Last week’s drastic drop in the stock price of Bed Bath & Beyond wiped close to $100 million in value off Malvern-based Vanguard’s funds, writes Jeff Blumenthal for the Philadelphia Business Journal. 

The investment management giant is the retailer’s third largest stakeholder, only behind Blackrock and Fidelity Institutional Asset Management, with 7.92 shares as of June 29. Last week, Vanguard saw the value of its Bed Bath & Beyond holdings drop from $183 million to $147 million and finally to $88 million on Friday. 

The retailer’s stock started plummeting after activist investor Ryan Cohen’s RC Ventures said it was selling its stock in the company. 

However, even with the latest price drop, Vanguard’s investment is still in better standing than it was on June 29, the end of the second quarter. At that time, Bed Bath & Beyond’s stock was just $4.99 a share, putting Vanguard’s stake at $39.5 million. 

It is currently unknown whether Vanguard has decided to sell a part of its interest in the retail company since its last quarterly filing. 

Read more about Vanguard in the Philadelphia Business Journal.