Blackstone Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Blackstone Inc. reported 162 stock positions worth $22.2 billion. Its top holding was Cheniere Energy Partners (CQP) at 25.8% of the portfolio, followed by Corebridge Financial (CRBG, 9.9%) and Williams Cos (WMB, 5.5%). Compared with Q1 2025, it opened 34 new positions, sold out of 40, added to 41 and reduced 25. The biggest buy was a new position in TXNM Energy (TXNM) and the biggest sale Expand Energy (EXE, shares −100%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001393818
Portfolio Value
$22.2B (Q2 2025)
SEC Filing
0000950123-25-008390 ↗ filed Aug 14, 2025

Holdings Value

0$10.0B$20.0B$30.0B$40.0B Q1 2024: $23.1B Q1 2024 Q2 2024: $22.5B Q2 2024 Q3 2024: $22.0B Q3 2024 Q4 2024: $21.1B Q4 2024 Q1 2025: $22.8B Q1 2025 Q2 2025: $22.2B $22.2B Q2 2025 Q3 2025: $23.4B Q3 2025 Q4 2025: $23.0B Q4 2025 Q1 2026: $24.4B Q1 2026 Q2 2026: $30.3B Q2 2026

Holdings 162 stocks · $22.2B
CQP Cheniere Energy Partners LP 25.81% 102,346,331 $5.7B No change
CRBG Corebridge Financial Inc. 9.90% 61,962,123 $2.2B No change
WMB Williams Cos Inc. 5.45% 19,290,286 $1.2B Reduce -3.9%
FE Firstenergy Corp. 5.22% 28,832,099 $1.2B No change
MPLX MPLX LP 3.93% 16,943,438 $872.8M Reduce -3.2%
ET Energy Transfer LP 3.81% 46,657,026 $845.9M Reduce -10.3%
LOAR Loar Holdings Inc. 2.98% 7,683,405 $662.1M Reduce -38.4%
ENB Enbridge Inc. 2.92% 14,299,450 $648.1M Add +48.4%
CRWV Coreweave Inc. Class A 2.86% 3,896,616 $635.4M Reduce -39.1%
TRGP Targa Resources Corp. 2.84% 3,626,489 $631.3M Reduce -25.4%
KMI Kinder Morgan Inc. 2.84% 21,441,358 $630.4M Add +89.0%
EPD Enterprise Products Partners 2.79% 19,997,776 $620.1M Add +25.2%
LNG Cheniere Energy Inc. 2.59% 2,366,120 $576.2M Add +43.0%
KNTK Kinetik Holdings Inc. 2.36% 11,914,272 $524.8M Reduce -0.0%
TXNM TXNM Energy Inc. 2.03% 8,000,000 $450.6M New
DTM DT Midstream Inc. 1.78% 3,598,913 $395.6M Add +11.2%
WES Western Midstream Partners L 1.60% 9,169,479 $354.9M Reduce -11.9%
PAA Plains All Amer Pipeline LP 1.32% 15,986,460 $292.9M Reduce -1.9%
TLN Talen Energy Corp. 1.19% 910,941 $264.9M Add +1860.9%
BMBL Bumble Inc. Class A 0.89% 30,116,110 $198.5M No change
HESM Hess Midstream LP Class A 0.87% 5,015,644 $193.2M Reduce -18.7%
TASK Taskus Inc. Class A 0.76% 10,094,674 $169.2M New
PTEN Patterson-Uti Energy Inc. 0.75% 28,061,525 $166.4M No change
BXMT Blackstone Mortgage Tru Class A 0.74% 8,601,492 $165.6M No change
TRP TC Energy Corp. 0.71% 3,235,619 $157.9M Reduce -52.6%
PSFE Paysafe Ltd. 0.64% 11,331,366 $143.0M Add +0.0%
SOBO South Bow Corp. 0.46% 3,909,570 $101.3M Reduce -1.6%
BXSL Blackstone Secured Lending F 0.44% 3,206,530 $98.6M No change
SUN Sunoco LP 0.43% 1,796,281 $96.3M Add +2.4%
CWAN Clearwater Analytics HDS-A 0.40% 4,067,360 $89.2M Add +6.1%
APA Apa Corp. 0.37% 4,483,968 $82.0M Reduce -21.1%
CRH CRH PLC 0.35% 845,000 $77.6M Add +45.7%
SHO Sunstone Hotel Investors Inc. 0.34% 8,645,000 $75.0M No change
SRE Sempra 0.34% 984,926 $74.6M Reduce -1.5%
FOA Finance of America Cos Inc. Class A 0.33% 3,192,284 $74.4M No change
VNET Vnet Group Inc.-ADR 0.32% 10,402,130 $71.8M No change
COF Capital One Financial Corp. 0.31% 325,000 $69.1M Reduce -12.2%
MTZ Mastec Inc. 0.27% 350,000 $59.7M Add +11.1%
FLUT Flutter Entertainment PLC-Di 0.27% 207,500 $59.3M Add +3.8%
CCAP Crescent Capital BDC Inc. 0.27% 4,205,307 $59.3M Add +10.8%
FTV Fortive Corp. 0.26% 1,115,000 $58.1M Add +313.0%
AMZN Amazon.com Inc. 0.23% 228,588 $50.1M Reduce -26.3%
AUTL Autolus Therapeutics PLC 0.21% 20,485,611 $46.7M No change
AM Antero Midstream Corp. 0.20% 2,396,094 $45.4M Add +1294.3%
GOOGL Alphabet Inc. Class A 0.20% 250,130 $44.1M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.20% 920,000 $43.5M New
BA The Boeing Co. 0.19% 200,000 $41.9M New
PAGP Plains GP Holdings LP 0.18% 2,065,501 $40.1M Add +0.0%
BRO Brown & Brown Inc. 0.17% 350,000 $38.8M New
RDDT Reddit Inc. Class A 0.17% 250,000 $37.6M Reduce -50.0%
PBA Pembina Pipeline Corp. 0.16% 961,096 $36.1M Add +2.0%
RNR Renaissancere Holdings Ltd. 0.14% 128,500 $31.2M New
ACHR Archer Aviation Inc. Class A 0.13% 2,750,000 $29.8M New
CORZ Core Scientific Inc. 0.13% 1,717,000 $29.3M Reduce -14.2%
OKE Oneok Inc. 0.12% 337,673 $27.6M Add +17.4%
ELVN Enliven Therapeutics Inc. 0.12% 1,320,592 $26.5M Add +73.2%
CMPX Compass Therapeutics Inc. 0.12% 10,025,151 $26.1M No change
GDX Vaneck Gold Miners ETF 0.12% 500,000 $26.0M New
OTLY Oatly Group AB 0.11% 1,988,909 $23.6M No change
MIND MEDICINE MINDMED INC 0.10% 3,587,479 $23.3M No change
DKNG Draftkings Inc. Class A 0.10% 525,000 $22.5M Add +61.5%
PLD Prologis Inc. 0.10% 210,617 $22.1M New
ZYME Zymeworks Inc. 0.09% 1,656,790 $20.8M Add +19.8%
SRLN SS Blackstone Sr Loan ETF 0.09% 492,591 $20.5M No change
BAER Bridger Aerospace Group Hold 0.08% 9,624,610 $18.6M No change
IWM iShares Russell 2000 ETF 0.08% 85,889 $18.5M Add +4011.5%
TTAN Servicetitan Inc. Class A 0.08% 170,000 $18.2M Add +1033.3%
SITM Sitime Corp. 0.08% 80,000 $17.0M New
TTWO Take-Two Interactive Softwre 0.08% 70,000 $17.0M New
USAC USA Compression Partners LP 0.07% 654,419 $15.9M Add +29.3%
RZLT Rezolute Inc. 0.07% 3,560,289 $15.9M Add +104.1%
AXSM Axsome Therapeutics Inc. 0.07% 140,000 $14.6M New
INDA iShares MSCI India ETF 0.06% 255,895 $14.2M Add +46.6%
FOLD Amicus Therapeutics Inc. 0.06% 2,467,104 $14.1M No change
SARO Standardaero Inc. 0.06% 400,000 $12.7M No change
FSCO FS Credit Opportunities Corp. 0.05% 1,662,945 $12.1M No change
BCAX Bicara Therapeutics Inc. 0.05% 1,224,336 $11.4M Add +19.1%
CLDT Chatham Lodging Trust 0.05% 1,621,000 $11.3M No change
ARRY Array Technologies Inc. 0.05% 1,799,900 $10.6M No change
UNH Unitedhealth Group Inc. 0.05% 33,755 $10.5M New
HUDSON PAC PPTYS INC 0.05% 3,797,100 $10.4M No change
GEL Genesis Energy L.P. 0.04% 575,735 $9.9M No change
ORKA Oruka Therapeutics Inc. 0.04% 826,724 $9.3M Add +5.5%
GLP Global Partners LP 0.04% 162,104 $8.5M Add +6.6%
LB Landbridge Co. LLC-A 0.04% 125,000 $8.4M Add +104.9%
KRMN Karman Holdings Inc. 0.04% 165,000 $8.3M No change
KTOS Kratos Defense & Security 0.04% 175,000 $8.1M New
APGE Apogee Therapeutics Inc. 0.03% 178,546 $7.8M Reduce -2.8%
SPH Suburban Propane Partners LP 0.03% 414,171 $7.7M Add +0.5%
PRMB Primo Brands Corp. 0.03% 250,000 $7.4M No change
SYRE Spyre Therapeutics Inc. 0.03% 489,248 $7.3M No change
KGS Kodiak Gas Services Inc. 0.03% 213,103 $7.3M Reduce -86.3%
TARA Protara Therapeutic Inc. 0.03% 1,909,662 $5.8M Add +9.5%
DKL Delek Logistics Partners LP 0.03% 129,929 $5.6M Add +42.7%
APLE Apple Hospitality REIT Inc. 0.02% 446,900 $5.2M No change
IKT Inhibikase Therapeutics Inc. 0.02% 2,638,276 $5.1M Add +27.4%
NVDA Nvidia Corp. 0.02% 30,770 $4.9M New
LXEO Lexeo Therapeutics Inc. 0.02% 1,124,922 $4.5M Reduce -2.9%
CYRX Cryoport Inc. 0.02% 453,396 $3.4M No change
MMLP Martin Midstream Partners LP 0.01% 985,952 $2.9M Reduce -0.0%
VOYG Voyager Technologies Inc. Class A 0.01% 70,000 $2.7M New
CAI Caris Life Sciences Inc. 0.01% 100,000 $2.7M New
CAPL Crossamerica Partners LP 0.01% 123,610 $2.6M Add +10.6%
MMYT Makemytrip Ltd. 0.01% 25,000 $2.5M New
CHYM Chime Financial Inc. Class A 0.01% 70,000 $2.4M New
SGU Star Group LP 0.01% 163,090 $1.9M Add +6.5%
SLDE Slide Insurance Holdings Inc. 0.01% 75,000 $1.6M New
CNTX Context Therapeutics Inc. 0.01% 2,440,330 $1.6M No change
META Meta Platforms Inc. Class A 0.01% 1,922 $1.4M New
MSFT Microsoft Corp. 0.01% 2,600 $1.3M New
NKTX Nkarta Inc. 0.01% 747,044 $1.2M No change
CBIO Crescent Biopharma Inc. 0.01% 75,614 $1.2M New
SPY SS SPDR S&P 500 ETF Trust-US 0.01% 1,947 $1.2M No change
BTBT Bit Digital Inc. 0.00% 500,000 $1.1M New
NFLX Netflix Inc. 0.00% 800 $1.1M No change
PM Philip Morris International 0.00% 5,655 $1.0M No change
COOP Mr Cooper Group Inc. 0.00% 6,632 $990K New
MA Mastercard Inc. Class A 0.00% 1,686 $947K No change
AZEK The Azek Co. Inc. 0.00% 16,498 $897K No change
JNPR Juniper Networks Inc. 0.00% 22,033 $880K No change
ANSS Ansys Inc. 0.00% 2,393 $840K No change
DNB Dun & Bradstreet Holdings Inc. 0.00% 89,640 $815K No change
WBA Walgreens Boots Alliance Inc. 0.00% 70,190 $806K No change
SWTX Springworks Therapeutics Inc. 0.00% 16,835 $791K New
SKX Skechers USA Inc. Class A 0.00% 12,302 $776K New
ALE Allete Inc. 0.00% 11,353 $727K No change
INFA Informatica Inc. Class A 0.00% 29,818 $726K New
FYBR Frontier Communications Pare 0.00% 19,872 $723K No change
LBRDK Liberty Broadband-C 0.00% 7,204 $709K No change
AVTR Avantor Inc. 0.00% 52,330 $704K New
K Kellanova 0.00% 8,440 $671K No change
ESGR Enstar Group Ltd. 0.00% 1,992 $670K No change
JPM JPMorgan Chase & Co. 0.00% 2,289 $664K No change
BRK.B Berkshire Hathaway Inc. Class B 0.00% 1,307 $635K No change
GOOG Alphabet Inc. Class C 0.00% 3,542 $628K No change
HES Hess Corp. 0.00% 4,524 $627K No change
TGI Triumph Group Inc. 0.00% 24,028 $619K No change
OMDA Omada Health Inc. 0.00% 30,000 $549K New
CRDF Cardiff Oncology Inc. 0.00% 158,330 $499K Add +255.8%
NEXT Nextdecade Corp. 0.00% 55,811 $497K Add +10.9%
UBER Uber Technologies Inc. 0.00% 5,274 $492K No change
MLM Martin Marietta Materials 0.00% 884 $485K No change
AVDX Avidxchange Holdings Inc. 0.00% 48,571 $476K New
CHX Championx Corp. 0.00% 18,275 $454K No change
RDFN Redfin Corp. 0.00% 37,098 $415K No change
BKV BKV Corporation 0.00% 15,450 $373K Add +24.6%
MRNA Moderna Inc. 0.00% 12,613 $348K No change
PRA Proassurance Corp. 0.00% 14,612 $334K No change
EXE Expand Energy Corp. 0.00% 2,762 $323K Reduce -100.0%
NEUE Neuehealth Inc. 0.00% 45,916 $317K No change
ARIS WATER SOLUTIONS INC-A 0.00% 12,286 $291K Add +11.8%
EQT Eqt Corp. 0.00% 4,466 $260K New
OVV Ovintiv Inc. 0.00% 6,228 $237K Add +21.4%
DASH DoorDash Inc. Class A 0.00% 861 $212K New
XBI SS SPDR S&P Biotech ETF 0.00% 2,548 $211K Reduce -98.9%
TXG 10X Genomics Inc. Class A 0.00% 16,485 $191K No change
PR Permian Resources Corp. Class A 0.00% 12,664 $172K No change
RAL Ralliant Corp. 0.00% 3,333 $162K Reduce -96.3%
RLAY Relay Therapeutics Inc. 0.00% 35,618 $123K No change
RPTX Repare Therapeutics Inc. 0.00% 25,957 $36K No change
ALEC Alector Inc. 0.00% 25,715 $36K No change
PLRX Pliant Therapeutics Inc. 0.00% 22,206 $26K No change

Options reported separately and not counted above: SPY puts ($803.2M), HYG puts ($322.6M), CRWV puts ($40.8M), BULL puts ($12.0M), VG calls ($6.2M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $6.4M (not counted above)
SecurityClassShares / PrincipalValueChange
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 200,000$6.4MNo change

Total filed on the 13F, all lines: $22.2B.

Portfolio Sells Q1 2025 → Q2 2025
EXE Expand Energy Corp. Reduce -100.0% 0.00% −2.78
TRGP Targa Resources Corp. Reduce -25.4% 2.84% −1.43
LOAR Loar Holdings Inc. Reduce -38.4% 2.98% −0.89
TRP TC Energy Corp. Reduce -52.6% 0.71% −0.70
AMPS Altus Power Inc. Sold out 0.00% −0.46
ET Energy Transfer LP Reduce -10.3% 3.81% −0.43
NEE Nextera Energy Inc. Sold out 0.00% −0.36
KNTK Kinetik Holdings Inc. Reduce -0.0% 2.36% −0.35
HESM Hess Midstream LP Class A Reduce -18.7% 0.87% −0.27
WES Western Midstream Partners L Reduce -11.9% 1.60% −0.27
KWEB Kranesh Csi China Internet Sold out 0.00% −0.23
PGR Progressive Corp. Sold out 0.00% −0.23
AJG Arthur J Gallagher & Co. Sold out 0.00% −0.23
KDP Keurig Dr Pepper Inc. Sold out 0.00% −0.23
KGS Kodiak Gas Services Inc. Reduce -86.3% 0.03% −0.22
MPLX MPLX LP Reduce -3.2% 3.93% −0.18
ALL Allstate Corp. Sold out 0.00% −0.17
APA Apa Corp. Reduce -21.1% 0.37% −0.15
INTU Intuit Inc. Sold out 0.00% −0.14
TRU Transunion Sold out 0.00% −0.13
PAA Plains All Amer Pipeline LP Reduce -1.9% 1.32% −0.11
LPLA LPL Financial Holdings Inc. Sold out 0.00% −0.10
XBI SS SPDR S&P Biotech ETF Reduce -98.9% 0.00% −0.08
RDDT Reddit Inc. Class A Reduce -50.0% 0.17% −0.06
VISN Vistance Networks Inc. Sold out 0.00% −0.03
AMZN Amazon.com Inc. Reduce -26.3% 0.23% −0.03
VG Venture Global Inc. Class A Sold out 0.00% −0.03
VIK Viking Holdings Ltd. Sold out 0.00% −0.03
NXT Nextpower Inc. Sold out 0.00% −0.03
SAIL Sailpoint Inc. Sold out 0.00% −0.02
WAY Waystar Holding Corp. Sold out 0.00% −0.02
FSLR First Solar Inc. Sold out 0.00% −0.02
ENPH Enphase Energy Inc. Sold out 0.00% −0.02
RAL Ralliant Corp. Reduce -96.3% 0.00% −0.02
FXI iShares China Large-Cap ETF Sold out 0.00% −0.01
RUN Sunrun Inc. Sold out 0.00% −0.01
AEROVATE THERAPEUTICS INC Sold out 0.00% −0.01
OS Onestream Inc. Sold out 0.00% −0.01
SHLS Shoals Technologies Group -A Sold out 0.00% −0.01
NOVAQ Sunnova Energy International Sold out 0.00% −0.01
SEDG Solaredge Technologies Inc. Sold out 0.00% −0.01
BTSG Brightspring Health Services Sold out 0.00% −0.01
ACET Adicet Bio Inc. Sold out 0.00% −0.00
BECN Beacon Roofing Supply Inc. Sold out 0.00% −0.00
ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −0.00
X United States Steel Corp. Sold out 0.00% −0.00
AMPX Amprius Technologies Inc. Sold out 0.00% −0.00
IONQ Ionq Inc. Sold out 0.00% −0.00
PTVE Pactiv Evergreen Inc. Sold out 0.00% −0.00
MMLP Martin Midstream Partners LP Reduce -0.0% 0.01% −0.00

Portfolio Buys Q1 2025 → Q2 2025
TXNM TXNM Energy Inc. New 2.03% +2.03
KMI Kinder Morgan Inc. Add +89.0% 2.84% +1.42
TLN Talen Energy Corp. Add +1860.9% 1.19% +1.15
ENB Enbridge Inc. Add +48.4% 2.92% +1.04
LNG Cheniere Energy Inc. Add +43.0% 2.59% +0.91
TASK Taskus Inc. Class A New 0.76% +0.76
DTM DT Midstream Inc. Add +11.2% 1.78% +0.41
EPD Enterprise Products Partners Add +25.2% 2.79% +0.40
GOOGL Alphabet Inc. Class A New 0.20% +0.20
BAC Bank of America Corp. New 0.20% +0.20
AM Antero Midstream Corp. Add +1294.3% 0.20% +0.19
BA The Boeing Co. New 0.19% +0.19
FTV Fortive Corp. Add +313.0% 0.26% +0.17
BRO Brown & Brown Inc. New 0.17% +0.17
RNR Renaissancere Holdings Ltd. New 0.14% +0.14
ACHR Archer Aviation Inc. Class A New 0.13% +0.13
CRH CRH PLC Add +45.7% 0.35% +0.13
GDX Vaneck Gold Miners ETF New 0.12% +0.12
MTZ Mastec Inc. Add +11.1% 0.27% +0.11
PLD Prologis Inc. New 0.10% +0.10
IWM iShares Russell 2000 ETF Add +4011.5% 0.08% +0.08
SITM Sitime Corp. New 0.08% +0.08
TTWO Take-Two Interactive Softwre New 0.08% +0.08
TTAN Servicetitan Inc. Class A Add +1033.3% 0.08% +0.08
FLUT Flutter Entertainment PLC-Di Add +3.8% 0.27% +0.07
AXSM Axsome Therapeutics Inc. New 0.07% +0.07
DKNG Draftkings Inc. Class A Add +61.5% 0.10% +0.05
ELVN Enliven Therapeutics Inc. Add +73.2% 0.12% +0.05
RZLT Rezolute Inc. Add +104.1% 0.07% +0.05
UNH Unitedhealth Group Inc. New 0.05% +0.05
KTOS Kratos Defense & Security New 0.04% +0.04
INDA iShares MSCI India ETF Add +46.6% 0.06% +0.02
NVDA Nvidia Corp. New 0.02% +0.02
ZYME Zymeworks Inc. Add +19.8% 0.09% +0.02
LB Landbridge Co. LLC-A Add +104.9% 0.04% +0.02
VOYG Voyager Technologies Inc. Class A New 0.01% +0.01
CAI Caris Life Sciences Inc. New 0.01% +0.01
USAC USA Compression Partners LP Add +29.3% 0.07% +0.01
MMYT Makemytrip Ltd. New 0.01% +0.01
CHYM Chime Financial Inc. Class A New 0.01% +0.01
DKL Delek Logistics Partners LP Add +42.7% 0.03% +0.01
SLDE Slide Insurance Holdings Inc. New 0.01% +0.01
META Meta Platforms Inc. Class A New 0.01% +0.01
ORKA Oruka Therapeutics Inc. Add +5.5% 0.04% +0.01
MSFT Microsoft Corp. New 0.01% +0.01
CBIO Crescent Biopharma Inc. New 0.01% +0.01
BTBT Bit Digital Inc. New 0.00% +0.00
COOP Mr Cooper Group Inc. New 0.00% +0.00
SWTX Springworks Therapeutics Inc. New 0.00% +0.00
SKX Skechers USA Inc. Class A New 0.00% +0.00

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -33.3% 1,300,000 $803.2M
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +100.0% 4,000,000 $322.6M
CRWV Coreweave Inc. Class A put New 250,000 $40.8M
BULL Webull Corp. put New 1,000,000 $12.0M
VG Venture Global Inc. Class A call New 400,000 $6.2M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) NOTE 2.625% 2/1 · principal Sold out 77,105,000 $6.9Mbefore exit
SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) NOTE 0.250%12/0 · principal Sold out 36,000,000 $3.6Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 512$30.3BCQP, SPCX, DLR, CRBG, LGN
Q1 2026Amended 414$24.4BCQP, CRBG, FE, LGN, WMB
Q4 2025Amended 239$23.0BCQP, CRBG, FE, LGN, WMB
Q3 2025Amended 244$23.4BCQP, CRBG, FE, WMB, EQT
Q2 2025 162$22.2BCQP, CRBG, WMB, FE, MPLX
Q1 2025 167$22.8BCQP, CRBG, WMB, FE, TRGP
Q4 2024 152$21.1BCQP, CRBG, FE, ET, EXE
Q3 2024 151$22.0BCQP, ET, CRBG, FE, EXE
Q2 2024 162$22.5BCQP, ET, CRBG, FE, EXE
Q1 2024 164$23.1BCQP, ET, CRBG, GTES, EXE