Q2 2026 13F · SEC CIK 1901361

Capricorn Fund Managers Ltd

Hedge fundFiled 2026-07-24 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.3B
Reported positions: 167
Top holdings a year, 3 yrs: +17.2%
Average holding period: 1 qtrs

Capricorn Fund Managers Ltd is a hedge fund that reported 167 positions worth $1.3B in its Q2 2026 13F, filed 2026-07-24. Its largest holdings were Lpl Finl Hldgs Inc (LPLA, 4.4%), Kkr & Co Inc (KKR, 3.4%), Bp PLC (BP, 2.9%). A portfolio copying its top holdings returned 17.2% a year over the last 3 years, against 20.4% for the S&P 500.

Capricorn Fund Managers Ltd holdings largest 50 of 167 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Capricorn Fund Managers Ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
LPLALpl Finl Hldgs Inc	4.4%	—	194,812	—	$54.9M
KKRKkr & Co Inc	3.4%	3.1%	460,100	+117.0%	$42.2M
BPBp PLC	2.9%	—	984,203	—	$36.4M
SHELShell PLC	2.8%	—	459,200	—	$35.6M
APPApplovin Corp	2.5%	—	61,276	—	$31.6M
CVNACarvana Co	2.5%	4.7%	475,000	+400.0%	$31.3M
BRUNBoost Run Inc	2.3%	—	750,000	—	$29.1M
INGIng Groep N.v.	2.3%	—	900,000	—	$28.2M
BTIBritish Amern Tob PLC	2.1%	1.3%	435,252	+196.1%	$26.9M
BACBank of Amer Corp	2.1%	4.1%	457,455	-14.8%	$26.1M
BKDBrookdale Sr Living Inc	2.0%	—	1,570,000	—	$25.3M
AMGAffiliated Managers Group	1.9%	—	69,045	—	$23.4M
GSKGsk PLC	1.8%	—	426,416	—	$22.4M
NRGNrg Energy Inc	1.8%	—	151,000	—	$22.1M
AXGNAxogen Inc	1.7%	3.6%	464,863	-32.4%	$21.5M
TSMTaiwan Semiconductor Manufac	1.7%	—	44,200	—	$21.1M
RDDTReddit Inc	1.7%	—	120,000	—	$20.8M
BLNDBlend Labs, Inc.	1.5%	1.7%	11,314,649	+74.1%	$19.3M
TVTXTravere Therapeutics Inc	1.5%	—	321,721	—	$18.3M
AVGOBroadcom Inc	1.4%	—	47,500	—	$17.9M
TROWPrice T Rowe Group Inc	1.4%	1.2%	155,300	+86.0%	$17.7M
FDSFactset Resh Sys Inc	1.4%	—	74,500	—	$17.1M
KAROKarooooo Ltd	1.3%	2.2%	319,346	+14.7%	$15.8M
SKINSkinhealth Systems Inc	1.2%	2.7%	22,276,935	+14.8%	$15.4M
RIORio Tinto PLC	1.2%	—	160,275	—	$15.2M
KFSKingsway Corp	1.2%	2.9%	1,410,526	-21.0%	$14.7M
LQDALiquidia Corporation	1.2%	1.5%	182,205	-26.4%	$14.5M
SESea Ltd	1.1%	—	150,000	—	$14.4M
ROPRoper Technologies Inc	1.1%	—	42,000	—	$14.2M
SNSharkninja Inc	1.1%	1.1%	88,000	+37.5%	$13.4M
ZYMEZymeworks Inc	1.0%	3.9%	486,529	-51.7%	$12.7M
VSTVistra Corp	1.0%	—	80,000	—	$12.7M
LFTOLiftoff Mobile Inc	1.0%	—	508,551	—	$12.2M
MSFTMicrosoft Corp	1.0%	1.9%	32,343	+0.0%	$12.1M
MIRMMirum Pharmaceuticals Inc	0.9%	—	101,240	—	$11.9M
BRK-BBerkshire Hathaway Inc Del	0.9%	1.7%	22,468	+0.0%	$11.2M
GOOGLAlphabet Inc	0.9%	1.4%	31,067	+0.0%	$11.1M
AMZNAmazon Com Inc	0.9%	1.4%	44,648	+0.0%	$10.6M
WPPGFWpp PLC	0.8%	—	676,000	—	$10.5M
NWGNatwest Group PLC	0.8%	—	587,290	—	$10.4M
KSPIKaspi Kz Jsc	0.8%	1.4%	118,900	+0.0%	$10.3M
ASAmer Sports Inc	0.8%	0.9%	300,000	+62.2%	$10.2M
COFCapital One Finl Corp	0.8%	—	50,586	—	$10.1M
MXCTMaxcyte Inc	0.8%	0.9%	8,200,000	+0.0%	$10.1M
SYYSysco Corp	0.8%	—	120,000	—	$10.0M
NVSTEnvista Holdings Corporation	0.7%	3.0%	319,028	-57.2%	$8.4M
FRMIFermi Inc	0.6%	—	875,000	—	$8.0M
FIVEFive Below Inc	0.6%	—	42,500	—	$7.6M
METAMeta Platforms Inc	0.6%	1.2%	13,500	+0.0%	$7.6M
MLTXMoonlake Immunotherapeutics	0.6%	—	374,866	—	$7.3M

What Capricorn Fund Managers Ltd bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.8% /yr; S&P 500 +20.1%
3 years: +17.2% /yr; S&P 500 +20.4%
5 years: +8.8% /yr; S&P 500 +13.0%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.3B	167
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

Questions about Capricorn Fund Managers Ltd's portfolio

What stocks does Capricorn Fund Managers Ltd own?

Capricorn Fund Managers Ltd's latest 13F, for Q2 2026 and filed Jul 24, 2026, lists 167 positions worth $1.3B. The largest are Lpl Finl Hldgs Inc (LPLA) at 4.4%, Kkr & Co Inc (KKR) at 3.4%, Bp PLC (BP) at 2.9%, Shell PLC (SHEL) at 2.8% and Applovin Corp (APP) at 2.5%.

What did Capricorn Fund Managers Ltd buy last quarter?

In Q2 2026, Capricorn Fund Managers Ltd added Carvana Co (CVNA) (+400.0% shares), British Amern Tob PLC (BTI) (+196.1% shares) and Kkr & Co Inc (KKR) (+117.0% shares), compared with its Q1 2026 filing.

What did Capricorn Fund Managers Ltd sell last quarter?

In Q2 2026, Capricorn Fund Managers Ltd cut from its top 50 Adaptive Biotechnologies Corp (ADPT), cut from its top 50 Norfolk Southn Corporation (NSC), cut from its top 50 Primerica Inc (PRI), cut from its top 50 Electronic Arts Inc (EA), cut from its top 50 Phibro Animal Health Corp (PAHC), Envista Holdings Corporation (NVST) (-57.2% shares), Zymeworks Inc (ZYME) (-51.7% shares) and Axogen Inc (AXGN) (-32.4% shares), compared with its Q1 2026 filing.

How has Capricorn Fund Managers Ltd's portfolio performed?

A portfolio copying Capricorn Fund Managers Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +17.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.8% against +20.1%. Over 5 years: +8.8% a year against +13.0%.

When is Capricorn Fund Managers Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. Capricorn Fund Managers Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.