The Rise and Fall of Fund Holdings: HarbourVest Partners LLC Q3 2022 vs. Q4 2022

HarbourVest Partners LLC recently released its 13F filings for Q3 2022 and Q4 2022, showcasing the changes in the firm's portfolio holdings over the past quarter. These filings are required by the Securities and Exchange Commission (SEC), which requires all money managers overseeing more than $100 million in qualifying assets to submit a 13F form each quarter. HarbourVest Partners LLC is an institutional investment firm, and its 13F filings provide insight into the growth or shrinkage of its holdings, as well as the movements of its top-performing securities.

During Q3 2022, HarbourVest Partners' top-performing holdings were in Toast, N-Able, Wayfair, Solarwinds, and AvidXchange. These companies represented a mix of industries, including foodtech, technology infrastructure, and fintech. Together, these holdings were valued at $258.7 million. However, this portfolio shifted during Q4 2022, with some of these previous winners dropping out of the top-performing holdings. Instead, the firm's top-performing holdings in Q4 2022 were made up of Payoneer, Zoom Information, Digital Ocean, and Procore Technologies. These companies represented a similar spread of industries as the Q3 2022 holdings, including digital payments, software, and fintech.

One of the most significant changes in HarbourVest Partners LLC's holdings was the addition of Rocket Lab USA in Q4 2022. The company received 95,416 shares from the investment firm, representing a significant investment in the emerging space technology industry. Additionally, the firm also added holdings in UiPath and ACV Auctions during the quarter, indicating its interest in the digital operations space.

However, not every investment panned out during Q4 2022. HarbourVest Partners LLC sold off its entire holdings in Pacific Biosciences of California, Inc., after holding onto the stock for three consecutive quarters. The investment firm also discontinued its positions in Rallybio Holdings, LLC, LegalZoom.com, Inc., and Seres Therapeutics, Inc.

While HarbourVest Partners LLC's holdings have seen significant shifts in Q4 2022, the firm's total portfolio remains strong, with some of its top holdings continuing to perform well. As we head into Q1 2023, it will be interesting to see how these trends continue to play out and which emerging industries HarbourVest Partners will choose to invest in.