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ZEP
Zeno Equity Partners Portfolio holdings
AUM
$269M
1-Year Est. Return
6.35%
This Fund
S&P 500
This Quarter
Est. Return
+7.53%
1 Year Est. Return
+6.35%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$232M
AUM Growth
-$44.6M
(-16%)
Cap. Flow
-$56.4M
Cap. Flow
% of AUM
-24.34%
Top 10 Holdings %
Top 10 Hldgs %
99.74%
Holding
13
New
1
Increased
5
Reduced
3
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Danaher
DHR
|
+$12.9M |
| 2 |
Itaú Unibanco
ITUB
|
+$3.49M |
| 3 |
SGI
Somnigroup International
SGI
|
+$3.2M |
| 4 |
Linde
LIN
|
+$2.36M |
| 5 |
HEICO Corp Class A
HEI.A
|
+$1.13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AppFolio
APPF
|
+$19.5M |
| 2 |
Medpace
MEDP
|
+$19M |
| 3 |
GE Aerospace
GE
|
+$17.8M |
| 4 |
Texas Instruments
TXN
|
+$12.2M |
| 5 |
Amazon
AMZN
|
+$12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.09% |
| 2 | Consumer Discretionary | 17.91% |
| 3 | Consumer Staples | 16.2% |
| 4 | Technology | 14.95% |
| 5 | Materials | 13.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Danaher
DHR
$142B
| $51.2M | 22.09% |
258,939
+66,489
| +35% | +$12.9M |
|
2
Waldencast
WALD
$173M
| $37.6M | 16.2% |
15,335,543
| – | – |
|
|
3
Linde
LIN
$223B
| $32.4M | 13.96% |
69,003
+5,179
| +8% | +$2.36M |
|
|
4
Amazon
AMZN
$2.83T
| $26M | 11.21% |
118,477
-60,635
| -34% | -$12M |
|
5
Amphenol
APH
$206B
| $17.4M | 7.51% |
176,195
+12,016
| +7% | +$983K |
|
|
6
Texas Instruments
TXN
$255B
| $17.3M | 7.44% |
83,116
-68,470
| -45% | -$12.2M |
|
|
7
HEICO Corp Class A
HEI.A
$38.4B
| $16.3M | 7.04% |
63,069
+5,180
| +9% | +$1.13M |
|
|
SGI
8
Somnigroup International
SGI
$13.9B
| $15.5M | 6.7% |
228,382
+50,787
| +29% | +$3.2M |
|
|
9
GE Aerospace
GE
$382B
| $13.8M | 5.94% |
53,530
-81,270
| -60% | -$17.8M |
|
|
10
Itaú Unibanco
ITUB
$81.6B
| $3.8M | 1.64% |
+572,909
| New | +$3.49M |
|
|
11
Waldencast PLC Warrant
WALDW
$2.63M
| $606K | 0.26% |
6,247,775
| – | – |
|
|
12
AppFolio
APPF
$7.23B
| – | – |
-88,789
| Closed | -$19.5M |
|
|
13
Medpace
MEDP
$16.1B
| – | – |
-62,304
| Closed | -$19M |
|
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Zeno Equity Partners's Q2 2025 Portfolio in Review
As of Q2 2025, Zeno Equity Partners held 13 positions worth $232M, down 16% from $277M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Zeno Equity Partners withdrew a net $56.4M in Q2 2025, closing 2 positions and reducing 3 holdings. Its most notable exit was AppFolio, an estimated $19.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 21% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
Against the trend, Zeno Equity Partners opened a new position in Itaú Unibanco worth $3.8M.
- Zeno Equity Partners's largest Q2 2025 buy was Itaú Unibanco: 572,909 shares worth $3.8M.
- Zeno Equity Partners added most to Danaher in Q2 2025, an estimated $12.9M increase.
- Zeno Equity Partners's biggest Q2 2025 reduction was GE Aerospace, cutting an estimated $17.8M.
- Zeno Equity Partners fully exited AppFolio in Q2 2025, selling an estimated $19.5M.
- Zeno Equity Partners's ten largest holdings make up 100% of its $232M portfolio in Q2 2025.
- Zeno Equity Partners opened 1 new position and closed 2 in Q2 2025.
- Zeno Equity Partners's portfolio value fell 16% quarter-over-quarter to $232M.
Based on Zeno Equity Partners's 13F filing for Q2 2025, filed 11 Aug 2025.