Selling Nintendo & LVMH


Nintendo stock certificate in black frame
LVMH stock certificate in black frame


Like all of the stocks on our website, you are buying true single share ownership of Nintendo (NTDOY) or LVMH (LVMUY) entitling the recipient to anything that any shareholder gets including declared dividends and annual reports. 

Unlike the other stocks on our list, the recipient/shareholder of Nintendo or LVMH may not be able to sell their ownership or have difficulty doing so.  We have researched this issue and have documented how one would go about selling below but note that we are not sure that this cumbersome process will work consistently.

*Good news:  On 4/11/23 we confirmed that this process works at Fidelity.


Why Nintendo & LVMH Are Hard To Sell

Normally one would sell their ownership position by either depositing the registered stock certificate or electronically transferring into a stock brokerage account and then selling through them.  Nintendo and LVMH are non-sponsored ADRs so the selling process gets complicated:

  • Most brokers will not accept deposit of Nintendo or LVMH paper stock certificate but will accept electronic deposit.
  • Both Nintendo and LVMH are not Direct Registration System (DRS) eligible so electronic transferring is more difficult.
  • An electronic transfer via DWAC is complicated by the fact that Nintendo and LVMH have multiple possible transfer agents that hampers broker back offices when setting up the transfer.


Steps To Sell

(last updated 4/11/2023)

**Good news:  On 4/11/23 we confirmed that this process works at Fidelity.

Based on our research, this is the process one would use to sell Nintendo and LVMH but as mentioned, it can be cumbersome and not guaranteed to work.  American Stock Transfer & Trust Company (AST) is the Transfer Agent (TA) for both companies :

  1. What Ownership Document Do You Have?
    1. If you have a registered stock certificate, go to Step 2.
    2. If your ownership is held electronically at AST, go to Step 3.
  2. Deposit Registered Certificate Into Your Account at AST 
    • Send letter instructing the transfer agent to deposit your shares into your book-entry account (see example)opens image that shows sample letter.
    • Mail to (confirm current address) AST Stock Transfer & Trust, 6201 15th Ave,Brooklyn, NY 11219-5498, tracking recommended.
  3. Send Letter of Instruction to AST
    • Letter should reference your ownership of x shares of x company in your account number x and authorize AST to release the share(s) referenced DWAC being initiated by broker x (see example)opens image that shows sample letter.
    • AST does NOT normally require a Medallion Guarantee stamp for transactions under $10,000.
    • Mail to (confirm current address) AST Stock Transfer & Trust, ATTN: DWAC Dept, 6201 15th Ave, Brooklyn, NY 11219-5498 , tracking recommended.
  4. Contact Your Broker To Initiate DWAC Electronic Transfer From AST
    • Because most broker transfer departments are not familiar with DWACing a security that has multiple transfer agents, it is very important to include the following in their transfer request:
      • "The security being DWAC'd is a non-sponsored ADR that has multiple transfer agents so it is necessary to select Equiniti/AST as the transfer agent for this DWAC. 

        If the DWAC is being set up using PBS, there is a hyperlink at the bottom of the screen that reads “TA-ADR.” Clicking this link brings up a list of agents and associated depositary banks. The user can simply click the Equiniti/AST.

        If the DWAC is being set up using PTS, there should be an “F-key” (F3, F4, F5) identified at the top or bottom of the screen to bring up the same agent/bank menu.  Select Equiniti/AST.
  5. Notify Equiniti as to When Broker Will Initiate DWAC so AST Can Look For It
    • Basically the broker initiates the transfer and sits temporarily in a clearing account waiting to be accepted.  If not accepted in a day or two, it expires.
    • Contact for notification:  DWAC Department: (718) 921-8257 Select ‘option 2’ when prompted
  6. Place Sell Order With Broker
    • Once the shares hit your brokerage account, you can place your sell order.