Background and Problem: This study aims to explore if the big asset managers known as the Big Three can be explained using existing ownership theories. Though a single-case study the study highlights the fact that the Big Three are quite a new phenomenon and may not be completely understood as owners. 

Purpose: The purpose of this study is to shine light on the fact that the Big Three are quite unique in their position in the market. By identifying tensions where theory, research and empirical findings clash the thesis add to current literature by emphasizing that the Big Three need to be researched more extensively to be understood as owners.  

Methodology: The thesis is conducted using a qualitative single-case study, using an exploratory and abductive research approach. The study is done using archived data, newspaper articles and reports. 

Findings: The findings show that the previous research and the current ownership theories create tensions or spaces in which the Big Three does not fit. Furthermore, the thesis opens the possibility and highlights that more research is needed to understand the Big Three better.