SCHEDULE: T. Rowe Price Discloses 5.6% Stake in StepStone Group

T. Rowe Price Associates, Inc. has filed an amended Schedule 13G, reporting a 5.6% beneficial ownership in StepStone Group Inc-Class A common stock as of September 30, 2025.

Summary

• T. Rowe Price Associates, Inc. reported beneficial ownership of 4,378,783 shares of StepStone Group Inc-Class A common stock.
• This represents 5.6% of the class of securities.
• The filing is an Amendment No. 2 to Schedule 13G, filed under Rule 13d-1(b).
• The event date requiring this filing was September 30, 2025.
• T. Rowe Price Associates, Inc. holds sole voting power over 4,278,892 shares and sole dispositive power over 4,378,465 shares.

Sentiment

Score: 5

Explanation: Neutral. This is a routine amendment to a beneficial ownership report, confirming an institutional investor's continued stake without providing new performance or operational insights.

Positives

• Confirms T. Rowe Price Associates, Inc. maintains a significant institutional stake in StepStone Group Inc-Class A, indicating continued investment by a major asset manager.

Negatives

• No specific negative information is disclosed in this routine beneficial ownership report.

Future Outlook

NA

Industry Context

This is a routine disclosure by a large institutional investment adviser, T. Rowe Price, indicating its stake in StepStone Group, an alternative asset manager. Such filings are common and reflect ongoing portfolio management activities by major investment firms.

Stakeholder Impact

• Primarily impacts shareholders by providing transparency on significant institutional holdings.

Key Dates

Keywords

T. Rowe Price, StepStone Group, Schedule 13G, Institutional Ownership, Common Stock, Investment Adviser, Beneficial Ownership, Asset Management