Partners Group Holding AG
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Partners Group Holding AG reported 40 stock positions worth $2.1 billion. Its top holding was Kindercare Learning Cos (KLC) at 38.7% of the portfolio, followed by Clarivate (5.2%) and Apollo Global Management (APO, 4.2%). Compared with Q1 2025, it opened 2 new positions, sold out of 5, added to 9 and reduced 22. The biggest buy was Blue Owl Capital (OWL, shares +99%) and the biggest sale Nu Holdings Ltd./Cayman Isl-A (NU, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- BAAR-ZUG, V8
- CIK
- 0001534259
- Portfolio Value
- $2.1B (Q2 2025)
- SEC Filing
- 0001213900-25-071930 ↗ filed Aug 5, 2025
Holdings Value
Holdings 40 stocks · $2.1B
| KLC Kindercare Learning Cos Inc. | 38.66% | 81,418,736 | $822.3M | No change |
| CLARIVATE PLC | 5.17% | 25,583,059 | $110.0M | No change |
| APO Apollo Global Management Inc. | 4.19% | 628,770 | $89.2M | Add +4.6% |
| AMT American Tower Corp. | 3.44% | 331,374 | $73.2M | Reduce -11.3% |
| ARES Ares Management Corp. Class A | 2.88% | 353,510 | $61.2M | Reduce -8.5% |
| KKR KKR & Co. Inc. | 2.83% | 452,913 | $60.3M | Reduce -8.4% |
| AWK American Water Works Co. Inc. | 2.73% | 417,923 | $58.1M | Reduce -10.0% |
| BX Blackstone Inc. | 2.50% | 355,802 | $53.2M | Add +1.4% |
| RSG Republic Services Inc. | 2.44% | 210,674 | $52.0M | Reduce -15.4% |
| ATO Atmos Energy Corp. | 2.34% | 323,145 | $49.8M | Reduce -11.8% |
| UNP Union Pacific Corp. | 2.32% | 214,152 | $49.3M | Reduce -14.4% |
| WMB Williams Cos Inc. | 2.26% | 764,243 | $48.0M | Reduce -3.4% |
| CNI Canadian Natl Railway Co. | 2.05% | 418,381 | $43.5M | Reduce -12.7% |
| CMS CMS Energy Corp. | 1.99% | 611,962 | $42.4M | Reduce -10.3% |
| BN Brookfield Corp. | 1.91% | 655,233 | $40.5M | Reduce -1.7% |
| WM Waste Management Inc. | 1.76% | 163,898 | $37.5M | Reduce -12.1% |
| ARCC Ares Capital Corp. | 1.74% | 1,686,269 | $37.0M | Add +2.0% |
| EQIX Equinix Inc. | 1.73% | 46,220 | $36.8M | Reduce -10.8% |
| SRE Sempra | 1.66% | 464,706 | $35.2M | Reduce -15.2% |
| FER Ferrovial NV | 1.64% | 657,502 | $34.9M | Reduce -19.2% |
| OWL Blue Owl Capital Inc. | 1.62% | 1,790,863 | $34.4M | Add +99.4% |
| SBAC SBA Communications Corp. | 1.50% | 136,298 | $32.0M | Reduce -17.2% |
| CCI Crown Castle Inc. | 1.35% | 279,929 | $28.8M | Reduce -9.5% |
| TPG TPG Inc. | 1.26% | 512,183 | $26.9M | Reduce -3.1% |
| CSX CSX Corp. | 1.23% | 801,430 | $26.2M | Reduce -31.9% |
| ODFL Old Dominion Freight Line | 1.23% | 160,661 | $26.1M | Add +24.4% |
| TRP TC Energy Corp. | 1.19% | 517,576 | $25.2M | Reduce -30.8% |
| ADT Adt Inc. | 0.99% | 2,498,003 | $21.2M | Reduce -37.8% |
| Global Blue Group Holding AG | 0.97% | 2,771,206 | $20.7M | No change |
| ENB Enbridge Inc. | 0.66% | 309,292 | $14.0M | Add +7.0% |
| ARCB Arcbest Corp. | 0.53% | 147,476 | $11.4M | Add +23.2% |
| LTH Life Time Group Holdings Inc. | 0.40% | 277,777 | $8.4M | No change |
| XPO Xpo Inc. | 0.34% | 57,563 | $7.3M | New |
| KMI Kinder Morgan Inc. | 0.27% | 198,843 | $5.8M | No change |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.10% | 154,279 | $2.1M | Reduce -96.8% |
| NEUE Neuehealth Inc. | 0.03% | 88,645 | $612K | No change |
| EPD Enterprise Products Partners | 0.03% | 19,324 | $599K | Add +16.0% |
| ET Energy Transfer LP | 0.02% | 25,810 | $468K | Add +10.9% |
| PBA Pembina Pipeline Corp. | 0.02% | 9,270 | $347K | No change |
| OKE Oneok Inc. | 0.01% | 2,470 | $202K | New |
Portfolio Sells Q1 2025 → Q2 2025
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -96.8% | 0.10% | −1.96 |
| GBDC Golub Capital BDC Inc. | Sold out | 0.00% | −1.27 |
| CG The Carlyle Group Inc. | Sold out | 0.00% | −0.56 |
| ADT Adt Inc. | Reduce -37.8% | 0.99% | −0.37 |
| TRP TC Energy Corp. | Reduce -30.8% | 1.19% | −0.31 |
| OBDC Blue Owl Capital Corp. | Sold out | 0.00% | −0.28 |
| CSX CSX Corp. | Reduce -31.9% | 1.23% | −0.22 |
| UNP Union Pacific Corp. | Reduce -14.4% | 2.32% | −0.16 |
| CMS CMS Energy Corp. | Reduce -10.3% | 1.99% | −0.15 |
| AWK American Water Works Co. Inc. | Reduce -10.0% | 2.73% | −0.13 |
| TEM Tempus AI Inc. Class A | Sold out | 0.00% | −0.08 |
| RSG Republic Services Inc. | Reduce -15.4% | 2.44% | −0.08 |
| WM Waste Management Inc. | Reduce -12.1% | 1.76% | −0.04 |
| EQIX Equinix Inc. | Reduce -10.8% | 1.73% | −0.04 |
| ATO Atmos Energy Corp. | Reduce -11.8% | 2.34% | −0.03 |
| FTS Fortis Inc. | Sold out | 0.00% | −0.02 |
| SBAC SBA Communications Corp. | Reduce -17.2% | 1.50% | −0.01 |
| CCI Crown Castle Inc. | Reduce -9.5% | 1.35% | +0.00 |
| SRE Sempra | Reduce -15.2% | 1.66% | +0.02 |
| AMT American Tower Corp. | Reduce -11.3% | 3.44% | +0.04 |
| CNI Canadian Natl Railway Co. | Reduce -12.7% | 2.05% | +0.07 |
| FER Ferrovial NV | Reduce -19.2% | 1.64% | +0.11 |
| TPG TPG Inc. | Reduce -3.1% | 1.26% | +0.21 |
| WMB Williams Cos Inc. | Reduce -3.4% | 2.26% | +0.28 |
| KKR KKR & Co. Inc. | Reduce -8.4% | 2.83% | +0.44 |
| BN Brookfield Corp. | Reduce -1.7% | 1.91% | +0.44 |
| ARES Ares Management Corp. Class A | Reduce -8.5% | 2.88% | +0.51 |
Portfolio Buys Q1 2025 → Q2 2025
| OWL Blue Owl Capital Inc. | Add +99.4% | 1.62% | +0.86 |
| APO Apollo Global Management Inc. | Add +4.6% | 4.19% | +0.75 |
| BX Blackstone Inc. | Add +1.4% | 2.50% | +0.45 |
| XPO Xpo Inc. | New | 0.34% | +0.34 |
| ODFL Old Dominion Freight Line | Add +24.4% | 1.23% | +0.33 |
| ARCC Ares Capital Corp. | Add +2.0% | 1.74% | +0.21 |
| ARCB Arcbest Corp. | Add +23.2% | 0.53% | +0.18 |
| ENB Enbridge Inc. | Add +7.0% | 0.66% | +0.12 |
| OKE Oneok Inc. | New | 0.01% | +0.01 |
| EPD Enterprise Products Partners | Add +16.0% | 0.03% | +0.00 |
| ET Energy Transfer LP | Add +10.9% | 0.02% | +0.00 |
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 |