Nordstrom Gets New Largest Shareholder (JWN)

By Douglas A. McIntyre Updated Apr 28, 2:50AM EDT · Published Jan 9, 10:59AM EST

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Money_stack_pic_2 It looks like Nordstrom Inc. (NYSE: JWN) has a new largest shareholder. An existing holder called Capital World Investors has increased its ownership in the upscale retailer and now owns a 10.1% stake in the company with 21,813,100 shares of common stock.

What is interesting is that the stake is still passive,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 its stake may even dwarf the common holdings of the Nordstrom family.

Now registrations for sales and purchases may become more complicatedfor this holder. There is a reason that you see Fidelity andother firms stop acquiring shares of common stock in publiccompanies when they reach the 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

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.