SCHEDULE: Vanguard Reports 10.67% Stake in StepStone Group

Investment giant The Vanguard Group has reported a 10.67% beneficial ownership stake in StepStone Group Inc. as of December 31, 2025.

Summary

• The Vanguard Group, a Pennsylvania-based investment adviser, has filed an Amendment No. 6 to Schedule 13G, disclosing its beneficial ownership in StepStone Group Inc. Common Stock.
• As of December 31, 2025, Vanguard beneficially owns an aggregate of 8,449,878 shares of StepStone Group Inc. Common Stock.
• This ownership represents 10.67% of the class of securities.
• Vanguard holds sole voting power over 0 shares and shared voting power over 520,140 shares.
• Vanguard holds sole dispositive power over 7,840,998 shares and shared dispositive power over 608,880 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing is a routine beneficial ownership disclosure by a major institutional investor, indicating a significant, stable stake in the issuer. While not directly impacting operational performance, a large institutional holding can be seen as a vote of confidence.

Positives

• The presence of a major institutional investor like The Vanguard Group holding a 10.67% stake can signal confidence in StepStone Group Inc. and provide market stability.
• The filing confirms that Vanguard's holdings are for ordinary course investment purposes, not for control-seeking, which can be viewed positively by other investors.

Negatives

• No specific negative points are disclosed within this beneficial ownership report.

Risks

• This filing, a Schedule 13G, is a disclosure of beneficial ownership and does not contain information regarding the operational or financial risks of StepStone Group Inc.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding StepStone Group Inc.'s future performance or outlook.

Industry Context

The Vanguard Group is one of the world's largest asset managers, and its significant stake in StepStone Group Inc. highlights continued institutional interest in the alternative asset management sector. Such disclosures provide transparency into major institutional holdings, which can influence market perception and investor sentiment.

Stakeholder Impact

• Shareholders benefit from the transparency of institutional ownership, which can provide insights into market confidence and potential liquidity.
• The presence of a large, long-term institutional investor like Vanguard may contribute to market stability for StepStone Group Inc.'s stock.

Key Dates

Keywords

StepStone Group Inc., The Vanguard Group, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Schedule 13G, Asset Management