Carlyle Group Inc.
Long book
$10.62B
Q1 2026
Positions
20
Top-10 weight
100%
concentration
Last quarter
+1.2%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsCarlyle Group Inc. is a concentrated fundamental stock-picker, specialised in healthcare (79% of the long book), running a $10.62B US long book across 20 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: MEDLINE INC-CL A, STANDARDAERO INC, PHATHOM PHARMACEUTICALS INC, PONY AI INC, INVITATION HOMES INC.
Over the last 9 quarters its long book ran on average 3.3pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-22.5%
Q2 2024
+25.3%
Q3 2024
-15.0%
Q4 2024
+6.0%
Q1 2025
+18.0%
Q2 2025
-12.9%
Q3 2025
+9.7%
Q4 2025
+0.5%
Q1 2026
+1.2%
Sector allocation
Healthcare 79%
Industrials 21%
Services media 0%
Consumer discretionary 0%
Technology 0%
Financials 0%
Long book by quarter
What does Carlyle Group own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MDLN MEDLINE INC-CL A | Healthcare | 187.1M | $8.33B | 78.4% | -13.1% |
| SARO STANDARDAERO INC | Industrials | 84.6M | $2.18B | 20.6% | -44.6% |
| PHAT PHATHOM PHARMACEUTICALS INC | Healthcare | 3.5M | $38.8M | 0.4% | Held |
| QTTB Q32 BIO INC | Healthcare | 1.1M | $7.1M | 0.1% | Held |
| GETY GETTY IMAGES HOLDINGS INC | Services media | 6.2M | $4.9M | 0.0% | Held |
| SPRB SPRUCE BIOSCIENCES INC | Healthcare | 38.6K | $2.5M | 0.0% | Held |
| FWRD FORWARD AIR CORP | Industrials | 107.2K | $1.8M | 0.0% | Held |
| ACET ADICET BIO INC | Healthcare | 184.3K | $1.3M | 0.0% | Held |
| DNUT KRISPY KREME INC | Consumer discretionary | 340.7K | $1.2M | 0.0% | Held |
| OKUR ONKURE THERAPEUTICS INC-A | Healthcare | 269.9K | $1.1M | 0.0% | Held |
| JSPR JASPER THERAPEUTICS INC | Healthcare | 1.1M | $934K | 0.0% | Held |
| SPWR SUNPOWER INC | Industrials | 433.2K | $550K | 0.0% | Held |
| HTFL HEARTFLOW INC | Healthcare | 20.4K | $497K | 0.0% | New |
| SYRE SPYRE THERAPEUTICS INC | Healthcare | 9.6K | $485K | 0.0% | Held |
| NABL N-ABLE INC | Technology | 93.7K | $438K | 0.0% | Held |
| XCUR EXICURE INC | Healthcare | 56.3K | $240K | 0.0% | Held |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 3.4K | $234K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 20 | $10.62B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 20 | $13.57B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 17 | $4.34B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 20 | $5.03B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 23 | $3.80B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 27 | $4.15B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 26 | $954.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 31 | $1.05B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 3, 2024 | 32 | $1.59B | canonical | SEC ↗ |