GetCoattail Research — The Filing Tape #201. Blackstone Inc. (BX) through six filing lenses, as of the latest filings. Past patterns are not a promise of future results. For education only — not investment advice.
The Hype
Blackstone Inc. (BX) is on TipRanks' "Trending Stocks by Analyst" page, where it sits with 4 Buy, 6 Hold and 0 Sell ratings, a Moderate Buy consensus, and a $137.19 price shown against 16.29% upside. The fresher news behind the attention is the third quarter. Blackstone reported Q3 2026 results on October 22, 2026: Zacks reports distributable earnings of $1.32 per share, beating the $1.26 consensus but down 13% year over year, with total assets under management rising 10% to a record $1.37 trillion on $63.3 billion of quarterly inflows, while fee-related earnings grew 6% to $1.57 billion and segment revenues fell 3% year over year. The analyst reaction after the print leaned cautious rather than celebratory: TipRanks reports Goldman Sachs maintained a Hold on October 23 and trimmed its price target to $125, citing softer 2026 management-fee growth and more muted realisation activity, especially in real estate. Those are reported figures and reported analyst actions, cited as the attention story — not figures this article verifies. The price tape behind the attention is a fall from a high base, not a rally.
The price tape is measured, not borrowed. BX closed 2025 at $154.14, stood at $114.99 by March 31, 2026, then rose 2.3% in Q2 to $117.67 by June 30, and closed the price file on October 2 at $111.75 — 5.0% below its June 30 close and 27.5% below its 2025 year-end close. The daily refresh (cross-source) puts the October 23 close at $117.97 — 5.6% above the October 2 close and 23.5% below the 2025 year-end close. While the price fell from its 2025 year-end level, what did the tracked holders, the broad market, insiders, members of Congress, and the passive register actually do?
The Tape
| Lens | As of | What the filings show | Direction vs prior period |
|---|---|---|---|
| Superinvestors (13F) | Jun 30, 2026 | 7 of 147 tracked managers hold; 2,934,936 shares ($345.35M reported). Edgewood is 49.8%, Markel 41.9%. | Verified continuing cohort shares −26.0%; no new holders, no exits; register = cohort, residual 0 |
| All institutions (13F) | Jun 30, 2026 | 2,156 filers hold 533,750,275 shares ($65.60B reported). | Shares +18.0%; filers +46; reported value +21.86% |
| Insiders (Form 4) | Oct 2, 2026 | 3 buys, 7 sells in 90 days ($62,445 bought, $24.45M sold); 0 officer buys in any window. | Buys are non-officer only; sells outweigh buys in every window |
| Congress | Oct 3, 2026 | No transactions in any congress file. | None — no House row, no Senate row, no member-file row |
| 13D/G | Apr 29, 2026 | 3 filings, all Schedule 13G forms; Vanguard Capital Management max 7.53%. | Entirely passive; no activist-form filing |
| Short interest | Sep 15, 2026 | 19,659,385 shares short, 2.62% of shares outstanding; 5.62 days to cover. | 47.0% below the October 2023 peak; −8.62% from prior settlement; −15.0% vs June; +57.7% year over year |
Chart: BX through six filing lenses — who is actually there?
Superinvestors. The tracked register for BX is small, concentrated in two names, and mostly still. Seven of 147 tracked managers hold 2,934,936 common shares — $345,353,919 reported — and the two largest holders are 91.7% of it. Edgewood Management holds 1,460,959 shares at 1.77% of its portfolio, DECREASED −41.9% against a verified Q1 pair of 2,513,803 shares. Thomas Gayner - Markel Group holds 1,229,000 shares at 1.10% of its portfolio, UNCHANGED against a verified Q1 pair of 1,229,000 shares. Torray Funds holds 188,812 shares at 3.00% of its portfolio, INCREASED +14.3% against a verified Q1 pair of 165,160 shares. Flossbach von Storch holds 45,000 shares at 0.02% of its portfolio, UNCHANGED. Guinness Asset Management holds 5,115 shares at 0.01% of its portfolio, DECREASED −15.0% against a verified Q1 pair of 6,017 shares. Bill Nygren - Oakmark Funds holds 3,750 shares at 0.00% of its portfolio, UNCHANGED. Kahn Brothers Group holds 2,300 shares at 0.04% of its portfolio, UNCHANGED. All seven continuing labels recompute exactly, under both pairing methods.
The verified continuing cohort fell by more than a quarter: the 7 holders held 3,965,030 shares in Q1, so the cohort shrank 1,030,094 shares, or 26.0%, in Q2. That fall is almost entirely one name. Edgewood alone cut 1,052,844 shares — more than the cohort's net fall, because Torray added 23,652 shares and Guinness cut only 902. Four holders did not move at all. As with the cleanest tapes, there is no hidden story underneath that number — the Q2 register is exactly the cohort, and the Q1 register is exactly the cohort's Q1 pairs. No tracked holder exited, no new holder joined in June, and both registers reconcile with a residual of 0. The cohort is 0.55% of the full market's reported BX shares and 0.39% of shares outstanding — a small footprint that shrank by a quarter while the price rose 2.3% in Q2.
All institutions. The broad market moved the other way from the tracked cohort, on a much larger scale. Filers rose by 46 to 2,156, of which 2,144 are long, while reported shares rose 18.0% (+81,427,060 shares to 533,750,275). Reported value rose 21.86% to $65.60 billion — value up faster than shares, because the June 30 close ($117.67) sits above the March 31 close ($114.99). Underneath, 1,633 filers entered and 1,587 exited, net +46. Excluding the tracked cohort, other institutions hold 530,815,339 shares — so the broad market's Q2 share growth dwarfs the tracked register's fall, and the two moved in opposite directions.
Insiders. This lens holds small buys, large sells, and no officer buying at all. In the 90 days to October 2, 2026, insiders bought 455.14 shares for $62,444.76 and sold 184,500 shares for $24,446,331.63: 6 filings, 3 buys, 7 sells, 1 buyer, 4 sellers, 5 of the sells by officers, 0 officer buys. The buys are all by one non-officer, Porat Ruth, in three fractional lots on August 12, 2026 (126.071, 245.0201 and 84.047 shares). The sells, all filed in August and September 2026, are: Sawhney Vikrant (Chief Administrative Officer), 18,408 shares at $135.2941 and 11,592 shares at $135.9553 on August 5; Payne David (Chief Accounting Officer), 9,500 shares at $145.23 on August 12; Finley John G (Chief Legal Officer), 19,802 shares at $146.80 and 25,198 shares at $147.36 on August 12; and Baratta Joseph (non-officer), 42,246 shares at $123.35 and 57,754 shares at $124.13 on September 18. Dates here are filing dates. In the year to October 2, 2026: 34 filings, 15 buys (28,890.88 shares, $4,235,141.45) against 9 sells (214,514 shares, $28,221,896.77), by 2 buyers and 4 sellers, 0 officer buys, 7 officer sells. Across the whole corpus, the same shape extends: 63 filings, 24 buys (29,836.52 shares, $4,384,107.84) against 20 sells (534,264 shares, $82,386,944.62), by 2 buyers and 4 sellers, 0 officer buys, 14 officer sells. The scan for issuer CIK 1393818 (63 files, all BX, January 14, 2025 to September 18, 2026) matches the aggregate exactly, and the site insider aggregate matches the 90-day window exactly — so the 90-day window is verified three ways. One qualification matters: every buy in the corpus is by a non-officer. The article therefore never says "insiders bought" without that qualifier — officers sold, non-officers bought, and the buys are small next to the sells. Implied prices sit inside the price-file range in every window.
Congress. This lens is blank, and the blank is the finding. There is no BX row in the combined file, no House row, no Senate row, and no member-file row through October 3, 2026. The article reports this as "no congressional transactions in the files", not as proof that no member ever traded BX outside these files' coverage. Had there been transactions, they would be member-disclosure aggregates, not Form 4 insider transactions, and would never be added to insider totals.
13D/G. The control register is entirely passive and thin. It holds 3 filings: 0 Schedule 13D forms, 1 Schedule 13G form, and 2 Schedule 13G/A amendments, from 3 distinct reporter names. The largest reported percentage is 7.53% for Vanguard Capital Management (55,917,468 shares, event March 31, 2026, filed April 29, 2026) — which is also the latest filing. Capital World Investors reported 4.6% (33,238,442 shares, event December 31, 2024, filed February 13, 2025). The Vanguard Group's filing reports 0.0 shares at 0.0% (event March 13, 2026, filed March 26, 2026) — a below-threshold print, quoted as reported, not as a holding. The two Vanguard names are kept separate and not merged. The aggregate matches the parsed set exactly.
Short interest. The bear trade is well below its peak, falling from a July high, but still far above its year-ago level. FINRA short interest stood at 19,659,385 shares at September 15, 2026, with 5.62 days to cover and 2.62% of the 750,625,114 shares outstanding (a point-in-time count as of July 31, 2026). That latest settlement is 47.0% below the series peak of 37,075,266 (October 31, 2023), 8.62% below the prior settlement (21,513,525 at August 31), 15.0% below June 30 (23,138,068), and 57.7% above the year-ago figure (12,462,912 at September 15, 2025). The last six settlements read: 23,138,068 (June 30), 23,614,025 (July 15), 26,477,359 (July 31), 21,868,913 (August 14), 21,513,525 (August 31), 19,659,385 (September 15) — a July peak, then three straight falls. The series low is 5,155,613 (January 29, 2021). One step is flagged as observed: a 2.017× jump from June 15 to June 30, 2021 (10,039,324 to 20,245,473), an early-series move with no stock-split flag row attached to it; the only flag rows in the series are two revision flags (June 15, 2021 and May 31, 2023).
Chart: BX short interest — 137 FINRA settlements, January 2021 to September 2026.
Fundamentals context. Shares outstanding are 750,625,114 (July 31, 2026); FY2025 revenue $14,450,265,000, net income $3,019,214,000, assets $47,708,975,000.
The Gap
The attention and the filing tape pull in different directions here, and the tracked cohort and the broad market pull against each other too. A trending listing and a record-AUM earnings print put BX in front of readers while analysts trimmed targets after the results — yet every tracked holder either stood still or, in Edgewood's case, cut hard, and the verified cohort fell 26.0% in Q2. The broad market, meanwhile, added 18.0% in shares and 46 filers in the same quarter. So the gap is not between the price and the tape as a whole: the broad tape and the Q2 price rise agree, and the tracked corner disagrees with both. Insiders add a quieter disagreement — officers sold and never bought, while the only buys were small, fractional, non-officer lots — while Congress traded nothing at all, the control register holds no activist-form filing, and short interest sits below its peak but above its year-ago level. The market added through the quarter; the tracked holders did not.
What Would Change the Picture
Nothing above is a recommendation. It is a record. What would change it:
- 1. Q3 13F season (filings due by November 16, 2026). Watch whether Edgewood holds or trims further from its 1,460,959 shares, whether Markel moves at all from its unchanged 1,229,000 shares, whether Torray adds again after its +14.3% Q2 increase, and whether any new tracked holder appears.
- 2. A first officer buy after October 2, 2026 would end a corpus in which officers have bought nothing — every buy so far is by a non-officer.
- 3. A first congressional transaction would change a lens that currently holds nothing in any congress file.
- 4. A new Schedule 13D filing, a new passive reporter above 7.53%, or Vanguard Capital Management moving above or below its 7.53% March 2026 print would change a control register that currently holds no activist-form filing.
- 5. Short-interest direction. A fall back toward the year-ago level of 12,462,912 — or a rise back through the July 31 level of 26,477,359 — would each tell a different story about a bear position that peaked in July, then fell three straight settlements.
As-of & Limits
| Lens | As of | Limit or note |
|---|---|---|
| Superinvestors (13F) | Jun 30, 2026 | 13F figures are as of June 30, 2026, the quarter-end. Funds have up to 45 days after quarter-end to file, so this is the most recent complete picture — and it is always a lagging one. Common stock only (CUSIP 09260D107); no option rows, no second class in the tracked file. All continuing labels recompute exactly under both pairing methods. Both registers reconcile exactly with residual 0; no exits, no new June holders. The cohort's −26.0% fall is almost entirely Edgewood (cut 1,052,844 shares, against a net cohort fall of 1,030,094 after Torray's +23,652 and Guinness's −902). |
| All institutions (13F) | Jun 30, 2026 | Reported value includes option rows by definition; implied price ($122.91) is not a price check. Value rose faster than shares because the June close sits above the March close. |
| Insiders (Form 4) | Oct 2, 2026 | Buys are non-officer only in every window: 3 buys (455.14 shares, $62,444.76) and 7 sells (184,500 shares, $24,446,331.63) in 90 days; 0 officer buys in the year and in the whole corpus. The scan (63 files, issuer CIK 1393818, January 14, 2025 to September 18, 2026) matches the aggregate exactly, and the site insider aggregate matches the 90-day window exactly. |
| Congress | Oct 3, 2026 | No transactions: no combined row, no House row, no Senate row, no member-file row. Reported as "no congressional transactions in the files", not as proof about trading outside these files' coverage. Congress findings are member-disclosure aggregates, not Form 4 insider transactions, and are never added to insider totals. |
| 13D/G | Apr 29, 2026 | Entirely passive register: 0 SC 13D forms, 1 SC 13G, 2 SC 13G/A. Filing percentages are as reported in each filing; denominators differ by filing date and are not recomputed. The two Vanguard reporter names are kept separate. The Vanguard Group's 0.0-share March 2026 print is quoted as reported. Reporter-row sums across dates are not economic totals. |
| Short interest | Sep 15, 2026 | Shares-outstanding count is a point-in-time count as of July 31, 2026. One early-series step (2.017×, June 15–30, 2021) is flagged as observed with no stock-split flag row attached; the only flag rows are two revision flags. |
| Prices | Oct 23, 2026 (fresh close) | Price file ends Oct 2, 2026; the Oct 23 close ($117.97) and moves derived from it are cross-source (chart_stats) and labelled as such. The price file's splits field is empty and its rows show no break. The chart_stats 52-week-high field ($165.14) is a different window from the price file's 252-day high ($168.45) and is quoted as its own field. |
| Fundamentals | FY2025 | Recorded market capitalisation uses the record's own price_close ($113.36 as of Oct 6, 2026), not the Oct 23 close, and is quoted only as the record's figure. Shares outstanding are a point-in-time count as of July 31, 2026. |
| Hype source | Oct 26, 2026 (TipRanks trending list + Q3 results) | Listing (TipRanks "Trending Stocks by Analyst" page, 2026-10-23 values) plus reported Q3 2026 results (Zacks, October 22, 2026) and reported analyst action (Goldman Sachs Hold, $125 target, October 23, 2026, via TipRanks) — all cited with links as the attention story, not as figures this article verifies. Price moves are measured from the price file and chart_stats. |
Methodology & disclaimer: 13F holdings are long common shares unless stated; reported values include option rows for the all-institutions lens by definition. Short interest is FINRA twice-monthly settlements. Trading costs and taxes are not reflected in any figure. Past patterns are not a promise of future results. For education only — not investment advice.
This article describes filings and market data for education. It is not investment advice. Data: SEC EDGAR 13F (as of June 30, 2026, filed within 45 days), Form 4 corpus checked through October 2, 2026 (63 parsed files for issuer CIK 1393818), House/Senate disclosures through October 3, 2026, SC 13D/G parsed register through April 29, 2026, FINRA short interest at September 15, 2026 settlement. 13F covers long positions of $100M+ managers only and is always a lagging picture. Trading costs and taxes are not reflected.
Related research: Four of 147: Edgewood Is 90.4% of the Tracked Vertex Stake — and Every Tracked Holder Cut in Q2 · Five of 147: Slate Path Is 65.5% of the Tracked CSX Stake — and Viking's 18,678,052 Shares Are Gone From the Q2 Register · Track the tape on BX's stock page and the 13F filing season hub.
Revision history: v1.0 — October 26, 2026. Initial publication. Signals and lens aggregates: bx_lens_data.csv. Short-interest series: bx_short_interest_series.csv.