Dimensional Fund Advisors Reports 6.1% Passive Stake In Kohl's, 6,929,849 Shares
The adviser's Schedule 13G says the shares sit in funds it advises and were not bought to influence control of Kohl's.
Dimensional Fund Advisors LP holds 6,929,849 Kohl's shares, or 6.1% of the common stock, according to a Schedule 13G filed with the SEC on Thursday. The 13G is the passive ownership disclosure, and the filing says the position is not meant to change or influence control of the retailer.
What the filing says
The filing lists September 30 as the date of the event that triggered it. Dimensional reports sole voting power over 6,810,019 shares and shared voting power over 0.
The Austin, Texas-based firm describes itself as a registered investment adviser. It advises four registered investment companies and also manages or sub-advises other commingled funds, group trusts and separate accounts, which the filing calls the "Funds."
All the reported shares are owned by those Funds, the filing says. Dimensional disclaims beneficial ownership of them, and says filing the 13G is not an admission that it owns them for any purpose beyond the section of securities law that requires the report.
What it changes
For Kohl's holders, this is a passive filing, not an activist one. Dimensional certified that the shares were acquired and are held in the ordinary course of business, and not to change or influence control of the company.
The filing also says that, to Dimensional's knowledge, no single Fund's interest exceeds 5% of the class. The 6.1% therefore reflects many funds' holdings, which Dimensional advises, rather than one concentrated holder.
Kohl's shares traded at $20.21, up about 0.45%, in Thursday trading as of 2:38 p.m. ET, for a market value of about $2.3 billion (market data).
The filing states no intent to seek control, and it lists 0 shares of shared voting power.
