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XL

XN LP Portfolio holdings

AUM $2.72B
1-Year Est. Return 46.67%
This Fund
S&P 500
This Quarter Est. Return
+8.36%
1 Year Est. Return
+46.67%
3 Year Est. Return
+151.32%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$529M
AUM Growth
-$328M
Cap. Flow
-$356M
Cap. Flow %
-67.33%
Top 10 Hldgs %
98.58%
Holding
15
New
1
Increased
3
Reduced
8
Closed
3

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$40.9M
2
PCOR icon
Procore
PCOR
+$7.99M
3
BURL icon
Burlington
BURL
+$2.58M
4
CZR icon
Caesars Entertainment
CZR
+$1.65M

Top Sells

Rank Stock Value
1
TMUS icon
T-Mobile US
TMUS
+$91.9M
2
ESTC icon
Elastic
ESTC
+$64.6M
3
UBER icon
Uber
UBER
+$58.1M
4
CMCSA icon
Comcast
CMCSA
+$57.3M
5
WAB icon
Wabtec
WAB
+$34.1M

Sector Composition

Rank Sector Weight
1 Industrials 45.3%
2 Communication Services 29.26%
3 Technology 17.04%
4 Consumer Discretionary 7.4%
5 Financials 1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WAB icon
1
Wabtec
WAB
$49.1B
$154M 29.08%
1,541,583
-356,409
-19% -$34.1M
GOOG icon
2
Alphabet (Google) Class C
GOOG
$4.36T
$93.7M 17.7%
1,055,767
+428,220
+68% +$40.9M
TDG icon
3
TransDigm Group
TDG
$70.2B
$85.8M 16.22%
136,323
-37,072
-21% -$21.8M
CMCSA icon
4
Comcast
CMCSA
$85B
$61.2M 11.56%
1,748,977
-1,733,091
-50% -$57.3M
PCOR icon
5
Procore
PCOR
$8.26B
$35.3M 6.67%
747,701
+156,506
+26% +$7.99M
AMZN icon
6
Amazon
AMZN
$2.92T
$31.6M 5.98%
376,666
-231,494
-38% -$22.9M
ESTC icon
7
Elastic
ESTC
$6.84B
$23.4M 4.42%
454,478
-1,077,868
-70% -$64.6M
UBER icon
8
Uber
UBER
$143B
$17.5M 3.31%
707,880
-2,124,583
-75% -$58.1M
MSFT icon
9
Microsoft
MSFT
$3.45T
$14M 2.64%
58,185
-69,312
-54% -$16.6M
V icon
10
Visa
V
$684B
$5.29M 1%
25,466
-161,789
-86% -$32.6M
CZR icon
11
Caesars Entertainment
CZR
$6.06B
$4.22M 0.8%
101,488
+36,953
+57% +$1.65M
BURL icon
12
Burlington
BURL
$23.2B
$3.27M 0.62%
+16,137
New +$2.58M
TMUS icon
13
T-Mobile US
TMUS
$185B
– –
-685,060
Closed -$91.9M
TWLO icon
14
Twilio
TWLO
$30B
– –
-24,325
Closed -$1.68M
FTCH
15
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
– –
-1,026,785
Closed -$7.65M

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NCM
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XN LP's Q4 2022 Portfolio in Review

As of Q4 2022, XN LP held 15 positions worth $529M, down 38% from $857M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

XN LP withdrew a net $356M in Q4 2022, closing 3 positions and reducing 8 holdings. Its most notable exit was T-Mobile US, an estimated $91.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 45% of assets, up from 30% a quarter earlier, followed by Communication Services and Technology.

Against the trend, XN LP opened a new position in Burlington worth $3.27M.

  • XN LP's largest Q4 2022 buy was Burlington: 16,137 shares worth $3.27M.
  • XN LP added most to Alphabet (Google) Class C in Q4 2022, an estimated $40.9M increase.
  • XN LP's biggest Q4 2022 reduction was Elastic, cutting an estimated $64.6M.
  • XN LP fully exited T-Mobile US in Q4 2022, selling an estimated $91.9M.
  • XN LP's ten largest holdings make up 99% of its $529M portfolio in Q4 2022.
  • XN LP opened 1 new position and closed 3 in Q4 2022.
  • XN LP's portfolio value fell 38% quarter-over-quarter to $529M.

Based on XN LP's 13F filing for Q4 2022, filed 14 Feb 2023.