Should Investors Buy Shares of Cellebrite Alongside Portolan Capital as They Double Down on the Stock?
Key Points
Portolan Capital increased its Cellebrite position by 1,407,818 shares, worth an estimated $28.65 million.
The transaction equates to approximately 1.20% of 13F reportable assets under management (AUM).
Portolan's post-trade Cellebrite stake: 2,419,662 shares valued at $44.84 million.
Cellebrite represents approximately 2.43% of AUM and is the fund's 10th-largest holding.
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Portolan Capital Management, LLC disclosed a significant increase in its stake in Cellebrite DI Ltd. (NASDAQ:CLBT), adding 1,407,818 shares for an estimated $28.65 million as of Nov. 13, 2025.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated Nov. 13, 2025, Portolan Capital increased its holding in Cellebrite by approximately 1.4 million shares during the third quarter.
The fund reported ownership of 2,419,662 shares worth $44.84 million at quarter's end, up from the previous period.
What else to know
After the buy, the Cellebrite position accounts for 2.4% of reportable AUM.
Top holdings after the filing:
- Modine Manufacturing (NYSE:MOD): $85.6 million (4.6% of AUM)
- TTM Technologies (NASDAQ:TTMI): $68.5 million (3.7% of AUM)
- e.l.f. Beauty (NYSE:ELF): $64.6 million (3.5% of AUM)
- DigitalBridge (NYSE:DBRG): $64 million (3.5% of AUM)
- Celestica (NYSE:CLS): $62 million (3.4% of AUM)
As of Nov. 12, 2025, shares were priced at $15.97, down 14% over the past year, underperforming the S&P 500 by 27 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $455.90 million |
| Net Income (TTM) | $76.33 million |
| Price (as of market close 2025-11-12) | $15.97 |
| One-Year Price Change | -14.05% |
Company snapshot
Cellebrite:
- Offers digital intelligence solutions, including the Universal Forensic Extraction Device, Seeker, OSINT Analyze, and Crypto Tracer, focused on data collection, analysis, and management for investigations.
- Generates revenue through the sale of proprietary software platforms and related services, enabling legally sanctioned investigations across digital devices and data sources.
- Serves federal, state, and local government agencies, as well as enterprise customers and service providers worldwide.
Cellebrite is a technology company specializing in digital intelligence solutions, supporting law enforcement and enterprise clients in complex investigations.
With a global presence and a diversified product suite, the company leverages advanced data extraction and analytics capabilities to address critical challenges in digital evidence management.
Foolish take
Portolan Capital's purchase of Cellebrite is notable to investors for a few reasons.
First, the firm essentially doubled down on Cellebrite, making it Portolan's 10th-largest holding of 119 stocks. This is a significant purchase for the fund.
Second, this doubling down occurred at an average share price of around $18, compared to $11 when Portolan first purchased the stock in 2024. To me, this signifies that the firm is comfortable "adding up" on one of its winning investments -- a promising sign for long-term Cellebrite holders.
Lastly, the firm's purchase is interesting, as Cellebrite appears to have many Rule Breaker-style qualities, in my opinion.
The No. 1 solution for digital forensic examiners, Cellebrite helps over 7,000 public safety, government, and enterprise customers sift through vast amounts of data and evidence to solve a wide range of cases.
Whether helping collect, review, safeguard, analyze, or investigate evidence, Cellebrite's platform is a one-stop shop for its justice-seeking customers. As the company incorporates artificial intelligence into its platform, potentially helping to make connections within and across cases, Cellebrite could become an even more powerful force for justice.
Trading at 32 times free cash flow, Cellebrite isn't cheap. However, growing sales by 23% over the last year as the leader in its good-for-the-world niche makes the company a fun buy in my eyes.
Glossary
13F reportable assets under management (AUM): The total value of securities a fund must disclose in quarterly SEC filings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Stake: The amount of ownership or shares an investor holds in a company.
Top holdings: The largest investments in a fund’s portfolio, usually by market value.
Universal Forensic Extraction Device: A specialized tool for extracting data from digital devices for investigative purposes.
OSINT Analyze: Software that analyzes open-source intelligence, or publicly available information, for investigative use.
Crypto Tracer: A tool designed to track and analyze cryptocurrency transactions for investigations.
Proprietary software platforms: Software products owned and controlled by a company, not available for public modification or distribution.
Legally sanctioned investigations: Investigations conducted with official legal approval or authority, often by law enforcement.
TTM: The 12 months ending with the most recent quarterly report.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Celestica, Cellebrite, Modine Manufacturing, and e.l.f. Beauty. The Motley Fool has a disclosure policy.
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