StepStone Group LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), StepStone Group LP reported 22 stock positions worth $184.1 million. Its top holding was Stubhub Class A (STUB) at 55.6% of the portfolio, followed by Kodiak AI (KDK, 8.4%) and Uipath Class A (PATH, 8.0%). Compared with Q3 2025, it opened 9 new positions, sold out of 2, added to 1 and reduced 2. The biggest buy was a new position in Navan Class A (NAVN) and the biggest sale an exit from Neuehealth (NEUE).
- Most Recent 13F
- Q2 2026
- Location
- La Jolla, CA
- CIK
- 0001502287
- Portfolio Value
- $184.1M (Q4 2025)
- SEC Filing
- 0001193125-26-053625 ↗ filed Feb 17, 2026
Holdings Value
Holdings 22 stocks · $184.1M
| STUB Stubhub Holdings Inc. Class A | 55.58% | 7,562,225 | $102.3M | No change |
| KDK Kodiak AI Inc. | 8.38% | 1,412,928 | $15.4M | No change |
| PATH Uipath Inc. Class A | 8.04% | 902,973 | $14.8M | Reduce -29.8% |
| KRMN Karman Holdings Inc. | 6.75% | 877,320 | $12.4M | Add +200.0% |
| TRDA Entrada Therapeutics Inc. | 4.25% | 761,277 | $7.8M | No change |
| NAVN Navan Inc. Class A | 3.96% | 427,033 | $7.3M | New |
| DKNG Draftkings Inc. Class A | 3.01% | 160,902 | $5.5M | No change |
| PHAT Phathom Pharmaceuticals Inc. | 2.70% | 422,085 | $5.0M | No change |
| FIG Figma Inc. Class A | 1.84% | 90,436 | $3.4M | New |
| NOW ServiceNow Inc. | 1.30% | 15,592 | $2.4M | New |
| CHYM Chime Financial Inc. Class A | 1.01% | 150,000 | $1.9M | No change |
| RBRK Rubrik Inc. Class A | 0.76% | 18,393 | $1.4M | New |
| OKUR Onkure Therapeutics Inc. Class A | 0.73% | 491,938 | $1.4M | No change |
| CRCL Circle Internet Group Inc. | 0.40% | 9,352 | $742K | New |
| PDD PDD Holdings Inc. | 0.31% | 5,841 | $562K | New |
| RVMD Revolution Medicines Inc. | 0.26% | 5,971 | $476K | New |
| GROV Grove Collaborative Holdings | 0.23% | 380,702 | $419K | No change |
| VIA Via Transportation Inc. Class A | 0.22% | 16,002 | $400K | No change |
| TNYA Tenaya Therapeutics Inc. | 0.18% | 462,163 | $328K | No change |
| PAY Paymentus Holdings Inc. Class A | 0.07% | 36,468 | $127K | New |
| IOT Samsara Inc. Class A | 0.01% | 742 | $26K | Reduce -64.0% |
| OMDA Omada Health Inc. | 0.00% | 275 | $3K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $2.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 622,931 | $2.8M | No change |
Total filed on the 13F, all lines: $186.9M.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| NAVN Navan Inc. Class A | New | 3.96% | +3.96 |
| FIG Figma Inc. Class A | New | 1.84% | +1.84 |
| NOW ServiceNow Inc. | New | 1.30% | +1.30 |
| RBRK Rubrik Inc. Class A | New | 0.76% | +0.76 |
| CRCL Circle Internet Group Inc. | New | 0.40% | +0.40 |
| PDD PDD Holdings Inc. | New | 0.31% | +0.31 |
| RVMD Revolution Medicines Inc. | New | 0.26% | +0.26 |
| PAY Paymentus Holdings Inc. Class A | New | 0.07% | +0.07 |
| OMDA Omada Health Inc. | New | 0.00% | +0.00 |
| KRMN Karman Holdings Inc. | Add +200.0% | 6.75% | −3.73 |
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 |