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 June 30, 2008. The report discloses equity securities held by the institutional investment manager and includes holdings for three other affiliated managers: Blackstone Capital Partners V L.P., Blackstone Kailix Advisors L.L.C., and GSO Capital Partners LP. The report was signed by Robert L. Friedman on August 14, 2008.
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 from the filing include:
- Total Reported Value: $4,452,626,000 (approx. $4.45 billion).
- Total Number of Holdings: 73 entries.
- Largest Single Position: TRW Automotive Holdings Corp. valued at $850,733,000 (46,060,285 shares).
- Top 5 Holdings by Value:
- TRW Automotive Holdings Corp. ($850.7M)
- Allied Waste Industries Inc. ($604.6M)
- SPDR Trust (Put Options) ($217.6M)
- Orbitz Worldwide Inc. ($230.6M)
- Alpha Natural Resources Inc. ($271.2M)
Note: The filing does not provide data on Blackstone's corporate debt, liquidity, operating margins, or cash flow.
Material Changes and Unusual Items
The filing contains a specific explanatory note regarding a correction to a prior period's data:
- Correction for Olin Corp: The report notes that the market value and share count for Olin Corp. reported in the March 31, 2008 filing were incorrect. The corrected values for the current period are $5,236,000 and 200,000 shares, respectively (the prior error was noted as $3,952,000).
- Derivatives: The SPDR Trust position includes two series of put options.
The filing does not provide comparative data for the prior quarter to calculate percentage changes in total portfolio value or specific holdings.
Guidance, Outlook, and Risks
This Form 13F filing is a statutory disclosure of holdings and does not contain management commentary, forward-looking guidance, risk factors, or contingency plans. Investors must refer to Blackstone's Form 10-Q or 10-K for such information.
Key Facts for Investor Verification
- Verify the total portfolio value of approximately $4.45 billion against Blackstone's broader asset management disclosures.
- Confirm the significant concentration in TRW Automotive Holdings Corp., which represents roughly 19% of the reported portfolio value.
- Note the inclusion of put options on SPDR Trusts, indicating a hedging strategy or specific market view on the S&P 500.
- Review the correction regarding Olin Corp. to ensure historical data accuracy in internal models.
- Understand that this report covers only equity securities and does not reflect private equity, real estate, or credit holdings managed by Blackstone.