Fernbridge Capital Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Fernbridge Capital Management LP reported 17 stock positions worth $1.8 billion. Its top holding was Intuit (INTU) at 19.5% of the portfolio, followed by PTC (PTC, 17.7%) and Salesforce (CRM, 10.8%). Compared with Q4 2024, it opened 3 new positions, sold out of 8, added to 9 and reduced 5. The biggest buy was Intuit (INTU, shares +28%) and the biggest sale an exit from Uber Technologies (UBER).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001827734
- Portfolio Value
- $1.8B (Q1 2025)
- SEC Filing
- 0001827734-25-000003 ↗ filed May 15, 2025
Holdings Value
Holdings 17 stocks · $1.8B
| INTU Intuit Inc. | 19.49% | 572,460 | $351.5M | Add +28.0% |
| PTC PTC Inc. | 17.66% | 2,055,053 | $318.4M | Add +35.7% |
| CRM Salesforce Inc. | 10.83% | 727,859 | $195.3M | Add +37.0% |
| WDAY Workday Inc. Class A | 10.14% | 782,782 | $182.8M | Add +2.8% |
| AMZN Amazon.com Inc. | 6.04% | 572,242 | $108.9M | Reduce -6.2% |
| LYV Live Nation Entertainment Inc. | 5.38% | 742,993 | $97.0M | Add +123.0% |
| BKNG Booking Holdings Inc. | 5.17% | 20,223 | $93.2M | Add +162.9% |
| VMC Vulcan Materials Co. | 4.75% | 366,957 | $85.6M | Add +19.1% |
| MSFT Microsoft Corp. | 4.38% | 210,485 | $79.0M | Add +35.6% |
| FLUT Flutter Entertainment PLC-Di | 3.86% | 314,473 | $69.7M | New |
| TRU Transunion | 3.32% | 721,863 | $59.9M | New |
| TSM Taiwan Semiconductor-SP ADR | 2.32% | 252,242 | $41.9M | Add +98.3% |
| COF Capital One Financial Corp. | 2.16% | 216,806 | $38.9M | New |
| DASH DoorDash Inc. Class A | 1.69% | 166,512 | $30.4M | Reduce -46.3% |
| WMS Advanced Drainage Systems Inc. | 1.19% | 197,786 | $21.5M | Reduce -18.9% |
| CNM Core & Main Inc. Class A | 1.02% | 382,010 | $18.5M | Reduce -12.3% |
| SPOT Spotify Technology SA | 0.59% | 19,296 | $10.6M | Reduce -86.4% |
Portfolio Sells Q4 2024 → Q1 2025
| UBER Uber Technologies Inc. | Sold out | 0.00% | −7.52 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −3.04 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −3.01 |
| SPOT Spotify Technology SA | Reduce -86.4% | 0.59% | −2.73 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −2.58 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −1.97 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −1.49 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −1.40 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −1.19 |
| DASH DoorDash Inc. Class A | Reduce -46.3% | 1.69% | −1.04 |
| AMZN Amazon.com Inc. | Reduce -6.2% | 6.04% | −0.97 |
| WMS Advanced Drainage Systems Inc. | Reduce -18.9% | 1.19% | −0.29 |
| CNM Core & Main Inc. Class A | Reduce -12.3% | 1.02% | −0.14 |
Portfolio Buys Q4 2024 → Q1 2025
| INTU Intuit Inc. | Add +28.0% | 19.49% | +4.76 |
| FLUT Flutter Entertainment PLC-Di | New | 3.86% | +3.86 |
| TRU Transunion | New | 3.32% | +3.32 |
| BKNG Booking Holdings Inc. | Add +162.9% | 5.17% | +3.16 |
| LYV Live Nation Entertainment Inc. | Add +123.0% | 5.38% | +3.12 |
| PTC PTC Inc. | Add +35.7% | 17.66% | +3.06 |
| COF Capital One Financial Corp. | New | 2.16% | +2.16 |
| CRM Salesforce Inc. | Add +37.0% | 10.83% | +1.52 |
| TSM Taiwan Semiconductor-SP ADR | Add +98.3% | 2.32% | +1.01 |
| MSFT Microsoft Corp. | Add +35.6% | 4.38% | +0.95 |
| VMC Vulcan Materials Co. | Add +19.1% | 4.75% | +0.59 |
| WDAY Workday Inc. Class A | Add +2.8% | 10.14% | −0.16 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $1.4B | CRM, V, PTC, WDAY, INTU |
| Q1 2026 | 17 | $1.6B | CRM, INTU, PTC, WDAY, V |
| Q4 2025 | 20 | $2.0B | CRM, WDAY, AMZN, PTC, TTEK |
| Q3 2025 | 24 | $2.1B | CRM, WDAY, PTC, AMZN, LPX |
| Q2 2025 | 24 | $2.1B | CRM, PTC, WDAY, AMZN, INTU |
| Q1 2025 | 17 | $1.8B | INTU, PTC, CRM, WDAY, AMZN |
| Q4 2024 | 22 | $1.9B | INTU, PTC, WDAY, CRM, UBER |
| Q3 2024 | 23 | $1.6B | CRM, PTC, AMZN, FIS, WDAY |
| Q2 2024 | 22 | $1.5B | CRM, PTC, AMZN, FIS, TMUS |
| Q1 2024 | 19 | $1.3B | PTC, TMUS, CRM, AMZN, SHW |