Vanguard Group swooped in and knocked Elon Musk off his top shareholder perch at Twitter

On April 4th, Elon Musk reported a 9.2% stake in Twitter, making him the company's largest shareholder. But his top-o'-the-leaderboard glory was short-lived. Four days later he was knocked down a peg when Vanguard Group announced they owned 10.3% of Twitter.

From The Wall Street Journal:

Funds held by Vanguard Group recently upped their stake in the social-media platform, making the asset manager Twitter's largest shareholder and bumping Mr. Musk out of the top spot.

Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.

The asset-manager increased its stake in the company at some point during the first quarter, according to the filings. Vanguard's holdings are now worth $3.78 billion, based on Twitter stock's closing price on Wednesday.

That's enough to knock Mr. Must off the perch as Twitter's largest shareholder, according to FactSet.

However, Musk is the top shareholder of Twitter as an individual — as opposed to a financial institution — with Jack Dorsey ranked as the 2nd individual (but 7th spot when you include institutions). So that must be of some comfort to the toppled billionaire.