According to the eagle-eyed SEC-filing expert Footnoted.org, the SEC’s EDGAR filing system slowed down markedly on Friday as Blackrock dumped over 1,800 13-G filings into the system. The entire deluge happened within the span of two and a half hours.
What’s crazy is that these 13-G filings are generally required when one’s ownership of a company exceeds 5%.
While it would be surprising enough had these been old positions, in fact most appear to have been new ones:
Footnoted: With few rare exceptions, these filings represented new positions for Blackrock since we only counted 11 amended 13Gs, which in itself seems very surprising, given the long list of stocks.
…
And, indeed, there’s a lot of household names on the list including some big names in tech like Apple (AAPL), AOL (AOL), Google (GOOG), Yahoo (YHOO) — several of which Dow Jones picked up on on Friday afternoon. But there’s a lot more names on the list too, including United Technologies (UTX), Toll Brothers (TOL), and even footnoted frequent flyer Martha Stewart Omnimedia (MSO) where Blackrock disclosed a stake of just over 7%.
Actually, a far more interesting project might be trying to figure out who wasn’t on the list since with 1,800-plus filings, just about any company over even a relatively modest market cap.
Here’s one for the conspiracy theorists — Blackrock is everywhere. It’s as if they own a substantial stake in most major companies on the stock market.
Join the conversation about this story »
See Also:
- Black Rock Hedge Fund Manager Stops Investing In Agriculture, Decides To Live On A Farm Instead
- Meet The Goldman Executive Who Became A Cowboy And Pissed Off Lloyd Blankfein
- All Of Europe’s Hedge Funds Could Move To Switzerland