In reply to kennycan.

Cf I just looked up the top shareholders of Target. The Top 20 are ALL funds and control nearly 27% of the shares.

Vanguard is 5 of the Top 20.
American is 4 of the 20.
Capital Group is 3 of the 20.
MFS is 2 of the 20.
State Street, Blackrock, Fidelity, Franklin are each 1 of the 20.

That’s 17 of the 20 in 8 fund managers.

11 fund managers for the top 20 in all that own more than 1/4 of the company.

UPDATE: Another source says 81.7% of holders are Institutions. 81.86% of the Free Float is held by Institutions.
Vanguard, State Street and Blackrock in total are holders in their funds of 24.1% of the shares.

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