JOHNSON & JOHNSON

The passive core dominates dollar terms. BlackRock ($52.2B), Vanguard Capital Management ($38.3B), State Street ($32.6B), and FMR/Fidelity ($15.5B) anchor the top tier as benchmark-mandated positions. Their presence signals that JNJ remains a required large-cap healthcare anchor in every broad healthcare or diversified healthcare mandate.

The active healthcare tier is the more informative layer. Capital Research Global Investors and Wellington Management both carry meaningful stakes, confirming that bottom-up healthcare allocators continue to treat JNJ diversified model--pharmaceuticals, medtech, and consumer health--as a defensive-duration instrument within healthcare portfolios. Capital Research approach to JNJ typically emphasizes pipeline diversity, patent-cliff management, and regulatory-risk spreading across three business segments.