Capricorn Investment Group LLC
Long book
$601.5M
Q1 2026
Positions
7
Top-10 weight
100%
concentration
Last quarter
+11.6%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsCapricorn Investment Group LLC is a diversified fundamental manager, running a $601.5M US long book across 7 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: JOBY AVIATION INC, PLANET LABS PBC, QUANTUMSCAPE CORP, NAVITAS SEMICONDUCTOR CORP, BLUE OWL TECHNOLOGY FINANCE.
Over the last 9 quarters its long book ran on average 9.9pp per quarter ahead of 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
-9.6%
Q2 2024
+3.0%
Q3 2024
+42.8%
Q4 2024
-26.3%
Q1 2025
+74.3%
Q2 2025
+58.0%
Q3 2025
-8.5%
Q4 2025
-16.2%
Q1 2026
+11.6%
Sector allocation
Technology 46%
Industrials 41%
Other 12%
Healthcare 1%
Long book by quarter
What does Capricorn Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| JOBY JOBY AVIATION INC | Industrials | 28.5M | $244.9M | 40.7% | Held |
| PL PLANET LABS PBC | Technology | 5.4M | $125.0M | 20.8% | -25.0% |
| QS QUANTUMSCAPE CORP | Technology | 11.5M | $78.7M | 13.1% | Held |
| NVTS NAVITAS SEMICONDUCTOR CORP | Technology | 8.0M | $71.2M | 11.8% | Held |
| OTF BLUE OWL TECHNOLOGY FINANCE | — | 5.6M | $69.8M | 11.6% | +3.8% |
| HTFL HEARTFLOW INC | Healthcare | 256.7K | $6.5M | 1.1% | -84.6% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 7 | $601.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 7 | $826.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 5 | $840.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 5 | $610.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 7 | $462.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 7 | $532.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 8 | $406.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 8 | $391.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 8 | $429.7M | canonical | SEC ↗ |
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