Which funds own STEP
Stepstone Group Inc in the Q2 2026 filings. At least 1 of the 91 current managers on file reported a position, worth $232m between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.
- Managers holding
- 1
- at least, of 91 current
- Combined value
- $232m
- as reported
- Opened
- 0
- new this quarter
- Added to
- 0
- already held
- Trimmed or sold out
- 1
- 0 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Millennium Management LLC Multi-strategy · $276bn book | $232m | 0.1% | 5,619,498 | -$110m-1,553,926 | Trimmed |
Ownership through time
At least 10 of the 95 managers whose filings are on file listed STEP in Q2 2026, against 3 in Q3 2020. 1 manager more than in Q1 2026: 1 listed it again.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q3 2020: 3
- Q4 2020: 2
- Q1 2021: 2
- Q2 2021: 3
- Q3 2021: 3
- Q4 2021: 5
- Q1 2022: 3
- Q2 2022: 3
- Q3 2022: 5
- Q4 2022: 5
- Q1 2023: 4
- Q2 2023: 3
- Q3 2023: 6
- Q4 2023: 6
- Q1 2024: 6
- Q2 2024: 8
- Q3 2024: 8
- Q4 2024: 8
- Q1 2025: 10
- Q2 2025: 10
- Q3 2025: 11
- Q4 2025: 13
- Q1 2026: 9
- Q2 2026: 10
- Q3 2020: $31m
- Q4 2020: $40m
- Q1 2021: $65m
- Q2 2021: $65m
- Q3 2021: $81m
- Q4 2021: $194m
- Q1 2022: $163m
- Q2 2022: $155m
- Q3 2022: $268m
- Q4 2022: $290m
- Q1 2023: $227m
- Q2 2023: $218m
- Q3 2023: $467m
- Q4 2023: $507m
- Q1 2024: $514m
- Q2 2024: $686m
- Q3 2024: $891m
- Q4 2024: $825m
- Q1 2025: $953m
- Q2 2025: $1.1bn
- Q3 2025: $1.3bn
- Q4 2025: $1.5bn
- Q1 2026: $1.1bn
- Q2 2026: $916m
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
No manager on file started a position.
Largest increases, by shares
- Capital Research Global Investors794,883 to 1,231,923 shares+$18m
- T. Rowe Price Associates Inc4,873,759 to 5,167,251 shares+$12m
- Schonfeld Strategic Advisors LLC174,688 to 437,016 shares+$11m
- Winton Group Ltd29,522 to 42,796 shares+$549k
Largest decreases, by shares
- Millennium Management LLC7,173,424 to 5,619,498 shares-$64m
- Capital World Investors3,271,525 to 2,524,018 shares-$31m
- Balyasny Asset Management LLC1,425,899 to 1,113,093 shares-$13m
- Voloridge Investment Management LLC433,168 to 358,586 shares-$3.1m
- Wellington Management Group LLP5,240,073 to 5,189,963 shares-$2.1m
Left it
No manager on file is shown leaving it.
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Millennium Management LLC | Q3 2023 | $342m | $232m | |
| Wellington Management Group LLP | Q3 2022 | $400m | $215m | |
| T. Rowe Price Associates Inc | Q2 2024 | $336m | $214m | |
| Capital World Investors | Q3 2020 | $196m | $104m | |
| Capital Research Global Investors | Q3 2020 | $52m | $51m | |
| Balyasny Asset Management LLC | Q4 2025 | $68m | $46m | |
| Woodline Partners LP | Q4 2025 | $19m | $19m | |
| Schonfeld Strategic Advisors LLC | Q3 2022 | $20m | $18m | |
| Voloridge Investment Management LLC | Q2 2025 | $24m | $15m | |
| Winton Group Ltd | Q2 2024 | $1.8m | $1.8m | |
| AllianceBernstein LP | Q4 2021 | $111m | last listed Q4 2025 | |
| MFS Investment Management | Q1 2025 | $63m | last listed Q3 2025 | |
| Holocene Advisors LP | Q1 2024 | $35m | last listed Q4 2025 | |
| Maverick Capital Ltd | Q3 2023 | $15m | last listed Q2 2024 | |
| Hudson Bay Capital Management LP | Q4 2021 | $10m | last listed Q4 2025 | |
| Squarepoint Ops LLC | Q3 2020 | $5.3m | last listed Q3 2020 | |
| Quantbot Technologies LP | Q4 2024 | $3.7m | last listed Q1 2025 | |
| PDT Partners LLC | Q2 2021 | $3.5m | last listed Q4 2025 |
What STEP is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around STEP →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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