Tapestry, Inc. (NYSE: TPR) is a global luxury accessories company best known for brands like Coach, Kate Spade, and Stuart Weitzman. Shares recently traded around $130 per share, giving the company a market value of roughly $26.6 billion.
After a strong multi year run, Tapestry has attracted significant institutional ownership while recent insider filings show a series of relatively small transactions.
Looking at who owns Tapestry today helps provide insight into how large investors and company insiders may be viewing the stock at current valuation levels.
Who Are Tapestry’s Top Shareholders?
Tapestry’s shareholder base is led by large passive institutions that tend to hold through market cycles, which can help support long term ownership stability. Active managers show a more mixed pattern, with some increasing exposure while others trim positions.
- The Vanguard Group: 25,347,796 shares (12.39%), ~$3.30B value. Cut 507,018 shares (1.96%).
- BlackRock Institutional Trust Company: 12,928,027 shares (6.32%), ~$1.68B value. Added 1,001,474 shares (+8.40%).
- State Street Investment Management: 9,229,777 shares (4.51%), ~$1.20B value. Added 1,494,193 shares (+19.32%).
- Fidelity Management & Research Company: 6,795,749 shares (3.32%), ~$884.8M value. Cut 2,465,269 shares (26.62%).
- Geode Capital Management: 5,709,153 shares (2.79%), ~$743.3M value. Added 208,295 shares (+3.79%).
- SRS Investment Management: 5,045,999 shares (2.47%), ~$657.0M value. Cut 286,825 shares (5.38%).
- AQR Capital Management: 4,307,615 shares (2.10%), ~$560.9M value. Added 760,646 shares (+21.44%).
- BofA Global Research: 4,275,671 shares (2.09%), ~$556.7M value. Cut 1,672,402 shares (28.12%).
- Union Investment Privatfonds GmbH: 3,466,002 shares (1.69%), ~$451.3M value. Cut 1,308,824 shares (27.41%).
- Qube Research & Technologies: 2,962,713 shares (1.45%), ~$385.7M value. Cut 750,138 shares (20.20%).
The continued presence of Vanguard, BlackRock, and State Street provides a stable ownership core, while the mixed activity among active managers suggests differing views on valuation following the stock’s strong performance, which may matter for investors tracking positioning trends.
Hedge Fund Highlights
One notable move came from Two Sigma Advisers, founded by John Overdeck and David Siegel, which boosted its Tapestry position by more than 1,500%. The firm now holds roughly $78M value, and it appears the increase may reflect growing confidence following sustained stock strength.
DE Shaw, led by founder David Shaw, also expanded its exposure meaningfully, lifting its position by about 139% to roughly $282M value. The increase suggests the firm may be leaning more favorably on Tapestry’s earnings trajectory at current levels.
Anson Funds Management, founded by Bruce Winson, raised its stake by approximately 350%, bringing its position to around $5M value. While smaller in size, the sharp percentage increase stands out and may point to opportunistic positioning.
Driehaus Capital Management, founded by Richard Driehaus, increased its holding by roughly 56% to about $29M value, a move that looks consistent with a momentum oriented approach following the stock’s recent performance.
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Tapestry’s Recent Insider Trades
Insider filings from late November through early December show several small transactions across executives and directors.
- Denise Kulikowsky (Officer): Sold shares across multiple transactions between ~$110 and ~$115 per share, totaling several thousand shares.
- Todd Leonard Kahn (Officer): Sold shares across multiple trades around ~$107 per share, including a reported reduction of 55,423 shares.
- Scott A. Roe (Officer): Reported a disposition of 9,525 shares at $0, which appears tied to compensation related reporting rather than open market activity.
- Other filings: Several Form 144 entries showing no net change in ownership that appear administrative in nature.
It appears insider activity leans modestly toward selling, though transaction sizes remain small relative to total shares outstanding and do not materially change insider ownership.
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What the Ownership & Insider Trade Data Tell Us
Tapestry’s ownership profile remains anchored by large passive institutions, providing stability, while hedge funds and active managers show selective positioning rather than a unified directional view. Insider activity appears measured, with no large transactions that materially alter internal ownership.
For investors, the data suggests Tapestry continues to be treated as a high quality consumer brand with durable cash flow, though positioning across institutions and insiders looks careful rather than aggressive at current price levels.
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