Kohlberg Kravis Roberts & Co. L.P.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Kohlberg Kravis Roberts & Co. L.P. reported 14 stock positions worth $5.9 billion. Its top holding was Brightspring Health Services (BTSG) at 39.5% of the portfolio, followed by Henry Schein (HSIC, 20.2%) and Bridgebio Pharma (BBIO, 17.3%). Compared with Q3 2025, it sold out of 2 and reduced 2. The biggest sale was Paramount Skydance Class B (PSKY, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001399770
- Portfolio Value
- $5.9B (Q4 2025)
- SEC Filing
- 0001399770-26-000005 ↗ filed Feb 17, 2026
Holdings Value
Holdings 14 stocks · $5.9B
| BTSG Brightspring Health Services | 39.54% | 61,942,032 | $2.3B | Reduce -19.7% |
| HSIC Henry Schein Inc. | 20.16% | 15,652,032 | $1.2B | No change |
| BBIO Bridgebio Pharma Inc. | 17.29% | 13,260,971 | $1.0B | No change |
| NIQ Niq Global Intelligence PLC | 8.44% | 30,022,789 | $495.1M | No change |
| BV Brightview Holdings Inc. | 4.71% | 21,533,123 | $276.5M | No change |
| CRGY Crescent Energy Inc. Class A | 3.83% | 26,758,127 | $224.5M | No change |
| PSKY Paramount Skydance Class B | 1.95% | 8,535,928 | $114.4M | Reduce -45.4% |
| KREF KKR Real Estate Finance Trus | 1.41% | 10,000,001 | $82.8M | No change |
| MSGS Madison Square Garden Sports | 1.34% | 305,068 | $78.9M | No change |
| BHC Bausch Health Cos Inc. | 0.62% | 5,235,000 | $36.4M | No change |
| NCLH Norwegian Cruise Line Holdin | 0.27% | 719,004 | $16.0M | No change |
| FSK FS KKR Capital Corp. | 0.25% | 980,587 | $14.5M | No change |
| TEM Tempus AI Inc. Class A | 0.12% | 117,652 | $6.9M | No change |
| CHRS Coherus Oncology Inc. | 0.07% | 3,036,076 | $4.2M | No change |
Other holdings (77): bonds, preferreds, convertibles and warrants · $387.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 92,172,000 | $90.7M | Reduce -24.3% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 12,221,000 | $41.1M | Reduce -5.4% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 31,237,000 | $30.8M | Add +0.6% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 24,139,000 | $23.3M | Add +6089.5% |
| IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 23,385,000 | $21.3M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 20,011,000 | $20.0M | New |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 13,085,000 | $18.6M | No change |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 15,181,000 | $15.3M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 10,805,000 | $11.9M | No change |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 10,626,000 | $10.0M | Add +3.4% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 8,000,000 | $9.3M | No change |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 6,900,000 | $6.3M | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 5,697,000 | $5.4M | Reduce -5.7% |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 4,095,000 | $4.5M | New |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 4,542,000 | $4.5M | New |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 2,563,000 | $4.0M | Reduce -4.5% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 3,600,000 | $3.6M | No change |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 3,164,000 | $3.0M | Add +15.8% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 1,995,000 | $2.8M | No change |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 3,447,000 | $2.8M | No change |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 2,648,000 | $2.6M | No change |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 2,447,000 | $2.4M | Add +22.4% |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 2,399,000 | $2.2M | Add +33.0% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,254,000 | $2.1M | Reduce -19.4% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 1,649,000 | $2.1M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 2,000,000 | $2.1M | Add +49.3% |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 2,000,000 | $2.0M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 1,455,000 | $1.9M | No change |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 1,904,000 | $1.8M | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,615,000 | $1.8M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 1,058,000 | $1.5M | No change |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 1,405,000 | $1.5M | New |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 1,494,000 | $1.5M | Reduce -40.1% |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 745,000 | $1.4M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 465,000 | $1.3M | No change |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 760,000 | $1.2M | Reduce -44.7% |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 1,086,000 | $1.2M | Add +21.3% |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | 990,000 | $1.2M | New |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 1,160,000 | $1.2M | New |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 1,152,000 | $1.1M | No change |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 1,036,000 | $1.1M | Reduce -21.3% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 1,041,000 | $1.1M | Reduce -49.6% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 915,000 | $990K | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 808,000 | $928K | Add +53.0% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 539,000 | $917K | Reduce -60.3% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 892,000 | $846K | No change |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 180,000 | $826K | Reduce -45.5% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 826,000 | $824K | No change |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 870,000 | $802K | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 745,000 | $775K | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 800,000 | $770K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 805,000 | $759K | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 765,000 | $758K | No change |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 855,000 | $749K | No change |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 752,000 | $719K | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 711,000 | $703K | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 531,000 | $673K | No change |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 705,000 | $673K | No change |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 600,000 | $634K | Reduce -87.0% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 244,000 | $631K | Reduce -72.7% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 450,000 | $630K | No change |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 285,000 | $619K | No change |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 375,000 | $616K | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 414,000 | $586K | No change |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 565,000 | $580K | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 630,000 | $567K | No change |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 375,000 | $558K | Reduce -34.8% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 534,000 | $513K | No change |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 460,000 | $484K | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 505,000 | $465K | No change |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 250,000 | $400K | New |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 350,000 | $380K | New |
| FLUENCE ENERGY INC (FLNC 2.25 06/15/30) | NOTE 2.250% 6/1 · principal | 310,000 | $376K | New |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 320,000 | $339K | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 265,000 | $255K | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 240,000 | $236K | New |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 200,000 | $201K | New |
Total filed on the 13F, all lines: $6.3B.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| None this quarter. | |||
Notes & Other Activity Q3 2025 → Q4 2025
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Reduce -24.3% | 92,172,000 | $90.7M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Reduce -5.4% | 12,221,000 | $41.1M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Add +0.6% | 31,237,000 | $30.8M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Add +6089.5% | 24,139,000 | $23.3M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 21,886,000 | $21.7Mbefore exit |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | New | 20,011,000 | $20.0M |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | Add +3.4% | 10,626,000 | $10.0M |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Sold out | 6,996,000 | $6.9Mbefore exit |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Sold out | 5,000,000 | $5.6Mbefore exit |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Reduce -5.7% | 5,697,000 | $5.4M |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | New | 4,095,000 | $4.5M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | New | 4,542,000 | $4.5M |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | Reduce -4.5% | 2,563,000 | $4.0M |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | Sold out | 3,471,000 | $3.4Mbefore exit |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | Sold out | 3,053,000 | $3.0Mbefore exit |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | Add +15.8% | 3,164,000 | $3.0M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Add +22.4% | 2,447,000 | $2.4M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | Add +33.0% | 2,399,000 | $2.2M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -19.4% | 2,254,000 | $2.1M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +49.3% | 2,000,000 | $2.1M |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | New | 2,000,000 | $2.0M |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 1,904,000 | $1.8M |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | New | 1,405,000 | $1.5M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Reduce -40.1% | 1,494,000 | $1.5M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | Sold out | 1,500,000 | $1.5Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Reduce -44.7% | 760,000 | $1.2M |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | Add +21.3% | 1,086,000 | $1.2M |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | New | 990,000 | $1.2M |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | New | 1,160,000 | $1.2M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -21.3% | 1,036,000 | $1.1M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Reduce -49.6% | 1,041,000 | $1.1M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +53.0% | 808,000 | $928K |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Reduce -60.3% | 539,000 | $917K |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -45.5% | 180,000 | $826K |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | New | 870,000 | $802K |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Reduce -87.0% | 600,000 | $634K |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Reduce -72.7% | 244,000 | $631K |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Sold out | 260,000 | $628Kbefore exit |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | Reduce -34.8% | 375,000 | $558K |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | New | 460,000 | $484K |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | New | 250,000 | $400K |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 350,000 | $380K |
| FLUENCE ENERGY INC (FLNC 2.25 06/15/30) | NOTE 2.250% 6/1 · principal | New | 310,000 | $376K |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | New | 320,000 | $339K |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | New | 240,000 | $236K |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | New | 200,000 | $201K |
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 |