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ZR

Zeno Research Portfolio holdings

AUM $223M
1-Year Est. Return 24.15%
This Fund
S&P 500
This Quarter Est. Return
-1.75%
1 Year Est. Return
+24.15%
3 Year Est. Return
+25.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$223M
AUM Growth
+$42.4M
Cap. Flow
+$46.3M
Cap. Flow %
20.82%
Top 10 Hldgs %
71.36%
Holding
37
New
11
Increased
10
Reduced
5
Closed
11

Top Buys

Rank Stock Value
1
T icon
AT&T
T
+$23.1M
2
DLR icon
Digital Realty Trust
DLR
+$21.8M
3
CHTR icon
Charter Communications
CHTR
+$14.9M
4
CCI icon
Crown Castle
CCI
+$13.9M
5
OMC icon
Omnicom Group
OMC
+$9.3M

Top Sells

Rank Stock Value
1
TMUS icon
T-Mobile US
TMUS
+$21M
2
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
+$16.2M
3
AMT icon
American Tower
AMT
+$7.83M
4
WWE
World Wrestling Entertainment
WWE
+$6.6M
5
VZ icon
Verizon
VZ
+$5.88M

Sector Composition

Rank Sector Weight
1 Communication Services 79.85%
2 Real Estate 16.05%
3 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TTWO icon
26
Take-Two Interactive
TTWO
$46.1B
$486K 0.22%
+3,465
New +$499K
AMT icon
27
American Tower
AMT
$80.4B
– –
-40,372
Closed -$7.83M
CABO icon
28
Cable One
CABO
$212M
– –
-8,173
Closed -$5.37M
CMCSA icon
29
Comcast
CMCSA
$90B
– –
-119,627
Closed -$4.97M
EQIX icon
30
Equinix
EQIX
$103B
– –
-6,557
Closed -$5.14M
GTN icon
31
Gray Television
GTN
$552M
– –
-309,219
Closed -$2.44M
PARA
32
DELISTED
Paramount Global Class B
PARA
– –
-255,410
Closed -$4.06M
TMUS icon
33
T-Mobile US
TMUS
$190B
– –
-151,191
Closed -$21M
VZ icon
34
Verizon
VZ
$196B
– –
-158,129
Closed -$5.88M
CD
35
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
– –
-740,704
Closed -$5.3M
WWE
36
DELISTED
World Wrestling Entertainment
WWE
– –
-60,836
Closed -$6.6M
ATVI
37
DELISTED
Activision Blizzard
ATVI
– –
-4,287
Closed -$361K
1
2

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TOGEPT
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Zeno Research's Q3 2023 Portfolio in Review

As of Q3 2023, Zeno Research held 37 positions worth $223M, up 24% from $180M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Zeno Research deployed $46.3M of net new capital in Q3 2023, opening 11 new positions and adding to 10 existing holdings. Its largest new stake was AT&T: 1,577,907 shares worth $23.7M.

By sector, the portfolio is most concentrated in Communication Services at 80% of assets, down from 80% a quarter earlier, followed by Real Estate and Technology.

On the sell side, the largest reduction was Liberty Media Corporation Series A Liberty SiriusXM Common Stock, an estimated $16.2M trimmed.

  • Zeno Research's largest Q3 2023 buy was AT&T: 1,577,907 shares worth $23.7M.
  • Zeno Research added most to Omnicom Group in Q3 2023, an estimated $9.3M increase.
  • Zeno Research's biggest Q3 2023 reduction was Liberty Media Corporation Series A Liberty SiriusXM Common Stock, cutting an estimated $16.2M.
  • Zeno Research fully exited T-Mobile US in Q3 2023, selling an estimated $21M.
  • Zeno Research's ten largest holdings make up 71% of its $223M portfolio in Q3 2023.
  • Zeno Research opened 11 new positions and closed 11 in Q3 2023.
  • Zeno Research's portfolio value rose 24% quarter-over-quarter to $223M.

Based on Zeno Research's 13F filing for Q3 2023, filed 14 Nov 2023.