Radcliff Management LLC

2. Key Holdings

The entirety of the portfolio is allocated to Sportradar Group AG, comprising 100% of the total assets with a market value of $353.33 million. Radcliff Management holds 13.13 million shares of the company. Sportradar, a global sports technology and content company, is the sole focus of the firm's capital. The fact that the portfolio value decreased by 4.2% while the share count remained static suggests that this decline is attributable entirely to market price depreciation of Sportradar's stock during the third quarter of 2025, rather than capital withdrawals. This indicates that despite a negative short-term price trend, the firm's conviction in the holding remains high enough to warrant no position sizing adjustments.

3. Sector Allocation

The sector allocation for this portfolio is listed entirely as "Unknown," though operationally, the capital is deployed within the sports technology and data services industry via Sportradar. However, from a strict reporting classification perspective, the portfolio shows a 100% allocation to a single, undefined sector category. This highlights a lack of hedging across different economic sectors. There is no exposure to traditional defensive sectors (like utilities or consumer staples), technology, finance, or healthcare. Consequently, the portfolio lacks the ability to offset volatility in the sports technology sector with stability or gains in other areas of the economy.