APEIRON CAPITAL Ltd
Long book
$106.9M
Q1 2026
Positions
12
Top-10 weight
96%
concentration
Last quarter
+18.4%
SPY +14.8%
Turnover
69%
of book per quarter
Strategy in plain words
auto-generated from filingsAPEIRON CAPITAL Ltd is a concentrated fundamental stock-picker, running a $106.9M US long book across 12 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ON HOLDING AG-CLASS A, SUMMIT THERAPEUTICS INC, QFIN HOLDINGS INC-ADR, MICRON TECHNOLOGY INC, UNITY SOFTWARE INC.
Over the last 9 quarters its long book ran on average 5.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-7.3%
Q2 2024
-7.2%
Q3 2024
+8.9%
Q4 2024
-25.8%
Q1 2025
+41.9%
Q2 2025
-10.5%
Q3 2025
-12.6%
Q4 2025
-16.0%
Q1 2026
+18.4%
Sector allocation
Other 41%
Healthcare 30%
Technology 18%
Consumer discretionary 6%
Services media 3%
Financials 2%
Long book by quarter
What does APEIRON CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ONON ON HOLDING AG-CLASS A | Other | 996.1K | $33.9M | 31.7% | +25.2% |
| SMMT SUMMIT THERAPEUTICS INC | Healthcare | 1.3M | $24.8M | 23.2% | 0.0% |
| MU MICRON TECHNOLOGY INC | Technology | 21.9K | $7.4M | 6.9% | New |
| U UNITY SOFTWARE INC | Technology | 250.6K | $5.5M | 5.1% | New |
| AMZN AMAZON.COM INC | Consumer discretionary | 24.5K | $5.1M | 4.8% | New |
| FTAI FTAI AVIATION LTD | Services media | 11.0K | $2.7M | 2.5% | New |
| SNPS SYNOPSYS INC | Technology | 6.0K | $2.4M | 2.2% | New |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 26.0K | $1.8M | 1.7% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 22, 2026 | 13 | $106.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 2, 2026 | 5 | $86.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 28, 2025 | 8 | $210.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 25, 2025 | 5 | $105.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 11 | $217.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 7, 2025 | 13 | $3.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 1, 2024 | 10 | $280.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 11 | $286.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR/ARESTATEMENT | May 21, 2024 | 12 | $197.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 13 | $251.7M | SEC ↗ |
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