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M & L Capital Management Ltd

12A PRINCES GATE MEWS, LONDON, X0 SW7 2PS • 0207 5845733

Q4 2025 · Filed 2026-01-12
Market Value
$469M
-4.6%
Holdings
30
+3
New Purchases
7
Added To
5
Closed
6
Reduced
3
Top 10 Concentration
92.1%
Turnover
43.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LITE 3.07% 0.00% +3.07% $14M
NVDA 46.52% 44.38% +2.14% $218M
CIEN 1.81% 0.15% +1.66% $8M
AVGO 9.70% 8.81% +0.88% $46M
COHR 0.85% 0.00% +0.85% $4M
TKO 0.63% 0.00% +0.63% $3M
ISRG 2.14% 1.61% +0.53% $10M
KRMN 0.73% 0.22% +0.51% $3M
VRT 0.51% 0.00% +0.51% $2M
ROBO 2.74% 2.38% +0.37% $13M
PODD 0.34% 0.00% +0.34% $2M
XOVR 0.24% 0.00% +0.24% $1M
ICLN 0.20% 0.00% +0.20% $961K
CELH 0.52% 0.44% +0.08% $2M
GOOG 0.26% 0.19% +0.07% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ANET 2.40% 7.13% -4.73% $11M
AMD 1.18% 5.29% -4.12% $6M
WDAY 0.00% 0.86% -0.86% $0
HOOD 3.27% 3.94% -0.68% $15M
CRM 0.00% 0.53% -0.53% $0
MSFT 15.48% 15.81% -0.33% $73M
S 0.00% 0.27% -0.27% $0
DELL 2.37% 2.54% -0.18% $11M
KVYO 0.00% 0.14% -0.14% $0
ARKX 0.06% 0.16% -0.09% $296K
AVAV 0.48% 0.58% -0.09% $2M
EQIX 0.00% 0.05% -0.05% $0
MSI 0.00% 0.03% -0.03% $0
SNPS 4.46% 4.47% -0.01% $21M
GRND 0.03% 0.03% -0.00% $141K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 89.4%
Industrials 3.0%
Financial Services 2.4%
Healthcare 2.1%
Communication Services 1.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 5 $343M 73.1%
Large Cap 15 $103M 21.8%
Mid Cap 8 $22M 4.7%
Small Cap 2 $1M 0.3%

Portfolio Analytics

Avg Market Cap
$571.4B
Median Market Cap
$66.7B
Avg P/E
83.0
Median P/E
52.1
Avg Dividend Yield
0.00%
Avg Beta
1.32
# Stocks
26
# ETFs / Funds
4

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 46.52% 1,170,700 $218M $186.50 -$88K
2 MSFT 15.48% 150,200 $73M $483.62 -$5M
3 AVGO 9.70% 131,500 $46M $346.10 $2M
4 SNPS 4.46% 44,550 $21M $469.72 -$1M
5 HOOD 3.27% 135,500 $15M $113.10 -$4M
6 LITE 3.07% 39,150 $14M $368.59 +39,150 NEW
7 ROBO 2.74% 185,810 $13M $69.31 $1M +7,250 +4.1%
8 ANET 2.40% 86,000 $11M $131.03 -$24M -154,800 -64.3%
9 DELL 2.37% 88,300 $11M $125.88 -$1M
10 ISRG 2.14% 17,700 $10M $566.36 $2M
11 CIEN 1.81% 36,250 $8M $233.87 $8M +31,350 +639.8%
12 AMD 1.18% 25,800 $6M $214.16 -$21M -135,200 -84.0%
13 COHR 0.85% 21,700 $4M $184.57 +21,700 NEW
14 KRMN 0.73% 46,729 $3M $73.17 $2M +31,929 +215.7%
15 TKO 0.63% 14,250 $3M $209.00 +14,250 NEW
16 CELH 0.52% 53,400 $2M $45.74 $269K +15,600 +41.3%
17 VRT 0.51% 14,700 $2M $162.01 +14,700 NEW
18 AVAV 0.48% 9,400 $2M $241.89 -$560K +400 +4.4%
19 PODD 0.34% 5,630 $2M $284.24 +5,630 NEW
20 GOOG 0.26% 3,850 $1M $313.80 $270K
21 XOVR 0.24% 56,973 $1M $20.14 +56,973 NEW
22 ICLN 0.20% 58,500 $961K $16.43 +58,500 NEW
23 ARKX 0.06% 10,200 $296K $28.98 -$478K -16,900 -62.4%
24 GRND 0.03% 10,400 $141K $13.54 -$15K
25 KVYO —% -$712K -25,700 -100.0% SOLD
26 CRM —% -$3M -11,000 -100.0% SOLD
27 MSI —% -$126K -275 -100.0% SOLD
28 S —% -$1M -76,000 -100.0% SOLD
29 WDAY —% -$4M -17,600 -100.0% SOLD
30 EQIX —% -$247K -315 -100.0% SOLD

New Positions

SymbolValue% Port
LITE $14M 3.07%
COHR $4M 0.85%
TKO $3M 0.63%
VRT $2M 0.51%
PODD $2M 0.34%
XOVR $1M 0.24%
ICLN $961K 0.20%

Sold Out Positions

SymbolValue% Port
CRM —%
KVYO —%
MSI —%
S —%
EQIX —%
WDAY —%
View SEC EDGAR Filings for M & L Capital Management Ltd →

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