BofA Reports 23.4M-Share Stake in SoundHound AI (SOUN)
Rhea-AI Filing Summary
Bank of America Corporation reports beneficial ownership of 23,413,582 shares of SoundHound AI Class A common stock, representing 6.3% of the class. The filing shows 0 sole voting power and sole dispositive power, with 23,387,061 shares of shared voting power and 23,413,582 shares of shared dispositive power, indicating the position is held across the reporting entity and its subsidiaries.
The Schedule 13G states these securities are held in the ordinary course of business and were not acquired to change or influence control. The filing names related subsidiaries including BofA Securities, Inc., Bank of America N.A., Merrill Lynch Pierce Fenner & Smith, Inc., and U.S. Trust Co. of Delaware.
Positive
- Material institutional stake: Bank of America beneficially owns 23,413,582 shares, representing 6.3% of SoundHound AI Class A stock.
- Passive filing: The Schedule 13G certification states the holdings are held in the ordinary course of business and not to influence control.
Negative
- No sole control: The reporting person reports 0 sole voting power and 0 sole dispositive power, indicating no unilateral control over the shares.
Insights
TL;DR Bank of America holds a material passive stake—6.3%—in SoundHound AI, reported under Schedule 13G as ordinary-course holdings.
The holding of 23,413,582 shares, representing 6.3% of the Class A stock, is material in size and reported with shared voting and dispositive power rather than sole control. The filer explicitly states the position is not held to influence control. For investors, this is a significant institutional ownership signal without an active control intent.
TL;DR This Schedule 13G indicates a passive, above-5% institutional stake held collectively by BofA and subsidiaries, not a control bid.
The report discloses 0 sole voting/dispositive power and substantial shared voting/dispositive power, and names the subsidiaries holding the position. The certification affirms ordinary-course holdings and no intent to change control, which aligns with a passive investor profile under Rule 13d-1.