Sapphire Ventures' Rapidly Changing 13F Holdings: Q4 2022 vs. Q1 2023

Sapphire Ventures is a California-based venture capital firm that invests in emerging technologies across industries. As of Q1 2023, Sapphire Ventures filed its 13F report with the U.S Securities and Exchange Commission (SEC), disclosing its latest holdings in publicly traded securities. Sapphire Ventures had an interesting quarter with some notable changes in their holdings between Q4 2022 and Q1 2023.

In this article, we'll dive into Sapphire Ventures' latest 13F filing that compares Q4 2022 and Q1 2023 holdings.

Notable Changes in Holdings

Looking at the data, the most significant change in holdings is with JFrog Ltd (FROG). Sapphire Ventures' shares of FROG decreased almost 67% from 3.4 million shares in Q4 2022 to 1.2 million shares in Q1 2023. The value of their holdings also decreased from $72.5 million to $24.4 million. This substantial drop in holdings might have been due to various factors such as strategic investment decisions, market fluctuations, or regulatory requirements.

Another surprising development is the complete sell-out of their holdings in Cazoo Group Ltd (CZOO). Sapphire Ventures had 3.25 million shares in CZOO amounting to $0.5 million in Q4 2022, but they had no holdings in CZOO in Q1 2023. Again, this might have been due to a range of factors that impact investment decisions.

On a positive note, there were some holdings that saw an increase in shares and value between the two quarters. These holdings include Braze Inc (BRZE), whose 13F shares increased 27% from 1.74 million shares in Q4 2022 to 2.21 million shares in Q1 2023. This increase in shares resulted in a corresponding increase in the value of their holdings, from $47.6 million to $60.3 million.

Similarly, UiPath Inc (PATH) saw an increase in shares from 200,000 in Q4 2022 to 200,000 in Q1 2023. This increase in shares resulted in a corresponding increase in the value of their holdings from $2.54 million to $3.5 million.

Other companies that saw no change in holdings between Q4 2022 and Q1 2023 include Monday.com Ltd (MNDY), AvidXchange Holdings Inc (AVDX), 23andMe Holding Co (ME), and ON24 Inc (ONTF).

Conclusion

Sapphire Venture's recent 13F filing is a snapshot of their holdings in publicly traded companies. This filing provides insight into their latest holdings as of the end of Q1 2023 and helps investors track changes in their portfolio over time.

Overall, Sapphire Ventures' latest 13F filings reveal some interesting changes in their holdings. The most remarkable change was a significant decrease in their holdings in JFrog Ltd (FROG), while they sold out their entire holdings in Cazoo Group Ltd (CZOO). At the same time, companies like Braze Inc (BRZE) and UiPath Inc (PATH) saw an increase in shares and value.

It's important to note that 13F filings are not an indication of a firm's entire investment portfolio and should not be the sole basis of making investment decisions. These reports provide valuable information but should be viewed in conjunction with other available data and professional investment advice.