Subject says it. With none, Xeno holds 28 rounds. With one MGR mod, it holds 32. With two, it holds 28. That's pretty CS. Before this season you could run a heavy ammo reserves and a machine gun reserves and get it to hold 34 (i.e., it worked the way you'd expect it to). Now it's either bugged or stupidly sabotaged. Not sure which I care to believe. Character is a Titan, BTW.
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Allo there, Bungie are currently investigating this.