Blackstone Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Blackstone Inc. reported 239 stock positions worth $23.0 billion. Its top holding was Cheniere Energy Partners (CQP) at 23.8% of the portfolio, followed by Corebridge Financial (CRBG, 8.1%) and Firstenergy (FE, 5.6%). Compared with Q3 2025, it opened 85 new positions, sold out of 90, added to 79 and reduced 39. The biggest buy was MPLX (MPLX, shares +12%) and the biggest sale Loar (LOAR, shares −48%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001393818
- Portfolio Value
- $23.0B (Q4 2025)
- SEC Filing
- 0001193125-26-054623 ↗ filed Feb 17, 2026
Holdings Value
Holdings 239 stocks · $23.0B
| CQP Cheniere Energy Partners LP | 23.82% | 102,346,331 | $5.5B | No change |
| CRBG Corebridge Financial Inc. | 8.13% | 61,962,123 | $1.9B | No change |
| FE Firstenergy Corp. | 5.62% | 28,832,099 | $1.3B | No change |
| LGN Legence Corp. Class A | 4.84% | 25,821,570 | $1.1B | Reduce -11.0% |
| WMB Williams Cos Inc. | 4.62% | 17,647,639 | $1.1B | Reduce -10.0% |
| EQT Eqt Corp. | 4.30% | 18,431,631 | $987.9M | Add +0.8% |
| MPLX MPLX LP | 3.65% | 15,705,485 | $838.2M | Add +12.0% |
| LNG Cheniere Energy Inc. | 3.29% | 3,889,928 | $756.2M | Add +12.8% |
| ENB Enbridge Inc. | 3.09% | 14,841,870 | $709.9M | Reduce -5.1% |
| TRGP Targa Resources Corp. | 3.01% | 3,752,528 | $692.3M | Reduce -1.7% |
| EPD Enterprise Products Partners | 2.69% | 19,255,355 | $617.3M | Reduce -6.3% |
| KMI Kinder Morgan Inc. | 2.56% | 21,373,863 | $587.6M | Reduce -1.7% |
| TXNM TXNM Energy Inc. | 2.05% | 8,000,000 | $471.0M | No change |
| WES Western Midstream Partners L | 1.91% | 11,092,895 | $438.2M | Add +22.6% |
| KNTK Kinetik Holdings Inc. | 1.87% | 11,914,273 | $429.5M | Add +0.0% |
| ET Energy Transfer LP | 1.85% | 25,775,241 | $425.0M | Reduce -33.1% |
| DTM DT Midstream Inc. | 1.16% | 2,230,647 | $267.0M | Add +1.4% |
| OKE Oneok Inc. | 1.13% | 3,524,100 | $259.0M | Reduce -0.5% |
| LOAR Loar Holdings Inc. | 1.05% | 3,548,506 | $241.3M | Reduce -48.1% |
| PAA Plains All Amer Pipeline LP | 1.04% | 13,292,576 | $238.7M | Reduce -3.4% |
| VNOM Viper Energy Inc. Class A | 0.84% | 5,000,000 | $193.2M | Add +150.0% |
| BXMT Blackstone Mortgage Tru Class A | 0.77% | 9,283,323 | $177.6M | Add +7.9% |
| PTEN Patterson-Uti Energy Inc. | 0.75% | 28,061,526 | $171.5M | No change |
| BMBL Bumble Inc. Class A | 0.58% | 37,387,500 | $133.5M | Add +79.6% |
| SUN Sunoco LP | 0.56% | 2,434,594 | $127.6M | Add +29.2% |
| HESM Hess Midstream LP Class A | 0.55% | 3,647,075 | $125.8M | Add +0.1% |
| TRP TC Energy Corp. | 0.54% | 2,251,984 | $123.9M | Add +34.0% |
| TASK Taskus Inc. Class A | 0.52% | 10,094,674 | $119.0M | No change |
| AMZN Amazon.com Inc. | 0.51% | 507,780 | $117.2M | Add +23.5% |
| MSFT Microsoft Corp. | 0.45% | 215,459 | $104.2M | Add +2358.2% |
| CWAN Clearwater Analytics HDS-A | 0.43% | 4,067,360 | $98.1M | No change |
| PSFE Paysafe Ltd. | 0.39% | 10,961,114 | $88.7M | No change |
| VNET Vnet Group Inc.-ADR | 0.38% | 10,402,130 | $88.0M | No change |
| BXSL Blackstone Secured Lending F | 0.37% | 3,206,530 | $84.4M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 0.37% | 7,316,901 | $84.1M | Add +26.1% |
| SUNC Sunococorp LLC | 0.35% | 1,634,855 | $80.6M | New |
| MTZ Mastec Inc. | 0.34% | 363,924 | $79.1M | Add +13.7% |
| SHO Sunstone Hotel Investors Inc. | 0.34% | 8,645,000 | $77.3M | No change |
| FLUT Flutter Entertainment PLC-Di | 0.31% | 335,000 | $72.0M | Add +55.8% |
| V Visa Inc. Class A | 0.30% | 198,293 | $69.5M | Add +60.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.29% | 98,810 | $67.4M | Add +9.5% |
| FTV Fortive Corp. | 0.28% | 1,170,000 | $64.6M | Reduce -22.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.28% | 1,155,000 | $63.5M | Add +20.4% |
| NVT Nvent Electric PLC | 0.27% | 610,000 | $62.2M | New |
| CCAP Crescent Capital BDC Inc. | 0.26% | 4,205,307 | $59.1M | No change |
| ACHR Archer Aviation Inc. Class A | 0.26% | 7,812,500 | $58.8M | New |
| COF Capital One Financial Corp. | 0.23% | 214,030 | $51.9M | Reduce -33.0% |
| AM Antero Midstream Corp. | 0.22% | 2,797,376 | $49.8M | Reduce -1.2% |
| GDX Vaneck Gold Miners ETF | 0.21% | 567,710 | $48.7M | Add +62.2% |
| GTLS Chart Industries Inc. | 0.20% | 222,353 | $45.9M | Reduce -11.1% |
| EA Electronic Arts Inc. | 0.19% | 212,437 | $43.4M | Add +324.9% |
| IWM iShares Russell 2000 ETF | 0.18% | 167,601 | $41.3M | No change |
| AUTL Autolus Therapeutics PLC | 0.18% | 20,485,611 | $40.8M | No change |
| PAGP Plains GP Holdings LP | 0.17% | 2,022,101 | $38.7M | Reduce -1.4% |
| FOA Finance of America Cos Inc. Class A | 0.17% | 1,596,142 | $38.6M | Reduce -50.0% |
| CYBR Cyberark Software Ltd./Israel | 0.17% | 85,483 | $38.1M | Add +6.8% |
| PBA Pembina Pipeline Corp. | 0.16% | 964,494 | $36.7M | Add +1.0% |
| FOLD Amicus Therapeutics Inc. | 0.16% | 2,574,204 | $36.7M | Add +4.3% |
| WBS Webster Financial Corp. | 0.16% | 575,000 | $36.2M | New |
| ORKA Oruka Therapeutics Inc. | 0.15% | 1,165,408 | $35.3M | Add +37.0% |
| CMA Comerica Inc. | 0.15% | 388,669 | $33.8M | New |
| CMPX Compass Therapeutics Inc. | 0.14% | 6,126,182 | $32.9M | Reduce -37.7% |
| TECK Teck Resources Ltd.-CLS B | 0.14% | 650,000 | $31.1M | Add +2837.8% |
| KRE SS SPDR S&P Regional Bank | 0.12% | 425,782 | $27.6M | New |
| MIND MEDICINE MINDMED INC | 0.12% | 2,059,805 | $27.6M | Reduce -25.8% |
| EXAS Exact Sciences Corp. | 0.11% | 239,996 | $24.4M | New |
| ITT Itt Inc. | 0.11% | 140,000 | $24.3M | New |
| CRS Carpenter Technology | 0.10% | 73,491 | $23.1M | Add +2337.5% |
| SRLN SS Blackstone Sr Loan ETF | 0.10% | 555,591 | $22.9M | No change |
| VRT Vertiv Holdings Co. Class A | 0.10% | 135,000 | $21.9M | New |
| OTLY Oatly Group AB | 0.09% | 1,988,909 | $21.3M | No change |
| VIK Viking Holdings Ltd. | 0.09% | 275,000 | $19.6M | No change |
| SOBO South Bow Corp. | 0.08% | 709,098 | $19.5M | Reduce -67.3% |
| TERN Terns Pharmaceuticals Inc. | 0.08% | 476,754 | $19.3M | New |
| INDA iShares MSCI India ETF | 0.08% | 350,872 | $19.0M | No change |
| LBRDK Liberty Broadband-C | 0.08% | 375,093 | $18.2M | Reduce -12.4% |
| BAER Bridger Aerospace Group Hold | 0.08% | 9,624,610 | $17.6M | No change |
| ARRY Array Technologies Inc. | 0.07% | 1,799,900 | $16.6M | No change |
| SYRE Spyre Therapeutics Inc. | 0.07% | 500,998 | $16.4M | No change |
| USAC USA Compression Partners LP | 0.07% | 696,709 | $16.0M | Add +6.5% |
| META Meta Platforms Inc. Class A | 0.07% | 24,052 | $15.9M | Add +290.8% |
| KLAR Klarna Group PLC | 0.07% | 525,844 | $15.2M | Reduce -13.2% |
| ELVN Enliven Therapeutics Inc. | 0.06% | 954,946 | $14.7M | Reduce -27.7% |
| CFLT Confluent Inc. Class A | 0.06% | 485,000 | $14.7M | New |
| CRH CRH PLC | 0.06% | 110,000 | $13.7M | Reduce -75.6% |
| IKT Inhibikase Therapeutics Inc. | 0.05% | 5,938,276 | $12.2M | Add +125.1% |
| CLDT Chatham Lodging Trust | 0.05% | 1,621,000 | $11.0M | No change |
| ASMB Assembly Biosciences Inc. | 0.05% | 318,754 | $10.8M | Reduce -28.8% |
| XFOR X4 Pharmaceuticals Inc. | 0.05% | 2,681,922 | $10.7M | New |
| FSCO FS Credit Opportunities Corp. | 0.05% | 1,662,945 | $10.5M | No change |
| TARA Protara Therapeutic Inc. | 0.04% | 1,909,662 | $10.2M | No change |
| GLP Global Partners LP | 0.04% | 240,717 | $10.1M | Add +6.0% |
| KBONU Karbon Capital Partners Corp. | 0.04% | 1,000,000 | $10.1M | New |
| NVDA Nvidia Corp. | 0.04% | 51,630 | $9.6M | Add +39.4% |
| LXEO Lexeo Therapeutics Inc. | 0.04% | 904,959 | $9.0M | Reduce -19.6% |
| GEL Genesis Energy L.P. | 0.04% | 575,735 | $9.0M | No change |
| UNP Union Pacific Corp. | 0.04% | 35,733 | $8.3M | Add +704.3% |
| SPH Suburban Propane Partners LP | 0.04% | 440,936 | $8.2M | Add +6.5% |
| SABS Sab Biotherapeutics Inc. | 0.03% | 2,143,585 | $8.0M | New |
| GOOGL Alphabet Inc. Class A | 0.03% | 24,867 | $7.8M | Reduce -70.2% |
Options reported separately and not counted above: SPY puts ($1.7B), IWM calls ($443.1M), QQQ calls ($307.2M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $45.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 16,000,000 | $18.1M | New |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 20,000,000 | $15.8M | New |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 11,000,000 | $11.0M | New |
Total filed on the 13F, all lines: $23.0B.
Portfolio Sells Q3 2025 → Q4 2025
| LOAR Loar Holdings Inc. | Reduce -48.1% | 1.05% | −1.29 |
| ET Energy Transfer LP | Reduce -33.1% | 1.85% | −0.98 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −0.91 |
| WMB Williams Cos Inc. | Reduce -10.0% | 4.62% | −0.69 |
| SRE Sempra | Reduce -99.4% | 0.00% | −0.37 |
| ENB Enbridge Inc. | Reduce -5.1% | 3.09% | −0.28 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.21 |
| RNR Renaissancere Holdings Ltd. | Sold out | 0.00% | −0.18 |
| SOBO South Bow Corp. | Reduce -67.3% | 0.08% | −0.18 |
| CRH CRH PLC | Reduce -75.6% | 0.06% | −0.17 |
| FOA Finance of America Cos Inc. Class A | Reduce -50.0% | 0.17% | −0.14 |
| RZLT Rezolute Inc. | Sold out | 0.00% | −0.12 |
| ZYME Zymeworks Inc. | Sold out | 0.00% | −0.12 |
| VST Vistra Corp. | Sold out | 0.00% | −0.11 |
| MP MP Materials Corp. | Sold out | 0.00% | −0.09 |
| CRWV Coreweave Inc. Class A | Sold out | 0.00% | −0.09 |
| QUBT Quantum Computing Inc. | Reduce -62.8% | 0.02% | −0.08 |
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −0.08 |
| KMI Kinder Morgan Inc. | Reduce -1.7% | 2.56% | −0.07 |
| WBI Waterbridge Infrastruc Class A | Sold out | 0.00% | −0.07 |
| CRCL Circle Internet Group Inc. | Sold out | 0.00% | −0.07 |
| COF Capital One Financial Corp. | Reduce -33.0% | 0.23% | −0.06 |
| EPD Enterprise Products Partners | Reduce -6.3% | 2.69% | −0.06 |
| NBIS Nebius Group NV | Sold out | 0.00% | −0.06 |
| AXSM Axsome Therapeutics Inc. | Reduce -82.5% | 0.02% | −0.05 |
| GOOGL Alphabet Inc. Class A | Reduce -70.2% | 0.03% | −0.05 |
| ELVN Enliven Therapeutics Inc. | Reduce -27.7% | 0.06% | −0.05 |
| KRMN Karman Holdings Inc. | Sold out | 0.00% | −0.05 |
| SARO Standardaero Inc. | Sold out | 0.00% | −0.05 |
| CORZ Core Scientific Inc. | Reduce -50.0% | 0.03% | −0.04 |
| LBRDK Liberty Broadband-C | Reduce -12.4% | 0.08% | −0.04 |
| FIG Figma Inc. Class A | Sold out | 0.00% | −0.03 |
| FTV Fortive Corp. | Reduce -22.0% | 0.28% | −0.03 |
| KLAR Klarna Group PLC | Reduce -13.2% | 0.07% | −0.03 |
| NTSK Netskope Inc. Class A | Reduce -64.3% | 0.01% | −0.02 |
| WYFI Whitefiber Inc. | Sold out | 0.00% | −0.02 |
| LB Landbridge Co. LLC-A | Sold out | 0.00% | −0.02 |
| CEPT Cantor Equity Partners Class A | Sold out | 0.00% | −0.02 |
| MIND MEDICINE MINDMED INC | Reduce -25.8% | 0.12% | −0.02 |
| HPP Hudson Pacific Properties Inc. | Reduce -0.1% | 0.03% | −0.02 |
| AM Antero Midstream Corp. | Reduce -1.2% | 0.22% | −0.02 |
| FIGR Figure Technology Solut Class A | Sold out | 0.00% | −0.02 |
| NIQ Niq Global Intelligence PLC | Sold out | 0.00% | −0.02 |
| APGE Apogee Therapeutics Inc. | Reduce -72.8% | 0.02% | −0.02 |
| GTLS Chart Industries Inc. | Reduce -11.1% | 0.20% | −0.01 |
| ARX Accelerant Holdings Class A | Sold out | 0.00% | −0.01 |
| EGO Eldorado Gold Corp. | Sold out | 0.00% | −0.01 |
| CIFR Cipher Digital Inc. | Sold out | 0.00% | −0.01 |
| EQX Equinox Gold Corp. | Sold out | 0.00% | −0.01 |
| MGM MGM Resorts International | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| MPLX MPLX LP | Add +12.0% | 3.65% | +0.65 |
| VNOM Viper Energy Inc. Class A | Add +150.0% | 0.84% | +0.51 |
| MSFT Microsoft Corp. | Add +2358.2% | 0.45% | +0.43 |
| WES Western Midstream Partners L | Add +22.6% | 1.91% | +0.39 |
| SUNC Sunococorp LLC | New | 0.35% | +0.35 |
| NVT Nvent Electric PLC | New | 0.27% | +0.27 |
| ACHR Archer Aviation Inc. Class A | New | 0.26% | +0.26 |
| WBS Webster Financial Corp. | New | 0.16% | +0.16 |
| SUN Sunoco LP | Add +29.2% | 0.56% | +0.15 |
| TRP TC Energy Corp. | Add +34.0% | 0.54% | +0.15 |
| CMA Comerica Inc. | New | 0.15% | +0.15 |
| EA Electronic Arts Inc. | Add +324.9% | 0.19% | +0.15 |
| CX Cemex Sab-Spons ADR Part Cer | Add +26.1% | 0.37% | +0.14 |
| TECK Teck Resources Ltd.-CLS B | Add +2837.8% | 0.14% | +0.13 |
| AMZN Amazon.com Inc. | Add +23.5% | 0.51% | +0.12 |
| V Visa Inc. Class A | Add +60.7% | 0.30% | +0.12 |
| KRE SS SPDR S&P Regional Bank | New | 0.12% | +0.12 |
| EXAS Exact Sciences Corp. | New | 0.11% | +0.11 |
| ITT Itt Inc. | New | 0.11% | +0.11 |
| DTM DT Midstream Inc. | Add +1.4% | 1.16% | +0.10 |
| GDX Vaneck Gold Miners ETF | Add +62.2% | 0.21% | +0.10 |
| CRS Carpenter Technology | Add +2337.5% | 0.10% | +0.10 |
| BXMT Blackstone Mortgage Tru Class A | Add +7.9% | 0.77% | +0.10 |
| VRT Vertiv Holdings Co. Class A | New | 0.10% | +0.10 |
| ORKA Oruka Therapeutics Inc. | Add +37.0% | 0.15% | +0.08 |
| TERN Terns Pharmaceuticals Inc. | New | 0.08% | +0.08 |
| FLUT Flutter Entertainment PLC-Di | Add +55.8% | 0.31% | +0.08 |
| FOLD Amicus Therapeutics Inc. | Add +4.3% | 0.16% | +0.08 |
| BAC Bank of America Corp. | Add +20.4% | 0.28% | +0.06 |
| CFLT Confluent Inc. Class A | New | 0.06% | +0.06 |
| MTZ Mastec Inc. | Add +13.7% | 0.34% | +0.05 |
| META Meta Platforms Inc. Class A | Add +290.8% | 0.07% | +0.05 |
| XFOR X4 Pharmaceuticals Inc. | New | 0.05% | +0.05 |
| EQT Eqt Corp. | Add +0.8% | 4.30% | +0.04 |
| KBONU Karbon Capital Partners Corp. | New | 0.04% | +0.04 |
| BMBL Bumble Inc. Class A | Add +79.6% | 0.58% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.5% | 0.29% | +0.04 |
| SABS Sab Biotherapeutics Inc. | New | 0.03% | +0.03 |
| IKT Inhibikase Therapeutics Inc. | Add +125.1% | 0.05% | +0.03 |
| UNP Union Pacific Corp. | Add +704.3% | 0.04% | +0.03 |
| LMRI Lumexa Imaging Holdings Inc. | New | 0.02% | +0.02 |
| GE General Electric | Add +422.5% | 0.03% | +0.02 |
| MA Mastercard Inc. Class A | Add +549.3% | 0.03% | +0.02 |
| GM General Motors Co. | New | 0.02% | +0.02 |
| AAPL Apple Inc. | Add +194.3% | 0.03% | +0.02 |
| WMT Walmart Inc. | Add +152.7% | 0.03% | +0.02 |
| GTLB Gitlab Inc. Class A | New | 0.02% | +0.02 |
| LINE Lineage Inc. | New | 0.02% | +0.02 |
| FSLR First Solar Inc. | Add +422.2% | 0.02% | +0.02 |
| MRP Millrose Properties | New | 0.02% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +10.8% | 2,549,300 | $1.7B |
| IWM iShares Russell 2000 ETF | call | New | 1,800,000 | $443.1M |
| QQQ Invesco QQQ Trust Series 1 | call | New | 500,000 | $307.2M |
| BULL Webull Corp. | put | Sold out | 1,100,000 | $16.3Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Sold out | 20,000,000 | $18.4Mbefore exit |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | New | 16,000,000 | $18.1M |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | New | 20,000,000 | $15.8M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | New | 11,000,000 | $11.0M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Sold out | 250,000 | $9.5Mbefore 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 |