A person or company that owns shares in a publicly-traded company on behalf of another person or company. That is, while the shares are in the dummy shareholder's name, another party makes all decisions related to their use. See also: Beneficial ownership.
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An individual or firm holding stock in its own name when the stock is really owned by another party.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.