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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
-0.36%
1 Year Est. Return
+24.15%
3 Year Est. Return
+25.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$116M
AUM Growth
+$12.7M
Cap. Flow
+$13.1M
Cap. Flow %
11.27%
Top 10 Hldgs %
74.58%
Holding
37
New
10
Increased
9
Reduced
3
Closed
15

Top Buys

Rank Stock Value
1
RCI icon
Rogers Communications
RCI
+$14.6M
2
SBAC icon
SBA Communications
SBAC
+$11M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$6.12M
4
IAS
Integral Ad Science
IAS
+$5.44M
5
PRKS icon
United Parks & Resorts
PRKS
+$4.35M

Top Sells

Rank Stock Value
1
LAMR icon
Lamar Advertising Co
LAMR
+$8.19M
2
WMG icon
Warner Music
WMG
+$7.96M
3
T icon
AT&T
T
+$5.13M
4
AMT icon
American Tower
AMT
+$5.02M
5
DY icon
Dycom Industries
DY
+$4.5M

Sector Composition

Rank Sector Weight
1 Communication Services 67.22%
2 Real Estate 19.33%
3 Consumer Discretionary 9.04%
4 Technology 0.29%
5 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RCI icon
1
Rogers Communications
RCI
$18.6B
$16M 13.82%
+282,519
New +$14.6M
GOOGL icon
2
Alphabet (Google) Class A
GOOGL
$4.33T
$12.7M 10.99%
91,580
+45,040
+97% +$6.12M
SBAC icon
3
SBA Communications
SBAC
$19.5B
$11.7M 10.06%
+33,873
New +$11M
TMUS icon
4
T-Mobile US
TMUS
$190B
$9.39M 8.1%
73,133
+8,845
+14% +$1.05M
TU icon
5
Telus
TU
$15.3B
$7.96M 6.86%
304,034
+76,646
+34% +$1.89M
EQIX icon
6
Equinix
EQIX
$103B
$7.48M 6.45%
10,082
+4,549
+82% +$3.27M
CMCSA icon
7
Comcast
CMCSA
$90B
$5.95M 5.13%
127,024
+85,880
+209% +$4.14M
AMZN icon
8
Amazon
AMZN
$2.96T
$5.54M 4.78%
33,960
+12,840
+61% +$1.98M
PRKS icon
9
United Parks & Resorts
PRKS
$2.12B
$4.93M 4.26%
+66,292
New +$4.35M
LSXMA
10
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$4.78M 4.12%
142,322
+98,594
+225% +$3.47M
IAS
11
DELISTED
Integral Ad Science
IAS
$4.69M 4.05%
339,900
+319,439
+1,561% +$5.44M
DIS icon
12
Walt Disney
DIS
$181B
$4.24M 3.66%
30,893
+15,616
+102% +$2.26M
WMG icon
13
Warner Music
WMG
$13.8B
$4.2M 3.62%
110,909
-210,091
-65% -$7.96M
FOXA icon
14
Fox Class A
FOXA
$26.9B
$3.92M 3.39%
99,455
-64,806
-39% -$2.63M
PARA
15
DELISTED
Paramount Global Class B
PARA
$3.17M 2.73%
+83,752
New +$2.85M
OUT icon
16
Outfront Media
OUT
$5.5B
$2.7M 2.33%
+96,531
New +$2.48M
CD
17
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
$1.77M 1.52%
+279,554
New +$1.54M
SPOT icon
18
Spotify
SPOT
$100B
$1.52M 1.31%
10,085
-8,173
-45% -$1.39M
IPG
19
DELISTED
Interpublic Group of Companies
IPG
$1.35M 1.17%
+38,103
New +$1.37M
CNK icon
20
Cinemark Holdings
CNK
$4.32B
$993K 0.86%
+57,487
New +$956K
UNIT
21
Uniti Group
UNIT
$2.32B
$566K 0.49%
+41,149
New +$521K
VNET
22
VNET Group
VNET
$2.09B
$340K 0.29%
+58,315
New +$448K
AMT icon
23
American Tower
AMT
$80.4B
– –
-17,168
Closed -$5.02M
OPTU
24
Optimum Communications Inc
OPTU
$301M
– –
-124,221
Closed -$2.01M
DY icon
25
Dycom Industries
DY
$12.3B
– –
-48,008
Closed -$4.5M
1
2

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Zeno Research's Q1 2022 Portfolio in Review

As of Q1 2022, Zeno Research held 37 positions worth $116M, up 12% from $103M the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Zeno Research deployed $13.1M of net new capital in Q1 2022, opening 10 new positions and adding to 9 existing holdings. Its largest new stake was Rogers Communications: 282,519 shares worth $16M.

By sector, the portfolio is most concentrated in Communication Services at 67% of assets, down from 70% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Warner Music, an estimated $7.96M trimmed.

  • Zeno Research's largest Q1 2022 buy was Rogers Communications: 282,519 shares worth $16M.
  • Zeno Research added most to Alphabet (Google) Class A in Q1 2022, an estimated $6.12M increase.
  • Zeno Research's biggest Q1 2022 reduction was Warner Music, cutting an estimated $7.96M.
  • Zeno Research fully exited Lamar Advertising Co in Q1 2022, selling an estimated $8.19M.
  • Zeno Research's ten largest holdings make up 75% of its $116M portfolio in Q1 2022.
  • Zeno Research opened 10 new positions and closed 15 in Q1 2022.
  • Zeno Research's portfolio value rose 12% quarter-over-quarter to $116M.

Based on Zeno Research's 13F filing for Q1 2022, filed 29 Apr 2022.