Partners Group Holding AG
Long book
$1.35B
Q1 2026
Positions
50
Top-10 weight
50%
concentration
Last quarter
+20.3%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsPartners Group Holding AG is a concentrated fundamental stock-picker, running a $1.35B US long book across 50 positions.
The portfolio is moderately concentrated (top 10 ≈ 50% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: KINDERCARE LEARNING COS INC, APOLLO GLOBAL MANAGEMENT INC, CLARIVATE PLC, ARES MANAGEMENT CORP - A, BROOKFIELD CORP.
Over the last 9 quarters its long book ran on average 8.3pp per quarter behind the S&P 500, beating the index in 2 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
-3.8%
Q2 2024
+13.9%
Q3 2024
-2.5%
Q4 2024
-19.1%
Q1 2025
-1.5%
Q2 2025
-14.0%
Q3 2025
-11.4%
Q4 2025
-15.9%
Q1 2026
+20.3%
Sector allocation
Utilities 29%
Financials 26%
Services media 16%
Industrials 16%
Technology 5%
Real estate 5%
Energy 2%
Consumer discretionary 1%
Long book by quarter
What does Partners Group own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| KLC KINDERCARE LEARNING COS INC | Services media | 81.4M | $179.1M | 13.3% | Held |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 615.8K | $68.6M | 5.1% | +7.6% |
| CLVT CLARIVATE PLC | Technology | 25.6M | $64.7M | 4.8% | New |
| ARES ARES MANAGEMENT CORP - A | Financials | 516.3K | $56.3M | 4.2% | +18.2% |
| BN BROOKFIELD CORP | Real estate | 1.4M | $56.2M | 4.2% | +5.2% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 3.4M | $48.2M | 3.6% | +2212.4% |
| RSG REPUBLIC SERVICES INC | Utilities | 217.8K | $47.7M | 3.5% | +3.3% |
| TRP TC ENERGY CORP | Utilities | 387.8K | $47.0M | 3.5% | -10.2% |
| WMB WILLIAMS COS INC | Utilities | 635.1K | $46.2M | 3.4% | -6.7% |
| ATO ATMOS ENERGY CORP | Utilities | 238.2K | $44.0M | 3.3% | -1.5% |
| BX BLACKSTONE INC | Financials | 371.7K | $42.7M | 3.2% | +11.3% |
| KKR KKR & CO INC | Financials | 450.1K | $41.6M | 3.1% | +10.3% |
| UNP UNION PACIFIC CORP | Industrials | 167.3K | $40.6M | 3.0% | -0.3% |
| WM WASTE MANAGEMENT INC | Utilities | 173.9K | $40.0M | 3.0% | -0.9% |
| SRE SEMPRA | Utilities | 410.6K | $39.9M | 3.0% | -0.1% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 289.1K | $39.3M | 2.9% | -5.9% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 253.1K | $38.6M | 2.9% | -4.0% |
| CMS CMS ENERGY CORP | Utilities | 497.3K | $38.6M | 2.9% | -0.2% |
| CSX CSX CORP | Industrials | 892.4K | $36.6M | 2.7% | -0.8% |
| ODFL OLD DOMINION FREIGHT LINE | Industrials | 184.0K | $36.0M | 2.7% | -5.4% |
| FER FERROVIAL NV | Industrials | 538.1K | $25.9M | 1.9% | +1.2% |
| ENB ENBRIDGE INC | Energy | 238.2K | $25.0M | 1.9% | -7.3% |
| TPG TPG INC | Financials | 504.4K | $20.4M | 1.5% | +19.2% |
| OWL BLUE OWL CAPITAL INC | Financials | 2.2M | $19.9M | 1.5% | -20.7% |
| BAM BROOKFIELD ASSET MGMT-A | Financials | 308.1K | $13.7M | 1.0% | +32.8% |
| ARCB ARCBEST CORP | Industrials | 98.8K | $9.7M | 0.7% | -33.0% |
| KMI KINDER MORGAN INC | Utilities | 262.2K | $8.8M | 0.7% | -10.1% |
| LTH LIFE TIME GROUP HOLDINGS INC | Services media | 277.8K | $7.5M | 0.6% | Held |
| ADT ADT INC | Services media | 1.1M | $7.3M | 0.5% | Held |
| XPO XPO INC | Industrials | 30.9K | $6.0M | 0.4% | -26.1% |
| RPRX ROYALTY PHARMA PLC- CL A | Healthcare | 87.1K | $4.2M | 0.3% | +74.6% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 53.7K | $4.0M | 0.3% | +117.9% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 9.8K | $3.2M | 0.2% | +81.5% |
| WMG WARNER MUSIC GROUP CORP-CL A | Services media | 91.1K | $2.3M | 0.2% | +98.1% |
| MCD MCDONALD'S CORP | Consumer discretionary | 7.0K | $2.2M | 0.2% | +101.1% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 13.9K | $1.8M | 0.1% | +75.5% |
| RGLD ROYAL GOLD INC | Financials | 7.0K | $1.8M | 0.1% | +65.7% |
| HLT HILTON WORLDWIDE HOLDINGS IN | Services media | 5.4K | $1.6M | 0.1% | +92.3% |
| DPZ DOMINO'S PIZZA INC | Consumer discretionary | 3.4K | $1.2M | 0.1% | +134.3% |
| DLB DOLBY LABORATORIES INC-CL A | Financials | 18.9K | $1.1M | 0.1% | +108.0% |
| PBA PEMBINA PIPELINE CORP | Energy | 9.3K | $805K | 0.1% | Held |
| IDCC INTERDIGITAL INC | Financials | 1.6K | $483K | 0.0% | +69.2% |
| OKE ONEOK INC | Utilities | 2.5K | $223K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 50 | $1.35B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 49 | $1.48B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 38 | $1.80B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 40 | $2.13B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 43 | $2.39B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 44 | $2.79B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 41 | $1.55B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 46 | $1.33B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 47 | $1.10B | canonical | SEC ↗ |
Similar funds
Sanders Capital, LLCGATES FOUNDATION TRUSTEAGLE CAPITAL MANAGEMENT LLCWoodbridge Co LtdAlecta Tjanstepension OmsesidigtMubadala Investment Co PJSCH&H International Investment, LLCNewlands Management Operations LLCINVESTOR ABIndependent Franchise Partners LLPPineStone Asset Management Inc.Pentwater Capital Management LP