TC
Technology Crossover Management XI, Ltd. — 13F Filings Deep Dive
Technology Crossover Management XI, Ltd.CIK: 0001977402
Concentrated strategySector-focusedQuality / disciplined sizing
Total reported value
$581.7M
Reporting period: 2026-03-31 · Number of holdings: 2
Technology Crossover Management XI, Ltd. disclosed 2 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $581.7M and a quarterly turnover rate of 24.0%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "T"
Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 23.99
- Momentum/Contrarian
- 50
- Sector conviction
- 100
- Diversification
- 4
- Sizing Uniformity
- 90.56
Technology Crossover Management XI, Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.723 — 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 0.94), 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.
Recent moves
Add SPOT
0.0% -$95.8M
Trim Z
0.0% -$62.8M
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 | 83.37% | +4.92% | — | |
| 2 | Z | Zillow Group INC - C | Stock-Comm Services | 16.63% | -4.92% | — |
Portfolio Performance
Performance for Q3 2026
+7.1%
Performance Last 4 Quarters
-23.9%
Based on 83% of reported portfolio value with available pricing
- Stdev
- +31.5%
- Beta
- +0.81
- Alpha
- +25.9%
- Max Drawdown
- -40.1%
- Annualized Perf
- +42.8%
- Batting Avg vs S&P
- +61.1%
- Sortino
- +2.52
- Stutzer
- +0.38
- Treynor
- +0.51
- Sterling
- +1.63
- Calmar
- +1.07
- Information Ratio
- +0.75
- Tracking Error
- +29.8%
- Stdev Down
- +16.2%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +143.7%
- Worst 12 Months
- -38.4%
- Efficiency Ratio
- +0.68
- Sharpe
- +1.3
- Stdev Sectors
- 0%
- Skewness
- -0.02
- Kurtosis
- -0.29
- Upside Potential
- +4.15
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 2 | $581.7M | 24 | |
| 2025-12-31 | 2 | $740.2M | 28 | |
| 2025-09-30 | 3 | $977.4M | 4 | |
| 2025-06-30 | 3 | $1.1B | 0 | |
| 2025-03-31 | 3 | $981.6M | 0 | |
| 2024-12-31 | 3 | $865.4M | 0 | |
| 2024-09-30 | 3 | $737.4M | 0 | |
| 2024-06-30 | 3 | $602.3M | 0 | |
| 2024-03-31 | 2 | $443.0M | 0 | |
| 2023-12-31 | 2 | $307.1M | 0 | |
| 2023-09-30 | 2 | $280.8M | 0 | |
| 2023-06-30 | 1 | $152.9M | 0 | |
| 2023-03-31 | 1 | $127.3M | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPOT | Spotify Technology S.A. | +4.9% | — | Unchanged |
| 2 | Z | Zillow Group INC - C | -4.9% | — | Unchanged |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-09 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
FAQ
What is Technology Crossover Management XI, Ltd. and what type of investor is it?
Technology Crossover Management XI, Ltd. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $581.7M, 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) — $484.9M (83.4%)
2. Zillow Group INC - C (Z) — $96.7M (16.6%)
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%
Peer Institutions
Institutions with a similar AUM
CA
Cambridge Advisors Inc.
CIK 0001633695
Total reported value
$581.7M
183 stks
2026-06-30
Concentration22.6
Portfolio Stability14.1
Sector conviction78.5
AUM within 0.0% of this institution
View detail
TE
Tensor Edge Capital, LLC
CIK 0002096531
Total reported value
$581.8M
17 stks
2026-03-31
Concentration31.6
Portfolio Stability72.2
Sector conviction100.0
AUM within 0.0% of this institution
View detail
DL
D L Carlson Investment Group INC
CIK 0001021117
Total reported value
$581.8M
135 stks
2026-03-31
Concentration13.4
Portfolio Stability23.5
Sector conviction48.4
AUM within 0.0% of this institution
View detail
Similar Holdings Style
Institutions with overlapping top holdings
Baillie Gifford & Co
CIK 0001088875
Total reported value
$97.9B
906 stks
2026-03-31
Concentration10.0
Portfolio Stability29.7
Sector conviction55.5
1 of the top 5 holdings overlap, including Spotify Technology S.A.
View detail
C(
Caledonia (Private) Investments Pty Ltd
CIK 0001352924
Total reported value
$3.4B
16 stks
2026-03-31
Concentration81.2
Portfolio Stability48.0
Sector conviction100.0
1 of the top 5 holdings overlap, including Zillow Group INC - C
View detail
TC
Tremblant Capital Group
CIK 0001353312
Total reported value
$3.1B
57 stks
2026-03-31
Concentration9.4
Portfolio Stability49.1
Sector conviction54.8
1 of the top 5 holdings overlap, including Spotify Technology S.A.
View detail