Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Blackstone Inc. for the reporting period ended December 31, 2025. The report was signed on February 17, 2026, by Victoria Portnoy, Managing Director and Assistant Secretary. The filing covers the investment holdings of Blackstone Inc. and includes eight other affiliated institutional investment managers.
Key Financial Metrics
As a Form 13F filing, this document reports equity holdings rather than the company's operational financial performance (revenue, profit, or cash flow). The following portfolio metrics are disclosed:
- Total Portfolio Value: $25,311,211,508 (rounded to the nearest dollar).
- Total Number of Holdings: 263 entries reported in the Information Table.
- Confidential Treatment: The manager has requested confidential treatment for one or more holdings, meaning the total public value may not reflect the full scope of managed assets.
- Operational Metrics: Revenue, profit, margins, debt, and liquidity figures for Blackstone Inc. are not provided in this filing type.
Material Changes and Portfolio Composition
The filing does not provide a comparative table against the prior quarter (September 30, 2025) to explicitly quantify material changes in holdings or value. However, the report includes a list of eight other included managers, indicating a consolidated reporting structure for various Blackstone affiliates, including:
- Blackstone Alternative Credit Advisors LP
- Blackstone Management Partners L.L.C.
- Blackstone Real Estate Advisors L.P.
- Harvest Fund Advisors LLC
- Blackstone Infrastructure Advisors L.L.C.
A specific note indicates that the position in The Oatly Group AB reflects American Depository Shares (ADS) exchangeable for Ordinary Shares.
Guidance, Risks, and Contingencies
This filing type does not contain management guidance, outlook, or commentary on future business performance. The primary disclosure regarding contingencies is the request for confidential treatment under Section 13(f) of the Exchange Act, which omits specific holdings from public view. The filing includes standard SEC disclaimers stating that the Commission has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Verify the total portfolio value of approximately $25.3 billion against the firm's total Assets Under Management (AUM) to understand the portion of the portfolio subject to 13F reporting.
- Note that specific holdings are omitted due to confidential treatment requests, which may impact the completeness of the public equity exposure analysis.
- Confirm the specific breakdown of the 263 reported entries to identify top sector concentrations, as the summary text does not list individual securities.
- Recognize that this document reflects equity positions only and does not disclose private equity, real estate, or credit assets held by the firm.