Q3 2025 Holdings
Filed 2025-11-12 | 38 holdings | $1.8B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| KinderCare Learning Cos Inc(KLC) | Common Stock | 49456W105 | $540.6M | 81,418,736 | 30.0% |
| Clarivate PLC(CLVT) | Common Stock | G21810909 | $98.0M | 25,583,059 | 5.4% |
| Apollo Global Management Inc(APO) | Common Stock | 03769M106 | $87.9M | 659,563 | 4.9% |
| NU Holdings Ltd an Islands(NU) | Common Stock | G6683N103 | $76.8M | 4,796,686 | 4.3% |
| Brookfield Corp(BN) | Common Stock | 11271J107 | $66.4M | 968,546 | 3.7% |
| American Tower Corp(AMT) | REIT | 03027X100 | $60.2M | 313,231 | 3.3% |
| Ares Management Corp(ARES) | Common Stock | 03990B101 | $57.8M | 361,723 | 3.2% |
| KKR & Co Inc(KKR) | Common Stock | 48251W104 | $55.9M | 429,808 | 3.1% |
| Blackstone Inc(BX) | Common Stock | 09260D107 | $53.8M | 314,721 | 3.0% |
| American Water Works Co Inc(AWK) | Common Stock | 030420103 | $50.2M | 360,687 | 2.8% |
| Atmos Energy Corp(ATO) | Common Stock | 049560105 | $46.4M | 271,689 | 2.6% |
| Republic Services Inc(RSG) | Common Stock | 760759100 | $44.7M | 194,579 | 2.5% |
| Union Pacific Corp(UNP) | Common Stock | 907818108 | $44.1M | 186,701 | 2.5% |
| Williams Cos Inc(WMB) | Common Stock | 969457100 | $41.5M | 654,829 | 2.3% |
| CMS Energy Corp(CMS) | Common Stock | 125896100 | $39.2M | 534,644 | 2.2% |
| Ares Capital Corp(ARCC) | Common Stock | 04010L103 | $36.1M | 1,767,154 | 2.0% |
| Equinix Inc(EQIX) | REIT | 29444U700 | $35.3M | 45,096 | 2.0% |
| CSX Corp(CSX) | Common Stock | 126408103 | $33.9M | 955,323 | 1.9% |
| Sempra(SRE) | Common Stock | 816851109 | $33.8M | 376,042 | 1.9% |
| Waste Management Inc(WM) | Common Stock | 94106L109 | $33.3M | 150,606 | 1.8% |
| Blue Owl Capital Inc(OWL) | Common Stock | 09581B103 | $32.8M | 1,940,155 | 1.8% |
| Canadian National Railway Co(CNI) | Common Stock | 136375102 | $28.9M | 307,025 | 1.6% |
| Ferrovial SE(FER) | Common Stock | N3168P101 | $28.5M | 498,563 | 1.6% |
| TPG Inc(TPG) | Common Stock | 872657101 | $27.6M | 480,740 | 1.5% |
| Crown Castle Inc(CCI) | REIT | 22822V101 | $24.4M | 252,671 | 1.4% |
| SBA Communications Corp(SBAC) | REIT | 78410G104 | $24.1M | 124,802 | 1.3% |
| TC Energy Corp(TRP) | Common Stock | 87807B107 | $23.0M | 423,545 | 1.3% |
| Old Dominion Freight Line Inc(ODFL) | Common Stock | 679580100 | $20.0M | 142,117 | 1.1% |
| Enbridge Inc(ENB) | Common Stock | 29250N105 | $14.5M | 287,766 | 0.8% |
| ArcBest Corp(ARCB) | Common Stock | 03937C105 | $10.3M | 147,476 | 0.6% |
| ADT Inc(ADT) | Common Stock | 00090Q103 | $9.7M | 1,114,353 | 0.5% |
| Life Time Group Holdings Inc(LTH) | Common Stock | 53190C102 | $7.7M | 277,777 | 0.4% |
| XPO Inc(XPO) | Common Stock | 983793100 | $6.0M | 46,516 | 0.3% |
| Kinder Morgan Inc(KMI) | Common Stock | 49456B101 | $5.7M | 201,148 | 0.3% |
| Enterprise Products Partners L(EPD) | MLP | 293792107 | $604.3K | 19,324 | 0.0% |
| NeueHealth Inc | Common Stock | 10920V404 | $591.3K | 88,645 | 0.0% |
| Energy Transfer LP(ET) | MLP | 29273V100 | $442.9K | 25,810 | 0.0% |
| Pembina Pipeline Corp(PBA) | Common Stock | 706327103 | $373.8K | 9,270 | 0.0% |