# Capricorn Fund Managers Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1901361. Source: https://holderbook.com/funds/1901361-capricorn-fund-managers-ltd/

- Reported value: $1.3B
- Positions: 178
- Weight of the ten largest: 27.0%
- Filed: 2026-07-24

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| LPL FINL HLDGS INC | [LPLA](https://holderbook.com/stocks/LPLA/) | $54.9M | 194,812 | 4.3% | 1 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $42.2M | 460,100 | 3.3% | 2 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $36.4M | 984,203 | 2.9% | 1 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $35.6M | 459,200 | 2.8% | 1 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $31.6M | 61,276 | 2.5% | 1 |
| CARVANA CO | [CVNA](https://holderbook.com/stocks/CVNA/) | $31.3M | 475,000 | 2.5% | 2 |
| BOOST RUN INC | [BRUNW](https://holderbook.com/stocks/BRUNW/) | $29.1M | 750,000 | 2.3% | 1 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $28.2M | 900,000 | 2.2% | 1 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $26.9M | 435,252 | 2.1% | 2 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $26.1M | 457,455 | 2.1% | 4 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $25.3M | 1,570,000 | 2.0% | 1 |
| AFFILIATED MANAGERS GROUP | [AMG](https://holderbook.com/stocks/AMG/) | $23.4M | 69,045 | 1.8% | 1 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $22.4M | 426,416 | 1.8% | 1 |
| NRG ENERGY INC | [NRG](https://holderbook.com/stocks/NRG/) | $22.1M | 151,000 | 1.7% | 1 |
| AXOGEN INC | [AXGN](https://holderbook.com/stocks/AXGN/) | $21.5M | 464,863 | 1.7% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $21.1M | 44,200 | 1.7% | 1 |
| REDDIT INC | [RDDT](https://holderbook.com/stocks/RDDT/) | $20.8M | 120,000 | 1.6% | 1 |
| BLEND LABS INC | [BLND](https://holderbook.com/stocks/BLND/) | $19.3M | 11,314,649 | 1.5% | 2 |
| TRAVERE THERAPEUTICS INC | [TVTX](https://holderbook.com/stocks/TVTX/) | $18.3M | 321,721 | 1.4% | 1 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $17.9M | 47,500 | 1.4% | 1 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $17.7M | 155,300 | 1.4% | 2 |
| FACTSET RESH SYS INC | [FDS](https://holderbook.com/stocks/FDS/) | $17.1M | 74,500 | 1.4% | 1 |
| KAROOOOO LTD | [KARO](https://holderbook.com/stocks/KARO/) | $15.8M | 319,346 | 1.2% | 7 |
| SKINHEALTH SYSTEMS INC | [SKIN](https://holderbook.com/stocks/SKIN/) | $15.4M | 22,276,935 | 1.2% | 2 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $15.2M | 160,275 | 1.2% | 1 |
| KINGSWAY CORP | [KWY](https://holderbook.com/stocks/KWY/) | $14.7M | 1,410,526 | 1.2% | 2 |
| LIQUIDIA CORPORATION | [LQDA](https://holderbook.com/stocks/LQDA/) | $14.5M | 182,205 | 1.1% | 2 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $14.4M | 150,000 | 1.1% | 1 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $14.2M | 42,000 | 1.1% | 1 |
| SHARKNINJA INC | [SN](https://holderbook.com/stocks/SN/) | $13.4M | 88,000 | 1.1% | 2 |
| ZYMEWORKS INC | [ZYME](https://holderbook.com/stocks/ZYME/) | $12.7M | 486,529 | 1.0% | 3 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $12.7M | 80,000 | 1.0% | 1 |
| LIFTOFF MOBILE INC | [LFTO](https://holderbook.com/stocks/LFTO/) | $12.2M | 508,551 | 1.0% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $12.1M | 32,343 | 1.0% | 19 |
| MIRUM PHARMACEUTICALS INC | [MIRM](https://holderbook.com/stocks/MIRM/) | $11.9M | 101,240 | 0.9% | 1 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $11.2M | 22,468 | 0.9% | 18 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $11.1M | 31,067 | 0.9% | 12 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $10.6M | 44,648 | 0.8% | 5 |
| WPP PLC NEW | [WPP](https://holderbook.com/stocks/WPP/) | $10.5M | 676,000 | 0.8% | 1 |
| NATWEST GROUP PLC | [NWG](https://holderbook.com/stocks/NWG/) | $10.4M | 587,290 | 0.8% | 1 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $10.3M | 118,900 | 0.8% | 10 |
| AMER SPORTS INC | [AS](https://holderbook.com/stocks/AS/) | $10.2M | 300,000 | 0.8% | 7 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $10.1M | 50,586 | 0.8% | 1 |
| MAXCYTE INC | [MXCT](https://holderbook.com/stocks/MXCT/) | $10.1M | 8,200,000 | 0.8% | 2 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $10.0M | 120,000 | 0.8% | 1 |
| ENVISTA HOLDINGS CORPORATION | [NVST](https://holderbook.com/stocks/NVST/) | $8.4M | 319,028 | 0.7% | 2 |
| FERMI INC | [FRMI](https://holderbook.com/stocks/FRMI/) | $8.0M | 875,000 | 0.6% | 1 |
| FIVE BELOW INC | [FIVE](https://holderbook.com/stocks/FIVE/) | $7.6M | 42,500 | 0.6% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $7.6M | 13,500 | 0.6% | 12 |
| MOONLAKE IMMUNOTHERAPEUTICS | [MLTX](https://holderbook.com/stocks/MLTX/) | $7.3M | 374,866 | 0.6% | 1 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $7.3M | 5,710 | 0.6% | 1 |
| FLUTTER ENTMT PLC | [FLUT](https://holderbook.com/stocks/FLUT/) | $7.2M | 70,000 | 0.6% | 2 |
| CHARLES RIV LABS INTL INC | [CRL](https://holderbook.com/stocks/CRL/) | $7.1M | 31,274 | 0.6% | 1 |
| ON HLDG AG | [ONON](https://holderbook.com/stocks/ONON/) | $7.1M | 200,000 | 0.6% | 2 |
| APPLIED AEROSPACE & DEFENSE | [AADX](https://holderbook.com/stocks/AADX/) | $7.1M | 310,000 | 0.6% | 1 |
| SCHRODINGER INC | [SDGR](https://holderbook.com/stocks/SDGR/) | $7.1M | 434,321 | 0.6% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $7.1M | 20,555 | 0.6% | 17 |
| CYTOKINETICS INC | [CYTK](https://holderbook.com/stocks/CYTK/) | $7.0M | 81,879 | 0.5% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $6.9M | 27,397 | 0.5% | 2 |
| STANDARDAERO INC | [SARO](https://holderbook.com/stocks/SARO/) | $6.9M | 230,491 | 0.5% | 2 |
| THE REALREAL INC | [REAL](https://holderbook.com/stocks/REAL/) | $6.9M | 581,571 | 0.5% | 18 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $6.8M | 73,700 | 0.5% | 1 |
| LUXEXPERIENCE BV | [LUXE](https://holderbook.com/stocks/LUXE/) | $6.8M | 910,372 | 0.5% | 7 |
| BRINKER INTL INC | [EAT](https://holderbook.com/stocks/EAT/) | $6.7M | 40,000 | 0.5% | 2 |
| WEST PHARMACEUTICAL SVSC INC | [WST](https://holderbook.com/stocks/WST/) | $6.7M | 18,700 | 0.5% | 1 |
| BOOT BARN HLDGS INC | [BOOT](https://holderbook.com/stocks/BOOT/) | $6.7M | 40,500 | 0.5% | 1 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $6.1M | 42,000 | 0.5% | 2 |
| FLAGSTAR BANK NATIONAL ASSOC | [FLG](https://holderbook.com/stocks/FLG/) | $5.9M | 398,200 | 0.5% | 1 |
| LOAR HOLDINGS INC | [LOAR](https://holderbook.com/stocks/LOAR/) | $5.8M | 71,999 | 0.5% | 3 |
| BRIGHTSPRING HEALTH SVCS INC | [BTSG](https://holderbook.com/stocks/BTSG/) | $5.5M | 78,718 | 0.4% | 3 |
| DECKERS OUTDOOR CORP | [DECK](https://holderbook.com/stocks/DECK/) | $5.4M | 54,000 | 0.4% | 2 |
| PTC THERAPEUTICS INC | [PTCT](https://holderbook.com/stocks/PTCT/) | $5.2M | 63,900 | 0.4% | 1 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $5.2M | 51,179 | 0.4% | 1 |
| BRUKER CORP | [BRKR](https://holderbook.com/stocks/BRKR/) | $5.1M | 85,100 | 0.4% | 1 |
| LAZARD INC | [LAZ](https://holderbook.com/stocks/LAZ/) | $5.1M | 121,900 | 0.4% | 1 |
| HEALTHPEAK PROPERTIES INC | [DOC](https://holderbook.com/stocks/DOC/) | $4.9M | 228,200 | 0.4% | 1 |
| GUARDANT HEALTH INC | [GH](https://holderbook.com/stocks/GH/) | $4.8M | 31,775 | 0.4% | 1 |
| KODIAK GAS SVCS INC | [KGS](https://holderbook.com/stocks/KGS/) | $4.6M | 61,365 | 0.4% | 3 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $4.6M | 8,185 | 0.4% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.5M | 33,496 | 0.4% | 5 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $4.4M | 0 | 0.3% | 1 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $4.3M | 54,000 | 0.3% | 2 |
| LEVI STRAUSS & CO NEW | [LEVI](https://holderbook.com/stocks/LEVI/) | $4.2M | 168,700 | 0.3% | 2 |
| BURLINGTON STORES INC | [BURL](https://holderbook.com/stocks/BURL/) | $4.1M | 13,000 | 0.3% | 2 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $4.1M | 30,717 | 0.3% | 2 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.1M | 50,000 | 0.3% | 2 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $4.0M | 48,900 | 0.3% | 1 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $4.0M | 9,882 | 0.3% | 2 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $4.0M | 299,000 | 0.3% | 1 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $3.9M | 31,200 | 0.3% | 1 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $3.9M | 18,500 | 0.3% | 2 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $3.8M | 13,488 | 0.3% | 2 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $3.7M | 82,400 | 0.3% | 1 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $3.6M | 30,751 | 0.3% | 4 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $3.6M | 0 | 0.3% | 1 |
| FERMI INC | [FRMI](https://holderbook.com/stocks/FRMI/) | $3.5M | 0 | 0.3% | 1 |
| CEREBRAS SYSTEMS INC | [CBRS](https://holderbook.com/stocks/CBRS/) | $3.5M | 15,682 | 0.3% | 1 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $3.4M | 26,000 | 0.3% | 2 |
| ROBINHOOD MKTS INC | [HOOD](https://holderbook.com/stocks/HOOD/) | $3.4M | 33,700 | 0.3% | 2 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $3.4M | 7,926 | 0.3% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.6% | +14.8% | -3.2% | 98% |
| Q1 2026 | -7.0% | -4.6% | -2.4% | 93% |
| Q4 2025 | +5.8% | +2.4% | +3.4% | 98% |
| Q3 2025 | +13.1% | +7.8% | +5.2% | 99% |
| Q2 2025 | +5.3% | +10.5% | -5.1% | 100% |
| Q1 2025 | -9.2% | -4.6% | -4.7% | 100% |
| Q4 2024 | +6.5% | +2.1% | +4.4% | 100% |
| Q3 2024 | +3.7% | +5.4% | -1.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 178 |
| Q1 2026 | $641.4M | 114 |
| Q4 2025 | $414.9M | 82 |
| Q3 2025 | $297.8M | 59 |
| Q2 2025 | $211.6M | 54 |
| Q1 2025 | $187.1M | 49 |
| Q4 2024 | $224.7M | 65 |
| Q3 2024 | $148.5M | 53 |
| Q2 2024 | $141.8M | 55 |
| Q1 2024 | $166.1M | 56 |
| Q4 2023 | $181.8M | 55 |
| Q3 2023 | $288.2M | 82 |