Sea Cliff Partners Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Sea Cliff Partners Management, LP reported 13 stock positions worth $237.3 million. Its top holding was Brightspring Health Services (BTSG) at 16.1% of the portfolio, followed by Wesco International (WCC, 9.9%) and Planet Fitness Class A (PLNT, 9.4%). Compared with Q3 2025, it opened 3 new positions, sold out of 5, added to 5 and reduced 5. The biggest buy was a new position in Life Time (LTH) and the biggest sale an exit from Clearwater Analytics HDS-A (CWAN).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0002011655
- Portfolio Value
- $237.3M (Q4 2025)
- SEC Filing
- 0001420506-26-000487 ↗ filed Feb 17, 2026
Holdings Value
Holdings 13 stocks · $237.3M
| BTSG Brightspring Health Services | 16.10% | 1,019,887 | $38.2M | Reduce -12.8% |
| WCC Wesco International Inc. | 9.90% | 96,000 | $23.5M | Add +16.4% |
| PLNT Planet Fitness Inc. Class A | 9.37% | 205,000 | $22.2M | Reduce -2.4% |
| HXL Hexcel Corp. | 9.21% | 295,855 | $21.9M | Add +0.3% |
| JHX James Hardie Ind PLC | 8.73% | 998,770 | $20.7M | Add +58.5% |
| UDMY Udemy Inc. | 7.87% | 3,193,686 | $18.7M | Add +7.4% |
| GDDY GoDaddy Inc. Class A | 7.27% | 138,935 | $17.2M | Add +32.3% |
| OKTA Okta Inc. | 7.18% | 197,000 | $17.0M | Reduce -8.2% |
| CNM Core & Main Inc. Class A | 5.97% | 272,699 | $14.2M | Reduce -1.6% |
| LTH Life Time Group Holdings Inc. | 5.23% | 467,100 | $12.4M | New |
| ITGR Integer Holdings Corp. | 4.40% | 132,972 | $10.4M | New |
| SGRY Surgery Partners Inc. | 4.38% | 673,351 | $10.4M | New |
| CXM Sprinklr Inc. Class A | 4.37% | 1,334,112 | $10.4M | Reduce -29.5% |
Portfolio Sells Q3 2025 → Q4 2025
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −7.60 |
| PTC PTC Inc. | Sold out | 0.00% | −6.81 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −6.28 |
| EVH Evolent Health Inc. Class A | Sold out | 0.00% | −4.75 |
| MORN Morningstar Inc. | Sold out | 0.00% | −2.31 |
| CXM Sprinklr Inc. Class A | Reduce -29.5% | 4.37% | −1.22 |
| OKTA Okta Inc. | Reduce -8.2% | 7.18% | −0.35 |
| CNM Core & Main Inc. Class A | Reduce -1.6% | 5.97% | +0.27 |
| PLNT Planet Fitness Inc. Class A | Reduce -2.4% | 9.37% | +1.03 |
| BTSG Brightspring Health Services | Reduce -12.8% | 16.10% | +2.87 |
Portfolio Buys Q3 2025 → Q4 2025
| LTH Life Time Group Holdings Inc. | New | 5.23% | +5.23 |
| ITGR Integer Holdings Corp. | New | 4.40% | +4.40 |
| SGRY Surgery Partners Inc. | New | 4.38% | +4.38 |
| JHX James Hardie Ind PLC | Add +58.5% | 8.73% | +4.10 |
| WCC Wesco International Inc. | Add +16.4% | 9.90% | +3.22 |
| HXL Hexcel Corp. | Add +0.3% | 9.21% | +2.14 |
| GDDY GoDaddy Inc. Class A | Add +32.3% | 7.27% | +1.77 |
| UDMY Udemy Inc. | Add +7.4% | 7.87% | −0.10 |
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 |