SEC Filing Summary: Blackstone Group L.P. (13F-HR)
Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Blackstone Group L.P. for the reporting period ended December 31, 2018. The report was signed on February 14, 2019, by John G. Finley. It discloses equity securities held under the investment discretion of Blackstone Group L.P. and four other included managers: GSO Capital Partners LP, Blackstone Management Partners L.L.C., Clarus Ventures, LLC, and Blackstone Alternative Solutions L.L.C.
Key Financial Metrics
As a Form 13F filing, this document reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of Blackstone Inc. itself. Key metrics disclosed include:
- Total Portfolio Value: $17,950,338,000 (reported in thousands).
- Total Number of Holdings: 56 entries in the Information Table.
- Number of Included Managers: 4 additional managers besides the primary filer.
Note: The filing text does not provide values for revenue, profit, margins, debt, or liquidity for Blackstone Inc. as an operating entity.
Material Changes and Disclosures
The filing includes specific footnotes regarding investment discretion and shared control:
- Shared Control: Blackstone may be deemed to have shared investment discretion with First Eagle Investment Management, LLC (alongside Corsair Capital) and Harvest Fund Advisors LLC (an indirect subsidiary), despite information barriers.
- Family GP Holdings: Certain shares of Kosmos Energy Ltd (995,919 shares) and Michaels Cos Inc (520,940 shares) are under the discretion of Blackstone Family GP L.L.C., controlled by Stephen A. Schwarzman, rather than Blackstone Group L.P. directly.
- Options: Reported options may include multiple series of call or put options for a single issuer.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide management commentary, future guidance, or outlook statements.
Risks and Contingencies: The document contains a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. It does not list specific operational risks or contingencies beyond the regulatory disclosures regarding shared control and investment discretion.
Investor Verification Checklist
- Verify the total portfolio value of approximately $17.95 billion against Blackstone's quarterly earnings reports for Q4 2018 to understand the proportion of assets under management represented here.
- Confirm the distinction between holdings under Blackstone Group L.P. discretion versus those under Blackstone Family GP L.L.C. discretion (specifically Kosmos Energy and Michaels Cos).
- Review the full Information Table (not included in this summary) to identify the top 10 holdings by value.
- Check subsequent filings to track changes in the 56 reported positions.