Sea Cliff Partners Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Sea Cliff Partners Management, LP reported 15 stock positions worth $261.4 million. Its top holding was Brightspring Health Services (BTSG) at 13.2% of the portfolio, followed by Planet Fitness Class A (PLNT, 8.3%) and Udemy (UDMY, 8.0%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 6 and reduced 8. The biggest buy was a new position in Wesco International (WCC) and the biggest sale an exit from JBT Marel (JBTM).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0002011655
- Portfolio Value
- $261.4M (Q3 2025)
- SEC Filing
- 0001420506-25-003278 ↗ filed Nov 14, 2025
Holdings Value
Holdings 15 stocks · $261.4M
| BTSG Brightspring Health Services | 13.23% | 1,170,000 | $34.6M | Reduce -29.1% |
| PLNT Planet Fitness Inc. Class A | 8.34% | 210,000 | $21.8M | Add +13.0% |
| UDMY Udemy Inc. | 7.98% | 2,973,718 | $20.8M | Reduce -8.7% |
| CWAN Clearwater Analytics HDS-A | 7.60% | 1,101,680 | $19.9M | Add +86.7% |
| OKTA Okta Inc. | 7.53% | 214,500 | $19.7M | Add +2.5% |
| HXL Hexcel Corp. | 7.08% | 295,000 | $18.5M | Reduce -31.0% |
| PTC PTC Inc. | 6.81% | 87,680 | $17.8M | Reduce -33.1% |
| WCC Wesco International Inc. | 6.68% | 82,503 | $17.4M | New |
| CZR Caesars Entertainment Inc. | 6.28% | 607,700 | $16.4M | Reduce -10.0% |
| CNM Core & Main Inc. Class A | 5.71% | 277,000 | $14.9M | Reduce -10.7% |
| CXM Sprinklr Inc. Class A | 5.59% | 1,892,408 | $14.6M | Reduce -12.7% |
| GDDY GoDaddy Inc. Class A | 5.50% | 105,000 | $14.4M | Add +14.1% |
| EVH Evolent Health Inc. Class A | 4.75% | 1,466,867 | $12.4M | Add +18.9% |
| JHX James Hardie Ind PLC | 4.63% | 630,000 | $12.1M | Reduce -30.6% |
| MORN Morningstar Inc. | 2.31% | 26,000 | $6.0M | Add +8.3% |
Portfolio Sells Q2 2025 → Q3 2025
| JBTM JBT Marel Corp. | Sold out | 0.00% | −4.10 |
| JHX James Hardie Ind PLC | Reduce -30.6% | 4.63% | −3.70 |
| HXL Hexcel Corp. | Reduce -31.0% | 7.08% | −1.16 |
| PTC PTC Inc. | Reduce -33.1% | 6.81% | −0.89 |
| CNM Core & Main Inc. Class A | Reduce -10.7% | 5.71% | −0.67 |
| CXM Sprinklr Inc. Class A | Reduce -12.7% | 5.59% | −0.66 |
| CZR Caesars Entertainment Inc. | Reduce -10.0% | 6.28% | −0.25 |
| BTSG Brightspring Health Services | Reduce -29.1% | 13.23% | −0.05 |
| UDMY Udemy Inc. | Reduce -8.7% | 7.98% | +0.17 |
Portfolio Buys Q2 2025 → Q3 2025
| WCC Wesco International Inc. | New | 6.68% | +6.68 |
| CWAN Clearwater Analytics HDS-A | Add +86.7% | 7.60% | +3.18 |
| PLNT Planet Fitness Inc. Class A | Add +13.0% | 8.34% | +1.43 |
| OKTA Okta Inc. | Add +2.5% | 7.53% | +0.40 |
| EVH Evolent Health Inc. Class A | Add +18.9% | 4.75% | +0.01 |
| GDDY GoDaddy Inc. Class A | Add +14.1% | 5.50% | −0.15 |
| MORN Morningstar Inc. | Add +8.3% | 2.31% | −0.26 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $225.5M | BTSG, LTH, WCC, OKTA, JHX |
| Q1 2026 | 13 | $193.7M | BTSG, WCC, LTH, OKTA, ITGR |
| Q4 2025 | 13 | $237.3M | BTSG, WCC, PLNT, HXL, JHX |
| Q3 2025 | 15 | $261.4M | BTSG, PLNT, UDMY, CWAN, OKTA |
| Q2 2025 | 15 | $293.3M | BTSG, JHX, HXL, UDMY, PTC |
| Q1 2025 | 15 | $278.4M | BTSG, UDMY, AZEK, GDDY, HXL |
| Q4 2024 | 15 | $288.3M | BTSG, UDMY, JBTM, HXL, AZEK |
| Q3 2024 | 15 | $298.3M | NABL, NICE, UDMY, COTY, AZEK |
| Q2 2024 | 14 | $292.2M | NABL, UDMY, GDDY, RCM, COTY |
| Q1 2024 | 15 | $304.4M | NICE, UDMY, GDDY, COTY, MSGS |