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.
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