SCHEDULE 13G: State Street Corporation Discloses 5% Passive Stake in ODP Corp. Common Stock

State Street Corporation has filed a Schedule 13G, reporting a 5% beneficial ownership stake in ODP Corp.'s common stock as of March 31, 2025, held for investment purposes.

Summary

• State Street Corporation reported beneficial ownership of 1,488,185 shares of ODP Corp. common stock.
• This represents a 5% ownership stake in ODP Corp.'s common stock.
• The filing indicates that State Street Corporation holds these shares with shared voting power over 1,347,987 shares and shared dispositive power over all 1,488,185 shares.
• The shares are held in the ordinary course of business and not for the purpose of changing or influencing control of ODP Corp.
• The filing was made by State Street Corporation as a parent holding company, with several investment adviser subsidiaries identified as acquiring the securities, including SSGA Funds Management, Inc., State Street Global Advisors Asia Limited, State Street Global Advisors Europe Limited, State Street Global Advisors Limited, State Street Global Advisors Trust Company, and State Street Global Advisors, Ltd.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly alter sentiment about the issuer's performance or prospects. It's a neutral, compliance-driven filing.

Positives

• The disclosure indicates a significant institutional investment by State Street Corporation, a major financial institution, in ODP Corp.
• The passive nature of the investment suggests it is held for ordinary course investment purposes rather than activist intent, which can be viewed positively by management.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

Schedule 13G filings are routine disclosures by institutional investors, such as State Street Corporation, when they acquire more than 5% of a company's voting stock with a passive investment intent. This indicates that a large financial institution has taken a significant, non-activist stake in ODP Corp., which is common for diversified investment portfolios.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's passive stake, potentially signaling confidence from a major investor.
• Management: Reassures management that the 5% stake is for investment purposes and not intended for control or activism.

Key Dates

Keywords

ODP Corp., State Street Corporation, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing