Fernbridge Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Fernbridge Capital Management LP reported 20 stock positions worth $2.0 billion. Its top holding was Salesforce (CRM) at 22.9% of the portfolio, followed by Workday Class A (WDAY, 14.8%) and Amazon.com (AMZN, 10.9%). Compared with Q3 2025, it opened 1 new position, sold out of 5, added to 14 and reduced 4. The biggest buy was Tetra Tech (TTEK, shares +202%) and the biggest sale an exit from Vulcan Materials (VMC).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001827734
- Portfolio Value
- $2.0B (Q4 2025)
- SEC Filing
- 0002073679-26-000026 ↗ filed Feb 17, 2026
Holdings Value
Holdings 20 stocks · $2.0B
| CRM Salesforce Inc. | 22.89% | 1,759,109 | $466.0M | No change |
| WDAY Workday Inc. Class A | 14.83% | 1,406,150 | $302.0M | Add +1.7% |
| AMZN Amazon.com Inc. | 10.90% | 961,047 | $221.8M | Add +10.1% |
| PTC PTC Inc. | 10.49% | 1,225,478 | $213.5M | Add +12.1% |
| TTEK Tetra Tech Inc. | 5.05% | 3,066,841 | $102.9M | Add +201.9% |
| V Visa Inc. Class A | 4.17% | 241,807 | $84.8M | Add +36.5% |
| CNM Core & Main Inc. Class A | 3.95% | 1,546,500 | $80.4M | Add +104.4% |
| LPX Louisiana-Pacific Corp. | 3.57% | 900,048 | $72.7M | Add +9.7% |
| INTU Intuit Inc. | 3.07% | 94,321 | $62.5M | Add +20.0% |
| COF Capital One Financial Corp. | 3.03% | 254,517 | $61.7M | Add +23.7% |
| BKNG Booking Holdings Inc. | 2.80% | 10,637 | $57.0M | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 2.69% | 180,401 | $54.8M | Add +26.8% |
| XYL Xylem Inc. | 2.21% | 330,627 | $45.0M | Add +16.9% |
| SPOT Spotify Technology SA | 2.15% | 75,330 | $43.7M | Add +27.4% |
| TMUS T-Mobile US Inc. | 2.11% | 211,337 | $42.9M | Add +143.0% |
| LYV Live Nation Entertainment Inc. | 2.02% | 288,367 | $41.1M | Reduce -33.2% |
| APP AppLovin Corp. Class A | 1.40% | 42,229 | $28.5M | Reduce -43.0% |
| XYZ Block Inc. | 1.39% | 435,815 | $28.4M | New |
| UBER Uber Technologies Inc. | 0.79% | 196,312 | $16.0M | Reduce -42.6% |
| NFLX Netflix Inc. | 0.50% | 109,370 | $10.3M | Reduce -74.5% |
Portfolio Sells Q3 2025 → Q4 2025
| VMC Vulcan Materials Co. | Sold out | 0.00% | −3.49 |
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −2.21 |
| NFLX Netflix Inc. | Reduce -74.5% | 0.50% | −2.00 |
| LYV Live Nation Entertainment Inc. | Reduce -33.2% | 2.02% | −1.42 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −1.23 |
| APP AppLovin Corp. Class A | Reduce -43.0% | 1.40% | −1.20 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −1.02 |
| UBER Uber Technologies Inc. | Reduce -42.6% | 0.79% | −0.84 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.51 |
Portfolio Buys Q3 2025 → Q4 2025
| TTEK Tetra Tech Inc. | Add +201.9% | 5.05% | +3.40 |
| CNM Core & Main Inc. Class A | Add +104.4% | 3.95% | +1.96 |
| AMZN Amazon.com Inc. | Add +10.1% | 10.90% | +1.55 |
| XYZ Block Inc. | New | 1.39% | +1.39 |
| V Visa Inc. Class A | Add +36.5% | 4.17% | +1.22 |
| TMUS T-Mobile US Inc. | Add +143.0% | 2.11% | +1.09 |
| COF Capital One Financial Corp. | Add +23.7% | 3.03% | +0.90 |
| TSM Taiwan Semiconductor-SP ADR | Add +26.8% | 2.69% | +0.76 |
| INTU Intuit Inc. | Add +20.0% | 3.07% | +0.45 |
| XYL Xylem Inc. | Add +16.9% | 2.21% | +0.18 |
| SPOT Spotify Technology SA | Add +27.4% | 2.15% | +0.14 |
| LPX Louisiana-Pacific Corp. | Add +9.7% | 3.57% | +0.02 |
| BKNG Booking Holdings Inc. | Add +0.3% | 2.80% | +0.01 |
| PTC PTC Inc. | Add +12.1% | 10.49% | −0.33 |
| WDAY Workday Inc. Class A | Add +1.7% | 14.83% | −1.38 |
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 |