SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by The Blackstone Group L.P. for the quarter ended September 30, 2010. The report discloses equity securities held by the institutional investment manager and includes holdings for two other included managers: Blackstone Capital Partners V L.P. and GSO Capital Partners LP. The report was signed by John G. Finley on November 15, 2010.
Key Financial Metrics
As this is a Form 13F filing, it reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of Blackstone Inc. itself.
- Total Reported Value: $3,031,615,000 (approx. $3.03 billion).
- Total Number of Holdings: 28 entries.
- Top Holdings by Value:
- TRW Automotive Holdings Corp: $758,758,000
- Republic Services Inc: $661,618,000
- Team Health Holdings, Inc: $571,740,000
- Graham Packaging Holdings Company: $471,551,000
- Orbitz Worldwide Inc: $243,703,000
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of the period end. It does not contain comparative data against the prior quarter to determine material changes in position size or total portfolio value. The portfolio is diversified across various sectors including automotive, waste management, healthcare, packaging, and technology. Notable derivative positions include call options on Beazer Homes USA Inc, IWM (Russell 2000), and SPY (S&P 500).
Management Commentary, Risks, and Contingencies
The filing contains no management commentary, forward-looking guidance, or risk factors regarding the company's operations. However, specific investment discretion notes are provided:
- Orbitz Worldwide Inc: Shares are under the investment discretion of Blackstone LR Associates (Cayman) V Ltd., controlled by Stephen A. Schwarzman, not The Blackstone Group L.P. directly.
- Graham Packaging Holdings Company and Republic Services Inc: Shares are under the investment discretion of Mr. Stephen A. Schwarzman personally.
Key Facts for Investor Verification
- Verify the distinction between holdings managed by The Blackstone Group L.P. versus those managed by Stephen A. Schwarzman or affiliated entities (Blackstone LR Associates).
- Confirm the total portfolio value of approximately $3.03 billion represents only the specific accounts covered by this filing and not the firm's total assets under management.
- Note the significant concentration in TRW Automotive, Republic Services, and Team Health, which collectively represent over 50% of the reported portfolio value.
- Review the presence of call options on Beazer Homes, IWM, and SPY as indicators of specific market views or hedging strategies employed during the quarter.