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XN LP
Gaurav Kapadia · Hedge Fund · Long/Short Equity
XN LP is a New York-based investment firm founded in 2018 by Gaurav Kapadia, who previously co-founded Soroban Capital. The firm operates as a hedge fund manager, overseeing several billion dollars in assets across various pooled investment vehicles, including the Exponent and Vector funds. XN focuses on identifying high-quality public and private companies that exhibit significant long-term growth potential but are undervalued due to temporary market dislocations. The firm is known for its lean team and a research-intensive approach to capital allocation.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -1.1% |
| YTD return | -5.7% |
| Sharpe ratio | 0.70 |
| Win rate | 36% |
| AUM | $3.2B |
| Inception | Oct 1, 2025 |
| Updated | Sep 22, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $3.2B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | http://www.xnlp.com |
Current Holdings
Updated on Sep 22, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| TKO | TKO Group Holdings, Inc. | 14.1% | -3.7% |
| SPCX | SPAC and New Issue ETF | 13.0% | +11.0% |
| SHW | Sherwin-Williams Co | 8.4% | -4.0% |
| TSM | Taiwan Semiconductor Manufacturing | 6.5% | +53.6% |
| GE | GE Aerospace | 4.9% | +6.2% |
| HEI | Heico Corporation | 4.9% | -7.4% |
| TOST | Toast Inc | 4.8% | -3.6% |
| PCOR | Procore Technologies Inc | 4.4% | -25.2% |
| SOLS | Solstice Advanced Materials, Inc | 4.3% | -28.7% |
| AMZN | Amazon.com Inc | 4.3% | +14.2% |
| NVDA | NVIDIA Corporation | 3.8% | +20.7% |
| FERG | Ferguson Plc | 3.7% | -1.4% |
| GLW | Corning Incorporated | 3.5% | -16.8% |
| GOOGL | Alphabet Inc Class A | 3.1% | +40.1% |
| WDC | Western Digital Corporation | 3.1% | -4.1% |
| AUR | Aurora Innovation Inc | 2.7% | +11.1% |
| SPOT | Spotify Technology SA | 2.7% | -15.8% |
| CRH | CRH PLC ADR | 2.6% | -25.7% |
| CRS | Carpenter Technology Corporation | 2.6% | -8.4% |
| WAT | Waters Corporation | 2.5% | +2.6% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | BUY | SHW | 6.0% → 8.4% |
| Aug 31, 2026 | SELL | CRS | 2.8% → 2.6% |
| Aug 31, 2026 | BUY | AUR | 0.0% → 2.7% |
| Aug 31, 2026 | SELL | GOOGL | 3.8% → 3.1% |
| Aug 31, 2026 | SELL | AMZN | 5.1% → 4.3% |
Investment Style Analysis
XN LP is widely recognized for employing a Long/Short Equity strategy. As of Sep 22, 2026, the firm oversees approximately $3.2B in assets under management (AUM). The portfolio demonstrates a clear preference for the Entertainment and Other sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, XN LP made a significant move by increasing exposure to SHW. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
XN's investment philosophy is built on the belief that the best investment opportunities arise from temporary market dislocations where deep, fundamental research can reveal special businesses at compelling risk-adjusted valuations. The firm manages a concentrated, long-biased portfolio with a flexible mandate that allows for investments across the capital structure in both public and private markets. XN emphasizes a culture of rigor and patience, seeking to identify businesses whose quality, growth, and earnings power are materially underappreciated by the broader market to achieve superior asymmetric returns.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with XN LP.
Similar Investment Style
Based on Long/Short Equity.
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Frequently asked questions
How is the simulated portfolio for XN LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is XN LP's largest holding?
As of the latest filing, XN LP's top position is TKO Group Holdings, Inc. (TKO), representing 14.1% of the portfolio. This reflects a high-conviction bet by the institution.
What is XN LP's historical performance and risk profile?
Our simulation indicates a total return of -1.1% with a win rate of 36%. Notably, the portfolio maintains a Sharpe Ratio of 0.70, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does XN LP primarily invest in?
XN LP has a strong preference for the Entertainment sector, which makes up 14.1% of their disclosed assets. The portfolio also has exposure to Other, indicating a specific thematic focus.
Is XN LP's portfolio concentrated or diversified?
XN LP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 35.5% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has XN LP performed in 2026?
Our AI-simulated model portfolio for XN LP tracks a Year-to-Date (YTD) return of -5.7%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Gaurav Kapadia manage XN LP directly?
Yes, Gaurav Kapadia serves as the key portfolio manager for XN LP, overseeing the investment strategy and final capital allocation decisions.