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Capricorn Fund Managers Ltd

2ND FLOOR, MALTA HOUSE 36-38 PICCADILLY, LONDON, X0 W1J 0DP • 00442073174422

Q4 2025 · Filed 2026-01-21
Market Value
$385M
+30.6%
Holdings
102
+28
New Purchases
44
Added To
17
Closed
24
Reduced
14
Top 10 Concentration
34.3%
Turnover
66.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GPCR 4.57% 0.00% +4.57% $18M
NUVB 3.70% 0.00% +3.70% $14M
EXAS 2.55% 0.00% +2.55% $10M
BLFS 2.38% 0.00% +2.38% $9M
ALAB 2.16% 0.00% +2.16% $8M
GH 2.86% 0.77% +2.09% $11M
SHC 2.06% 0.00% +2.06% $8M
EA 2.05% 0.00% +2.05% $8M
NSC 1.88% 0.00% +1.88% $7M
OS 1.82% 0.00% +1.82% $7M
TEX 1.80% 0.00% +1.80% $7M
HQY 1.80% 0.00% +1.80% $7M
GTLS 1.79% 0.00% +1.79% $7M
GKOS 1.76% 0.00% +1.76% $7M
CYBR 1.72% 0.00% +1.72% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VERA 0.00% 4.44% -4.44% $0
TARS 0.47% 4.84% -4.37% $2M
PHR 0.00% 3.87% -3.87% $0
IONS 0.00% 3.61% -3.61% $0
SMMT 0.00% 3.48% -3.48% $0
REAL 1.61% 4.29% -2.68% $6M
AKRO 0.00% 2.40% -2.40% $0
ABBV 0.00% 2.32% -2.32% $0
JNJ 0.00% 2.31% -2.31% $0
SN 0.00% 2.10% -2.10% $0
DOCS 0.00% 1.90% -1.90% $0
META 1.55% 3.25% -1.71% $6M
PAHC 1.79% 3.47% -1.68% $7M
GOOGL 2.53% 3.89% -1.36% $10M
MSFT 3.61% 4.80% -1.19% $14M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Healthcare 28.4%
Consumer Cyclical 20.0%
Financial Services 19.6%
Consumer Defensive 8.6%
Technology 8.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 12 $66M 17.0%
Large Cap 46 $135M 35.2%
Mid Cap 33 $132M 34.4%
Small Cap 11 $52M 13.4%

Portfolio Analytics

Avg Market Cap
$183.7B
Median Market Cap
$12.7B
Avg P/E
36.3
Median P/E
27.3
Avg Dividend Yield
0.01%
Avg Beta
0.96
# Stocks
99
# ETFs / Funds
3

Top Holdings (102 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WAY 6.28% 738,263 $24M $32.75 $5M +233,141 +46.2%
2 GPCR 4.57% 252,600 $18M $69.55 +252,600 NEW
3 NUVB 3.70% 1,588,854 $14M $8.96 +1,588,854 NEW
4 MSFT 3.61% 28,733 $14M $483.62 -$254K +1,415 +5.2%
5 GH 2.86% 107,787 $11M $102.14 $9M +71,587 +197.8%
6 AMZN 2.86% 47,650 $11M $230.82 $1M +3,231 +7.3%
7 KARO 2.82% 238,078 $11M $45.50 $1M +67,322 +39.4%
8 EXAS 2.55% 96,685 $10M $101.56 +96,685 NEW
9 GOOGL 2.53% 31,066 $10M $313.00 -$2M -16,090 -34.1%
10 ROIV 2.51% 445,500 $10M $21.70 $7M +247,000 +124.4%
11 BLFS 2.38% 378,550 $9M $24.18 +378,550 NEW
12 ALAB 2.16% 50,000 $8M $166.36 +50,000 NEW
13 V 2.06% 22,644 $8M $350.71 $1M +2,495 +12.4%
14 SHC 2.06% 449,900 $8M $17.64 +449,900 NEW
15 EA 2.05% 38,549 $8M $204.33 +38,549 NEW
16 NSC 1.88% 25,000 $7M $288.72 +25,000 NEW
17 OS 1.82% 380,000 $7M $18.38 +380,000 NEW
18 TEX 1.80% 130,000 $7M $53.38 +130,000 NEW
19 HQY 1.80% 75,602 $7M $91.61 +75,602 NEW
20 GTLS 1.79% 33,383 $7M $206.23 +33,383 NEW
21 PAHC 1.79% 184,101 $7M $37.36 -$3M -68,827 -27.2%
22 GKOS 1.76% 60,000 $7M $112.91 +60,000 NEW
23 CYBR 1.72% 14,841 $7M $446.06 +14,841 NEW
24 MYTE 1.64% 754,909 $6M $8.35 $583K +81,947 +12.2%
25 REAL 1.61% 392,897 $6M $15.78 -$6M -796,593 -67.0%
26 TERN 1.59% 151,436 $6M $40.40 +151,436 NEW
27 BRK-B 1.55% 11,854 $6M $502.65 -$547K -1,086 -8.4%
28 META 1.55% 9,019 $6M $660.09 -$4M -4,038 -30.9%
29 DAY 1.53% 85,033 $6M $69.16 +85,033 NEW
30 TXNM 1.35% 88,529 $5M $58.88 +88,529 NEW
31 RNAM 1.28% 68,463 $5M $72.13 $4M +57,663 +533.9%
32 KVUE 1.27% 282,485 $5M $17.25 +282,485 NEW
33 LOAR 1.24% 70,000 $5M $68.00 +70,000 NEW
34 WBD 1.23% 163,668 $5M $28.82 +163,668 NEW
35 QSR 1.15% 65,089 $4M $68.23 -$104K -5,779 -8.2%
36 APO 1.12% 29,693 $4M $144.76 $3M +16,386 +123.1%
37 PFE 1.07% 165,569 $4M $24.90 +165,569 NEW
38 APP 1.05% 6,000 $4M $673.82 +6,000 NEW
39 CFLT 1.02% 130,391 $4M $30.24 +130,391 NEW
40 UNP 1.02% 16,890 $4M $231.32 -$390K -1,289 -7.1%
41 HI 1.01% 122,961 $4M $31.72 +122,961 NEW
42 MDGL 1.00% 6,600 $4M $582.34 +6,600 NEW
43 PEP 0.98% 26,166 $4M $143.52 -$1M -10,512 -28.7%
44 BTSG 0.97% 100,000 $4M $37.45 +100,000 NEW
45 KGS 0.97% 100,000 $4M $37.40 +100,000 NEW
46 LIN 0.90% 8,114 $3M $426.39 -$735K -716 -8.1%
47 OXY 0.82% 76,877 $3M $41.12 -$834K -7,676 -9.1%
48 CWAN 0.78% 124,611 $3M $24.12 +124,611 NEW
49 FOLD 0.78% 210,674 $3M $14.24 +210,674 NEW
50 TDG 0.69% 2,000 $3M $1,329.85 +2,000 NEW
51 AXTA 0.67% 80,000 $3M $32.31 +80,000 NEW
52 HYG 0.66% 31,308 $3M $80.63 -$19K -20 -0.1%
53 CVX 0.65% 16,363 $2M $152.41 -$454K -2,622 -13.8%
54 CHWY 0.57% 65,948 $2M $33.05 +65,948 NEW
55 FYBR 0.51% 51,847 $2M $38.07 +51,847 NEW
56 TARS 0.47% 21,982 $2M $81.88 -$12M -218,038 -90.8%
57 IBIT 0.45% 34,601 $2M $49.65 -$69K +7,111 +25.9%
58 JAZZ 0.44% 10,000 $2M $170.00 +10,000 NEW
59 TSHA 0.43% 300,000 $2M $5.50 +300,000 NEW
60 SCHW 0.40% 15,506 $2M $99.91 $249K +1,889 +13.9%
61 BAC 0.36% 25,465 $1M $55.00 $270K +3,545 +16.2%
62 UBER 0.36% 16,843 $1M $81.71 $52K +3,322 +24.6%
63 KSPI 0.35% 17,000 $1M $78.13 -$60K
64 BN 0.34% 28,112 $1M $45.89 $193K +12,112 +75.7%
65 LQD 0.33% 11,442 $1M $110.19 -$10K +40 +0.3%
66 BUR 0.31% 135,000 $1M $8.92 $8K +35,000 +35.0%
67 PYPL 0.31% 20,162 $1M $58.38 -$1M -15,905 -44.1%
68 DIS 0.31% 10,332 $1M $113.77 +10,332 NEW
69 CCEP 0.30% 12,600 $1M $90.70 +12,600 NEW
70 WH 0.27% 13,920 $1M $75.56 -$60K
71 EVMN 0.27% 60,000 $1M $17.12 +60,000 NEW
72 DNLI 0.27% 62,197 $1M $16.51 +62,197 NEW
73 KVYO 0.17% 20,000 $649K $32.47 +20,000 NEW
74 BETA 0.15% 20,000 $564K $28.21 +20,000 NEW
75 TGNA 0.06% 12,435 $241K $19.41 +12,435 NEW
76 ASC 0.04% 14,000 $148K $10.59 +14,000 NEW
77 TALO 0.04% 12,500 $138K $11.02 +12,500 NEW
78 HEPS 0.02% 29,185 $72K $2.48 -$6K
79 RL —% -$3M -10,000 -100.0% SOLD
80 SMMT —% -$10M -496,266 -100.0% SOLD
81 COCO —% -$3M -65,515 -100.0% SOLD
82 LEVI —% -$1M -50,000 -100.0% SOLD
83 NKE —% -$3M -45,920 -100.0% SOLD
84 TJX —% -$3M -18,000 -100.0% SOLD
85 ADT —% -$1M -125,000 -100.0% SOLD
86 RBLX —% -$3M -19,605 -100.0% SOLD
87 IONS —% -$11M -162,800 -100.0% SOLD
88 DOCS —% -$6M -76,738 -100.0% SOLD
89 CPRI —% -$996K -50,000 -100.0% SOLD
90 SN —% -$6M -60,000 -100.0% SOLD
91 BTI —% -$3M -65,000 -100.0% SOLD
92 SPOT —% -$3M -4,537 -100.0% SOLD
93 TPR —% -$3M -26,000 -100.0% SOLD
94 AKRO —% -$7M -149,200 -100.0% SOLD
95 ULTA —% -$3M -5,500 -100.0% SOLD
96 JNJ —% -$7M -36,760 -100.0% SOLD
97 VERA —% -$13M -450,700 -100.0% SOLD
98 FIVE —% -$2M -16,000 -100.0% SOLD
99 PHR —% -$11M -484,500 -100.0% SOLD
100 ONON —% -$2M -50,000 -100.0% SOLD

New Positions

SymbolValue% Port
GPCR $18M 4.57%
NUVB $14M 3.70%
EXAS $10M 2.55%
BLFS $9M 2.38%
ALAB $8M 2.16%
SHC $8M 2.06%
EA $8M 2.05%
NSC $7M 1.88%
OS $7M 1.82%
TEX $7M 1.80%
HQY $7M 1.80%
GTLS $7M 1.79%
GKOS $7M 1.76%
CYBR $7M 1.72%
TERN $6M 1.59%

Sold Out Positions

SymbolValue% Port
DECK —%
CPRI —%
SPOT —%
ABBV —%
ONON —%
BTI —%
RL —%
PHR —%
SN —%
TPR —%
NKE —%
LEVI —%
DOCS —%
TJX —%
ADT —%
View SEC EDGAR Filings for Capricorn Fund Managers Ltd →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms