Planning to buy some Facebook stock when the company goes public?
Well, you may already own some shares and not even know it. Especially if you have a mutual fund with T. Rowe Price Associates.
Investment research firm Morningstar reported Thursday that 50 mutual funds have Facebook ownership stakes. Their holdings are relatively small, the firm noted.
One mutual fund with a stake in the Menlo Park-based Internet giant is Morgan Stanley Focus Growth Fund. According to Morningstar, the $1.5 billion fund has 3.31 percent of its assets in Facebook shares.
Another is the $73.8 billion Fidelity Contrafund, which has 0.12 percent of its assets in the social networking firm.
T. Rowe Price was actually named in Facebook’s IPO filing on Wednesday as having more than 5 percent of the company’s privately held shares.
The filing said that T. Rowe Price had 81 funds and accounts that it manages or subadvises that owned Class A shares and another 77 funds or accounts that owned Class B shares.
But T. Rowe Price officials say only 19 of its mutual funds now hold Facebook.
The $1.8 billion T. Rowe Price Media & Telecommunications Fund has 1.2 percent of its assets invested in Facebook.
Facebook’s largest individual shareholder is 27-year-old CEO Mark Zuckerberg, who has a 28.4 percent ownership stake. The company is projected to have a stock market value of up to $100 billion, making Zuckerberg’s ownership stake worth nearly $30 billion.
Facebook said in its filing Wednesday with the Securities and Exchange Commission that it wanted to raise up to $5 billion in its IPO. A date for the stock offering has not been announced.
Click here to read Morningstar’s report, and to see the 50 funds with Facebook shares.
Incoming search terms:
- how to invest in facebook before it goes public
- fidelity facebook ipo