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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
+10.26%
1 Year Est. Return
+24.15%
3 Year Est. Return
+25.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$151M
AUM Growth
+$45.5M
Cap. Flow
+$38.1M
Cap. Flow %
25.2%
Top 10 Hldgs %
67.37%
Holding
32
New
10
Increased
9
Reduced
6
Closed
7

Top Buys

Rank Stock Value
1
AMT icon
American Tower
AMT
+$9.64M
2
WMG icon
Warner Music
WMG
+$9.47M
3
T icon
AT&T
T
+$9.27M
4
AMZN icon
Amazon
AMZN
+$6.21M
5
CCOI icon
Cogent Communications
CCOI
+$5.44M

Top Sells

Rank Stock Value
1
CCI icon
Crown Castle
CCI
+$4.93M
2
VZ icon
Verizon
VZ
+$4.65M
3
OMC icon
Omnicom Group
OMC
+$4.44M
4
RCI icon
Rogers Communications
RCI
+$3.77M
5
TU icon
Telus
TU
+$3.72M

Sector Composition

Rank Sector Weight
1 Communication Services 68.46%
2 Real Estate 24.45%
3 Consumer Discretionary 4.19%
4 Industrials 1.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCI icon
26
Crown Castle
CCI
$32.2B
– –
-34,098
Closed -$4.93M
CMCSA icon
27
Comcast
CMCSA
$90B
– –
-101,016
Closed -$2.96M
FYBR
28
DELISTED
Frontier Communications
FYBR
– –
-115,499
Closed -$2.71M
ROKU icon
29
Roku
ROKU
$22.7B
– –
-22,859
Closed -$1.29M
SBGI icon
30
Sinclair Inc
SBGI
$1.03B
– –
-101,413
Closed -$1.83M
TU icon
31
Telus
TU
$15.3B
– –
-187,346
Closed -$3.72M
VZ icon
32
Verizon
VZ
$196B
– –
-122,565
Closed -$4.65M
1
2

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RCGI
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KWA
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DLG
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GGPE
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SWA
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TOGEPT
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Zeno Research's Q4 2022 Portfolio in Review

As of Q4 2022, Zeno Research held 32 positions worth $151M, up 43% from $106M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Zeno Research deployed $38.1M of net new capital in Q4 2022, opening 10 new positions and adding to 9 existing holdings. Its largest new stake was American Tower: 46,306 shares worth $9.81M.

By sector, the portfolio is most concentrated in Communication Services at 68% of assets, down from 70% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Omnicom Group, an estimated $4.44M trimmed.

  • Zeno Research's largest Q4 2022 buy was American Tower: 46,306 shares worth $9.81M.
  • Zeno Research added most to Warner Music in Q4 2022, an estimated $9.47M increase.
  • Zeno Research's biggest Q4 2022 reduction was Omnicom Group, cutting an estimated $4.44M.
  • Zeno Research fully exited Crown Castle in Q4 2022, selling an estimated $4.93M.
  • Zeno Research's ten largest holdings make up 67% of its $151M portfolio in Q4 2022.
  • Zeno Research opened 10 new positions and closed 7 in Q4 2022.
  • Zeno Research's portfolio value rose 43% quarter-over-quarter to $151M.

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