Managers / Q3 2023 · view latest →
True Wind Capital Management, L.P.
CIK 0001824827 · FOUR EMBARCADERO CENTER, SUITE 2100, SAN FRANCISCO, CA, 94111 · 415-780-9975
Summary
True Wind Capital Management, L.P. reported $248M in U.S.-listed holdings across 3 positions for Q3 2023.
The portfolio is heavily concentrated: Cellebrite Di alone accounts for 41.3% of reported value.
The book was largely unchanged from Q2 2023.
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
- Other · 77.7% · $193M
- Common Stock · 22.3% · $55M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| LPROOPEN LENDING CORP | HELD | +0 | 7.55M | −$24M | $55M |
| ROVER GROUP INC | HELD | +0 | 14.46M | +$20M | $91M |
| CELLEBRITE DI LTD | HELD | +0 | 13.39M | +$6M | $102M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | CELLEBRITE DI LTD | ORDINARY SHARES | 41.27% | $102M | 13.39M |
| 2 | ROVER GROUP INC | COM CL A | 36.47% | $91M | 14.46M |
| 3 | LPROOPEN LENDING CORPhistory → | COM CL A | 22.26% | $55M | 7.55M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q2 2026 | $226M | 2 | Jul 16, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q1 2026 | $200M | 2 | May 6, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $262M | 2 | Jan 23, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $273M | 2 | Oct 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $236M | 2 | Jul 24, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $290M | 2 | Apr 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $350M | 2 | Feb 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $244M | 2 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $202M | 2 | Aug 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $196M | 2 | Apr 24, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $337M | 3 | Feb 5, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $248M | 3 | Nov 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $247M | 3 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $200M | 3 | May 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $162M | 3 | Feb 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $161M | 3 | Oct 20, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $200M | 3 | Jul 18, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $312M | 3 | Apr 26, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $412M | 3 | Feb 4, 2022 | 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 ↗.