Sonora Investment Management of Tuscon, AZ owned 5.2M shares as of 12/31/07. This was a 6.6% stake on a reported basis and a 4.1% stake on a diluted basis (using my own figure of 126M diluted shares for valuation purposes).
This means that Sonora was (and probably still is) GTC’s third largest shareholder after LFB and WHI.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”