Lecap Asset Management Ltd.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 21, 2025), Lecap Asset Management Ltd. reported 282 stock positions worth $282.7 million. Its top holding was Tapestry (TPR) at 1.0% of the portfolio, followed by T-Mobile US (TMUS, 1.0%) and Mastercard Class A (MA, 1.0%). Compared with Q1 2025, it opened 134 new positions, sold out of 130, added to 39 and reduced 109. The biggest buy was a new position in Mastercard Class A (MA) and the biggest sale an exit from Hunt (jb) Transprt SVCS (JBHT).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001990849
Portfolio Value
$282.7M (Q2 2025)
SEC Filing
0001990849-25-000007 ↗ filed Jul 21, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $480.4M Q1 2024 Q2 2024: $463.0M Q2 2024 Q3 2024: $463.1M Q3 2024 Q4 2024: $368.9M Q4 2024 Q1 2025: $428.2M Q1 2025 Q2 2025: $282.7M $282.7M Q2 2025 Q3 2025: $287.7M Q3 2025 Q4 2025: $251.1M Q4 2025 Q1 2026: $265.9M Q1 2026 Q2 2026: $233.2M Q2 2026

Holdings 282 stocks · $282.7M
TPR Tapestry Inc. 1.04% 33,598 $3.0M Add +4.1%
TMUS T-Mobile US Inc. 1.04% 12,342 $2.9M Add +327.5%
MA Mastercard Inc. Class A 1.04% 5,220 $2.9M New
BSX Boston Scientific Corp. 1.03% 27,070 $2.9M New
VRSK Verisk Analytics Inc. 1.02% 9,278 $2.9M New
CCI Crown Castle Inc. 1.02% 28,117 $2.9M New
CL Colgate-Palmolive Co. 1.02% 31,696 $2.9M New
CNC Centene Corp. 1.02% 53,014 $2.9M Add +288.2%
IPG Interpublic Group of Cos Inc. 1.01% 116,787 $2.9M New
OTIS Otis Worldwide Corp. 1.00% 28,627 $2.8M New
ROST Ross Stores Inc. 0.97% 21,472 $2.7M Reduce -19.3%
UBER Uber Technologies Inc. 0.97% 29,336 $2.7M Reduce -7.0%
BX Blackstone Inc. 0.95% 17,888 $2.7M Add +274.0%
CPRT Copart Inc. 0.93% 53,787 $2.6M New
INTU Intuit Inc. 0.92% 3,318 $2.6M Reduce -13.7%
DOV Dover Corp. 0.92% 14,240 $2.6M Reduce -33.6%
MET Metlife Inc. 0.92% 32,208 $2.6M Add +107.0%
HST Host Hotels & Resorts Inc. 0.91% 167,662 $2.6M New
TEAM Atlassian Corp. Class A 0.89% 12,413 $2.5M Add +105.6%
ESTC Elastic NV 0.82% 27,583 $2.3M Add +2.8%
NDAQ Nasdaq Inc. 0.81% 25,473 $2.3M New
ELV Elevance Health Inc. 0.80% 5,831 $2.3M Add +171.6%
HAS Hasbro Inc. 0.76% 29,261 $2.2M Reduce -43.4%
ZM Zoom Communications Inc. 0.76% 27,562 $2.1M Reduce -14.1%
MCHP Microchip Technology Inc. 0.73% 29,371 $2.1M New
SCHW Schwab (charles) Corp. 0.72% 22,312 $2.0M Reduce -24.2%
IEX Idex Corp. 0.71% 11,405 $2.0M Reduce -31.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.70% 16,119 $2.0M Add +178.1%
MDB Mongodb Inc. 0.70% 9,376 $2.0M New
MANH Manhattan Associates Inc. 0.69% 9,839 $1.9M New
MTZ Mastec Inc. 0.68% 11,314 $1.9M Add +76.4%
ACGL Arch Capital Group Ltd. 0.68% 21,161 $1.9M New
HIG Hartford Insurance Group Inc. 0.68% 15,186 $1.9M New
SPG Simon Property Group Inc. 0.68% 11,973 $1.9M Add +426.8%
WSO Watsco Inc. 0.68% 4,344 $1.9M New
MKTX Marketaxess Holdings Inc. 0.67% 8,458 $1.9M Add +54.0%
ADP Automatic Data Processing 0.67% 6,122 $1.9M New
DXCM Dexcom Inc. 0.66% 21,528 $1.9M Reduce -62.1%
GEV GE Vernova Inc. 0.66% 3,516 $1.9M Add +163.8%
GLOB Globant SA 0.66% 20,420 $1.9M New
AOS Smith (a.o.) Corp. 0.64% 27,755 $1.8M New
ALL Allstate Corp. 0.63% 8,812 $1.8M Add +18.7%
SEIC Sei Investments Company 0.62% 19,523 $1.8M Add +208.0%
MU Micron Technology Inc. 0.61% 14,038 $1.7M New
COO The Cooper Cos Inc. 0.60% 24,034 $1.7M Add +16.3%
KNX Knight-Swift Transportation 0.60% 38,568 $1.7M Reduce -57.7%
FBIN Fortune Brands Innovations I 0.60% 32,864 $1.7M Add +295.6%
CDNS Cadence Design SYS Inc. 0.59% 5,421 $1.7M New
ONTO Onto Innovation Inc. 0.59% 16,425 $1.7M Add +45.8%
OC Owens Corning 0.57% 11,751 $1.6M Reduce -24.0%
GRMN Garmin Ltd. 0.56% 7,555 $1.6M New
SN Sharkninja Inc. 0.55% 15,618 $1.5M Reduce -51.8%
CRL Charles River Laboratories 0.54% 10,135 $1.5M New
REXR Rexford Industrial Realty Inc. 0.54% 43,100 $1.5M New
FTV Fortive Corp. 0.53% 28,814 $1.5M New
ROK Rockwell Automation Inc. 0.53% 4,513 $1.5M New
CAR Avis Budget Group Inc. 0.53% 8,815 $1.5M New
CRM Salesforce Inc. 0.53% 5,450 $1.5M Reduce -4.0%
AME Ametek Inc. 0.53% 8,210 $1.5M Reduce -57.3%
AFRM Affirm Holdings Inc. 0.53% 21,485 $1.5M Add +97.6%
MNST Monster Beverage Corp. 0.52% 23,536 $1.5M Reduce -36.1%
PCTY Paylocity Holding Corp. 0.52% 8,049 $1.5M New
COF Capital One Financial Corp. 0.51% 6,804 $1.4M New
BBWI Bath & Body Works Inc. 0.51% 47,688 $1.4M Reduce -55.3%
TTC Toro Co. 0.50% 19,994 $1.4M Reduce -33.8%
MRK Merck & Co. Inc. 0.49% 17,574 $1.4M Reduce -26.3%
FNF Fidelity National Financial 0.48% 24,306 $1.4M Reduce -38.3%
UHS Universal Health Services-B 0.48% 7,501 $1.4M Add +59.3%
ILMN Illumina Inc. 0.48% 14,178 $1.4M Reduce -70.0%
BF.B Brown-Forman Corp. Class B 0.48% 50,016 $1.3M Add +10.2%
JEF Jefferies Financial Group Inc. 0.48% 24,584 $1.3M New
RHI Robert Half Inc. 0.47% 32,633 $1.3M Add +7.8%
ADBE Adobe Inc. 0.47% 3,433 $1.3M Reduce -34.4%
RGA Reinsurance Group of America 0.46% 6,612 $1.3M Reduce -44.9%
DG Dollar General Corp. 0.45% 11,131 $1.3M New
EG Everest Group Ltd. 0.45% 3,728 $1.3M Reduce -45.0%
BIRK Birkenstock Holding PLC 0.44% 25,566 $1.3M Reduce -41.3%
EQIX Equinix Inc. 0.44% 1,579 $1.3M Reduce -50.4%
BMY Bristol-Myers Squibb Co. 0.44% 27,124 $1.3M New
TSN Tyson Foods Inc. Class A 0.44% 22,377 $1.3M Reduce -29.1%
WDAY Workday Inc. Class A 0.44% 5,166 $1.2M New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.43% 13,262 $1.2M New
SWKS Skyworks Solutions Inc. 0.43% 16,141 $1.2M New
USFD US Foods Holding Corp. 0.42% 15,512 $1.2M New
ALSN Allison Transmission Holding 0.42% 12,572 $1.2M Add +292.0%
FISV Fiserv Inc. 0.42% 6,873 $1.2M New
CART Maplebear Inc. 0.42% 26,135 $1.2M Reduce -52.2%
GLPI Gaming and Leisure Propertie 0.42% 25,315 $1.2M Reduce -28.6%
LYFT LYFT Inc. Class A 0.42% 74,755 $1.2M New
VOYA Voya Financial Inc. 0.40% 15,838 $1.1M New
PEN Penumbra Inc. 0.39% 4,314 $1.1M New
INVH Invitation Homes Inc. 0.39% 33,753 $1.1M Add +174.9%
GWRE Guidewire Software Inc. 0.39% 4,674 $1.1M New
PFG Principal Financial Group 0.39% 13,795 $1.1M Reduce -16.8%
GOOG Alphabet Inc. Class C 0.38% 6,126 $1.1M New
HRB H&R Block Inc. filed as BLOCK H & R INC 0.38% 19,770 $1.1M Reduce -14.7%
COST Costco Wholesale Corp. 0.38% 1,095 $1.1M New
OLED Universal Display Corp. 0.38% 7,006 $1.1M New
ICE Intercontinental Exchange Inc. 0.38% 5,859 $1.1M New
ACM Aecom 0.38% 9,487 $1.1M New

Show all 282 holdings

Portfolio Sells Q1 2025 → Q2 2025
JBHT Hunt (jb) Transprt SVCS Inc. Sold out 0.00% −1.01
A Agilent Technologies Inc. Sold out 0.00% −0.98
HOLX Hologic Inc. Sold out 0.00% −0.95
GEHC GE Healthcare Technology Sold out 0.00% −0.94
EVR Evercore Inc. Class A Sold out 0.00% −0.92
HUM Humana Inc. Sold out 0.00% −0.92
DT Dynatrace Inc. Sold out 0.00% −0.90
VLTO Veralto Corp. Sold out 0.00% −0.88
SYY Sysco Corp. Sold out 0.00% −0.81
NVT Nvent Electric PLC Sold out 0.00% −0.80
HUBB Hubbell Inc. Sold out 0.00% −0.80
CTSH Cognizant Tech Solutions-A Reduce -91.0% 0.12% −0.77
ADSK Autodesk Inc. Sold out 0.00% −0.74
PLD Prologis Inc. Sold out 0.00% −0.69
TGT Target Corp. Sold out 0.00% −0.69
CLX Clorox Company Sold out 0.00% −0.64
OKTA Okta Inc. Sold out 0.00% −0.64
SUI Sun Communities Inc. Sold out 0.00% −0.64
BRKR Bruker Corp. Sold out 0.00% −0.63
WY Weyerhaeuser Co. Sold out 0.00% −0.63
HD Home Depot Inc. Reduce -85.3% 0.18% −0.62
AS Amer Sports Inc. Sold out 0.00% −0.61
ODFL Old Dominion Freight Line Sold out 0.00% −0.61
MRVL Marvell Technology Inc. Sold out 0.00% −0.59
NWSA News Corp. Class A Sold out 0.00% −0.59
GNRC Generac Holdings Inc. Sold out 0.00% −0.56
DHI D.R. Horton Inc. Reduce -88.8% 0.11% −0.55
LAMR Lamar Advertising Co. Class A Sold out 0.00% −0.54
ALLE Allegion PLC Sold out 0.00% −0.54
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.52
GL Globe Life Inc. Sold out 0.00% −0.52
FND Floor & Decor Holdings Inc. Class A Sold out 0.00% −0.51
FIVE Five Below Sold out 0.00% −0.50
JPM JPMorgan Chase & Co. Sold out 0.00% −0.49
AON Aon PLC Class A Sold out 0.00% −0.48
VRT Vertiv Holdings Co. Class A Reduce -94.9% 0.08% −0.48
CBOE Cboe Global Markets Inc. Sold out 0.00% −0.48
IBKR Interactive Brokers Gro Class A Sold out 0.00% −0.47
EL Estee Lauder Companies Class A Reduce -85.0% 0.18% −0.46
APPF Appfolio Inc. Class A Sold out 0.00% −0.45
VFC VF Corp. Sold out 0.00% −0.45
FR First Industrial Realty TR Sold out 0.00% −0.45
ADI Analog Devices Inc. Sold out 0.00% −0.45
ANET Arista Networks Inc. Reduce -81.8% 0.25% −0.45
GPN Global Payments Inc. Reduce -77.1% 0.18% −0.44
GGG Graco Inc. Sold out 0.00% −0.44
DOCS Doximity Inc. Class A Reduce -85.3% 0.14% −0.44
PVH PVH Corp. Sold out 0.00% −0.44
AVGO Broadcom Inc. Reduce -86.5% 0.22% −0.43
NXST Nexstar Media Group Inc. Reduce -73.5% 0.27% −0.43

Portfolio Buys Q1 2025 → Q2 2025
MA Mastercard Inc. Class A New 1.04% +1.04
BSX Boston Scientific Corp. New 1.03% +1.03
VRSK Verisk Analytics Inc. New 1.02% +1.02
CCI Crown Castle Inc. New 1.02% +1.02
CL Colgate-Palmolive Co. New 1.02% +1.02
IPG Interpublic Group of Cos Inc. New 1.01% +1.01
OTIS Otis Worldwide Corp. New 1.00% +1.00
CPRT Copart Inc. New 0.93% +0.93
HST Host Hotels & Resorts Inc. New 0.91% +0.91
TMUS T-Mobile US Inc. Add +327.5% 1.04% +0.86
CNC Centene Corp. Add +288.2% 1.02% +0.82
NDAQ Nasdaq Inc. New 0.81% +0.81
BX Blackstone Inc. Add +274.0% 0.95% +0.79
MCHP Microchip Technology Inc. New 0.73% +0.73
MDB Mongodb Inc. New 0.70% +0.70
MANH Manhattan Associates Inc. New 0.69% +0.69
HIG Hartford Insurance Group Inc. New 0.68% +0.68
ACGL Arch Capital Group Ltd. New 0.68% +0.68
WSO Watsco Inc. New 0.68% +0.68
ADP Automatic Data Processing New 0.67% +0.67
GLOB Globant SA New 0.66% +0.66
AOS Smith (a.o.) Corp. New 0.64% +0.64
MET Metlife Inc. Add +107.0% 0.92% +0.62
MU Micron Technology Inc. New 0.61% +0.61
SPG Simon Property Group Inc. Add +426.8% 0.68% +0.59
TEAM Atlassian Corp. Class A Add +105.6% 0.89% +0.59
CDNS Cadence Design SYS Inc. New 0.59% +0.59
ELV Elevance Health Inc. Add +171.6% 0.80% +0.58
GEV GE Vernova Inc. Add +163.8% 0.66% +0.56
GRMN Garmin Ltd. New 0.56% +0.56
CRL Charles River Laboratories New 0.54% +0.54
REXR Rexford Industrial Realty Inc. New 0.54% +0.54
TJX TJX Companies Inc. Add +178.1% 0.70% +0.54
FTV Fortive Corp. New 0.53% +0.53
ROK Rockwell Automation Inc. New 0.53% +0.53
CAR Avis Budget Group Inc. New 0.53% +0.53
PCTY Paylocity Holding Corp. New 0.52% +0.52
TPR Tapestry Inc. Add +4.1% 1.04% +0.51
COF Capital One Financial Corp. New 0.51% +0.51
MTZ Mastec Inc. Add +76.4% 0.68% +0.51
SEIC Sei Investments Company Add +208.0% 0.62% +0.51
FBIN Fortune Brands Innovations I Add +295.6% 0.60% +0.48
JEF Jefferies Financial Group Inc. New 0.48% +0.48
DG Dollar General Corp. New 0.45% +0.45
BMY Bristol-Myers Squibb Co. New 0.44% +0.44
WDAY Workday Inc. Class A New 0.44% +0.44
BNY Bank of New York Mellon Corp. New 0.43% +0.43
SWKS Skyworks Solutions Inc. New 0.43% +0.43
USFD US Foods Holding Corp. New 0.42% +0.42
FISV Fiserv Inc. New 0.42% +0.42

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 254$233.2MGDDY, IR, KR, DHI, NTNX
Q1 2026 267$265.9MIBKR, TOL, SYY, MA, SSNC
Q4 2025 277$251.1MMSI, NOW, VICI, PODD, OTIS
Q3 2025 266$287.7MNVDA, TJX, CCI, MRSH, SCHW
Q2 2025 282$282.7MTPR, TMUS, MA, BSX, VRSK
Q1 2025 278$428.2MJBHT, A, HOLX, GEHC, KNX
Q4 2024 279$368.9MCDW, LDOS, SCHW, CTAS, HOLX
Q3 2024 297$463.1MVEEV, UNP, GWRE, ADBE, EFX
Q2 2024 301$463.0MODFL, MMM, DT, BDX, CSX
Q1 2024 281$480.4MKR, VRSK, CARR, DOV, INTU