Vanguard Trims Fastenal Stake to 8.8% as of Dec 29, 2023

TL;DR

**Vanguard slightly cut its Fastenal stake to 8.8%, watch for market reaction.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Fastenal Co. As of December 29, 2023, Vanguard beneficially owned 50,750,450 shares of Fastenal's Common Stock, representing 8.8% of the company. This filing indicates a slight decrease in Vanguard's overall beneficial ownership from its previous filing, which could signal a minor shift in institutional confidence or portfolio rebalancing, potentially impacting investor sentiment for Fastenal stock.

Why It Matters

This filing shows a significant institutional investor's updated position, which can influence market perception and potentially impact Fastenal's stock price due to changes in demand from large funds.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like Vanguard typically poses a low risk to the company's fundamentals.

Analyst Insight

Investors should monitor Fastenal's upcoming earnings reports and other institutional filings to see if this minor reduction by Vanguard is part of a broader trend among large investors or an isolated portfolio adjustment.

Key Numbers

• 50,750,450 — Total shares beneficially owned (The total number of Fastenal Common Stock shares Vanguard owns.)
• 8.8% — Percentage of class (The percentage of Fastenal's Common Stock owned by Vanguard.)
• 750,450 — Shared Voting Power (The number of shares over which Vanguard has shared voting power.)
• 50,000,000 — Shared Dispositive Power (The number of shares over which Vanguard has shared dispositive power.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and a major institutional investor
• Fastenal Co (company) — the subject company whose securities are being reported
• Pennsylvania (company) — place of organization for The Vanguard Group
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Fastenal's stock price may experience minor volatility due to institutional rebalancing. (Fastenal Co) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tv0910-fastenalco.htm (SC 13G/A) — 11KB
• 0001104659-24-020910.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Fastenal Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 2001 Theurer Boulevard Winona, MN 55987-1500

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 311900104

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration