BI
Blackstone Inc. — 13F Filings Deep Dive
Blackstone Inc.High-turnover traderSector-focusedContrarian
Total reported value
$25.6B
Reporting period: 2026-03-31 · Number of holdings: 441
Blackstone Inc. disclosed 441 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $25.6B and a quarterly turnover rate of 199.9%.
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Personality snowflake
- Concentration
- 35.79
- Portfolio Stability
- 100
- Momentum/Contrarian
- 0
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 39.74
Recent moves
New buy CQP
New buy CRBG
New buy FE
New buy LGN
New buy SPY
New buy WMB
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Blackstone Inc. is not dabbling—this is a deliberate and aggressive capital deployment into North American natural gas infrastructure, with CQP as the 25.8% anchor. The simultaneous initiation of 416 positions including an S&P 500 ETF suggests a core-satellite structure: a single high-conviction MLP surrounded by a granular portfolio of energy and utility spin-offs to capture a regime of rising power demand and commodity stickiness.
Macro & Fundamentals
The bet is a structural re-industrialization narrative with natural gas at the center, pairing midstream energy and rate-base utilities to profit from the intersection of AI-driven load growth, onshoring, and lower-carbon baseload. The opposing thesis: LNG capacity additions and interest-rate normalization crush midstream margins and utility valuations simultaneously, delivering a double-hit to the portfolio's core.
Blind Spots / Risks
CQP at 25.8% is a concentrated bet on a single MLP structure; any regulatory change or tax ruling affecting MLPs directly impairs a quarter of the portfolio. The 416-name long tail includes multiple micro-cap names with minimal volume—this portfolio will face severe locks in a liquidity crisis.
This narrative is produced by AI from publicly available filings and describes past activity only — it is informational, not investment advice.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 416 holdings (of 441 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CQP | Cheniere Energy Partners LP | Stock-Other | 25.83% | +25.83% | NEW | |
| 2 | CRBG | Corebridge Financial INC | Stock-Financials | 5.77% | +5.77% | NEW | |
| 3 | FE | Firstenergy CORP | Stock-Utilities | 5.70% | +5.70% | NEW | |
| 4 | LGN | Legence Corp-cl A | Stock-Other | 5.59% | +5.59% | NEW | |
| 5 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 4.87% | +4.87% | NEW | |
| 6 | WMB | Williams Cos INC | Stock-Energy | 4.85% | +4.85% | NEW | |
| 7 | MPLX | Mplx LP | Stock-Energy | 3.42% | +3.42% | NEW | |
| 8 | TRGP | Targa Resources CORP | Stock-Energy | 3.27% | +3.27% | NEW | |
| 9 | EPD | Enterprise Products Partners | Stock-Energy | 3.12% | +3.12% | NEW | |
| 10 | ENB | Enbridge INC | Stock-Energy | 2.98% | +2.98% | NEW | |
| 11 | KMI | Kinder Morgan INC | Stock-Energy | 2.75% | +2.75% | NEW | |
| 12 | ET | Energy Transfer LP | Stock-Energy | 2.35% | +2.35% | NEW | |
| 13 | KNTK | Kinetik Holdings INC | Stock-Other | 2.25% | +2.25% | NEW | |
| 14 | LNG | Cheniere Energy INC | Stock-Energy | 2.08% | +2.08% | NEW | |
| 15 | TXNM | Txnm Energy INC | Stock-Utilities | 1.83% | +1.83% | NEW | |
| 16 | PAA | Plains All Amer Pipeline LP | Stock-Energy | 1.63% | +1.63% | NEW | |
| 17 | TRP | Tc Energy CORP | Stock-Energy | 1.57% | +1.57% | NEW | |
| 18 | DTM | Dt Midstream INC | Stock-Energy | 1.41% | +1.41% | NEW | |
| 19 | WES | Western Midstream Partners L | Stock-Energy | 1.41% | +1.41% | NEW | |
| 20 | OKE | Oneok INC | Stock-Energy | 1.21% | +1.21% | NEW | |
| 21 | HESM | Hess Midstream LP - Class A | Stock-Other | 1.18% | +1.18% | NEW | |
| 22 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.83% | +0.83% | NEW | |
| 23 | SUNC | Sunococorp LLC | Stock-Other | 0.74% | +0.74% | NEW | |
| 24 | BXMT | Blackstone Mortgage Tru-cl A | Stock-Real Estate | 0.69% | +0.69% | NEW | |
| 25 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.58% | +0.58% | NEW | |
| 26 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.55% | +0.55% | NEW | |
| 27 | MSFT | Microsoft CORP | Stock-Tech | 0.46% | +0.46% | NEW | |
| 28 | BMBL | Bumble Inc-a | Stock-Other | 0.38% | +0.38% | NEW | |
| 29 | CX | Cemex Sab-spons Adr Part Cer | Stock-Other | 0.38% | +0.38% | NEW | |
| 30 | CWAN | Clearwater Analytics Holdings, Inc. | Stock-Tech | 0.38% | +0.38% | NEW | |
| 31 | VNET | Vnet Group Inc-adr | Stock-Other | 0.34% | +0.34% | NEW | |
| 32 | AMAT | Applied Materials INC | Stock-Tech | 0.33% | +0.33% | NEW | |
| 33 | SHO | Sunstone Hotel Investors INC | Stock-Other | 0.30% | +0.30% | NEW | |
| 34 | PTEN | Patterson-uti Energy INC | Stock-Energy | 0.30% | +0.30% | NEW | |
| 35 | NVT | nVent Electric plc | Stock-Industrials | 0.30% | +0.30% | NEW | |
| 36 | BXSL | Blackstone Secured Lending F | Stock-Financials | 0.30% | +0.30% | NEW | |
| 37 | AVB | Avalonbay Communities INC | Stock-Real Estate | 0.30% | +0.30% | NEW | |
| 38 | PSFE | Paysafe Limited | Stock-Other | 0.29% | +0.29% | NEW | |
| 39 | INDA | Ishares Msci India ETF | ETF-Other | 0.28% | +0.28% | NEW | |
| 40 | TASK | Taskus Inc-a | Stock-Other | 0.26% | +0.26% | NEW | |
| 41 | AM | Antero Midstream CORP | Stock-Energy | 0.25% | +0.25% | NEW | |
| 42 | SUN | Sunoco LP | Stock-Other | 0.23% | +0.23% | NEW | |
| 43 | AMD | Advanced Micro Devices | Stock-Tech | 0.22% | +0.22% | NEW | |
| 44 | NFG | National Fuel Gas Co | Stock-Energy | 0.22% | +0.22% | NEW | |
| 45 | GRAB | Grab Holdings Limited | Stock-Tech | 0.21% | +0.21% | NEW | |
| 46 | COF | Capital One Financial CORP | Stock-Financials | 0.20% | +0.20% | NEW | |
| 47 | CCAP | Crescent Capital Bdc INC | Stock-Other | 0.20% | +0.20% | NEW | |
| 48 | V | Visa Inc-class A Shares | Stock-Financials | 0.19% | +0.19% | NEW | |
| 49 | PAGP | Plains Gp Holdings Lp-cl A | Stock-Energy | 0.19% | +0.19% | NEW | |
| 50 | EQT | Eqt CORP | Stock-Energy | 0.19% | +0.19% | NEW |
1–50 of 416
Portfolio Performance
Performance for Q3 2026
-1.9%
Performance Last 4 Quarters
+13.3%
Based on 74% of reported portfolio value with available pricing
- Stdev
- +16.6%
- Beta
- +0.69
- Alpha
- -1.6%
- Max Drawdown
- -9.4%
- Annualized Perf
- +10.4%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.23
- Stutzer
- +0.2
- Treynor
- +0.16
- Sterling
- +0.62
- Calmar
- +1.11
- Information Ratio
- -0.5
- Tracking Error
- +14.5%
- Stdev Down
- +9.1%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +28.4%
- Worst 12 Months
- -4.8%
- Efficiency Ratio
- +0.26
- Sharpe
- +0.67
- Stdev Sectors
- +17.6%
- Skewness
- +0.35
- Kurtosis
- -0.05
- Upside Potential
- +3.03
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 441 | $25.6B | 100 | |
| 2025-12-31 | 263 | $25.3B | 0 | |
| 2025-09-30 | 263 | $24.8B | 0 | |
| 2025-06-30 | 177 | $23.4B | 0 | |
| 2025-03-31 | 181 | $24.1B | 100 | |
| 2024-12-31 | 172 | $22.0B | 0 | |
| 2024-09-30 | 174 | $22.9B | 0 | |
| 2024-06-30 | 186 | $23.9B | 0 | |
| 2024-03-31 | 202 | $24.8B | 0 | |
| 2023-12-31 | 173 | $22.2B | 0 | |
| 2023-09-30 | 169 | $23.9B | 0 | |
| 2023-06-30 | 166 | $23.4B | 0 | |
| 2023-03-31 | 179 | $24.4B | 0 | |
| 2022-12-31 | 185 | $26.4B | 0 | |
| 2022-09-30 | 227 | $27.1B | 0 | |
| 2022-06-30 | 260 | $30.1B | 0 | |
| 2022-03-31 | 260 | $39.4B | 0 | |
| 2021-12-31 | 543 | $39.9B | 0 | |
| 2021-09-30 | 633 | $44.9B | 0 | |
| 2021-06-30 | 624 | $44.3B | 49 | |
| 2021-03-31 | 500 | $50.2B | 75 | |
| 2020-12-31 | 259 | $28.4B | 45 | |
| 2020-09-30 | 185 | $25.8B | 28 | |
| 2020-06-30 | 168 | $23.7B | 76 | |
| 2020-03-31 | 83 | $13.8B | 66 | |
| 2019-12-31 | 72 | $15.4B | 35 | |
| 2019-09-30 | 74 | $17.4B | 21 | |
| 2019-06-30 | 96 | $19.1B | 27 | |
| 2019-03-31 | 76 | $20.6B | 18 | |
| 2018-12-31 | 56 | $18.0B | 28 | |
| 2018-09-30 | 57 | $21.6B | 19 | |
| 2018-06-30 | 89 | $19.7B | 29 | |
| 2018-03-31 | 62 | $19.9B | 64 | |
| 2017-12-31 | 102 | $24.6B | 57 | |
| 2017-09-30 | 42 | $16.3B | 59 | |
| 2017-06-30 | 42 | $11.3B | 36 | |
| 2017-03-31 | 44 | $13.1B | 100 | |
| 2016-12-31 | 42 | $16.2B | 17 | |
| 2016-09-30 | 100 | $17.3B | 33 | |
| 2016-06-30 | 110 | $21.7B | 29 | |
| 2016-03-31 | 67 | $23.6B | 24 | |
| 2015-12-31 | 71 | $27.1B | 31 | |
| 2015-09-30 | 78 | $31.1B | 18 | |
| 2015-06-30 | 64 | $35.0B | 28 | |
| 2015-03-31 | 58 | $36.6B | 28 | |
| 2014-12-31 | 58 | $35.4B | 34 | |
| 2014-09-30 | 51 | $34.2B | 21 | |
| 2014-06-30 | 46 | $31.7B | 17 | |
| 2014-03-31 | 35 | $33.1B | 13 | |
| 2013-12-31 | 34 | $31.8B | 100 | |
| 2013-09-30 | 33 | $11.7B | 20 | |
| 2013-06-30 | 35 | $12.1B | 0 |
Holding changes this quarter
Blackstone Inc.'s most significant position changes for 2026-03-31: New buy: Cheniere Energy Partners LP (CQP); New buy: Corebridge Financial INC (CRBG); New buy: Firstenergy CORP (FE); New buy: Legence Corp-cl A (LGN); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY).
FAQ
What is Blackstone Inc. and what type of investor is it?
Blackstone Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $25.6B, spread across 441 disclosed positions.
What are Blackstone Inc.'s largest equity positions?
Based on the latest 13F filing, Blackstone Inc.'s top holdings by market value are:
1. Cheniere Energy Partners LP (CQP) — $6.6B (25.8%)
2. Corebridge Financial INC (CRBG) — $1.5B (5.8%)
3. Firstenergy CORP (FE) — $1.5B (5.7%)
4. Legence Corp-cl A (LGN) — $1.4B (5.6%)
5. Ss Spdr S&p 500 ETF Trust-us (SPY) — $1.2B (4.9%)
What changes did Blackstone Inc. make in its most recent portfolio filing?
In the latest quarter, Blackstone Inc. was primarily adding exposure — initiating 50 new positions and adding to 0 existing holdings. The largest of these moves: New buy: Cheniere Energy Partners LP (CQP); New buy: Corebridge Financial INC (CRBG); New buy: Firstenergy CORP (FE); New buy: Legence Corp-cl A (LGN); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY)
What sectors does Blackstone Inc. focus on?
Blackstone Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 62.7%
• Utilities: 14.5%
• Financials: 12.6%
• Information Technology: 4.0%
• Real Estate: 2.1%
• Industrials: 1.7%
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