Data as of Q4 2025 (Dec 31, 2025)

StepStone Group LP

•CIK: 1502287•Filing: Q4 2025

**StepStone Group LP** manages $187M across a concentrated portfolio of 23 positions. The fund exhibits significant conviction in select names, with STUB representing the largest allocation at $102.3M. Further notable holdings include KDK ($15.4M) and PATH ($14.8M), indicating a focused, high-conviction investment approach. This structure suggests an active mandate targeting substantial upside within its core equity positions.

Total AUM
$186.9M
QoQ Performance
-12.1%
Positions
23
Top 10 Concentration
94.6%
Latest Filing
Q4 2025

Top Holdings Allocation

STUB
KDK
PATH
KRMN
STUB54.7%
KDK8.3%
PATH7.9%
KRMN6.7%
TRDA4.2%
NAVN3.9%
DKNG3.0%
PHAT2.7%

📈 Biggest Buys

KRMN
KARMAN HOLDINGS INC.
+200.0%
6.7% of portfolio
NAVN
NAVAN INC
NEW
3.9% of portfolio
FIG
FIGMA INC
NEW
1.8% of portfolio
NOW
SERVICENOW INC
NEW
1.3% of portfolio
RBRK
RUBRIK INC
NEW
0.8% of portfolio

📉 Biggest Sells

PATH
UIPATH, INC.
-29.8%
7.9% of portfolio
IOT
SAMSARA INC.
-64.0%
0.0% of portfolio

Sector Breakdown

Other100.0%

🚪 Exited Positionssold since Q3 2025

—
NEUEHEALTH INC.
SOLD
$3.5M
MDB
MONGODB INC
SOLD
$688.1K

Changes from Q3 2025

NEW9 new positions
↑1 increased
↓2 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

STUB54.7%
STUBHUB HOLDINGS INC
$102.3M
KDK8.3%
KODIAK AI, INC.
$15.4M
PATH7.9%
UIPATH, INC.
$14.8M
KRMN6.7%
KARMAN HOLDINGS INC.
$12.4M
TRDA4.2%
ENTRADA THERAPEUTICS, INC.
$7.8M

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