SEC Proposes a Significant Change in Reporting by Institutional Investors

It is truly amazing how much time and effort and dollars are spent tracking what someone else is doing in the institutional investment space as opposed to actually doing the work yourself. I think it is legitimate for a public company to understand who owns its shares, and this threshold seems  “high” given the high percentage of managers that will fall below the threshold. And there are a lot worse annoyances and expenses that “less than BlackRock” sized managers face.