Vault-13

Zeno Equity Partners LLP

LONDON, X0 · CIK 2013334 · 13F filing filed 2026-08-14

Exempt reporting adviser since 2012 · limited liability partnership

$269.0m reported value +9.2% vs Q1 2026
16positions
88.1%in top 10
3 new 4 added 7 reduced 0 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#SecurityTickerShares Value% of portfolioChangeShares change
1 DANAHER CORPORATION COM DHR DHR 251,554 $47.9m17.81% 17.81% AddedShares held: Q3 2025 265.8k, Q4 2025 223.4k, Q1 2026 248.2k, Q2 2026 251.6k +3.3k +3,324 1.3%
2 LINDE PLC SHS LIN LIN 56,446 $29.3m10.89% 10.89% ReducedShares held: Q3 2025 82.8k, Q4 2025 170.0k, Q1 2026 61.1k, Q2 2026 56.4k -4.7k -4,668 -7.6%
3 AMAZON COM INC COM AMZN AMZN 107,007 $25.5m9.48% 9.48% ReducedShares held: Q3 2025 128.9k, Q4 2025 95.7k, Q1 2026 141.4k, Q2 2026 107.0k -34.4k -34,423 -24.3%
4 VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST VIST 370,012 $23.6m8.78% 8.78% AddedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 290.3k, Q2 2026 370.0k +79.7k +79,691 27.4%
5 HEICO CORP NEW CL A HEI.A HEI.A 88,085 $22.7m8.45% 8.45% ReducedShares held: Q3 2025 87.9k, Q4 2025 248.2k, Q1 2026 90.2k, Q2 2026 88.1k -2.2k -2,160 -2.4%
6 WALDENCAST PLC CLASS A ORD SHS MLKMF MLKMF 12,252,580 $21.6m8.02% 8.02% UnchangedShares held: Q3 2025 12.3m, Q4 2025 12.3m, Q1 2026 12.3m, Q2 2026 12.3m
7 DESCARTES SYS GROUP INC COM DSGX DSGX 279,581 $19.4m7.20% 7.20% ReducedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 286.4k, Q2 2026 279.6k -6.9k -6,862 -2.4%
8 PATRIA INVESTMENTS LIMITED COM CL A PAX PAX 1,701,343 $18.7m6.94% 6.94% AddedShares held: Q3 2025 0, Q4 2025 590.7k, Q1 2026 1.3m, Q2 2026 1.7m +351.8k +351,764 26.1%
9 ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB ITUB 2,183,366 $17.8m6.63% 6.63% ReducedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 2.2m, Q2 2026 2.2m -53.6k -53,600 -2.4%
10 VULCAN MATLS CO COM VMC VMC 35,135 $10.4m3.85% 3.85% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 35.1k
11 PAMPA ENERGIA S A SPONS ADR LVL I PAM PAM 112,816 $9.3m3.44% 3.44% ReducedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 115.6k, Q2 2026 112.8k -2.8k -2,769 -2.4%
12 VISA INC COM CL A V V 24,557 $8.4m3.13% 3.13% NewShares held: Q3 2025 0, Q4 2025 35.4k, Q1 2026 0, Q2 2026 24.6k
13 SOMNIGROUP INTERNATIONAL INC COM SGI SGI 98,756 $7.7m2.88% 2.88% ReducedShares held: Q3 2025 233.0k, Q4 2025 267.6k, Q1 2026 233.4k, Q2 2026 98.8k -134.6k -134,638 -57.7%
14 RYANAIR HOLDINGS PLC SPONSORED ADR RYAAY RYAAY 57,145 $3.7m1.38% 1.38% AddedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 53.8k, Q2 2026 57.1k +3.3k +3,334 6.2%
15 SPOTIFY TECHNOLOGY S A SHS SPOT SPOT 6,055 $2.8m1.03% 1.03% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 6.1k
16 WALDENCAST PLC *W EXP 07/27/202 MLKWF MLKWF 4,892,767 $229.5k0.09% 0.09% UnchangedShares held: Q3 2025 4.9m, Q4 2025 4.9m, Q1 2026 4.9m, Q2 2026 4.9m

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

CompanyTickerStakeChange ScheduleLast filed
WALDENCAST PLC MLKMF · 13D · filed 2025-07-31 MLKMF 14.5%≈ $30.2m 13D 2025-07-31