Home Depot (NYSE: HD) is the world’s largest home improvement retailer, selling everything from building materials and tools to appliances and garden supplies.
The company’s scale and reach have made it the go-to destination for both professional contractors and everyday homeowners. Shares recently traded near $407 with a market value of about $405 billion.
Once tied closely to U.S. housing and DIY spending, Home Depot has grown into a global retail powerhouse and one of the most widely owned consumer stocks. Its strong brand, supply chain efficiency, and ability to generate cash give it a competitive edge that rivals struggle to match. With consistent buybacks, a 2.4% dividend yield, and high returns on capital, it has become a staple for long-term institutional investors.
While growth has cooled as housing activity softened, Home Depot’s steady cash flow and profitability continue to anchor it as a core holding for many funds.
Who Are Home Depot’s Top Shareholders?
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Home Depot is the leading retailer for home improvement products, serving both professional builders and everyday homeowners with tools, appliances, and materials for projects big and small. Its shareholder base is dominated by large asset managers, while some active funds have been adjusting their exposure.
- Vanguard Group: 97.5M shares (9.8%), ~$39.7B. Added 1.48M (+1.5%).
- BlackRock: 49.6M shares (5.0%), ~$20.2B. Added 829K (+1.7%).
- State Street: 46.0M shares (4.6%), ~$18.7B. Added 300K (+0.7%).
- Geode Capital: 23.0M shares (2.3%), ~$9.3B. Added 328K (+1.5%).
- Charles Schwab IM: 14.6M shares (1.5%), ~$5.9B. Added 154K (+1.1%).
- Morgan Stanley: 13.5M shares (1.4%), ~$5.5B. Added 369K (+2.8%).
- Norges Bank: 13.3M shares (1.3%), ~$5.4B. Added 387K (+3.0%).
- Capital World Investors: 12.9M shares (1.3%), ~$5.3B. Cut 1.06M (-7.6%).
- Capital Research Global Investors: 11.4M shares (1.1%), ~$4.6B. Cut 603K (-5.0%).
- Fisher Investments: 9.9M shares (1.0%), ~$4.0B. Added 256K (+2.6%).
One highlight from last quarter is Hudson Bay Capital Management, led by Sander Gerber, which lifted its Home Depot stake by 733% to about 81K shares worth $30 million. That kind of sharp increase looks like a big swing in confidence toward the stock.
Another notable move came from Balyasny Asset Management, run by Dmitry Balyasny, which boosted its position by nearly 200% to around 669K shares valued at $245 million. For a multi-strategy hedge fund, that kind of jump may point to growing conviction in Home Depot’s steady cash flows.
Meanwhile, DE Shaw, led by David Shaw, expanded its stake by more than 100% to roughly 502K shares worth $184 million. That increase suggests the firm is leaning more positively on Home Depot’s ability to perform even in a slower housing market.
Index funds provide stable ownership at the core, hedge funds are showing renewed interest, and some active managers have trimmed back. This mix points to long-term stability with selective bets on Home Depot’s ability to keep compounding.
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Home Depot’s Recent Insider Trades
Insider trades give some insight into how executives manage their personal stakes. At Home Depot, recent filings show more activity on the selling side, with purchases mostly happening at much lower prices in the past.
- Teresa Wynn Roseborough (Officer): Sold 1,380 and 4,103 shares near ~$413. Earlier purchases at $293 and $182.
- William D. Bastek (Officer): Sold 3,783 shares at ~$410. Earlier purchase at $130.
- Edward P. Decker (CEO): Received 32,897 shares as part of compensation at $130 in August
- Other officers (Angie Brown, Stephanie Smith): Small filings of ~628 shares.
Most trades appear tilted toward selling at $397–$413, while earlier buys came at much cheaper levels. This may suggest executives are comfortable taking some profits at current prices.
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What the Ownership & Insider Trade Data Tell Us
Home Depot’s ownership is anchored by passive giants like Vanguard and BlackRock, which keep the stock widely held in global portfolios. Hedge funds like T. Rowe Price, Balyasny, and DE Shaw have added, showing selective conviction, while active managers such as Capital World and Capital Research have trimmed exposure.
Insider activity looks more cautious, with leadership selling shares around $400 and little evidence of new buying at these levels.
The signals are mixed. Institutions remain steady holders, hedge funds are leaning in, and insiders are mostly selling into strength. Home Depot continues to be a high-quality business, but enthusiasm to add at today’s valuation appears restrained.
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