Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – 110.03% | ||||||||||
United States – 69.41% | ||||||||||
Aerospace / Defense – 1.04% | ||||||||||
29,626 | TransDigm Group, Inc. | (a) | $ | 21,835,843 | ||||||
Applications Software – 4.02% | ||||||||||
155,483 | Confluent, Inc., Class A* | 3,742,476 | ||||||||
135,790 | Elastic NV* | 7,862,241 | ||||||||
170,700 | Microsoft Corp. | (a) | 49,212,810 | |||||||
55,457 | PTC, Inc.* | (a) | 7,111,251 | |||||||
341,661 | Smartsheet, Inc., Class A* | 16,331,396 | ||||||||
84,260,174 | ||||||||||
Athletic Equipment – 0.27% | ||||||||||
494,699 | Peloton Interactive, Inc., Class A* | 5,609,887 | ||||||||
Building Products - Cement / Aggregate – 1.25% | ||||||||||
42,789 | Martin Marietta Materials, Inc. | (a) | 15,192,662 | |||||||
64,502 | Vulcan Materials Co. | (a) | 11,065,963 | |||||||
26,258,625 | ||||||||||
Coatings / Paint – 0.93% | ||||||||||
86,499 | The Sherwin-Williams Co. | (a) | 19,442,380 | |||||||
Commercial Services – 0.21% | ||||||||||
9,495 | Cintas Corp. | (a) | 4,393,147 | |||||||
Commercial Services - Finance – 1.25% | ||||||||||
91,573 | Global Payments, Inc. | (a) | 9,637,143 | |||||||
38,846 | S&P Global, Inc. | 13,392,935 | ||||||||
52,146 | TransUnion | 3,240,352 | ||||||||
26,270,430 | ||||||||||
Communications Software – 1.65% | ||||||||||
371,701 | RingCentral, Inc., Class A* | (a) | 11,400,070 | |||||||
315,619 | Zoom Video Communications, Inc., Class A* | 23,305,307 | ||||||||
34,705,377 | ||||||||||
Computer Aided Design – 6.78% | ||||||||||
19,027 | Altair Engineering, Inc., Class A* | 1,372,037 | ||||||||
314,672 | Cadence Design Systems, Inc.* | (a) | 66,109,440 | |||||||
193,306 | Synopsys, Inc.* | (a) | 74,664,443 | |||||||
142,145,920 | ||||||||||
Computer Software – 1.79% | ||||||||||
191,676 | Dynatrace, Inc.* | (a) | 8,107,895 | |||||||
379,457 | Twilio, Inc., Class A* | (a) | 25,283,220 | |||||||
172,231 | ZoomInfo Technologies, Inc.* | 4,255,828 | ||||||||
37,646,943 |
- 1 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments (continued)
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – (continued) | ||||||||||
United States – (continued) | ||||||||||
E-Commerce / Products – 3.13% | ||||||||||
635,299 | Amazon.com, Inc.* | (a) | $ | 65,620,034 | ||||||
E-Commerce / Services – 4.52% | ||||||||||
425,924 | Expedia Group, Inc.* | (a) | 41,327,406 | |||||||
395,607 | Lyft, Inc., Class A* | 3,667,277 | ||||||||
425,625 | Marqeta, Inc., Class A* | 1,945,106 | ||||||||
1,513,207 | Uber Technologies, Inc.* | (a) | 47,968,662 | |||||||
94,908,451 | ||||||||||
Energy - Alternate Sources – 0.07% | ||||||||||
271,959 | Stem, Inc.* | 1,542,008 | ||||||||
Enterprise Software / Services – 3.10% | ||||||||||
213,933 | Bill.com Holdings, Inc.* | (a) | 17,358,524 | |||||||
366,981 | SS&C Technologies Holdings, Inc. | (a) | 20,723,417 | |||||||
1,535,640 | UiPath, Inc., Class A* | 26,965,838 | ||||||||
65,047,779 | ||||||||||
Finance - Credit Card – 4.66% | ||||||||||
123,834 | Mastercard, Inc., Class A | (a) | 45,002,514 | |||||||
234,155 | Visa, Inc., Class A | (a) | 52,792,586 | |||||||
97,795,100 | ||||||||||
Finance - Other Services – 1.31% | ||||||||||
262,997 | Intercontinental Exchange, Inc. | (a) | 27,427,957 | |||||||
Human Resources – 0.43% | ||||||||||
45,324 | Paylocity Holding Corp.* | (a) | 9,009,505 | |||||||
Internet Content - Entertainment – 9.32% | ||||||||||
922,152 | Meta Platforms, Inc., Class A* | (a) | 195,440,895 | |||||||
Medical - Biomedical / Genetics – 3.56% | ||||||||||
435,044 | Akero Therapeutics, Inc.* | (a) | 16,644,783 | |||||||
640,678 | Allovir, Inc.* | (a) | 2,524,271 | |||||||
176,502 | BioCryst Pharmaceuticals, Inc.* | 1,472,027 | ||||||||
49,576 | Blueprint Medicines Corp.* | 2,230,424 | ||||||||
143,851 | Caribou Biosciences, Inc.* | 763,849 | ||||||||
103,698 | Cerevel Therapeutics Holdings, Inc.* | 2,529,194 | ||||||||
178,871 | Certara, Inc.* | 4,312,580 |
- 2 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments (continued)
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – (continued) | ||||||||||
United States – (continued) | ||||||||||
Medical - Biomedical / Genetics – (continued) | ||||||||||
145,648 | DICE Therapeutics, Inc.* | $ | 4,172,815 | |||||||
95,175 | IGM Biosciences, Inc.* | 1,307,705 | ||||||||
210,759 | Keros Therapeutics, Inc.* | 8,999,409 | ||||||||
100,345 | Sarepta Therapeutics, Inc.* | (a) | 13,830,551 | |||||||
374,600 | TG Therapeutics, Inc.* | 5,633,984 | ||||||||
255,225 | Ultragenyx Pharmaceutical, Inc.* | 10,234,523 | ||||||||
74,656,115 | ||||||||||
Medical - Drugs – 0.37% | ||||||||||
336,001 | ORIC Pharmaceuticals, Inc.* | 1,915,206 | ||||||||
185,983 | PMV Pharmaceuticals, Inc.* | 887,139 | ||||||||
283,786 | Rhythm Pharmaceuticals, Inc.* | 5,062,742 | ||||||||
7,865,087 | ||||||||||
Metal Processors & Fabrication – 0.10% | ||||||||||
140,896 | Xometry, Inc., Class A* | 2,109,213 | ||||||||
Private Equity – 0.84% | ||||||||||
349,239 | The Carlyle Group, Inc. | (a) | 10,847,363 | |||||||
130,600 | KKR & Co., Inc. | 6,859,112 | ||||||||
17,706,475 | ||||||||||
REITs - Diversified – 2.31% | ||||||||||
98,172 | American Tower Corp. | 20,060,467 | ||||||||
39,134 | Equinix, Inc. | 28,217,179 | ||||||||
48,277,646 | ||||||||||
Retail - Apparel / Shoes – 1.31% | ||||||||||
259,168 | Ross Stores, Inc. | (a) | 27,505,500 | |||||||
Retail - Building Products – 0.86% | ||||||||||
90,192 | Lowe’s Cos., Inc. | (a) | 18,035,694 | |||||||
Retail - Major Department Stores – 2.67% | ||||||||||
713,441 | The TJX Cos., Inc. | (a) | 55,905,237 | |||||||
Retail - Restaurants – 1.54% | ||||||||||
11,953 | Chipotle Mexican Grill, Inc.* | (a) | 20,419,190 | |||||||
90,788 | Yum! Brands, Inc. | 11,991,279 | ||||||||
32,410,469 | ||||||||||
Semiconductor Components - Integrated Circuits – 6.32% | ||||||||||
379,190 | Analog Devices, Inc. | (a) | 74,783,852 | |||||||
452,644 | QUALCOMM, Inc. | (a) | 57,748,322 | |||||||
132,532,174 |
- 3 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments (continued)
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – (continued) | ||||||||||
United States – (continued) | ||||||||||
Semiconductor Equipment – 3.80% | ||||||||||
77,765 | KLA Corp. | (a) | $ | 31,041,455 | ||||||
56,486 | Lam Research Corp. | (a) | 29,944,358 | |||||||
173,748 | Teradyne, Inc. | (a) | 18,679,647 | |||||||
79,665,460 | ||||||||||
Total United States (Cost $1,001,820,352) | $ | 1,456,029,525 | ||||||||
Brazil – 0.27% | ||||||||||
Finance - Investment Banker / Broker – 0.27% | ||||||||||
471,518 | XP, Inc., Class A* | 5,596,919 | ||||||||
Total Brazil (Cost $12,141,882) | $ | 5,596,919 | ||||||||
Canada – 0.64% | ||||||||||
Internet Application Software – 0.64% | ||||||||||
280,192 | Shopify, Inc., Class A* | (a) | 13,432,404 | |||||||
Total Canada (Cost $10,151,869) | $ | 13,432,404 | ||||||||
China – 12.34% | ||||||||||
Transport Services – 1.00% | ||||||||||
2,746,643 | Full Truck Alliance Co., Ltd. - Sponsored ADR* | 20,901,953 | ||||||||
E-Commerce / Products – 5.73% | ||||||||||
625,045 | Alibaba Group Holding, Ltd. - Sponsored ADR* | 63,867,098 | ||||||||
520,528 | JD.com, Inc., Class A - Sponsored ADR* | 22,845,974 | ||||||||
439,801 | Pinduoduo, Inc. - Sponsored ADR* | 33,380,896 | ||||||||
120,093,968 | ||||||||||
Enterprise Software / Services – 0.13% | ||||||||||
4,241,447 | Ming Yuan Cloud Group Holdings, Ltd. | 2,717,785 | ||||||||
Entertainment Software – 1.20% | ||||||||||
285,132 | NetEase, Inc. - Sponsored ADR | 25,217,074 | ||||||||
Real Estate Management / Services – 1.31% | ||||||||||
1,457,315 | KE Holdings, Inc. - Sponsored ADR* | 27,455,815 | ||||||||
Schools – 0.32% | ||||||||||
175,408 | New Oriental Education & Technology Group, Inc. - Sponsored ADR* | 6,772,503 | ||||||||
Web Portals / ISP – 2.65% | ||||||||||
368,734 | Baidu, Inc. - Sponsored ADR* | 55,649,335 | ||||||||
Total China (Cost $261,493,974) | $ | 258,808,433 |
- 4 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments (continued)
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – (continued) | ||||||||||
France – 8.61% | ||||||||||
Aerospace / Defense - Equipment – 6.95% | ||||||||||
520,649 | Airbus SE | $ | 69,734,454 | |||||||
513,005 | Safran SA | 76,101,154 | ||||||||
145,835,608 | ||||||||||
Apparel Manufacturers – 0.36% | ||||||||||
11,743 | Kering SA | 7,654,909 | ||||||||
Textile - Apparel – 1.30% | ||||||||||
29,725 | LVMH Moet Hennessy Louis Vuitton SE | 27,269,667 | ||||||||
Total France (Cost $144,570,236) | $ | 180,760,184 | ||||||||
Germany – 2.04% | ||||||||||
Aerospace / Defense – 1.22% | ||||||||||
101,745 | MTU Aero Engines AG | 25,490,721 | ||||||||
Athletic Footwear – 0.82% | ||||||||||
97,376 | adidas AG | 17,221,173 | ||||||||
Total Germany (Cost $40,565,950) | $ | 42,711,894 | ||||||||
Hong Kong – 1.36% | ||||||||||
Casino Hotels – 1.36% | ||||||||||
4,271,000 | Galaxy Entertainment Group, Ltd. | 28,536,991 | ||||||||
Total Hong Kong (Cost $26,061,363) | $ | 28,536,991 | ||||||||
Israel – 0.09% | ||||||||||
Applications Software – 0.09% | ||||||||||
96,123 | JFrog, Ltd.* | 1,893,623 | ||||||||
Total Israel (Cost $5,284,324) | $ | 1,893,623 | ||||||||
Japan – 3.76% | ||||||||||
Audio / Video Products – 3.42% | ||||||||||
795,700 | Sony Group Corp. | 71,654,253 | ||||||||
Web Portals / ISP – 0.34% | ||||||||||
2,508,903 | Z Holdings Corp. | 7,027,718 | ||||||||
Total Japan (Cost $66,210,132) | $ | 78,681,971 | ||||||||
Netherlands – 2.92% | ||||||||||
Semiconductor Equipment – 2.92% | ||||||||||
90,029 | ASML Holding NV | 61,283,641 | ||||||||
Total Netherlands (Cost $49,765,927) | $ | 61,283,641 | ||||||||
Singapore – 0.63% | ||||||||||
E-Commerce / Products – 0.63% | ||||||||||
152,183 | Sea, Ltd. - Sponsored ADR* | 13,171,439 | ||||||||
Total Singapore (Cost $7,494,570) | $ | 13,171,439 |
- 5 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Portfolio Investments (concluded)
Shares | March 31, 2023 Fair Value | |||||||||
Common Stock – (continued) | ||||||||||
Taiwan – 4.11% | ||||||||||
Semiconductor Components - Integrated Circuits – 4.11% | ||||||||||
927,187 | Taiwan Semiconductor Manufacturing Co., Ltd. - Sponsored ADR | $ | 86,246,935 | |||||||
Total Taiwan (Cost $71,673,218) | $ | 86,246,935 | ||||||||
Uruguay – 3.85% | ||||||||||
Commercial Services - Finance – 0.11% | ||||||||||
148,035 | Dlocal, Ltd.* | 2,401,128 | ||||||||
E-Commerce / Services – 3.74% | ||||||||||
59,593 | MercadoLibre, Inc.* | (a) | 78,547,149 | |||||||
Total Uruguay (Cost $42,889,176) | $ | 80,948,277 | ||||||||
Total Common Stock (Cost $1,740,122,973) | $ | 2,308,102,236 | ||||||||
Total Investments in Securities (Cost $1,740,122,973) – 110.03% | $ | 2,308,102,236 | ||||||||
Total Purchased Options ( Cost $330,431,262) - 14.82% | 310,902,797 | |||||||||
Total Securities Sold, Not Yet Purchased (Proceeds $958,768,968) - (43.69)% | (916,451,345 | ) | ||||||||
Total Written Options (Proceeds $1,255,932) - (0.01)% | (233,260 | ) | ||||||||
Other Assets, in Excess of Liabilities – 18.85%** | 395,334,404 | |||||||||
Members’ Capital – 100.00% | $ | 2,097,654,832 | ||||||||
| ||||||||||
(a) | Partially or wholly held in a pledge account by the Custodian, the assets of which are pledged as collateral for securities sold, not yet purchased. | |||||||||
* | Non-income producing security | |||||||||
** | Includes $193,922,776 invested in U.S. Dollar Cash Reserve Account at the Bank of New York Mellon (the “Custodian”), which is 9.24% of Members’ Capital, and foreign currency with a U.S. Dollar value of $1,323,034 held in a Foreign Cash Account with the Custodian which is 0.06% of Members’ Capital, $192,340,279 of those amounts is held as restricted cash and is in a segregated account with the Custodian, primarily as collateral for swap contracts, in each case as at March 31, 2023. | |||||||||
ADR | American Depository Receipt | |||||||||
REIT | Real Estate Investment Trust |
- 6 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Purchased Options (Unaudited)
Notional Amount (USD) | Contracts | Expiration Date Strike Price | March 31, 2023 Fair Value | |||||||||
Purchased Options – 14.82% | ||||||||||||
Equity Options – 14.80% | ||||||||||||
Equity Call Options – 11.67% | ||||||||||||
United States – 10.30% | ||||||||||||
Applications Software - 0.88% | ||||||||||||
$ | 52,911,500 | 2,461 | 6/16/2023 $215 | Microsoft Corp. | $ | 18,395,975 | ||||||
Auto - Cars / Light Trucks - 2.35% | ||||||||||||
27,904,000 | 3,488 | 4/21/2023 $80 | Tesla, Inc. | 44,280,160 | ||||||||
9,744,000 | 696 | 7/21/2023 $140 | Tesla, Inc. | 5,077,320 | ||||||||
49,357,480 | ||||||||||||
Casino Hotels - 0.65% | ||||||||||||
23,634,000 | 5,252 | 6/16/2023 $45 | Las Vegas Sands Corp. | 6,985,160 | ||||||||
24,894,000 | 2,766 | 6/16/2023 $90 | Wynn Resorts, Ltd. | 6,707,550 | ||||||||
13,692,710 | ||||||||||||
Commercial Services - Finance - 0.13% | ||||||||||||
12,684,000 | 2,114 | 6/16/2023 $60 | H&R Block, Inc. | 2,737,630 | ||||||||
�� | Communications Software - 0.02% | |||||||||||
5,740,000 | 1,640 | 7/21/2023 $35 | RingCentral, Inc., Class A | 410,000 | ||||||||
E-Commerce / Products - 0.73% | ||||||||||||
113,249,500 | 11,921 | 6/16/2023 $95 | Amazon.com, Inc. | 15,199,275 | ||||||||
E-Commerce / Services - 1.87% | ||||||||||||
87,200,000 | 436 | 6/16/2023 $2,000 | Booking Holdings, Inc. | 29,822,400 | ||||||||
21,942,000 | 4,876 | 5/19/2023 $45 | DoorDash, Inc., Class A | 9,435,060 | ||||||||
39,257,460 | ||||||||||||
Electronic Component - Semiconductor - 0.41% | ||||||||||||
19,705,000 | 2,815 | 7/21/2023 $70 | Advanced Micro Devices, Inc. | 8,557,600 | ||||||||
Enterprise Software / Services - 0.37% | ||||||||||||
16,084,000 | 4,021 | 5/19/2023 $40 | Alteryx, Inc., Class A | 7,760,530 | ||||||||
Finance - Credit Card - 0.96% | ||||||||||||
60,975,000 | 4,878 | 6/16/2023 $125 | American Express Co. | 20,170,530 | ||||||||
Hotels & Motels - 0.66% | ||||||||||||
57,075,000 | 4,566 | 6/16/2023 $125 | Hilton Worldwide Holdings, Inc. | 8,081,820 | ||||||||
23,530,500 | 1,743 | 5/19/2023 $135 | Marriott International, Inc., Class A | 5,629,890 | ||||||||
13,711,710 | ||||||||||||
Internet Content - Entertainment - 0.98% | ||||||||||||
100,458,000 | 5,581 | 5/19/2023 $180 | Meta Platforms, Inc., Class A | 20,621,795 |
- 7 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Purchased Options (Unaudited)(continued)
Notional Amount (USD) | Contracts | Expiration Date Strike Price | March 31, 2023 Fair Value | |||||||||
Purchased Options – (continued) | ||||||||||||
Equity Options – (continued) | ||||||||||||
Equity Call Options – (continued) | ||||||||||||
United States – (continued) | ||||||||||||
Medical - Drugs - 0.00% | ||||||||||||
$ | 23,851,000 | 1,403 | 6/16/2023 $170 | Johnson & Johnson | $ | 67,344 | ||||||
Multimedia - 0.29% | ||||||||||||
22,424,000 | 2,803 | 6/16/2023 $80 | The Walt Disney Co. | 6,026,450 | ||||||||
Total United States (Cost $171,881,316) | $ | 215,966,489 | ||||||||||
Australia - 0.19% | ||||||||||||
Enterprise Software / Services - 0.19% | ||||||||||||
8,580,000 | 715 | 6/16/2023 $120 | Atlassian Corp. PLC, Class A | 3,918,200 | ||||||||
Total Australia (Cost $3,532,113) | $ | 3,918,200 | ||||||||||
Canada - 0.36% | ||||||||||||
Internet Application Software - 0.36% | ||||||||||||
12,198,000 | 4,066 | 6/16/2023 $30 | Shopify, Inc., Class A | 7,542,430 | ||||||||
Total Canada (Cost $5,106,970) | $ | 7,542,430 | ||||||||||
China - 0.17% | ||||||||||||
E-Commerce / Products - 0.17% | ||||||||||||
9,044,750 | 2,783 | 9/15/2023 $32.50 | JD.com, Inc., Class A - Sponsored ADR | 3,645,730 | ||||||||
Total China (Cost $2,902,750) | $ | 3,645,730 | ||||||||||
Taiwan - 0.65% | ||||||||||||
Semiconductor Components - Integrated | ||||||||||||
Circuits - 0.65% | ||||||||||||
40,530,000 | 5,790 | 5/19/2023 $70 | Taiwan Semiconductor Manufacturing Co., Ltd. - Sponsored ADR | 13,635,450 | ||||||||
Total Taiwan (Cost $10,989,588) | $ | 13,635,450 | ||||||||||
Total Equity Call Options (Cost $194,412,737) | $ | 244,708,299 | ||||||||||
Equity Put Options - 3.13% | ||||||||||||
United States - 3.13% | ||||||||||||
Communications Software - 0.36% | ||||||||||||
47,863,500 | 5,631 | 6/16/2023 $85 | Zoom Video Communications, Inc., Class A | 7,573,695 | ||||||||
Enterprise Software / Services - 0.65% | ||||||||||||
37,550,000 | 3,004 | 8/18/2023 $125 | Bill.com Holdings, Inc. | 13,578,080 | ||||||||
Growth & Income - Large Cap - 0.66% | ||||||||||||
354,004,500 | 10,261 | 6/16/2023 $345 | SPDR S&P 500 ETF Trust | 1,713,587 | ||||||||
325,120,000 | 8,128 | 9/15/2023 $400 | SPDR S&P 500 ETF Trust | 12,183,872 | ||||||||
13,897,459 | ||||||||||||
Sector Fund - Technology - 1.46% | ||||||||||||
983,712,000 | 40,988 | 6/16/2023 $240 | Invesco QQQ Trust Series 1 | 3,033,112 | ||||||||
523,687,500 | 18,375 | 9/15/2023 $285 | Invesco QQQ Trust Series 1 | 14,626,500 | ||||||||
274,809,600 | 8,808 | 9/15/2023 $312 | Invesco QQQ Trust Series 1 | 12,921,336 | ||||||||
30,580,948 |
- 8 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Purchased Options (Unaudited)(concluded)
Notional Amount (USD) | Contracts | Expiration Date Strike Price | March 31, 2023 Fair Value | |||||||||
Purchased Options – (continued) | ||||||||||||
Equity Options – (continued) | ||||||||||||
Equity Put Options - (continued) | ||||||||||||
Total United States (Cost $129,690,893) | $ | 65,630,182 | ||||||||||
Total Equity Put Options (Cost $129,690,893) | $ | 65,630,182 | ||||||||||
Total Equity Options (Cost $324,103,630) | $ | 310,338,481 | ||||||||||
Currency Put Options - 0.02% | ||||||||||||
United States - 0.02% | ||||||||||||
$ | 5,494,179 | 95,550,944 | 6/16/2023 $5.75 | USD-BRL | 501,414 | |||||||
12,780,589 | 171,551,524 | 6/16/2023 $7.45 | USD-CNH | 62,902 | ||||||||
Total United States (Cost $6,327,632) | $ | 564,316 | ||||||||||
Total Currency Put Options (Cost $6,327,632) | $ | 564,316 | ||||||||||
Total Purchased Options (Cost $330,431,262) | $ | 310,902,797 |
ADR | American Depository Receipt | ||
BRL | Brazilian Real | ||
CNH | Chinese Renminbi Yuan | ||
ETF | Exchange-Traded Fund | ||
SPDR | Standard & Poor’s Depository Receipt | ||
USD | United States Dollar |
- 9 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased
Shares | March 31, 2023 Fair Value | |||||||
Securities Sold, Not Yet Purchased – 43.69% | ||||||||
Common Stock – 43.69% | ||||||||
United States – 36.92% | ||||||||
Advertising Agencies – 0.42% | ||||||||
94,439 | Omnicom Group, Inc. | $ | 8,909,375 | |||||
Advertising Services – 0.44% | ||||||||
180,557 | The Interpublic Group of Cos., Inc. | 6,723,943 | ||||||
41,928 | The Trade Desk, Inc., Class A* | 2,553,834 | ||||||
9,277,777 | ||||||||
Apparel Manufacturers – 0.14% | ||||||||
567,337 | Hanesbrands, Inc. | 2,984,193 | ||||||
Appliances – 0.24% | ||||||||
37,766 | Whirlpool Corp. | 4,985,867 | ||||||
Applications Software – 0.89% | ||||||||
344,905 | C3.ai, Inc., Class A* | 11,578,461 | ||||||
15,318 | ServiceNow, Inc.* | 7,118,581 | ||||||
18,697,042 | ||||||||
Auto - Cars / Light Trucks – 3.64% | ||||||||
368,332 | Tesla, Inc.* | 76,414,157 | ||||||
Cable / Satellite TV – 0.61% | ||||||||
35,741 | Charter Communications, Inc., Class A* | 12,781,339 | ||||||
Cellular Telecommunications – 1.08% | ||||||||
156,508 | T-Mobile US, Inc.* | 22,668,619 | ||||||
Commercial Banks - Central US – 0.21% | ||||||||
41,681 | Cullen/Frost Bankers, Inc. | 4,390,677 | ||||||
Commercial Banks - Western US – 0.03% | ||||||||
40,542 | CVB Financial Corp. | 676,241 | ||||||
Commercial Services - Finance – 0.24% | ||||||||
141,364 | H&R Block, Inc. | 4,983,081 | ||||||
Computer Data Security – 0.98% | ||||||||
62,633 | Qualys, Inc.* | 8,143,543 | ||||||
48,858 | Rapid7, Inc.* | 2,243,071 | ||||||
86,261 | Zscaler, Inc.* | 10,077,872 | ||||||
20,464,486 | ||||||||
Computer Software – 2.04% | ||||||||
93,906 | Akamai Technologies, Inc.* | 7,352,840 | ||||||
4,240 | Bandwidth, Inc., Class A* | 64,448 | ||||||
28,344 | Braze, Inc., Class A* | 979,852 | ||||||
173,609 | Cloudflare, Inc., Class A* | 10,704,731 | ||||||
100,881 | Datadog, Inc., Class A* | 7,330,013 | ||||||
45,087 | Fastly, Inc., Class A* | 800,745 | ||||||
98,289 | SolarWinds Corp.* | 845,285 | ||||||
121,392 | Splunk, Inc.* | 11,639,065 |
- 10 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased (continued)
Shares | March 31, 2023 Fair Value | |||||||
Common Stock – (continued) | ||||||||
United States – (continued) | ||||||||
Computer Software – (continued) | ||||||||
79,604 | Teradata Corp.* | $ | 3,206,449 | |||||
42,923,428 | ||||||||
Computers – 0.04% | ||||||||
25,667 | HP, Inc. | 753,326 | ||||||
Consulting Services – 0.39% | ||||||||
42,682 | Verisk Analytics, Inc. | 8,188,969 | ||||||
Consumer Products - Miscellaneous – 1.05% | ||||||||
163,373 | Kimberly-Clark Corp. | 21,927,924 | ||||||
Cosmetics & Toiletries – 0.72% | ||||||||
96,031 | Colgate-Palmolive Co. | 7,216,730 | ||||||
53,110 | The Procter & Gamble Co. | 7,896,926 | ||||||
15,113,656 | ||||||||
Diversified Manufacturing Operations – 0.35% | ||||||||
105,824 | A.O. Smith Corp. | 7,317,730 | ||||||
E-Commerce / Products – 0.40% | ||||||||
243,062 | Wayfair, Inc., Class A* | 8,346,749 | ||||||
E-Commerce / Services – 0.05% | ||||||||
57,347 | TripAdvisor, Inc.* | 1,138,911 | ||||||
Electric - Distribution – 0.40% | ||||||||
88,050 | Consolidated Edison, Inc. | 8,423,744 | ||||||
Electric - Integrated – 1.05% | ||||||||
45,357 | Duke Energy Corp. | 4,375,590 | ||||||
60,382 | Entergy Corp. | 6,505,557 | ||||||
117,048 | PPL Corp. | 3,252,764 | ||||||
114,052 | The Southern Co. | 7,935,738 | ||||||
22,069,649 | ||||||||
Electronic Components - Semiconductors – 5.64% | ||||||||
130,972 | GLOBALFOUNDRIES, Inc.* | 9,453,559 | ||||||
79,407 | Marvell Technology, Inc. | 3,438,323 | ||||||
177,826 | NVIDIA Corp. | 49,394,728 | ||||||
301,724 | Texas Instruments, Inc. | 56,123,681 | ||||||
118,410,291 | ||||||||
Electronic Forms – 0.77% | ||||||||
41,692 | Adobe, Inc.* | 16,066,846 | ||||||
Enterprise Software / Services – 0.37% | ||||||||
8,214 | HubSpot, Inc.* | 3,521,752 | ||||||
501,570 | Palantir Technologies Inc., Class A* | 4,238,267 | ||||||
7,760,019 |
- 11 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased (continued)
Shares | March 31, 2023 Fair Value | |||||||
Common Stock – (continued) | ||||||||
United States – (continued) | ||||||||
Finance - Credit Card – 0.18% | ||||||||
341,601 | The Western Union Co. | $ | 3,808,851 | |||||
Food - Confectionery – 0.24% | ||||||||
31,501 | The J M Smucker Co. | 4,957,312 | ||||||
Food - Miscellaneous / Diversified – 2.48% | ||||||||
260,725 | Campbell Soup Co. | 14,334,660 | ||||||
278,730 | Conagra Brands, Inc. | 10,469,099 | ||||||
160,979 | General Mills, Inc. | 13,757,265 | ||||||
200,058 | Kellogg Co. | 13,395,884 | ||||||
51,956,908 | ||||||||
Internet Applications Software – 0.37% | ||||||||
89,322 | Okta, Inc.* | 7,703,129 | ||||||
Internet Content - Entertainment – 0.41% | ||||||||
768,552 | Snap, Inc., Class A* | 8,615,468 | ||||||
Internet Infrastructure Software – 0.19% | ||||||||
27,908 | F5, Inc.* | 4,065,917 | ||||||
Investment Management / Advisory Services – 1.57% | ||||||||
179,104 | Invesco, Ltd. | 2,937,306 | ||||||
266,469 | T Rowe Price Group, Inc. | 30,084,350 | ||||||
33,021,656 | ||||||||
Medical - Biomedical / Genetics – 0.74% | ||||||||
63,788 | Amgen, Inc. | 15,420,749 | ||||||
Medical - Drugs – 0.84% | ||||||||
114,299 | Johnson & Johnson | 17,716,345 | ||||||
Networking Products – 0.33% | ||||||||
130,422 | Cisco Systems, Inc. | 6,817,810 | ||||||
Private Equity – 0.06% | ||||||||
15,607 | Ares Management Corp., Class A | 1,302,248 | ||||||
Real Estate Management / Services – 0.23% | ||||||||
179,683 | Anywhere Real Estate, Inc.* | 948,726 | ||||||
371,710 | Cushman & Wakefield PLC* | 3,917,823 | ||||||
4,866,549 | ||||||||
REITs - Health Care – 0.11% | ||||||||
54,834 | Ventas, Inc. | 2,377,054 | ||||||
REITs - Office Property – 0.93% | ||||||||
186,596 | Boston Properties, Inc. | 10,098,576 | ||||||
144,219 | Brandywine Realty Trust | 682,156 | ||||||
248,004 | Douglas Emmett, Inc. | 3,057,889 | ||||||
116,735 | Hudson Pacific Properties, Inc. | 776,288 | ||||||
42,231 | JBG SMITH Properties | 635,999 | ||||||
106,172 | SL Green Realty Corp. | 2,497,165 |
- 12 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased (continued)
Shares | March 31, 2023 Fair Value | |||||||
Common Stock – (continued) | ||||||||
United States – (continued) | ||||||||
REITs - Office Property – (continued) | ||||||||
106,352 | Vornado Realty Trust | $ | 1,634,630 | |||||
19,382,703 | ||||||||
REITs - Shopping Centers – 0.77% | ||||||||
48,811 | Federal Realty Investment Trust | 4,823,991 | ||||||
243,399 | Kimco Realty Corp. | 4,753,582 | ||||||
105,828 | Regency Centers Corp. | 6,474,557 | ||||||
16,052,130 | ||||||||
REITs - Storage – 1.23% | ||||||||
22,444 | Extra Space Storage, Inc. | 3,656,801 | ||||||
73,650 | Public Storage | 22,252,611 | ||||||
25,909,412 | ||||||||
REITs - Warehouse / Industrial – 0.46% | ||||||||
77,634 | Prologis, Inc. | 9,686,394 | ||||||
Retail - Apparel / Shoes – 0.03% | ||||||||
105,358 | Chico’s FAS, Inc.* | 579,469 | ||||||
Retail - Bedding – 0.00% | ||||||||
26,784 | Bed, Bath & Beyond, Inc.* | 11,447 | ||||||
Retail - Major Department Stores – 0.23% | ||||||||
297,522 | Nordstrom, Inc. | 4,840,683 | ||||||
Retail - Miscellaneous / Diversified – 0.23% | ||||||||
308,322 | Sally Beauty Holdings, Inc.* | 4,803,657 | ||||||
Retail - Regional Department Stores – 0.40% | ||||||||
300,279 | Kohl’s Corp. | 7,068,568 | ||||||
70,585 | Macy’s, Inc. | 1,234,532 | ||||||
8,303,100 | ||||||||
Retail - Restaurants – 0.12% | ||||||||
72,316 | The Cheesecake Factory, Inc. | 2,534,676 | ||||||
Telephone - Integrated – 1.03% | ||||||||
296,147 | AT&T, Inc. | 5,700,830 | ||||||
408,085 | Verizon Communications, Inc. | 15,870,426 | ||||||
21,571,256 | ||||||||
Transport - Services – 1.55% | ||||||||
327,839 | CH Robinson Worldwide, Inc. | 32,577,361 | ||||||
Total United States (Proceeds $809,448,525) | $ | 774,556,380 | ||||||
Canada – 0.28% | ||||||||
Investment Management / Advisory Services – 0.06% | ||||||||
35,462 | Brookfield Asset Management, Ltd., Class A* | 1,160,317 | ||||||
Medical - Drugs – 0.00% | ||||||||
81,234 | Canopy Growth Corp.* | 142,188 |
- 13 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased (continued)
Shares | March 31, 2023 Fair Value | |||||||
Common Stock – (continued) | ||||||||
Canada – (continued) | ||||||||
Private Equity – 0.22% | ||||||||
141,852 | Brookfield Corp. | $ | 4,622,957 | |||||
Total Canada (Proceeds $9,701,878) | $ | 5,925,462 | ||||||
China – 1.82% | ||||||||
Auto - Cars / Light Trucks – 1.00% | ||||||||
489,672 | Li Auto, Inc. - Sponsored ADR* | 12,217,316 | ||||||
415,068 | NIO, Inc. - Sponsored ADR* | 4,362,365 | ||||||
397,510 | Xpeng, Inc. - Sponsored ADR* | 4,416,336 | ||||||
20,996,017 | ||||||||
Internet Content - Information / Network – 0.49% | ||||||||
22,600 | Meituan, Class B* | 413,136 | ||||||
201,400 | Tencent Holdings, Ltd. | 9,898,168 | ||||||
10,311,304 | ||||||||
Metal - Aluminum – 0.04% | ||||||||
4,170,000 | China Zhongwang Holdings, Ltd.* | 892,439 | ||||||
Retail - Drug Stores – 0.04% | ||||||||
359,600 | Ping An Healthcare and Technology Co., Ltd.* | 909,771 | ||||||
Wireless Equipment – 0.25% | ||||||||
3,413,800 | Xiaomi Corp., Class B* | 5,262,069 | ||||||
Total China (Proceeds $42,382,201) | $ | 38,371,600 | ||||||
France – 0.11% | ||||||||
REITs - Regional Malls – 0.11% | ||||||||
97,637 | Klepierre SA | 2,211,720 | ||||||
Total France (Proceeds $1,582,846) | $ | 2,211,720 | ||||||
Germany – 1.23% | ||||||||
Enterprise Software / Services – 1.23% | ||||||||
204,264 | SAP SE | 25,756,340 | ||||||
Total Germany (Proceeds $27,682,571) | $ | 25,756,340 | ||||||
Hong Kong – 0.42% | ||||||||
Auto - Cars / Light Trucks – 0.25% | ||||||||
4,053,000 | Geely Automobile Holdings, Ltd. | 5,214,721 | ||||||
Electric - Integrated – 0.17% | ||||||||
661,000 | Power Assets Holdings, Ltd. | 3,545,003 | ||||||
Total Hong Kong (Proceeds $10,119,729) | $ | 8,759,724 | ||||||
Israel – 0.65% | ||||||||
Auto/Truck Parts & Equipment - Original – 0.43% | ||||||||
207,367 | Mobileye Global, Inc., Class A* | 8,972,770 |
- 14 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Securities Sold, Not Yet Purchased (concluded)
Shares | March 31, 2023 Fair Value | |||||||
Common Stock – (continued) | ||||||||
Israel – (continued) | ||||||||
Computer Data Security – 0.22% | ||||||||
35,989 | Check Point Software Technologies, Ltd.* | $ | 4,678,570 | |||||
Total Israel (Proceeds $10,549,909) | $ | 13,651,340 | ||||||
Japan – 1.11% | ||||||||
Auto - Cars / Light Trucks – 1.11% | ||||||||
1,643,100 | Toyota Motor Corp. | 23,210,068 | ||||||
Total Japan (Proceeds $22,544,607) | $ | 23,210,068 | ||||||
Netherlands – 0.45% | ||||||||
Semiconductor Components - Integrated Circuits – 0.45% | ||||||||
50,628 | NXP Semiconductors NV | 9,440,856 | ||||||
Total Netherlands (Proceeds $9,652,376) | $ | 9,440,856 | ||||||
Switzerland – 0.35% | ||||||||
Medical - Drugs – 0.35% | ||||||||
78,886 | Novartis AG - Sponsored ADR | 7,257,512 | ||||||
Total Switzerland (Proceeds $6,710,288) | $ | 7,257,512 | ||||||
Taiwan – 0.35% | ||||||||
Semiconductor Components - Integrated Circuits – 0.35% | ||||||||
834,514 | United Microelectronics Corp. - Sponsored ADR | 7,310,343 | ||||||
Total Taiwan (Proceeds $8,394,038) | $ | 7,310,343 | ||||||
Total Common Stock (Proceeds $958,768,968) | $ | 916,451,345 | ||||||
Total Securities Sold, Not Yet Purchased (Proceeds $958,768,968) | $ | 916,451,345 |
* | Non-income producing security |
ADR | American Depository Receipt |
REIT | Real Estate Investment Trust |
- 15 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Written Options
Notional Amount (USD) | Contracts | Expiration Date Strike Price | March 31, 2023 Fair Value | |||||||||
Written Options – 0.01% | ||||||||||||
Equity Options – 0.01% | ||||||||||||
Equity Put Options – 0.01% | ||||||||||||
United States – 0.00% | ||||||||||||
Enterprise Software / Services - 0.00% | ||||||||||||
5/19/2023 | ||||||||||||
$ | 16,084,000 | 4,021 | $40 | Alteryx, Inc., Class A | $ | 40,210 | ||||||
Total United States (Proceeds $641,774) | $ | 40,210 | ||||||||||
Australia – 0.01% | ||||||||||||
Enterprise Software / Services - 0.01% | ||||||||||||
6/16/2023 | ||||||||||||
8,580,000 | 715 | $120 | Atlassian Corp. PLC, Class A | $ | 193,050 | |||||||
Total Australia (Proceeds $614,158) | $ | 193,050 | ||||||||||
Total Equity Put Options (Proceeds - $1,255,932) | $ | 233,260 | ||||||||||
Total Equity Options (Proceeds - $1,255,932) | $ | 233,260 | ||||||||||
Total Written Options (Proceeds - $1,255,932) | $ | 233,260 |
* | Counterparty to all written options is Morgan Stanley |
- 16 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Gain *** | |||||||||
Swap Contracts -2.54% | |||||||||||
Total Return Swap Contracts - Unrealized Gain - 3.42% | |||||||||||
United States – 2.30% | |||||||||||
Web Portals / ISP - 2.30% | |||||||||||
$ | 30,537,522 | 6/3/2024 | Alphabet, Inc., Class A | $ | 48,300,877 | ||||||
Agreement with Morgan Stanley, dated 07/08/2011 to deliver the total return of the shares of Alphabet Inc., Class A in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.45%**. | |||||||||||
Total United States | $ | 48,300,877 | |||||||||
Australia - 0.23% | |||||||||||
Commercial Banks - Non-US - 0.23% | |||||||||||
(7,996,523 | ) | 12/27/2024 | Bank of Queensland, Ltd. | 2,427,919 | |||||||
Agreement with Morgan Stanley, dated 06/20/2018 to deliver the total return of the shares of Bank of Queensland, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
(18,549,418 | ) | 12/27/2024 | Westpac Banking Corp. | 2,416,830 | |||||||
Agreement with Morgan Stanley, dated 08/14/2015 to deliver the total return of the shares of Westpac Banking Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Total Australia | $ | 4,844,749 | |||||||||
Brazil – 0.10% | |||||||||||
Commercial Services - Finance - 0.10% | |||||||||||
(3,584,998 | ) | 2/3/2026 | Cielo SA | 2,071,598 | |||||||
Agreement with Morgan Stanley, dated 02/12/2019 to deliver the total return of the shares of Cielo SA in exchange for interest based on the Daily Fed Funds Effective Rate less 1.00%**. | |||||||||||
Total Brazil | $ | 2,071,598 | |||||||||
Japan - 0.20% | |||||||||||
Audio / Video Products - 0.11% | |||||||||||
(10,007,511 | ) | 12/24/2024 | Sharp Corp. | 2,358,580 | |||||||
Agreement with Morgan Stanley, dated 08/03/2012 to deliver the total return of the shares of Sharp Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 1.25%**. | |||||||||||
Bicycle Manufacturing - 0.01% | |||||||||||
(7,204,501 | ) | 12/24/2024 | Shimano, Inc. | $ | 126,462 | ||||||
Agreement with Morgan Stanley, dated 05/09/2022 to deliver the total return of the shares of Shimano, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. |
- 17 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (continued)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Gain *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Gain - (continued) | |||||||||||
Japan – (continued) | |||||||||||
Computer Services - 0.01% | |||||||||||
$ | (2,725,140 | ) | 12/24/2024 | Ricoh Co., Ltd. | $ | 151,369 | |||||
Agreement with Morgan Stanley, dated 05/24/2012 to deliver the total return of the shares of Ricoh Co., Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
E-Commerce / Products - 0.05% | |||||||||||
(1,934,885 | ) | 12/24/2024 | Rakuten Group, Inc. | 1,094,051 | |||||||
Agreement with Morgan Stanley, dated 08/16/2021 to deliver the total return of the shares of Rakuten Group, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Electric - Integrated - 0.01% | |||||||||||
(1,390,265 | ) | 12/24/2024 | Chubu Electric Power Co., Inc. | 99,102 | |||||||
Agreement with Morgan Stanley, dated 07/28/2021 to deliver the total return of the shares of Chubu Electric Power Co., Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
(956,585 | ) | 12/24/2024 | Tokyo Electric Power Co. Holdings, Inc. | 92,368 | |||||||
Agreement with Morgan Stanley, dated 02/17/2016 to deliver the total return of the shares of Tokyo Electric Power Co. Holdings, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
191,470 | |||||||||||
Office Automation & Equipment - 0.01% | |||||||||||
(12,633,411 | ) | 12/24/2024 | Canon, Inc. | 177,667 | |||||||
Agreement with Morgan Stanley, dated 03/31/2020 to deliver the total return of the shares of Canon, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Total Japan | $ | 4,099,599 | |||||||||
South Korea – 0.10% | |||||||||||
Petrochemicals - 0.10% | |||||||||||
35,653,869 | 8/14/2023 | LG Chem, Ltd. | 2,203,699 | ||||||||
Agreement with Morgan Stanley, dated 01/07/2022 to deliver the total return of the shares of LG Chem, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.90%**. | |||||||||||
Total South Korea | $ | 2,203,699 |
- 18 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (continued)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Gain *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Gain - (continued) | |||||||||||
Spain – 0.35% | |||||||||||
Building - Heavy Construction - 0.35% | |||||||||||
$ | 6,463,308 | 1/4/2024 | Cellnex Telecom SA | $ | 7,375,894 | ||||||
Agreement with Morgan Stanley, dated 05/06/2015 to deliver the total return of the shares of Cellnex Telecom SA in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.65%**. | |||||||||||
Total Spain | $ | 7,375,894 | |||||||||
Taiwan – 0.01% | |||||||||||
Semiconductor Components - Integrated Circuits - 0.01% | |||||||||||
(1,747,089 | ) | 1/25/2024 | Novatek Microelectronics, Ltd. | 130,767 | |||||||
Agreement with Morgan Stanley, dated 07/19/2013 to deliver the total return of the shares of Novatek Microelectronics, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 3.38%**. | |||||||||||
Total Taiwan | $ | 130,767 | |||||||||
United Kingdom – 0.13% | |||||||||||
Cosmetics & Toiletries - 0.02% | |||||||||||
(10,861,867 | ) | 1/4/2024 | Unilever PLC | 385,070 | |||||||
Agreement with Morgan Stanley, dated 12/23/2019 to deliver the total return of the shares of Unilever PLC in exchange for interest based on the Daily Fed Funds Effective Rate less 0.35%**. | |||||||||||
Food - Retail - 0.09% | |||||||||||
(3,303,148 | ) | 12/14/2023 | Marks & Spencer Group PLC | 1,884,422 | |||||||
Agreement with Morgan Stanley, dated 02/16/2016 to deliver the total return of the shares of Marks & Spencer Group PLC in exchange for interest based on the Daily Fed Funds Effective Rate less 0.30%**. | |||||||||||
Retail - Apparel / Shoes - 0.02% | |||||||||||
(3,471,304 | ) | 12/14/2023 | Next PLC | 505,171 | |||||||
Agreement with Morgan Stanley, dated 03/24/2016 to deliver the total return of the shares of Next PLC in exchange for interest based on the Daily Fed Funds Effective Rate less 0.30%**. | |||||||||||
Total United Kingdom | $ | 2,774,663 | |||||||||
Total Return Swap Contracts - Unrealized Gain**** | $ | 71,801,846 |
- 19 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (continued)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Loss *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Loss - (0.88%) | |||||||||||
United States – (0.06%) | |||||||||||
Private Equity - (0.06%) | |||||||||||
$ | 53,959,412 | 6/3/2024 | The Carlyle Group, Inc. | $ | (1,280,239 | ) | |||||
Agreement with Morgan Stanley, dated 11/16/2017 to receive the total return of the shares of The Carlyle Group, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.45%**. | |||||||||||
Total United States | $ | (1,280,239 | ) | ||||||||
Australia - (0.01%) | |||||||||||
Commercial Banks - Non-US - (0.00%) | |||||||||||
(9,219,617 | ) | 12/27/2024 | Commonwealth Bank of Australia | (64,861 | ) | ||||||
Agreement with Morgan Stanley, dated 02/24/2016 to receive the total return of the shares of Bank of Queensland, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Retail - Building Products - (0.01%) | |||||||||||
(5,002,122 | ) | 12/27/2024 | Wesfarmers, Ltd. | (229,270 | ) | ||||||
Agreement with Morgan Stanley, dated 12/23/2014 to receive the total return of the shares of Westfarmers, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Total Australia | $ | (294,131 | ) | ||||||||
Brazil – (0.41%) | |||||||||||
Finance - Other Services - (0.26%) | |||||||||||
21,994,674 | 2/3/2026 | B3 SA-Brasil Bolsa Balcao | (5,328,242 | ) | |||||||
Agreement with Morgan Stanley, dated 01/30/2019 to receive the total return of the shares of B3 SA-Brasil Bolsa Balcao in exchange for interest based on the Daily Fed Funds Effective Rate plus 1.00%**. | |||||||||||
Retail - Discount - (0.15%) | |||||||||||
18,994,063 | 2/3/2026 | Magazine Luiza SA | (3,065,611 | ) | |||||||
Agreement with Morgan Stanley, dated 07/02/2019 to receive the total return of the shares of Magazine Luiza SA in exchange for interest based on the Daily Fed Funds Effective Rate plus 1.00%**. | |||||||||||
Total Brazil | $ | (8,393,853 | ) |
- 20 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (continued)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Loss *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Loss - (continued) | |||||||||||
China – (0.04%) | |||||||||||
Applications Software - (0.04%) | |||||||||||
$ | 32,033,453 | 7/16/2024 | Glodon Co., Ltd., Class A | $ | (889,657 | ) | |||||
Agreement with Morgan Stanley, dated 07/10/2020 to receive the total return of the shares of Glodon Co., Ltd., Class A in exchange for interest based on the Daily Fed Funds Effective Rate plus 1.25%**. | |||||||||||
Total China | $ | (889,657 | ) | ||||||||
Ireland – (0.06%) | |||||||||||
Commercial Services - Finance - (0.06%) | |||||||||||
5,003,703 | 12/14/2023 | Experian PLC | (1,322,380 | ) | |||||||
Agreement with Morgan Stanley, dated 09/07/2021 to receive the total return of the shares of Experian PLC in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.65%**. | |||||||||||
Total Ireland | $ | (1,322,380 | ) | ||||||||
Japan – (0.20%) | |||||||||||
Building Products - Air & Heating - (0.03%) | |||||||||||
(5,179,412 | ) | 12/24/2024 | Daikin Industries, Ltd. | (547,038 | ) | ||||||
Agreement with Morgan Stanley, dated 04/22/2022 to receive the total return of the shares of Daikin Industries, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Office Automation & Equipment - (0.01%) | |||||||||||
(1,077,912 | ) | 12/24/2024 | Konica Minolta, Inc. | (292,530 | ) | ||||||
Agreement with Morgan Stanley, dated 04/13/2011 to receive the total return of the shares of Konica Minolta, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
Photo Equipment & Supplies - (0.00%) | |||||||||||
(2,162,740 | ) | 12/24/2024 | Nikon Corp. | (43,152 | ) | ||||||
Agreement with Morgan Stanley, dated 10/29/2013 to receive the total return of the shares of Nikon Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. |
- 21 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (continued)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Loss *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Loss - (continued) | |||||||||||
Japan – (continued) | |||||||||||
Semiconductor Equipment - (0.16%) | |||||||||||
$ | (14,471,441 | ) | 12/24/2024 | Advantest Corp. | $ | (3,037,096 | ) | ||||
Agreement with Morgan Stanley, dated 08/26/2011 to receive the total return of the shares of Advantest Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**. | |||||||||||
(18,464,837 | ) | 12/24/2024 | Tokyo Electron, Ltd. | (321,958 | ) | ||||||
Agreement with Morgan Stanley, dated 1/10/2020 to receive the total return of the shares of Tokyo Electron, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.44%**. | |||||||||||
(3,359,054 | ) | ||||||||||
Total Japan | $ | (4,241,774 | ) | ||||||||
Netherlands – (0.09%) | |||||||||||
Music - (0.09%) | |||||||||||
(6,040,646 | ) | 12/14/2023 | Universal Music Group NV | (1,812,177 | ) | ||||||
Agreement with Morgan Stanley, dated 08/22/2022 to receive the total return of the shares of Universal Music Group NV in exchange for interest based on the Daily Fed Funds Effective Rate less 0.35%**. | |||||||||||
Total Netherlands | $ | (1,812,177 | ) | ||||||||
Sweden – (0.00%) | |||||||||||
Auto - Cars / Light Trucks - (0.00%) | |||||||||||
(169,292 | ) | 1/4/2024 | Volvo Car AB | (11,614 | ) | ||||||
Agreement with Morgan Stanley, dated 10/24/2022 to receive the total return of the shares of Volvo Car AB in exchange for interest based on the Daily Fed Funds Effective Rate less 2.38%**. | |||||||||||
Total Sweden | $ | (11,614 | ) |
- 22 - |
Advantage Advisers Xanthus Fund, L.L.C.
Schedule of Swap Contracts (concluded)
Notional Amount | Maturity Date* | March 31, 2023 Unrealized Loss *** | |||||||||
Swap Contracts - (continued) | |||||||||||
Total Return Swap Contracts - Unrealized Loss - (continued) | |||||||||||
Taiwan – (0.01%) | |||||||||||
Electronic Components - Miscellaneous - (0.01%) | |||||||||||
$ | (1,372,771 | ) | 1/25/2024 | AUO Corp. | $ | (228,405 | ) | ||||
Agreement with Morgan Stanley, dated 07/26/2012 to receive the total return of the shares of AUO Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 3.95%**. | |||||||||||
(960,755 | ) | 1/25/2024 | United Microelectronics Corp. | (51,744 | ) | ||||||
Agreement with Morgan Stanley, dated 08/08/2013 to receive the total return of the shares of United Microelectronics Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 2.00%**. | |||||||||||
Total Taiwan | $ | (280,149 | ) | ||||||||
Total Return Swap Contracts - Unrealized Loss***** | $ | (18,525,974 | ) | ||||||||
Total Swap Contracts, net | $ | 53,275,872 |
* | Per the terms of the executed swap agreement, no periodic payments were made. A single payment is made upon the maturity of each swap contract. | |
** | Financing rate is variable. Rate indicated is as of March 31, 2023. | |
*** | The fair value of the Total Return Swap Contracts is the same as the unrealized gain/(loss). For this reason, fair value has not been separately shown. Additionally, there were no upfront payments or receipts related to any of the Total Return Swap Contracts. | |
**** | Includes all Total Return Swap Contracts in a gain position. The unrealized gain on these contracts are included as part of unrealized gain on Total Return Swap Contracts in the Statement of Assets, Liabilities and Members’ Capital. | |
***** | Includes all Total Return Swap Contracts in a loss position. The unrealized loss on these contracts are included as part of unrealized loss on Total Return Swap Contracts in the Statement of Assets, Liabilities and Members’ Capital. |
- 23 - |
The following is a summary of the inputs used, as of March 31, 2023, in valuing the Company’s investments at fair value
Assets: | ||||
Valuation Inputs | ||||
Level 1 - Quoted Prices | ||||
Investments in Securities | ||||
Common Stock | $ | 2,308,102,236 | ||
Equity Options | 310,338,481 | |||
Level 2 - Other Significant | ||||
Observable Inputs | ||||
Total Return Swaps | 71,801,846 | |||
Currency Options | 564,316 | |||
Level 3 - Other Significant | ||||
Unobservable Inputs | - | |||
Total | $ | 2,690,806,879 |
Liabilities: | ||||
Valuation Inputs | ||||
Level 1 - Quoted Prices | ||||
Securities Sold, Not Yet Purchased | ||||
Common Stock | $ | 916,451,345 | ||
Equity Options | 233,260 | |||
Level 2 - Other Significant | ||||
Observable Inputs | ||||
Total Return Swaps | 18,525,974 | |||
Currency Options | - | |||
Level 3 - Other Significant | ||||
Unobservable Inputs | - | |||
Total | $ | 935,210,579 |
- 24 - |