KX
KPCB XII Associates, LLC Historical SEC 13F Holdings & Archive (Q3 2020)
KPCB XII Associates, LLCCIK: 0001500599
High-turnover traderConcentrated strategy
Total reported value
$738.0K
Reporting period: 2020-09-30 · Number of holdings: 1
KPCB XII Associates, LLC disclosed 1 holdings in its latest 13F filing for the period ending 2020-09-30, with total reported value of $738.0K and a quarterly turnover rate of 100.0%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 100
- Momentum
- 50
- Sector conviction
- 0
- Diversification
- 2
- Sizing Uniformity
- —
Sector classification currently covers about 0% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd AMRSEUR
0.0% -$342.0K
Sold out INSP
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
KPCB XII Associates executed a full liquidation: exiting its 96.96% single-stock position in INSP. This is not tactical rebalancing or capital rotation—it is a fund-level cash-out, likely tied to a terminated thesis, a liquidity event, or an internal mandate shift. The portfolio now sits at effectively zero equity risk, telegraphing a deliberate pause or wind-down.
Macro & Fundamentals
The entire prior portfolio was a single micro-bet on Inspire Medical Systems’ medtech growth story. The complete exit signals that KPCB is pricing in a regime shift for sleep apnea device players—perhaps expecting margin erosion, reimbursement changes, or competitive disruption. The opposing thesis: INSP’s market leadership and revenue trajectory still command a premium, so this exit may front-run a broader sector rotation rather than an actual deterioration.
Blind Spots / Risks
The catastrophic vulnerability was binary portfolio construction: 100% concentration in one name meant zero hedge against a product recall, trial miss, or sudden short attack. Now the risk profile has inverted—the fund holds a cash pile with no existing positions, making it susceptible to a forced entry premium or a slow rebuild that misses the next conviction's window.
This narrative is generated by AI from data disclosed in this institution's SEC EDGAR Form 13F filings and describes past holdings only. It is not a recommendation to buy or sell any security; the source filing is linked below. View the original 2020-09-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AMRSEUR | Amyris Inc | Stock-Other | 100.00% | +96.96% | — |
Reported value over time
Sector allocation
Not enough sector-mapped data yet
Sector allocation over time
Quarterly history
Holding changes this quarter
KPCB XII Associates, LLC's most significant position changes for 2020-09-30: Sold out: Inspire Medical Systems Inc (INSP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMRSEUR | Amyris Inc | +97% | — | Unchanged |
| 2 | INSP | Inspire Medical Systems Inc | — | EXIT | Sold out |
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is KPCB XII Associates, LLC and what type of investor is it?
KPCB XII Associates, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2020-09-30), the firm manages a tracked equity portfolio valued at approximately $738.0K, spread across 1 disclosed positions.
What are KPCB XII Associates, LLC's largest equity positions?
Based on the latest 13F filing, KPCB XII Associates, LLC's top holdings by market value are:
1. Amyris Inc (AMRSEUR) — $738.0K (100.0%)
What changes did KPCB XII Associates, LLC make in its most recent portfolio filing?
In the latest quarter, KPCB XII Associates, LLC took a more defensive posture — trimming 0 positions and completely exiting 1 holdings. The largest of these moves: Sold out: Inspire Medical Systems Inc (INSP)
What sectors does KPCB XII Associates, LLC focus on?
Sector breakdown data is not yet available for KPCB XII Associates, LLC. Check back after the next 13F processing cycle.
Investment Profile
KPCB XII Associates, LLC's portfolio is concentrated and fast-trading.
Its turnover score has risen from 21 to 100 over the past 4 quarters — a shift toward more active trading.
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Developer Access
Access KPCB XII Associates, LLC's institutional profile programmatically:
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