Very good document about who controls the voting shares vs ownership. This part was interesting "BlackRock has recently responded to these concerns. 4 Among others, they argue that the common ownership studies
are based on the misleading assumption that asset managers such as BlackRock own the shares held by their funds. They
point out that the shares are acquired by multiple separate investment funds; BlackRock itself, for instance, has more than
100 index funds and over 800 Exchange Traded Funds. Ownership therefore does not reside at the level of BlackRock as a
group, they argue, but rather at the level of individual funds. Allegedly, if the shares are not owned by the same legal person,
the person cannot influence the policies and actions of rival companies. The common ownership studies are flawed, so
they argue, because they rely on data which does not indicate ownership, as it relies on “threshold reporting.” According to
BlackRock, this is a mere statutory requirement which does not represent a record of the true economic owner of the shares.
In fact, they further imply that not even the funds are the true “owners” of the shares, but rather the clients that ultimately
invest in their funds." You should study this document more. For your own benefit. You can skip over investment advice such as passive or managed investments. Find more info on how influential Blackrock is on behalf of the real shareholder as Blackrock is just an asset manager. I would guess that Blackrock holds most of the assets for the US Treasury bought via quantitative easing or QE. Spend the next couple of weeks or 4-8 hours on drilling into this document to look for clues of such.