Equal-WT
WhaleScore 2.0
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XN is based out of New York. XN is a hedge fund with 13 clients and discretionary assets under management (AUM) of $3,286,720,636 (Form ADV from 2024-11-25). Their last reported 13F filing for Q4 2024 included $2,529,828,172 in managed 13F securities
and a top 10 holdings concentration of 74.71%. XN's largest holding is TKO Group Holdings Inc with shares held of 2,628,224. Whalewisdom has at least 17 13F filings
Business Description
The advisory business provides capital introduction, talent introduction, marketing assistance, consulting with respect to technology, operations and equipment, commitment of capital, access to company management and access to deal flow. They also offer financial responsibility.
The advisory business has not been involved in any legal or disciplinary events that would be material to an investor’s evaluation of their business or their employees.
Investment Strategy
XN employs a global investment strategy, focusing on public and private markets with the aim of achieving high risk-adjusted returns. They prioritize areas where they have deep domain expertise and generally avoid investments in balance sheet heavy financials, healthcare, energy, and materials. Their geographic focus is primarily on North America and Western Europe, but they may invest in other regions as they deem attractive.
XN's core investment strategy is a long/short approach, aiming to identify and purchase undervalued financial instruments while simultaneously shorting overvalued ones. This strategy relies heavily on their ability to accurately assess market opportunities, and there is no guarantee that they will be successful in recognizing or acquiring them. Market disruptions can lead to significant losses, potentially forcing XN to close out client positions. XN also utilizes a flexible investment approach, allowing them to trade in any type of security, issuer, country, region, or sector that they believe will help a fund achieve its investment objectives. They are not bound by formal diversification or leverage policies, allowing them to adapt their strategies to prevailing market conditions and reallocate client assets as needed.
Owners
- KAPADIA, GAURAV, KIRIT - FOUNDER & CHIEF EXECUTIVE OFFICER, LIMITED PARTNER
- BRONSTEIN, DAVID, BRIAN - PRESIDENT
- MASINO, KRISTEN, CARROLL - CHIEF FINANCIAL OFFICER
- O'GRADY, THOMAS, LOUGHLIN - GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER
- EULER NUMBER LLC - GENERAL PARTNER Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-12-31
Top Buys (13F)
Name | % Change |
---|---|
PCOR Procore Technologies (CALL) | 9.6% |
MSFT Microsoft Corporatio | 4.42% |
TKO TKO Group Holdings I | 4.13% |
JCI Johnson Controls Int | 2.94% |
PCOR Procore Technologies | 2.4% |

2024-12-31
Top Sells (13F)
Name | % Change |
---|---|
SPY SPDR S&P 500 ETF TRU (CALL) | 10.57% |
FND Floor & Decor Holdin | 3.24% |
AMAT Applied Materials In | 3.17% |
CMCSA Comcast Corp. Class | 2.36% |
TKO TKO Group Holdings I (CALL) | 2.28% |

2024-12-31
13F Holdings Summary
Name | $ Change |
---|---|
TKO TKO Group Holdings I | 14.76% |
PCOR Procore Technologies(CALL) | 9.63% |
PCOR Procore Technologies | 7.63% |
GE GE Aerospace | 7.36% |
TRU TransUnion | 6.99% |

2024-12-31
13F Activity
Market Value | $2.53b, Prior: $2.71b |
Inflows (Outflows) as % of Total MV | (-8.4059)% |
New Purchases | 6 stocks |
Added To | 6 stocks |
Sold out of | 7 stocks |
Reduced holdings in | 10 stocks |
Top 10 Holdings % | 74.71% |
Turnover %[1] | 41.94% |
Turnover Alt %[2] | 22.12% |
Time Held Top 20 | 4.45 quarters |
Time Held Top 10 | 2.3 quarters |
Time Held All | 5.08 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data

2024-12-31
Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31