Major US investment manager AllianceBernstein has acquired a 6.72% ownership stake in Mazda Motor for investment purposes, the US firm said in a recent report to the Japanese Financial Services Agency.

AllianceBerstein is likely to have become the largest shareholder in the automaker, Kyodo News said.

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In the report submitted on 19 August, the investment fund said it bought a 6.72% stake in Mazda. That exceeds the 6.61% shareholding of a different USinvestment company, Franklin Templeton Investments, which reported its share purchase to the agency in July.

Ford, once the largest shareholder in Mazda, lowered its equity stake to about 3.5% by November last year.

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