Potrero Capital Research LLC's Q3 2022 vs. Q4 2022 13F Holdings: Changes in Top Positions and New Holdings

Potrero Capital Research LLC Q3 2022 vs. Q4 2022 13F Holdings Comparison

Potrero Capital Research LLC is a California-based hedge fund that specializes in investing in small-cap and mid-cap stocks. The firm was founded by John Osterweis in 2005, who was previously a managing director at Robertson Stephens. Potrero Capital follows a fundamentally-driven, long-term investment approach that focuses on companies with strong growth prospects, solid earnings potential, and a competitive market position.

The hedge fund has recently filed its 13F report for the fourth quarter of 2022 with the SEC. The report shows the changes in holdings of the firm between Q3 2022 and Q4 2022.

The report reveals that Potrero Capital increased its holdings in some of its top positions, while reducing its stake in others. The total value of the firm's portfolio decreased from $433.3 million in Q3 to $377.3 million in Q4, a decline of 12.9%.

Holdings Increased

Potrero Capital's top holding, Alphabet Inc (GOOG), remained unchanged at 207,620 shares, with a market value of $18,422,000. Alphabet is Potrero's largest holding, making up 4.88% of the total portfolio.

The fund increased its stake in some of its other top positions, including Topgolf Callaway Brands Corp (MODG), which saw a 2.5% increase, from 812,424 shares to 829,469 shares. The market value of the holding increased from $15,647,000 to $16,045,000.

New Relic Inc (NEWR), another top holding, saw a significant increase of 125.9%, from 61,690 shares to 141,690 shares. The market value of the holding increased from $3,540,000 to $7,998,000.

Five other holdings also saw an increase in shares, including Molson Coors Beverage Co (TAP), Smartsheet Inc (SMAR), Pinterest Inc (PINS), Intevac Inc (IVAC), and Light & Wonder Inc (LNW).

Holdings Decreased

Potrero Capital reduced its stake in some of its other top positions. The largest reduction was in NortonLifeLock Inc (GEN), with the fund completely divesting its position in the company. The holding of 21,395 shares, worth $431,000 in Q3, was sold out in the fourth quarter.

Potrero also sold out its entire position in Bandwidth Inc (BAND), Broadscale Acquisition Corp (SCLE), and Colicity Inc (COLIW).

The firm reduced its shares in Alteryx Inc (AYX) by 43.9%, Sigma Lithium Corp (SIGL), by 13.3%, and Yelp Inc (YELP), by 19.4%.

New Holdings

Potrero Capital added five new holdings in the fourth quarter. The largest new position was in Torrid Holdings Inc (CURV), with the fund acquiring 111,408 shares worth $465,000.

Other new positions included Epiphany Technology Acquisiton Corp (EPHYW), Akeran Corp (KERNW), Tishman Speyer Innovation Corp (TSIBW), and Sonder Holdings Inc (SONDW).

Conclusion

Potrero Capital Research LLC is a well-known hedge fund that follows a well-planned strategy to invest in small-cap and mid-cap stocks. The firm's recent 13F report shows that it has increased its holdings in some of the major positions, decreased its stakes in others, and added new positions to its portfolio.

The report also shows that the hedge fund continues to follow its long-term investment approach, with several holdings remaining unchanged. Overall, Potrero's portfolio shows a diversified approach to investing in small-cap and mid-cap stocks, which highlights their expertise in the field.