Capricorn Fund Managers Ltd 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Capricorn Fund Managers Ltd disclosed 59 US equity positions worth $297.8m in its Q3 2025 13F filing. The largest position was WAY at 6.4% of the reported book, followed by TARS and MSFT. Against the Q2 2025 filing, it opened 20 new positions, added to 7 and reduced 21 among the top 50 holdings.
What did Capricorn Fund Managers Ltd own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | WAY WAYSTAR HOLDING ORD | Healthcare | 6.4% | $19.2m | 505,122 | – | new |
| 2 | TARS Tarsus Pharmaceuticals | Healthcare | 4.8% | $14.3m | 240,020 | – | new |
| 3 | MSFT Microsoft Corp | Technology | 4.8% | $14.1m | 27,318 | 26% | added |
| 4 | VERA VERA THERAPEUTICS CL A ORD | Healthcare | 4.4% | $13.1m | 450,700 | – | new |
| 5 | REAL RealReal (The) | Consumer Cyclical | 4.2% | $12.6m | 1,189,490 | -26% | reduced |
| 6 | GOOGL Alphabet Inc - Class A | Communication Services | 3.8% | $11.5m | 47,156 | -4% | reduced |
| 7 | PHR Phreesia | Healthcare | 3.8% | $11.4m | 484,500 | – | new |
| 8 | IONS Ionis Pharmaceuticals | Healthcare | 3.6% | $10.7m | 162,800 | – | new |
| 9 | SMMT Summit Therapeutics | Healthcare | 3.4% | $10.3m | 496,266 | – | new |
| 10 | PAHC Phibro Animal Health Corp | Healthcare | 3.4% | $10.2m | 252,928 | – | new |
| 11 | KARO Karooooo Ltd | 3.3% | $9.8m | 170,756 | 10% | added | |
| 12 | AMZN Amazon.com | Consumer Cyclical | 3.3% | $9.8m | 44,419 | -3% | reduced |
| 13 | META Meta Platforms | Communication Services | 3.2% | $9.6m | 13,057 | 43% | added |
| 14 | Akero Therapeutics | 2.4% | $7.1m | 149,200 | – | new | |
| 15 | V VISA | Financial Services | 2.3% | $6.9m | 20,149 | 11% | added |
| 16 | ABBV ABBVIE | Healthcare | 2.3% | $6.8m | 29,535 | -6% | reduced |
| 17 | JNJ Johnson & Johnson | Healthcare | 2.3% | $6.8m | 36,760 | – | new |
| 18 | BRK/B Berkshire Hathaway | 2.2% | $6.5m | 12,940 | -5% | reduced | |
| 19 | SN SHARKNINJA ORD | Consumer Cyclical | 2.1% | $6.2m | 60,000 | -54% | reduced |
| 20 | LUXE LUXEXPERIENCE ADS REP ORD | 1.9% | $5.7m | 672,962 | 7% | added | |
| 21 | DOCS Doximity | Healthcare | 1.9% | $5.6m | 76,738 | – | new |
| 22 | PEP PepsiCo | Consumer Defensive | 1.7% | $5.2m | 36,678 | 81% | added |
| 23 | QSR Restaurant Brands International | Consumer Cyclical | 1.5% | $4.5m | 70,868 | -5% | reduced |
| 24 | UNP Union Pacific Corp | Industrials | 1.4% | $4.3m | 18,179 | -5% | reduced |
| 25 | LIN Linde plc | Basic Materials | 1.4% | $4.2m | 8,830 | -5% | reduced |
| 26 | OXY Occidental Petroleum Corp | Energy | 1.3% | $4.0m | 84,553 | -5% | reduced |
| 27 | BTI British American Tobacco plc | Consumer Defensive | 1.2% | $3.5m | 65,000 | -52% | reduced |
| 28 | NKE Nike | Consumer Cyclical | 1.1% | $3.2m | 45,920 | – | new |
| 29 | SPOT Spotify Technology SA | Communication Services | 1.1% | $3.2m | 4,537 | – | new |
| 30 | RL Ralph Lauren Corp | Consumer Cyclical | 1.1% | $3.1m | 10,000 | -68% | reduced |
| 31 | AS AMER SPORTS ORD | Consumer Cyclical | 1.1% | $3.1m | 90,000 | -33% | reduced |
| 32 | ULTA Ulta Beauty | Consumer Cyclical | 1.0% | $3.0m | 5,500 | – | new |
| 33 | ROIV Roivant Sciences Ltd | Healthcare | 1.0% | $3.0m | 198,500 | – | new |
| 34 | CVX Chevron Corp | Energy | 1.0% | $2.9m | 18,985 | -1% | reduced |
| 35 | TPR Tapestry | Consumer Cyclical | 1.0% | $2.9m | 26,000 | -73% | reduced |
| 36 | COCO Vita Coco Company (The) | Consumer Defensive | 0.9% | $2.8m | 65,515 | -53% | reduced |
| 37 | RBLX Roblox Corp | Communication Services | 0.9% | $2.7m | 19,605 | – | new |
| 38 | TJX TJX Companies | Consumer Cyclical | 0.9% | $2.6m | 18,000 | -57% | reduced |
| 39 | HYG iShares iBoxx $ High Yield | 0.9% | $2.5m | 31,328 | – | new | |
| 40 | DECK Deckers Outdoor Corp | Consumer Cyclical | 0.9% | $2.5m | 25,000 | -62% | reduced |
| 41 | FIVE Five Below | Consumer Cyclical | 0.8% | $2.5m | 16,000 | – | new |
| 42 | PYPL PayPal Holdings | Financial Services | 0.8% | $2.4m | 36,067 | -35% | reduced |
| 43 | GH Guardant Health | Healthcare | 0.8% | $2.3m | 36,200 | – | new |
| 44 | On Holding AG | 0.7% | $2.1m | 50,000 | -7% | reduced | |
| 45 | IBIT ISHARES BITCOIN ETF | 0.6% | $1.8m | 27,490 | 0% | held | |
| 46 | APO Apollo Global Management | Financial Services | 0.6% | $1.8m | 13,307 | – | new |
| 47 | KSPI JSC KASPI GLOBAL SPON ADS REP ORD | 0.5% | $1.4m | 17,000 | 0% | held | |
| 48 | UBER Uber Technologies | Technology | 0.4% | $1.3m | 13,521 | -10% | reduced |
| 49 | SCHW Charles Schwab Corp (The) | Financial Services | 0.4% | $1.3m | 13,617 | 7% | added |
| 50 | LQD iShares iBoxx $ Investment Grade | 0.4% | $1.3m | 11,402 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.