Stockbridge Partners LLC Diversified Active

CIK: 0001505183 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $4,543,170 (100.0% shares, 0.0% debt)

Holdings (13)

New Positions (1)

GOOGL ALPHABET INC 6.4%

Value ($000) $289,652 Shares 925,406 Est. Cost $285.60 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	925,406	$289,652	6.4%	$285.60	0.0%	CAP STK CL A	02079K305

Increased Positions (3)

NOW SERVICENOW INC 6.4%

Value ($000) $290,709 (-24.8%) Shares 1,897,705 (+352.1%) Est. Cost $175.56 Unrealized -2.3%

GWRE GUIDEWIRE SOFTWARE INC 6.4%

Value ($000) $290,501 (+21.6%) Shares 1,445,206 (+39.0%) Est. Cost $125.86 Unrealized +75.8%

WCN WASTE CONNECTIONS INC 9.1%

Value ($000) $415,132 (+5.7%) Shares 2,367,313 (+5.9%) Est. Cost $155.74 Unrealized +11.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NOW	SERVICENOW INC	1,897,705 (+352.1%)	$290,709 (-24.8%)	6.4%	$175.56	-2.3%	COM	81762P102
GWRE	GUIDEWIRE SOFTWARE INC	1,445,206 (+39.0%)	$290,501 (+21.6%)	6.4%	$125.86	+75.8%	COM	40171V100
WCN	WASTE CONNECTIONS INC	2,367,313 (+5.9%)	$415,132 (+5.7%)	9.1%	$155.74	+11.0%	COM	94106B101

Exited Positions (2)

HLT HILTON WORLDWIDE HLDGS INC 5.1%

Value ($000) $230,111 Shares 886,951 Est. Cost $208.92 Unrealized +30.3%

TMO THERMO FISHER SCIENTIFIC INC 2.2%

Value ($000) $100,682 Shares 207,584 Est. Cost $525.23 Unrealized +7.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HLT	HILTON WORLDWIDE HLDGS INC	886,951	$230,111	5.1%	$208.92	+30.3%	—	43300A203
TMO	THERMO FISHER SCIENTIFIC INC	207,584	$100,682	2.2%	$525.23	+7.6%	—	883556102

Decreased Positions (6)

KLAC KLA CORP 4.1%

Value ($000) $185,844 (-44.5%) Shares 152,948 (-50.8%) Est. Cost $930.36 Unrealized +26.0%

MSFT MICROSOFT CORP 8.0%

Value ($000) $362,025 (-24.9%) Shares 748,574 (-19.6%) Est. Cost $306.83 Unrealized +63.1%

TDG TRANSDIGM GROUP INC 12.7%

Value ($000) $577,527 (-16.6%) Shares 434,280 (-17.3%) Est. Cost $169.11 Unrealized +675.1%

AMZN AMAZON COM INC 10.0%

Value ($000) $456,069 (-14.4%) Shares 1,975,866 (-18.6%) Est. Cost $139.83 Unrealized +63.6%

VMC VULCAN MATLS CO 8.3%

Value ($000) $375,659 (-12.6%) Shares 1,317,084 (-5.7%) Est. Cost $181.82 Unrealized +61.2%

DE DEERE & CO 8.0%

Value ($000) $362,304 (-0.6%) Shares 778,195 (-2.4%) Est. Cost $373.60 Unrealized +25.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KLAC	KLA CORP	152,948 (-50.8%)	$185,844 (-44.5%)	4.1%	$930.36	+26.0%	COM NEW	482480100
MSFT	MICROSOFT CORP	748,574 (-19.6%)	$362,025 (-24.9%)	8.0%	$306.83	+63.1%	COM	594918104
TDG	TRANSDIGM GROUP INC	434,280 (-17.3%)	$577,527 (-16.6%)	12.7%	$169.11	+675.1%	COM	893641100
AMZN	AMAZON COM INC	1,975,866 (-18.6%)	$456,069 (-14.4%)	10.0%	$139.83	+63.6%	COM	023135106
VMC	VULCAN MATLS CO	1,317,084 (-5.7%)	$375,659 (-12.6%)	8.3%	$181.82	+61.2%	COM	929160109
DE	DEERE & CO	778,195 (-2.4%)	$362,304 (-0.6%)	8.0%	$373.60	+25.2%	COM	244199105

Unchanged Positions (3)

VEEV VEEVA SYS INC 6.4%

Value ($000) $290,846 Shares 1,302,898 Est. Cost $226.86 Unrealized +17.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 14.2%

Value ($000) $644,526 Shares 2,120,920 Est. Cost $200.81 Unrealized —

KLAR KLARNA GROUP PLC 0.1%

Value ($000) $2,374 Shares 82,119 Est. Cost $42.59 Unrealized -19.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEEV	VEEVA SYS INC	1,302,898	$290,846	6.4%	$226.86	+17.0%	CL A COM	922475108
TSM	TAIWAN SEMICONDUCTOR MFG LTD	2,120,920	$644,526	14.2%	$200.81	—	SPONSORED ADS	874039100
KLAR	KLARNA GROUP PLC	82,119	$2,374	0.1%	$42.59	-19.4%	SHS	G5279N105