Partners Group Holding AG
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Partners Group Holding AG reported 43 stock positions worth $2.4 billion. Its top holding was Kindercare Learning Cos (KLC) at 39.5% of the portfolio, followed by Clarivate (4.2%) and Apollo Global Management (APO, 3.4%). Compared with Q4 2024, it opened 3 new positions, sold out of 4, added to 24 and reduced 8. The biggest buy was a new position in Clarivate and the biggest sale an exit from Clarivate (CLVT).
- Most Recent 13F
- Q2 2026
- Location
- BAAR-ZUG, V8
- CIK
- 0001534259
- Portfolio Value
- $2.4B (Q1 2025)
- SEC Filing
- 0001213900-25-042558 ↗ filed May 13, 2025
Holdings Value
Holdings 43 stocks · $2.4B
| KLC Kindercare Learning Cos Inc. | 39.49% | 81,418,736 | $943.6M | No change |
| CLARIVATE PLC | 4.21% | 25,583,059 | $100.5M | New |
| APO Apollo Global Management Inc. | 3.45% | 601,157 | $82.3M | Add +7.5% |
| AMT American Tower Corp. | 3.40% | 373,669 | $81.3M | Reduce -1.3% |
| AWK American Water Works Co. Inc. | 2.87% | 464,433 | $68.5M | Add +3.4% |
| RSG Republic Services Inc. | 2.52% | 248,974 | $60.3M | Reduce -10.9% |
| UNP Union Pacific Corp. | 2.47% | 250,048 | $59.1M | Reduce -4.0% |
| KKR KKR & Co. Inc. | 2.39% | 494,616 | $57.2M | Add +32.6% |
| ATO Atmos Energy Corp. | 2.37% | 366,542 | $56.7M | Add +32.4% |
| ARES Ares Management Corp. Class A | 2.37% | 386,336 | $56.6M | Add +53.6% |
| CMS CMS Energy Corp. | 2.14% | 682,096 | $51.2M | Add +3.7% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.06% | 4,796,686 | $49.1M | No change |
| BX Blackstone Inc. | 2.05% | 351,050 | $49.1M | Add +31.4% |
| WMB Williams Cos Inc. | 1.98% | 791,331 | $47.3M | Add +0.8% |
| CNI Canadian Natl Railway Co. | 1.98% | 479,117 | $47.2M | Add +19.3% |
| WM Waste Management Inc. | 1.81% | 186,350 | $43.1M | Add +3.9% |
| EQIX Equinix Inc. | 1.77% | 51,787 | $42.2M | Add +10.6% |
| SRE Sempra | 1.64% | 548,110 | $39.1M | Add +114.1% |
| ARCC Ares Capital Corp. | 1.53% | 1,652,729 | $36.6M | Add +3.5% |
| FER Ferrovial NV | 1.53% | 814,168 | $36.6M | Add +2.3% |
| SBAC SBA Communications Corp. | 1.52% | 164,641 | $36.2M | Add +11.1% |
| TRP TC Energy Corp. | 1.50% | 748,084 | $35.8M | Add +22.9% |
| BN Brookfield Corp. | 1.46% | 666,869 | $35.0M | Add +31.5% |
| CSX CSX Corp. | 1.45% | 1,177,776 | $34.7M | Reduce -0.4% |
| ADT Adt Inc. | 1.37% | 4,015,484 | $32.7M | No change |
| CCI Crown Castle Inc. | 1.35% | 309,368 | $32.2M | Add +3.5% |
| GBDC Golub Capital BDC Inc. | 1.27% | 2,000,926 | $30.3M | Add +9.9% |
| TPG TPG Inc. | 1.05% | 528,824 | $25.1M | Add +53.2% |
| ODFL Old Dominion Freight Line | 0.89% | 129,114 | $21.4M | Add +26.9% |
| Global Blue Group Holding AG | 0.85% | 2,771,206 | $20.4M | New |
| OWL Blue Owl Capital Inc. | 0.75% | 898,281 | $18.0M | Add +15.0% |
| CG The Carlyle Group Inc. | 0.56% | 306,496 | $13.4M | Reduce -10.0% |
| ENB Enbridge Inc. | 0.54% | 288,946 | $12.9M | Reduce -3.5% |
| ARCB Arcbest Corp. | 0.35% | 119,679 | $8.4M | Add +52.0% |
| LTH Life Time Group Holdings Inc. | 0.35% | 277,777 | $8.4M | No change |
| OBDC Blue Owl Capital Corp. | 0.28% | 452,976 | $6.6M | Add +34.5% |
| KMI Kinder Morgan Inc. | 0.24% | 198,843 | $5.7M | Reduce -7.3% |
| TEM Tempus AI Inc. Class A | 0.08% | 40,398 | $1.9M | New |
| NEUE Neuehealth Inc. | 0.03% | 88,645 | $599K | No change |
| FTS Fortis Inc. | 0.02% | 12,364 | $570K | No change |
| EPD Enterprise Products Partners | 0.02% | 16,657 | $569K | No change |
| ET Energy Transfer LP | 0.02% | 23,272 | $433K | Reduce -4.4% |
| PBA Pembina Pipeline Corp. | 0.02% | 9,270 | $375K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| CLVT Clarivate PLC | Sold out | 0.00% | −4.65 |
| GB Global Blue Group Holding AG | Sold out | 0.00% | −0.69 |
| FSK FS KKR Capital Corp. | Sold out | 0.00% | −0.21 |
| CG The Carlyle Group Inc. | Reduce -10.0% | 0.56% | −0.06 |
| S Sentinelone Inc. Class A | Sold out | 0.00% | −0.02 |
| ET Energy Transfer LP | Reduce -4.4% | 0.02% | +0.00 |
| KMI Kinder Morgan Inc. | Reduce -7.3% | 0.24% | +0.03 |
| CSX CSX Corp. | Reduce -0.4% | 1.45% | +0.09 |
| ENB Enbridge Inc. | Reduce -3.5% | 0.54% | +0.09 |
| UNP Union Pacific Corp. | Reduce -4.0% | 2.47% | +0.35 |
| RSG Republic Services Inc. | Reduce -10.9% | 2.52% | +0.51 |
| AMT American Tower Corp. | Reduce -1.3% | 3.40% | +0.92 |
Portfolio Buys Q4 2024 → Q1 2025
| CLARIVATE PLC | New | 4.21% | +4.21 |
| ATO Atmos Energy Corp. | Add +32.4% | 2.37% | +0.99 |
| AWK American Water Works Co. Inc. | Add +3.4% | 2.87% | +0.87 |
| Global Blue Group Holding AG | New | 0.85% | +0.85 |
| SRE Sempra | Add +114.1% | 1.64% | +0.83 |
| ARES Ares Management Corp. Class A | Add +53.6% | 2.37% | +0.78 |
| CMS CMS Energy Corp. | Add +3.7% | 2.14% | +0.57 |
| CNI Canadian Natl Railway Co. | Add +19.3% | 1.98% | +0.51 |
| WM Waste Management Inc. | Add +3.9% | 1.81% | +0.51 |
| TRP TC Energy Corp. | Add +22.9% | 1.50% | +0.48 |
| WMB Williams Cos Inc. | Add +0.8% | 1.98% | +0.46 |
| SBAC SBA Communications Corp. | Add +11.1% | 1.52% | +0.43 |
| BN Brookfield Corp. | Add +31.5% | 1.46% | +0.42 |
| KKR KKR & Co. Inc. | Add +32.6% | 2.39% | +0.42 |
| BX Blackstone Inc. | Add +31.4% | 2.05% | +0.41 |
| CCI Crown Castle Inc. | Add +3.5% | 1.35% | +0.38 |
| FER Ferrovial NV | Add +2.3% | 1.53% | +0.33 |
| ARCC Ares Capital Corp. | Add +3.5% | 1.53% | +0.28 |
| GBDC Golub Capital BDC Inc. | Add +9.9% | 1.27% | +0.28 |
| TPG TPG Inc. | Add +53.2% | 1.05% | +0.27 |
| ODFL Old Dominion Freight Line | Add +26.9% | 0.89% | +0.25 |
| EQIX Equinix Inc. | Add +10.6% | 1.77% | +0.19 |
| APO Apollo Global Management Inc. | Add +7.5% | 3.45% | +0.14 |
| OWL Blue Owl Capital Inc. | Add +15.0% | 0.75% | +0.10 |
| OBDC Blue Owl Capital Corp. | Add +34.5% | 0.28% | +0.10 |
| ARCB Arcbest Corp. | Add +52.0% | 0.35% | +0.09 |
| TEM Tempus AI Inc. Class A | New | 0.08% | +0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 52 | $1.5B | KLC, APO, ARES, CLVT, BN |
| Q1 2026 | 50 | $1.4B | KLC, APO, CLVT, ARES, BN |
| Q4 2025 | 49 | $1.5B | KLC, CLARIVATE PLC, APO, ARES, BN |
| Q3 2025 | 38 | $1.8B | KLC, CLARIVATE PLC, APO, NU, BN |
| Q2 2025 | 40 | $2.1B | KLC, CLARIVATE PLC, APO, AMT, ARES |
| Q1 2025 | 43 | $2.4B | KLC, CLARIVATE PLC, APO, AMT, AWK |
| Q4 2024 | 44 | $2.8B | KLC, CLVT, APO, AMT, UNP |
| Q3 2024 | 41 | $1.6B | CLVT, APO, NUVVE HOLDING CORP, AMT, KKR |
| Q2 2024 | 46 | $1.3B | CLVT, AON, NU, APO, AMT |
| Q1 2024 | 47 | $1.1B | CLARIVATE PLC, NU, AMT, KKR, APO |