Capricorn Fund Managers Ltd
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 24, 2026), Capricorn Fund Managers Ltd reported 167 stock positions worth $1.3 billion. Its top holding was LPL Financial (LPLA) at 4.4% of the portfolio, followed by KKR (KKR, 3.4%) and BP PLC-Spons ADR (BP, 2.9%). Compared with Q1 2026, it opened 94 new positions, sold out of 41, added to 29 and reduced 25. The biggest buy was a new position in LPL Financial (LPLA) and the biggest sale Zymeworks (ZYME, shares −52%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001901361
- Portfolio Value
- $1.3B (Q2 2026)
- SEC Filing
- 0001901361-26-000014 ↗ filed Jul 24, 2026
Holdings Value
Holdings 167 stocks · $1.3B
| LPLA LPL Financial Holdings Inc. | 4.39% | 194,812 | $54.9M | New |
| KKR KKR & Co. Inc. | 3.38% | 460,100 | $42.2M | Add +117.0% |
| BP BP PLC-Spons ADR | 2.91% | 984,203 | $36.4M | New |
| SHEL Shell PLC-ADR | 2.85% | 459,200 | $35.6M | New |
| APP AppLovin Corp. Class A | 2.52% | 61,276 | $31.6M | New |
| CVNA Carvana Co. | 2.50% | 475,000 | $31.3M | No change |
| BRUN Boost Run Inc. Class A | 2.33% | 750,000 | $29.1M | New |
| ING ING Groep N.V.-Sponsored ADR | 2.26% | 900,000 | $28.2M | New |
| BTI British American Tob-SP ADR | 2.15% | 435,252 | $26.9M | Add +196.1% |
| BAC Bank of America Corp. | 2.08% | 457,455 | $26.1M | Reduce -14.8% |
| BKD Brookdale Senior Living Inc. | 2.02% | 1,570,000 | $25.3M | New |
| AMG Affiliated Managers Group | 1.87% | 69,045 | $23.4M | New |
| GSK GSK PLC-Spon ADR | 1.79% | 426,416 | $22.4M | New |
| NRG NRG Energy Inc. | 1.76% | 151,000 | $22.1M | New |
| AXGN Axogen Inc. | 1.72% | 464,863 | $21.5M | Reduce -32.4% |
| TSM Taiwan Semiconductor-SP ADR | 1.69% | 44,200 | $21.1M | New |
| RDDT Reddit Inc. Class A | 1.67% | 120,000 | $20.8M | New |
| BLND Blend Labs Inc. Class A | 1.55% | 11,314,649 | $19.3M | Add +74.1% |
| TVTX Travere Therapeutics Inc. | 1.46% | 321,721 | $18.3M | New |
| AVGO Broadcom Inc. | 1.44% | 47,500 | $17.9M | New |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.41% | 155,300 | $17.7M | Add +86.0% |
| FDS Factset Research Systems Inc. | 1.37% | 74,500 | $17.1M | New |
| KARO Karooooo Ltd. | 1.26% | 319,346 | $15.8M | Add +14.7% |
| SKIN Skinhealth Systems Inc. | 1.23% | 22,276,935 | $15.4M | Add +14.8% |
| RIO Rio Tinto PLC-Spon ADR | 1.22% | 160,275 | $15.2M | New |
| KWY Kingsway Corp. | 1.18% | 1,410,526 | $14.7M | Reduce -21.0% |
| LQDA Liquidia Corp. | 1.16% | 182,205 | $14.5M | Reduce -26.4% |
| SE Sea Ltd.-ADR | 1.15% | 150,000 | $14.4M | New |
| ROP Roper Technologies Inc. | 1.14% | 42,000 | $14.2M | New |
| SN Sharkninja Inc. | 1.07% | 88,000 | $13.4M | Add +37.5% |
| ZYME Zymeworks Inc. | 1.02% | 486,529 | $12.7M | Reduce -51.7% |
| VST Vistra Corp. | 1.01% | 80,000 | $12.7M | New |
| LFTO Liftoff Mobile Inc. | 0.98% | 508,551 | $12.2M | New |
| MSFT Microsoft Corp. | 0.96% | 32,343 | $12.1M | No change |
| MIRM Mirum Pharmaceuticals Inc. | 0.95% | 101,240 | $11.9M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.90% | 22,468 | $11.2M | No change |
| GOOGL Alphabet Inc. Class A | 0.89% | 31,067 | $11.1M | No change |
| AMZN Amazon.com Inc. | 0.85% | 44,648 | $10.6M | No change |
| WPP WPP PLC-Sponsored ADR | 0.84% | 676,000 | $10.5M | New |
| NWG Natwest Group PLC -Spon ADR | 0.83% | 587,290 | $10.4M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.82% | 118,900 | $10.3M | No change |
| AS Amer Sports Inc. | 0.81% | 300,000 | $10.2M | Add +62.2% |
| COF Capital One Financial Corp. | 0.81% | 50,586 | $10.1M | New |
| MXCT Maxcyte Inc. | 0.81% | 8,200,000 | $10.1M | No change |
| SYY Sysco Corp. | 0.80% | 120,000 | $10.0M | New |
| NVST Envista Holdings Corp. | 0.67% | 319,028 | $8.4M | Reduce -57.3% |
| FRMI Fermi Inc. | 0.64% | 875,000 | $8.0M | New |
| FIVE Five Below | 0.61% | 42,500 | $7.6M | Add +240.0% |
| META Meta Platforms Inc. Class A | 0.61% | 13,500 | $7.6M | No change |
| MLTX Moonlake Immunotherapeutics | 0.58% | 374,866 | $7.3M | New |
| MTD Mettler-Toledo International | 0.58% | 5,710 | $7.3M | New |
| FLUT Flutter Entertainment PLC-Di | 0.57% | 70,000 | $7.2M | Add +94.4% |
| CRL Charles River Laboratories | 0.57% | 31,274 | $7.1M | New |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.57% | 200,000 | $7.1M | Add +43.3% |
| AADX Applied Aerospace & Defense | 0.56% | 310,000 | $7.1M | New |
| SDGR Schrodinger Inc. | 0.56% | 434,321 | $7.1M | New |
| V Visa Inc. Class A | 0.56% | 20,555 | $7.1M | Add +5.1% |
| CYTK Cytokinetics Inc. | 0.56% | 81,879 | $7.0M | New |
| ABBV Abbvie Inc. | 0.55% | 27,397 | $6.9M | No change |
| SARO Standardaero Inc. | 0.55% | 230,491 | $6.9M | Add +76.3% |
| REAL The Realreal Inc. filed as THE REALREAL INC | 0.55% | 581,571 | $6.9M | Add +6.0% |
| SCHW Schwab (charles) Corp. | 0.54% | 73,700 | $6.8M | New |
| LUXE Luxexperience BV | 0.54% | 910,372 | $6.8M | Reduce -11.0% |
| EAT Brinker International Inc. | 0.54% | 40,000 | $6.7M | Add +17.6% |
| WST West Pharmaceutical Services | 0.54% | 18,700 | $6.7M | New |
| BOOT Boot Barn Holdings Inc. | 0.53% | 40,500 | $6.7M | New |
| TPR Tapestry Inc. | 0.49% | 42,000 | $6.1M | Add +75.0% |
| FLG Flagstar Bank NA | 0.48% | 398,200 | $5.9M | New |
| LOAR Loar Holdings Inc. | 0.46% | 71,999 | $5.8M | Add +58.8% |
| BTSG Brightspring Health Services | 0.44% | 78,718 | $5.5M | Reduce -25.9% |
| DECK Deckers Outdoor Corp. | 0.43% | 54,000 | $5.4M | Add +35.0% |
| PTCT PTC Therapeutics Inc. | 0.42% | 63,900 | $5.2M | New |
| PNFP Pinnacle Financial Partners | 0.41% | 51,179 | $5.2M | New |
| BRKR Bruker Corp. | 0.41% | 85,100 | $5.1M | New |
| LAZ Lazard Inc. | 0.41% | 121,900 | $5.1M | New |
| DOC Healthpeak Properties Inc. | 0.39% | 228,200 | $4.9M | New |
| GH Guardant Health Inc. | 0.38% | 31,775 | $4.8M | New |
| KGS Kodiak Gas Services Inc. | 0.37% | 61,365 | $4.6M | Add +53.3% |
| MSCI MSCI Inc. | 0.37% | 8,185 | $4.6M | New |
| PEP Pepsico Inc. | 0.36% | 33,496 | $4.5M | Reduce -37.4% |
| DEO Diageo PLC-Sponsored ADR | 0.35% | 54,000 | $4.3M | Add +260.0% |
| LEVI Levi Strauss & Co. Class A | 0.34% | 168,700 | $4.2M | Add +2.2% |
| BURL Burlington Stores Inc. | 0.33% | 13,000 | $4.1M | Add +30.0% |
| A Agilent Technologies Inc. | 0.33% | 30,717 | $4.1M | Reduce -57.1% |
| KO The Coca-Cola Co. | 0.33% | 50,000 | $4.1M | Add +66.7% |
| WFC Wells Fargo & Co. | 0.32% | 48,900 | $4.0M | New |
| RL Ralph Lauren Corp. | 0.32% | 9,882 | $4.0M | Reduce -25.6% |
| VOD Vodafone Group PLC-SP ADR | 0.32% | 299,000 | $4.0M | New |
| GILD Gilead Sciences Inc. | 0.32% | 31,200 | $3.9M | New |
| ROST Ross Stores Inc. | 0.31% | 18,500 | $3.9M | Reduce -19.6% |
| ECL Ecolab Inc. | 0.30% | 13,488 | $3.8M | Add +85.3% |
| BAM Brookfield Asset Mgmt-A | 0.30% | 82,400 | $3.7M | New |
| APO Apollo Global Management Inc. | 0.29% | 30,751 | $3.6M | Reduce -39.7% |
| CBRS Cerebras Systems Inc. Class A | 0.28% | 15,682 | $3.5M | New |
| TGT Target Corp. | 0.27% | 26,000 | $3.4M | Add +80.9% |
| HOOD Robinhood Markets Inc. Class A | 0.27% | 33,700 | $3.4M | Reduce -72.7% |
| ETN Eaton Corp. PLC | 0.27% | 7,926 | $3.4M | New |
| LIN Linde PLC | 0.26% | 6,338 | $3.3M | Add +6.2% |
| CRH CRH PLC | 0.26% | 30,000 | $3.2M | New |
| OLLI Ollie's Bargain Outlet Holdi | 0.25% | 40,000 | $3.1M | New |
Options reported separately and not counted above: NU HLDGS LTD calls ($4.4M), APPLOVIN CORP calls ($3.6M), FERMI INC calls ($3.5M), NRG ENERGY INC calls ($2.1M), AMAZON COM INC calls ($1.6M), SEA LTD calls ($938K), MICROSOFT CORP calls ($891K), DICKS SPORTING GOODS INC calls ($685K), SELECT SECTOR SPDR TR calls ($325K), STATE STR SPDR S&P 500 ETF T puts ($201K), SHELL PLC calls ($31K).
Portfolio Sells Q1 2026 → Q2 2026
| ZYME Zymeworks Inc. | Reduce -51.7% | 1.02% | −2.91 |
| ADPT Adaptive Biotechnologies | Reduce -98.2% | 0.04% | −2.76 |
| NSC Norfolk Southern Corp. | Sold out | 0.00% | −2.73 |
| PRI Primerica Inc. | Sold out | 0.00% | −2.66 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −2.41 |
| PAHC Phibro Animal Health Corp. Class A | Sold out | 0.00% | −2.30 |
| NVST Envista Holdings Corp. | Reduce -57.3% | 0.67% | −2.28 |
| ELVN Enliven Therapeutics Inc. | Sold out | 0.00% | −2.26 |
| BAC Bank of America Corp. | Reduce -14.8% | 2.08% | −2.00 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −1.84 |
| AXGN Axogen Inc. | Reduce -32.4% | 1.72% | −1.83 |
| KWY Kingsway Corp. | Reduce -21.0% | 1.18% | −1.73 |
| TXNM TXNM Energy Inc. | Sold out | 0.00% | −1.38 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −1.27 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −1.20 |
| HOOD Robinhood Markets Inc. Class A | Reduce -72.7% | 0.27% | −1.06 |
| A Agilent Technologies Inc. | Reduce -57.1% | 0.33% | −0.95 |
| PEP Pepsico Inc. | Reduce -37.4% | 0.36% | −0.93 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.76 |
| LUXE Luxexperience BV | Reduce -11.0% | 0.54% | −0.73 |
| QSR Restaurant Brands Intern | Reduce -92.2% | 0.03% | −0.72 |
| PFE Pfizer Inc. | Reduce -86.7% | 0.04% | −0.68 |
| MASI Masimo Corp. | Sold out | 0.00% | −0.63 |
| COCO The Vita Coco Co. Inc. | Reduce -84.2% | 0.08% | −0.63 |
| APO Apollo Global Management Inc. | Reduce -39.7% | 0.29% | −0.59 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.46 |
| ROST Ross Stores Inc. | Reduce -19.6% | 0.31% | −0.46 |
| RNR Renaissancere Holdings Ltd. | Sold out | 0.00% | −0.45 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.44 |
| AVR Anteris Technologies Global | Sold out | 0.00% | −0.43 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.41 |
| RL Ralph Lauren Corp. | Reduce -25.6% | 0.32% | −0.40 |
| VIRT Virtu Financial Inc. Class A | Sold out | 0.00% | −0.37 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.36 |
| TXG 10X Genomics Inc. Class A | Sold out | 0.00% | −0.34 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.33 |
| BCRX Biocryst Pharmaceuticals Inc. | Sold out | 0.00% | −0.30 |
| PEN Penumbra Inc. | Sold out | 0.00% | −0.30 |
| MDLN Medline Inc. Class A | Sold out | 0.00% | −0.29 |
| LQDA Liquidia Corp. | Reduce -26.4% | 1.16% | −0.29 |
| TARS Tarsus Pharmaceuticals Inc. | Sold out | 0.00% | −0.28 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.27 |
| BTSG Brightspring Health Services | Reduce -25.9% | 0.44% | −0.27 |
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −0.25 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Sold out | 0.00% | −0.22 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −0.21 |
| CAG Conagra Brands Inc. | Sold out | 0.00% | −0.19 |
| TEX Terex Corp. | Reduce -7.3% | 0.24% | −0.17 |
| AXTA Axalta Coating Systems Ltd. | Reduce -62.9% | 0.05% | −0.15 |
| MRVI Maravai Lifesciences Hldgs-A | Sold out | 0.00% | −0.15 |
Portfolio Buys Q1 2026 → Q2 2026
| LPLA LPL Financial Holdings Inc. | New | 4.39% | +4.39 |
| BP BP PLC-Spons ADR | New | 2.91% | +2.91 |
| SHEL Shell PLC-ADR | New | 2.85% | +2.85 |
| APP AppLovin Corp. Class A | New | 2.52% | +2.52 |
| BRUN Boost Run Inc. Class A | New | 2.33% | +2.33 |
| ING ING Groep N.V.-Sponsored ADR | New | 2.26% | +2.26 |
| BKD Brookdale Senior Living Inc. | New | 2.02% | +2.02 |
| AMG Affiliated Managers Group | New | 1.87% | +1.87 |
| GSK GSK PLC-Spon ADR | New | 1.79% | +1.79 |
| NRG NRG Energy Inc. | New | 1.76% | +1.76 |
| TSM Taiwan Semiconductor-SP ADR | New | 1.69% | +1.69 |
| RDDT Reddit Inc. Class A | New | 1.67% | +1.67 |
| TVTX Travere Therapeutics Inc. | New | 1.46% | +1.46 |
| AVGO Broadcom Inc. | New | 1.44% | +1.44 |
| FDS Factset Research Systems Inc. | New | 1.37% | +1.37 |
| RIO Rio Tinto PLC-Spon ADR | New | 1.22% | +1.22 |
| SE Sea Ltd.-ADR | New | 1.15% | +1.15 |
| ROP Roper Technologies Inc. | New | 1.14% | +1.14 |
| VST Vistra Corp. | New | 1.01% | +1.01 |
| LFTO Liftoff Mobile Inc. | New | 0.98% | +0.98 |
| MIRM Mirum Pharmaceuticals Inc. | New | 0.95% | +0.95 |
| WPP WPP PLC-Sponsored ADR | New | 0.84% | +0.84 |
| NWG Natwest Group PLC -Spon ADR | New | 0.83% | +0.83 |
| COF Capital One Financial Corp. | New | 0.81% | +0.81 |
| BTI British American Tob-SP ADR | Add +196.1% | 2.15% | +0.81 |
| SYY Sysco Corp. | New | 0.80% | +0.80 |
| FRMI Fermi Inc. | New | 0.64% | +0.64 |
| MTD Mettler-Toledo International | New | 0.58% | +0.58 |
| MLTX Moonlake Immunotherapeutics | New | 0.58% | +0.58 |
| CRL Charles River Laboratories | New | 0.57% | +0.57 |
| AADX Applied Aerospace & Defense | New | 0.56% | +0.56 |
| SDGR Schrodinger Inc. | New | 0.56% | +0.56 |
| CYTK Cytokinetics Inc. | New | 0.56% | +0.56 |
| SCHW Schwab (charles) Corp. | New | 0.54% | +0.54 |
| WST West Pharmaceutical Services | New | 0.54% | +0.54 |
| BOOT Boot Barn Holdings Inc. | New | 0.53% | +0.53 |
| FLG Flagstar Bank NA | New | 0.48% | +0.48 |
| PTCT PTC Therapeutics Inc. | New | 0.42% | +0.42 |
| PNFP Pinnacle Financial Partners | New | 0.41% | +0.41 |
| BRKR Bruker Corp. | New | 0.41% | +0.41 |
| LAZ Lazard Inc. | New | 0.41% | +0.41 |
| DOC Healthpeak Properties Inc. | New | 0.39% | +0.39 |
| GH Guardant Health Inc. | New | 0.38% | +0.38 |
| MSCI MSCI Inc. | New | 0.37% | +0.37 |
| WFC Wells Fargo & Co. | New | 0.32% | +0.32 |
| KKR KKR & Co. Inc. | Add +117.0% | 3.38% | +0.32 |
| VOD Vodafone Group PLC-SP ADR | New | 0.32% | +0.32 |
| GILD Gilead Sciences Inc. | New | 0.32% | +0.32 |
| BAM Brookfield Asset Mgmt-A | New | 0.30% | +0.30 |
| CBRS Cerebras Systems Inc. Class A | New | 0.28% | +0.28 |
Options Activity Q1 2026 → Q2 2026
| NU HLDGS LTD | call | New | 30,000 | $4.4M |
| APPLOVIN CORP | call | New | 500 | $3.6M |
| FERMI INC | call | New | 10,000 | $3.5M |
| NRG ENERGY INC | call | New | 1,500 | $2.1M |
| AMAZON COM INC | call | New | 2,000 | $1.6M |
| SEA LTD | call | New | 1,500 | $938K |
| MICROSOFT CORP | call | New | 1,000 | $891K |
| DICKS SPORTING GOODS INC | call | New | 1,000 | $685K |
| SELECT SECTOR SPDR TR | call | New | 80,000 | $325K |
| STATE STR SPDR S&P 500 ETF T | put | New | 1,000 | $201K |
| SHELL PLC | call | New | 5,000 | $31K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 167 | $1.3B | LPLA, KKR, BP, SHEL, APP |
| Q1 2026 | 114 | $641.4M | CVNA, BAC, ZYME, AXGN, KKR |
| Q4 2025 | 82 | $414.9M | ZYME, WAY, GPCR, NUVB, MSFT |
| Q3 2025 | 59 | $297.8M | WAY, TARS, MSFT, VERA, REAL |
| Q2 2025 | 54 | $211.6M | SN, MSFT, AMZN, GOOGL, RL |
| Q1 2025 | 49 | $187.1M | JNJ, GOOGL, SN, SKX, MSFT |
| Q4 2024 | 65 | $224.7M | KSPI, GOOGL, JNJ, REAL, BRK.B |
| Q3 2024 | 53 | $146.9M | KSPI, JNJ, GOOGL, BRK.B, META |
| Q2 2024 | 55 | $141.8M | KSPI, META, JNJ, BRK.B, PFE |
| Q1 2024 | 56 | $166.1M | KSPI, VTV, NEE, BRK.B, GOOGL |