In March 2023, the total reported value of Form 144s surged 89% from February. This month-over-month increase in total value can be attributed to the 131% increase in the value of reported unplanned trades; however it is worth noting that a large portion of the increase was due to $7.3 billion of delayed 144s from BABA. Excluding the BABA filings, the increase in discretionary value would have been a less dramatic 16%. This increase was largely due to the number of non-10b5-1 filings increasing by nearly 30%. Alternatively, when last month's numbers are compared to March 2022, Form 144 value, shares, and number of filings increased across the board. The reported value more than doubled from last year, with registered shares* increasing by nearly 60% and number of filings by 88%.
In March, Goldman Sachs brokered an impressive third of the 144 market, claiming the top title due to their role in a Softbank BABA filing. Barclays Bank secured second place in value, also due to their role in filing two large BABA filings on behalf of another SoftBank holding company (see BABA filings, next page). Morgan Stanley was pushed into third place in value and second in number of filings brokered. JP Morgan placed fourth in value brokered, boosted by a $480M Form 144 at HWM. Bank of America rounded out the Top 5 rankings for March.
|Filer||Company||Broker||Value (M)||Shares (M)|
|Forseti I II & III 2023 Holdings Ltd||Alibaba Group Holding - [BABA]||Barclays Bank Plc||$4,597.5||46.00|
|Kirin I 2022 Holdings Ltd||Alibaba Group Holding - [BABA]||Goldman Sachs||$2,742.3||30.00|
|Walton Family Holdings Trust, Jim C. Walton Ttee||Walmart - [WMT]||Goldman Sachs||$1,863.6||13.20|