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November 2022 144 Market Report

Aggregate 144 Market Volume for November 2022:

In November 2022, the aggregate reported value of Form 144s filed rose a dramatic 283% from October. That rise was driven in large part by a nearly 600% increase in the value of non-10b5-1 filings from the prior month. Conversely, the value of filings brokered as a part of 10b5-1 plans fell slightly from October. When compared to November 2021, brokers filed 39% more filings this year; however, the total reported value of Form 144s was 4% lower than a year ago. The value of non-10b5-1 Form 144s was 84% higher year-over-year, while the value of planned forms fell 77% from November 2021. The total number of registered shares rose 81% from the prior month, and rose 65% year-over-year.

[View the Full Market Report]


Top Brokers for November 2022:

In November, Morgan Stanley claimed the top title by brokering over a quarter of the market’s reported value, due in part to their role in Elon Musk's $3.9 billion filing at TSLA (see table, next page). UBS brokered the highest number of shares, but took second place in overall value. Goldman Sachs finished in third, partially due to brokering two of the month's largest filings for WMT and LKQ. Barclays Bank took fourth place, making its first appearance in the top five this year by brokering a large filing at BABA. Bank of America rounded out the rankings in November.


Top 144 Filings for November 2022:

Filer Company Broker Value (M) Shares (M)
Usagi I II & III 2022 Holdings Ltd Alibaba Group Holding - [BABA] UBS AG $4,450.6 70.0
Elon Musk Revocable Trust Tesla - [TSLA] Morgan Stanley $3,949.1 19.5
Carina I 2022 Holdings Ltd Alibaba Group Holding - [BABA] Barclays Bank Plc $1,176.0 16.5


The Washington Service completed the integration of all pandemic-delayed paper filings in November 2022. For more information, see our updated FAQ blog post.


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The Washington Service Research Team

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