Zimmer Partners, LP

CIK 0001565854 · Q1 2026

13F Equity AUM

$4.1B

+9.1% QoQ

Positions

121

+3 QoQ

AUM Rank

#1,141

Top 9%

Skill Alpha (FF)

+0.7%/yr^ns

No Clear Edge

Rank #1,790 · Top 22%

vs S&P -7.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 28.0%Top 10: 46.8%Top 20: 65.3%

ADC6.0%

ES5.8%

NI5.8%

WELL5.3%

XEL5.0%

TRGP4.8%

KMI4.7%

KGS3.4%

TXNM 5.75 06/01/543.1%

PCG2.9%

Others (111)53.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Utilities43.8%

Energy17.0%

Real Estate13.9%

Industrials12.7%

Financial Services3.1%

Unclassified2.8%

Consumer Cyclical2.1%

Other4.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 121Median: 0.34%Avg: 0.83%

0–0.5%

74(13.8%)

0.5–1%

22(14.7%)

1–3%

16(27.6%)

3–5%

4(15.9%)

5%+

5(28.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 120Unique: 1vs 20 funds

1.6%Low

121

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

2.9%

MORGAN STANLEY

2.2%

BANK OF AMERICA CORP /DE/

2.3%

GEODE CAPITAL MANAGEMENT, LLC

3.1%

VANGUARD CAPITAL MANAGEMENT LLC

3.2%

STATE STREET CORP

3.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.7%

JPMORGAN CHASE & CO

2.1%

FMR LLC

3.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New44Increased33Decreased39Exited42

New Positions

ADC6.0%

+3.3M

WEC2.3%

+834K

FORGENT POWER SOLUTI…1.4%

+2.0M

D0.8%

+500K

NEXTERA ENERGY INC0.7%

+609K

VSEC0.7%

+161K

APH0.7%

+232K

WHR0.6%

+431K

HE0.5%

+1.5M

PNR0.4%

+200K

Increased

KMI4.7%

+1.7M(+43%)

BKV1.3%

+1.4M(+290%)

NI5.8%

+1.3M(+33%)

HTO1.8%

+1.2M(+2755%)

QXO0.7%

+975K(+163%)

KTOS1.3%

+693K(+770%)

BKH1.4%

+590K(+214%)

SARO0.5%

+489K(+135%)

SWX1.3%

+422K(+228%)

PNW1.2%

+364K(+266%)

Decreased

KNTK0.2%

-2,602,250(-95%)

KGS3.4%

-1,889,637(-44%)

VNOM0.9%

-970,000(-56%)

ETR2.5%

-733,400(-44%)

TTAM0.1%

-723,718(-73%)

SRE1.6%

-709,700(-50%)

CNP0.5%

-561,600(-56%)

ELDN0.1%

-509,228(-21%)

FVR0.2%

-496,252(-54%)

GAUZ0.0%

-481,187(-83%)

Exited

ADT

-12,365,246

AEE

-713,945

-2,227,253

-742,500

-2,090,000

-136,000

-444,790

-100,000

-135,800

-366,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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