Zeno Equity Partners LLP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Zeno Equity Partners LLP reported 10 stock positions worth $231.3 million. Its top holding was Danaher (DHR) at 22.1% of the portfolio, followed by Waldencast PLC-A (MLKMF, 16.2%) and Linde (LIN, 14.0%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 5 and reduced 3. The biggest buy was Danaher (DHR, shares +35%) and the biggest sale an exit from Appfolio Class A (APPF).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0002013334
- Portfolio Value
- $231.3M (Q2 2025)
- SEC Filing
- 0002013334-25-000016 ↗ filed Aug 11, 2025
Holdings Value
Holdings 10 stocks · $231.3M
| DHR Danaher Corp. | 22.14% | 258,939 | $51.2M | Add +34.5% |
| MLKMF Waldencast PLC-A | 16.25% | 15,335,543 | $37.6M | No change |
| LIN Linde PLC | 14.00% | 69,003 | $32.4M | Add +8.1% |
| AMZN Amazon.com Inc. | 11.24% | 118,477 | $26.0M | Reduce -33.9% |
| APH Amphenol Corp. Class A | 7.53% | 176,195 | $17.4M | Add +7.3% |
| TXN Texas Instruments Inc. | 7.46% | 83,116 | $17.3M | Reduce -45.2% |
| HEI.A Heico Corp. Class A | 7.06% | 63,069 | $16.3M | Add +8.9% |
| SGI Somnigroup International Inc. | 6.72% | 228,382 | $15.5M | Add +28.6% |
| GE General Electric filed as GE AEROSPACE | 5.96% | 53,530 | $13.8M | Reduce -60.3% |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.64% | 556,222 | $3.8M | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $606K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MLKWF Waldencast Acq Class A -CW27 | *W EXP 07/27/202 | 6,247,775 | $606K | No change |
Total filed on the 13F, all lines: $231.9M.
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 15 | $268.8M | DHR, LIN, AMZN, VIST, HEI.A |
| Q1 2026Amended | 12 | $246.3M | DHR, LIN, AMZN, VIST, DSGX |
| Q4 2025 | 10 | $241.0M | LIN, DHR, SGI, MLKMF, AMZN |
| Q3 2025 | 8 | $214.9M | DHR, LIN, AMZN, MLKMF, HEI.A |
| Q2 2025 | 10 | $231.3M | DHR, MLKMF, LIN, AMZN, APH |
| Q1 2025Amended | 11 | $275.7M | MLKMF, DHR, AMZN, LIN, TXN |
| Q4 2024 | 11 | $332.3M | MLKMF, DHR, GE, AMZN, APPF |
| Q3 2024 | 13 | $356.7M | MLKMF, DHR, APPF, GE, LIN |
| Q2 2024 | 12 | $371.1M | MLKMF, GE, DHR, APPF, LIN |
| Q1 2024 | 12 | $443.2M | MLKMF, GE, APPF, DHR, LIN |