13F-HR: Carlyle Group Discloses Q2 2025 Equity Holdings

Carlyle Group Inc. reported its equity holdings for the second quarter of 2025, totaling over $5 billion across 20 positions.

Summary

• Carlyle Group Inc. submitted its Form 13F-HR for the quarter ended June 30, 2025.
• A 13F Combination Report was submitted, indicating that a portion of holdings are reported by Carlyle and a portion by other managers.
• Total reported holdings value $5,032,012,385.
• Twenty distinct equity positions are included.
• Three other managers, Abingworth LLP, Carlyle Investment Management LLC, and CIM Global, L.L.C., are included.
• AlpInvest Partners B.V. also reports for Carlyle Group Inc., though Carlyle does not participate in AlpInvest's investment decisions.
• Abingworth LLP became a relying advisor of Carlyle Investment Management L.L.C. following Carlyle's acquisition of the Abingworth group in August 2022.

Sentiment

Score: 5

Explanation: The filing is a routine regulatory disclosure of historical holdings, providing neutral information without indicating positive or negative performance or strategic shifts.

Positives

• Transparency in disclosing equity holdings is demonstrated as required by SEC regulations.
• Insight into the investment activities of Carlyle Group and its affiliated managers is provided.

Negatives

• The disclosure is backward-looking, reflecting holdings as of June 30, 2025, and may not represent current portfolio composition.
• No rationale for investment decisions or future investment strategies is provided.

Risks

• Information contained may not have been reviewed by the Securities and Exchange Commission for accuracy or completeness.
• Readers should not assume the information is accurate and complete.

Future Outlook

This Form 13F-HR is a historical disclosure of equity holdings and contains no forward-looking statements or guidance regarding future investment strategies or market outlook.

Management Comments

• The signatory certifies that the report is authorized, and all information is true, correct, and complete, with all required items considered integral parts of the form.

Industry Context

Form 13F filings are standard quarterly disclosures for institutional investment managers with over $100 million in assets under management, providing transparency into their public equity portfolios. These filings offer a snapshot of investment trends within the asset management industry, though they are backward-looking.

Comparison to Industry Standards

• Adherence to standard SEC Form 13F-HR requirements is observed, mandating disclosure of equity holdings for institutional investment managers exceeding $100 million in assets under management.
• Compared to other large asset managers, Carlyle Group's disclosure of 20 distinct equity positions and a total value exceeding $5 billion is typical for a firm of its size and diversified investment strategy, which includes private equity alongside public market activities.
• The inclusion of holdings from affiliated entities like Abingworth LLP and AlpInvest Partners B.V. reflects a common structure among large, diversified investment firms that manage various specialized funds or advisory relationships.

Related Party Transactions

• AlpInvest Partners B.V. is an indirectly wholly owned investment adviser of The Carlyle Group Inc., though Carlyle Group Inc. does not participate in AlpInvest Partners B.V.'s investment decision-making.
• Abingworth LLP became a relying advisor of Carlyle Investment Management L.L.C. after The Carlyle Group Inc. acquired the Abingworth group in August 2022.

Stakeholder Impact

• Transparency into the public equity investment activities of Carlyle Group and its affiliates is provided for shareholders, allowing them to see a snapshot of the firm's public market exposure.
• Data for analysis of institutional investment trends and specific portfolio allocations by a major asset manager is offered to investment professionals.
• Mandated disclosure requirements are fulfilled, ensuring compliance with SEC regulations for regulatory authorities.

Next Steps

• The filing does not specify any future actions, events, or milestones for Carlyle Group Inc. beyond the routine quarterly reporting cycle.

Key Dates

Keywords

Carlyle Group, 13F, SEC Filing, Equity Holdings, Institutional Investment, Asset Management, Portfolio Disclosure, Investment Management, Q2 2025