Stepstone Group LP is an SEC-registered investment adviser based in La Jolla, CA that reports managing 1 hedge fund on Form ADV. It reports $107.8 billion in regulatory assets under management. Its private funds, of all types, hold $123.3 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated -26.7% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated -9.9% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $107.8 billionForm ADV Item 5.F
- Gross assets of private funds
- $123.3 billionAll private fund types, Form ADV
- Hedge funds managed
- 1409 private funds in total
- Employees
- 978Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 143635
- Latest Form ADV
- 07/30/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
Est. 2026 YTD-26.7%Through Q2 2026 · S&P 500 +9.5%
Est. 2-year return-9.9%Q3 2024 – Q2 2026
S&P 500+37.2%Same quarters, price only
13F holdings$2.2 billion23 positions, 2026-06-30
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +19.4% | +14.8% |
| Q1 2026 | -38.6% | -4.6% |
| Q4 2025 | -6.7% | +2.4% |
| Q3 2025 | +0.0% | +7.8% |
| Q2 2025 | +4.8% | +10.4% |
| Q1 2025 | -12.4% | -4.5% |
| Q4 2024 | +27.5% | +2.1% |
| Q3 2024 | +12.5% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- 84615q103$1.9 billion
- Stubhub Holdings Inc CL A$97.3 million
- 15675d103$75.2 million
- 98390r102$41.4 million
- 87821b109$16.4 million
- Onkure Therapeutics Inc$12.1 million
- Karman Hldgs Inc$12.0 million
- Kodiak Ai Inc.$7.2 million
- Entrada Therapeutics Inc$5.6 million
- 282564103$5.2 million
As of 2026-06-30, from 13F filing by StepStone Group LP.
Private equity funds filing Form D (42)
Fund
First sale
Raised
Investors
Minimum
Offering
StepStone VC Secondaries Fund VII (Lux) SCSp, SICAV-RAIF
Munsbach, LuxembourgOffshore
First saleJun 2026
Raised$1.8B
Investors1
Minimum$81.1M
Offering506(b)
StepStone VC Secondaries Fund VII (Lux Feeder) SCSp, SICAV-RAIF
Munsbach, LuxembourgOffshore
First saleJun 2026
Raised$1.8B
Investors14
Minimum$30K
Offering506(b)
StepStone VC Secondaries Fund VII ND (Cayman) LP
Grand Cayman, Cayman IslandsOffshore
First sale—
Raised$1.8B
Investors0
MinimumNone set
Offering506(b)
StepStone VC Secondaries Fund VII ND LP
Owings Mills, MD
First sale—
Raised$1.8B
Investors0
MinimumNone set
Offering506(b)
StepStone VC Secondaries Fund VII-K LP
Owings Mills, MD
First saleJun 2026
Raised$1.8B
Investors1
Minimum$40.0M
Offering506(b)
StepStone VC Secondaries Fund VII-I (Cayman) LP
Grand Cayman, Cayman IslandsOffshore
First saleJun 2026
Raised$1.8B
Investors5
Minimum$30K
Offering506(b)
StepStone VC Secondaries Fund VII-I LP
Owings Mills, MD
First saleJun 2026
Raised$1.8B
Investors1
Minimum$86.0M
Offering506(b)
StepStone VC Secondaries Fund VII (Cayman) LP
Grand Cayman, Cayman IslandsOffshore
First saleApr 2026
Raised$1.8B
Investors95
Minimum$10K
Offering506(b)
StepStone VC Secondaries Fund VII LP
Owings Mills, MD
First saleApr 2026
Raised$1.8B
Investors194
Minimum$20K
Offering506(b)
StepStone VC Secondaries Fund VII-M (Cayman) LP
Grand Cayman, Cayman IslandsOffshore
First saleApr 2026
Raised$1.0B
Investors68
MinimumNone set
Offering506(b)
StepStone VC Global Partners XII (Lux Feeder) SCSp, SICAV-RAIF
Owings Mills, MD
First saleJun 2025
Raised$834M
Investors4
Minimum$10K
Offering506(b)
StepStone VC Global Partners XII ND LP
Owings Mills, MD
First sale—
Raised$834M
Investors0
MinimumNone set
Offering506(b)
StepStone Secondaries Infrastructure Fund Parallel, L.P.
Grand Cayman, Cayman IslandsOffshore
First saleApr 2024
Raised$464M
Investors19
MinimumNone set
Offering506(b)
StepStone Secondaries Infrastructure Fund Europe, SCSp SICAV-RAIF
Munsbach, LuxembourgOffshore
First saleAug 2024
Raised$333M
Investors40
MinimumNone set
Offering506(b)
StepStone Secondaries Infrastructure Fund Europe (Euro Feeder), SCSp SICAV-RAIF
Munsbach, LuxembourgOffshore
First saleAug 2024
Raised$223M
Investors10
MinimumNone set
Offering506(b)
StepStone HB Real Estate Opportunities Fund, L.P.
La Jolla, CA
First saleMay 2026
Raised$175M
Investors1
MinimumNone set
Offering506(b)
StepStone VC Micro V LP
La Jolla, CA
First saleJun 2024
Raised$157M
Investors30
MinimumNone set
Offering506(b)
StepStone VC Early Stage III, L.P.
La Jolla, CA
First saleNov 2022
Raised$145M
Investors66
MinimumNone set
Offering506(b)
StepStone VC Wabash Fund LP
La Jolla, CA
First saleDec 2022
Raised$120M
Investors1
MinimumNone set
Offering506(b)
StepStone Secondaries Infrastructure Fund, L.P.
La Jolla, CA
First saleApr 2024
Raised$116M
Investors9
MinimumNone set
Offering506(b)
StepStone VC Micro V (Cayman) LP
La Jolla, CA
First saleJun 2024
Raised$56.6M
Investors7
MinimumNone set
Offering506(b)
StepStone Climate Fund Parallel, LP
La Jolla, CAEmerging
First saleFeb 2024
Raised$49.5M
Investors14
MinimumNone set
Offering506(b)
StepStone Climate Fund
Munsbach, LuxembourgEmergingOffshore
First saleFeb 2024
Raised$42.8M
Investors11
MinimumNone set
Offering506(b)
StepStone VC Blockchain II, L.P.
Owings Mills, MDEmerging
First saleJul 2025
Raised$22.3M
Investors57
MinimumNone set
Offering506(b)
StepStone VC Early Stage III (Cayman), L.P.
La Jolla, CAEmerging
First saleNov 2022
Raised$8.9M
Investors9
MinimumNone set
Offering506(b)
StepStone VC Blockchain II (Cayman), L.P.
La Jolla, CAEmerging
First saleJul 2025
Raised$2.7M
Investors18
MinimumNone set
Offering506(b)
SSG 2026 VC Secondaries Investments, L.P.
Owings Mills, MD
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone SISS Infrastructure Opportunities Partnership, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone NLGI Infrastructure Opportunities Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Amitim Infrastructure Opportunities Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Puma Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone IP Infrastructure Opportunities Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Flintholm Infrastructure Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Andy Infrastructure Opportunities Fund, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Peregrine Blocker Aggregator, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone VC Wabash Fund II LP
Owings Mills, MD
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone Acorn Opportunities Fund L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone L Global Infrastructure SMA, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone VC F-III LP
Owings Mills, MD
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone NJ Real Estate SMA, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone NJ Real Assets SMA, L.P.
La Jolla, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
StepStone VC 2023-AGVII LP
Owings Mills, MD
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures