Capricorn Fund Managers Ltd reported 124 positions worth $1.03B for the quarter ended Sep 30, 2026, down 15.9% on the prior quarter. It opened 39 new positions, added to 39, trimmed 35 and exited 80. Its largest holding is Shell plc at 3.7% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| LNC Lincoln National Corp | +820.0K | – | $33.01M | 3.22% |
| C Citigroup Inc | +205.0K | – | $26.54M | 2.59% |
| XENE Xenon Pharmaceuticals Inc. | +547.9K | +2,621.5% | $20.38M | 2.06% |
| ROIV Roivant Sciences Ltd. | +497.3K | +1,240.2% | $18.19M | 1.91% |
| CPAY Corpay, Inc. | +44.0K | – | $17.10M | 1.67% |
| NOK Nokia Corp | +1.68M | +3,015.2% | $17.03M | 1.71% |
| MSFT Microsoft Corp | +33.2K | +102.6% | $17.02M | 3.27% |
| FIGR Figure Technology Solutions, Inc. | +505.0K | – | $14.57M | 1.42% |
| BURL Burlington Stores, Inc. | +53.0K | +407.6% | $14.16M | 1.72% |
| CPRT Copart Inc | +500.0K | – | $13.64M | 1.33% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| KKR KKR & Co. Inc. | -438.8K | -95.4% | $40.06M | 0.189% |
| BP Bp Plc | -834.2K | -84.8% | $36.70M | 0.643% |
| LPLA LPL Financial Holdings Inc. | -107.3K | -55.1% | $32.80M | 2.61% |
| APP AppLovin Corp | -61.3K | -100.0% | $31.57M | Exited |
| ING Ing Groep Nv | -900.0K | -100.0% | $28.24M | Exited |
| GSK GSK plc | -426.4K | -100.0% | $22.35M | Exited |
| NRG Nrg Energy, Inc. | -151.0K | -100.0% | $22.06M | Exited |
| TVTX Travere Therapeutics, Inc. | -321.7K | -100.0% | $18.28M | Exited |
| AVGO Broadcom Inc. | -47.5K | -100.0% | $17.94M | Exited |
| SKIN SkinHealth Systems Inc. | -1.11M | -100.0% | $15.43M | Exited |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| LNC Lincoln National Corp | +820.0K | $33.01M | 3.22% |
| C Citigroup Inc | +205.0K | $26.54M | 2.59% |
| CPAY Corpay, Inc. | +44.0K | $17.10M | 1.67% |
| FIGR Figure Technology Solutions, Inc. | +505.0K | $14.57M | 1.42% |
| CPRT Copart Inc | +500.0K | $13.64M | 1.33% |
| MKSI Mks Inc | +45.0K | $11.94M | 1.16% |
| IT Gartner Inc | +60.0K | $11.19M | 1.09% |
| BHVN Biohaven Ltd. | +764.8K | $10.21M | 0.994% |
| NICE NICE Ltd. | +89.6K | $9.97M | 0.971% |
| MRX Marex Group Ltd | +141.2K | $9.85M | 0.959% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| APP AppLovin Corp | -61.3K | $31.57M | 2.59% |
| ING Ing Groep Nv | -900.0K | $28.24M | 2.31% |
| GSK GSK plc | -426.4K | $22.35M | 1.83% |
| NRG Nrg Energy, Inc. | -151.0K | $22.06M | 1.81% |
| TVTX Travere Therapeutics, Inc. | -321.7K | $18.28M | 1.5% |
| AVGO Broadcom Inc. | -47.5K | $17.94M | 1.47% |
| SKIN SkinHealth Systems Inc. | -1.11M | $15.43M | 1.26% |
| RIO Rio Tinto Plc | -160.3K | $15.21M | 1.25% |
| LQDA Liquidia Corp | -182.2K | $14.53M | 1.19% |
| ROP Roper Technologies Inc | -42.0K | $14.22M | 1.16% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | SHEL Shell plc | Energy | 400.0K | $38.02M | 3.7% | -59.2K | -12.9% | Reduced | 0.01% |
| 2 | MSFT Microsoft Corp | Technology | 65.5K | $33.61M | 3.27% | +33.2K | +102.6% | Added | 0% |
| 3 | LNC Lincoln National Corp | Financial Services | 820.0K | $33.01M | 3.22% | +820.0K | – | New | 0.43% |
| 4 | CVNA Carvana Co. | Consumer Discretionary | 523.1K | $32.72M | 3.19% | +48.1K | +10.1% | Added | 0.05% |
| 5 | BAC Bank Of America Corp | Financial Services | 512.5K | $27.90M | 2.72% | +55.0K | +12.0% | Added | 0.01% |
| 6 | LPLA LPL Financial Holdings Inc. | Financial Services | 87.6K | $26.77M | 2.61% | -107.3K | -55.1% | Reduced | 0.11% |
| 7 | C Citigroup Inc | Others | 205.0K | $26.54M | 2.59% | +205.0K | – | New | 0.01% |
| 8 | XENE Xenon Pharmaceuticals Inc. | Healthcare | 568.8K | $21.15M | 2.06% | +547.9K | +2,621.5% | Added | 0.57% |
| 9 | TSM Taiwan Semiconductor Manufacturing Co Ltd | Technology | 44.2K | $20.16M | 1.96% | 0 | 0.0% | Unchanged | 0% |
| 10 | ROIV Roivant Sciences Ltd. | Healthcare | 537.4K | $19.65M | 1.91% | +497.3K | +1,240.2% | Added | 0.07% |
| 11 | FDS Factset Research Systems Inc | Financial Services | 72.0K | $19.45M | 1.89% | -2,461 | -3.3% | Reduced | 0.2% |
| 12 | AMG Affiliated Managers Group, Inc. | Financial Services | 52.5K | $19.19M | 1.87% | -16.5K | -24.0% | Reduced | 0.2% |
| 13 | BURL Burlington Stores, Inc. | Consumer Discretionary | 66.0K | $17.63M | 1.72% | +53.0K | +407.6% | Added | 0.1% |
| 14 | NOK Nokia Corp | Others | 1.74M | $17.60M | 1.71% | +1.68M | +3,015.2% | Added | 0.03% |
| 15 | GH Guardant Health, Inc. | Healthcare | 97.1K | $17.32M | 1.69% | +65.3K | +205.6% | Added | 0.07% |
Tip. Select a row to see that position’s full history at Capricorn Fund Managers.
As of its Q3 2026 13F filing, Capricorn Fund Managers Ltd’s five largest positions were Shell plc (SHEL) at 3.7%, Microsoft Corp (MSFT) at 3.3%, Lincoln National Corp (LNC) at 3.2%, Carvana Co. (CVNA) at 3.2%, Bank Of America Corp (BAC) at 2.7% of the reported portfolio.
Capricorn Fund Managers Ltd reported a 13F portfolio worth $1.03B across 124 positions for Q3 2026. That is down 15.9% from the previous quarter.
Its largest purchases by value were Lincoln National Corp ($33.01M), Citigroup Inc ($26.54M), Xenon Pharmaceuticals Inc. ($20.38M). It opened 39 new positions.
Its largest sales by value were KKR & Co. Inc. ($40.06M), Bp Plc ($36.70M), LPL Financial Holdings Inc. ($32.80M). It exited 80 positions entirely.
From the Form 13F-HR reports Capricorn Fund Managers Ltd files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.