Tuesday, February 17, 2009

The History of CRMC's Recent Beneficial Ownership of Schering-Plough. . . .


CRMC, or Capital Research Management Co., acts as an investment adviser to many institutional and individual investors. Thus, under the applicable SEC Section 13 rules, CRMC must aggregate -- or add up -- all those separate account totals, to report all the registered equity shares of Schering-Plough over which it might be deemed to have the sole power (or shared power) to direct that the shares be disposed. Sold. And that it what has happened -- a significant aggregated sell-off -- from 102 million shares in 2006, to under 82 million shares in 2009.

Thus, we note the below SEC filings (see links):

February 17, 2009: 81,826,100 shares or 5.0%. . . .

February 14, 2008: 0 shares; 0.0% [apparently the holdings were split for that year among two CRMC-affiliated entities, thus falling below the 5 percent reporting threshold -- and that appears to be an errant reading of the 13G rules, given today's filing, above]. . . .

February 12, 2007: 99,918,560 shares or 6.7%. . . .

February 10, 2006: 102,640,720 shares or 6.9%. . .

Which reminds me: where are FMR's, and Wellington's SEC Form 13G filings? Will they show similar drops? Increases? We'll see.

Either way, I'll report it -- when each appears.

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