Will Best Buy’s Severed Relationship with Capital One Irk These Top Institutional Shareholders?

Best Buy Co. Inc. (NYSE:BBY) sees Capital One (NYSE:COF) strike an agreement to sell their portfolio of private label and co-branded credit card accounts, with current loan balances of approximately $7 billion, to Citi (NYSE:C). Furthermore, Capital One and Best Buy agreed to end their contractual credit card relationship early. The sale of the loans to Citi, subject to customary closing conditions, and early termination of the Best Buy partnership will likely be finalized during Q3 of 2013. Capital One believes that the proceeds from the sale will approximate the book value of the accounts, causing no significant gain or loss on the transaction.

Will Best Buy Co. Inc.’s shareholder’s increase their holdings? They reported owning a total of 252.351 million shares on 12/31/2012. The shares closed at $11.85 on 12/31/2012.

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Here are the ten largest positions in Best Buy Co. Inc. at the end of December 31st, 2012.

FMR LLC. held 29,516,766 shares on 12/31/2012 worth $349,773,688. This brought the portfolio total to 0.06%.

Vanguard Group Inc. held 16,139,639 shares on 12/31/2012 worth $191,254,728. This brought the portfolio total to 0.02%.

State Street Corp. held 11,903,501 shares on 12/31/2012 worth $141,056,491. This brought the portfolio total to 0.02%.

Manufacturers Life Insurance Co. held 10,633,614 shares on 12/31/2012 worth $126,008,330. This brought the portfolio total to 1.03%.

Vinik Asset Management L. P. held 7,759,000 shares on 12/31/2012 worth $91,944,153. This brought the portfolio total to 2.7%.

Tiaa Cref Investment Management LLC. held 7,704,370 shares on 12/31/2012 worth $91,296,787. This brought the portfolio total to 0.08%.

Blackrock Institutional Trust Company N.A. held 7,430,598 shares on 12/31/2012 worth $88,052,589. This brought the portfolio total to 0.02%.

Evercore Trust Company N.A. held 5,674,630 shares on 12/31/2012 worth $67,244,368. This brought the portfolio total to 0.28%.

Tradewinds Global Investors LLC. held 5,296,683 shares on 12/31/2012 worth $62,765,696. This brought the portfolio total to 1.33%.

Prudential PLC. held 4,179,900 shares on 12/31/2012 worth $49,531,817. This brought the portfolio total to 0.31%.

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