Skip to main content
Livermore
Livermore
ZHEN

Capricorn Fund Managers Ltd

SEC CIK
0001901361
Latest filing
Jul 24, 2026

The latest 13F from Capricorn Fund Managers Ltd covers Q2 2026 (filed Jul 24, 2026): 167 long positions worth $1.25B. The top 10 holdings make up 27.4% of the portfolio, and the largest is LPL Financial Holdings Inc. (LPLA) at 4.4%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
94
Est. +$724.7M
Added
29
Est. +$102.8M
Reduced
25
Est. −$116.5M
Sold out
41
Est. −$169.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. LPLALPL Financial Holdings Inc.
    4.4%$54.9MHistory
  2. KKRKKR & Co. Inc.
    3.4%$42.2MHistory
  3. BPBP PLC
    2.9%$36.4MHistory
  4. SHELShell plc
    2.8%$35.6MHistory
  5. APPAppLovin Corp
    2.5%$31.6MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. LPLALPL Financial Holdings Inc.
    +$54.9MNewHistory
  2. BPBP PLC
    +$36.4MNewHistory
  3. SHELShell plc
    +$35.6MNewHistory
  4. APPAppLovin Corp
    +$31.6MNewHistory
  5. BRUNBoost Run Inc.
    +$29.1MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. LPLALPL Financial Holdings Inc.
    +4.39 pp0.0% → 4.4%History
  2. BPBP PLC
    +2.91 pp0.0% → 2.9%History
  3. SHELShell plc
    +2.85 pp0.0% → 2.8%History
  4. APPAppLovin Corp
    +2.52 pp0.0% → 2.5%History
  5. BRUNBoost Run Inc.
    +2.33 pp0.0% → 2.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ADPTAdaptive Biotechnologies Corp
    −$27.2MReducedHistory
  2. NSCNorfolk Southern Corp
    −$17.5MSold outHistory
  3. PRIPrimerica, Inc.
    −$17.0MSold outHistory
  4. EAElectronic Arts Inc.
    −$15.5MSold outHistory
  5. PAHCPhibro Animal Health Corp
    −$14.8MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ZYMEZymeworks Inc.
    −2.91 pp3.9% → 1.0%History
  2. ADPTAdaptive Biotechnologies Corp
    −2.76 pp2.8% → <0.1%History
  3. NSCNorfolk Southern Corp
    −2.73 pp2.7% → 0.0%History
  4. PRIPrimerica, Inc.
    −2.66 pp2.7% → 0.0%History
  5. EAElectronic Arts Inc.
    −2.41 pp2.4% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.25B
+$609.0M (+94.9%) vs. prior quarter
Positions
167
+53 vs. prior quarter
Top 10 concentration
27.4%
Top 10 as share of value
Turnover
30.2%
Q2 2026, one quarter
Average holding period
2.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.25B (Q2 2026)

Q4 2021: $355.5MQ1 2022: $409.9MQ2 2022: $550.9MQ3 2022: $318.5MQ4 2022: $390.7MQ1 2023: $327.3MQ2 2023: $278.5MQ3 2023: $288.2MQ4 2023: $181.8MQ1 2024: $166.1MQ2 2024: $141.8MQ3 2024: $148.5MQ4 2024: $224.7MQ1 2025: $187.1MQ2 2025: $211.6MQ3 2025: $297.8MQ4 2025: $414.9MQ1 2026: $641.4MQ2 2026: $1.25B
Q4 2021Q2 2026
13F filings of Capricorn Fund Managers Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 2026167$1.25BLPLAKKRBPvs. Q1 2026SEC
Q1 2026Apr 24, 2026114$641.4MCVNABACZYMEvs. Q4 2025SEC
Q4 2025Jan 21, 202682$414.9MZYMEWAYGPCRvs. Q3 2025SEC
Q3 2025Oct 17, 202559$297.8MWAYTARSMSFTvs. Q2 2025SEC
Q2 2025Jul 22, 202554$211.6MSNMSFTAMZNvs. Q1 2025SEC
Q1 2025May 8, 202549$187.1MJNJGOOGLSNvs. Q4 2024SEC
Q4 2024Jan 17, 202565$224.7MKSPIGOOGLJNJvs. Q3 2024SEC
Q3 2024Oct 11, 202453$148.5MKSPIJNJGOOGLvs. Q2 2024SEC
Q2 2024Jul 12, 202455$141.8MKSPIMETAJNJvs. Q1 2024SEC
Q1 2024Apr 12, 202456$166.1MKSPIVanguard Morningstar Value ETFNEEvs. Q4 2023SEC
Q4 2023Jan 10, 202455$181.8MiShares TrNVDANUvs. Q3 2023SEC
Q3 2023Oct 11, 202382$288.2MRMDiShares TrMUFGvs. Q2 2023SEC
Q2 2023Jul 12, 202363$278.5MiShares TrHMCiShares Trvs. Q1 2023SEC
Q1 2023Apr 18, 2023104$327.3MiShares TriShares IncATVIvs. Q4 2022SEC
Q4 2022Jan 17, 202383$390.7MBABAiShares TriShares Incvs. Q3 2022SEC
Q3 2022Nov 9, 202285$318.5MBABAiShares TriShares Incvs. Q2 2022SEC
Q2 2022Aug 10, 2022102$550.9MXPEVBIDUBHPvs. Q1 2022SEC
Q1 2022May 10, 202290$409.9MiShares TriShares IncZIPvs. Q4 2021SEC
Q4 2021Feb 14, 202274$355.5MiShares InciShares TrZIP–SEC

13D and 13G filings

Companies where Capricorn Fund Managers Ltd reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where Capricorn Fund Managers Ltd owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
SKINSkinHealth Systems Inc.13G/A17.20%22.3M shares+2.00 ppfrom 15.20%Feb 5, 20262 filingsJul 13, 2026SEC
MXCTMaxcyte, Inc.13G7.70%8.20M sharesNewFeb 5, 20261 filingFeb 5, 2026SEC

Latest filings

5 filings on file made by Capricorn Fund Managers Ltd or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Capricorn Fund Managers Ltd
CompanyFiled (ET)FormStakeChangeEvent dateFiling
KWYKINGSWAY CorpJul 13, 20267:20 AM ET13G/A4.90%1.41M shares−1.70 ppfrom 6.60%Below 5%Jun 30, 2026SEC
SKINSkinHealth Systems Inc.Jul 13, 20267:16 AM ET13G/A17.20%22.3M shares+2.00 ppfrom 15.20%May 15, 2026SEC
MXCTMaxcyte, Inc.Feb 5, 20268:03 AM ET13G7.70%8.20M sharesNewJan 30, 2026SEC
KWYKINGSWAY CorpFeb 5, 20267:37 AM ET13G6.60%1.91M sharesNewJan 30, 2026SEC
SKINSkinHealth Systems Inc.Feb 5, 20267:00 AM ET13G15.20%19.4M sharesNewJan 30, 2026SEC