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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
-9.9%
1 Year Est. Return
+24.15%
3 Year Est. Return
+25.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$106M
AUM Growth
+$14.4M
Cap. Flow
+$29.9M
Cap. Flow %
28.26%
Top 10 Hldgs %
71.05%
Holding
35
New
12
Increased
8
Reduced
2
Closed
13

Top Buys

Rank Stock Value
1
EQIX icon
Equinix
EQIX
+$10.5M
2
TMUS icon
T-Mobile US
TMUS
+$8.08M
3
SBAC icon
SBA Communications
SBAC
+$7.4M
4
WBD icon
Warner Bros
WBD
+$6.67M
5
CCI icon
Crown Castle
CCI
+$5.84M

Top Sells

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$9.23M
2
AMT icon
American Tower
AMT
+$5.5M
3
DIS icon
Walt Disney
DIS
+$4.98M
4
T icon
AT&T
T
+$4.76M
5
TU icon
Telus
TU
+$4.36M

Sector Composition

Rank Sector Weight
1 Communication Services 70.01%
2 Real Estate 27.69%
3 Consumer Discretionary 2.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIS icon
26
Walt Disney
DIS
$181B
– –
-52,757
Closed -$4.98M
DLR icon
27
Digital Realty Trust
DLR
$71.7B
– –
-71,074
Closed -$9.23M
FOXA icon
28
Fox Class A
FOXA
$26.9B
– –
-62,247
Closed -$2M
LUMN icon
29
Lumen
LUMN
$6.44B
– –
-161,248
Closed -$1.76M
NXST icon
30
Nexstar Media Group
NXST
$5.97B
– –
-12,094
Closed -$1.97M
OUT icon
31
Outfront Media
OUT
$5.5B
– –
-152,453
Closed -$2.54M
SIRI icon
32
SiriusXM
SIRI
$10.1B
– –
-63,094
Closed -$3.87M
SPOT icon
33
Spotify
SPOT
$100B
– –
-10,067
Closed -$945K
T icon
34
AT&T
T
$163B
– –
-227,119
Closed -$4.76M
LSXMA
35
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
– –
-25,335
Closed -$671K
1
2

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Zeno Research's Q3 2022 Portfolio in Review

As of Q3 2022, Zeno Research held 35 positions worth $106M, up 16% from $91.3M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Zeno Research deployed $29.9M of net new capital in Q3 2022, opening 12 new positions and adding to 8 existing holdings. Its largest new stake was Equinix: 15,999 shares worth $9.1M.

By sector, the portfolio is most concentrated in Communication Services at 70% of assets, up from 65% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Telus, an estimated $4.36M trimmed.

  • Zeno Research's largest Q3 2022 buy was Equinix: 15,999 shares worth $9.1M.
  • Zeno Research added most to T-Mobile US in Q3 2022, an estimated $8.08M increase.
  • Zeno Research's biggest Q3 2022 reduction was Telus, cutting an estimated $4.36M.
  • Zeno Research fully exited Digital Realty Trust in Q3 2022, selling an estimated $9.23M.
  • Zeno Research's ten largest holdings make up 71% of its $106M portfolio in Q3 2022.
  • Zeno Research opened 12 new positions and closed 13 in Q3 2022.
  • Zeno Research's portfolio value rose 16% quarter-over-quarter to $106M.

Based on Zeno Research's 13F filing for Q3 2022, filed 14 Nov 2022.