NPORT-EX 2 c95848_nportex.htm

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Portfolio Investments (Unaudited)

 

Shares         March 31, 2020
Fair Value
 Investsments in Securities – 104.10%      
  Common Stock – 104.10%        
  United States – 78.67%        
   Aerospace / Defense – 3.35%        
 76,838   Northrop Grumman Corp.  (a)  $23,247,337 
 86,895   Raytheon Co.      11,396,279 
 98,245   The Boeing Co.  (a)   14,652,259 
 78,484   TransDigm Group, Inc.*      25,129,792 
            74,425,667 
   Applications Software – 7.21%        
 75,320   Elastic NV*      4,203,609 
 395,678   Five9, Inc.*      30,253,540 
 605,476   Microsoft Corp.  (a)   95,489,620 
 121,482   PTC, Inc.*      7,435,913 
 544,895   Smartsheet, Inc., Class A*      22,618,591 
            160,001,273 
   Building Products - Cement / Aggregate – 1.50%        
 79,748   Martin Marietta Materials, Inc.  (a)   15,090,714 
 167,823   Vulcan Materials Co.      18,136,632 
            33,227,346 
   Coatings / Paint – 0.57%        
 27,557   The Sherwin - Williams Co.  (a)   12,662,993 
   Commercial Services – 0.42%        
 54,375   Cintas Corp.      9,418,838 
   Commercial Services - Finance – 3.80%        
 413,705   Avalara, Inc.*  (a)   30,862,393 
 240,950   Global Payments, Inc.  (a)   34,752,219 
 32,291   S&P Global, Inc.      7,912,910 
 160,257   TransUnion      10,605,808 
            84,133,330 
   Communications Software – 5.45%        
 571,139   RingCentral, Inc., Class A*  (a)   121,030,066 
  Computer Aided Design – 8.79%        
 168,139   Altair Engineering, Inc., Class A*      4,455,684 
 88,356   ANSYS, Inc.*      20,540,119 
 306,018   Aspen Technology, Inc.*  (a)   29,093,131 
 141,639   Autodesk, Inc.*      22,109,848 
 992,453   Cadence Design Systems, Inc.**  (a)   65,541,596 
 413,044   Synopsys, Inc.*  (a)   53,195,937 
            194,936,315 
   Computer Services – 0.33%        
 232,385   Parsons Corp.*      7,427,025 
   Computer Software – 1.30%        
 660,398   SS&C Technologies Holdings, Inc.  (a)   28,938,640 
  Computers – 2.65%        
 231,324   Apple, Inc.      58,823,380 
   Data Processing / Management – 1.22%        
 223,055   Fidelity National Information Services, Inc.      27,132,410 
   E-Commerce / Products – 4.81%        
 54,814   Amazon.com, Inc.*  (a)   106,871,952 
   E-Commerce / Services – 0.73%        
 12,062   Booking Holdings, Inc.*      16,227,250 
- 1 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Portfolio Investments (Unaudited) (continued)

 

Shares         March 31, 2020
Fair Value
  Common Stock – (continued)        
  United States – (continued)        
   Electronic Components - Semiconductors – 1.62%        
 253,151   Microchip Technology, Inc.*     $17,163,638 
 141,670   Micron Technology, Inc.*      5,958,640 
 166,249   Xilinx, Inc.*      12,957,447 
            36,079,725 
   Enterprise Software / Services – 4.07%        
 357,272   Alteryx, Inc., Class A*  (a)   34,001,576 
 229,749   Ceridian HCM Holding, Inc.*  (a)   11,503,532 
 312,965   Coupa Software, Inc., *  (a)   43,730,599 
 30,405   Datadog, Inc., Class A*      1,093,972 
            90,329,679 
   Entertainment Software – 2.34%        
 650,061   Activision Blizzard, Inc.      38,665,628 
 94,407   Electronic Arts, Inc.*      9,456,749 
 31,772   Take-Two Interactive Software, Inc.**      3,768,477 
            51,890,854 
   Finance - Credit Card – 3.08%        
 139,756   Mastercard, Inc., Class A  (a)   33,759,459 
 214,759   Visa, Inc., Class A  (a)   34,601,970 
            68,361,429 
   Finance - Investment Banker / Broker – 0.53%        
 282,758   Tradeweb Markets, Inc., Class A      11,887,146 
   Finance - Other Services – 2.23%        
 73,982   CME Group, Inc.      12,792,228 
 454,509   Intercontinental Exchange Group, Inc.  (a)   36,701,602 
            49,493,830 
   Human Resources – 0.49%        
 122,300   Paylocity Holding Corp.*  (a)   10,801,536 
   Internet Application Software – 1.97%        
 336,403   Anaplan, Inc.*      10,179,555 
 275,558   Okta, Inc.*      33,689,721 
            43,869,276 
   Internet Content - Entertainment – 3.40%        
 452,675   Facebook, Inc., Class A*  (a)   75,506,190 
   Linen Supply & Related Items – 0.08%        
 11,346   UniFirst Corp./MA      1,714,267 
   Medical - Biomedical / Genetics – 4.29%        
 236,646   Acceleron Pharma, Inc.*      21,267,376 
 155,361   Akero Therapeutics, Inc.*      3,293,653 
 80,728   Alnylam Pharmaceuticals, Inc.**      8,787,243 
 110,973   Applied Therapeutics, Inc.*      3,627,707 
 131,381   Arena Pharmaceuticals, Inc.*      5,518,002 
 88,706   Beam Therapeutics, Inc.*      1,596,708 
 197,011   Blueprint Medicines Corp.*      11,521,203 
 101,113   Deciphera Pharmaceuticals, Inc.*      4,162,822 
 84,107   IGM Biosciences, Inc.*      4,722,608 
 531,536   Immunomedics, Inc.*      7,165,105 
 329,676   Karyopharm Therapeutics, Inc.*      6,333,076 
- 2 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Portfolio Investments (Unaudited) (continued)

 

Shares         March 31, 2020
Fair Value
  Common Stock – (continued)        
  United States – (continued)        
   Medical - Biomedical / Genetics (continued)        
 113,402   Magenta Therapeutics, Inc.*     $712,165 
 83,544   Stemline Therapeutics, Inc.*      404,353 
 80,599   Turning Point Therapeutics, Inc.*      3,599,551 
 281,278   Ultragenyx Pharmaceutical, Inc.*  (a)   12,497,182 
            95,208,754 
   Medical - Drugs – 0.33%        
 99,285   Passage Bio, Inc.*      1,563,739 
 271,683   TG Therapeutics, Inc.*      2,673,361 
 139,709   Tricida, Inc.*      3,073,598 
            7,310,698 
   REITs - Diversified – 3.76%        
 176,989   American Tower Corp.      38,539,355 
 71,964   Equinix, Inc.      44,946,555 
            83,485,910 
   Retail - Discount – 0.24%        
 35,418   Dollar General Corp.      5,348,472 
   Retail - Major Department Store – 0.19%        
 88,544   The TJX Cos., Inc.      4,233,289 
   Retail - Restaurants – 2.22%        
 50,655   Chipotle Mexican Grill, Inc.*  (a)   33,148,632 
 237,555   Yum! Brands, Inc.      16,279,644 
            49,428,276 
   Semiconductor Components - Integrated Circuits – 1.26%        
 312,166   Analog Devices, Inc.  (a)   27,985,682 
   Semiconductor Equipment – 4.29%        
 296,902   Applied Materials, Inc.      13,604,050 
 171,163   KLA Corp.  (a)   24,602,970 
 121,593   Lam Research Corp.  (a)   29,182,320 
 515,102   Teradyne, Inc.  (a)   27,903,075 
            95,292,415 
   Therapeutics – 0.15%        
 93,303   Agios Pharmaceuticals, Inc.*      3,310,390 
   Total United States (Cost $1,341,370,615)     $1,746,794,303 
            
  Argentina – 1.62%        
   E-Commerce / Services – 1.62%        
 73,439   MercadoLibre, Inc.*      35,880,827 
   Total Argentina (Cost $34,828,963)     $35,880,827 
            
  Brazil – 0.14%        
   Investment Management / Advisory Services – 0.14%        
 159,058   XP, Inc.,Class A*      3,068,229 
   Total Brazil (Cost $4,274,142)     $3,068,229 
- 3 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Portfolio Investments (Unaudited) (continued)

 

Shares         March 31, 2020
Fair Value
  Common Stock – (continued)        
  Canada – 1.98%        
   Retail - Restaurants – 0.42%        
 230,486   Restaurant Brands International, Inc.  (a)  $9,226,355 
   Web Hosting / Design – 1.56%        
 83,261   Shopify, Inc., Class A*      34,714,009 
   Total Canada (Cost $43,394,386)     $43,940,364 
              
  China – 9.39%        
   E-Commerce / Products – 5.07%        
 168,802   Alibaba Group Holding, Ltd. - Sponsored ADR*      32,828,613 
 1,223,189   JD.com, Inc. - Sponsored ADR*      49,539,154 
 2,496,000   Meituan Dianping, Class B*      30,157,840 
            112,525,607 
   Entertainment Software – 0.66%        
 261,337   Bilibili, Inc. - Sponsored ADR*      6,120,513 
 26,563   NetEase, Inc. - Sponsored ADR      8,525,660 
            14,646,173 
   Internet Content - Entertainment – 0.38%        
 157,597   JOYY, Inc. - Sponsored ADR*      8,393,616 
   Internet Content - Information / Networks – 1.91%        
 863,800   Tencent Holdings, Ltd.      42,371,436 
   Schools – 1.37%        
 281,739   New Oriental Education & Technology Group, Inc. - Sponsored ADR*      30,495,429 
   Total China (Cost $159,882,018)     $208,432,261 
              
  France – 2.17%        
   Aerospace / Defense - Equipment – 1.71%        
 294,159   Airbus SE      19,152,932 
 214,269   Safran SA      18,841,448 
            37,994,380 
   Entertainment Software – 0.46%        
 139,778   UBISOFT Entertainment SA*      10,303,491 
   Total France (Cost $71,731,865)     $48,297,871 
              
  Germany – 1.89%        
   Aerospace / Defense – 0.51%        
 77,020   MTU Aero Engines AG      11,269,434 
   Athletic Footwear – 1.38%        
 135,518   adidas AG      30,616,738 
   Total Germany (Cost $52,524,767)     $41,886,172 
- 4 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Portfolio Investments (Unaudited) (concluded)

 

Shares          March 31, 2020
Fair Value
  Common Stock – (continued)         
  Japan – 4.62%         
   Audio / Video Products – 2.15%         
 1,363,200   Panasonic Corp.      $10,417,674 
 627,900   Sony Corp.       37,346,542 
             47,764,216 
   Cosmetics & Toiletries – 0.27%         
 102,400   Shiseido Co., Ltd.       6,053,604 
   Finance - Other Services – 1.06%         
 1,330,278   Japan Exchange Group, Inc.       23,486,729 
   Metal Products - Distribution – 0.39%         
 395,853   MISUMI Group, Inc.       8,635,393 
   Web Portals / ISP – 0.75%         
 5,178,903   Z Holdings Corp.       16,694,532 
   Total Japan (Cost $97,385,282)      $102,634,474 
               
  Netherlands – 1.49%         
   Semiconductor Components - Integrated Circuits – 0.32%         
 86,099   NXP Semiconductor NV       7,140,190 
   Semiconductor Equipment – 1.17%         
 99,081   ASML Holding NV       25,923,553 
   Total Netherlands (Cost $32,176,207)      $33,063,743 
               
  Singapore – 1.45%         
   Entertainment Software – 1.45%         
 726,208   Sea, Ltd. - Sponsored ADR*       32,178,276 
   Total Singapore (Cost $19,928,555)      $32,178,276 
               
  Taiwan – 0.68%         
   Semiconductor Components - Integrated Circuits – 0.68%         
 314,535   Taiwan Semiconductor Manufacturing Co., Ltd. - Sponsored ADR       15,031,628 
   Total Taiwan (Cost $15,529,351)      $15,031,628 
   Total Common Stock (Cost $1,873,026,151)      $2,311,208,148 
   Total Investments in Securities (Cost $1,873,026,151) - 104.10%      $2,311,208,148 
   Total Purchased Options (Cost $218,596,513) - 7.93%       175,952,320 
   Total Securities Sold, Not Yet Purchased
(Proceeds $969,948,342) - (31.85)%		       (707,043,789)
   Total Written Options (Proceeds $9,127,533) - (0.25)%       (5,462,361)
   Total Assets, in Excess of Liablities - 20.07%**       445,544,398 
   Members’ Capital - 100%      $2,220,198,716 
   
(a) Partially or wholly held in a pledged account with the Custodian, the assets of which are pledged as collateral for securities
  sold, not yet purchased.
* Non-income producing security.
** Includes $101,851,465 invested in a U.S. Dollar Cash Reserve Account at the Bank of New York Mellon (the “Custodian”), which is 4.59% of Members’ Capital, and foreign currency with a U.S. Dollar value of $14,302,739 held in a Foreign Cash Account with the Custodian, which is 0.64% of Members’ Capital. $94,714,208 of those amounts is held as restricted cash in a segregated account with the Custodian, primarily as collateral for swap contracts.
ADR American Depository Receipt
ETF Exchange-Traded Fund
REIT Real Estate Investment Trust
- 5 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Purchased Options (Unaudited)

 

Notional
Amount (USD)		   Contracts   Expiration
Date
Strike Price		     March 31, 2020
Fair Value		 
             Purchased Options – 7.93%     
             Equity Options – 7.88%     
             Equity Call Options – 1.42%     
             United States – 1.35%     
             Aerospace / Defense - Equipment - 0.01%     
$24,794,000    1,771   8/21/2020
$140		  United Technologies Corp.  $230,230 
             Medical Drugs - 0.05%     
 32,689,500    2,109   5/15/2020
$155		  salesforce.com, Inc.   1,054,500 
             Auto-Cars / Light Trucks - 0.02%     
 26,555,000    26,555   1/15/2021
$10		  Ford Motor Co.   318,660 
             Beverages - Non-Alcoholic - 0.01%     
 29,799,000    5,676   6/19/2020
$52.50		  The Coca-Cola Co.   255,420 
             Commercial Services  - Finance - 0.01%     
 28,232,000    3,529   6/19/2020
$80		  Square, Inc.   144,689 
             Consumer Products - Miscellaneous - 0.01%     
 27,550,000    1,900   4/17/2020
$145		  Kimberly-Clark Corp.   171,000 
             Cosmetics & Toiletries - 0.18%     
 67,260,000    5,605   1/15/2021
$120		  The Procter & Gamble Co.   4,029,995 
             Diversified Manufacturing Operations - 0.02%     
 11,352,000    9,460   6/19/2020
$12		  General Electric Co.   85,140 
 21,393,600    17,828   8/21/2020
$12		  General Electric Co.   392,216 
                 477,356 
             E-Commerce / Products - 0.29%     
 31,860,000    177   5/15/2020
$1,800		  Amazon.com, Inc.   3,745,674 
 29,830,000    157   6/19/2020
$1,900		  Amazon.com, Inc.   2,637,600 
                 6,383,274 
             E-Commerce / Services - 0.00%     
 9,730,000    1,946   7/17/2020
$50		  Lyft, Inc., Class A   35,028 
             Electronic Components - Semiconductors - 0.09%     
 7,969,500    1,771   4/17/2020
$45		  Intel Corp.   2,026,024 
             Finance Services - 0.02%     
 47,811,600    17,708   9/30/2020
$27		  Financial Select Sector SPDR Fund   531,240 

- 6 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Purchased Options (Unaudited) (continued)

 

Notional
Amount (USD)		   Contracts   Expiration
Date
Strike Price		     March 31, 2020
Fair Value		 
             Purchased Options – (continued)     
             Equity Options – (continued)     
             Equity Call Options – (continued)     
             United States – (continued)     
             Food-Miscellaneolus / Diversified - 0.03%     
$7,504,000    938   8/21/2020
$80		  Beyond Meat, Inc.  $717,570 
             Internet Content - Entertainment - 0.60%     
 41,354,000    1,426   6/19/2020
$290		  Netflix, Inc.   13,354,490 
             Medical-Biomedical / Genetics - 0.00%     
 28,150,000    1,126   6/19/2020
$250		  Amgen, Inc.   56,300 
             Retail-Building Products - 0.01%     
 37,320,000    3,732   4/17/2020
$100		  Lowe’s Cos., Inc.   205,260 
             Total United States (Cost $53,322,793)  $29,991,036 
                   
             Argentina - 0.01%     
             E-Commerce /Services - 0.01%     
 9,454,000    163   6/19/2020
$580		  MercadoLibre, Inc.   309,700 
             Total Argentina (Cost $2,102,785)  $309,700 
                   
             Brazil - 0.05%     
             Advertising Services - 0.05%     
 50,625,000    1,875   7/17/2020
$270		  The Trade Desk, Inc., Class A   1,106,250 
             Commercial Services - Finance - 0.00%     
 7,965,000    1,770   6/19/2020
$45		  StoneCo, Ltd., Class A   19,470 
             Total Brazil (Cost $7,652,989)  $1,125,720 
                   
             Canada - 0.01%     
             Medical - Drugs - 0.01%     
 4,710,000    1,884   6/19/2020
$25		  Canopy Growth Corp.   84,780 
 5,181,000    1,884   6/19/2020
$27.50		  Canopy Growth Corp.   54,636 
             Total Canada (Cost $772,586)  $139,416 
             Total Equity Call Options ($63,851,153)  $31,565,872 
                   
             Equity Put Options - 6.46%     
             United States - 6.36%     
             Growth & Income - Large Cap - 6.36%     
 415,200,000    17,300   9/18/2020
$240		  SPDR S&P 500 ETF Trust   32,870,000 
 1,028,820,000    39,570   10/16/2020
$260		  SPDR S&P 500 ETF Trust   108,421,800 
                 141,291,800 
             Total United States (Cost $152,497,916)  $141,291,800 

- 7 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Purchased Options (Unaudited) (concluded)

 

Notional
Amount (USD)		   Contracts   Expiration Date
Strike Price		     March 31, 2020
Fair Value		 
             Purchased Options – (continued)     
             Equity Options – (continued)     
             Equity Put Options – (continued)     
             China - 0.10%     
             Internet Content - Entertainment - 0.10%     
$7,060,000    1,412   4/17/2020
$50		  Weibo Corp.  $2,132,120 
             Total China (Cost $1,324,511)  $2,132,120 
             Total Equity Put Options ($153,822,427)  $143,423,920 
             Total Equity Options ($217,673,580)  $174,989,792 
                   
             Currency Put Options - 0.05%     
             United States - 0.05%     
 9,629,523    133,743,372   6/19/2020
$7.20		  USD-CNH  $962,528 
             Total United States (Cost $922,933)  $962,528 
             Total Currency Put Options (Cost $922,933)  $962,528 
             Total Purchased Options (Cost $218,596,513)  $175,952,320 

- 8 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Securities Sold, Not Yet Purchased (Unaudited)

 

Shares      March 31, 2020
Fair Value
   Securities Sold, Not Yet Purchased – 31.85%     
   Common Stock – 31.85%     
   United States – 22.54%     
   Advertising Agencies – 0.61%     
 201,270   Omnicom Group, Inc.  $11,049,723 
 157,575   The Interpublic Group of Cos., Inc.   2,551,139 
         13,600,862 
   Advertising Services – 0.40%     
 45,775   The Trade Desk, Inc., Class A*   8,834,575 
   Apparel Manufacturers – 0.34%     
 732,227   Hanesbrands, Inc.   5,762,627 
 138,700   Tapestry, Inc.*   1,796,165 
         7,558,792 
   Auto - Cars / Light Trucks – 0.05%     
 236,837   Ford Motor Co.   1,143,923 
   Commercial Services - Finance – 0.15%     
 232,631   H&R Block, Inc.   3,275,444 
   Computer Data Security – 0.22%     
 57,159   Qualys, Inc.*   4,972,261 
   Computer Software – 0.78%     
 211,576   Teradata Corp.*   4,335,192 
 146,012   Twilio, Inc., Class A*   13,066,614 
         17,401,806 
   Diversified Banking Institution – 3.23%     
 1,384,512   Bank of America Corp.   29,393,190 
 159,380   JPMorgan Chase & Co.   14,348,981 
 318,758   Morgan Stanley   10,837,772 
 110,680   The Goldman Sachs Group, Inc.   17,110,021 
         71,689,964 
   E-Commerce / Services – 0.09%     
 71,347   Cargurus, Inc.*   1,351,312 
 33,741   TripAdvisor, Inc.*   586,756 
         1,938,068 
   Electronic Components - Semiconductors – 2.77%     
 616,184   Texas Instruments, Inc.   61,575,267 
   Enterprise Software / Services – 0.72%     
 71,348   Appian Corp.*   2,870,330 
 124,858   New Relic, Inc.*   5,773,434 
 150,083   Oracle Corp.   7,253,511 
         15,897,275 
   Finance - Credit Card – 0.58%     
 712,948   The Western Union Co.   12,925,747 
   Financial Services – 3.32%     
 3,541,753   Financial Select Sector SPDR Fund   73,739,298 
   Food - Miscellaneous / Diversified – 0.11%     
 36,904   Beyond Meat, Inc.*   2,457,806 
   Footwear & Related Apparel – 0.07%     
 95,345   Wolverine World Wide, Inc.   1,449,244 
   Health & Biotechnology – 0.52%     
 106,964   iShares Nasdaq Biotechnology ETF   11,524,301 
- 9 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Securities Sold, Not Yet Purchased (Unaudited) (continued)

 

Shares      March 31, 2020
Fair Value
   Common Stock – (continued)     
   United States – (continued)     
   Human Resources – 0.13%     
 76,456   Robert Half International, Inc.  $2,886,214 
   Internet Content - Entertainment – 0.74%     
 43,934   Netflix, Inc.*   16,497,217 
   Internet Security – 0.32%     
 43,940   Palo Alto Networks, Inc.*   7,204,402 
   Investment Management / Advisory Services – 0.65%     
 300,275   Franklin Resources, Inc.    5,011,590  
 276,235   Invesco, Ltd.   2,508,214 
 70,814   T Rowe Price Group, Inc.   6,914,987 
         14,434,791 
   Motorcycle / Motor Scooter – 0.19%     
 220,984   Harley-Davidson, Inc.   4,183,227 
   Real Estate Management / Services – 0.05%     
 370,868   Realogy Holdings Corp.   1,116,313 
   REITs - Diversified – 0.27%     
 166,321   Vornado Realty Trust   6,022,484 
   REITs - Health Care – 0.29%     
 171,933   Healthpeak Properties, Inc.   4,100,602 
 88,623   Ventas, Inc.   2,375,097 
         6,475,699 
   REITs - Office Property – 0.60%     
 77,845   Boston Properties, Inc.   7,179,644 
 141,839   SL Green Realty Corp.   6,113,261 
         13,292,905 
   REITs - Regional Malls – 0.21%     
 85,329   Simon Property Group, Inc.   4,681,149 
   REITs - Shopping Centers – 0.63%     
 78,338   Federal Realty Investment Trust   5,844,798 
 377,903   Kimco Realty Corp.   3,654,322 
 118,184   Regency Centers Corp.   4,541,811 
         14,040,931 
   REITs - Storage – 0.97%     
 73,131   Extra Space Storage, Inc.   7,003,025 
 73,443   Public Storage   14,586,514 
         21,589,539 
   Retail - Apparel / Shoes – 0.46%     
 249,716   Abercrombie & Fitch Co., Class A   2,269,918 
 26,930   Ascena Retail Group, Inc.*   37,433 
 163,579   Chico’s FAS, Inc.   211,017 
 107,022   Foot Locker, Inc.   2,359,835 
 221,835   Tailored Brands, Inc.   385,993 
 44,736   The Children’s Place, Inc.   875,036 
 580,094   The Gap, Inc.    4,083,862  
         10,223,094 
   Retail - Arts & Crafts – 0.02%     
 316,572   The Michaels Cos., Inc.*   512,847 
   Retail - Bedding – 0.02%     
 121,794   Bed Bath & Beyond, Inc.   512,753 
   Retail - Home Furnishings – 0.09%     
 96,706   La-Z-Boy, Inc.   1,987,308 
   Retail - Major Department Store – 0.33%     
 474,398   Nordstrom, Inc.   7,277,265 
- 10 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Securities Sold, Not Yet Purchased (Unaudited) (continued)

 

Shares      March 31, 2020
Fair Value
   Common Stock – (continued)     
   United States – (continued)     
   Retail - Miscellaneous / Diversified – 0.17%     
 454,623   Sally Beauty Holdings, Inc.*  $3,673,354 
   Retail - Perfume & Cosmetics – 0.16%     
 19,773   Ulta Beauty, Inc.*   3,474,116 
   Retail - Regional Department Stores – 0.53%     
 87,082   Dillard’s, Inc., Class A   3,217,680 
 464,716   Kohl’s Corp.   6,780,207 
 350,730   Macy’s, Inc.*   1,722,084 
         11,719,971 
   Retail - Restaurants – 0.12%     
 153,257   The Cheesecake Factory, Inc.   2,617,630 
   Sector Fund - Technology – 0.30%     
 56,668   Vaneck Vectors Semiconductor ETF   6,638,090 
   Semiconductor Components - Integrated Circuits – 0.16%     
 71,848   Maxim Integrated Products, Inc.   3,492,531 
   Transport - Services – 1.17%     
 80,840   C.H. Robinson Worldwide, Inc.   5,351,608 
 53,000   FedEx Corp.   6,426,780 
 150,655   United Parcel Service, Inc., Class B   14,074,190 
        25,852,578 
   Total United States (Proceeds $698,686,545)  $500,391,041 
           
   Australia – 0.27%     
   Enterprise Software / Services – 0.27%     
 44,356   Atlassian Corp. PLC, Class A   6,088,305 
   Total Australia (Proceeds $5,705,837)  $6,088,305 
           
   Brazil – 0.83%     
   Commercial Services - Finance – 0.24%     
 246,587   StoneCo, Ltd., Class A*   5,368,199 
   Finance - Credit Card – 0.59%     
 676,847   Pagseguro Digital, Ltd., Class A*   13,083,452 
   Total Brazil (Proceeds $31,775,658)  $18,451,651 
           
   Canada – 0.63%     
   Commercial Banks - Non U.S. – 0.38%     
 146,100   Canadian Imperial Bank of Commerce   8,416,904 
   Medical - Drugs – 0.25%     
 387,522   Canopy Growth Corp.*   5,586,553 
   Total Canada (Proceeds $26,074,811)  $14,003,457 
           
   China – 0.87%     
   Entertainment Software – 0.18%     
 238,494   HUYA, Inc. - Sponsored ADR*   4,042,473 
   Metal Aluminum – 0.05%     
 4,170,000   China Zhongwang Holdings, Ltd.   1,097,524 
   Web Hosting / Design – 0.25%     
 197,536   Baozun, Inc.- Sponsored ADR*   5,519,156 
   Wireless Equipment – 0.39%     
 6,340,200   Xiaomi Corp., Class B*   8,539,871 
   Total China (Proceeds $22,126,798)  $19,199,024 
- 11 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Securities Sold, Not Yet Purchased (Unaudited) (continued)

 

Shares      March 31, 2020
Fair Value
   Common Stock – (continued)     
   France – 0.26%     
   Advertising Services – 0.26%     
 204,126   Publicis Groupe SA  $5,850,286 
   Total France (Proceeds $12,169,324)  $5,850,286 
           
   Germany – 1.25%     
   Auto - Cars / Light Trucks – 1.25%     
 263,374   Bayerische Motoren Werke AG   13,615,628 
 465,810   Daimler AG   14,065,748 
         27,681,376 
   Total Germany (Proceeds $34,801,144)  $27,681,376 
           
   Hong Kong – 1.62%     
   Commercial Banks - Non U.S. – 0.69%     
 899,600   Hang Seng Bank, Ltd.   15,378,472 
   Electric - Integrated – 0.56%     
 357,500   CLP Holdings, Ltd.   3,297,843 
 1,531,000   Power Assets Holdings, Ltd.   9,155,305 
         12,453,148 
   Gas - Distribution – 0.37%     
 4,952,514   Hong Kong & China Gas Co., Ltd.   8,165,907 
   Total Hong Kong (Proceeds $40,265,097)  $35,997,527 
           
   Israel – 1.03%     
   Computer Data Security – 1.03%     
 227,842   Check Point Software Technologies, Ltd.*   22,907,235 
   Total Israel (Proceeds $27,102,602)  $22,907,235 
           
   Japan – 2.41%     
   Advertising Services – 0.03%     
 31,100   Dentsu Group, Inc.   601,229 
   Electric - Integrated – 0.05%     
 75,000   Chubu Electric Power Co., Inc.   1,059,122 
   Gas - Distribution – 0.14%     
 134,200   Tokyo Gas Co., Ltd.   3,177,391 
   Office Automation & Equipment – 1.14%     
 1,095,400   Canon, Inc.   23,936,349 
 125,800   Seiko Epson Corp.   1,363,402 
        25,299,751 
   Retail - Apparel / Shoes – 0.39%     
 21,300   Fast Retailing Co., Ltd.   8,718,883 
   Semiconductor Equipment – 0.66%     
 75,000   Advantest Corp.   3,015,145 
 61,400   Tokyo Electron, Ltd.   11,577,018 
         14,592,163 
   Total Japan (Proceeds $67,419,645)  $53,448,539 
- 12 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Securities Sold, Not Yet Purchased (Unaudited) (concluded)

 

Shares      March 31, 2020
Fair Value
   United Kingdom – 0.14%     
   Diversified Banking Institution. – 0.14%     
 531,125   HSBC Holdings PLC  $3,025,348 
   Total United Kingdom (Proceeds $3,820,881)  $3,025,348 
   Total Securities Sold, Not Yet Purchased (Proceeds $969,948,342) $707,043,789 

 

* Non-income producing security.
ADR American Depository Receipt
ETF Exchange-Traded Fimd
REIT Real Estate Investment Trust
- 13 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Written Options (Unaudited)

 

Notional Amount (USD)   Contracts   Expiration
Date
Strike Price		      March 31, 2020
Fair Value
           Written Options – 0.25%     
           Equity Options – 0.25%     
           Equity Call Options – 0.25%     
           United States – 0.25%     
           Sector Fimd - Technology - 0.25%     
          6/19/2020        
$(1,295,382)   6,198   $209  Invesco QQQ Trust Series 1  $3,576,246 
          5/15/2020        
 (407,330)   1,771   $230  iShares Expanded Tech-Software Sector ETF   974,050 
          6/19/2020        
 (233,772)   1,771   $132  VanEck Vectors Semiconductor ETF   912,065 
                 5,462,361 
           Total United States (Proceeds $9,127,533)  $5,462,361 
           Total Equity Call Options (Proceeds - $9,127,533)  $5,462,361 
           Total Equity Options (Proceeds - $9,127,533)  $5,462,361 
           Total Written Options (Proceeds - $9,127,533)  $5,462,361 
- 14 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
Gain ***
    Swap Contracts - 2.62%    
    Total Return Swap Contracts - Unrealized Gain - 3.58%    
    United States – 1.16%    
    Private Equity - 0.07%    
$19,520,482   6/3/2024  The Carlyle Group, Inc.  $1,443,805 
        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 0.75%**.     
              
     Web Portals / ISP - 1.09%     
 40,335,023   6/3/2024  Alphabet, Inc., Class A   24,273,004 
        Agreement with Morgan Stanley, dated 07/08/2011 to receive 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  $25,716,809 
           
     Australia - 0.78%     
     Commercial Banks - Non-US - 0.78%     
 (12,813,730)  12/27/2024  Australia and New Zealand Banking Group, Ltd.   4,897,265 
        Agreement with Morgan Stanley, dated 08/26/2015 to deliver the total return of the shares of Australia and New Zealand Banking Group, Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**.     
              
 (8,927,610)  12/27/2024  Bank of Queensland, Ltd.   4,684,978 
        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 0.88%**.     
              
 (18,780,668)  12/27/2024  Commonwealth Bank of Australia   2,701,410 
        Agreement with Morgan Stanley, dated 02/24/2016 to deliver the total return of the shares of Commonwealth Bank of Australia in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**.     
              
 (11,423,496)  12/27/2024  Westpac Banking Corp.   5,183,333 
        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  $17,466,986 
           
     Belgium – 0.08%     
     Medical Drugs - 0.08%     
 3,915,755   1/4/2024  Galapagos NV - Sponsored ADR   1,782,848 
        Agreement with Morgan Stanley, dated 04/03/2019 to receive the total return of the shares of Galapagos NV - Sponsored ADR in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.65%**.     
              
     Total Belgium  $1,782,848 
- 15 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited) (continued)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
Gain ***
     Swap Contracts - (continued)     
     Total Return Swap Contracts - Unrealized Gain - (continued)     
     Brazil – 0.13%     
     Commercial Services / Finance - 0.13%     
$(4,622,849)  2/2/2021  Cielo SA  $2,851,246 
        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 5.88%**.     
              
     Total Brazil  $2,851,246 
           
     Japan - 0.12%     
    Electric Products - Miscellaneous - 0.01%     
 (2,412,861)  12/24/2024  Casio Computer Co., Ltd.   146,426 
        Agreement with Morgan Stanley, dated 05/15/2009 to deliver the total return of the shares of Casio Computer Co., Ltd. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**.     
              
     Electric - Integrated - 0.01%     
 (1,122,315)  12/24/2024  Tokyo Electric Power Co. Holdings, Inc.   267,086 
        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%**.     
              
     Office Automation & Equipment - 0.09%     
 (968,204)  12/24/2024  Canon, Inc.   6,733 
        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%**.     
              
              
 (1,159,529)  12/24/2024  Konica Minolta, Inc.   454,628 
        Agreement with Morgan Stanley, dated 04/13/2011 to deliver the total return of the shares of Konica Minolta, Inc. in exchange for interest based on the Daily Fed Funds Effective Rate less 1.13%**.     
              
 (9,579,634)  12/24/2024  Ricoh Co., Ltd.   1,580,409 
        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%**.     
            2,041,770 
              
     Photo Equipment & Supplies - 0.01%     
 (701,371)  12/24/2024  Nikon Corp.   228,434 
        Agreement with Morgan Stanley, dated 10/29/2013 to deliver the total return of the shares of Nikon Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 0.40%**.     
              
     Total Japan  $2,683,716 
- 16 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited) (continued)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
Gain ***
     Swap Contracts - (continued)     
     Total Return Swap Contracts - Unrealized Gain - (continued)     
     South Korea – 0.09%     
     Electronic Components - Semiconductors - 0.09%     
$10,337,808   12/29/2023  Samsung Electronics Co., Ltd.  $2,054,124 
        Agreement with Morgan Stanley, dated 12/23/2009 to receive the total return of the shares of Samsung Electronics Co., Ltd .in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.90%**.     
              
     Total South Korea  $2,054,124 
           
     Spain – 0.66%     
     Building - Heavy Construction - 0.65%     
 9,694,543   1/4/2024  Cellnex Telecom SA   14,522,469 
        Agreement with Morgan Stanley, dated 05/06/2015 to receive 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%**.     
           
     Food - Retail - 0.01%     
 (202,836)  1/4/2024  Distribuidora Internacional de Alimentacion SA   148,314 
        Agreement with Morgan Stanley, dated 09/29/2014 to deliver the total return of the shares of Distribuidora Internacional de Alimentacion SA in exchange for interest based on the Daily Fed Funds Effective Rate less 5.88%**.     
              
     Total Spain  $14,670,783 
           
     Switzerland - 0.04%     
     Enterprise Software - Services - 0.04%     
 (6,193,966)  12/14/2023  Temenos AG   773,254 
        Agreement with Morgan Stanley, dated 10/17/2019 to deliver the total return of the shares of Temenos AG in exchange for interest based on the Daily Fed Funds Effective Rate less 0.35%**.     
           
     Total Switzerland  $773,254 
           
     Taiwan – 0.23%     
     Computers - Peripheral Equipment - 0.15%     
 (6,772,922)  1/25/2024  Innolux Display Corp.   3,298,112 
        Agreement with Morgan Stanley, dated 03/18/2010 to deliver the total return of the shares of Innolux Display Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 2.13%**.     
              
     Electronic Components - Miscellaneous - 0.08%     
 (7,278,797)  1/25/2024  AU Optronics Corp.   1,880,331 
        Agreement with Morgan Stanley, dated 07/26/2012 to deliver the total return of the shares of AU Optronics Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 2.75%**.     
              
     Total Taiwan  $5,178,443 
- 17 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited) (continued)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
Gain ***
      Swap Contracts - (continued)     
     Total Return Swap Contracts - Unrealized Gain - (continued)     
      United Kingdom – 0.29%     
      Retail - Apparel / Shoes - 0.04%     
$(3,756,274)  12/14/2023  Next PLC  $998,777 
        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%**.     
              
     Retail - Major Department Store - 0.25%     
 (8,327,037)  12/14/2023  Marks & Spencer Group PLC   5,373,162 
        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%**.     
              
     Total United Kingdom  $6,371,939 
     Total Return Swap Contracts - Unrealized Gain****  $79,550,148 
- 18 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited) (continued)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
(Loss) ***
     Swap Contracts - (continued)     
     Total Return Swap Contracts - Unrealized Loss - (0.96%)     
     United States - (0.17%)     
     Private Equity - (0.17%)     
$31,004,953   6/3/2024  KKR & Co., Inc., Class A  $(3,850,076)
        Agreement with Morgan Stanley, dated 01/09/2017 to receive the total return of the shares of KKR & Co., Inc., Class A in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.51%**.     
              
     Total United States  $(3,850,076)
           
     Brazil – (0.68%)     
     Finance - Other Services - (0.54%)     
 39,746,049   2/2/2021  B3 SA-Brasil Bolsa Balcao   (11,989,079)
        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 - (0.14%)     
 23,579,995   2/2/2021  Magazine Luiza SA   (3,016,127)
        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  $(15,005,206)
           
     Taiwan – (0.04%)     
     Semiconductor Components - Integrated Circuits - (0.04%)     
 (3,761,893)  1/25/2024  United Microelectronics Corp.   (893,774)
        Agreement with Morgan Stanley, dated 08/08/2013 to deliver the total return of the shares of United Microelectronics Corp. in exchange for interest based on the Daily Fed Funds Effective Rate less 1.13%**.     
              
     Total Taiwan  $(893,774)
           
     United Kingdom – (0.07%)     
     Diversified Banking Institutions - (0.00%)     
 (6,371,572)  12/14/2023  HSBC Holdings PLC   (59,785)
        Agreement with Morgan Stanley, dated 03/12/2020 to deliver the total return of the shares of HSBC Holdings PLC in exchange for interest based on the Daily Fed Funds Effective Rate less 0.30%**.     
- 19 -

Advantage Advisers Xanthus Fund, L.L.C.

 

Schedule of Swap Contracts (Unaudited) (concluded)

 

Notional
Amount		  Maturity
Date*		     March 31, 2020
Unrealized
(Loss) ***
     Swap Contracts - (continued)     
     Total Return Swap Contracts - Unrealized Loss - (continued)     
     United Kingdom – (continued)     
     Enterprise Software/Services - (0.07%)     
$4,716,799   12/14/2023  Aveva Group PLC  $(1,663,600)
        Agreement with Morgan Stanley, dated 01/21/2020 to deliver the total return of the shares of Aveva Group PLC in exchange for interest based on the Daily Fed Funds Effective Rate plus 0.65%**.     
              
     Total United Kingdom  $(1,723,385)
     Total Return Swap Contracts - Unrealized Loss*****  $(21,472,441)
     Total Swap Contracts, net  $58,077,707 

 

 

 

  *   Per the terms of the executted 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 31,2020.
  ***   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.
- 20 -

The following is a summary of the inputs used, as of March 31, 2020, in valuing the Company’s investments at fair value

 

Assets:      Liabilities:    
Valuation Inputs       Valuation Inputs     
Level 1 - Quoted Prices       Level 1 - Quoted Prices     
Investments in Securities       Securities Sold, Not Yet Purchased     
Common Stock  $2,311,208,148   Common Stock  $707,043,789 
Equity Options   174,989,792   Equity Options   5,462,361 
              
Level 2 - Other Significant       Level 2 - Other Significant     
Observable Inputs       Observable Inputs     
Total Return Swaps   79,550,148   Total Return Swaps   21,472,441 
Currency Options   962,528   Currency Options   - 
              
Level 3 - Other Significant       Level 3 - Other Significant     
Unobservable Inputs   -   Unobservable Inputs   - 
              
Total  $2,566,710,616   Total  $733,978,591 
- 21 -