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StepStone Group
STEP

260 hedge funds and large institutions have $5.11B invested in StepStone Group in 2025 Q4 according to their latest regulatory filings, with 37 funds opening new positions, 108 increasing their positions, 75 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more repeat investments, than reductions

Existing positions increased: 108 | Existing positions reduced: 75

23% more first-time investments, than exits

New positions opened: 37 | Existing positions closed: 30

6.46% more ownership

Funds ownership: 94.15% → 100.6% (+6.5%)

6% more capital invested

Capital invested by funds: $4.83B → $5.11B (+$279M)

1% more funds holding

Funds holding: 257 → 260 (+3)

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $314K

Holders
260
Holders Change
+3
Holders Change %
+1.17%
% of All Funds
3.16%
Holding in Top 10
2
Holding in Top 10 Change
+2
Holding in Top 10 Change %
% of All Funds
0.02%
New
37
Increased
108
Reduced
75
Closed
30
Calls
–
Puts
$314K
Net Calls
-$314K
Net Calls Change
+$1.85M

Top Buyers

1
Vanguard Group
Vanguard Group
Pennsylvania
+$46.1M
2
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$45.8M
3
Millennium Management
Millennium Management
New York
+$35.5M
4
Holocene Advisors
Holocene Advisors
New York
+$33.5M
5
Wellington Management Group
Wellington Management Group
Massachusetts
+$31.9M

Top Sellers

1
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$55.1M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$50.7M
3
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$32M
4
Grantham, Mayo, Van Otterloo & Co (GMO)
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
-$15.6M
5
UBS Group
UBS Group
Switzerland
-$15.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
BlackRock
1
BlackRock
New York
$682M +$22.4M +353,636 +3%
Vanguard Group
2
Vanguard Group
Pennsylvania
$542M +$46.1M +728,410 +9%
Wellington Management Group
3
Wellington Management Group
Massachusetts
$400M +$31.9M +504,680 +9%
T. Rowe Price Associates
4
T. Rowe Price Associates
Maryland
$327M +$45.8M +724,201 +17%
Millennium Management
5
Millennium Management
New York
$286M +$35.5M +561,176 +14%
PWA
6
Pitcairn Wealth Advisors
Pennsylvania
$259M +$256M +4,040,795 New
Invesco
7
Invesco
Georgia
$257M -$8.39M -132,674 -3%
Capital World Investors
8
Capital World Investors
California
$196M +$6M +94,819 +3%
State Street
9
State Street
Massachusetts
$177M -$113K -1,789 -0.1%
Geode Capital Management
10
Geode Capital Management
Massachusetts
$114M +$3.33M +52,713 +3%
Citadel Advisors
11
Citadel Advisors
Florida
$103M +$5.67M +89,738 +6%
Franklin Resources
12
Franklin Resources
California
$75.9M +$513K +8,111 +0.7%
AllianceBernstein
13
AllianceBernstein
Tennessee
$75.2M -$2.87M -45,349 -4%
JP Morgan Chase
14
JP Morgan Chase
New York
$74.8M -$13.3M -210,236 -15%
Fidelity Investments
15
Fidelity Investments
Massachusetts
$66.1M -$50.7M -801,515 -44%
T. Rowe Price Investment Management
16
T. Rowe Price Investment Management
Maryland
$58.9M -$55.1M -871,140 -49%
WA
17
Wasatch Advisors
Utah
$58.9M -$13.6M -215,564 -19%
FAM
18
Fred Alger Management
New York
$58.1M +$2.89M +45,667 +5%
CIBC Private Wealth Group
19
CIBC Private Wealth Group
Georgia
$57.7M -$2.2M -34,749 -4%
Raymond James Financial
20
Raymond James Financial
Florida
$51.6M +$2.99M +47,213 +6%
Ameriprise
21
Ameriprise
Minnesota
$51.6M +$3.39M +53,653 +7%
Capital Research Global Investors
22
Capital Research Global Investors
California
$51M – – –
Morgan Stanley
23
Morgan Stanley
New York
$50.9M +$15.7M +248,931 +46%
Westfield Capital Management
24
Westfield Capital Management
Massachusetts
$50.5M +$492K +7,773 +1%
BAMCO Inc
25
BAMCO Inc
New York
$46.9M +$8.36M +132,267 +22%
1
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STEP Hedge Fund Activity: Q4 2025 in Review

260 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in StepStone Group (STEP) for Q4 2025, worth a combined $5.11B — up 5.8% from $4.83B a quarter earlier.

Buyers outnumbered sellers: 37 funds opened new STEP positions and 30 closed out — a net gain of 7 holders — while 108 added to existing stakes and 75 trimmed.

The largest buyer was Vanguard Group, adding an estimated $46.1M. The largest seller was T. Rowe Price Investment Management, cutting an estimated $55.1M.

  • 260 institutional investors held StepStone Group (STEP) as of Q4 2025, up from 257 in Q3 2025.
  • Funds reported $5.11B of StepStone Group stock for Q4 2025, up 5.8% quarter-over-quarter.
  • 37 funds opened new StepStone Group positions in Q4 2025 and 30 closed out, a net change of +7 holders.
  • The largest StepStone Group buyer in Q4 2025 was Vanguard Group, an estimated $46.1M added.
  • The largest StepStone Group seller in Q4 2025 was T. Rowe Price Investment Management, an estimated $55.1M sold.

Based on aggregated 13F filings for Q4 2025.