SEC Filing Summary: Blackstone Inc. (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Blackstone Inc. for the reporting period ending June 30, 2025. The document discloses the equity securities held by the investment manager at the end of the quarter. It is a regulatory disclosure of holdings and does not contain financial performance data (revenue, profit, cash flow) for Blackstone Inc. itself.
Key Financial Metrics and Holdings
The filing lists specific equity positions, including common stock, preferred stock, and exchange-traded funds (ETFs). Key metrics provided are the number of shares held and the aggregate market value of each position. The filing does not provide consolidated revenue, profit, margins, debt, or liquidity figures for Blackstone Inc.
- Total Positions Disclosed: Over 100 distinct issuers.
- Largest Energy Holdings (by Value): Williams Cos Inc ($1.21B), Cheniere Energy Partners LP ($5.72B), Energy Transfer LP ($845.9M), Enbridge Inc ($648.1M).
- Largest Technology Holdings (by Value): Alphabet Inc (Class A & C combined ~$44M), Amazon.com Inc (~$50M), CoreWeave Inc (~$676M).
- Significant Biotech/Healthcare Positions: Amicus Therapeutics Inc (~$14M), Autolus Therapeutics PLC (~$46.7M), Compass Therapeutics Inc (~$26M).
- ETF Holdings: SPDR S&P 500 ETF Trust (~$804M), iShares iBoxx High Yield ETF (~$322.6M).
Material Changes and Voting Authority
As this is a snapshot of holdings at a single point in time, the filing does not explicitly state material changes versus the prior period. However, the "Voting Authority" column indicates the nature of control:
- Sole Discretion: Blackstone holds sole voting authority for specific positions, including Blackstone Mortgage Trust Inc (8.6M shares), Blackstone Secured Lending Fund (3.2M shares), Corebridge Financial Inc (61.9M shares), and Clearwater Analytics Holdings Inc (4.1M shares).
- Other Discretion (OTR): The majority of positions are listed with "Other" discretion, indicating shared or managed authority.
- Derivatives: The filing discloses specific Put and Call options, including positions in CoreWeave Inc (Put), iShares iBoxx High Yield ETF (Put), SPDR S&P 500 ETF (Put), Webull Corp (Put), and Venture Global Inc (Call).
Guidance, Outlook, and Risks
The filing text does not provide management commentary, forward-looking guidance, risk factors, or contingencies. Form 13F is a statutory disclosure of holdings and does not include narrative sections regarding future outlook or operational risks.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column, noting that this represents only the reported equity securities and may not reflect the full balance sheet of Blackstone Inc.
- Confirm the specific voting authority (Sole vs. Other) for the disclosed positions in Blackstone's own affiliated entities (e.g., Blackstone Mortgage Trust, Corebridge Financial).
- Review the derivative positions (Puts and Calls) listed for CoreWeave, Webull, and major ETFs to understand hedging strategies.
- Cross-reference the "Other" discretion holdings to determine if they represent managed accounts for third-party clients versus proprietary capital.
- Note that the filing date (June 30, 2025) is a future date relative to current real-time; verify the accuracy of the reporting period if this is a hypothetical or projected scenario.