Capricorn Fund Managers Ltd
Long book
$641.4M
Q1 2026
Positions
114
Top-10 weight
33%
concentration
Last quarter
+14.4%
SPY +14.8%
Turnover
71%
of book per quarter
Strategy in plain words
auto-generated from filingsCapricorn Fund Managers Ltd is a diversified fundamental manager, running a $641.4M US long book across 114 positions.
The portfolio is moderately concentrated (top 10 ≈ 33% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: CARVANA CO, BANK OF AMERICA CORP, ZYMEWORKS INC, AXOGEN INC, KKR & CO INC.
Over the last 9 quarters its long book ran on average 0.6pp 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
+2.8%
Q2 2024
+4.2%
Q3 2024
+6.9%
Q4 2024
-8.9%
Q1 2025
+4.9%
Q2 2025
+13.4%
Q3 2025
+5.9%
Q4 2025
-8.4%
Q1 2026
+14.4%
Sector allocation
Healthcare 32%
Financials 20%
Technology 12%
Consumer discretionary 11%
Other 8%
Industrials 8%
Consumer staples 3%
Utilities 2%
Long book by quarter
What does Capricorn Fund own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CVNA CARVANA CO | Consumer discretionary | 95.0K | $29.9M | 4.7% | New |
| BAC BANK OF AMERICA CORP | Financials | 537.0K | $26.2M | 4.1% | +2008.8% |
| ZYME ZYMEWORKS INC | Healthcare | 1.0M | $25.2M | 3.9% | -1.5% |
| AXGN AXOGEN INC | Healthcare | 687.6K | $22.8M | 3.6% | New |
| KKR KKR & CO INC | Financials | 212.0K | $19.6M | 3.1% | New |
| NVST ENVISTA HOLDINGS CORP | Healthcare | 746.2K | $18.9M | 3.0% | New |
| KWY KINGSWAY CORP | Financials | 1.8M | $18.6M | 2.9% | New |
| ADPT ADAPTIVE BIOTECHNOLOGIES | Healthcare | 1.3M | $17.9M | 2.8% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 61.1K | $17.5M | 2.7% | +144.5% |
| SKIN SKINHEALTH SYSTEMS INC | Healthcare | 19.4M | $17.3M | 2.7% | New |
| PRI PRIMERICA INC | Financials | 68.0K | $17.0M | 2.7% | New |
| EA ELECTRONIC ARTS INC | Technology | 75.9K | $15.5M | 2.4% | +96.9% |
| PAHC PHIBRO ANIMAL HEALTH CORP-A | Healthcare | 267.0K | $14.8M | 2.3% | +45.1% |
| ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 369.4K | $14.5M | 2.3% | New |
| KARO KAROOOOO LTD | Technology | 278.3K | $13.9M | 2.2% | +16.9% |
| MSFT MICROSOFT CORP | Technology | 32.3K | $12.0M | 1.9% | +12.6% |
| GTLS CHART INDUSTRIES INC | Industrials | 57.0K | $11.8M | 1.8% | +70.7% |
| BLND BLEND LABS INC-A | Technology | 6.5M | $11.0M | 1.7% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 22.5K | $10.8M | 1.7% | +89.5% |
| LQDA LIQUIDIA CORP | Healthcare | 247.4K | $9.3M | 1.5% | New |
| AMZN AMAZON.COM INC | Consumer discretionary | 44.6K | $9.3M | 1.4% | -6.3% |
| GOOGL ALPHABET INC-CL A | Technology | 31.1K | $8.9M | 1.4% | 0.0% |
| TXNM TXNM ENERGY INC | Utilities | 151.0K | $8.8M | 1.4% | +70.6% |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 123.5K | $8.6M | 1.3% | New |
| PEP PEPSICO INC | Consumer staples | 53.5K | $8.3M | 1.3% | +104.6% |
| A AGILENT TECHNOLOGIES INC | Healthcare | 71.6K | $8.2M | 1.3% | New |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 47.4K | $8.1M | 1.3% | New |
| META META PLATFORMS INC-CLASS A | Technology | 13.5K | $7.7M | 1.2% | +49.7% |
| AM6 AMICUS THERAPEUTICS INC | — | 534.1K | $7.7M | 1.2% | +153.5% |
| TROW T ROWE PRICE GROUP INC | Financials | 83.5K | $7.5M | 1.2% | New |
| SN SHARKNINJA INC | Industrials | 64.0K | $6.8M | 1.1% | New |
| AS AMER SPORTS INC | Other | 185.0K | $6.1M | 0.9% | +711.4% |
| ABBV ABBVIE INC | Healthcare | 27.4K | $6.0M | 0.9% | New |
| V VISA INC-CLASS A SHARES | Services media | 19.6K | $5.9M | 0.9% | -13.6% |
| MXCT MAXCYTE INC | Healthcare | 8.2M | $5.8M | 0.9% | New |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 51.0K | $5.7M | 0.9% | +71.8% |
| ROST ROSS STORES INC | Consumer discretionary | 23.0K | $5.0M | 0.8% | New |
| REAL REALREAL INC/THE | Consumer discretionary | 548.7K | $5.0M | 0.8% | +39.7% |
| HO1 HOLOGIC INC | — | 64.9K | $4.9M | 0.8% | New |
| EAT BRINKER INTERNATIONAL INC | Consumer discretionary | 34.0K | $4.9M | 0.8% | New |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 65.1K | $4.8M | 0.7% | Held |
| ONON ON HOLDING AG-CLASS A | Other | 139.6K | $4.7M | 0.7% | New |
| PFE PFIZER INC | Healthcare | 165.7K | $4.7M | 0.7% | +0.1% |
| RL RALPH LAUREN CORP | Other | 13.3K | $4.6M | 0.7% | New |
| COCO VITA COCO CO INC/THE | Consumer staples | 95.0K | $4.6M | 0.7% | New |
| BTSG BRIGHTSPRING HEALTH SERVICES | Healthcare | 106.2K | $4.5M | 0.7% | +6.2% |
| MASI* MASIMO CORP | — | 22.8K | $4.1M | 0.6% | New |
| DECK DECKERS OUTDOOR CORP | Other | 40.0K | $4.0M | 0.6% | New |
| PPB FLUTTER ENTERTAINMENT PLC-DI | — | 36.0K | $3.7M | 0.6% | New |
| TPR TAPESTRY INC | Other | 24.0K | $3.4M | 0.5% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 114 | $641.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 21, 2026 | 83 | $414.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 17, 2025 | 59 | $297.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 55 | $211.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 49 | $187.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 17, 2025 | 65 | $224.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 11, 2024 | 53 | $148.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 12, 2024 | 55 | $141.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 56 | $166.1M | canonical | SEC ↗ |
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