Fernbridge Capital Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Fernbridge Capital Management LP reported 24 stock positions worth $2.1 billion. Its top holding was Salesforce (CRM) at 18.7% of the portfolio, followed by PTC (PTC, 16.9%) and Workday Class A (WDAY, 14.2%). Compared with Q1 2025, it opened 8 new positions, sold out of 1, added to 4 and reduced 11. The biggest buy was Salesforce (CRM, shares +97%) and the biggest sale Intuit (INTU, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001827734
- Portfolio Value
- $2.1B (Q2 2025)
- SEC Filing
- 0001827734-25-000005 ↗ filed Aug 13, 2025
Holdings Value
Holdings 24 stocks · $2.1B
| CRM Salesforce Inc. | 18.66% | 1,436,860 | $391.8M | Add +97.4% |
| PTC PTC Inc. | 16.87% | 2,055,053 | $354.2M | No change |
| WDAY Workday Inc. Class A | 14.19% | 1,241,380 | $297.9M | Add +58.6% |
| AMZN Amazon.com Inc. | 5.57% | 533,411 | $117.0M | Reduce -6.8% |
| INTU Intuit Inc. | 4.93% | 131,543 | $103.6M | Reduce -77.0% |
| FLUT Flutter Entertainment PLC-Di | 4.28% | 314,467 | $89.9M | Reduce 0.0% |
| LYV Live Nation Entertainment Inc. | 4.14% | 574,874 | $87.0M | Reduce -22.6% |
| VMC Vulcan Materials Co. | 3.17% | 254,972 | $66.5M | Reduce -30.5% |
| CNM Core & Main Inc. Class A | 3.08% | 1,071,238 | $64.6M | Add +180.4% |
| TRU Transunion | 3.02% | 720,659 | $63.4M | Reduce -0.2% |
| BKNG Booking Holdings Inc. | 2.64% | 9,592 | $55.5M | Reduce -52.6% |
| TSM Taiwan Semiconductor-SP ADR | 2.50% | 231,502 | $52.4M | Reduce -8.2% |
| TMUS T-Mobile US Inc. | 2.27% | 200,281 | $47.7M | New |
| DASH DoorDash Inc. Class A | 1.90% | 161,454 | $39.8M | Reduce -3.0% |
| COF Capital One Financial Corp. | 1.83% | 180,782 | $38.5M | Reduce -16.6% |
| XYZ Block Inc. | 1.77% | 547,620 | $37.2M | New |
| V Visa Inc. Class A | 1.69% | 99,688 | $35.4M | New |
| TTEK Tetra Tech Inc. | 1.62% | 943,423 | $33.9M | New |
| UBER Uber Technologies Inc. | 1.31% | 293,936 | $27.4M | New |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 1.25% | 363,775 | $26.2M | New |
| SPOT Spotify Technology SA | 1.06% | 29,036 | $22.3M | Add +50.5% |
| LPX Louisiana-Pacific Corp. | 0.87% | 213,436 | $18.4M | New |
| WMS Advanced Drainage Systems Inc. | 0.71% | 130,565 | $15.0M | Reduce -34.0% |
| APP AppLovin Corp. Class A | 0.68% | 40,488 | $14.2M | New |
Portfolio Sells Q1 2025 → Q2 2025
| INTU Intuit Inc. | Reduce -77.0% | 4.93% | −14.56 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −4.38 |
| BKNG Booking Holdings Inc. | Reduce -52.6% | 2.64% | −2.52 |
| VMC Vulcan Materials Co. | Reduce -30.5% | 3.17% | −1.58 |
| LYV Live Nation Entertainment Inc. | Reduce -22.6% | 4.14% | −1.24 |
| WMS Advanced Drainage Systems Inc. | Reduce -34.0% | 0.71% | −0.48 |
| AMZN Amazon.com Inc. | Reduce -6.8% | 5.57% | −0.47 |
| COF Capital One Financial Corp. | Reduce -16.6% | 1.83% | −0.32 |
| TRU Transunion | Reduce -0.2% | 3.02% | −0.30 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -8.2% | 2.50% | +0.17 |
| DASH DoorDash Inc. Class A | Reduce -3.0% | 1.90% | +0.21 |
| FLUT Flutter Entertainment PLC-Di | Reduce 0.0% | 4.28% | +0.42 |
Portfolio Buys Q1 2025 → Q2 2025
| CRM Salesforce Inc. | Add +97.4% | 18.66% | +7.83 |
| WDAY Workday Inc. Class A | Add +58.6% | 14.19% | +4.05 |
| TMUS T-Mobile US Inc. | New | 2.27% | +2.27 |
| CNM Core & Main Inc. Class A | Add +180.4% | 3.08% | +2.06 |
| XYZ Block Inc. | New | 1.77% | +1.77 |
| V Visa Inc. Class A | New | 1.69% | +1.69 |
| TTEK Tetra Tech Inc. | New | 1.62% | +1.62 |
| UBER Uber Technologies Inc. | New | 1.31% | +1.31 |
| TTD Trade Desk Inc./the Class A | New | 1.25% | +1.25 |
| LPX Louisiana-Pacific Corp. | New | 0.87% | +0.87 |
| APP AppLovin Corp. Class A | New | 0.68% | +0.68 |
| SPOT Spotify Technology SA | Add +50.5% | 1.06% | +0.47 |
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 |