Blackstone Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Blackstone Inc. reported 167 stock positions worth $22.8 billion. Its top holding was Cheniere Energy Partners (CQP) at 29.6% of the portfolio, followed by Corebridge Financial (CRBG, 8.6%) and Williams Cos (WMB, 5.3%). Compared with Q4 2024, it opened 47 new positions, sold out of 32, added to 33 and reduced 24. The biggest buy was a new position in Coreweave Class A (CRWV) and the biggest sale Expand Energy (EXE, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001393818
- Portfolio Value
- $22.8B (Q1 2025)
- SEC Filing
- 0000950123-25-005761 ↗ filed May 15, 2025
Holdings Value
Holdings 167 stocks · $22.8B
| CQP Cheniere Energy Partners LP | 29.63% | 102,346,331 | $6.8B | No change |
| CRBG Corebridge Financial Inc. | 8.57% | 61,962,123 | $2.0B | No change |
| WMB Williams Cos Inc. | 5.26% | 20,079,975 | $1.2B | Add +5.9% |
| FE Firstenergy Corp. | 5.11% | 28,832,099 | $1.2B | No change |
| TRGP Targa Resources Corp. | 4.27% | 4,858,040 | $973.9M | Add +3.7% |
| ET Energy Transfer LP | 4.24% | 52,032,514 | $967.3M | Reduce -3.1% |
| MPLX MPLX LP | 4.11% | 17,499,998 | $936.6M | Reduce -9.1% |
| LOAR Loar Holdings Inc. | 3.86% | 12,475,962 | $881.4M | No change |
| EXE Expand Energy Corp. | 2.79% | 5,708,333 | $635.5M | Reduce -44.7% |
| KNTK Kinetik Holdings Inc. | 2.71% | 11,918,785 | $619.1M | No change |
| EPD Enterprise Products Partners | 2.39% | 15,969,006 | $545.2M | Add +4.6% |
| ENB Enbridge Inc. | 1.87% | 9,638,105 | $427.1M | Add +68.5% |
| WES Western Midstream Partners L | 1.87% | 10,410,565 | $426.4M | Reduce -31.8% |
| LNG Cheniere Energy Inc. | 1.68% | 1,654,668 | $382.9M | Reduce -25.4% |
| PAA Plains All Amer Pipeline LP | 1.43% | 16,291,063 | $325.8M | Add +12.9% |
| KMI Kinder Morgan Inc. | 1.42% | 11,346,638 | $323.7M | Add +160.3% |
| TRP TC Energy Corp. | 1.41% | 6,829,049 | $322.4M | Reduce -10.6% |
| DTM DT Midstream Inc. | 1.37% | 3,236,258 | $312.2M | Add +98.4% |
| HESM Hess Midstream LP Class A | 1.14% | 6,170,253 | $260.9M | Add +230.1% |
| CRWV Coreweave Inc. Class A | 1.04% | 6,396,616 | $237.2M | New |
| PTEN Patterson-Uti Energy Inc. | 1.01% | 28,061,525 | $230.7M | Reduce -2.3% |
| PSFE Paysafe Ltd. | 0.78% | 11,331,364 | $177.8M | Add +3.8% |
| BXMT Blackstone Mortgage Tru Class A | 0.75% | 8,601,492 | $172.0M | No change |
| BMBL Bumble Inc. Class A | 0.57% | 30,116,110 | $130.7M | No change |
| APA Apa Corp. | 0.52% | 5,683,968 | $119.5M | Reduce -6.5% |
| AMPS Altus Power Inc. | 0.46% | 21,116,125 | $104.5M | No change |
| BXSL Blackstone Secured Lending F | 0.45% | 3,206,530 | $103.8M | No change |
| CWAN Clearwater Analytics HDS-A | 0.45% | 3,833,333 | $102.7M | New |
| SUN Sunoco LP | 0.45% | 1,754,583 | $101.9M | Add +30.0% |
| SOBO South Bow Corp. | 0.44% | 3,972,031 | $101.4M | Add +7.9% |
| VNET Vnet Group Inc.-ADR | 0.37% | 10,402,130 | $85.3M | No change |
| SHO Sunstone Hotel Investors Inc. | 0.36% | 8,645,000 | $81.3M | No change |
| NEE Nextera Energy Inc. | 0.36% | 1,146,690 | $81.3M | Reduce -65.4% |
| SRE Sempra | 0.31% | 999,737 | $71.3M | Add +938.6% |
| FOA Finance of America Cos Inc. Class A | 0.30% | 3,192,284 | $67.9M | No change |
| COF Capital One Financial Corp. | 0.29% | 370,000 | $66.3M | New |
| CCAP Crescent Capital BDC Inc. | 0.28% | 3,796,246 | $65.0M | New |
| AMZN Amazon.com Inc. | 0.26% | 310,000 | $59.0M | Add +37.8% |
| KGS Kodiak Gas Services Inc. | 0.25% | 1,553,691 | $58.0M | Add +213.6% |
| RDDT Reddit Inc. Class A | 0.23% | 500,000 | $52.5M | No change |
| KWEB Kranesh Csi China Internet | 0.23% | 1,500,000 | $52.4M | New |
| PGR Progressive Corp. | 0.23% | 185,000 | $52.4M | Reduce -13.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.23% | 150,000 | $51.8M | No change |
| KDP Keurig Dr Pepper Inc. | 0.23% | 1,500,000 | $51.3M | New |
| CRH CRH PLC | 0.22% | 580,000 | $51.0M | Reduce -1.7% |
| FLUT Flutter Entertainment PLC-Di | 0.19% | 200,000 | $44.3M | Add +42.9% |
| PAGP Plains GP Holdings LP | 0.19% | 2,065,374 | $44.1M | Reduce -3.4% |
| ALL Allstate Corp. | 0.17% | 190,000 | $39.3M | Reduce -29.6% |
| PBA Pembina Pipeline Corp. | 0.17% | 941,967 | $37.7M | Reduce -80.2% |
| MTZ Mastec Inc. | 0.16% | 315,000 | $36.8M | New |
| INTU Intuit Inc. | 0.14% | 52,000 | $31.9M | New |
| AUTL Autolus Therapeutics PLC | 0.14% | 20,485,611 | $31.8M | No change |
| TRU Transunion | 0.13% | 360,000 | $29.9M | New |
| OKE Oneok Inc. | 0.13% | 287,573 | $28.5M | Add +3.6% |
| LPLA LPL Financial Holdings Inc. | 0.10% | 70,000 | $22.9M | New |
| MIND MEDICINE MINDMED INC | 0.09% | 3,587,479 | $21.0M | No change |
| SRLN SS Blackstone Sr Loan ETF | 0.09% | 492,591 | $20.3M | No change |
| FOLD Amicus Therapeutics Inc. | 0.09% | 2,467,104 | $20.1M | No change |
| FTV Fortive Corp. | 0.09% | 270,000 | $19.8M | New |
| OTLY Oatly Group AB | 0.09% | 1,988,909 | $19.6M | No change |
| XBI SS SPDR S&P Biotech ETF | 0.08% | 236,760 | $19.2M | Add +11.8% |
| CMPX Compass Therapeutics Inc. | 0.08% | 10,025,151 | $19.0M | No change |
| ZYME Zymeworks Inc. | 0.07% | 1,382,587 | $16.5M | Add +142.7% |
| ELVN Enliven Therapeutics Inc. | 0.07% | 762,307 | $15.0M | Add +104.2% |
| CORZ Core Scientific Inc. | 0.06% | 2,000,000 | $14.5M | Add +471.4% |
| USAC USA Compression Partners LP | 0.06% | 506,319 | $13.7M | Reduce -50.7% |
| BCAX Bicara Therapeutics Inc. | 0.06% | 1,028,294 | $13.4M | Add +12.6% |
| FSCO FS Credit Opportunities Corp. | 0.05% | 1,662,945 | $11.7M | No change |
| CLDT Chatham Lodging Trust | 0.05% | 1,621,000 | $11.6M | No change |
| HUDSON PAC PPTYS INC | 0.05% | 3,797,100 | $11.2M | No change |
| BAER Bridger Aerospace Group Hold | 0.05% | 9,624,610 | $10.9M | No change |
| DKNG Draftkings Inc. Class A | 0.05% | 325,000 | $10.8M | New |
| SARO Standardaero Inc. | 0.05% | 400,000 | $10.7M | Add +11.1% |
| TLN Talen Energy Corp. | 0.04% | 46,456 | $9.3M | New |
| GEL Genesis Energy L.P. | 0.04% | 575,735 | $9.0M | No change |
| INDA iShares MSCI India ETF | 0.04% | 174,600 | $9.0M | New |
| PRMB Primo Brands Corp. | 0.04% | 250,000 | $8.9M | New |
| ARRY Array Technologies Inc. | 0.04% | 1,799,900 | $8.8M | No change |
| SPH Suburban Propane Partners LP | 0.04% | 412,061 | $8.7M | No change |
| GLP Global Partners LP | 0.04% | 152,104 | $8.1M | No change |
| ORKA Oruka Therapeutics Inc. | 0.04% | 783,653 | $8.0M | Add +226.3% |
| VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC | 0.03% | 1,500,000 | $8.0M | New |
| SYRE Spyre Therapeutics Inc. | 0.03% | 489,248 | $7.9M | Add +8.9% |
| TARA Protara Therapeutic Inc. | 0.03% | 1,744,042 | $7.4M | Add +3.8% |
| VG Venture Global Inc. Class A | 0.03% | 701,603 | $7.2M | New |
| VIK Viking Holdings Ltd. | 0.03% | 175,000 | $7.0M | Reduce -66.7% |
| APGE Apogee Therapeutics Inc. | 0.03% | 183,747 | $6.9M | Add +129.7% |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.03% | 139,188 | $5.9M | New |
| APLE Apple Hospitality REIT Inc. | 0.03% | 446,900 | $5.8M | No change |
| SAIL Sailpoint Inc. | 0.02% | 300,000 | $5.6M | New |
| WAY Waystar Holding Corp. | 0.02% | 150,000 | $5.6M | New |
| KRMN Karman Holdings Inc. | 0.02% | 165,000 | $5.5M | New |
| FSLR First Solar Inc. | 0.02% | 41,900 | $5.3M | Add +3450.8% |
| ENPH Enphase Energy Inc. | 0.02% | 82,602 | $5.1M | New |
| RZLT Rezolute Inc. | 0.02% | 1,744,740 | $5.1M | No change |
| IKT Inhibikase Therapeutics Inc. | 0.02% | 2,070,684 | $4.5M | No change |
| LB Landbridge Co. LLC-A | 0.02% | 61,000 | $4.4M | Reduce -39.0% |
| LXEO Lexeo Therapeutics Inc. | 0.02% | 1,158,617 | $4.0M | No change |
| DKL Delek Logistics Partners LP | 0.02% | 91,077 | $3.9M | Reduce -2.1% |
| MMLP Martin Midstream Partners LP | 0.02% | 986,244 | $3.6M | Reduce -3.1% |
Options reported separately and not counted above: SPY puts ($1.1B), HYG puts ($157.8M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $17.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 200,000 | $7.1M | No change |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | 77,105,000 | $6.9M | Add +71.3% |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | 36,000,000 | $3.6M | Add +928.6% |
Total filed on the 13F, all lines: $22.8B.
Portfolio Sells Q4 2024 → Q1 2025
| EXE Expand Energy Corp. | Reduce -44.7% | 2.79% | −2.09 |
| FR First Industrial Realty TR | Sold out | 0.00% | −0.95 |
| WES Western Midstream Partners L | Reduce -31.8% | 1.87% | −0.91 |
| NEE Nextera Energy Inc. | Reduce -65.4% | 0.36% | −0.77 |
| ET Energy Transfer LP | Reduce -3.1% | 4.24% | −0.76 |
| PBA Pembina Pipeline Corp. | Reduce -80.2% | 0.17% | −0.67 |
| LNG Cheniere Energy Inc. | Reduce -25.4% | 1.68% | −0.58 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −0.29 |
| TRP TC Energy Corp. | Reduce -10.6% | 1.41% | −0.27 |
| MPLX MPLX LP | Reduce -9.1% | 4.11% | −0.27 |
| PTCT PTC Therapeutics Inc. | Sold out | 0.00% | −0.23 |
| BA The Boeing Co. | Sold out | 0.00% | −0.17 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.15 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.14 |
| APA Apa Corp. | Reduce -6.5% | 0.52% | −0.14 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.14 |
| PTEN Patterson-Uti Energy Inc. | Reduce -2.3% | 1.01% | −0.11 |
| AM Antero Midstream Corp. | Reduce -90.1% | 0.01% | −0.11 |
| VIK Viking Holdings Ltd. | Reduce -66.7% | 0.03% | −0.08 |
| ALL Allstate Corp. | Reduce -29.6% | 0.17% | −0.07 |
| ULS Ul Solutions Inc. Class A | Sold out | 0.00% | −0.06 |
| LINE Lineage Inc. | Sold out | 0.00% | −0.06 |
| USAC USA Compression Partners LP | Reduce -50.7% | 0.06% | −0.05 |
| PCG P G & E Corp. | Sold out | 0.00% | −0.05 |
| CRH CRH PLC | Reduce -1.7% | 0.22% | −0.04 |
| ABVX Abivax SA-ADR | Sold out | 0.00% | −0.03 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.03 |
| OS Onestream Inc. | Reduce -60.0% | 0.01% | −0.02 |
| PGR Progressive Corp. | Reduce -13.9% | 0.23% | −0.01 |
| AROC Archrock Inc. | Sold out | 0.00% | −0.01 |
| COP Conocophillips | Sold out | 0.00% | −0.01 |
| FXI iShares China Large-Cap ETF | Reduce -50.0% | 0.01% | −0.01 |
| LB Landbridge Co. LLC-A | Reduce -39.0% | 0.02% | −0.01 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.01 |
| OVV Ovintiv Inc. | Reduce -89.9% | 0.00% | −0.01 |
| ABX Abacus Global Management Inc. | Sold out | 0.00% | −0.01 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.01 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.01 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.01 |
| PR Permian Resources Corp. Class A | Reduce -87.6% | 0.00% | −0.01 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.01 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.00 |
| SM SM Energy Co. | Sold out | 0.00% | −0.00 |
| SRRK Scholar Rock Holding Corp. | Sold out | 0.00% | −0.00 |
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −0.00 |
| ALTR Altair Engineering Inc. Class A | Sold out | 0.00% | −0.00 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −0.00 |
| HCP Hashicorp Inc. Class A | Sold out | 0.00% | −0.00 |
| IBTX Independent Bank Group Inc. | Sold out | 0.00% | −0.00 |
| BARNES GROUP INC | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| CRWV Coreweave Inc. Class A | New | 1.04% | +1.04 |
| KMI Kinder Morgan Inc. | Add +160.3% | 1.42% | +0.85 |
| HESM Hess Midstream LP Class A | Add +230.1% | 1.14% | +0.82 |
| ENB Enbridge Inc. | Add +68.5% | 1.87% | +0.72 |
| DTM DT Midstream Inc. | Add +98.4% | 1.37% | +0.60 |
| CWAN Clearwater Analytics HDS-A | New | 0.45% | +0.45 |
| WMB Williams Cos Inc. | Add +5.9% | 5.26% | +0.39 |
| TRGP Targa Resources Corp. | Add +3.7% | 4.27% | +0.30 |
| COF Capital One Financial Corp. | New | 0.29% | +0.29 |
| CCAP Crescent Capital BDC Inc. | New | 0.28% | +0.28 |
| SRE Sempra | Add +938.6% | 0.31% | +0.27 |
| PAA Plains All Amer Pipeline LP | Add +12.9% | 1.43% | +0.26 |
| KWEB Kranesh Csi China Internet | New | 0.23% | +0.23 |
| KDP Keurig Dr Pepper Inc. | New | 0.23% | +0.23 |
| MTZ Mastec Inc. | New | 0.16% | +0.16 |
| KGS Kodiak Gas Services Inc. | Add +213.6% | 0.25% | +0.16 |
| INTU Intuit Inc. | New | 0.14% | +0.14 |
| TRU Transunion | New | 0.13% | +0.13 |
| EPD Enterprise Products Partners | Add +4.6% | 2.39% | +0.12 |
| SUN Sunoco LP | Add +30.0% | 0.45% | +0.12 |
| LPLA LPL Financial Holdings Inc. | New | 0.10% | +0.10 |
| FTV Fortive Corp. | New | 0.09% | +0.09 |
| DKNG Draftkings Inc. Class A | New | 0.05% | +0.05 |
| TLN Talen Energy Corp. | New | 0.04% | +0.04 |
| CORZ Core Scientific Inc. | Add +471.4% | 0.06% | +0.04 |
| INDA iShares MSCI India ETF | New | 0.04% | +0.04 |
| PRMB Primo Brands Corp. | New | 0.04% | +0.04 |
| VISN Vistance Networks Inc. | New | 0.03% | +0.03 |
| ZYME Zymeworks Inc. | Add +142.7% | 0.07% | +0.03 |
| SOBO South Bow Corp. | Add +7.9% | 0.44% | +0.03 |
| VG Venture Global Inc. Class A | New | 0.03% | +0.03 |
| ELVN Enliven Therapeutics Inc. | Add +104.2% | 0.07% | +0.03 |
| NXT Nextpower Inc. | New | 0.03% | +0.03 |
| SAIL Sailpoint Inc. | New | 0.02% | +0.02 |
| WAY Waystar Holding Corp. | New | 0.02% | +0.02 |
| AMZN Amazon.com Inc. | Add +37.8% | 0.26% | +0.02 |
| KRMN Karman Holdings Inc. | New | 0.02% | +0.02 |
| ENPH Enphase Energy Inc. | New | 0.02% | +0.02 |
| FLUT Flutter Entertainment PLC-Di | Add +42.9% | 0.19% | +0.02 |
| FSLR First Solar Inc. | Add +3450.8% | 0.02% | +0.02 |
| ORKA Oruka Therapeutics Inc. | Add +226.3% | 0.04% | +0.01 |
| APGE Apogee Therapeutics Inc. | Add +129.7% | 0.03% | +0.01 |
| RUN Sunrun Inc. | New | 0.01% | +0.01 |
| SHLS Shoals Technologies Group -A | New | 0.01% | +0.01 |
| SEDG Solaredge Technologies Inc. | New | 0.01% | +0.01 |
| BTSG Brightspring Health Services | New | 0.01% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.00% | +0.00 |
| SARO Standardaero Inc. | Add +11.1% | 0.05% | +0.00 |
| AEROVATE THERAPEUTICS INC | Add +91.2% | 0.01% | +0.00 |
| MA Mastercard Inc. Class A | New | 0.00% | +0.00 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +116.7% | 1,950,000 | $1.1B |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 300,000 | $153.4Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 200,000 | $10.0Mbefore exit |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Sold out | 8,291,000 | $7.7Mbefore exit |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | Sold out | 8,000,000 | $7.4Mbefore exit |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Sold out | 8,000,000 | $7.1Mbefore exit |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | Add +71.3% | 77,105,000 | $6.9M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Sold out | 6,000,000 | $5.4Mbefore exit |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | Add +928.6% | 36,000,000 | $3.6M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Sold out | 2,500,000 | $2.5Mbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 512 | $30.3B | CQP, SPCX, DLR, CRBG, LGN |
| Q1 2026Amended | 414 | $24.4B | CQP, CRBG, FE, LGN, WMB |
| Q4 2025Amended | 239 | $23.0B | CQP, CRBG, FE, LGN, WMB |
| Q3 2025Amended | 244 | $23.4B | CQP, CRBG, FE, WMB, EQT |
| Q2 2025 | 162 | $22.2B | CQP, CRBG, WMB, FE, MPLX |
| Q1 2025 | 167 | $22.8B | CQP, CRBG, WMB, FE, TRGP |
| Q4 2024 | 152 | $21.1B | CQP, CRBG, FE, ET, EXE |
| Q3 2024 | 151 | $22.0B | CQP, ET, CRBG, FE, EXE |
| Q2 2024 | 162 | $22.5B | CQP, ET, CRBG, FE, EXE |
| Q1 2024 | 164 | $23.1B | CQP, ET, CRBG, GTES, EXE |