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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
SBAC icon
1
SBA Communications
SBAC
$19.5B
$14.2M 13.44%
49,938
+22,815
+84% +$7.4M
RCI icon
2
Rogers Communications
RCI
$18.6B
$12.1M 11.44%
313,893
+113,030
+56% +$5M
TMUS icon
3
T-Mobile US
TMUS
$190B
$10.2M 9.67%
76,191
+57,530
+308% +$8.08M
EQIX icon
4
Equinix
EQIX
$103B
$9.1M 8.61%
+15,999
New +$10.5M
WBD icon
5
Warner Bros
WBD
$67.1B
$5.65M 5.34%
+491,083
New +$6.67M
OMC icon
6
Omnicom Group
OMC
$23.4B
$5.18M 4.9%
82,064
+26,084
+47% +$1.77M
META icon
7
Meta Platforms (Facebook)
META
$1.51T
$5.17M 4.89%
38,141
+26,083
+216% +$4.23M
CCI icon
8
Crown Castle
CCI
$32.2B
$4.93M 4.66%
+34,098
New +$5.84M
VZ icon
9
Verizon
VZ
$196B
$4.65M 4.4%
+122,565
New +$5.46M
LYV icon
10
Live Nation Entertainment
LYV
$42.1B
$3.91M 3.7%
51,389
+34,784
+209% +$3.12M
TU icon
11
Telus
TU
$15.3B
$3.72M 3.52%
187,346
-195,148
-51% -$4.36M
CHTR icon
12
Charter Communications
CHTR
$18.2B
$3.57M 3.38%
11,765
-4,012
-25% -$1.72M
WMG icon
13
Warner Music
WMG
$13.8B
$3.13M 2.96%
+134,628
New +$3.71M
CMCSA icon
14
Comcast
CMCSA
$90B
$2.96M 2.8%
+101,016
New +$3.78M
CD
15
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
$2.79M 2.64%
345,388
+23,347
+7% +$180K
NFLX icon
16
Netflix
NFLX
$309B
$2.72M 2.57%
+115,340
New +$2.56M
FYBR
17
DELISTED
Frontier Communications
FYBR
$2.71M 2.56%
+115,499
New +$2.94M
PINS icon
18
Pinterest
PINS
$13.4B
$2.44M 2.31%
+104,706
New +$2.3M
PRKS icon
19
United Parks & Resorts
PRKS
$2.12B
$2.42M 2.29%
53,268
+31,018
+139% +$1.54M
SBGI icon
20
Sinclair Inc
SBGI
$1.03B
$1.83M 1.74%
+101,413
New +$2.25M
ROKU icon
21
Roku
ROKU
$22.7B
$1.29M 1.22%
+22,859
New +$1.74M
LAMR icon
22
Lamar Advertising Co
LAMR
$16.3B
$1.04M 0.98%
+12,576
New +$1.2M
AMT icon
23
American Tower
AMT
$80.4B
– –
-21,499
Closed -$5.5M
AMZN icon
24
Amazon
AMZN
$2.96T
– –
-37,614
Closed -$4M
CCOI icon
25
Cogent Communications
CCOI
$508M
– –
-33,579
Closed -$2.04M
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.