In 1999 the foundation held 704,943,077 of 4,954,465,306 total ordinary shares (14.228%) of UniCredit (called UniCredito Italiano at that time),[1] which was diluted to 14.092% in 2000,[2] 14.029% in 2001, 11.235% in 2002 due to issue of new shares of UniCredit.
Despite number of shares held decreased in the financial year 2003, the foundation became the largest shareholder of 8.741%, which the total issued ordinary shares of UniCredit had increased to 6,294,629,600.
[4] In 2005 once again the number of total shares were changed (to 10,368,848,154), which the foundation was the second largest shareholder of 4.743%, behind Munich Re Group.
[6] On 31 December 2006 the foundation had 491,744,753 number of shares UniCredit[7] and 5,145,125 number of shares in Société Générale respectively,[7] representing 4.721% (out of total 10,416,544,981) as the second largest shareholder of UniCredit.
[8] On 30 June 2006 Société Générale had 434,700,901 shares, a treasury stock of 20,535,404, as well as an equity of €29 billion, thus the foundation held about 1% of Société Générale's shares in open market,[9] which the foundation claimed to worth €315 million in the audited accounts of the foundation, a P/B ratio of about 1.1.