Activist investors are losing the Big Three

Activist investors are losing the Big Three

The NewsBlackRock, State Street, and Vanguard offered slim support to activist nominees at proxy fights this year.A new report from data provider Diligent shows that those three firms, whose roughly 20% ownership of the US stock market gives them huge power in corporate elections, overwhelmingly backed incumbent board members. Vanguard voted for just 8.6% of dissident nominees who sought board seats at Russell 3000 companies. State Street backed…