APPENDIX TABLE 1-A.-CONCENTRATION OF STOCK HOLDINGS DATA FOR A SAMPLE OF 50 STOCKS HELD IN HIGH CONCENTRATIONS PRIMARILY BY 50 BANK TRUST DEPART. MENTS,” (FULL VOTING RIGHTS ONLY),” SEPTEMBER 30, 1969—Continued Boeing Co.: Bank trust departments.... panies- Total..... Bank trust departments.... panies.--Other institutions. Total...... Bank trust departments...- panies.- Total. Bank trust departments.... panies.. Total... United Airlines: Bank trust departments --- panies. -- Total..... Bank trust departments - panies.. Total...--- Bank trust departments --- panies--- Total.... Bank trust departments..-- panies APPENDIX TABLE 1-A.-CONCENTRATION OF STOCK HOLDINGS DATA FOR A SAMPLE OF 50 STOCKS HELD IN HIGH CONCENTRATIONS PRIMARILY BY 50 BANK TRUST DEPART. MENTS, (FULL VOTING RIGHTS ONLY), SEPTEMBER 30, 1969_Continued Revlon Inc.: Bank trust departments.--- panies.--- Total.. Bank trust departments... panies--- Total... Bank trust departments.... panies.... Other institutions. Total.... Bank trust departments.-- panies.--- Total...--- Bank trust departments.... panies.-... Other institutions. Total. Footnotes at end of table. APPENDIX TABLE 1-A.-CONCENTRATION OF STOCK HOLDINGS DATA FOR A SAMPLE OF 50 STOCKS HELD IN HIGH CONCENTRATIONS PRIMARILY BY 50 BANK TRUST DEPART. MENTS, (FULL VOTING RIGHTS ONLY), SEPTEMBER 30, 1969—Continued *Figures may not total due to rounding. growing part of the trust department accounts. The specific voting · These 50 bank trust departments were the largest in the Nation rights that the bank trusts had in these cases were not discussed. at the date for which the data were prepared. These data were Separate portfolio concentration percentage rankings were collected as a part of the 1971 Institutional Investor Study report of prepared for bank trust departments and regulated investment the Securities and Exchange Commission. The special run of these companies. These rankings were prepared as a part of the special data was provided by the SEC. Chairman Casey offered to provide tabulations made by the SEC at the request of Senator Metcalf. these data during the 1972 Hearing on S. 448 because of the These rankings are ordered from high to low in terms of the perinadequacy of the data included in the Institutional Investors Study centage of voting stock held of each portfolio company in the sample report. These data were collected but they were neither published held by each general type of financial institution. In the bank trust nor analyzed as a part of that report. department case only shares for which sole voting authority was 3 The 50 trust departments had sole voting authority over held were included in the ranking. For example, the 32.992 percent approximately 80 percent of the stocks in employee benefit accounts, of Emery Industries stock was held by the bank trust departments over less than 30 percent of the personnel trust accounts and over was the largest percentage of any company's stock held by such less than 10 percent of the asset in the agency accounts. Overall, institutions. General Reinsurance ranked second; 30.632 percent these 50 trust departments had sole voting authority over 55 per- of its stock was held by the bank trust departments. cent of the market value of the trust accounts. This percentage will * More exactly the shares reported to the Institutional Investors increase because employee benefit accounts are the most rapidly Sludy report were those held by the investment advisors of registered investment companies. |