In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), TPG GP A, LLC reported 27 stock positions worth $5.0 billion . Its top holding was Lifestance Health (LFST) at 21.6% of the portfolio, followed by Life Time (LTH, 18.1% ) and Viking (VIK, 17.2% ). Compared with Q4 2024, it opened 2 new positions, sold out of 6, added to 6 and reduced 11. The biggest buy was a new position in Sotera Health (SHC) and the biggest sale Viking (VIK, shares −35% ).
Location FORT WORTH, TX
CIK 0001903793
Portfolio Value $5.0B (Q1 2025) Holdings 27 stocks · $5.0B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 LFST Lifestance Health Group Inc. 160,711,618 $1.1B No change LTH Life Time Group Holdings Inc. 29,748,906 $898.4M Reduce -19.2% VIK Viking Holdings Ltd. 21,438,949 $852.2M Reduce -34.8% TTAN Servicetitan Inc. Class A 5,107,469 $485.8M No change PEGA Pegasystems Inc. 2,022,733 $140.6M Add +4.3% WAY Waystar Holding Corp. 3,543,270 $132.4M Reduce -13.5% MTN Vail Resorts Inc. 718,869 $115.0M Reduce -30.6% LNG Cheniere Energy Inc. 496,843 $115.0M Reduce -32.8% ENTG Entegris Inc. 1,193,431 $104.4M Add +2.2% AMRX Amneal Pharmaceuticals Inc. 12,328,767 $103.3M No change SHC Sotera Health Co. 6,786,110 $79.1M New CBLL Ceribell Inc. 3,967,422 $76.2M No change UNH Unitedhealth Group Inc. 144,948 $75.9M Add +2.3% AMZN Amazon.com Inc. 396,110 $75.4M Add +12.1% FERG Ferguson Enterprises Inc. 464,941 $74.5M Reduce -18.6% CCC CCC Intelligent Solutions Ho 7,988,284 $72.1M Add +95.5% SION Sionna Therapeutics Inc. 6,684,962 $69.9M New CMCSA Comcast Corp. Class A 1,698,667 $62.7M Add +18.1% AMT American Tower Corp. 275,589 $60.0M Reduce -0.5% TRTX TPG Re Finance Trust Inc. 7,086,779 $57.8M No change LYV Live Nation Entertainment Inc. 413,744 $54.0M Reduce -41.0% FWONA Liberty Media Corp. Class A 501,606 $40.9M Reduce -2.0% BRSL Brightstar Lottery PLC filed as INTERNATIONAL GAME TECHNOLOG 2,433,918 $39.6M Reduce -21.1% BCAX Bicara Therapeutics Inc. 3,010,425 $39.2M No change FWONK Liberty Media Corp. Class C 367,551 $33.1M Reduce -22.3% ALLO Allogene Therapeutics Inc. 18,716,306 $27.3M No change RLYB Rallybio Corp. 3,028,414 $2.0M No change
Options reported separately and not counted above: MCD puts ($113.5M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ VIK Viking Holdings Ltd. Reduce -34.8% 17.19% −6.17 PGNY Progyny Inc. Sold out 0.00% −1.91 NXT Nextpower Inc. Sold out 0.00% −1.76 FRSH Freshworks Inc. Class A Sold out 0.00% −1.13 LW Lamb Weston Holdings Inc. Sold out 0.00% −1.06 HDB HDFC Bank Ltd.-ADR Sold out 0.00% −0.99 MTN Vail Resorts Inc. Reduce -30.6% 2.32% −0.81 LYV Live Nation Entertainment Inc. Reduce -41.0% 1.09% −0.37 LNG Cheniere Energy Inc. Reduce -32.8% 2.32% −0.24 SNN Smith & Nephew PLC -Spon ADR Sold out 0.00% −0.18 FERG Ferguson Enterprises Inc. Reduce -18.6% 1.50% −0.10 BRSL Brightstar Lottery PLC Reduce -21.1% 0.80% −0.08 FWONK Liberty Media Corp. Class C Reduce -22.3% 0.67% −0.04 FWONA Liberty Media Corp. Class A Reduce -2.0% 0.82% +0.13 WAY Waystar Holding Corp. Reduce -13.5% 2.67% +0.24 AMT American Tower Corp. Reduce -0.5% 1.21% +0.39 LTH Life Time Group Holdings Inc. Reduce -19.2% 18.12% +4.98
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ SHC Sotera Health Co. New 1.60% +1.60 SION Sionna Therapeutics Inc. New 1.41% +1.41 CCC CCC Intelligent Solutions Ho Add +95.5% 1.46% +0.68 CMCSA Comcast Corp. Class A Add +18.1% 1.26% +0.39 UNH Unitedhealth Group Inc. Add +2.3% 1.53% +0.37 AMZN Amazon.com Inc. Add +12.1% 1.52% +0.27 ENTG Entegris Inc. Add +2.2% 2.11% +0.24 PEGA Pegasystems Inc. Add +4.3% 2.84% −0.08
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ MCD McDonald's Corp. put New 363,500 $113.5M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 56 $4.7B LFST, SPCX, JXN, LTH, SION Q1 2026 49 $3.4B LFST, JXN, LTH, SION, BETA Q4 2025 10 $2.7B LFST, LTH, BETA, SION, AMRX Q3 2025 9 $1.8B LFST, LTH, SION, AMRX, BCAX Q2 2025 9 $1.9B LFST, LTH, SION, AMRX, CBLL Q1 2025 27 $5.0B LFST, LTH, VIK, TTAN, PEGA Q4 2024 31 $6.2B VIK, LFST, LTH, TTAN, MTN Q3 2024 35 $5.9B VIK, LFST, LTH, PGRU, UNH Q2 2024 Amended 34 $6.4B VIK, LTH, LFST, LW, PGRU Q1 2024 Amended 34 $5.2B LFST, LTH, Nextracker Inc, Progyny Inc, ELV