TC
Technology Crossover Management XI, Ltd. 13F Filings & Institutional Holdings (Q2 2026)
Technology Crossover Management XI, Ltd.CIK: 0001977402
Concentrated strategySector-focusedQuality / disciplined sizing
Total reported value
$532.8M
Reporting period: 2026-06-30 · Number of holdings: 2
Technology Crossover Management XI, Ltd. disclosed 2 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $532.8M and a quarterly turnover rate of 8.8%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 8.76
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 4
- Sizing Uniformity
- 89.77
Technology Crossover Management XI, Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.762 — mathematically equivalent to about 1 equally-sized positions, well below its 2 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.02), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPOT
0.0% -$25.8M
Trim Z
0.0% -$23.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 86.17% | +2.80% | — | |
| 2 | Z | Zillow Group Inc - C | Stock-Comm Services | 13.83% | -2.80% | — |
Portfolio Performance
Performance for Q3 2026
+8.9%
Performance Last 4 Quarters
-26.3%
- Stdev
- +30.9%
- Beta
- +0.92
- Alpha
- +21%
- Max Drawdown
- -41.8%
- Annualized Perf
- +41.1%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +2.67
- Stutzer
- +0.38
- Treynor
- +0.43
- Sterling
- +1.57
- Calmar
- +0.98
- Information Ratio
- +0.68
- Tracking Error
- +28.6%
- Stdev Down
- +14.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +147%
- Worst 12 Months
- -41.8%
- Efficiency Ratio
- +0.65
- Sharpe
- +1.27
- Stdev Sectors
- 0%
- Skewness
- +0.24
- Kurtosis
- -0.34
- Upside Potential
- +4.45
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPOT | Spotify Technology S.A. | +2.8% | — | Unchanged |
| 2 | Z | Zillow Group Inc - C | -2.8% | — | Unchanged |
Filing History
FAQ
What is Technology Crossover Management XI, Ltd. and what type of investor is it?
Technology Crossover Management XI, Ltd. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $532.8M, spread across 2 disclosed positions.
What are Technology Crossover Management XI, Ltd.'s largest equity positions?
Based on the latest 13F filing, Technology Crossover Management XI, Ltd.'s top holdings by market value are:
1. Spotify Technology S.A. (SPOT) — $459.1M (86.2%)
2. Zillow Group Inc - C (Z) — $73.7M (13.8%)
What changes did Technology Crossover Management XI, Ltd. make in its most recent portfolio filing?
No notable portfolio changes were recorded for Technology Crossover Management XI, Ltd. in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does Technology Crossover Management XI, Ltd. focus on?
Technology Crossover Management XI, Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 100.0%
Investment Profile
Technology Crossover Management XI, Ltd. returned an annualized 41.1% over the trailing 36 months — outperforming the S&P 500 by 21.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.92 (roughly in line with the market) and a 58% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 100.0% of the portfolio concentrated in Communication Services.
It has trimmed its SPOT position for two straight quarters, cutting it by $121.6M while still holding $459.1M.
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BO
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