(As of December 12, 2025 | Post Q3 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $356 billion (based on ~$357.46/share and 995 million shares outstanding)
Introduction
The Home Depot, Inc. (NYSE: HD), founded in 1978 by Bernie Marcus and Arthur Blank in Atlanta, Georgia, is the world's largest home improvement retailer, operating ~2,350 stores across the U.S., Canada, and Mexico, offering tools, building materials, appliances, and services for DIY, professional contractors, and home maintenance. Public since 1981, it employs a single-class share structure (one vote per share), ensuring voting power aligns with economic ownership. Institutions dominate (~70%), insiders ~4% (including co-founder Kenneth Langone), and retail ~26%. The table below details the top 10 economic shareholders from Q3 2025 13F filings (Sep 30, 2025) and SEC data, with values at current market cap. Recent activity includes minor insider sales (~$766K on Sep 22, 2025, for tax payments) and $5B quarterly buybacks reducing shares by ~0.5% YoQ.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($356B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 9.88% | $35.2 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~98.31M shares. Passive with ~$9.3T AUM; added ~1.48M shares (+1.5%) in Q3 2025, core S&P 500 weighting (~6%). No direct control; focuses on retail stability. |
| 2 | BlackRock Inc. | 7.57% | $26.9 billion | Holds ~75.35M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~0.83M shares (+1.1%) in Q3 2025; board observer on governance/ESG. Key in consumer staples funds; HD ~0.5% of portfolio. |
| 3 | State Street Corporation | 4.63% | $16.5 billion | Owns ~46.1M shares via SPDRs (e.g., SPY); fully passive. Added ~0.3M shares (+0.7%) in Q3; votes proxies on exec comp and supply chain ethics. ~4% of retail holdings; supports $20B annual buybacks. |
| 4 | Geode Capital Management, LLC | 2.35% | $8.4 billion | Fidelity affiliate with ~23.41M shares in index trackers; passive. Grew ~0.33M shares (+1.4%) in Q3; tracks Nasdaq 100; minimal voting power. |
| 5 | Morgan Stanley | 2.26% | $8.0 billion | ~22.49M shares via wealth/ETFs; index/active blend. Up ~0.37M shares (+1.7%) in Q3; provides advisory for HD's M&A and expansions. |
| 6 | JPMorgan Chase & Co. | 1.93% | $6.9 billion | ~19.19M shares in asset management; index/active blend. Stable QoQ; banking partner for HD's $3B+ cash reserves and capex. |
| 7 | Bank of America Corporation | 1.51% | $5.4 billion | ~15.01M shares; strategic peer holding. Increased ~0.5% QoQ; synergies in consumer finance and payments. |
| 8 | Kenneth G. Langone (Co-Founder & Director) | 1.66% | $5.9 billion | ~16.5M shares; largest individual insider. Stable stake; board influence since 1978; net worth ~$6B tied to HD performance. |
| 9 | Charles Schwab Investment Management, Inc. | 1.50% | $5.3 billion | ~14.6M shares; passive via ETFs. Added ~0.15M shares (+1.1%) in Q3; focuses on dividend yield (2.62%). |
| 10 | Capital World Investors | 1.20% | $4.3 billion | ~12M shares in growth strategies; active manager. Stable QoQ; holds for Pro segment growth (~$15B annual run rate). |
Total Top 10 = ~34.49% | Remaining: Other Institutions (~36%), Other Insiders (~2.34%, e.g., Ted Decker CEO at ~0.01%), Retail (~26%) | Grand Total = 100%
Conclusion
As of December 2025, The Home Depot's ownership is institutionally led (~70% total) by passive titans like Vanguard and BlackRock, providing stability for its $41.4B Q3 2025 revenue (up 2.8% YoY, ~90% from U.S. stores) and $3.74 adjusted EPS (down from $3.78 YoY), with FY2025 guidance at ~3% sales growth amid housing softness. Insiders (~4% combined) like Langone ensure continuity amid expansions (e.g., SRS/GMS integrations), while retail's ~26% stake reflects consumer loyalty. With $356B market cap (down ~9% YoY) and $20B buybacks authorized, expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and FY2026 comp sales flat to +1%. This structure balances scale with returns via $9.20 annual dividends (2.62% yield). For filings, visit SEC EDGAR or Home Depot's investor relations.