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Q2 2026 holdings · 8 filings on record

XN LP

Gaurav Kapadia

XN is a New York investment firm led by Gaurav Kapadia, its founder and chief executive since 2018. The name began as that of his family office. Kapadia earlier co-founded the investment firm Soroban and, before that, was a partner at TPG-Axon. XN describes two lines of work: concentrated investing in public markets, and opportunistic investments in private companies. The firm is built around a small number of companies held for long periods, and only the listed ones can appear in its 13F filing.

AI-written, awaiting an editor · as of Oct 31, 2026 · not from the filings · 3 sources
  1. Conversations with Tyler: Gaurav Kapadia conversationswithtyler.com ↗
  2. SEC: Form ADV, XN reports.adviserinfo.sec.gov ↗
  3. SEC: Frequently asked questions about Form 13F sec.gov ↗
Held on Jun 30, now 124 days oldReported to the SEC Aug 14, 2026Next filing due Nov 16 · 15 days
US-listed stocks held$3.8B
Positions27
Behaves like16equal-sized positions
Top 10 holdings65.0%of the total

Holdings

On June 30, 2026, XN LP held 27 positions in US-listed stocks worth $3.8 billion. The ten largest were 65.0% of it.

  1. 1SPACE EXPLORATION TECHN CORPSPCXCLASS A COM STK$512.6M13.5%
  2. 2TKO Group Holdings, Inc.TKOCL A$501.7M13.2%
  3. 3The Sherwin-Williams CompanySHW$270M7.1%
  4. 4Taiwan Semiconductor Manufacturing Company LimitedTSMSPONSORED ADS$238.2M6.3%
  5. 5CORNING INCGLW$195.7M5.2%
  6. 6Solstice Advanced Materials Inc.SOLS$191.2M5.0%
  7. 7GE AEROSPACEGE$173.7M4.6%
  8. 8WESTERN DIGITAL CORPWDC$140M3.7%
  9. 9Amazon.com, Inc.AMZN$124.8M3.3%
  10. 10HEICO CORP NEWHEI.ACL A$122.7M3.2%

What this filing cannot show

A 13F is a partial picture. Here is the part that is missing.

It lists long positions in US-listed stocks and options only. Not short positions, cash, ordinary bonds, anything listed only abroad, anything private, or anything bought and sold inside the quarter.

What is a 13F?

A quarterly SEC filing where large investment managers list the long positions in US-listed stocks and options they held at the end of the quarter. It is a snapshot, filed up to 45 days after that date.

Why is this list weeks old?

Managers have 45 days after each quarter ends to file, and most of the funds we track file on the last permitted day. So the newest list still describes where the fund stood weeks ago, and the market has moved since.

What does “behaves like” mean?

How many equal-sized positions would be exactly this concentrated. Ten positions of the same size behave like 10. Ten positions where one holds most of the money behave like fewer than 2. It is 1 divided by the sum of each position’s squared share of the total.

Why are two lines sometimes the same company?

Each line is one security as the manager filed it. Two share classes of one company, or a company’s stock and its convertible notes, are separate lines in the filing, and they stay separate here.

Filing history

8 filings on record.

Quarter endedReported to the SECPositionsSource
Jun 30, 2026Aug 14, 202627Open the SEC filing ↗
Mar 31, 2026May 15, 202623Open the SEC filing ↗
Dec 31, 2025Feb 17, 202626Open the SEC filing ↗
Sep 30, 2025Nov 12, 202522Open the SEC filing ↗
Jun 30, 2025Aug 14, 202520Open the SEC filing ↗
Mar 31, 2025May 15, 202519Open the SEC filing ↗
Dec 31, 2024Feb 14, 202523Open the SEC filing ↗
Sep 30, 2024Nov 14, 202421Open the SEC filing ↗

Where a manager later amended a filing, the date shown is the amendment’s. Every filing from this fund at the SEC ↗

⚠️ Public information, sourced from SEC 13F filings. A 13F shows long US-listed positions only; it cannot show shorts, cash, ordinary bonds, foreign lines, or anything bought and sold within the quarter. Values are the manager’s own quarter-end figures, filed up to 45 days later. Not financial advice.