24/7 Wall St.
01-09-2009, 10:10 AM
24/7 Wall St. Daily News
http://www.247wallst.com/images/2009/01/09/money_stack_pic_2.jpg (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2009/01/09/money_stack_pic_2.jpg)It looks like Nordstrom Inc. (NYSE: JWN) has a new largest shareholder. An existing holder and investment advisor called Capital World Investors has increased its ownership in Nordstrom and now owns a 10.1% stake in the company with some 21,813,100 shares of common stock.
What is interesting here is that the stake is still a passive stake,yet it has crossed the 10.1% threshold with the SEC. Capital WorldInvestors is part of Capital Research & Management and is one ofthe companies which went all in on Yahoo! as well. It looks like the stake here may even dwarf the common holdings of the Nordstrom family members.
Now registrations for sales and purchases may become more complicatedfor this holder according to the historic rules and regulations fromthe SEC over percentages of stock which can be owned or controlled andthe reporting thereafter. There is a reason that you see Fidelity andother firms actually stop acquiring shares of common stock at publiccompanies when they reach that 4.9% and 9.9% beneficial ownership stakethresholds.
Sometimes this works, and sometimes it doesn't. So far it seems no onecares or that no one has noticed. Shares are down 3% at $14.09 on thinvolume trading.
Jon C. Ogg
January 9, 2009
http://feeds.feedburner.com/~f/typepad/RyNm?i=dWEKj3.P (http://feeds.feedburner.com/~f/typepad/RyNm?a=dWEKj3.P) http://feeds.feedburner.com/~f/typepad/RyNm?i=aXcwZD.P (http://feeds.feedburner.com/~f/typepad/RyNm?a=aXcwZD.P) http://feeds.feedburner.com/~f/typepad/RyNm?i=Jyv8VU.p (http://feeds.feedburner.com/~f/typepad/RyNm?a=Jyv8VU.p)
complete story here... (http://www.247wallst.com/2009/01/nordstrom-gets.html)
http://www.247wallst.com/images/2009/01/09/money_stack_pic_2.jpg (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2009/01/09/money_stack_pic_2.jpg)It looks like Nordstrom Inc. (NYSE: JWN) has a new largest shareholder. An existing holder and investment advisor called Capital World Investors has increased its ownership in Nordstrom and now owns a 10.1% stake in the company with some 21,813,100 shares of common stock.
What is interesting here is that the stake is still a passive stake,yet it has crossed the 10.1% threshold with the SEC. Capital WorldInvestors is part of Capital Research & Management and is one ofthe companies which went all in on Yahoo! as well. It looks like the stake here may even dwarf the common holdings of the Nordstrom family members.
Now registrations for sales and purchases may become more complicatedfor this holder according to the historic rules and regulations fromthe SEC over percentages of stock which can be owned or controlled andthe reporting thereafter. There is a reason that you see Fidelity andother firms actually stop acquiring shares of common stock at publiccompanies when they reach that 4.9% and 9.9% beneficial ownership stakethresholds.
Sometimes this works, and sometimes it doesn't. So far it seems no onecares or that no one has noticed. Shares are down 3% at $14.09 on thinvolume trading.
Jon C. Ogg
January 9, 2009
http://feeds.feedburner.com/~f/typepad/RyNm?i=dWEKj3.P (http://feeds.feedburner.com/~f/typepad/RyNm?a=dWEKj3.P) http://feeds.feedburner.com/~f/typepad/RyNm?i=aXcwZD.P (http://feeds.feedburner.com/~f/typepad/RyNm?a=aXcwZD.P) http://feeds.feedburner.com/~f/typepad/RyNm?i=Jyv8VU.p (http://feeds.feedburner.com/~f/typepad/RyNm?a=Jyv8VU.p)
complete story here... (http://www.247wallst.com/2009/01/nordstrom-gets.html)