Vanguard, BlackRock largest U.S. managers holding Banco Popular shares

Among U.S. investment managers, Vanguard Group held the most shares of now-defunct Spanish bank Banco Popular, taken over by Banco Santander on Tuesday. The investment behemoth held about 157 million shares of the bank, valued at about $50 million at the time of Santander’s takeover.

BlackRock portfolios held an estimated 41.4 million shares, while Dimensional Fund Advisors held 21.5 million across its strategies.

Since the end of 2015, the share price dropped 65.5%. The bank was eventually done in by its portfolio of bad real estate loans.

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