What does it mean to own shares in a "street name"

Question: What does it mean to own shares in a "street name"

Answer: Some investors hold physical stock certificates; pieces of paper with their name on them that represent their ownership in a corporation. Other investors are invested in a DRIP, or dividend reinvestment program, and their shares are noted by the company’s registrar in an electronic journal; this is known as “book entry”. In both cases, the company can quickly and easily access the total number of shares you own and / or contact you directly.

The most popular holding form for most investors, however, is through a brokerage account or asset management account. When you buy shares of Coca-Cola or The Washington Post through your broker, they aren’t physically sitting in a vault with your name on them. Instead, the broker has them registered in its name; that is, Coke won’t know that you own the shares, it only sees that Schwab or Fidelity owns X number of shares. The brokers, in turn, track who owns what internally.