1y return+21.6%S&P 500 +20.9%
3y return+42.7%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $119 against $157 in the S&P 500.2
Capricorn Fund Managers LtdS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| LPLALPL Financial Holdings | $54.9M | 4.4% | New |
| KKRKKR & Co | $42.2M | 3.4% | +117.0% |
| BPBP plc | $36.4M | 2.9% | New |
| SHELShell plc | $35.6M | 2.8% | New |
| APPApplovin Corp | $31.6M | 2.5% | New |
| CVNACarvana Co | $31.3M | 2.5% | |
| BRUNBoost Run Inc-cl A | $29.1M | 2.3% | New |
| INGING Groep NV | $28.2M | 2.3% | New |
| BTIBritish American Tobacco plc | $26.9M | 2.1% | +196.1% |
| BACBank of America Corp | $26.1M | 2.1% | −14.8% |
| BKDBrookdale Senior Living | $25.3M | 2.0% | New |
| AMGAffiliated Managers Group | $23.4M | 1.9% | New |
| GSKGSK plc | $22.4M | 1.8% | New |
| NRGNRG Energy | $22.1M | 1.8% | New |
| AXGNAxogen | $21.5M | 1.7% | −32.4% |
| TSMTaiwan Semiconductor Manufacturing Company Ltd | $21.1M | 1.7% | New |
| RDDTReddit Cl A Ord | $20.8M | 1.7% | New |
| BLNDBlend Labs | $19.3M | 1.5% | +74.1% |
| TVTXTravere Therapeutics | $18.3M | 1.5% | New |
| AVGOBroadcom | $17.9M | 1.4% | New |
| TROWT Rowe Price Group | $17.7M | 1.4% | +86.0% |
| FDSFactset Research Systems | $17.1M | 1.4% | New |
| Karooooo LtdCUSIP Y4600W108 | $15.8M | 1.3% | +14.7% |
| Beauty Health Company (The)CUSIP 88331L108 | $15.4M | 1.2% | +14.8% |
| RIORio Tinto plc | $15.2M | 1.2% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc - Class A | September 30, 2023 | +173.1% | $11.1M |
| LQDALiquidia Corp | March 31, 2026 | +111.3% | $14.5M |
| Sharkninja OrdCUSIP G8068L108 | March 31, 2026 | +43.8% | $13.4M |
| BRK/BBerkshire Hathaway | March 31, 2022 | +41.8% | $11.2M |
| AXGNAxogen | March 31, 2026 | +39.4% | $21.5M |
| TROWT Rowe Price Group | March 31, 2026 | +26.1% | $17.7M |
| MSFTMicrosoft Corp | December 31, 2021 | +10.9% | $12.1M |
| BACBank of America Corp | September 30, 2025 | +10.4% | $26.1M |
| Karooooo LtdCUSIP Y4600W108 | December 31, 2024 | +9.3% | $15.8M |
| AMZNAmazon.com | June 30, 2025 | +8.6% | $10.6M |
Sold off last quarter
- NSCNorfolk Southern Corp was $17.5M
- PRIPrimerica was $17.0M
- Electronic ArtsCUSIP 285512109 was $15.5M
- PAHCPhibro Animal Health Corp was $14.8M
- ELVNEnliven Therapeutics Ord was $14.5M
- Chart IndustriesCUSIP 16115Q308 was $11.8M
- TXNMTxnm Energy Ord was $8.8M
- ALGNAlign Technology was $8.1M
- Amicus TherapeuticsCUSIP 03152W109 was $7.7M
- HologicCUSIP 436440101 was $4.9M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +11.1% | +14.8% |
| March 31, 2026 | −7.4% | −4.6% |
| December 31, 2025 | +4.5% | +2.4% |
| September 30, 2025 | +13.1% | +7.8% |
| June 30, 2025 | +5.3% | +10.5% |
| March 31, 2025 | −9.2% | −4.6% |
| December 31, 2024 | −0.8% | +2.1% |
| September 30, 2024 | +3.7% | +5.4% |
| June 30, 2024 | +1.5% | +4.0% |
| March 31, 2024 | +13.7% | +10.0% |
| December 31, 2023 | +5.1% | +11.2% |
| September 30, 2023 | −1.7% | −3.6% |
| June 30, 2023 | +2.6% | +8.3% |
| March 31, 2023 | +6.1% | +7.0% |
| December 31, 2022 | +11.4% | +7.1% |
| September 30, 2022 | −13.6% | −5.3% |
| June 30, 2022 | −15.8% | −16.5% |
| March 31, 2022 | −5.8% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Capricorn Fund Managers Ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1901361&type=13F-HR&dateb=&owner=include&count=40CIK 1901361
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1901361/000190136126000014/Filed July 24, 2026 · accession 0001901361-26-000014