Blackstone Inc.
Long book
$24.20B
Q1 2026
Positions
414
Top-10 weight
67%
concentration
Last quarter
+4.6%
SPY +14.8%
Turnover
69%
of book per quarter
Strategy in plain words
auto-generated from filingsBlackstone Inc. is an institutional manager, specialised in utilities (65% of the long book), running a $24.20B US long book across 414 positions.
The portfolio is concentrated: the top 10 names carry 67% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: CHENIERE ENERGY PARTNERS LP, COREBRIDGE FINANCIAL INC, FIRSTENERGY CORP, LEGENCE CORP-CL A, WILLIAMS COS INC.
Over the last 9 quarters its long book ran on average 0.7pp per quarter ahead of the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.5%
Q2 2024
+4.1%
Q3 2024
+9.6%
Q4 2024
+9.8%
Q1 2025
+1.3%
Q2 2025
+0.2%
Q3 2025
-0.0%
Q4 2025
+15.6%
Q1 2026
+4.6%
Sector allocation
Utilities 67%
Energy 12%
Industrials 7%
Financials 7%
Technology 3%
Services media 1%
Consumer discretionary 1%
Other 1%
Long book by quarter
What does Blackstone Inc. own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CQP CHENIERE ENERGY PARTNERS LP | Utilities | 102.3M | $6.61B | 27.3% | Held |
| CRBG COREBRIDGE FINANCIAL INC | Financials | 62.0M | $1.48B | 6.1% | Held |
| FE FIRSTENERGY CORP | Utilities | 28.8M | $1.46B | 6.0% | Held |
| LGN LEGENCE CORP-CL A | Industrials | 25.3M | $1.43B | 5.9% | -1.9% |
| WMB WILLIAMS COS INC | Utilities | 17.1M | $1.24B | 5.1% | -3.2% |
| MPLX MPLX LP | Energy | 15.4M | $876.1M | 3.6% | -2.3% |
| TRGP TARGA RESOURCES CORP | Utilities | 3.3M | $838.0M | 3.5% | -10.9% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 21.1M | $798.6M | 3.3% | +9.6% |
| ENB ENBRIDGE INC | Energy | 14.1M | $763.6M | 3.2% | -5.0% |
| KMI KINDER MORGAN INC | Utilities | 21.0M | $703.2M | 2.9% | -1.9% |
| ET ENERGY TRANSFER LP | Utilities | 31.1M | $600.6M | 2.5% | +20.7% |
| KNTK KINETIK HOLDINGS INC | Utilities | 11.9M | $577.0M | 2.4% | 0.0% |
| LNG CHENIERE ENERGY INC | Utilities | 1.9M | $533.8M | 2.2% | -51.6% |
| TXNM TXNM ENERGY INC | Utilities | 8.0M | $467.7M | 1.9% | Held |
| PAA PLAINS ALL AMER PIPELINE LP | Energy | 18.7M | $418.5M | 1.7% | +41.0% |
| TRP TC ENERGY CORP | Utilities | 6.4M | $401.6M | 1.7% | +184.9% |
| DTM DT MIDSTREAM INC | Utilities | 2.7M | $361.0M | 1.5% | +20.2% |
| WES WESTERN MIDSTREAM PARTNERS L | Utilities | 8.8M | $360.5M | 1.5% | -21.1% |
| OKE ONEOK INC | Utilities | 3.4M | $308.7M | 1.3% | -3.1% |
| HESM HESS MIDSTREAM LP - CLASS A | Energy | 7.8M | $302.0M | 1.2% | +113.0% |
| SUNC SUNOCOCORP LLC | Energy | 3.1M | $189.4M | 0.8% | +87.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 715.4K | $149.0M | 0.6% | +40.9% |
| MSFT MICROSOFT CORP | Technology | 320.5K | $118.6M | 0.5% | +48.7% |
| BMBL BUMBLE INC-A | Technology | 29.9M | $97.5M | 0.4% | -20.0% |
| AMAT APPLIED MATERIALS INC | Technology | 248.8K | $85.0M | 0.4% | New |
| PTEN PATTERSON-UTI ENERGY INC | Energy | 7.1M | $77.3M | 0.3% | -74.6% |
| NVT NVENT ELECTRIC PLC | Industrials | 645.0K | $76.3M | 0.3% | +5.7% |
| BXSL BLACKSTONE SECURED LENDING F | — | 3.2M | $76.0M | 0.3% | Held |
| PSFE PAYSAFE LTD | Services media | 11.0M | $74.6M | 0.3% | Held |
| TASK TASKUS INC-A | Technology | 10.1M | $67.7M | 0.3% | Held |
| AM ANTERO MIDSTREAM CORP | Utilities | 2.8M | $64.1M | 0.3% | +0.5% |
| SUN SUNOCO LP | Energy | 894.4K | $58.1M | 0.2% | -63.3% |
| AMD ADVANCED MICRO DEVICES | Technology | 276.1K | $56.2M | 0.2% | New |
| NFG NATIONAL FUEL GAS CO | Utilities | 586.6K | $55.1M | 0.2% | New |
| GRAB GRAB HOLDINGS LTD - CL A | Services media | 15.0M | $54.9M | 0.2% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 281.7K | $51.4M | 0.2% | +31.6% |
| CCAP CRESCENT CAPITAL BDC INC | — | 4.2M | $51.1M | 0.2% | Held |
| V VISA INC-CLASS A SHARES | Services media | 163.9K | $49.5M | 0.2% | -17.4% |
| EQT EQT CORP | Energy | 754.6K | $48.0M | 0.2% | -95.9% |
| VRT VERTIV HOLDINGS CO-A | Technology | 190.0K | $47.6M | 0.2% | +40.7% |
| APC ARKO PETROLEUM CORP | Consumer discretionary | 2.6M | $47.4M | 0.2% | New |
| PBA PEMBINA PIPELINE CORP | Energy | 952.9K | $42.7M | 0.2% | -1.2% |
| TLN TALEN ENERGY CORP | Utilities | 117.5K | $37.5M | 0.2% | New |
| ACHR ARCHER AVIATION INC-A | Industrials | 5.1M | $26.1M | 0.1% | -35.3% |
| VNOM VIPER ENERGY INC-CL A | Energy | 500.0K | $23.5M | 0.1% | -90.0% |
| SOBO SOUTH BOW CORP | Energy | 697.2K | $23.2M | 0.1% | -1.7% |
| META META PLATFORMS INC-CLASS A | Technology | 34.8K | $19.9M | 0.1% | +44.7% |
| BAER BRIDGER AEROSPACE GROUP HOLD | Services media | 9.6M | $19.1M | 0.1% | Held |
| USAC USA COMPRESSION PARTNERS LP | Utilities | 696.7K | $18.9M | 0.1% | Held |
| NVDA NVIDIA CORP | Technology | 97.1K | $16.9M | 0.1% | +88.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 441 | $25.61B | confidential canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ANEW HOLDINGS | May 15, 2026 | 5 | $118.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 263 | $25.31B | confidential canonical | SEC ↗ |
| Q3 2025 | 13F-HR/ANEW HOLDINGS | May 15, 2026 | 2 | $65.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 263 | $24.84B | confidential canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 177 | $23.42B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 181 | $24.08B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 172 | $21.97B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 174 | $22.93B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 186 | $23.93B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 202 | $24.76B | canonical | SEC ↗ |
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