Kohlberg Kravis Roberts & Co. L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Kohlberg Kravis Roberts & Co. L.P. reported 16 stock positions worth $5.6 billion. Its top holding was Brightspring Health Services (BTSG) at 41.0% of the portfolio, followed by Henry Schein (HSIC, 18.7%) and Bridgebio Pharma (BBIO, 12.4%). Compared with Q2 2025, it opened 3 new positions and reduced 3. The biggest buy was a new position in Niq Global Intelligence (NIQ) and the biggest sale Brightspring Health Services (BTSG, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001399770
- Portfolio Value
- $5.6B (Q3 2025)
- SEC Filing
- 0001463931-25-000021 ↗ filed Nov 14, 2025
Holdings Value
Holdings 16 stocks · $5.6B
| BTSG Brightspring Health Services | 40.95% | 77,096,337 | $2.3B | Reduce 0.0% |
| HSIC Henry Schein Inc. | 18.67% | 15,652,032 | $1.0B | No change |
| BBIO Bridgebio Pharma Inc. | 12.38% | 13,260,971 | $688.8M | No change |
| NIQ Niq Global Intelligence PLC | 8.47% | 30,022,789 | $471.4M | New |
| PSKY Paramount Skydance Class B | 5.32% | 15,635,842 | $295.8M | New |
| BV Brightview Holdings Inc. | 5.23% | 21,533,123 | $291.2M | No change |
| CRGY Crescent Energy Inc. Class A | 4.29% | 26,758,127 | $238.7M | No change |
| KREF KKR Real Estate Finance Trus | 1.62% | 10,000,001 | $90.0M | No change |
| MSGS Madison Square Garden Sports | 1.24% | 305,068 | $69.3M | No change |
| BHC Bausch Health Cos Inc. | 0.61% | 5,235,000 | $33.8M | No change |
| DEC Diversified Energy Co. PLC | 0.37% | 1,480,771 | $20.7M | Reduce -29.7% |
| NCLH Norwegian Cruise Line Holdin | 0.32% | 719,004 | $17.7M | Reduce -13.5% |
| FSK FS KKR Capital Corp. | 0.26% | 980,587 | $14.6M | No change |
| TEM Tempus AI Inc. Class A | 0.17% | 117,652 | $9.5M | New |
| CHRS Coherus Oncology Inc. | 0.09% | 3,036,076 | $4.9M | No change |
| INSM Insmed Inc. | 0.01% | 3,284 | $473K | No change |
Other holdings (69): bonds, preferreds, convertibles and warrants · $402.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 121,826,000 | $118.9M | Reduce -11.2% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 12,921,000 | $37.2M | Add +123.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 31,055,000 | $30.3M | Add +12.0% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 21,886,000 | $21.7M | New |
| IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 23,385,000 | $21.2M | Add +3.8% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 13,085,000 | $16.8M | Add +27.4% |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 15,181,000 | $15.4M | Reduce -5.0% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 10,805,000 | $12.3M | Add +6.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 8,000,000 | $9.8M | New |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 10,276,000 | $9.5M | No change |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 6,996,000 | $6.9M | Add +22.6% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 6,900,000 | $6.2M | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 6,038,000 | $5.7M | Add +2.0% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 5,000,000 | $5.6M | New |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | 5,000,000 | $4.9M | New |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 4,600,000 | $4.8M | Reduce -23.3% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 2,685,000 | $4.2M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 3,600,000 | $3.7M | No change |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 3,471,000 | $3.4M | Reduce -9.9% |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | 3,053,000 | $3.0M | New |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 3,447,000 | $3.0M | Add +22.4% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 2,494,000 | $2.9M | Reduce -64.6% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 2,648,000 | $2.7M | Add +58.8% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,798,000 | $2.6M | Reduce -17.7% |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 2,733,000 | $2.5M | Reduce -4.3% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 1,995,000 | $2.3M | Add +144.8% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,615,000 | $2.2M | Add +34.0% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 1,359,000 | $2.2M | Add +109.4% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 894,000 | $2.2M | No change |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 2,066,000 | $2.1M | Add +63.8% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 2,000,000 | $2.0M | No change |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 1,804,000 | $1.9M | New |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 1,375,000 | $1.9M | Add +111.5% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 1,649,000 | $1.8M | Reduce -3.8% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 1,455,000 | $1.7M | New |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 1,058,000 | $1.7M | Add +39.6% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 1,340,000 | $1.5M | Add +37.4% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 1,500,000 | $1.5M | New |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 1,316,000 | $1.5M | Add +32.1% |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 1,152,000 | $1.1M | Reduce -11.9% |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 895,000 | $1.1M | New |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 330,000 | $1.1M | Add +32.0% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 915,000 | $1.1M | Add +46.4% |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 745,000 | $972K | New |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 575,000 | $836K | New |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 892,000 | $831K | Add +17.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 826,000 | $828K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 805,000 | $760K | Add +30.9% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 800,000 | $757K | Reduce -38.5% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 752,000 | $738K | Add +31.5% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 855,000 | $735K | Add +31.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 765,000 | $719K | Add +30.8% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 531,000 | $705K | Add +55.7% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 711,000 | $703K | Add +41.9% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 745,000 | $691K | New |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 705,000 | $678K | Add +31.8% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 465,000 | $649K | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 260,000 | $628K | New |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 450,000 | $620K | New |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 630,000 | $578K | Add +215.0% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 565,000 | $571K | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 528,000 | $557K | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 414,000 | $536K | Reduce -30.3% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 375,000 | $521K | New |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 534,000 | $508K | Reduce -63.9% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 505,000 | $461K | Add +34.7% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 390,000 | $392K | New |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 285,000 | $380K | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 265,000 | $261K | New |
Total filed on the 13F, all lines: $6.0B.
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
Notes & Other Activity Q2 2025 → Q3 2025
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Sold out | 140,491,400 | $138.4Mbefore exit |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Reduce -11.2% | 121,826,000 | $118.9M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +123.5% | 12,921,000 | $37.2M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Add +12.0% | 31,055,000 | $30.3M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | New | 21,886,000 | $21.7M |
| IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | Add +3.8% | 23,385,000 | $21.2M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Add +27.4% | 13,085,000 | $16.8M |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | Reduce -5.0% | 15,181,000 | $15.4M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Add +6.3% | 10,805,000 | $12.3M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | New | 8,000,000 | $9.8M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Sold out | 6,500,000 | $8.5Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Add +22.6% | 6,996,000 | $6.9M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Add +2.0% | 6,038,000 | $5.7M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 5,000,000 | $5.6M |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | New | 5,000,000 | $4.9M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Reduce -23.3% | 4,600,000 | $4.8M |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | New | 2,685,000 | $4.2M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 3,500,000 | $4.0Mbefore exit |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | Reduce -9.9% | 3,471,000 | $3.4M |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | New | 3,053,000 | $3.0M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Add +22.4% | 3,447,000 | $3.0M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Reduce -64.6% | 2,494,000 | $2.9M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | Add +58.8% | 2,648,000 | $2.7M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -17.7% | 2,798,000 | $2.6M |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | Reduce -4.3% | 2,733,000 | $2.5M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | Sold out | 2,000,000 | $2.3Mbefore exit |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | Add +144.8% | 1,995,000 | $2.3M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +34.0% | 1,615,000 | $2.2M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Add +109.4% | 1,359,000 | $2.2M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Add +63.8% | 2,066,000 | $2.1M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | New | 1,804,000 | $1.9M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +111.5% | 1,375,000 | $1.9M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Reduce -3.8% | 1,649,000 | $1.8M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | New | 1,455,000 | $1.7M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +39.6% | 1,058,000 | $1.7M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Sold out | 1,092,000 | $1.6Mbefore exit |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +37.4% | 1,340,000 | $1.5M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | New | 1,500,000 | $1.5M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Add +32.1% | 1,316,000 | $1.5M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Sold out | 1,380,000 | $1.3Mbefore exit |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | Reduce -11.9% | 1,152,000 | $1.1M |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | New | 895,000 | $1.1M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +32.0% | 330,000 | $1.1M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Add +46.4% | 915,000 | $1.1M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Sold out | 972,000 | $985Kbefore exit |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | New | 745,000 | $972K |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Sold out | 874,000 | $875Kbefore exit |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | New | 575,000 | $836K |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | Add +17.1% | 892,000 | $831K |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Add +30.9% | 805,000 | $760K |
Showing the first 50 of 75.
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 |