(As of December 12, 2025 | Post Q3 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $222 billion (based on ~$310.50/share and 712 million shares outstanding)
Introduction
McDonald's Corporation (NYSE: MCD), founded in 1940 by Richard and Maurice McDonald (with Ray Kroc acquiring rights in 1961), is the world's largest quick-service restaurant chain, operating ~41,800 locations in 120+ countries, with ~95% franchised. Its menu features Big Mac, McNuggets, fries, and beverages, generating revenue from company-operated sales (~15%), franchised royalties (~35%), and rents (~50%). Public since 1965, it uses a single-class share structure (one vote per share) for broad governance. Ownership is institutionally dominant (~72%), insiders ~0.25%, and retail ~28%. The table below details the top 10 shareholders from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity includes $11.6M in insider sales (e.g., EVP Manuel Steijaert sold 6,567 shares for $2M on Dec 1) and $2.8B in 2025 buybacks (part of $20B program).
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($222B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 10.06% | $22.3 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~71.65M shares as of Sep 30, 2025. Passive with ~$9.3T AUM; added ~1.5% in Q3 2025; core S&P 500 weighting (~6%). No direct control; focuses on global franchising. |
| 2 | JPMorgan Chase & Co. | 9.61% | $21.3 billion | ~68.43M shares across asset management; index/active blend. Up ~15% in Q3 2025; provides banking/debt for MCD's $5B+ cash reserves and capex. |
| 3 | BlackRock Inc. | 7.31% | $16.2 billion | Holds ~52.06M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~0.5% in Q3 2025; board observer on governance/ESG. Key in consumer funds; MCD ~0.3% of portfolio. |
| 4 | State Street Corporation | 4.92% | $10.9 billion | Owns ~35.02M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp and sustainability. ~4% of staples holdings; supports $20B buyback program. |
| 5 | Geode Capital Management, LLC | 2.38% | $5.3 billion | Fidelity affiliate with ~16.96M shares in index trackers; passive. Grew ~0.3% in Q3; tracks Nasdaq 100; minimal voting power. |
| 6 | Morgan Stanley | 1.50% | $3.3 billion | ~10.7M shares via wealth/ETFs; active in advisory. Increased ~0.5% QoQ; engages on shareholder proposals re: menu health trends. |
| 7 | FMR LLC (Fidelity) | 1.69% | $3.8 billion | ~12.02M shares across funds (e.g., Contrafund); active with minor Q3 trim. Bullish on digital sales (up 20% YoY); advisory on innovation. |
| 8 | Bank of America Corp /DE/ | 1.40% | $3.1 billion | ~10.0M shares; strategic peer holding. Stable QoQ; synergies in payments/consumer finance. |
| 9 | T. Rowe Price Associates Inc. | 1.20% | $2.7 billion | ~8.5M shares in growth funds (e.g., Blue Chip); trimmed ~1% on valuation but holds for value menu gains. Board input on R&D. |
| 10 | Manuel J.M. Steijaert (EVP, Corp. Strategy & Business Dev.) | 0.02% | $44 million | ~140K shares; recent sales: 6,567 shares (~$2M on Dec 1, 2025) under 10b5-1 plan. Oversees strategy; aligns with $11.71 FY2025 EPS. |
Total Top 10 = ~47.69% | Remaining: Other Institutions (~24%), Other Insiders (~0.23%, e.g., Ian Borden CFO at ~0.01%), Retail (~28%) | Grand Total = 100%
Conclusion
As of December 2025, McDonald's ownership is institutionally led (~72% total) by passive titans like Vanguard and JPMorgan, ensuring stability for its $7.08B Q3 2025 revenue (up 3% YoY) and $2.28B net income (up 1% YoY, adj. EPS $3.22), with global comparable sales up 3.6% amid value initiatives like McValue Meals. Insiders (~0.25% combined) reflect routine 10b5-1 sales (~$11.6M in late 2025) amid expansions (e.g., 2,000+ new stores planned), while retail's ~28% stake fosters loyalty. With $222B market cap (up 6% YoY) and $20B buybacks authorized ($2.8B in 2025), expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and FY2025 revenue ~$27B (up 3%). This structure supports franchising dominance via $7.44 annual dividends (2.4% yield, 49th consecutive increase). For filings, visit SEC EDGAR or McDonald's investor relations.