Zeno Equity Partners LLP

CIK 2013334 · View on SEC EDGAR ↗

Portfolio value QoQ: +9.2% 13F does not disclose cash

Top 10 holdings weight88.05%

Top 25 holdings weight100.00%

Positions above 1%15

Effective number of positions10.8

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 8.88% Est. buys $31,366,156 · sells $22,879,949

Median holding: 3.0 quarters Tracked Q1 2025–Q2 2026 · 76.2% still held

New positions3

Increased4

Decreased7

Closed3

Portfolio value $269.0M #5,568 of 9,337 by 13F value · top 59.6%

Positions 16

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Healthcare 17.8%

Financials 16.7%

Industrials 13.7%

Materials 10.9%

Consumer products 10.9%

Retail 9.5%

Energy 8.8%

Technology 7.2%

Utilities 3.4%

Communication Services 1.0%

Other/Unmapped 0.1%

Full portfolio 16 positions

					Streak
DHR Danaher Corporation Common Stock	$47,916,006	17.81%	251,554	$851,598	Up ×2
LIN Linde plc - Ordinary Shares	$29,292,087	10.89%	56,446	$-1,005,790	Down ×2
AMZN Amazon.com, Inc. - Common Stock	$25,504,048	9.48%	107,007	$-3,951,578	Down ×1
VIST Vista Energy S.A.B. de C.V. American Depositary Shares, each representing one series A share, with no par value	$23,606,766	8.78%	370,012	$1,696,240	Up ×1
HEI-A (filed as HEIA) HEICO Corporation Class A	$22,718,002	8.45%	88,085	$3,668,185	Down ×2
WALD Waldencast plc - Class A Ordinary Share	$21,564,541	8.02%	12,252,580	$9,928,266
DSGX The Descartes Systems Group Inc. - Common Stock	$19,358,188	7.20%	279,581	$-1,139,673	Down ×1
PAX Patria Investments Limited - Class A Common Shares	$18,680,746	6.94%	1,701,343	$1,676,051	Up ×2
ITUB Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares)	$17,838,100	6.63%	2,183,366	$-907,675	Down ×1
VMC Vulcan Materials Company (Holding Company) Common Stock	$10,365,176	3.85%	35,135		Up ×1
PAM Pampa Energia S.A.	$9,265,578	3.44%	112,816	$-963,695	Down ×1
V Visa Inc.	$8,425,261	3.13%	24,557
SGI Somnigroup International Inc. Common Stock	$7,742,470	2.88%	98,756	$-9,510,014	Down ×2
RYAAY Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares	$3,700,139	1.38%	57,145	$589,863	Up ×1
SPOT Spotify Technology S.A. Ordinary Shares	$2,780,032	1.03%	6,055		Up ×1
WALDW Waldencast plc - Warrant	$229,471	0.09%	4,892,767	$53,331
No matches

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
VMC	$10,365,176	35,135	3.85%
V	$8,425,261	24,557	3.13%
SPOT	$2,780,032	6,055	1.03%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
WALD	Price move only	+0	+$9.9M
SGI	Trimmed	-135K	-$9.5M
AMZN	Trimmed	-34K	-$4.0M
HEI-A (filed as HEIA)	Trimmed	-2K	+$3.7M
VIST	Bought more	+80K	+$1.7M
PAX	Bought more	+352K	+$1.7M
DSGX	Trimmed	-7K	-$1.1M
LIN	Trimmed	-5K	-$1.0M
PAM	Trimmed	-3K	-$964K
ITUB	Trimmed	-54K	-$908K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
APPF	June 30, 2025	88,789	$19,524,701	-11.3%
MEDP	June 30, 2025	62,304	$18,983,406	97.7%
TXN	March 31, 2026	91,686	$15,906,604	51.9%
GE	Sept. 30, 2025	53,530	$13,778,087	1.8%
V	March 31, 2026	35,441	$12,429,513	22.3%
ITUB	Sept. 30, 2025	556,222	$3,802,435	39.2%
APH	March 31, 2026	27,087	$3,665,277	-30.9%

Person profile: Zeno Equity Partners LLP