Capricorn Fund Managers Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), Capricorn Fund Managers Ltd reported 54 stock positions worth $211.6 million. Its top holding was Sharkninja (SN) at 6.1% of the portfolio, followed by Microsoft (MSFT, 5.1%) and Amazon.com (AMZN, 4.7%). Compared with Q1 2025, it opened 11 new positions, sold out of 6, added to 13 and reduced 24. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale an exit from Johnson & Johnson (JNJ).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001901361
- Portfolio Value
- $211.6M (Q2 2025)
- SEC Filing
- 0001901361-25-000006 ↗ filed Jul 22, 2025
Holdings Value
Holdings 54 stocks · $211.6M
| SN Sharkninja Inc. | 6.08% | 130,000 | $12.9M | Add +16.1% |
| MSFT Microsoft Corp. | 5.08% | 21,607 | $10.7M | Reduce -12.0% |
| AMZN Amazon.com Inc. | 4.73% | 45,653 | $10.0M | New |
| GOOGL Alphabet Inc. Class A | 4.09% | 49,090 | $8.7M | Reduce -26.7% |
| RL Ralph Lauren Corp. | 4.02% | 31,000 | $8.5M | New |
| TPR Tapestry Inc. | 3.94% | 95,000 | $8.3M | Reduce -17.4% |
| REAL The Realreal Inc. filed as THE REALREAL INC | 3.64% | 1,607,370 | $7.7M | Add +78.4% |
| KARO Karooooo Ltd. | 3.58% | 154,756 | $7.6M | Add +7.9% |
| DKS Dick's Sporting Goods Inc. | 3.27% | 35,000 | $6.9M | Add +250.0% |
| DECK Deckers Outdoor Corp. | 3.21% | 66,000 | $6.8M | Reduce -14.3% |
| META Meta Platforms Inc. Class A | 3.19% | 9,143 | $6.7M | Add +6.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.12% | 13,592 | $6.6M | Reduce -16.0% |
| V Visa Inc. Class A | 3.03% | 18,075 | $6.4M | Reduce -6.0% |
| BTI British American Tob-SP ADR | 3.02% | 135,000 | $6.4M | Reduce -6.9% |
| ABBV Abbvie Inc. | 2.75% | 31,394 | $5.8M | Reduce -8.3% |
| AS Amer Sports Inc. | 2.47% | 134,602 | $5.2M | Add +22.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.42% | 41,499 | $5.1M | Add +50.9% |
| COCO The Vita Coco Co. Inc. | 2.39% | 140,000 | $5.1M | New |
| LUXE Luxexperience BV | 2.36% | 629,311 | $5.0M | Add +4.5% |
| QSR Restaurant Brands Intern | 2.34% | 74,587 | $4.9M | Reduce -8.2% |
| CPRI Capri Holdings Ltd. | 2.17% | 260,000 | $4.6M | Add +62.5% |
| PFE Pfizer Inc. | 2.16% | 188,699 | $4.6M | Reduce -8.5% |
| UNP Union Pacific Corp. | 2.09% | 19,229 | $4.4M | Reduce -9.6% |
| LIN Linde PLC | 2.06% | 9,296 | $4.4M | Reduce -8.2% |
| PYPL PayPal Holdings Inc. | 1.95% | 55,442 | $4.1M | Reduce -17.5% |
| OXY Occidental Petroleum Corp. | 1.76% | 88,727 | $3.7M | Reduce -8.3% |
| WWW Wolverine World Wide Inc. | 1.71% | 200,000 | $3.6M | New |
| PVH PVH Corp. | 1.62% | 50,000 | $3.4M | New |
| LULU Lululemon Athletica Inc. | 1.52% | 13,500 | $3.2M | Add +35.0% |
| URBN Urban Outfitters Inc. | 1.37% | 40,000 | $2.9M | New |
| ONON On Holding AG Class A filed as ON HLDG AG | 1.33% | 54,000 | $2.8M | New |
| CVX Chevron Corp. | 1.30% | 19,182 | $2.7M | Reduce -4.6% |
| PEP Pepsico Inc. | 1.27% | 20,314 | $2.7M | New |
| CCEP Coca-Cola Europacific Partne | 1.10% | 25,000 | $2.3M | Reduce -33.2% |
| CONTEXTLOGIC INC - A | 0.80% | 250,000 | $1.7M | No change |
| MDLZ Mondelez International Inc. Class A | 0.80% | 25,000 | $1.7M | New |
| IBIT iShares Bitcoin Trust ETF | 0.80% | 27,490 | $1.7M | Add +96.4% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.68% | 17,000 | $1.4M | No change |
| BUR Burford Capital Ltd. | 0.67% | 100,000 | $1.4M | Add +400.0% |
| UBER Uber Technologies Inc. | 0.66% | 15,021 | $1.4M | Add +34.0% |
| SCHW Schwab (charles) Corp. | 0.55% | 12,701 | $1.2M | Reduce -1.7% |
| WH Wyndham Hotels & Resorts Inc. | 0.53% | 13,920 | $1.1M | New |
| CRH CRH PLC-Sponsored ADR | 0.46% | 10,664 | $979K | Reduce -7.7% |
| BN Brookfield Corp. | 0.45% | 15,336 | $949K | New |
| BTU Peabody Energy Corp. | 0.29% | 46,000 | $617K | Reduce -24.6% |
| NE Noble Corp. PLC | 0.26% | 20,900 | $555K | Reduce -32.4% |
| TECK Teck Resources Ltd.-CLS B | 0.19% | 10,000 | $404K | No change |
| METC Ramaco Resources Inc. Class A | 0.19% | 30,095 | $395K | Reduce -33.3% |
| ASC Ardmore Shipping Corp. | 0.14% | 30,000 | $288K | No change |
| METCB Ramaco Resources Inc. Class B | 0.11% | 28,933 | $237K | Reduce -12.7% |
| BORR Borr Drilling Ltd. | 0.10% | 110,000 | $201K | No change |
| KOS Kosmos Energy Ltd. | 0.09% | 107,000 | $184K | Reduce -31.9% |
| TALO Talos Energy Inc. | 0.05% | 12,500 | $106K | Reduce -37.5% |
| HEPS D-Market Electronic Serv-ADR | 0.04% | 29,185 | $79K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| JNJ Johnson & Johnson | Sold out | 0.00% | −6.02 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −4.99 |
| MCD McDonald's Corp. | Sold out | 0.00% | −2.86 |
| VRSN Verisign Inc. | Sold out | 0.00% | −2.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -16.0% | 3.12% | −1.48 |
| GOOGL Alphabet Inc. Class A | Reduce -26.7% | 4.09% | −1.45 |
| DECK Deckers Outdoor Corp. | Reduce -14.3% | 3.21% | −1.39 |
| ABBV Abbvie Inc. | Reduce -8.3% | 2.75% | −1.08 |
| OXY Occidental Petroleum Corp. | Reduce -8.3% | 1.76% | −0.79 |
| PFE Pfizer Inc. | Reduce -8.5% | 2.16% | −0.63 |
| UNP Union Pacific Corp. | Reduce -9.6% | 2.09% | −0.60 |
| CCEP Coca-Cola Europacific Partne | Reduce -33.2% | 1.10% | −0.59 |
| V Visa Inc. Class A | Reduce -6.0% | 3.03% | −0.57 |
| QSR Restaurant Brands Intern | Reduce -8.2% | 2.34% | −0.56 |
| CVX Chevron Corp. | Reduce -4.6% | 1.30% | −0.50 |
| LIN Linde PLC | Reduce -8.2% | 2.06% | −0.46 |
| PYPL PayPal Holdings Inc. | Reduce -17.5% | 1.95% | −0.40 |
| CHWY Chewy Inc. Class A | Sold out | 0.00% | −0.20 |
| BTI British American Tob-SP ADR | Reduce -6.9% | 3.02% | −0.19 |
| BTU Peabody Energy Corp. | Reduce -24.6% | 0.29% | −0.15 |
| NE Noble Corp. PLC | Reduce -32.4% | 0.26% | −0.13 |
| KOS Kosmos Energy Ltd. | Reduce -31.9% | 0.09% | −0.10 |
| CRH CRH PLC-Sponsored ADR | Reduce -7.7% | 0.46% | −0.08 |
| SMHI Seacor Marine Holdings Inc. | Sold out | 0.00% | −0.07 |
| TALO Talos Energy Inc. | Reduce -37.5% | 0.05% | −0.05 |
| METCB Ramaco Resources Inc. Class B | Reduce -12.7% | 0.11% | −0.01 |
| METC Ramaco Resources Inc. Class A | Reduce -33.3% | 0.19% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -1.7% | 0.55% | +0.01 |
| MSFT Microsoft Corp. | Reduce -12.0% | 5.08% | +0.15 |
| TPR Tapestry Inc. | Reduce -17.4% | 3.94% | +2.15 |
Portfolio Buys Q1 2025 → Q2 2025
| AMZN Amazon.com Inc. | New | 4.73% | +4.73 |
| RL Ralph Lauren Corp. | New | 4.02% | +4.02 |
| COCO The Vita Coco Co. Inc. | New | 2.39% | +2.39 |
| DKS Dick's Sporting Goods Inc. | Add +250.0% | 3.27% | +2.19 |
| WWW Wolverine World Wide Inc. | New | 1.71% | +1.71 |
| PVH PVH Corp. | New | 1.62% | +1.62 |
| URBN Urban Outfitters Inc. | New | 1.37% | +1.37 |
| ONON On Holding AG Class A | New | 1.33% | +1.33 |
| PEP Pepsico Inc. | New | 1.27% | +1.27 |
| REAL The Realreal Inc. | Add +78.4% | 3.64% | +1.04 |
| AS Amer Sports Inc. | Add +22.4% | 2.47% | +0.89 |
| MDLZ Mondelez International Inc. Class A | New | 0.80% | +0.80 |
| SN Sharkninja Inc. | Add +16.1% | 6.08% | +0.56 |
| META Meta Platforms Inc. Class A | Add +6.7% | 3.19% | +0.55 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.53% | +0.53 |
| BUR Burford Capital Ltd. | Add +400.0% | 0.67% | +0.53 |
| BN Brookfield Corp. | New | 0.45% | +0.45 |
| IBIT iShares Bitcoin Trust ETF | Add +96.4% | 0.80% | +0.45 |
| CPRI Capri Holdings Ltd. | Add +62.5% | 2.17% | +0.43 |
| KARO Karooooo Ltd. | Add +7.9% | 3.58% | +0.32 |
| UBER Uber Technologies Inc. | Add +34.0% | 0.66% | +0.23 |
| LULU Lululemon Athletica Inc. | Add +35.0% | 1.52% | +0.00 |
| LUXE Luxexperience BV | Add +4.5% | 2.36% | −0.07 |
| TJX TJX Companies Inc. | Add +50.9% | 2.42% | −1.91 |
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 |