Commentary - 11/23/2007

Blackrock And The Superfund Family

Once again, unless you really know the players behind the facade, how can you possibly understand what's really taking place?

Here's the Reuters article about Blackrock being asked to head a $75Billion superfund:

BlackRock approached to lead big backup fund
Wednesday November 21, 1:08 pm ET
BOSTON (Reuters) - America's three biggest banks have asked BlackRock Inc. to act as the lead asset manager for a $75 billion fund they are creating to support the asset-backed securities market, a source said on Wednesday.

Bank of America, Citigroup, JPMorgan Chase are heading a large-scale effort to raise billions of dollars for the new fund that is supposed to help structured investment vehicles sell hard-to-value paper they hold without further unnerving already jittery credit markets.

Critics of the fund have said it amounts to a bailout for players who made bad business decisions when setting up the structured investment vehicles known as SIVs. Supporters say it is necessary to keep credit markets, which have been nervous for months, from suffering more shocks.

While the company usually likes to keep a relatively low profile, its founder, Laurence Fink, put it in the spotlight recently when he was rumored to have been tapped to head Merrill Lynch.

A spokesman for Bank of New York Mellon, one of the biggest U.S. custodians, declined to comment.

Okay, those were quotes from the article. The links above take you to a snapshots of each of the players. One can just imagine the behind-the-scenes-drama as it's being played out by these Major Holders. There is no insider-trading. Nah. Conspiracy theories? Nah, the British and French players, although Major Holders, don't really have that much control. Nah. But the Barclay [British] and AXA [French] names sure do keep coming up. Especially Atticus*, which has young Rothschilds at the table. Some names just never fade away.
Symbol Name Of Corporation
BLK

Major
Holders
BlackRock, Inc. (As of 30-Jun-2007) (As of 30-Jun-2006)

Top 10 Institutional HoldersShares2007Value2006
Merrill Lynch & Co., Inc.65,000,25056.11%$10,178,389,147-.--%
PNC Financial Services Group, Inc.43,378,83537.45%$6,792,691,7727.59%
Highfields Capital Management L.P.2,373,5602.05%$371,675,7602.30%
Atticus Capital LP *1,012,700.87%$158,578,6930.95%
Transamerica Investment Management LLC (The Hague, Netherlands)987,790.85%$154,678,0361.16%
Barclays Global Investors UK Holdings Ltd802,548.69%$125,670,991-.--%
Wellington Management Company, LLP716,300.62%$112,165,4171.32%
Kinetics Asset Management Inc.645,570.56%$101,089,806-.--%
Calpers (California-Public Employees Retirement System)593,560.51%$92,945,560-.--%
Putnam Investment Management, LLC555,845.48%$87,039,768-.--%
% of Shares Held by All Insider and 5% Owners:4%7%
Top 10 [5.7%] of 173 Institutional Holders Control100%17.84%
Percentage of Barclays and "Associates" Control94.04%9.22%
NOTE: 10/28/07-Bloomberg: Merrill's holdings include a 49.8 percent stake in money manager BlackRock Inc., so this must be close.

Symbol Name Of Corporation
BAC

Major
Holders
Bank of America Corporation (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
Barclays Global Investors UK Holdings Ltd216,775,4484.89%$10,598,151,6524.15%
State Street Corporation134,600,7503.03%$6,580,630,6672.99%
FMR Corporation (Fidelity Management & Research Corp)132,450,5652.98%$6,475,508,1223.35%
AXA (Paris, France)129,794,7332.93%$6,345,664,4962.65%
Vanguard Group, Inc. (The)126,717,1892.86%$6,195,203,3702.58%
Wellington Management Company, LLP107,157,5252.41%$5,238,931,3972.82%
Capital Research And Management Company101,852,5122.30%$4,979,569,3112.03%
Mellon Financial Corporation59,495,0001.34%$2,908,710,5501.39%
Northern Trust Corporation53,361,4401.20%$2,608,840,8011.29%
Goldman Sachs Group Inc49,079,2391.11%$2,399,483,994-.--%
% of Shares Held by All Insider and 5% Owners:1%1%
Top 10 [0.7%] of 1375 Institutional Holders Control25.05%24.42%
Percentage of Barclays and "Associates" Control11.57%9.82%
NOTE: Bank of America buys U.S. Trust.

Symbol Name Of Corporation
C

Major
Holders
Citigroup Inc. (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
Capital Research And Management Company230,517,1774.63%$11,823,226,0083.59%
Barclays Global Investors UK Holdings Ltd179,123,5203.60%$9,187,245,3404.70%
State Street Corporation150,346,2923.02%$7,711,261,3163.11%
AXA (Paris, France)144,848,2382.91%$7,429,266,1273.43%
Vanguard Group, Inc. (The)139,606,1012.81%$7,160,396,9202.55%
Wellington Management Company, LLP104,426,2062.10%$5,356,020,1052.39%
FMR Corporation (Fidelity Management & Research Corp)87,306,8111.76%$4,477,966,3361.42%
Morgan Stanley69,711,3061.40%$3,575,492,8841.28%
UBS Global Asset Management (Americas) Inc68,769,9851.38%$3,527,212,5301.28%
Mellon Financial Corporation57,947,5341.16%$2,972,129,018-.--%
% of Shares Held by All Insider and 5% Owners:1%1%
Top 10 [0.7%] of 1479 Institutional Holders Control24.77%25.01%
Percentage of Barclays and "Associates" Control9.18%10.35%

Symbol Name Of Corporation
JPM

Major
Holders
JPMorgan Chase & Co (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
AXA (Paris, France)177,718,2485.25%$8,610,449,1153.91%
Barclays Global Investors UK Holdings Ltd173,206,9805.12%$8,391,878,1815.05%
State Street Corporation108,849,3053.22%$5,273,748,8273.12%
Vanguard Group, Inc. (The)98,145,8192.90%$4,755,164,9302.54%
Capital Research And Management Company79,813,9012.36%$3,866,983,5033.32%
FMR Corporation (Fidelity Management & Research Corp)76,899,6392.27%$3,725,787,5092.00%
Legg Mason Inc.75,441,5802.23%$3,655,144,5512.20%
Davis Selected Advisers, LP74,599,9782.20%$3,614,368,9342.05%
Mellon Financial Corporation47,720,6851.41%$2,312,067,1881.28%
Morgan Stanley47,578,7051.41%$2,305,188,2571.25%
% of Shares Held by All Insider and 5% Owners:0%0%
Top 10 [0.7%] of 1277 Institutional Holders Control28.37%26.72%
Percentage of Barclays and "Associates" Control13.39%12.90%

Symbol Name Of Corporation
MER

Major
Holders
Merrill Lynch & Co. Inc. (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
State Street Corporation74,841,0928.71%$6,255,218,4698.76%
AXA (Paris, France)62,197,0867.24%$5,198,432,4474.89%
Barclays Global Investors UK Holdings Ltd39,597,0184.61%$3,309,518,7643.85%
Legg Mason Inc.27,611,4813.21%$2,307,767,5813.62%
FMR Corporation (Fidelity Management & Research Corp)25,786,8363.00%$2,155,263,7523.26%
Vanguard Group, Inc. (The)24,223,9592.82%$2,024,638,4932.51%
Morgan Stanley16,344,1831.90%$1,366,046,8152.17%
Janus Capital Management, LLC13,945,5291.62%$1,165,567,313-.--%
Goldman Sachs Group Inc. 13,799,3551.61%$1,153,350,0901.15%
Mellon Financial Corporation13,128,9171.53%$1,097,314,882-.--%
% of Shares Held by All Insider and 5% Owners:0%0%
Top 10 [1.1%] of 875 Institutional Holders Control36.25%30.24%
Percentage of Barclays and "Associates" Control23.19%20.86%

Symbol Name Of Corporation
BK

Major
Holders
The Bank of New York Mellon Corporation (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
Capital Research And Management Company40,803,0003.59%$1,690,876,3207.68%
Massachusetts Financial Services Co - Other30,529,4652.68%$1,265,141,0292.68%
Lord Abbett & Co25,867,4122.27%$1,071,945,5532.83%
Barclays Global Investors Uk Holdings Ltd22,795,3252.00%$944,638,2682.84%
Vanguard Group, Inc. (The)21,015,7271.85%$870,891,7262.59%
Franklin Resources, Inc19,660,7881.73%$814,743,0542.47%
State Street Corporation18,951,7371.67%$785,359,9812.57%
FMR Corporation (Fidelity Management & Research Corp)16,972,8401.49%$703,354,4891.97%
Primecap Management Company16,273,1621.43%$674,359,8332.09%
Bank Of New York Co9,190,775.81%$380,865,716-.--%
% of Shares Held by All Insider and 5% Owners:0%0%
Top 10 [x.x%] of 10? Institutional Holders Control19.52%34.04%
Percentage of Barclays and "Associates" Control8.08%13.03%
NOTE: Statistics are somewhat skewed because of Mellon and Bank of New York merger.


2007 by Edward Ulysses Cate

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