Managers / Q4 2022 · view latest →
Francisco Partners Management, LP
CIK 0001197853 · ONE LETTERMAN DRIVE, BUILDING C, SUITE 410, SAN FRANCISCO, CA, 94129 · 415-418-2900
Summary
Francisco Partners Management, LP reported $894M in U.S.-listed holdings across 8 positions for Q4 2022.
The portfolio is heavily concentrated: GDRX alone accounts for 44.2% of reported value.
Compared with Q3 2022, the fund opened 2 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 95.8% · $856M
- Other · 4.2% · $38M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| Paysafe Limited | NEW | +1.72M | 1.72M | +$24M | $24M |
| Satixfy Communications Ltd | NEW | +817.4K | 817.4K | +$6M | $6M |
| Paysafe Limited | SOLD OUT | −20.65M | 0 | −$28M | $0 |
| Terran Orbital Corporation | TRIMMED | −408.7K | 4.84M | −$2M | $8M |
| LZLegalZoom Com Inc | HELD | +0 | 28.63M | −$24M | $222M |
| ETWOGBPE2Open Parent Holdings Inc | HELD | +0 | 38.69M | −$8M | $227M |
| GDRXGoodRx Hldgs Inc | HELD | +0 | 84.70M | −$847,437 | $395M |
| TNETTrinet Group Inc | HELD | +0 | 152.0K | −$519,976 | $10M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2022
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GDRXGoodRx Hldgs Inchistory → | COM CL A | 44.15% | $395M | 84.70M |
| 2 | ETWOGBPE2Open Parent Holdings Inchistory → | COM CL A | 25.40% | $227M | 38.69M |
| 3 | LZLegalZoom Com Inchistory → | COM | 24.79% | $222M | 28.63M |
| 4 | Paysafe Limited | SHS | 2.67% | $24M | 1.72M |
| 5 | TNETTrinet Group Inchistory → | COM | 1.15% | $10M | 152.0K |
| 6 | Terran Orbital Corporation | COM | 0.86% | $8M | 4.84M |
| 7 | Satixfy Communications Ltd | ORD SHS | 0.71% | $6M | 817.4K |
| 8 | NSHEURSpire Global Inc | COM CL A | 0.27% | $2M | 2.47M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $292M | 3 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $461M | 3 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $573M | 3 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $719M | 5 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $623M | 5 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $861M | 6 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $1.1B | 8 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $1.1B | 8 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $1.1B | 8 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $1.1B | 8 | Feb 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $997M | 8 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $1.1B | 8 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $1.1B | 9 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $894M | 8 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $927M | 7 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $1.2B | 7 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $2.5B | 7 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $3.8B | 5 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $4.9B | 5 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $4.4B | 3 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $3.6B | 2 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $3.4B | 1 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | Under review | 1 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $23M | 2 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $181M | 2 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $204M | 2 | Feb 18, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2019 | $17M | 2 | Oct 17, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $20M | 2 | Jul 11, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $21M | 2 | May 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $18M | 2 | Jan 25, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.