Fernbridge Capital Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Fernbridge Capital Management LP reported 24 stock positions worth $2.1 billion. Its top holding was Salesforce (CRM) at 20.3% of the portfolio, followed by Workday Class A (WDAY, 16.2%) and PTC (PTC, 10.8%). Compared with Q2 2025, it opened 5 new positions, sold out of 5, added to 11 and reduced 8. The biggest buy was Amazon.com (AMZN, shares +64%) and the biggest sale PTC (PTC, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001827734
- Portfolio Value
- $2.1B (Q3 2025)
- SEC Filing
- 0002073679-25-000042 ↗ filed Nov 13, 2025
Holdings Value
Holdings 24 stocks · $2.1B
| CRM Salesforce Inc. | 20.32% | 1,759,109 | $416.9M | Add +22.4% |
| WDAY Workday Inc. Class A | 16.22% | 1,382,293 | $332.8M | Add +11.3% |
| PTC PTC Inc. | 10.82% | 1,093,360 | $222.0M | Reduce -46.8% |
| AMZN Amazon.com Inc. | 9.34% | 873,314 | $191.8M | Add +63.7% |
| LPX Louisiana-Pacific Corp. | 3.55% | 820,755 | $72.9M | Add +284.5% |
| VMC Vulcan Materials Co. | 3.49% | 232,566 | $71.5M | Reduce -8.8% |
| LYV Live Nation Entertainment Inc. | 3.44% | 431,935 | $70.6M | Reduce -24.9% |
| V Visa Inc. Class A | 2.95% | 177,206 | $60.5M | Add +77.8% |
| BKNG Booking Holdings Inc. | 2.79% | 10,604 | $57.3M | Add +10.6% |
| INTU Intuit Inc. | 2.62% | 78,596 | $53.7M | Reduce -40.3% |
| APP AppLovin Corp. Class A | 2.59% | 74,099 | $53.2M | Add +83.0% |
| NFLX Netflix Inc. | 2.51% | 42,905 | $51.4M | New |
| FLUT Flutter Entertainment PLC-Di | 2.21% | 178,577 | $45.4M | Reduce -43.2% |
| COF Capital One Financial Corp. | 2.13% | 205,687 | $43.7M | Add +13.8% |
| XYL Xylem Inc. | 2.03% | 282,762 | $41.7M | New |
| SPOT Spotify Technology SA | 2.01% | 59,134 | $41.3M | Add +103.7% |
| CNM Core & Main Inc. Class A | 1.98% | 756,635 | $40.7M | Reduce -29.4% |
| TSM Taiwan Semiconductor-SP ADR | 1.94% | 142,260 | $39.7M | Reduce -38.5% |
| TTEK Tetra Tech Inc. | 1.65% | 1,015,666 | $33.9M | Add +7.7% |
| UBER Uber Technologies Inc. | 1.63% | 341,981 | $33.5M | Add +16.4% |
| CHTR Charter Communications Inc. Class A | 1.23% | 91,887 | $25.3M | New |
| GOOGL Alphabet Inc. Class A | 1.02% | 86,275 | $21.0M | New |
| TMUS T-Mobile US Inc. | 1.01% | 86,965 | $20.8M | Reduce -56.6% |
| DKNG Draftkings Inc. Class A | 0.51% | 279,860 | $10.5M | New |
Portfolio Sells Q2 2025 → Q3 2025
| PTC PTC Inc. | Reduce -46.8% | 10.82% | −6.05 |
| TRU Transunion | Sold out | 0.00% | −3.02 |
| INTU Intuit Inc. | Reduce -40.3% | 2.62% | −2.32 |
| FLUT Flutter Entertainment PLC-Di | Reduce -43.2% | 2.21% | −2.07 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −1.90 |
| XYZ Block Inc. | Sold out | 0.00% | −1.77 |
| TMUS T-Mobile US Inc. | Reduce -56.6% | 1.01% | −1.26 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −1.25 |
| CNM Core & Main Inc. Class A | Reduce -29.4% | 1.98% | −1.09 |
| WMS Advanced Drainage Systems Inc. | Sold out | 0.00% | −0.71 |
| LYV Live Nation Entertainment Inc. | Reduce -24.9% | 3.44% | −0.70 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -38.5% | 1.94% | −0.56 |
| VMC Vulcan Materials Co. | Reduce -8.8% | 3.49% | +0.32 |
Portfolio Buys Q2 2025 → Q3 2025
| AMZN Amazon.com Inc. | Add +63.7% | 9.34% | +3.77 |
| LPX Louisiana-Pacific Corp. | Add +284.5% | 3.55% | +2.68 |
| NFLX Netflix Inc. | New | 2.51% | +2.51 |
| XYL Xylem Inc. | New | 2.03% | +2.03 |
| WDAY Workday Inc. Class A | Add +11.3% | 16.22% | +2.03 |
| APP AppLovin Corp. Class A | Add +83.0% | 2.59% | +1.92 |
| CRM Salesforce Inc. | Add +22.4% | 20.32% | +1.66 |
| V Visa Inc. Class A | Add +77.8% | 2.95% | +1.26 |
| CHTR Charter Communications Inc. Class A | New | 1.23% | +1.23 |
| GOOGL Alphabet Inc. Class A | New | 1.02% | +1.02 |
| SPOT Spotify Technology SA | Add +103.7% | 2.01% | +0.95 |
| DKNG Draftkings Inc. Class A | New | 0.51% | +0.51 |
| UBER Uber Technologies Inc. | Add +16.4% | 1.63% | +0.33 |
| COF Capital One Financial Corp. | Add +13.8% | 2.13% | +0.30 |
| BKNG Booking Holdings Inc. | Add +10.6% | 2.79% | +0.15 |
| TTEK Tetra Tech Inc. | Add +7.7% | 1.65% | +0.04 |
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 |