In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), XN LP reported 20 stock positions worth $2.9 billion . Its top holding was Tko (TKO) at 16.5% of the portfolio, followed by Toast Class A (TOST, 8.1% ) and Transunion (TRU, 7.8% ). Compared with Q1 2025, it opened 3 new positions, sold out of 2, added to 10 and reduced 4. The biggest buy was a new position in DoorDash Class A (DASH) and the biggest sale an exit from GE Vernova (GEV).
Location New York, NY
CIK 0001756558
Portfolio Value $2.9B (Q2 2025) Holdings 20 stocks · $2.9B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 TKO Tko Group Holdings Inc. 2,600,613 $473.2M No change TOST Toast Inc. Class A 5,211,968 $230.8M Add +8.9% TRU Transunion 2,525,309 $222.2M Add +28.6% SHW The Sherwin-Williams Co. 637,930 $219.0M Add +26.5% TSM Taiwan Semiconductor-SP ADR 928,074 $210.2M Reduce -3.9% GE General Electric filed as GE AEROSPACE 635,915 $163.7M Reduce -15.3% PCOR Procore Technologies Inc. 2,311,550 $158.2M No change AMZN Amazon.com Inc. 668,721 $146.7M Add +64.8% MNDY Monday.com Ltd. 409,862 $128.9M Add +103.8% CRM Salesforce Inc. 472,664 $128.9M Add +13.0% META Meta Platforms Inc. Class A 152,296 $112.4M Add +7.4% AMAT Applied Materials Inc. 546,142 $100.0M Add +7.2% SPOT Spotify Technology SA 129,833 $99.6M Add +15.7% DASH DoorDash Inc. Class A 394,764 $97.3M New GOOG Alphabet Inc. Class C 484,333 $85.9M No change NVDA Nvidia Corp. 480,344 $75.9M Reduce -8.9% CBRE CBRE Group Inc. Class A 471,337 $66.0M New RDDT Reddit Inc. Class A 389,785 $58.7M New FERG Ferguson Enterprises Inc. 263,307 $57.3M Add +71.5% JCI Johnson Controls Internation 286,853 $30.3M Reduce -73.3%
Options reported separately and not counted above: GE calls ($257.4M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ GEV GE Vernova Inc. Sold out 0.00% −3.79 JCI Johnson Controls Internation Reduce -73.3% 1.06% −2.85 WDAY Workday Inc. Class A Sold out 0.00% −2.66 GE General Electric Reduce -15.3% 5.71% −1.12 TSM Taiwan Semiconductor-SP ADR Reduce -3.9% 7.34% +0.05 NVDA Nvidia Corp. Reduce -8.9% 2.65% +0.05
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ DASH DoorDash Inc. Class A New 3.40% +3.40 CBRE CBRE Group Inc. Class A New 2.30% +2.30 MNDY Monday.com Ltd. Add +103.8% 4.50% +2.27 RDDT Reddit Inc. Class A New 2.05% +2.05 AMZN Amazon.com Inc. Add +64.8% 5.12% +1.61 FERG Ferguson Enterprises Inc. Add +71.5% 2.00% +0.88 TOST Toast Inc. Class A Add +8.9% 8.06% +0.84 SPOT Spotify Technology SA Add +15.7% 3.48% +0.67 TRU Transunion Add +28.6% 7.76% +0.35 META Meta Platforms Inc. Class A Add +7.4% 3.92% +0.21 AMAT Applied Materials Inc. Add +7.2% 3.49% +0.13 SHW The Sherwin-Williams Co. Add +26.5% 7.64% −0.36 CRM Salesforce Inc. Add +13.0% 4.50% −0.60
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ GE General Electric call New 1,000,000 $257.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 27 $3.8B SPCX, TKO, SHW, TSM, GLW Q1 2026 23 $2.7B TKO, SOLS, TSM, SHW, TOST Q4 2025 26 $3.6B TKO, TOST, TSM, SHW, SPOT Q3 2025 22 $3.4B TKO, TSM, SHW, TOST, TRU Q2 2025 20 $2.9B TKO, TOST, TRU, SHW, TSM Q1 2025 19 $2.2B TKO, SHW, TRU, TSM, TOST Q4 2024 23 $2.3B TKO, PCOR, GE, TRU, TOST Q3 2024 21 $2.3B TKO, GE, TRU, VMC, AMAT Q2 2024 22 $2.1B TKO, PCOR, TRU, GE, GOOG Q1 2024 20 $2.0B GOOG, TKO, GE, WAB, ADBE