In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), StepStone Group LP reported 15 stock positions worth $201.5 million . Its top holding was Stubhub Class A (STUB) at 63.2% of the portfolio, followed by Karman (KRMN, 10.5% ) and Uipath Class A (PATH, 8.5% ). Compared with Q2 2025, it opened 6 new positions, sold out of 5 and reduced 2. The biggest buy was a new position in Stubhub Class A (STUB) and the biggest sale Draftkings Class A (DKNG, shares −25% ).
Location La Jolla, CA
CIK 0001502287
Portfolio Value $201.5M (Q3 2025) Holdings 15 stocks · $201.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 STUB Stubhub Holdings Inc. Class A 7,562,225 $127.3M New KRMN Karman Holdings Inc. 292,428 $21.1M New PATH Uipath Inc. Class A 1,286,527 $17.2M No change KDK Kodiak AI Inc. 1,412,928 $9.7M New DKNG Draftkings Inc. Class A 160,902 $6.0M Reduce -25.0% PHAT Phathom Pharmaceuticals Inc. 422,085 $5.0M No change TRDA Entrada Therapeutics Inc. 761,277 $4.4M No change NEUE Neuehealth Inc. 525,247 $3.5M No change CHYM Chime Financial Inc. Class A 150,000 $3.0M New OKUR Onkure Therapeutics Inc. Class A 491,938 $1.4M No change VIA Via Transportation Inc. Class A 16,002 $769K New TNYA Tenaya Therapeutics Inc. 462,163 $749K No change MDB Mongodb Inc. 2,217 $688K New GROV Grove Collaborative Holdings 380,702 $571K No change IOT Samsara Inc. Class A 2,060 $77K Reduce -83.1%
Other holdings (1): bonds, preferreds, convertibles and warrants · $11.2M (not counted above) Security Class Shares / Principal Value Change GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 622,931 $11.2M New
Total filed on the 13F, all lines: $212.7M.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ DKNG Draftkings Inc. Class A Reduce -25.0% 2.99% −15.26 RBRK Rubrik Inc. Class A Sold out 0.00% −10.69 HLVX Hillevax Inc. Sold out 0.00% −3.26 PAY Paymentus Holdings Inc. Class A Sold out 0.00% −2.57 CXM Sprinklr Inc. Class A Sold out 0.00% −1.26 PDD PDD Holdings Inc. Sold out 0.00% −1.24 IOT Samsara Inc. Class A Reduce -83.1% 0.04% −0.92
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ STUB Stubhub Holdings Inc. Class A New 63.21% +63.21 KRMN Karman Holdings Inc. New 10.48% +10.48 KDK Kodiak AI Inc. New 4.80% +4.80 CHYM Chime Financial Inc. Class A New 1.50% +1.50 VIA Via Transportation Inc. Class A New 0.38% +0.38 MDB Mongodb Inc. New 0.34% +0.34
Notes & Other Activity Q2 2025 → Q3 2025 Security Class Change vs Q2 2025 Shares / Principal Value ▼ GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 New 622,931 $11.2M
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 22 $2.2B SPCX, STUB, CBRS, XNDU, TMS Q1 2026 17 $207.2M KRMN, STUB, XNDU, OKUR, PATH Q4 2025 22 $184.1M STUB, KDK, PATH, KRMN, TRDA Q3 2025 15 $201.5M STUB, KRMN, PATH, KDK, DKNG Q2 2025 14 $50.4M PATH, DKNG, RBRK, TRDA, PHAT Q1 2025 16 $97.4M ML, PATH, DKNG, TRDA, NEUE Q4 2024 14 $114.4M ML, PATH, TRDA, DKNG, OKUR Q3 2024 14 $274.1M DNB, ML, RBLX, RKLB, PATH Q2 2024 16 $493.1M DNB, WKME, ML, RKLB, RBLX Q1 2024 21 $471.6M DNB, WKME, ML, RKLB, PATH