TPG GP A, LLC
Long book
$3.68B
Q1 2026
Positions
76
Top-10 weight
76%
concentration
Last quarter
+35.2%
SPY +14.8%
Turnover
88%
of book per quarter
Strategy in plain words
auto-generated from filingsTPG GP A, LLC is a concentrated fundamental stock-picker, running a $3.68B US long book across 76 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: LIFESTANCE HEALTH GROUP INC, JACKSON FINANCIAL INC-A, LIFE TIME GROUP HOLDINGS INC, SIONNA THERAPEUTICS INC, BETA TECHNOLOGIES INC -CL A.
Over the last 9 quarters its long book ran on average 2.7pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-6.2%
Q2 2024
+10.3%
Q3 2024
+7.0%
Q4 2024
-1.7%
Q1 2025
+5.1%
Q2 2025
+5.3%
Q3 2025
+21.1%
Q4 2025
-11.9%
Q1 2026
+35.2%
Sector allocation
Healthcare 48%
Financials 16%
Services media 15%
Industrials 9%
Utilities 7%
Other 3%
Technology 2%
Communications 0%
Long book by quarter
What does TPG GP own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LFST LIFESTANCE HEALTH GROUP INC | Healthcare | 140.0M | $892.0M | 24.2% | -12.9% |
| JXN JACKSON FINANCIAL INC-A | Financials | 4.7M | $498.5M | 13.6% | New |
| LTH LIFE TIME GROUP HOLDINGS INC | Services media | 17.8M | $480.4M | 13.1% | Held |
| SION SIONNA THERAPEUTICS INC | Healthcare | 6.5M | $260.4M | 7.1% | -3.7% |
| BETA BETA TECHNOLOGIES INC -CL A | Industrials | 16.4M | $241.0M | 6.6% | Held |
| AMRX AMNEAL PHARMACEUTICALS INC | Healthcare | 12.3M | $153.2M | 4.2% | Held |
| NGL NGL ENERGY PARTNERS LP | Utilities | 5.9M | $73.2M | 2.0% | New |
| CBLL CERIBELL INC | Healthcare | 4.0M | $72.7M | 2.0% | Held |
| NVRI ENVIRI CORP | Utilities | 3.6M | $70.9M | 1.9% | New |
| BCAX BICARA THERAPEUTICS INC | Healthcare | 3.0M | $59.9M | 1.6% | Held |
| BRKR BRUKER CORP | Healthcare | 163.0K | $47.0M | 1.3% | New |
| ALLO ALLOGENE THERAPEUTICS INC | Healthcare | 18.7M | $45.7M | 1.2% | Held |
| HPE 7.625 09/01/27 HP ENTERPRISE CO | — | 575.0K | $37.3M | 1.0% | New |
| NX QUANEX BUILDING PRODUCTS | Industrials | 2.1M | $36.9M | 1.0% | New |
| NOVT NOVANTA INC | Technology | 661.7K | $35.4M | 1.0% | New |
| PCG PG&E CORP | Utilities | 680.0K | $29.3M | 0.8% | New |
| NEE NEXTERA ENERGY INC | Utilities | 575.0K | $28.8M | 0.8% | New |
| APO 6.75 07/31/26 APOLLO GLOBAL MANAGEMENT | — | 325.0K | $19.1M | 0.5% | New |
| PPL PPL CORPORATION | Utilities | 370.0K | $18.9M | 0.5% | New |
| ARES ARES MANAGEMENT CORP | Financials | 419.5K | $15.5M | 0.4% | New |
| EA ELECTRONIC ARTS INC | Technology | 65.0K | $13.3M | 0.4% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 40.0K | $11.5M | 0.3% | New |
| ORCL ORACLE CORP | Technology | 225.0K | $10.3M | 0.3% | New |
| MCHP MICROCHIP TECHNOLOGY INC | Technology | 150.0K | $8.5M | 0.2% | New |
| WBD WARNER BROS DISCOVERY INC | Communications | 295.0K | $8.1M | 0.2% | New |
| K4F ONESTREAM INC | — | 325.0K | $7.8M | 0.2% | New |
| WHR 8.5 02/15/29 A WHIRLPOOL CORP | — | 170.0K | $7.0M | 0.2% | New |
| PEN PENUMBRA INC | Healthcare | 20.0K | $6.6M | 0.2% | New |
| GTLS CHART INDUSTRIES INC | Industrials | 30.0K | $6.2M | 0.2% | New |
| KVUE KENVUE INC | Other | 300.0K | $5.2M | 0.1% | New |
| MASI* MASIMO CORP | — | 25.0K | $4.4M | 0.1% | New |
| RLYB RALLYBIO CORP | Healthcare | 378.6K | $3.4M | 0.1% | New |
| FOUR SHIFT4 PAYMENTS INC | Services media | 60.0K | $3.2M | 0.1% | New |
| SLAB SILICON LABORATORIES INC | Technology | 15.0K | $3.1M | 0.1% | New |
| DBRG DIGITALBRIDGE GROUP INC | Financials | 200.0K | $3.1M | 0.1% | New |
| APLSUSD APELLIS PHARMACEUTICALS INC | — | 50.0K | $2.0M | 0.1% | New |
| PAYO PAYONEER GLOBAL INC | Services media | 83.9K | $324K | 0.0% | New |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 2.5K | $243K | 0.0% | New |
| CORZ CORE SCIENTIFIC INC | Financials | 10.0K | $150K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 76 | $3.68B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 10 | $2.69B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 9 | $1.84B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 9 | $1.88B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 28 | $5.07B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 31 | $6.20B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 35 | $5.87B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ANEW HOLDINGS | Nov 14, 2024 | 1 | $2.06B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 33 | $4.36B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR/ARESTATEMENT | Aug 14, 2024 | 34 | $5.22B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 34 | $5.22B | SEC ↗ |
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