StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Primary Direct Investments - Non-Controlled/Non-Affiliated - 26.1% of NAV | 1,2,3,4 | |||||||||||||
| Direct Debt - 0.1% of NAV | ||||||||||||||
| North America - 0.1% of NAV | ||||||||||||||
| Cyware Labs, Inc. ($52,206 principal amount, 10.00%, 03/26/2027) | Venture Capital | 12/12/2025 | $ | 52,206 | $ | 52,206 | 5 | |||||||
| Cyware Labs, Inc. ($26,103 principal amount, 10.00%, 06/11/2027) | Venture Capital | 06/12/2026 | 26,103 | 26,103 | 5 | |||||||||
| Ilumed Parent LLC ($3,031,915 principal amount, 17.50%, 07/23/2027) | Growth Equity | 01/23/2026 | 3,031,915 | 3,031,915 | 5,6 | |||||||||
| SiMa Technologies, Inc. ($4,265,865 principal amount, 7.50%, 12/31/2027) | Venture Capital | 07/18/2025 | 4,265,865 | 7,296,674 | 5 | |||||||||
| Total North America | $ | 7,376,089 | $ | 10,406,898 | ||||||||||
| Total Direct Debt | $ | 7,376,089 | $ | 10,406,898 | ||||||||||
| Direct Equity - 8.0% of NAV | ||||||||||||||
| Europe - 0.3% of NAV | ||||||||||||||
| Monzo Bank Holding Group Limited (1,144,930 preferred shares) | Venture Capital | 03/05/2024 | $ | 19,474,131 | $ | 28,697,877 | *,5,7 | |||||||
| Total Europe | $ | 19,474,131 | $ | 28,697,877 | ||||||||||
| North America - 7.0% of NAV | ||||||||||||||
| AcuityMD, Inc. (514,711 preferred shares) | Venture Capital | 04/12/2024 | $ | 3,832,394 | $ | 4,627,200 | *,5 | |||||||
| Anduril Industries, Inc. (162,337 preferred shares) | Venture Capital | 03/20/2025 | 9,358,000 | 11,193,574 | *,5 | |||||||||
| Apex Technology, Inc. (924,758 preferred shares) | Venture Capital | 04/16/2025 | 9,754,609 | 18,549,906 | *,5 | |||||||||
| Atticus Labs, Inc. (307,490 preferred shares) | Venture Capital | 04/09/2025 | 5,080,679 | 5,080,565 | *,5 | |||||||||
| Black Forest Labs Inc. (9,131 preferred shares) | Venture Capital | 11/21/2025 | 2,152,632 | 2,152,632 | 5 | |||||||||
| Chaos Industries, Inc. (439,136 preferred shares) | Venture Capital | 04/25/2025 | 51,849,493 | 61,012,063 | *,5 | |||||||||
| Colony Labs, Inc. (1,831,998 preferred shares) | Venture Capital | 10/22/2025 | 14,871,128 | 14,841,382 | *,5 | |||||||||
| Creatio Inc. (7,609 preferred shares) | Venture Capital | 06/10/2024 | 778,806 | 778,806 | *,5 | |||||||||
| Crusoe Inc. (107,132 preferred shares) | Venture Capital | 10/08/2025 | 8,999,973 | 11,570,256 | *,5 | |||||||||
| Cube Planning Inc. (277,368 preferred shares) | Venture Capital | 12/15/2023 | 1,431,302 | 1,431,302 | *,5 | |||||||||
| Cyera Ltd. (903,243 preferred shares) | Venture Capital | 06/09/2026 | 18,000,007 | 18,000,007 | *,5,8 | |||||||||
| Cyware Labs, Inc. (16,739 preferred shares) | Venture Capital | 11/08/2023 | 188,612 | 188,612 | *,5 | |||||||||
| Databricks, Inc. (111,842 preferred shares) | Venture Capital | 12/16/2025 | 21,249,980 | 24,911,687 | *,5 | |||||||||
| Duplocloud, Inc. (181,320 preferred shares) | Venture Capital | 11/01/2023 | 1,675,406 | 2,044,379 | *,5 | |||||||||
| Etched, Inc. (67,513 preferred shares) | Venture Capital | 12/30/2025 | 1,039,078 | 1,039,078 | *,5,8 | |||||||||
| Federato Technologies, Inc. (1,277,740 preferred shares) | Venture Capital | 11/15/2024 | 9,538,093 | 18,716,770 | *,5 | |||||||||
| Flock Group Inc (4,174,157 preferred shares) | Venture Capital | 03/31/2026 | 65,250,005 | 65,250,005 | *,5,8 | |||||||||
| GlossGenius, Inc. (15,397 preferred shares) | Venture Capital | 01/26/2026 | 754,410 | 754,410 | *,5 | |||||||||
| Hadrian Automation, Inc. (201,307 preferred shares) | Venture Capital | 12/19/2025 | 3,701,832 | 14,222,581 | *,5 | |||||||||
| Ilumed Parent LLC (1,650 preferred units) | Growth Equity | 08/19/2024 | 9,493,125 | 12,513,600 | *,5,6 | |||||||||
| Infinite Uptime, Inc. (231,940 preferred shares) | Venture Capital | 01/06/2025 | 1,813,377 | 1,813,377 | *,5 | |||||||||
| KoBold Metals Company (430,512 preferred shares) | Venture Capital | 12/05/2024 | 40,217,438 | 48,480,645 | *,5 | |||||||||
| Lynk Global, Inc. (661,073 preferred shares) | Venture Capital | 02/12/2026 | 5,643,407 | 15,224,511 | *,5,8 | |||||||||
| Lynk Global, Inc. (495,804 common warrants) | Venture Capital | 02/12/2026 | 446,596 | 1,204,804 | *,5,8 | |||||||||
1
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Primary Direct Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| MTS Belmont Holdings, L.P. (31,111,144 common units) | Growth Equity | 06/03/2025 | $ | 31,111,144 | $ | 31,111,144 | *,5,8 | |||||||
| Orca Biosystems, Inc. (158,202 preferred shares) | Venture Capital | 02/02/2026 | 8,699,988 | 8,699,987 | *,5,8 | |||||||||
| Overhaul Group Holdings, Inc. (830,940 preferred shares) | Venture Capital | 02/01/2023 | 10,416,248 | 16,652,785 | *,5 | |||||||||
| Overland AI Inc. (482,503 preferred shares) | Venture Capital | 11/24/2025 | 4,399,993 | 4,399,993 | *,5 | |||||||||
| Peak Topco Inc. (2,667 common shares) | Growth Equity | 08/23/2024 | 2,248,390 | 2,867,533 | *,⁺,5 | |||||||||
| Poolside Infrastructure Company, Inc. (160,443 preferred shares) | Venture Capital | 02/23/2026 | 2 | 2 | *,5 | |||||||||
| Poolside, Inc. (160,443 preferred shares) | Venture Capital | 07/11/2024 | 12,226,575 | 12,226,575 | *,5 | |||||||||
| PushPress, Inc. (760,282 preferred shares) | Venture Capital | 10/17/2024 | 5,350,333 | 5,350,333 | *,5 | |||||||||
| Rasa Technologies Inc. (361,126 preferred shares) | Venture Capital | 12/06/2023 | 1,651,249 | 1,651,249 | *,5 | |||||||||
| Saronic Technologies, Inc. (1,113,001 preferred shares) | Venture Capital | 07/11/2024 | 22,025,049 | 30,546,312 | *,5 | |||||||||
| Sift Stack, Inc. (797,607 preferred shares) | Venture Capital | 07/18/2025 | 5,687,815 | 5,687,815 | *,5 | |||||||||
| SWG Brands, Inc. (3,248,958 preferred shares) | Venture Capital | 09/11/2024 | 8,282,602 | 12,833,709 | *,5 | |||||||||
| Temporal Technologies Inc. (442,590 preferred shares) | Venture Capital | 02/03/2025 | 4,371,343 | 10,016,638 | *,5 | |||||||||
| ThreatLocker, Inc. (827,118 preferred shares) | Venture Capital | 04/08/2024 | 42,211,570 | 54,643,220 | *,5 | |||||||||
| Transcend Inc. (265,808 preferred shares) | Venture Capital | 12/29/2023 | 2,785,645 | 2,785,641 | *,5 | |||||||||
| TurbineOne, Inc. (54,690 preferred shares) | Venture Capital | 05/07/2025 | 1,493,494 | 1,493,496 | *,5 | |||||||||
| unitQ inc. (614,975 preferred shares) | Venture Capital | 04/19/2024 | 2,536,280 | 2,536,280 | *,5 | |||||||||
| Varda Space Industries, Inc. (621,671 preferred shares) | Venture Capital | 02/24/2026 | 12,749,975 | 12,749,975 | *,5,8 | |||||||||
| Vercel Inc. (54,767 preferred shares) | Venture Capital | 09/26/2025 | 10,999,952 | 10,999,952 | *,5 | |||||||||
| Vulcan Elements Holdings Corp. (299,941 preferred shares) | Venture Capital | 05/29/2026 | 26,999,939 | 26,999,939 | *,5,8 | |||||||||
| Total North America | $ | 503,367,968 | $ | 609,854,730 | ||||||||||
| Rest of World - 0.7% of NAV | ||||||||||||||
| Drafteame Ltd. (327,026 common shares) | Venture Capital | 06/28/2024 | $ | 3,325,000 | $ | 10,002,404 | *,5 | |||||||
| Lyka Wellness Pty Ltd (29,344 preferred shares) | Venture Capital | 04/25/2023 | 2,871,103 | 5,945,343 | *,5,7 | |||||||||
| Zencity Technologies Ltd. (575,444 preferred shares) | Venture Capital | 05/15/2024 | 5,852,957 | 5,852,957 | *,5 | |||||||||
| Zepto Limited (61,513,005 preferred shares) | Venture Capital | 08/24/2023 | 17,778,157 | 34,759,796 | *,5 | |||||||||
| Total Rest of World | $ | 29,827,217 | $ | 56,560,500 | ||||||||||
| Total Direct Equity | $ | 552,669,316 | $ | 695,113,107 | ||||||||||
| Investment Funds - 18.0% of NAV | ||||||||||||||
| Europe - 0.5% of NAV | ||||||||||||||
| Altimeter Pilot Fund I, L.P | Venture Capital | 05/08/2025 | $ | 11,083,549 | $ | 23,280,595 | *,8 | |||||||
| Fund J-1, a series of Riot Ventures Opportunity Fund, L.P. | Venture Capital | 08/25/2025 | 1,103,798 | 2,235,347 | * | |||||||||
| Opportunity II - Factorial Funds Athena, LLC | Venture Capital | 05/01/2026 | 15,825,945 | 15,750,000 | *,8 | |||||||||
| Total Europe | $ | 28,013,292 | $ | 41,265,942 | ||||||||||
2
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Primary Direct Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Investment Funds (continued) | ||||||||||||||
| North America - 17.4% of NAV | ||||||||||||||
| 8VC AI Fund III, LLC | Venture Capital | 08/13/2025 | $ | 11,520,547 | $ | 22,637,376 | *,8 | |||||||
| 8VC AI Fund IV, LLC | Venture Capital | 10/15/2025 | 14,620,694 | 21,523,707 | *,8 | |||||||||
| 8VC ANSF SPV I, LLC | Venture Capital | 07/16/2024 | 3,614,027 | 9,967,776 | *,8 | |||||||||
| 8VC CBSB, LLC | Venture Capital | 10/27/2025 | 18,000,854 | 17,995,343 | *,8 | |||||||||
| 8VC CHSB SPV, LLC | Venture Capital | 08/02/2024 | 6,400,304 | 27,040,983 | *,8 | |||||||||
| 8VC COSB LLC | Venture Capital | 02/06/2026 | 15,964,500 | 15,964,500 | *,8 | |||||||||
| 8VC ERSA SPV, LLC | Venture Capital | 07/18/2025 | 6,525,310 | 10,629,615 | *,8 | |||||||||
| 8VC ERSB-A LLC | Venture Capital | 02/13/2026 | 4,350,000 | 4,350,000 | *,8 | |||||||||
| 8VC LBSD SPV, LLC | Venture Capital | 03/27/2025 | 15,750,747 | 29,154,619 | *,8 | |||||||||
| ACN5 LLC | Venture Capital | 10/21/2025 | 17,124,881 | 26,064,940 | * | |||||||||
| ACY VI LLC | Venture Capital | 06/24/2026 | 9,000,000 | 9,000,000 | *,8 | |||||||||
| Altimeter Atlas Fund I, L.P. | Venture Capital | 05/08/2025 | 4,798,595 | 7,409,926 | *,8 | |||||||||
| Altimeter Growth Co-Invest IV, L.P. | Venture Capital | 09/05/2024 | 29,435,885 | 41,797,351 | *,⁺,8 | |||||||||
| Altimeter Growth Co-Invest V, L.P. | Venture Capital | 09/30/2024 | 22,580,916 | 76,087,828 | *,8 | |||||||||
| Altimeter Growth Olympic Fund II, L.P. | Venture Capital | 04/04/2025 | 13,518,276 | 26,916,185 | *,8 | |||||||||
| Altimeter Growth Olympic Fund III, L.P. | Venture Capital | 07/01/2025 | 12,827,868 | 25,518,781 | *,8 | |||||||||
| Altimeter Kilauea Fund I, L.P. | Venture Capital | 11/21/2025 | 8,610,737 | 8,583,138 | *,8 | |||||||||
| Altimeter Vesuvius Fund I L.P. | Venture Capital | 11/26/2025 | 12,817,223 | 12,810,263 | *,8 | |||||||||
| ANL5 LLC | Venture Capital | 04/09/2026 | 3,449,350 | 3,410,954 | *,8 | |||||||||
| APE5 LLC | Venture Capital | 06/26/2026 | 7,200,000 | 7,200,000 | *,8 | |||||||||
| ASA4 LLC | Venture Capital | 06/12/2024 | 8,900,000 | 14,309,851 | * | |||||||||
| Banner VC Co-Invest I, LP | Venture Capital | 03/24/2026 | 6,145,868 | 6,121,382 | *,⁺,8 | |||||||||
| Boldstart Cardinal, LLC | Venture Capital | 06/04/2025 | 1,408,859 | 2,883,572 | * | |||||||||
| BSV Holdings I LP | Venture Capital | 03/10/2025 | 1,828,174 | 3,356,835 | *,⁺ | |||||||||
| Caffeinated Capital Amca SPV, LLC | Venture Capital | 04/10/2026 | 1,565,544 | 1,565,544 | *,8 | |||||||||
| Caffeinated Capital Saronic SPV II, LLC | Venture Capital | 01/28/2025 | 28,500,000 | 45,997,804 | * | |||||||||
| Caffeinated Capital Varda SPV II, LLC | Venture Capital | 09/05/2024 | 3,900,000 | 6,045,463 | * | |||||||||
| Canto of Arcadia, LP | Venture Capital | 09/02/2025 | 879,724 | 855,433 | * | |||||||||
| Canto of Jupiter II, LP | Venture Capital | 09/25/2025 | 1,170,989 | 1,514,264 | * | |||||||||
| CIV TNC SPV I, LLC | Venture Capital | 04/16/2025 | 4,766,158 | 4,722,375 | * | |||||||||
| CIV TNC SPV II, LP | Venture Capital | 02/23/2026 | 17,487,000 | 17,558,000 | *,8 | |||||||||
| Cosmic 20252, L.P. | Venture Capital | 05/02/2025 | 8,000,000 | 7,985,572 | * | |||||||||
| CRV Select II-V, LP | Venture Capital | 05/06/2024 | 9,630,590 | 24,759,861 | * | |||||||||
| Daylight CD Investments, LP | Venture Capital | 06/26/2026 | 18,000,000 | 18,000,000 | *,8 | |||||||||
| Elephant Partners 2023 SPV-A, L.P. | Venture Capital | 05/19/2023 | 34,665,443 | 37,543,006 | * | |||||||||
| Ensemble Continuation Fund LLC - Series Saronic | Venture Capital | 07/10/2024 | 4,571,429 | 22,276,085 | * | |||||||||
| FE IV Co-Invest FA, L.P. | Growth Equity | 07/31/2024 | 4,360,115 | 8,091,679 | * | |||||||||
| FE IV Co-Invest SO, L.P. | Growth Equity | 10/24/2024 | 36,814,573 | 40,889,723 | * | |||||||||
| FLB Partners B, LP | Venture Capital | 05/14/2025 | 40,950,000 | 65,517,624 | * | |||||||||
3
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Primary Direct Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Investment Funds (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Fleet Data Centers I, LP | Other | 10/08/2025 | $ | 3,243,053 | $ | 2,516,508 | ⁺ | |||||||
| Fundomo ET-002, LP | Venture Capital | 01/05/2026 | 3,140,628 | 3,140,628 | *,8 | |||||||||
| Fundomo OLX-002, LP | Venture Capital | 06/25/2026 | 13,500,000 | 13,500,000 | *,8 | |||||||||
| GC Venture XII (A-IV), L.P. | Venture Capital | 05/27/2026 | 3,566,533 | 3,565,107 | *,8 | |||||||||
| Georgian Fund VI C Invest LP | Venture Capital | 11/14/2024 | 17,682,873 | 35,320,042 | *,⁺ | |||||||||
| HotWheels Co-Invest LP | Venture Capital | 07/09/2025 | 13,793,280 | 14,004,297 | *,⁺ | |||||||||
| ICONIQ Strategic Partners VI Co-Invest, L.P. - Series N-B3 | Venture Capital | 07/14/2025 | 8,874,549 | 16,747,676 | * | |||||||||
| Interlagos I, LLC, an Interlagos Capital Fund | Venture Capital | 08/25/2025 | 6,781,223 | 11,761,366 | * | |||||||||
| Interlagos II, LLC, an Interlagos Capital Fund | Venture Capital | 08/29/2025 | 1,818,640 | 1,809,746 | * | |||||||||
| Interlagos III, LLC, an Interlagos Capital Fund | Venture Capital | 08/29/2025 | 624,787 | 839,769 | * | |||||||||
| Interlagos IV, LLC, an Interlagos Capital Fund | Venture Capital | 04/21/2026 | 3,141,799 | 3,060,691 | *,8 | |||||||||
| KA Venture Investments Holdings, LLC | Venture Capital | 10/15/2024 | 989,115 | 1,676,124 | * | |||||||||
| Kindred GMF1, L.P. | Venture Capital | 05/23/2025 | 3,480,006 | 15,607,715 | * | |||||||||
| Lavrock-Castelion-P, LLC | Venture Capital | 08/06/2025 | 6,308,162 | 8,281,345 | * | |||||||||
| LGF SUNNY MOMENTUM, L.P. | Venture Capital | 04/30/2025 | 4,572,750 | 4,567,490 | * | |||||||||
| Lightspeed C Holdings, LLC | Venture Capital | 11/12/2025 | 5,388,584 | 7,403,673 | * | |||||||||
| MC Tech IV (Co-Invest), LP | Venture Capital | 04/04/2025 | 6,808,052 | 22,638,225 | * | |||||||||
| NEA CH 2026 SPV, L.P. | Venture Capital | 03/24/2026 | 175,589 | 175,527 | *,8 | |||||||||
| NEA CH SPV, L.P. | Venture Capital | 05/09/2024 | 1,954,195 | 2,869,096 | * | |||||||||
| NEA SH 2025 SPV, L.P. | Venture Capital | 06/24/2025 | 8,735,974 | 8,699,131 | * | |||||||||
| Olam T, L.P. | Venture Capital | 04/27/2026 | 130,500,000 | 130,500,000 | *,⁺,8 | |||||||||
| PMRP, LLC - Series 1 | Venture Capital | 09/08/2025 | 8,516,900 | 12,639,356 | *,8 | |||||||||
| PMRP, LLC - Series 2 | Venture Capital | 01/20/2026 | 21,749,925 | 21,742,017 | *,8 | |||||||||
| PMRP, LLC - Series 3 | Venture Capital | 02/12/2026 | 21,749,836 | 49,418,768 | *,8 | |||||||||
| PMRP, LLC - Series 4 | Venture Capital | 05/28/2026 | 8,615,442 | 8,615,442 | *,8 | |||||||||
| Project Shamrock, LLC | Venture Capital | 10/14/2025 | 21,630,155 | 21,514,992 | *,8 | |||||||||
| Redpoint Omega IV-C, L.P. | Venture Capital | 06/28/2024 | 6,565,911 | 10,165,377 | * | |||||||||
| RPIII FB Co-Invest LLC | Growth Equity | 03/02/2023 | 4,025,684 | 4,891,737 | *,6 | |||||||||
| Series 1, a Series of Atreides Lookfar Fund, LLC | Venture Capital | 06/22/2026 | 20,162,250 | 19,575,000 | *,⁺,8 | |||||||||
| Series W DIs, a Series of Atreides Special Circumstances Fund, LLC | Venture Capital | 01/26/2026 | 4,480,500 | 9,090,679 | *,8 | |||||||||
| Shrug Opportunities & Natural Capital LP | Venture Capital | 10/11/2024 | 22,695,000 | 35,424,804 | * | |||||||||
| StepStone VC PVP Follow-On, LLC | Venture Capital | 09/11/2024 | 53,193 | 49,510 | *,8 | |||||||||
| Stripes VII Azul Co-Invest, LP | Venture Capital | 03/02/2026 | 2,643,067 | 2,640,887 | *,8 | |||||||||
| Telstar4Ever by XYZ, LLC | Venture Capital | 09/29/2025 | 4,536,000 | 7,347,899 | * | |||||||||
| Thrive Capital Partners IX Growth-C, LLC | Venture Capital | 12/16/2024 | 7,617,428 | 18,284,562 | * | |||||||||
| Thrive Capital Partners IX Growth-F, LLC | Venture Capital | 04/02/2025 | 27,135,315 | 118,766,598 | * | |||||||||
| Valor Summit 1.0 L.P. | Venture Capital | 10/30/2024 | 32,356,940 | 110,241,291 | *,⁺ | |||||||||
| VY Cerebrum, L.P. | Venture Capital | 05/27/2025 | 9,293,532 | 9,119,939 | *,⁺ | |||||||||
4
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Primary Direct Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Investment Funds (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| WH Growth Fund III LP | Venture Capital | 03/18/2026 | $ | 6,181,350 | $ | 6,181,350 | *,8 | |||||||
| WndrCo Holdings M C SPV LP | Venture Capital | 05/02/2025 | 10,137,918 | 10,045,807 | * | |||||||||
| Total North America | $ | 956,881,318 | $ | 1,518,497,529 | ||||||||||
| Rest of World - 0.1% of NAV | ||||||||||||||
| Columbia XIG Co-Invest, L.P. | Venture Capital | 11/25/2025 | $ | 3,935,228 | $ | 3,973,303 | *,⁺ | |||||||
| KA CT, LLC | Venture Capital | 01/02/2024 | 2,190,000 | 2,899,245 | *,9 | |||||||||
| Knollwood SPV XXV LLC | Venture Capital | 04/14/2026 | 5,655,002 | 5,655,002 | *,8 | |||||||||
| Total Rest of World | $ | 11,780,230 | $ | 12,527,550 | ||||||||||
| Total Investment Funds | $ | 996,674,840 | $ | 1,572,291,021 | ||||||||||
| Total Non-Controlled/Non-Affiliated Primary Direct Investments | $ | 1,556,720,245 | $ | 2,277,811,026 | ||||||||||
| Primary Investments - Non-Controlled/Non-Affiliated - 3.1% of NAV | 1,2,3,4 | |||||||||||||
| Investment Funds - 3.1% of NAV | ||||||||||||||
| North America - 3.1% of NAV | ||||||||||||||
| 8VC DSS A, L.P. | Venture Capital | 02/28/2025 | $ | 41,401,964 | $ | 71,015,692 | *,⁺,8 | |||||||
| Altimeter Venture Partners Fund VII, L.P. | Venture Capital | 11/08/2024 | 24,725,063 | 44,839,602 | *,⁺,8 | |||||||||
| Banner VC I, LP | Venture Capital | 05/01/2026 | 122,428 | 122,428 | *,⁺,8 | |||||||||
| BVP Forge II Institutional A, L.P. | Growth Equity | 11/12/2025 | — | — | *,⁺ | |||||||||
| Cantos Ventures IV, L.P. | Venture Capital | 09/25/2025 | 209,894 | 210,075 | *,⁺ | |||||||||
| Cosmic - Aleph 4, L.P. | Venture Capital | 09/10/2025 | 447,956 | 426,590 | *,⁺ | |||||||||
| Cosmic - Bet 4 Durable, L.P. | Venture Capital | 09/10/2025 | 1,195,041 | 1,601,288 | *,⁺ | |||||||||
| Cosmic - Bet 4, L.P. | Venture Capital | 09/10/2025 | 10,816,118 | 12,159,341 | *,⁺ | |||||||||
| Glade Brook Strategic Growth V LP | Venture Capital | 02/11/2026 | 6,792,903 | 6,702,998 | *,⁺,8 | |||||||||
| HX One L.P. | Growth Equity | 04/08/2025 | 11,056,500 | 11,539,590 | *,⁺ | |||||||||
| Interlagos Fund I, LP | Venture Capital | 09/24/2025 | 1,186,559 | 1,491,474 | *,⁺ | |||||||||
| Marathon Management Partners Fund I, LP | Venture Capital | 04/25/2025 | 2,270,144 | 2,717,745 | *,⁺ | |||||||||
| StepStone VC LVR 2026 LLC | Venture Capital | 04/28/2026 | 336,592 | 328,764 | *,⁺,8 | |||||||||
| Thrive Capital Partners X Opportunity Fund, L.P. | Venture Capital | 10/24/2025 | 65,443,092 | 117,469,834 | *,⁺ | |||||||||
| Total North America | $ | 166,004,254 | $ | 270,625,421 | ||||||||||
| Total Investment Funds | $ | 166,004,254 | $ | 270,625,421 | ||||||||||
| Total Non-Controlled/Non-Affiliated Primary Investments | $ | 166,004,254 | $ | 270,625,421 | ||||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated - 52.0% of NAV | 1,2,3,4,10 | |||||||||||||
| Direct Equity - 6.3% of NAV | ||||||||||||||
| Europe - 0.5% of NAV | ||||||||||||||
| Monzo Bank Holding Group Limited (1,772,343 preferred shares) | Venture Capital | 05/03/2024 | $ | 33,024,390 | $ | 44,424,096 | *,5,7 | |||||||
| Total Europe | $ | 33,024,390 | $ | 44,424,096 | ||||||||||
| North America - 5.7% of NAV | ||||||||||||||
| AcuityMD, Inc. (40,288 preferred shares) | Venture Capital | 12/22/2025 | $ | 362,185 | $ | 362,185 | *,5 | |||||||
| Anduril Industries, Inc. (251,890 preferred shares) | Venture Capital | 08/05/2024 | 7,693,941 | 17,368,496 | *,5 | |||||||||
| Anduril Industries, Inc. (91,127 common shares) | Venture Capital | 05/14/2024 | 2,514,476 | 6,283,453 | *,5 | |||||||||
5
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Atticus Labs, Inc. (25,624 preferred shares) | Venture Capital | 05/23/2025 | $ | 432,789 | $ | 423,378 | *,5 | |||||||
| Black Forest Labs Inc. (9,131 common shares) | Venture Capital | 01/26/2026 | 2,152,632 | 2,152,632 | *,5 | |||||||||
| BuildOps, Inc. (222,285 preferred shares) | Venture Capital | 09/27/2023 | 229,865 | 499,297 | *,5 | |||||||||
| Carry Technologies Inc. (72,362 preferred shares) | Venture Capital | 06/11/2026 | 6,782,809 | 6,782,809 | *,5 | |||||||||
| Carry Technologies Inc. (32,519 common shares) | Venture Capital | 04/28/2025 | 1,753,385 | 3,048,149 | *,5 | |||||||||
| Castelion Corporation (1,476 preferred shares) | Venture Capital | 12/31/2025 | 224,322 | 253,872 | *,5 | |||||||||
| Castelion Corporation (8,790 common shares) | Venture Capital | 02/27/2026 | 1,511,880 | 1,511,880 | *,5 | |||||||||
| Chaos Industries, Inc. (106,493 preferred shares) | Venture Capital | 07/30/2025 | 12,505,116 | 14,795,775 | *,5 | |||||||||
| Contentful Global, Inc. (74,057 preferred shares) | Venture Capital | 06/13/2023 | 970,147 | 970,147 | *,5 | |||||||||
| Creatio Inc. (32,501 preferred shares) | Venture Capital | 06/10/2024 | 3,326,585 | 3,326,585 | *,5 | |||||||||
| Creatio Inc. (15,127 common shares) | Venture Capital | 06/10/2024 | 1,426,792 | 1,548,298 | *,5 | |||||||||
| Crusoe Inc. (12,847 preferred shares) | Venture Capital | 12/22/2025 | 1,284,700 | 1,387,476 | *,5 | |||||||||
| Cube Planning Inc. (15,142 preferred shares) | Venture Capital | 01/29/2024 | 57,947 | 78,137 | *,5 | |||||||||
| Cyware Labs, Inc. (78,769 common shares) | Venture Capital | 11/08/2023 | 754,418 | 153,663 | *,5 | |||||||||
| Databricks, Inc. (1,247,271 preferred shares) | Venture Capital | 12/01/2025 | 215,511,690 | 277,817,143 | *,5 | |||||||||
| Databricks, Inc. (27,718 common shares) | Venture Capital | 12/01/2025 | 4,157,700 | 6,173,907 | *,5 | |||||||||
| Duplocloud, Inc. (22,402 preferred shares) | Venture Capital | 11/01/2023 | 159,493 | 252,582 | *,5 | |||||||||
| Etched, Inc. (162,032 preferred shares) | Venture Capital | 04/29/2026 | 2,493,800 | 2,493,800 | *,5,8 | |||||||||
| Federato Technologies, Inc. (122,707 preferred shares) | Venture Capital | 11/15/2024 | 1,417,734 | 1,797,454 | *,5 | |||||||||
| GlossGenius, Inc. (11,136 common shares) | Venture Capital | 11/16/2023 | 282,909 | 545,633 | *,5 | |||||||||
| Hadrian Automation, Inc. (26,352 preferred shares) | Venture Capital | 10/14/2025 | 267,839 | 1,861,800 | *,5 | |||||||||
| HyperNative Inc. (171,481 preferred shares) | Venture Capital | 05/07/2025 | 4,549,991 | 4,549,991 | *,5 | |||||||||
| KoBold Metals Company (31,241 preferred shares) | Venture Capital | 02/05/2025 | 2,800,904 | 3,518,099 | *,5 | |||||||||
| KoBold Metals Company (4,594 common shares) | Venture Capital | 07/07/2025 | 390,614 | 517,338 | *,5 | |||||||||
| Kong Inc. (1,211,663 preferred shares) | Venture Capital | 10/10/2024 | 12,123,382 | 12,412,033 | *,5 | |||||||||
| Maven Clinic Co. (254,542 preferred shares) | Venture Capital | 08/16/2024 | 4,522,931 | 4,522,931 | *,5 | |||||||||
| Orca Biosystems, Inc. (54,375 preferred shares) | Venture Capital | 03/09/2026 | 2,175,000 | 2,990,239 | *,5,8 | |||||||||
| Outreach Corporation (225,367 common shares) | Venture Capital | 06/14/2023 | 1,802,939 | 901,468 | *,5 | |||||||||
| Postman, Inc. (354,691 common shares) | Venture Capital | 09/26/2025 | 4,078,947 | 4,665,357 | *,5 | |||||||||
| PushPress, Inc. (400,842 preferred shares) | Venture Capital | 10/17/2024 | 2,820,845 | 2,820,845 | *,5 | |||||||||
| Saronic Technologies, Inc. (430,576 common shares) | Venture Capital | 07/23/2024 | 3,627,978 | 11,817,158 | *,5 | |||||||||
| Solutions By Text Holdco Inc. (268,109 common shares) | Venture Capital | 05/16/2024 | 1,730,435 | 2,629,962 | *,5 | |||||||||
| ThreatLocker, Inc. (544,041 preferred shares) | Venture Capital | 04/08/2024 | 22,848,548 | 35,941,851 | *,5 | |||||||||
| TurbineOne, Inc. (39,062 preferred shares) | Venture Capital | 05/07/2025 | 1,066,719 | 1,066,721 | *,5 | |||||||||
| Vacation Inc. (1,061,681 preferred shares) | Venture Capital | 02/12/2024 | 3,198,070 | 6,415,644 | *,5 | |||||||||
| Vannevar Labs, Inc. (82,416 preferred shares) | Venture Capital | 02/18/2025 | 5,254,296 | 5,245,688 | *,5 | |||||||||
| Vannevar Labs, Inc. (58,103 common shares) | Venture Capital | 03/06/2025 | 3,704,261 | 3,698,192 | *,5 | |||||||||
| Vercel Inc. (82,151 preferred shares) | Venture Capital | 11/13/2025 | 16,500,028 | 16,500,028 | *,5 | |||||||||
6
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Vercel Inc. (82,151 common shares) | Venture Capital | 11/13/2025 | $ | 16,500,248 | $ | 16,500,028 | *,5 | |||||||
| Vetro, Inc. (273,397 preferred shares) | Growth Equity | 08/08/2025 | 4,272,645 | 6,850,235 | *,5 | |||||||||
| Total North America | $ | 382,243,935 | $ | 495,452,359 | ||||||||||
| Rest of World - 0.1% of NAV | ||||||||||||||
| Kela Technologies, Inc. (92,707 common shares) | Venture Capital | 06/04/2026 | $ | 3,131,077 | $ | 3,295,873 | *,5,8 | |||||||
| Lyka Wellness Pty Ltd (7,809 preferred shares) | Venture Capital | 05/02/2024 | 671,181 | 1,582,169 | *,5,7 | |||||||||
| Zepto Limited (896,393 preferred shares) | Venture Capital | 06/05/2024 | 214,630 | 513,892 | *,5 | |||||||||
| Zepto Limited (2,156,326 common shares) | Venture Capital | 01/08/2024 | 210,266 | 984,725 | *,5 | |||||||||
| Total Rest of World | $ | 4,227,154 | $ | 6,376,659 | ||||||||||
| Total Direct Equity | $ | 419,495,479 | $ | 546,253,114 | ||||||||||
| Investment Funds - 45.7% of NAV | ||||||||||||||
| Europe - 5.6% of NAV | ||||||||||||||
| Glade Brook Private Investors XLIII LP | Growth Equity | 08/01/2025 | $ | 340,269,951 | $ | 409,275,950 | *,⁺ | |||||||
| MVII Parloa SPV-B, L.P. | Venture Capital | 06/25/2025 | 11,943,022 | 26,679,267 | * | |||||||||
| S-0226 SPV, a series of 201 Ventures Co-Invest LP | Venture Capital | 02/17/2026 | 4,350,000 | 10,508,810 | *,8 | |||||||||
| SilverTree Equity VIII LP | Venture Capital | 04/10/2025 | 44,989,139 | 45,569,241 | *,⁺ | |||||||||
| Total Europe | $ | 401,552,112 | $ | 492,033,268 | ||||||||||
| North America - 38.6% of NAV | ||||||||||||||
| 137 Holdings AI II, LLC | Venture Capital | 02/21/2024 | $ | 12,500,609 | $ | 46,975,944 | * | |||||||
| 137 Holdings SXXI, LLC | Venture Capital | 03/18/2024 | 12,699,000 | 97,193,897 | * | |||||||||
| 8VC ANSD SPV GP, LLC | Venture Capital | 11/26/2025 | 4,273,517 | 4,823,531 | *,8 | |||||||||
| 8VC ANSD SPV, L.P | Venture Capital | 11/26/2025 | 906,666 | 998,939 | *,8 | |||||||||
| 8VC ANSE SPV, L.P. | Venture Capital | 04/07/2026 | 2,347,800 | 2,346,704 | *,8 | |||||||||
| 8VC Opportunities Fund II, L.P | Venture Capital | 12/31/2025 | 7,730,834 | 14,733,061 | *,⁺,8 | |||||||||
| AH Parallel Fund IV-Q, L.P | Venture Capital | 07/01/2023 | 162,326 | 167,792 | *,9 | |||||||||
| Altimeter Atlas Fund II, L.P. | Venture Capital | 06/12/2025 | 896,263 | 1,431,765 | *,⁺,8 | |||||||||
| Altimeter Kilauea Fund I, L.P. | Venture Capital | 05/04/2026 | 1,721,674 | 1,716,628 | *,8 | |||||||||
| Altimeter Premier Growth VIII, L.P | Venture Capital | 11/14/2025 | 20,254,635 | 32,646,298 | *,⁺,8 | |||||||||
| Altimeter Vesuvius Fund I L.P. | Venture Capital | 05/04/2026 | 1,708,621 | 1,708,621 | *,8 | |||||||||
| Amaranth DC Holdings, LP | Growth Equity | 02/23/2024 | 14,005,998 | 17,433,716 | * | |||||||||
| Amplify Partners II, L.P. | Venture Capital | 04/14/2025 | 267,303 | 219,409 | *,⁺ | |||||||||
| Amplify Partners III, L.P. | Venture Capital | 04/14/2025 | 2,848,292 | 4,287,841 | * | |||||||||
| Amplify Partners Select Fund IV, L.P. | Venture Capital | 04/14/2025 | 345,004 | 536,007 | *,⁺ | |||||||||
| Andreessen Horowitz Fund IV-Q, L.P. | Venture Capital | 07/01/2023 | 356,962 | 316,504 | *,9 | |||||||||
| Arctos Sports Partners Elvis Co-Invest II LP | Growth Equity | 12/18/2025 | 14,946,740 | 19,232,508 | *,7 | |||||||||
| Arctos Sports Partners Fund II, LP | Growth Equity | 10/07/2025 | 4,680,536 | 5,207,963 | *,7 | |||||||||
| Ardent GB Holdings, LP | Venture Capital | 03/21/2024 | 2,723,400 | 2,710,642 | * | |||||||||
| ARP4 II LLC | Venture Capital | 07/28/2025 | 34,800,000 | 64,469,641 | * | |||||||||
| ARP4 LLC | Venture Capital | 03/20/2025 | 20,768,665 | 52,347,013 | * | |||||||||
7
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| ASY5 LLC | Growth Equity | 08/08/2025 | $ | 30,450,000 | $ | 34,221,656 | * | |||||||
| Backend Capital, a series of Backend Capital, LP | Venture Capital | 08/29/2023 | 689,809 | 2,296,736 | * | |||||||||
| Betaworks Ventures 1.0, LP | Venture Capital | 01/24/2023 | 5,221,432 | 21,543,852 | *,⁺ | |||||||||
| Betaworks Ventures 2.0, LP | Venture Capital | 01/24/2023 | 2,125,435 | 2,693,182 | *,⁺ | |||||||||
| Betaworks Ventures 3.0, LP | Venture Capital | 01/24/2023 | 1,650,000 | 1,604,177 | *,⁺,9 | |||||||||
| Boldstart Opportunities I L.P. | Venture Capital | 04/17/2024 | 249,020 | 275,936 | * | |||||||||
| Boldstart Ventures II L.P. | Venture Capital | 06/30/2024 | 3,714,606 | 4,635,201 | *,⁺ | |||||||||
| Boldstart Ventures III L.P. | Venture Capital | 04/17/2024 | 3,111,579 | 6,242,382 | * | |||||||||
| Bregal Sagemount IV RGS Co-Invest L.P. | Growth Equity | 03/25/2026 | 23,595,538 | 23,595,538 | *,8 | |||||||||
| Caffeinated Capital Venture Fund IV, LP | Venture Capital | 06/17/2025 | 5,905,074 | 11,759,326 | *,⁺ | |||||||||
| Caffeinated Capital Venture Fund V, LP | Venture Capital | 07/01/2025 | 1,169,824 | 1,256,892 | *,⁺ | |||||||||
| Charles River Partnership XIV, LP | Venture Capital | 06/30/2023 | 83,101 | 57,072 | *,7 | |||||||||
| Charles River Partnership XV, LP | Venture Capital | 06/30/2023 | 706,240 | 1,383,281 | *,⁺,7 | |||||||||
| Charles River Partnership XVI, LP | Venture Capital | 06/30/2023 | 4,436,613 | 5,956,285 | *,⁺,7 | |||||||||
| CNK Fund IV, L.P. | Venture Capital | 12/31/2023 | 6,669,639 | 11,425,803 | *,⁺,9 | |||||||||
| CNK Seed Fund I, L.P. | Venture Capital | 12/31/2023 | 1,993,968 | 3,201,763 | *,⁺,9 | |||||||||
| Columbia Capital Equity Partners VI (QP), L.P. | Venture Capital | 06/30/2023 | 231,054 | 251,554 | *,9 | |||||||||
| Columbia Capital Equity Partners VII (QP), L.P. | Growth Equity | 08/04/2023 | 224,719 | 368,622 | *,⁺,9 | |||||||||
| Columbia Spectrum Partners VI-A, L.P. | Venture Capital | 09/10/2024 | 44,500,000 | 61,856,611 | * | |||||||||
| Conversion Capital Fund II, LP | Venture Capital | 09/30/2023 | 46,298 | 52,795 | *,⁺ | |||||||||
| Craft Ventures Affiliates II, L.P. | Venture Capital | 06/30/2023 | 174,577 | 363,179 | * | |||||||||
| Craft Ventures Growth I, L.P. | Venture Capital | 06/30/2023 | 76,732 | 301,910 | *,⁺ | |||||||||
| Craft Ventures III, L.P. | Venture Capital | 06/30/2023 | 87,895 | 184,210 | *,⁺ | |||||||||
| CRV SPV2-Z, LLC | Venture Capital | 12/06/2024 | 5,285,066 | 7,006,899 | *,8 | |||||||||
| DST Global IX, L.P. | Venture Capital | 10/01/2023 | 15,671,097 | 47,004,279 | *,⁺ | |||||||||
| DST Global VI, L.P. | Venture Capital | 10/01/2023 | 2,206,878 | 4,454,543 | * | |||||||||
| DST Global VII, L.P. | Venture Capital | 10/01/2023 | 7,516,150 | 22,376,267 | * | |||||||||
| DST Global VIII, L.P. | Venture Capital | 10/01/2023 | 5,885,606 | 12,275,644 | *,⁺ | |||||||||
| DST Investments XXI, L.P. | Venture Capital | 10/01/2023 | 281,117 | 280,529 | * | |||||||||
| DSTG VII Investments-1, L.P. | Venture Capital | 10/01/2023 | 253,192 | 285,041 | * | |||||||||
| DSTG VII Investments-4, L.P. | Venture Capital | 10/01/2023 | 58,052 | 83,005 | * | |||||||||
| Elephant Partners I, L.P. | Growth Equity | 04/12/2024 | 513,786 | 425,428 | *,⁺ | |||||||||
| Elephant Partners II, L.P. | Growth Equity | 04/12/2024 | 534,646 | 748,542 | *,⁺ | |||||||||
| Elephant Partners III, L.P. | Growth Equity | 04/12/2024 | 387,439 | 839,120 | *,⁺ | |||||||||
| Elephant Partners IV, L.P. | Growth Equity | 04/12/2024 | 324,680 | 392,264 | *,⁺ | |||||||||
| Emergence Capital Partners II, L.P. | Venture Capital | 10/22/2024 | 1,639,724 | 941,830 | *,⁺ | |||||||||
| Felicis Ventures VI, L.P. | Venture Capital | 11/04/2022 | 15,445,552 | 19,565,142 | *,9 | |||||||||
| Felicis Ventures VII, L.P. | Venture Capital | 11/04/2022 | 14,105,574 | 20,421,216 | *,⁺ | |||||||||
| Fika Ventures - A, L.P. | Venture Capital | 01/09/2024 | 116,968 | 140,310 | * | |||||||||
8
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Fika Ventures, L.P. | Venture Capital | 06/27/2023 | $ | 933,803 | $ | 1,490,540 | * | |||||||
| Fingercheck Holdings, LLC | Venture Capital | 10/16/2024 | 31,236,799 | 36,731,296 | * | |||||||||
| First-Party Time VI LLC | Growth Equity | 07/02/2024 | 13,366,921 | 19,127,322 | * | |||||||||
| Five Elms III Apptegy CV, L.P. | Growth Equity | 12/20/2023 | 18,805,495 | 30,858,256 | *,⁺ | |||||||||
| Frontier Continuation Fund V, LP | Growth Equity | 11/20/2025 | 81,888,110 | 91,128,914 | *,⁺ | |||||||||
| FTV - FA, L.P. | Growth Equity | 07/11/2025 | 16,266,899 | 16,212,410 | *,⁺ | |||||||||
| Fundomo ET001, LP | Venture Capital | 06/23/2025 | 8,220,293 | 15,060,486 | * | |||||||||
| Fundomo Flagship, LP | Venture Capital | 06/06/2025 | 1,121,876 | 1,110,365 | * | |||||||||
| Fundomo Fund II, LP | Venture Capital | 06/16/2025 | 265,171 | 370,329 | *,⁺ | |||||||||
| Gator Co-Invest LI, L.P. | Growth Equity | 10/21/2025 | 26,837,520 | 26,509,874 | *,7 | |||||||||
| Georgian Alignment Fund AS, LP | Venture Capital | 10/31/2024 | 57,772,097 | 99,489,993 | *,⁺ | |||||||||
| Glade Brook Gondola Fund I LP | Growth Equity | 02/09/2026 | 280,423,855 | 545,484,651 | *,⁺,8 | |||||||||
| Glade Brook Private Investors XXXIV LP | Venture Capital | 10/22/2025 | 1,143,064 | 1,537,290 | * | |||||||||
| Glade Brook Private Investors XXXVII LP | Venture Capital | 05/14/2025 | 157,044,717 | 185,234,461 | * | |||||||||
| Glade Brook Strategic Growth IV LP | Venture Capital | 04/15/2025 | 983,315 | 1,669,802 | *,⁺ | |||||||||
| Greenoaks Capital MS LP - Jenner II Series | Venture Capital | 06/06/2024 | 23,164,166 | 27,195,170 | *,⁺ | |||||||||
| Group 11 Fund VI, L.P. | Venture Capital | 12/22/2023 | 1,806,971 | 3,896,833 | * | |||||||||
| Hildred Capital Co-Invest-REBA, LP | Venture Capital | 10/08/2024 | 21,627,000 | 32,366,299 | *,⁺ | |||||||||
| Hildred Equity Partners III-A, LP | Growth Equity | 10/08/2024 | 293,099 | 410,918 | *,⁺ | |||||||||
| Hildred Perennial Partners I, LP | Venture Capital | 12/22/2023 | 3,442,494 | 5,306,227 | *,⁺ | |||||||||
| Imaginary Venture Capital TR-1, L.P. | Venture Capital | 07/30/2024 | 13,350,000 | 18,360,266 | * | |||||||||
| Initialized III L.P. | Venture Capital | 11/27/2024 | 26,011,974 | 32,818,760 | *,⁺ | |||||||||
| Insight Partners Continuation Fund II, L.P. | Growth Equity | 03/31/2023 | 16,339,159 | 21,072,397 | ⁺ | |||||||||
| Inspired Capital Shop, L.P. | Venture Capital | 08/08/2025 | 4,376,970 | 4,354,397 | * | |||||||||
| Integrity Growth Partners Fund II, L.P. | Growth Equity | 07/31/2024 | 6,631,563 | 8,529,861 | *,⁺ | |||||||||
| JMI Fuego Aggregator, L.P. | Growth Equity | 06/26/2025 | 10,526,281 | 10,397,229 | *,⁺ | |||||||||
| K1X Co-Invest, LLC | Venture Capital | 09/05/2024 | 967,581 | 3,669,100 | * | |||||||||
| KA HINT, LLC | Venture Capital | 03/13/2025 | 8,200,000 | 23,104,947 | * | |||||||||
| Lightspeed Venture Partners Select II, L.P. | Venture Capital | 12/30/2022 | 648,677 | 621,884 | *,⁺,7 | |||||||||
| Lightspeed Venture Partners Select IV, L.P. | Venture Capital | 12/30/2022 | 1,136,554 | 2,322,316 | *,7 | |||||||||
| Lightspeed Venture Partners X, L.P. | Venture Capital | 12/30/2022 | 2,438,079 | 2,309,843 | *,⁺,7 | |||||||||
| Lightspeed Venture Partners XI, L.P. | Venture Capital | 12/30/2022 | 1,781,103 | 1,733,172 | *,⁺,7 | |||||||||
| Lightspeed Venture Partners XII, L.P. | Venture Capital | 12/30/2022 | 1,531,293 | 2,592,823 | *,⁺,7 | |||||||||
| Lightspeed Venture Partners XIII, L.P. | Venture Capital | 12/30/2022 | 1,491,365 | 2,668,949 | *,⁺,7 | |||||||||
| Lightspeed W-I, LLC | Venture Capital | 03/26/2024 | 84,105 | 952,900 | * | |||||||||
| Lux Ventures IV, L.P. | Venture Capital | 06/30/2023 | 511,875 | 794,051 | * | |||||||||
| Mantis Capital Fund I, LP | Venture Capital | 06/08/2026 | 1,719,705 | 2,844,679 | *,8 | |||||||||
| Mantis Capital Fund II, LP | Venture Capital | 06/08/2026 | 716,952 | 1,185,957 | *,⁺,8 | |||||||||
| Maple 3 VC, L.P. | Venture Capital | 08/20/2024 | 618,902 | 1,022,255 | *,⁺ | |||||||||
9
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Direct Equity (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Maple SPV-C2, LLC | Venture Capital | 08/14/2024 | $ | 1,754,230 | $ | 19,084,389 | * | |||||||
| March Capital Opportunity Fund II, L.P. | Venture Capital | 09/30/2023 | 42,628 | 64,523 | * | |||||||||
| March Capital Partners Fund II, L.P. | Venture Capital | 09/30/2023 | 34,781 | 54,932 | * | |||||||||
| Maroon Investors, L.P. | Growth Equity | 07/14/2023 | 10,730,190 | 14,650,028 | *,⁺ | |||||||||
| NEA Secondary Opportunity Fund, L.P. | Venture Capital | 07/03/2024 | 7,997,830 | 18,293,732 | *,⁺ | |||||||||
| Nexus Ventures VI, L.P. | Venture Capital | 08/28/2023 | 132,969 | 365,116 | *,⁺ | |||||||||
| Orkila Growth Fund III, LP | Growth Equity | 09/29/2023 | 2,123,360 | 4,674,868 | *,⁺,7 | |||||||||
| Orkila Growth Fund IV, LP | Growth Equity | 09/29/2023 | 80,867 | 84,747 | *,⁺,7 | |||||||||
| Otherwise Fund V, L.P. | Venture Capital | 03/24/2025 | 894,390 | 876,122 | *,⁺ | |||||||||
| Otherwise RP SPV, L.P. | Venture Capital | 03/17/2025 | 13,330,236 | 15,688,460 | * | |||||||||
| Poplar DC Holdings, LP | Growth Equity | 07/01/2024 | 39,414,217 | 38,097,905 | * | |||||||||
| Primary Select Fund II, L.P. | Venture Capital | 04/28/2023 | 534,706 | 871,314 | * | |||||||||
| Project Banded, LLC Series 1 | Venture Capital | 03/31/2026 | 43,523,943 | 40,922,577 | *,8 | |||||||||
| Project Banded, LLC Series 2 | Venture Capital | 04/30/2026 | 24,534,031 | 22,879,143 | *,8 | |||||||||
| Project Heron, LLC | Venture Capital | 10/07/2025 | 80,734,150 | 161,710,111 | *,⁺,8 | |||||||||
| PSG Sequel-A L.P. | Growth Equity | 01/30/2025 | 54,654,813 | 61,464,001 | *,⁺ | |||||||||
| PVP SGSS I, LLC | Venture Capital | 12/18/2023 | 4,086,266 | 3,695,393 | *,⁺,8 | |||||||||
| PVP SGSS I-A, LLC | Venture Capital | 12/18/2023 | 4,514,403 | 4,177,879 | *,⁺,8 | |||||||||
| Refactor Capital, L.P. | Venture Capital | 02/03/2026 | 2,091,654 | 3,106,839 | *,8 | |||||||||
| Resolve Growth Partners Fund I (Murray), L.P. | Growth Equity | 10/01/2025 | 2,193,237 | 2,086,387 | *,⁺ | |||||||||
| Resolve Growth Partners Fund I, L.P. | Growth Equity | 10/01/2025 | 6,270,860 | 7,867,895 | *,⁺ | |||||||||
| Resolve Growth Partners Fund II, L.P. | Growth Equity | 09/30/2025 | 760,317 | 788,658 | *,⁺,9 | |||||||||
| Rocket Fuel III LLC | Growth Equity | 07/02/2024 | 13,409,745 | 13,465,031 | * | |||||||||
| Sands Capital Global Innovation Fund III-RP, L.P. | Venture Capital | 09/10/2025 | 13,637,084 | 13,456,073 | * | |||||||||
| Sea Change IV LLC | Growth Equity | 07/02/2024 | 1,824,309 | 3,006,640 | * | |||||||||
| SG VC Fund II, L.P. | Venture Capital | 12/05/2023 | 5,172,002 | 4,850,419 | * | |||||||||
| Shasta Ventures V, L.P. | Venture Capital | 06/30/2024 | 5,428,648 | 6,682,561 | *,⁺ | |||||||||
| Signal Peak Ventures III CIV-A, L.P. | Venture Capital | 09/30/2024 | 4,608,255 | 9,340,906 | * | |||||||||
| Signal Peak Ventures III, L.P. | Venture Capital | 09/30/2024 | 5,036,890 | 8,904,709 | * | |||||||||
| Signal Peak Ventures IV, L.P. | Venture Capital | 11/01/2024 | 3,274,282 | 4,193,289 | *,⁺ | |||||||||
| Silas Capital Partners II, L.P. | Venture Capital | 03/15/2024 | 6,612,186 | 8,967,778 | *,⁺ | |||||||||
| Silas-MBM LLC | Venture Capital | 02/12/2024 | 783,832 | 1,367,070 | * | |||||||||
| SSG Fika VC, LLC | Venture Capital | 01/03/2025 | 4,661,885 | 5,588,570 | *,8 | |||||||||
| ST-1014 Fund I, a series of Fundomo Syndicates, LP | Venture Capital | 05/08/2026 | 5,511,322 | 5,509,244 | *,8 | |||||||||
| Standard Crypto Venture Fund I LP | Venture Capital | 10/23/2024 | 1,677,003 | 2,576,650 | *,⁺,9 | |||||||||
| StepStone BSV VC 2024 LLC | Venture Capital | 08/14/2024 | 7,582,580 | 21,168,984 | *,8 | |||||||||
| Stripes VI Crimson Co-Invest, LP | Venture Capital | 01/17/2025 | 3,339,833 | 6,471,527 | * | |||||||||
| Stripes VI Rainier Co-Invest, LP | Growth Equity | 10/24/2024 | 8,833,154 | 8,802,262 | * | |||||||||
| Stripes VI(A), LP | Growth Equity | 07/17/2025 | 62,318,555 | 108,199,945 | *,⁺ | |||||||||
10
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Secondary Investments - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| Investment Funds (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Stripes VII(A), LP | Venture Capital | 07/25/2025 | $ | 3,514,777 | $ | 3,668,012 | *,⁺ | |||||||
| T. Rowe Price Private Opportunities Offshore Fund LP | Venture Capital | 01/02/2026 | 25,643,105 | 30,901,830 | *,⁺ | |||||||||
| TCV Juniper Co, L.P. | Growth Equity | 04/07/2025 | 9,185,368 | 8,899,903 | * | |||||||||
| Telescope FU Investor, LLC | Venture Capital | 04/22/2025 | 11,805,885 | 15,686,223 | *,⁺ | |||||||||
| Thrive Capital Partners IX Growth-E, LLC | Venture Capital | 01/14/2025 | 2,884,226 | 6,929,066 | * | |||||||||
| Thrive Capital Partners VIII Growth-B, LLC | Venture Capital | 03/17/2023 | 10,888,611 | 34,026,699 | * | |||||||||
| TPG Tech Adjacencies II Stellar CI, L.P. | Venture Capital | 10/21/2025 | 1,955,921 | 7,291,683 | * | |||||||||
| Troy Capital Partners Exploration Fund 2024, LP | Venture Capital | 09/16/2024 | 19,394,809 | 128,483,463 | * | |||||||||
| Truehelm Co-Invest CAN, LP | Growth Equity | 03/19/2025 | 9,208,460 | 16,497,407 | *,6 | |||||||||
| Truehelm Fund III, L.P. | Growth Equity | 03/20/2025 | 6,867,508 | 6,344,577 | *,⁺,9 | |||||||||
| Turn/River Capital V (Co-Investment S), L.P. | Growth Equity | 04/01/2025 | 4,770,495 | 4,766,711 | *,⁺ | |||||||||
| Turn/River Capital VI (Co-Investment S), L.P. | Growth Equity | 04/01/2025 | 6,914,505 | 6,910,125 | *,⁺ | |||||||||
| Valor Equity Partners V L.P. | Venture Capital | 10/01/2025 | 23,014,585 | 64,429,079 | *,⁺ | |||||||||
| Valor M33 III L.P. | Venture Capital | 08/29/2024 | 12,011,200 | 63,606,748 | * | |||||||||
| VY Nous LP | Venture Capital | 01/29/2026 | 41,409,991 | 66,220,563 | *,⁺,8 | |||||||||
| VY Space II LP | Venture Capital | 10/29/2024 | 15,304,468 | 102,138,002 | *,⁺ | |||||||||
| VYC25 Limited | Venture Capital | 03/10/2025 | 55,719,400 | 163,152,704 | * | |||||||||
| Who is John Galt, LP | Venture Capital | 08/22/2025 | 9,360,076 | 9,113,001 | * | |||||||||
| Total North America | $ | 1,938,008,361 | $ | 3,379,942,141 | ||||||||||
| Rest of World - 1.5% of NAV | ||||||||||||||
| Coatue US 50 LLC - Series 1 | Venture Capital | 12/19/2024 | $ | 36,395,265 | $ | 54,646,699 | * | |||||||
| Glade Brook Strategic Growth III LP | Venture Capital | 04/21/2025 | 3,344,566 | 4,060,293 | * | |||||||||
| KWI Cyber Holdings LLC | Venture Capital | 10/07/2025 | 13,653,093 | 13,072,960 | *,⁺ | |||||||||
| MGR-CloudWalk LLC | Venture Capital | 09/12/2024 | 3,038,070 | 5,098,452 | * | |||||||||
| SSMGR-C, LLC - Series 1 | Venture Capital | 10/21/2024 | 13,027,441 | 19,929,101 | *,8 | |||||||||
| VY Terra II LP | Venture Capital | 04/08/2026 | 31,886,202 | 31,570,497 | *,⁺,8 | |||||||||
| Total Rest of World | $ | 101,344,637 | $ | 128,378,002 | ||||||||||
| Total Investment Funds | $ | 2,440,905,110 | $ | 4,000,353,411 | ||||||||||
| Total Non-Controlled/Non-Affiliated Secondary Investments | $ | 2,860,400,589 | $ | 4,546,606,525 | ||||||||||
| Public Securities - Non-Controlled/Non-Affiliated - 10.6% of NAV | 1,2 | |||||||||||||
| North America - 10.6% of NAV | ||||||||||||||
| Cerebras Systems Inc. (195,471 common shares) | Public Securities | 01/28/2026 | $ | 17,399,968 | $ | 39,566,047 | *,8,11,12 | |||||||
| Navan, Inc. (14,439 common shares) | Public Securities | 06/11/2026 | 326,755 | 330,220 | * | |||||||||
| Space Exploration Technologies Corp. (616,725 common shares) | Public Securities | 04/26/2024 | 12,948,495 | 105,373,634 | *,12 | |||||||||
| Space Exploration Technologies Corp. (4,952,450 common shares) | Public Securities | 09/16/2025 | 256,607,418 | 783,812,465 | *,11,12 | |||||||||
11
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| Investments | Asset Class | Acquisition Date | Cost | Fair Value | Footnotes | |||||||||
| Public Securities - Non-Controlled/Non-Affiliated (continued) | ||||||||||||||
| North America (continued) | ||||||||||||||
| Teamshares Inc. (174,452 common shares) | Public Securities | 09/27/2023 | $ | 1,744,522 | $ | 1,433,995 | * | |||||||
| Total North America | $ | 289,027,158 | $ | 930,516,361 | ||||||||||
| Total Non-Controlled/Non-Affiliated Public Securities | $ | 289,027,158 | $ | 930,516,361 | ||||||||||
| Short-Term Investments - Non-Controlled/Non-Affiliated - 3.8% of NAV | ||||||||||||||
| Fidelity Investments Money Market Government | ||||||||||||||
| Portfolio — Class I, 3.53% (333,802,929 shares) | Money Market | N/A | $ | 333,802,929 | $ | 333,802,929 | 13 | |||||||
| Total Non-Controlled/Non-Affiliated Short-Term Investments | $ | 333,802,929 | $ | 333,802,929 | ||||||||||
| Total Non-Controlled/Non-Affiliated Investments - 95.6% of NAV | $ | 5,205,955,175 | $ | 8,359,362,262 | ||||||||||
| Primary Direct Investments - Controlled/Affiliated - 0.3% of NAV | 1,2,3,4 | |||||||||||||
| Investment Funds | ||||||||||||||
| North America - 0.3% of NAV | ||||||||||||||
| BSV Star Queen, LLC | Venture Capital | 10/15/2024 | $ | 4,450,000 | $ | 7,321,291 | * | |||||||
| Defense Tech SVC BH SPV LLC | Venture Capital | 10/17/2025 | 1,126,801 | 1,497,749 | * | |||||||||
| S Squared - HAD LP | Venture Capital | 06/18/2025 | 469,168 | 2,721,441 | * | |||||||||
| Terrain Opportunity I, LP | Venture Capital | 02/26/2025 | 2,278,987 | 18,377,669 | * | |||||||||
| Total North America | $ | 8,324,956 | $ | 29,918,150 | ||||||||||
| Total Investment Funds | $ | 8,324,956 | $ | 29,918,150 | ||||||||||
| Total Controlled/Affiliated Primary Direct Investments | $ | 8,324,956 | $ | 29,918,150 | ||||||||||
| Secondary Investments - Controlled/Affiliated - 1.0% of NAV | 1,2,3,4 | |||||||||||||
| Investment Funds | ||||||||||||||
| North America - 1.0% of NAV | ||||||||||||||
| CRV XVIII-Z, LP | Venture Capital | 10/10/2024 | $ | 11,009,502 | $ | 11,549,452 | * | |||||||
| Redpoint Omega IV-Y, L.P | Venture Capital | 11/18/2024 | 26,620,000 | 74,297,613 | * | |||||||||
| Total North America | $ | 37,629,502 | $ | 85,847,065 | ||||||||||
| Total Investment Funds | $ | 37,629,502 | $ | 85,847,065 | ||||||||||
| Total Controlled/Affiliated Secondary Investments | $ | 37,629,502 | $ | 85,847,065 | ||||||||||
| Total Controlled/Affiliated Investments - 1.3% of NAV | $ | 45,954,458 | $ | 115,765,215 | ||||||||||
| Total Investments - 96.9% of NAV | $ | 5,251,909,633 | $ | 8,475,127,477 | ||||||||||
| Other assets in excess of liabilities - 3.1% of NAV | $ | 274,289,728 | ||||||||||||
| Net Assets - 100.0% of NAV | $ | 8,749,417,205 | ||||||||||||
12
StepStone Private Venture and Growth Fund
Consolidated Schedule of Investments (continued)
June 30, 2026 (unaudited)
| * | Investment is non-income producing. |
| ⁺ | Investment has been committed to but has not been fully funded. |
| 1 | Geographic region generally reflects the location of the investment manager or company. |
| 2 | Investments do not issue shares or hold outstanding principal, except where noted. The terms "shares" and "units" are used interchangeably. |
| 3 | Private investments typically do not permit redemptions or withdrawals, except at the discretion of their general partner, manager, or advisor. Final distribution dates are generally unknown unless specified. These investments are fair valued using net asset value as the practical expedient, unless otherwise noted, and are usually acquired through private placements with contractual resale restrictions that do not lapse. Each investment may have been purchased on different dates and for varying amounts. The acquisition date of the first purchase is listed in the Consolidated Schedule of Investments. |
| 4 | The fair value of any Primary Direct Investment, Primary Investment, or Secondary Investment has not been calculated, reviewed, verified or in any way approved by any general partner, manager or advisor of such investments (including any of its affiliates). |
| 5 | The fair value of the investment was determined using significant unobservable inputs. |
| 6 | All or a portion of this security is held by SPRING I LLC - Series A. |
| 7 | All or a portion of this security is held by SPRING Cayman II LLC. |
| 8 | All or a portion of this security is held by SPRING Subsidiary LLC. |
| 9 | All or a portion of this security is held by SPRING Cayman LLC. |
| 10 | The Fund's investments in certain Secondary Investment Funds - Non-Controlled/Non-Affiliated result in indirect exposure to Space Exploration Technologies Corp. of approximately 12.2% of the Fund's NAV. |
| 11 | The investment is subject to restrictions on resale under Rule 144 of the Securities Act of 1933 and may not be freely sold in the public market without registration or an applicable exemption from registration. The acquisition date of the first purchase is listed in the Consolidated Schedule of Investments. |
| 12 | All or a portion of the investment is subject to contractual sale restrictions and may not be sold or transferred until the lock-up periods expire. |
| 13 | The rate reported is the 7-day effective yield at the period end. |
13