Kohlberg Kravis Roberts & Co. L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Kohlberg Kravis Roberts & Co. L.P. reported 13 stock positions worth $4.4 billion. Its top holding was Brightspring Health Services (BTSG) at 41.7% of the portfolio, followed by Henry Schein (HSIC, 26.2%) and Bridgebio Pharma (BBIO, 13.1%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 3 and reduced 3. The biggest buy was Crescent Energy Class A (CRGY, shares +4575%) and the biggest sale Bridgebio Pharma (BBIO, shares −31%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001399770
- Portfolio Value
- $4.4B (Q2 2025)
- SEC Filing
- 0001463931-25-000009 ↗ filed Aug 14, 2025
Holdings Value
Holdings 13 stocks · $4.4B
| BTSG Brightspring Health Services | 41.67% | 77,096,338 | $1.8B | Reduce -17.1% |
| HSIC Henry Schein Inc. | 26.19% | 15,652,032 | $1.1B | Add +30.3% |
| BBIO Bridgebio Pharma Inc. | 13.12% | 13,260,971 | $572.6M | Reduce -31.1% |
| BV Brightview Holdings Inc. | 7.85% | 21,533,123 | $342.7M | Reduce -35.0% |
| CRGY Crescent Energy Inc. Class A | 5.27% | 26,758,127 | $230.1M | Add +4575.1% |
| KREF KKR Real Estate Finance Trus | 2.01% | 10,000,001 | $87.7M | No change |
| MSGS Madison Square Garden Sports | 1.46% | 305,068 | $63.7M | No change |
| BHC Bausch Health Cos Inc. | 0.80% | 5,235,000 | $34.9M | No change |
| DEC Diversified Energy Co. PLC | 0.72% | 2,106,785 | $31.4M | Add +11.1% |
| FSK FS KKR Capital Corp. | 0.47% | 980,587 | $20.3M | No change |
| NCLH Norwegian Cruise Line Holdin | 0.39% | 831,000 | $16.9M | No change |
| CHRS Coherus Oncology Inc. | 0.05% | 3,036,076 | $2.2M | No change |
| INSM Insmed Inc. | 0.01% | 3,284 | $331K | New |
Other holdings (63): bonds, preferreds, convertibles and warrants · $475.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 140,491,400 | $138.4M | Reduce -0.2% |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 137,208,000 | $131.7M | Add +0.7% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 27,730,000 | $26.3M | Add +45.0% |
| IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 22,535,000 | $19.5M | No change |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 15,981,000 | $17.7M | Add +1897.6% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 10,270,000 | $14.2M | New |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 10,160,000 | $11.0M | Reduce -16.4% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 5,780,000 | $10.4M | Add +2527.3% |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 10,276,000 | $9.3M | New |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 6,500,000 | $8.5M | Reduce -18.8% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 7,054,000 | $8.4M | New |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 6,000,000 | $6.4M | New |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 6,900,000 | $6.0M | Add +81.6% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 5,706,000 | $5.6M | Add +110.9% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 5,918,000 | $5.5M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 3,500,000 | $4.0M | No change |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 3,851,000 | $3.8M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 3,600,000 | $3.6M | Add +80.0% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 3,398,000 | $3.2M | Add +23.0% |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 2,857,000 | $2.5M | No change |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 2,000,000 | $2.3M | New |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 2,815,000 | $2.2M | Reduce -74.1% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 2,000,000 | $1.9M | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,205,000 | $1.8M | No change |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 1,714,000 | $1.7M | New |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,092,000 | $1.6M | No change |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 1,668,000 | $1.6M | New |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 894,000 | $1.6M | No change |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 1,261,000 | $1.5M | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 1,479,000 | $1.4M | No change |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 1,307,000 | $1.3M | Add +143.4% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 1,380,000 | $1.3M | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 1,300,000 | $1.2M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 758,000 | $1.2M | No change |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 996,000 | $1.1M | Add +200.9% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 975,000 | $1.0M | Add +32.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 972,000 | $985K | No change |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 649,000 | $965K | Add +171.6% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 874,000 | $875K | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 826,000 | $833K | No change |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 815,000 | $778K | New |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 594,000 | $712K | No change |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 762,000 | $695K | New |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 650,000 | $685K | Add +100.0% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 528,000 | $672K | No change |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 625,000 | $624K | No change |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 1,000,000 | $620K | New |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 615,000 | $581K | Add +38.2% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 565,000 | $563K | Reduce -48.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 585,000 | $557K | Reduce -90.8% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 650,000 | $554K | New |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 572,000 | $548K | Reduce -50.8% |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 535,000 | $520K | New |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 501,000 | $465K | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 341,000 | $454K | New |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 250,000 | $449K | New |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 371,000 | $376K | Reduce -42.5% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 390,000 | $365K | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 375,000 | $354K | No change |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 322,000 | $311K | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 277,000 | $270K | No change |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 175,000 | $202K | New |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 200,000 | $180K | Reduce -73.5% |
Total filed on the 13F, all lines: $4.8B.
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
Notes & Other Activity Q1 2025 → Q2 2025
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Reduce -0.2% | 140,491,400 | $138.4M |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Add +0.7% | 137,208,000 | $131.7M |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | Sold out | 95,464,000 | $88.9Mbefore exit |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Add +45.0% | 27,730,000 | $26.3M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 25,215,000 | $25.1Mbefore exit |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | Add +1897.6% | 15,981,000 | $17.7M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | New | 10,270,000 | $14.2M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Sold out | 12,500,000 | $12.7Mbefore exit |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -16.4% | 10,160,000 | $11.0M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +2527.3% | 5,780,000 | $10.4M |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | New | 10,276,000 | $9.3M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -18.8% | 6,500,000 | $8.5M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | New | 7,054,000 | $8.4M |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | Sold out | 7,880,000 | $7.4Mbefore exit |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | New | 6,000,000 | $6.4M |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | Sold out | 6,500,000 | $6.3Mbefore exit |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | Sold out | 6,155,000 | $6.1Mbefore exit |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | Add +81.6% | 6,900,000 | $6.0M |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | Sold out | 5,608,000 | $5.6Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Add +110.9% | 5,706,000 | $5.6M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +80.0% | 3,600,000 | $3.6M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +23.0% | 3,398,000 | $3.2M |
| SABRE GLBL INC (SABHLD 4 04/15/25) | NOTE 4.000% 4/1 · principal | Sold out | 2,720,000 | $2.7Mbefore exit |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | New | 2,000,000 | $2.3M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Reduce -74.1% | 2,815,000 | $2.2M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | New | 2,000,000 | $1.9M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | New | 1,714,000 | $1.7M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 1,668,000 | $1.6M |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | Sold out | 1,574,000 | $1.6Mbefore exit |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | Add +143.4% | 1,307,000 | $1.3M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Add +200.9% | 996,000 | $1.1M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +32.6% | 975,000 | $1.0M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Add +171.6% | 649,000 | $965K |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | New | 815,000 | $778K |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | New | 762,000 | $695K |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +100.0% | 650,000 | $685K |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | New | 1,000,000 | $620K |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Add +38.2% | 615,000 | $581K |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Reduce -48.6% | 565,000 | $563K |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -90.8% | 585,000 | $557K |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | New | 650,000 | $554K |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | Reduce -50.8% | 572,000 | $548K |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Sold out | 587,000 | $543Kbefore exit |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | New | 535,000 | $520K |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | New | 341,000 | $454K |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 250,000 | $449K |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Sold out | 365,000 | $416Kbefore exit |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Reduce -42.5% | 371,000 | $376K |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 376,000 | $369Kbefore exit |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 245,000 | $325Kbefore exit |
Showing the first 50 of 54.
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 | 16 | $5.5B | BTSG, HSIC, BBIO, BV, CRGY |
| Q1 2026 | 14 | $5.1B | BTSG, HSIC, BBIO, CRGY, NIQ |
| Q4 2025 | 14 | $5.9B | BTSG, HSIC, BBIO, NIQ, BV |
| Q3 2025 | 16 | $5.6B | BTSG, HSIC, BBIO, NIQ, PSKY |
| Q2 2025 | 13 | $4.4B | BTSG, HSIC, BBIO, BV, CRGY |
| Q1 2025 | 13 | $3.9B | BTSG, HSIC, BBIO, BV, KREF |
| Q4 2024 | 10 | $3.1B | BTSG, BBIO, BV, KREF, DASH |
| Q3 2024 | 13 | $6.8B | OS, BTSG, BBIO, BV, PGRU |
| Q2 2024 | 14 | $2.7B | BTSG, BBIO, BV, PGRU, KREF |
| Q1 2024 | 15 | $3.3B | BBIO, BTSG, BV, PGRU, TGAN |