Since the publication of Universals and Scientific Realism (Armstrong 1978a, b) until Sketch for a Systematic Metaphysics (Armstrong 2010), via Universals: An Opinionated Introduction (Armstrong 1989), a World of States of Affairs (Armstrong 1997), and Truth and Truthmakers (Armstrong 2004), David Armstrong has developed one of the most influential theories of instantiation in contemporary analytic metaphysics (see, for example, Lewis, in Aust J Phil 61(4), 343–377, 1983; Baxter in Aust J Phil, 79, 449–464, 2001; Forrest, in Aust J Phil, 83, (...) 213–228, 2006). Instantiation has been advocated by Armstrong to give a solution to what he has called the “pressing problem” of “the multiple location of property universals” (Armstrong, in Universals: An opinionated introduction. University Press, Cambridge, 1989, pp. 89–90). Here I argue that Armstrong’s theory of instantiation fails to solve the problem because it involves two kinds of instantiation to account for particulars “having” and “sharing” universals. As a viable alternative to Armstrong’s theory, I propose a theory of instantiation capable of accounting for both phenomena in a univocal way. (shrink)