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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
-12.51%
1 Year Est. Return
+24.15%
3 Year Est. Return
+25.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$91.3M
AUM Growth
-$24.5M
Cap. Flow
-$10.8M
Cap. Flow %
-11.87%
Top 10 Hldgs %
72.85%
Holding
33
New
11
Increased
5
Reduced
7
Closed
10

Top Buys

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$9.82M
2
CHTR icon
Charter Communications
CHTR
+$7.69M
3
AMT icon
American Tower
AMT
+$5.39M
4
T icon
AT&T
T
+$4.53M
5
OMC icon
Omnicom Group
OMC
+$4.14M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$12.7M
2
EQIX icon
Equinix
EQIX
+$7.48M
3
TMUS icon
T-Mobile US
TMUS
+$7.11M
4
CMCSA icon
Comcast
CMCSA
+$5.95M
5
IAS
Integral Ad Science
IAS
+$4.69M

Sector Composition

Rank Sector Weight
1 Communication Services 65.41%
2 Real Estate 28.41%
3 Consumer Discretionary 5.45%
4 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RCI icon
1
Rogers Communications
RCI
$18.6B
$9.63M 10.54%
200,863
-81,656
-29% -$4.27M
DLR icon
2
Digital Realty Trust
DLR
$71.7B
$9.23M 10.1%
+71,074
New +$9.82M
SBAC icon
3
SBA Communications
SBAC
$19.5B
$8.68M 9.5%
27,123
-6,750
-20% -$2.27M
TU icon
4
Telus
TU
$15.3B
$8.52M 9.33%
382,494
+78,460
+26% +$1.94M
CHTR icon
5
Charter Communications
CHTR
$18.2B
$7.39M 8.09%
+15,777
New +$7.69M
AMT icon
6
American Tower
AMT
$80.4B
$5.5M 6.02%
+21,499
New +$5.39M
DIS icon
7
Walt Disney
DIS
$181B
$4.98M 5.45%
52,757
+21,864
+71% +$2.43M
T icon
8
AT&T
T
$163B
$4.76M 5.21%
+227,119
New +$4.53M
AMZN icon
9
Amazon
AMZN
$2.96T
$4M 4.37%
37,614
+3,654
+11% +$457K
SIRI icon
10
SiriusXM
SIRI
$10.1B
$3.87M 4.23%
+63,094
New +$3.92M
OMC icon
11
Omnicom Group
OMC
$23.4B
$3.56M 3.9%
+55,980
New +$4.14M
OUT icon
12
Outfront Media
OUT
$5.5B
$2.54M 2.78%
152,453
+55,922
+58% +$1.22M
TMUS icon
13
T-Mobile US
TMUS
$190B
$2.51M 2.75%
18,661
-54,472
-74% -$7.11M
CD
14
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
$2.5M 2.74%
322,041
+42,487
+15% +$274K
CCOI icon
15
Cogent Communications
CCOI
$508M
$2.04M 2.23%
+33,579
New +$2.07M
FOXA icon
16
Fox Class A
FOXA
$26.9B
$2M 2.19%
62,247
-37,208
-37% -$1.31M
NXST icon
17
Nexstar Media Group
NXST
$5.97B
$1.97M 2.16%
+12,094
New +$2.04M
META icon
18
Meta Platforms (Facebook)
META
$1.51T
$1.94M 2.13%
+12,058
New +$2.33M
LUMN icon
19
Lumen
LUMN
$6.44B
$1.76M 1.93%
+161,248
New +$1.81M
LYV icon
20
Live Nation Entertainment
LYV
$42.1B
$1.37M 1.5%
+16,605
New +$1.6M
PRKS icon
21
United Parks & Resorts
PRKS
$2.12B
$983K 1.08%
22,250
-44,042
-66% -$2.56M
SPOT icon
22
Spotify
SPOT
$100B
$945K 1.03%
10,067
-18
-0.2% -$2.03K
LSXMA
23
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$671K 0.73%
25,335
-116,987
-82% -$3.5M
CMCSA icon
24
Comcast
CMCSA
$90B
– –
-127,024
Closed -$5.95M
CNK icon
25
Cinemark Holdings
CNK
$4.32B
– –
-57,487
Closed -$993K
1
2

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DLG
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SWA
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TOGEPT
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Zeno Research's Q2 2022 Portfolio in Review

As of Q2 2022, Zeno Research held 33 positions worth $91.3M, down 21% from $116M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Zeno Research withdrew a net $10.8M in Q2 2022, closing 10 positions and reducing 7 holdings. Its most notable exit was Alphabet (Google) Class A, an estimated $12.7M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 65% of assets, down from 67% a quarter earlier, followed by Real Estate and Consumer Discretionary.

Against the trend, Zeno Research opened a new position in Digital Realty Trust worth $9.23M.

  • Zeno Research's largest Q2 2022 buy was Digital Realty Trust: 71,074 shares worth $9.23M.
  • Zeno Research added most to Walt Disney in Q2 2022, an estimated $2.43M increase.
  • Zeno Research's biggest Q2 2022 reduction was T-Mobile US, cutting an estimated $7.11M.
  • Zeno Research fully exited Alphabet (Google) Class A in Q2 2022, selling an estimated $12.7M.
  • Zeno Research's ten largest holdings make up 73% of its $91.3M portfolio in Q2 2022.
  • Zeno Research opened 11 new positions and closed 10 in Q2 2022.
  • Zeno Research's portfolio value fell 21% quarter-over-quarter to $91.3M.

Based on Zeno Research's 13F filing for Q2 2022, filed 15 Aug 2022.