Will Windstream’s Whale-Sized Shareholders Wait for Proof in a Turnaround?

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So far in 2012, Windstream Corporation’s (NASDAQ:WIN) shares are down 22.49 percent. Last week, the company announced management changes from a restructuring. It is looking to increase its decision-making efficiency and place it in a position to continue succeeding. Approximately 375-400 management positions may be eliminated, representing approximately 3 percent of Windstream’s 14,500 employees.

The restructuring will likely to be completed in the third quarter.

A Closer Look: Windstream Earnings Cheat Sheet>>

With the management changes and eliminated positions, will Windstream’s largest shareholders decrease their positions? 522 institutional firms indicated owning shares of Windstream Corporation (NASDAQ:WIN) in Q1 2012. These firms reported owning a total of 294.854 million shares on 03/31/2012. The shares closed at $11.71 on 03/31/2012.

Here are the ten largest positions in Windstream Corporation at the end of March 31st, 2012.

Vanguard Group Inc held 33,038,945 shares on 03/31/2012 worth $386,886,047. This brought the portfolio total to 0.05%.

State Street Corp held 22,232,189 shares on 03/31/2012 worth $260,338,934. This brought the portfolio total to 0.04%.

Blackrock Institutional Trust Company N.A. held 15,182,110 shares on 03/31/2012 worth $177,782,509. This brought the portfolio total to 0.04%.

Barclays PLC held 12,615,980 shares on 03/31/2012 worth $147,733,126. This brought the portfolio total to 0.2%.

Bank of New York Mellon Corp held 10,957,406 shares on 03/31/2012 worth $128,311,225. This brought the portfolio total to 0.05%.

Federated Investors Inc /PA/ held 10,274,847 shares on 03/31/2012 worth $120,318,459. This brought the portfolio total to 0.55%.

Suntrust Banks Inc held 8,339,504 shares on 03/31/2012 worth $97,655,592. This brought the portfolio total to 0.37%.

Blackrock Fund Advisors held 8,012,168 shares on 03/31/2012 worth $93,822,488. This brought the portfolio total to 0.04%.

Morgan Stanley held 7,823,907 shares on 03/31/2012 worth $91,617,951. This brought the portfolio total to 0.05%.

Ameriprise Financial Inc held 6,781,295 shares on 03/31/2012 worth $79,408,965. This brought the portfolio total to 0.06%.

About the company: Windstream Corporation offers telecommunications services to residential and business customers in rural communities in the United States. The Company provides local telephone, high-speed Internet, long distance, network access, and video services in multiple states.

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