Capricorn Fund Managers Ltd 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Capricorn Fund Managers Ltd disclosed 82 US equity positions worth $414.9m in its Q4 2025 13F filing. The largest position was ZYME at 6.5% of the reported book, followed by WAY and GPCR. Against the Q3 2025 filing, it opened 30 new positions, added to 10 and reduced 10 among the top 50 holdings.
What did Capricorn Fund Managers Ltd own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ZYME Zymeworks | Healthcare | 6.5% | $26.9m | 1,022,840 | – | new |
| 2 | WAY WAYSTAR HOLDING ORD | Healthcare | 5.8% | $24.2m | 738,263 | 46% | added |
| 3 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 4.2% | $17.6m | 252,600 | – | new |
| 4 | NUVB Nuvation Bio | Healthcare | 3.4% | $14.2m | 1,588,854 | – | new |
| 5 | MSFT Microsoft Corp | Technology | 3.3% | $13.9m | 28,733 | 5% | added |
| 6 | GH Guardant Health | Healthcare | 2.7% | $11.0m | 107,787 | 198% | added |
| 7 | AMZN Amazon.com | Consumer Cyclical | 2.7% | $11.0m | 47,650 | 7% | added |
| 8 | KARO Karooooo Ltd | 2.6% | $10.8m | 238,078 | 39% | added | |
| 9 | EXK Exact Sciences Corp | Basic Materials | 2.4% | $9.8m | 96,685 | – | new |
| 10 | GOOGL Alphabet Inc - Class A | Communication Services | 2.3% | $9.7m | 31,066 | -34% | reduced |
| 11 | ROIV Roivant Sciences Ltd | Healthcare | 2.3% | $9.7m | 445,500 | 124% | added |
| 12 | BLFS BioLife Solutions | Healthcare | 2.2% | $9.2m | 378,550 | – | new |
| 13 | ALAB ASTERA LABS ORD | Technology | 2.0% | $8.3m | 50,000 | – | new |
| 14 | V VISA | Financial Services | 1.9% | $7.9m | 22,644 | 12% | added |
| 15 | SHC Sotera Health Company | Healthcare | 1.9% | $7.9m | 449,900 | – | new |
| 16 | EA Electronic Arts | Communication Services | 1.9% | $7.9m | 38,549 | – | new |
| 17 | NSC Norfolk Southern Corp | Industrials | 1.7% | $7.2m | 25,000 | – | new |
| 18 | K4F ONESTREAM INC | 1.7% | $7.0m | 380,000 | – | new | |
| 19 | TEX Terex Corp | Industrials | 1.7% | $6.9m | 130,000 | – | new |
| 20 | HQY HealthEquity | Healthcare | 1.7% | $6.9m | 75,602 | – | new |
| 21 | Chart Industries | 1.7% | $6.9m | 33,383 | – | new | |
| 22 | PAHC Phibro Animal Health Corp | Healthcare | 1.7% | $6.9m | 184,101 | -27% | reduced |
| 23 | GKOS Glaukos Corp | Healthcare | 1.6% | $6.8m | 60,000 | – | new |
| 24 | CyberArk Software Ltd | 1.6% | $6.6m | 14,841 | – | new | |
| 25 | LUXE LUXEXPERIENCE ADS REP ORD | 1.5% | $6.3m | 754,909 | 12% | added | |
| 26 | REAL RealReal (The) | Consumer Cyclical | 1.5% | $6.2m | 392,897 | -67% | reduced |
| 27 | 430 Terns Pharmaceuticals | 1.5% | $6.1m | 151,436 | – | new | |
| 28 | BRK/B Berkshire Hathaway | 1.4% | $6.0m | 11,854 | -8% | reduced | |
| 29 | META Meta Platforms | Communication Services | 1.4% | $6.0m | 9,019 | -31% | reduced |
| 30 | DAY DAYFORCE ORD | 1.4% | $5.9m | 85,033 | – | new | |
| 31 | TXNM TXNM ENERGY ORD | Utilities | 1.3% | $5.2m | 88,529 | – | new |
| 32 | RNAGBP Avidity Biosciences | 1.2% | $4.9m | 68,463 | 534% | added | |
| 33 | KVUE KENVUE ORD | Consumer Defensive | 1.2% | $4.9m | 282,485 | – | new |
| 34 | LOAR LOAR HOLDINGS ORD | 1.1% | $4.8m | 70,000 | – | new | |
| 35 | WBD Warner Bros Discovery | Communication Services | 1.1% | $4.7m | 163,668 | – | new |
| 36 | QSR Restaurant Brands International | Consumer Cyclical | 1.1% | $4.4m | 65,089 | -8% | reduced |
| 37 | APO Apollo Global Management | Financial Services | 1.0% | $4.3m | 29,693 | 123% | added |
| 38 | PFE Pfizer | Healthcare | 1.0% | $4.1m | 165,569 | – | new |
| 39 | APP Applovin Corp | Communication Services | 1.0% | $4.0m | 6,000 | – | new |
| 40 | 8QR Confluent | 1.0% | $3.9m | 130,391 | – | new | |
| 41 | UNP Union Pacific Corp | Industrials | 0.9% | $3.9m | 16,890 | -7% | reduced |
| 42 | 9HI Hillenbrand | 0.9% | $3.9m | 122,961 | – | new | |
| 43 | MDGL Madrigal Pharmaceuticals | Healthcare | 0.9% | $3.8m | 6,600 | – | new |
| 44 | PEP PepsiCo | Consumer Defensive | 0.9% | $3.8m | 26,166 | -29% | reduced |
| 45 | BTSG BRIGHTSPRING HEALTH SVCS INC | Healthcare | 0.9% | $3.7m | 100,000 | – | new |
| 46 | KGS KODIAK GAS SVCS INC | Energy | 0.9% | $3.7m | 100,000 | – | new |
| 47 | LIN Linde plc | Basic Materials | 0.8% | $3.5m | 8,114 | -8% | reduced |
| 48 | OXY Occidental Petroleum Corp | Energy | 0.8% | $3.2m | 76,877 | -9% | reduced |
| 49 | CWAN Clearwater Analytics Holdings | Technology | 0.7% | $3.0m | 124,611 | – | new |
| 50 | AM6 Amicus Therapeutics | 0.7% | $3.0m | 210,674 | – | 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.