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

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 Q2 2025 Q3 2025: $23.4B Q3 2025 Q4 2025: $23.0B $23.0B Q4 2025 Q1 2026: $24.4B Q1 2026 Q2 2026: $30.3B Q2 2026

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%
BLSH Bullish 0.03% 200,000 $7.6M No change
AAPL Apple Inc. 0.03% 26,907 $7.3M Add +194.3%
CORZ Core Scientific Inc. 0.03% 500,000 $7.3M Reduce -50.0%
WMT Walmart Inc. 0.03% 62,593 $7.0M Add +152.7%
GE General Electric filed as GE AEROSPACE 0.03% 21,087 $6.5M Add +422.5%
MA Mastercard Inc. Class A 0.03% 10,947 $6.2M Add +549.3%
DKL Delek Logistics Partners LP 0.03% 138,325 $6.2M Add +6.5%
NFLX Netflix Inc. 0.03% 63,308 $5.9M Add +189.1%
HPP Hudson Pacific Properties Inc. 0.03% 542,442 $5.9M Reduce -0.1%
LMRI Lumexa Imaging Holdings Inc. 0.02% 300,000 $5.5M New
APLE Apple Hospitality REIT Inc. 0.02% 446,900 $5.3M No change
QUBT Quantum Computing Inc. 0.02% 500,000 $5.1M Reduce -62.8%
GM General Motors Co. 0.02% 62,284 $5.1M New
MNSO Miniso Group Holding Ltd.-ADR 0.02% 259,702 $4.9M Add +260.9%
ROIV Roivant Sciences Ltd. 0.02% 223,244 $4.8M Add +65.6%
FSLR First Solar Inc. 0.02% 18,360 $4.8M Add +422.2%
JPM JPMorgan Chase & Co. 0.02% 14,656 $4.7M Add +540.3%
CVS CVS Health Corp. 0.02% 59,223 $4.7M Add +154.8%
SHEL Shell PLC-ADR 0.02% 63,064 $4.6M Add +236.6%
AXSM Axsome Therapeutics Inc. 0.02% 24,500 $4.5M Reduce -82.5%
BTI British American Tob-SP ADR 0.02% 77,314 $4.4M Add +230.9%
CYRX Cryoport Inc. 0.02% 453,396 $4.4M No change
TEVA Teva Pharmaceutical-SP ADR 0.02% 137,056 $4.3M Add +100.9%
TDG Transdigm Group Inc. 0.02% 3,199 $4.3M Add +426.1%
BP BP PLC-Spons ADR 0.02% 121,896 $4.2M Add +214.3%
TSM Taiwan Semiconductor-SP ADR 0.02% 13,682 $4.2M Add +60.4%
GTLB Gitlab Inc. Class A 0.02% 109,706 $4.1M New
LINE Lineage Inc. 0.02% 117,538 $4.1M New
UBER Uber Technologies Inc. 0.02% 49,879 $4.1M Add +177.3%
MRP Millrose Properties 0.02% 135,411 $4.0M New
CPNG Coupang Inc. 0.02% 169,287 $4.0M New
APGE Apogee Therapeutics Inc. 0.02% 51,827 $3.9M Reduce -72.8%
SNPS Synopsys Inc. 0.02% 8,295 $3.9M Add +749.9%
PCG P G & E Corp. 0.02% 241,451 $3.9M Add +224.5%
DRVN Driven Brands Holdings Inc. 0.02% 250,705 $3.7M New
MO Altria Group Inc. 0.02% 64,143 $3.7M Add +240.3%
SPGI S&P Global Inc. 0.02% 7,063 $3.7M New
DHR Danaher Corp. 0.02% 15,691 $3.6M Add +198.4%
CNTX Context Therapeutics Inc. 0.02% 2,440,330 $3.6M No change
WDC Western Digital Corp. 0.02% 20,605 $3.5M New
XEL Xcel Energy Inc. 0.02% 48,041 $3.5M New
ATEC Alphatec Holdings Inc. 0.01% 161,900 $3.4M New
FERG Ferguson Enterprises Inc. 0.01% 15,059 $3.4M Add +243.7%
MIAX Miami International Holdings 0.01% 75,000 $3.3M Add +50.0%
TS Tenaris SA-ADR 0.01% 84,597 $3.3M New
ETR Entergy Corp. 0.01% 34,951 $3.2M Add +229.5%
FHN First Horizon Corp. 0.01% 134,596 $3.2M New
FOXA Fox Corp. Class A 0.01% 43,931 $3.2M New
UNH Unitedhealth Group Inc. 0.01% 8,996 $3.0M Add +2.7%
SYF Synchrony Financial 0.01% 35,435 $3.0M New
NWSA News Corp. Class A 0.01% 112,975 $3.0M New
AMTM Amentum Holdings Inc. 0.01% 99,643 $2.9M Add +102.9%
CTVA Corteva Inc. 0.01% 42,998 $2.9M New
ABCB Ameris Bancorp 0.01% 38,741 $2.9M New
CVX Chevron Corp. 0.01% 18,792 $2.9M New
ABT Abbott Laboratories 0.01% 22,858 $2.9M Add +180.3%
GLW Corning Inc. 0.01% 32,523 $2.8M New
DXCM Dexcom Inc. 0.01% 42,417 $2.8M New
PG The Procter & Gamble Co. 0.01% 19,531 $2.8M Add +105.0%
NEE Nextera Energy Inc. 0.01% 34,626 $2.8M Add +1118.8%
ISRG Intuitive Surgical Inc. 0.01% 4,891 $2.8M New
AAUC Allied Gold Corp. 0.01% 119,457 $2.7M New
CAPL Crossamerica Partners LP 0.01% 131,598 $2.7M Add +6.5%
GBTG Global Business Travel Group 0.01% 353,031 $2.7M Reduce -0.8%
F Ford Motor Co. filed as FORD MTR CO 0.01% 203,130 $2.7M Add +120.2%
PLNT Planet Fitness Inc. Class A 0.01% 24,373 $2.6M Add +261.5%
CEPF Cantor Equity Partners Class A 0.01% 250,000 $2.6M No change
CEPV Cantor Equity Partners Class A 0.01% 250,000 $2.6M New
SPOT Spotify Technology SA 0.01% 4,391 $2.5M Add +246.3%
MMLP Martin Midstream Partners LP 0.01% 975,081 $2.5M Reduce -0.8%
SGHC Super Group SGHC Ltd. 0.01% 208,349 $2.5M New
TNL Travel + Leisure Co. 0.01% 35,073 $2.5M New
INTU Intuit Inc. 0.01% 3,733 $2.5M New
ENVA Enova International Inc. 0.01% 15,607 $2.5M New
MCK McKesson Corp. 0.01% 2,968 $2.4M Add +77.3%
APLD Applied Digital Corp. 0.01% 98,678 $2.4M New
SE Sea Ltd.-ADR 0.01% 18,439 $2.4M Add +103.2%
MT Arcelormittal-NY Registered 0.01% 50,984 $2.3M Add +74.2%
MCD McDonald's Corp. 0.01% 7,596 $2.3M New
GS Goldman Sachs Group Inc. 0.01% 2,616 $2.3M Add +172.2%
ORLY O'reilly Automotive Inc. 0.01% 24,880 $2.3M New
MMM 3M Co. 0.01% 14,098 $2.3M New
NTSK Netskope Inc. Class A 0.01% 125,000 $2.2M Reduce -64.3%
AVGO Broadcom Inc. 0.01% 6,182 $2.1M New
BSX Boston Scientific Corp. 0.01% 22,201 $2.1M Add +201.3%
SGU Star Group LP 0.01% 173,629 $2.1M Add +6.5%
IMVT Immunovant Inc. 0.01% 79,673 $2.0M New
CP Canadian Pacific Kansas City 0.01% 27,239 $2.0M New
ARIS Aris Mining Corp. filed as ARIS MNG CORP 0.01% 122,951 $2.0M New
GRAL Grail Inc. 0.01% 23,036 $2.0M New
B Barrick Mining Corp. 0.01% 44,623 $1.9M Add +9.9%
ARM Arm Holdings PLC-ADR 0.01% 16,784 $1.8M New
APP AppLovin Corp. Class A 0.01% 2,545 $1.7M New
ECHO Echostar Corp. Class A 0.01% 14,702 $1.6M New
WBD Warner Bros Discovery Inc. 0.01% 54,857 $1.6M New
ONC Beone Medicines Ltd.-ADR 0.01% 5,203 $1.6M New
RNAM Avidity Biosciences Inc. 0.01% 21,470 $1.5M New
CDTX Cidara Therapeutics Inc. 0.01% 6,944 $1.5M New
JHG Janus Henderson Group PLC 0.01% 32,028 $1.5M New
INDV Indivior Ltd. 0.01% 42,288 $1.5M New
NSC Norfolk Southern Corp. 0.01% 5,231 $1.5M New
MELI MercadoLibre Inc. 0.01% 711 $1.4M New
DBRG Digitalbridge Group Inc. 0.01% 92,887 $1.4M New
NKTX Nkarta Inc. 0.01% 747,044 $1.4M No change
AHL Aspen Insurance Holdings Class A 0.01% 37,053 $1.4M New
FYBR Frontier Communications Pare 0.01% 34,262 $1.3M New
LITE Lumentum Holdings Inc. 0.01% 3,418 $1.3M New
TGNA Tegna Inc. 0.01% 63,974 $1.2M New
HI Hillenbrand Inc. 0.01% 38,300 $1.2M New
CELC Celcuity Inc. 0.01% 11,668 $1.2M New
GOOG Alphabet Inc. Class C 0.00% 3,542 $1.1M New
ASML ASML Holding NV-NY Reg SHS 0.00% 1,035 $1.1M New
CSGS CSG Systems Intl Inc. 0.00% 14,369 $1.1M New
DAVE Dave Inc. 0.00% 4,811 $1.1M Add +86.7%
TTMI TTM Technologies 0.00% 14,212 $981K New
SEMR Semrush Holdings Inc. Class A 0.00% 79,299 $943K New
JAMF Jamf Holding Corp. filed as JAMF HLDG CORP 0.00% 70,193 $913K New
PM Philip Morris International 0.00% 5,674 $910K Reduce -51.5%
CBIO Crescent Biopharma Inc. 0.00% 75,614 $897K No change
TGS Transportador Gas-ADR SP B 0.00% 24,946 $776K New
FSSL FS Specialty Lending Fund 0.00% 48,202 $682K New
BRK.B Berkshire Hathaway Inc. Class B 0.00% 1,307 $657K No change
PRA Proassurance Corp. 0.00% 25,193 $609K New
MLM Martin Marietta Materials 0.00% 884 $550K Reduce -3.4%
SRE Sempra 0.00% 6,200 $547K Reduce -99.4%
STAA Staar Surgical Co. 0.00% 22,795 $526K New
SHCO Soho House & Co. Inc. 0.00% 47,502 $426K New
MRNA Moderna Inc. 0.00% 12,613 $372K No change
GLOO Gloo Holdings Inc. Class A 0.00% 60,800 $346K New
BKV BKV Corporation 0.00% 11,981 $325K Reduce -22.4%
NEXT Nextdecade Corp. 0.00% 59,418 $313K Add +6.5%
XBI SS SPDR S&P Biotech ETF 0.00% 2,548 $311K No change
DASH DoorDash Inc. Class A 0.00% 892 $202K Reduce -8.7%
NG Novagold Resources Inc. 0.00% 17,051 $159K New
XIFR XPLR Infrastructure LP 0.00% 14,000 $140K New
BTDR Bitdeer Technologies Group-A 0.00% 10,444 $117K New
ALEC Alector Inc. 0.00% 66,859 $104K Add +160.0%
PLUG Plug Power Inc. 0.00% 15,250 $30K New
PLRX Pliant Therapeutics Inc. 0.00% 22,206 $27K No change

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)
SecurityClassShares / PrincipalValueChange
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal 16,000,000$18.1MNew
MARA HOLDINGS INC (MARA 0 03/01/30) NOTE 3/0 · principal 20,000,000$15.8MNew
JD.COM INC (JD 0.25 06/01/29) NOTE 0.250% 6/0 · principal 11,000,000$11.0MNew

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

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