JPMorgan trust restructures 7,178 MHD preferreds
BLACKROCK MUNIHOLDINGS FUND, INC. saw an internal restructuring of 7,178 Series W-7 Variable Rate Muni Term Preferred Shares.
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Form Type
4
Rhea-AI Filing Summary
BLACKROCK MUNIHOLDINGS FUND, INC. saw an internal restructuring of 7,178 Series W-7 Variable Rate Muni Term Preferred Shares. DNT Asset Trust moved these VMTP shares into a new JPM PD Series 5114 trust structure and now holds them indirectly as a beneficiary with contractual rights.
The transaction is coded as an "other" restructuring with no stated share price, indicating no open-market buy or sell. JPMorgan Chase & Co. reports only an indirect interest in these securities through its ownership of DNT Asset Trust, and both reporting persons expressly disclaim being part of any group under Section 13(d).
Insider Trade Summary
Other: 14,356 shares
Other
2 txns
Insider
JPMORGAN CHASE & CO, DNT Asset Trust
Role
10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series W-7 Variable Rate Muni Term Preferred Shares | 7,178 | $0.00 | $0.00 |
| Other | Series W-7 Variable Rate Muni Term Preferred Shares | 7,178 | $0.00 | $0.00 |
Holdings After Transaction:
Series W-7 Variable Rate Muni Term Preferred Shares — 0 shares (Indirect, By Subsidiary);
Series W-7 Variable Rate Muni Term Preferred Shares — 7,178 shares (Indirect, By Trust)
Footnotes (3)
- F1. The 7,178 Series W-7 Variable Rate Muni Term Preferred Shares (the "VMTP Shares") shown in Table I represent VMTP Shares of the Issuer that, prior to the transaction date specified above were beneficially owned directly by DNT Asset Trust ("DNT Trust"). On the transaction date specified above, DNT Trust deposited the VMTP Shares into a trust designated as the JPM PD Series 5114 Trust (the "TOB Trust"). DNT Trust, as a beneficiary of the TOB Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares.
- F2. This statement is jointly filed by JPMorgan Chase & Co. and DNT Trust. JPMorgan Chase & Co. holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary DNT Trust.
- F3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
Key Figures
Restructured VMTP shares: 7,178 shares
Restructuring share total: 14,356 shares
Reported price per share: $0.0000 per share
+1 more
4 metrics
Restructured VMTP shares
7,178 shares
Series W-7 Variable Rate Muni Term Preferred Shares moved into new trust
Restructuring share total
14,356 shares
Total shares involved across two J-code restructuring entries
Reported price per share
$0.0000 per share
Internal restructuring transaction code J
Shares held by trust post-transfer
7,178 shares
Total shares following transaction for DNT Asset Trust entry
Key Terms
Series W-7 Variable Rate Muni Term Preferred Shares, VMTP Shares, beneficial ownership, Section 13(d), +1 more
5 terms
beneficial ownership financial
"DNT Trust, as a beneficiary of the TOB Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 13(d) regulatory
"neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d)..."
A Section 13(d) filing is a public disclosure required under U.S. securities law when a person or group acquires more than 5% of a company’s registered equity and may influence control. The filer must report who owns the shares, how they were acquired, and any plans or intentions for the company, so the market and other shareholders can see if a large buyer is attempting a takeover or other strategic move. Think of it like a formal announcement that someone has crossed a threshold and is showing their hand.
trust financial
"deposited the VMTP Shares into a trust designated as the JPM PD Series 5114 Trust (the "TOB Trust")."
A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did the Form 4 for BLACKROCK MUNIHOLDINGS FUND (MHD) disclose?
The Form 4 shows an internal restructuring of 7,178 Series W-7 Variable Rate Muni Term Preferred Shares. DNT Asset Trust moved these VMTP shares into a new trust but retained indirect beneficial ownership through its beneficiary and contractual rights.
Who is the main reporting owner in the MHD Form 4 filing?
The filing lists DNT Asset Trust and JPMorgan Chase & Co. as reporting persons. DNT Asset Trust directly handled the VMTP share transfer, while JPMorgan’s interest is indirect through its ownership of DNT Asset Trust.
Did the MHD Form 4 show any open-market buying or selling?
No open-market buying or selling is shown. The transactions are coded "J" as other acquisition or disposition at a reported price of $0.0000 per share, indicating an internal restructuring rather than a market trade.
What is the role of the JPM PD Series 5114 Trust in this MHD filing?
The JPM PD Series 5114 Trust is the new trust receiving the 7,178 VMTP shares. DNT Asset Trust deposited the shares into this TOB trust and retains indirect beneficial ownership as a beneficiary with specific contractual rights over the VMTP shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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