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Who are the largest shareholders of Nexstar Media Group and what stakes do they hold?
Executive summary
Major institutional holders of Nexstar Media Group commonly listed across data aggregators include BlackRock and Vanguard, each shown holding roughly 3 million shares (around ~8–10% stakes in some snapshots) along with other large asset managers such as Dimensional Fund Advisors and State Street [1] [2]. Insider ownership figures are reported inconsistently across services: WallStreetZen flags Perry A. Sook as a major individual shareholder holding about 7.94 million shares (≈26.2%) while other datasets emphasize near‑total institutional ownership (percentages vary by provider) [3] [1].
1. Who the big holders are — the institutional consensus
Data aggregators and institutional‑ownership trackers repeatedly name the same large asset managers as Nexstar’s top institutional holders: BlackRock (appearing both as “BlackRock funding, inc.” and plain BlackRock), Vanguard Group, Dimensional Fund Advisors, Charles Schwab Investment Management, State Street, and others such as Neuberger Berman and LSV Asset Management [1] [2]. Those services typically report several million shares for BlackRock and Vanguard in their top‑holder positions, for example listing BlackRock funding, inc. at ~3.11M shares (10.23%) and Vanguard at ~3.07M shares (10.09%) in one snapshot [2].
2. Conflicting snapshots — why percentages differ
Different services show materially different ownership percentages and classifications. Fintel and related aggregators report roughly 39.8 million institutional‑held shares across hundreds of institutional owners (and list BlackRock and Vanguard among the largest) [1]. Tickergate’s snapshot expresses the largest institutional stakes as roughly 10.23% (BlackRock funding, inc.), 10.09% (Vanguard), and 8.66% (BlackRock) — implying overlapping legal entities or multiple BlackRock vehicles holding positions [2]. These differences reflect variations in reporting dates, which legal entity of an asset manager is listed, and whether a provider expresses holdings as percent of float, percent of shares outstanding, or counts related fund vehicles separately [1] [2].
3. The insider story — Perry Sook and company statements
WallStreetZen identifies founder and CEO Perry A. Sook as the largest individual shareholder with about 7.94 million shares (≈26.18%) [3]. Nexstar’s own press material notes Perry Sook is “the Company’s third largest shareholder,” a statement appearing in company press releases and investor materials — which suggests the company’s own ranking and the data‑aggregator snapshots may not align exactly in timing or in how they group insider holdings [4] [3]. Available sources do not mention a definitive, company‑published current exact percentage for Sook in the provided documents beyond those summaries [4] [3].
4. Why institutional ownership can exceed 100% in some reports
Several aggregators display institutional ownership totals above 100% (e.g., 100.23% or 100.49%) — an obvious inconsistency that stems from how different reporting sources aggregate holdings, duplicate counts across multiple fund vehicles, or use different denominators (shares outstanding vs. float) [1] [5]. MatrixBCG and Fintel note institutional ownership in the ~38–39 million shares range but also show rounding/aggregation artifacts that push percentages past 100% in their summaries [1] [5]. These are methodological artifacts rather than literal claims that more than all shares are institutionally held [1] [5].
5. Practical implications — control, voting and influence
Large passive index and asset managers (BlackRock, Vanguard, State Street) appear among the top holders; such firms typically vote proxies across many companies and exert governance influence through engagement or voting platforms, but the sources provided do not analyze how these specific holders have voted at Nexstar or whether they coordinate [1] [2]. The presence of a founder with a substantial individual stake (per one provider) could mean concentrated insider influence if that stake and voting power are current and accurate; however, sources disagree on his exact rank and percentage, and Nexstar’s own materials describe Sook as a top insider but do not reproduce a full, current ownership table in the excerpts provided [4] [3].
6. How to get a definitive, up‑to‑date list
For the most authoritative and timely picture, check the company’s SEC filings (e.g., most recent Form 10‑Q/10‑K for aggregate insider and institutional tables, and 13‑F/13D/G filings for individual institutional schedules). The provided set includes investor pages and press releases but not a single, definitive SEC table in these excerpts [6] [7]. MarketBeat, Nasdaq institutional‑holdings pages, and direct SEC filings will show the exact filing dates and legal entities behind each holding so you can reconcile differing aggregator snapshots [8] [6].
7. Bottom line and reporting caveats
Multiple reputable aggregators consistently list BlackRock and Vanguard among Nexstar’s largest institutional holders and name several other big asset managers as top owners; specific share counts and percentage stakes vary across providers [1] [2]. At least one data source identifies Perry A. Sook as a major individual shareholder with about 7.94M shares (~26.2%), but Nexstar’s own materials phrase his position more conservatively [3] [4]. Given the inconsistencies in provider methodology and timing, rely on the company’s SEC filings and timestamped 13F/13D/G filings to resolve exact current stakes [6] [1].