SEC Form 13F Information Table Summary
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Blackstone Inc. for the reporting period ending March 31, 2017. The document discloses equity securities held by the investment manager with sole, shared, or discretionary voting authority. It does not contain financial performance data (revenue, profit, cash flow) for Blackstone Inc. itself, but rather a snapshot of its external investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing lists 40 distinct holdings across various sectors, including energy, real estate, consumer discretionary, and technology. Key portfolio metrics include:
- Total Disclosed Value: The sum of the "Value" column (in thousands) for all listed securities is approximately $838.5 million.
- Largest Holdings by Value:
- Invitation Homes Inc: $219,945,349
- Kosmos Energy Ltd: $83,052,512
- Vivint Solar Inc: $82,359,374
- Hilton Worldwide Holdings Inc: $50,028,965
- La Quinta Holdings Inc: $35,173,076
- Asset Types: The portfolio consists primarily of common stock ("COM"), with minor holdings in preferred stock ("PRN"), warrants ("W"), and exchange-traded funds (SPDR Series Trust).
- Voting Authority: Most positions are held with "Sole" or "Other" (OTR) voting authority. No "Shared" voting authority is listed for the top holdings.
Material Changes and Comparisons
The filing text provided is a static snapshot of holdings as of March 31, 2017. It does not provide comparative data against the prior quarter (December 31, 2016) or prior year. Therefore, material changes in position size, new acquisitions, or divestitures cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing does not contain management commentary, forward-looking guidance, risk factors, or contingency disclosures. It is a regulatory disclosure of holdings only. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Portfolio Concentration: Verify if the top 5 holdings (Invitation Homes, Kosmos Energy, Vivint Solar, Hilton Worldwide, La Quinta) represent a significant portion of Blackstone's total AUM or if this table represents only a specific fund or account.
- Energy Sector Exposure: Note the significant exposure to energy companies (Kosmos Energy, Cheniere Energy, CVR Partners, Sanchez Energy, Sandridge Energy) which may carry sector-specific volatility risks.
- Real Estate Focus: Confirm the strategic intent behind large positions in single-family rental (Invitation Homes) and hospitality (Hilton, La Quinta, Park Hotels) assets.
- Derivatives and Warrants: Verify the nature of the warrant positions held in Eastman Kodak Co and the Put option held in SPDR Series Trust.
- Reporting Scope: Confirm whether this table represents Blackstone's entire equity portfolio or a subset, as Form 13F is required for institutional investment managers with over $100 million in qualifying assets.