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August 2023 144 Market Report

Aggregate 144 Market Volume:

In August 2023, the total reported value of Form 144s increased 31% from July, driven by a 56% increase in discretionary disclosures. This month-over-month rise in total value was accompanied by a 174% increase in the number of filings disclosing discretionary sales, greatly outpacing the 10% increase in number of filings pursuant to Rule 10b5-1. Compared to August 2022, the number of Form 144s filed increased by 13%, but the total value reported decreased by 62%. This year-over-year decrease in value includes a 66% fall in discretionary selling value, as well as a 43% decline in planned selling value.

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Top 5 Brokers for August 2023

In August, Morgan Stanley rose to the top of the broker rankings, in part due to their role in brokering one of last month's largest filings. JP Morgan slid to second place for total value brokered, but secured first place for number of shares. Fidelity took third place in value, but again placed first in number of filings. Bank of America placed fourth in value brokered, and UBS Financial rounded out August's top 5 brokers in fifth place.

Top 144 Filings for August 2023

Filer Company Broker Value(M) Shares(M)
Elliot Investment Management LP Howmet Aerospace - [HWM] JP Morgan Chase $445.4 9.18
Mastercard Foundation Mastercard - [MA] BMO Financial $399.5 1.01
ValueAct Capital Master Fund LP CBRE Group - [CBRE] Goldman Sachs $384.8 4.60

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