# EDGAR Filing Document

**Accession Number:** 0001792422
**File Stem:** 0001420506-23-000149
**Filing Date:** 2023-1
**Character Count:** 10662
**Document Hash:** 712a641ee67d6e95b83f3425974e6ab3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-23-000149.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001420506-23-000149

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**EFFECTIVENESS DATE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUE SIGNAL LP
- **CENTRAL INDEX KEY:** 0001792422
- **IRS NUMBER:** 475568942
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22764
- **FILM NUMBER:** 23558027

**BUSINESS ADDRESS:**
- **STREET 1:** 165 MERCER STREET
- **STREET 2:** FLOOR 2
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10012
- **BUSINESS PHONE:** 646-926-1089

**MAIL ADDRESS:**
- **STREET 1:** 165 MERCER STREET
- **STREET 2:** FLOOR 2
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10012

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** TRUE SIGNAL LP<br>**Address:** 165 MERCER STREET<br>FLOOR 2<br>NEW YORK, NY 10012

**Form 13F File Number:** 028-22764

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jin Ho Choi<br>**Title:** Portfolio Manager<br>**Phone:** 929-314-4271

**Signature, Place, and Date of Signing:**

Jin Ho Choi Portfolio Manager  NEW YORK, NY  01-26-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 75

**Form 13F Information Table Value Total:** $132717798

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AMAZON COM INC | COM | 023135106 |  | 3275328 | 38992 | SH |  | SOLE |  | 38992 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 3661427 | 28180 | SH |  | SOLE |  | 28180 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 2239291 | 908 | SH |  | SOLE |  | 908 | 0 | 0 |
| AVIS BUDGET GROUP | COM | 053774105 |  | 1227180 | 7486 | SH |  | SOLE |  | 7486 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 1720344 | 21448 | SH |  | SOLE |  | 21448 | 0 | 0 |
| BLOOMIN BRANDS INC | COM | 094235108 |  | 678426 | 33719 | SH |  | SOLE |  | 33719 | 0 | 0 |
| BOOT BARN HLDGS INC | COM | 099406100 |  | 2118928 | 33892 | SH |  | SOLE |  | 33892 | 0 | 0 |
| BRINKER INTL INC | COM | 109641100 |  | 804738 | 25219 | SH |  | SOLE |  | 25219 | 0 | 0 |
| BUMBLE INC | COM CL A | 12047B105 |  | 1117334 | 53080 | SH |  | SOLE |  | 53080 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 5061903 | 24965 | SH |  | SOLE |  | 24965 | 0 | 0 |
| CALERES INC | COM | 129500104 |  | 591133 | 26532 | SH |  | SOLE |  | 26532 | 0 | 0 |
| CAPRI HOLDINGS LIMITED | SHS | G1890L107 |  | 1215241 | 21201 | SH |  | SOLE |  | 21201 | 0 | 0 |
| CHEGG INC | COM | 163092109 |  | 1834172 | 72583 | SH |  | SOLE |  | 72583 | 0 | 0 |
| CHEWY INC | CL A | 16679L109 |  | 413702 | 11157 | SH |  | SOLE |  | 11157 | 0 | 0 |
| COLUMBIA SPORTSWEAR CO | COM | 198516106 |  | 300575 | 3432 | SH |  | SOLE |  | 3432 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 7309451 | 78436 | SH |  | SOLE |  | 78436 | 0 | 0 |
| DESIGNER BRANDS INC | CL A | 250565108 |  | 206915 | 21157 | SH |  | SOLE |  | 21157 | 0 | 0 |
| DILLARDS INC | CL A | 254067101 |  | 1923686 | 5952 | SH |  | SOLE |  | 5952 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 3885923 | 27474 | SH |  | SOLE |  | 27474 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 2340187 | 47935 | SH |  | SOLE |  | 47935 | 0 | 0 |
| DUTCH BROS INC | CL A | 26701L100 |  | 255035 | 9047 | SH |  | SOLE |  | 9047 | 0 | 0 |
| ETSY INC | COM | 29786A106 |  | 5851133 | 48849 | SH |  | SOLE |  | 48849 | 0 | 0 |
| FIGS INC | CL A | 30260D103 |  | 83957 | 12475 | SH |  | SOLE |  | 12475 | 0 | 0 |
| FIRST WATCH RESTAURANT GROUP | COM | 33748L101 |  | 208335 | 15398 | SH |  | SOLE |  | 15398 | 0 | 0 |
| FOOT LOCKER INC | COM | 344849104 |  | 3423396 | 90590 | SH |  | SOLE |  | 90590 | 0 | 0 |
| GENESCO INC | COM | 371532102 |  | 213119 | 4631 | SH |  | SOLE |  | 4631 | 0 | 0 |
| GROCERY OUTLET HLDG CORP | COM | 39874R101 |  | 1920206 | 65783 | SH |  | SOLE |  | 65783 | 0 | 0 |
| HANESBRANDS INC | COM | 410345102 |  | 70227 | 11042 | SH |  | SOLE |  | 11042 | 0 | 0 |
| HANESBRANDS INC | COM | 410345102 |  | 232865 | 36614 | SH |  | SOLE |  | 36614 | 0 | 0 |
| JACK IN THE BOX INC | COM | 466367109 |  | 1341811 | 19666 | SH |  | SOLE |  | 19666 | 0 | 0 |
| KRISPY KREME INC | COM | 50101L106 |  | 682616 | 66145 | SH |  | SOLE |  | 66145 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 298909 | 6705 | SH |  | SOLE |  | 6705 | 0 | 0 |
| KURA SUSHI USA INC | CL A COM | 501270102 |  | 315260 | 6612 | SH |  | SOLE |  | 6612 | 0 | 0 |
| LA Z BOY INC | COM | 505336107 |  | 418336 | 18332 | SH |  | SOLE |  | 18332 | 0 | 0 |
| LESLIES INC | COM | 527064109 |  | 402722 | 32983 | SH |  | SOLE |  | 32983 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 300762 | 19379 | SH |  | SOLE |  | 19379 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 2583544 | 8064 | SH |  | SOLE |  | 8064 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 631611 | 57315 | SH |  | SOLE |  | 57315 | 0 | 0 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 971281 | 23410 | SH |  | SOLE |  | 23410 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 7946220 | 30153 | SH |  | SOLE |  | 30153 | 0 | 0 |
| MEDIFAST INC | COM | 58470H101 |  | 825329 | 7155 | SH |  | SOLE |  | 7155 | 0 | 0 |
| MISTER CAR WASH INC | COM | 60646V105 |  | 338981 | 36726 | SH |  | SOLE |  | 36726 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 4910567 | 5818 | SH |  | SOLE |  | 5818 | 0 | 0 |
| OXFORD INDS INC | COM | 691497309 |  | 636326 | 6829 | SH |  | SOLE |  | 6829 | 0 | 0 |
| PAPA JOHNS INTL INC | COM | 698813102 |  | 636256 | 7730 | SH |  | SOLE |  | 7730 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 2052062 | 28813 | SH |  | SOLE |  | 28813 | 0 | 0 |
| PVH CORPORATION | COM | 693656100 |  | 1180759 | 16727 | SH |  | SOLE |  | 16727 | 0 | 0 |
| RENT THE RUNWAY INC | COM CL A | 76010Y103 |  | 107506 | 35248 | SH |  | SOLE |  | 35248 | 0 | 0 |
| RESTAURANT BRANDS INTL INC | COM | 76131D103 |  | 2524264 | 39033 | SH |  | SOLE |  | 39033 | 0 | 0 |
| RUTHS HOSPITALITY GROUP INC | COM | 783332109 |  | 335405 | 21667 | SH |  | SOLE |  | 21667 | 0 | 0 |
| SALLY BEAUTY HLDGS INC | COM | 79546E104 |  | 1031210 | 82365 | SH |  | SOLE |  | 82365 | 0 | 0 |
| SHAKE SHACK INC | CL A | 819047101 |  | 1862620 | 44850 | SH |  | SOLE |  | 44850 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 7569878 | 31896 | SH |  | SOLE |  | 31896 | 0 | 0 |
| SIGNET JEWELERS LIMITED | SHS | G81276100 |  | 283084 | 4163 | SH |  | SOLE |  | 4163 | 0 | 0 |
| SKECHERS U S A INC | CL A | 830566105 |  | 1188485 | 28331 | SH |  | SOLE |  | 28331 | 0 | 0 |
| SKILLZ INC | COM | 83067L109 |  | 90493 | 178840 | SH |  | SOLE |  | 178840 | 0 | 0 |
| SLEEP NUMBER CORP | COM | 83125X103 |  | 727778 | 28013 | SH |  | SOLE |  | 28013 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 420673 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 2029969 | 53308 | SH |  | SOLE |  | 53308 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 4755419 | 31907 | SH |  | SOLE |  | 31907 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 1057021 | 11622 | SH |  | SOLE |  | 11622 | 0 | 0 |
| THE REALREAL INC | COM | 88339P101 |  | 55245 | 44196 | SH |  | SOLE |  | 44196 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 3917355 | 49213 | SH |  | SOLE |  | 49213 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 739476 | 3287 | SH |  | SOLE |  | 3287 | 0 | 0 |
| UDEMY INC | COM | 902685106 |  | 352286 | 33392 | SH |  | SOLE |  | 33392 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 6688469 | 14259 | SH |  | SOLE |  | 14259 | 0 | 0 |
| UNDER ARMOUR INC | CL A | 904311107 |  | 1493845 | 147032 | SH |  | SOLE |  | 147032 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 1573523 | 41738 | SH |  | SOLE |  | 41738 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 5797738 | 33351 | SH |  | SOLE |  | 33351 | 0 | 0 |
| VERA BRADLEY INC | COM | 92335C106 |  | 49137 | 10847 | SH |  | SOLE |  | 10847 | 0 | 0 |
| VICTORIAS SECRET AND CO | COMMON STOCK | 926400102 |  | 296366 | 8283 | SH |  | SOLE |  | 8283 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 3207290 | 22620 | SH |  | SOLE |  | 22620 | 0 | 0 |
| WENDYS CO | COM | 95058W100 |  | 394215 | 17420 | SH |  | SOLE |  | 17420 | 0 | 0 |
| WINGSTOP INC | COM | 974155103 |  | 1379365 | 10023 | SH |  | SOLE |  | 10023 | 0 | 0 |
| YETI HLDGS INC | COM | 98585X104 |  | 2132174 | 51614 | SH |  | SOLE |  | 51614 | 0 | 0 |

---