SEC Filing Summary: Blackstone Group L.P. (Form 13F-HR)
Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Blackstone Group L.P., an institutional investment manager, for the calendar quarter ended December 31, 2014. The report was signed by John G. Finley on February 17, 2015. The filing discloses equity securities held by the manager and includes one other included manager: GSO Capital Partners LP (File Number 28-12332).
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 Group L.P. itself. Key metrics disclosed include:
- Total Portfolio Value: $35,427,553,000 (reported in thousands).
- Total Number of Holdings: 58 entries in the Information Table.
- Number of Other Included Managers: 1.
The filing text does not provide data on Blackstone Group L.P.'s revenue, profit margins, debt levels, or liquidity positions.
Material Changes and Portfolio Composition
The filing details specific ownership structures and voting authorities for several significant holdings, noting distinctions between shares under the direct discretion of Blackstone Group L.P. and those under affiliated entities:
- Freescale Semiconductor Ltd: Blackstone-affiliated funds hold 48.02% of Class A limited partnership interests in Freescale LP, representing voting authority over 196,136,895 shares.
- Kosmos Energy Ltd: Includes 2,123,635 shares under the discretion of Blackstone Family GP L.L.C. (controlled by Stephen A. Schwarzman), with total voting authority over 96,552,512 shares.
- Nielsen Holdings N V: Represents a proportionate interest in 54,085,666 shares held via Valcon Acquisition Holding (Luxembourg) S.a.r.l.
- Orbitz Worldwide Inc: Shares are under the discretion of Blackstone LR Associates (Cayman) V Ltd., not directly under Blackstone Group L.P.
- Michaels Cos Inc & Pinnacle Foods Inc: Specific share counts are noted as being under the discretion of Blackstone Family GP L.L.C.
- PBF Energy Inc: Holdings reported as Series A Units exchangeable for Class A common stock.
The filing does not provide comparative data against the prior quarter to quantify material changes in position size or value.
Guidance, Risks, and Contingencies
This filing type does not contain management guidance, outlook, or risk factors regarding the reporting manager's operations. However, it includes standard SEC disclaimers stating that the Commission has not reviewed the information for accuracy or completeness. The footnotes highlight complex ownership structures involving general partners and affiliated funds, which may imply varying degrees of control and investment discretion across the reported portfolio.
Investor Verification Checklist
- Verify the distinction between shares held directly by Blackstone Group L.P. versus those held by affiliated entities (e.g., Blackstone Family GP L.L.C., GSO Capital Partners LP) to understand actual voting control.
- Confirm the total portfolio value of approximately $35.4 billion against other public disclosures for the same period.
- Review the specific footnotes (A through H) to understand the nature of indirect holdings, particularly for Freescale, Nielsen, and Orbitz.
- Note that this document does not reflect Blackstone Group L.P.'s own financial health (revenue, debt, cash flow); refer to 10-K or 10-Q filings for that data.