BLACKROCK FINANCIAL MANAGEMENT INC/DE 4
4 · BlackRock Alpha Strategies Fund · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
BlackRock Alpha Strategies Fund — BlackRock Financial Management Sells Shares
What Happened
BlackRock Financial Management Inc. (an affiliate of the fund's investment adviser) sold shares of BlackRock Alpha Strategies Fund via issuer tender offers. On June 30, 2025 it tendered 571,653.364 Class A shares at $10.89 ($6,225,305) and 872,774.438 Class I shares at $11.03 ($9,626,702). On December 31, 2025 it tendered the same counts again at NAVs of $10.53 (571,653.364 Class A, $6,019,510) and $10.64 (872,774.437 Class I, $9,286,320). Total proceeds across these reported dispositions were $31,157,837. These were sales (S) — institutional disposals via the fund’s tender offers, not purchases.
Key Details
- Transaction dates & amounts:
- 2025-06-30: 571,653.364 Class A @ $10.89 = $6,225,305 (F1/F2)
- 2025-06-30: 872,774.438 Class I @ $11.03 = $9,626,702 (F4/F5)
- 2025-12-31: 571,653.364 Class A @ $10.53 = $6,019,510 (F7)
- 2025-12-31: 872,774.437 Class I @ $10.64 = $9,286,320 (F8)
- Total proceeds: $31,157,837 across the listed transactions.
- Method: Dispositions were tendered to the issuer in connection with issuer tender offers; purchase prices were determined by the fund’s NAV on the respective dates (see footnotes F2, F5, F7, F8).
- Post-transaction holdings: The filing notes beneficial ownership includes shares acquired via the fund’s dividend reinvestment plan since the filer’s prior Form 4 (Mar 25, 2021) (F3, F6). The exact post-transaction share totals are not provided in the summary data here.
- Filing timeliness: Form 4 was filed Feb 26, 2026, covering transactions dated June 30 and Dec 31, 2025. The June 30 transaction appears to have been reported well after the trade date; retailers should note the filing delay.
Context
- These are institutional sales by an affiliate of the fund’s investment adviser through issuer buybacks/tender offers (not insider executive stock sales). Tender offers repurchase shares at NAV and are a liquidity mechanism for shareholders rather than open-market trading.
- Sales (S) are generally less informative than insider purchases about confidence in the company; institutional tendering can reflect portfolio rebalancing or liquidity decisions rather than a signal about the fund’s outlook.
- No option exercises, gifts, or awards are involved — just tendered sales at NAV per the specified tender offers.
Insider Transaction Report
Form 4
Transactions
- Sale
Class A Shares
[F1][F2][F3]2025-06-30$10.89/sh−571,653.364$6,225,305→ 571,653.364 total - Sale
Class I Shares
[F4][F5][F6]2025-06-30$11.03/sh−872,774.438$9,626,702→ 872,774.437 total - Sale
Class A Shares
[F1][F7]2025-12-31$10.53/sh−571,653.364$6,019,510→ 0 total - Sale
Class I Shares
[F4][F8]2025-12-31$10.64/sh−872,774.437$9,286,320→ 0 total
Footnotes (8)
- [F1]Reflects common shares of beneficial interest of BlackRock Alpha Strategies Fund, a registered, closed-end management investment company (the "Issuer"), designated as Class A Shares.
- [F2]The disposition of securities by the Reporting Person was made by tender to the Issuer, in connection with the issuer tender offer by the Issuer pursuant to the Tender Offer Statement on Schedule TO ("Schedule TO") filed with the Securities and Exchange Commission (the "Commission") on March 24, 2025. The purchase price for each Class A Share purchased by the Issuer in connection with the issuer tender offer was determined as of June 30, 2025, based on the net asset value of such Class A Shares as of such date.
- [F3]The amount of Class A Shares of the Issuer beneficially owned by the Reporting Person following this reported transaction includes Class A Shares acquired by the Reporting Person pursuant to the Issuer's automatic dividend reinvestment plan since the Form 4 filing made by the Reporting Person on March 25, 2021.
- [F4]Reflects common shares of beneficial interest of the Issuer designated as Class I Shares.
- [F5]The disposition of securities by the Reporting Person was made by tender to the Issuer, in connection with the issuer tender offer by the Issuer pursuant to the Schedule TO filed with the Commission on March 24, 2025. The purchase price for each Class I Share purchased by the Issuer in connection with the issuer tender offer was determined as of June 30, 2025, based on the net asset value of such Class I Shares as of such date.
- [F6]The amount of Class I Shares of the Issuer beneficially owned by the Reporting Person following this reported transaction includes Class I Shares acquired by the Reporting Person pursuant to the Issuer's automatic dividend reinvestment plan since the Form 4 filing made by the Reporting Person on March 25, 2021.
- [F7]The disposition of securities by the Reporting Person was made by tender to the Issuer, in connection with the issuer tender offer by the Issuer pursuant to the Schedule TO filed with the Commission on September 24, 2025. The purchase price for each Class A Share purchased by the Issuer in connection with the issuer tender offer was determined as of December 31, 2025, based on the net asset value of such Class A Shares as of such date.
- [F8]The disposition of securities by the Reporting Person was made by tender to the Issuer, in connection with the issuer tender offer by the Issuer pursuant to the Schedule TO filed with the Commission on September 24, 2025. The purchase price for each Class I Share purchased by the Issuer in connection with the issuer tender offer was determined as of December 31, 2025, based on the net asset value of such Class I Shares as of such date.
Signature
/s/ Gladys Chang as Attorney-in-Fact|2026-02-26