June 2023 144 Market Report
Aggregate 144 Market Volume:
In June 2023, the total reported value of Form 144s rose 32% from May. This month-over-month increase in total value is
largely due to increased activity pursuant to Rule 10b5-1. The number of Rule 10b5-1 shares registered in June increased
by over 100%, and the number of planned filings increased by 24%. Overall, there is a clear increase in planned behavior
across all metrics last month. Similarly, in comparison to June 2022, this year the number of shares and filings pursuant
to a prearranged trading plan increased by 23% and 46% respectively. This increase year-over-year may reflect a higher
disclosure rate since the SEC's recent changes in Rule 10b5-1 regulations.
Top 5 Brokers for January 2023:
In June, Goldman Sachs rose through the ranks to first place in value brokered, partially due to its role in last month's largest filing at Walmart (see table, next page). Morgan Stanley took second place by value, but again secured first place in number of filings brokered. Bank of America secured third place, due in part to their role in brokering a large filing for ABC (next page). Fidelity placed fourth, and JP Morgan rounded out June's top 5 brokers in fifth place.
Top 144 Filings for June 2023:
| Filer | Company | Broker | Value (M) | Shares (M) |
| Walton Family Holdings Trust, Ttee Jim Walton | Walmart - [WMT] | Goldman Sachs | $1,257.0 | 8.00 |
| Lawrence Joseph Ellison | Oracle Corp - [ORCL] | Morgan Stanley | $861.7 | 7.00 |
| Thoma Bravo Fund XI LP | Dynatrace - [DT] | Goldman Sachs | $485.7 | 9.23 |
About the author
Research
The Washington Service Research Team