Tractor Supply Company (NASDAQ: TSCO), commonly known as Tractor Supply, is a leading rural lifestyle retailer serving recreational farmers, ranchers, and homeowners across the U.S. Shares recently traded around $52/share, giving the company a market value of roughly $27 billion.
After trading at higher levels earlier in the year, Tractor Supply shares have pulled back and now sit closer to the lower end of their recent range. Looking at who owns Tractor Supply and recent insider trades helps show how large institutions, hedge funds, and company leaders appear to be positioning around the stock today.
Who Are Tractor Supply’s Top Shareholders?
Tractor Supply’s shareholder base is led by major institutional investors. These firms tend to hold positions through market cycles, which can help support long-term ownership stability. Recent filings show a mix of modest trimming and selective additions among active managers.
- The Vanguard Group: 67.3M shares (12.74%), ~$3.48B value. Reduced by ~95k shares (0.14%).
- BlackRock Institutional Trust: 35.7M shares (6.75%), ~$1.84B value. Reduced by ~88k shares (0.25%).
- Wellington Management: 25.9M shares (4.91%), ~$1.34B value. Added ~421k shares (+1.65%).
- Capital International Investors: 23.4M shares (4.42%), ~$1.21B value. Reduced by ~456k shares (1.91%).
- State Street Investment Management: 22.9M shares (4.33%), ~$1.18B value. Reduced by ~113k shares (0.49%).
- Geode Capital Management: 15.7M shares (2.97%), ~$810M value. Added ~321k shares (+2.09%).
- Capital World Investors: 14.8M shares (2.80%), ~$766M value. Reduced by ~3.38M shares (18.57%).
- AllianceBernstein: 13.1M shares (2.48%), ~$678M value. Reduced by ~789k shares (5.67%).
- Select Equity Group: 12.1M shares (2.30%), ~$627M value. Reduced by ~579k shares (4.55%).
- Invesco Asset Management (Japan): 8.4M shares (1.58%), ~$432M value. Reduced by ~108k shares (1.27%).
For investors, this ownership mix suggests Tractor Supply remains anchored by long-term institutional holders, though several active managers appear to be trimming exposure after the stock’s earlier strength.
Hedge Fund Highlights
DE Shaw, founded by David Shaw, made one of the more notable moves last quarter, increasing its Tractor Supply position by 533%. The firm now holds roughly $165M value in the stock, which may point to growing confidence in earnings durability following the recent pullback.
Gotham Asset Management, led by value investor Joel Greenblatt, boosted its Tractor Supply stake by about 37%. While the position remains relatively small at just under $10M value, the increase suggests Gotham may be seeing improved value at current price levels.
Millennium Management, founded by Israel Englander, raised its holdings by roughly 26%, bringing its position to around $9M value. This appears incremental, but it may reflect a more constructive near-term view among multi-strategy funds.
O’Shaughnessy Asset Management, founded by James O’Shaughnessy, increased its Tractor Supply position by approximately 25% to nearly $6M value, suggesting a factor-driven allocation rather than a high-conviction bet.
For investors, hedge fund positioning appears mixed, with some firms adding meaningfully while others remain measured, reflecting differing views on near-term growth versus longer-term fundamentals.
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Tractor Supply’s Recent Insider Trades
Insider trades can offer useful context on how executives and directors may be managing personal exposure. Recent filings for Tractor Supply show mostly selling activity, with a few purchases mixed in.
- Kurt D. Barton (Officer): Sold ~90,000 shares in July near ~$64; also reported a share receipt at a much lower price that appears compensation related.
- Colin Yankee (Officer): Sold ~12,000 shares across multiple July transactions; also reported one small purchase.
- Mark J. Weikel (Director): Sold ~8,000 shares in August near ~$60.
- Melissa Kersey (Officer): Sold ~6,300 shares in August near ~$60.
- Harry A. Lawton III (Officer and Director): Reported an acquisition of ~160,000 shares in November at no disclosed price.
For investors, insider activity appears tilted toward selling, though transactions are generally small relative to overall ownership and some filings look administrative, suggesting a cautious rather than strongly directional signal.
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What the Ownership & Insider Trade Data Tell Us
Tractor Supply’s shareholder base remains dominated by large institutional owners, which helps support long-term stability. At the same time, trimming by some active managers and modest insider selling suggest expectations may be more balanced following the stock’s recent volatility.
For investors, the data indicates Tractor Supply continues to be viewed as a durable retail franchise with steady cash flow, but institutions and insiders alike appear to be approaching the stock carefully as growth moderates and margins normalize.
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