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CFM

Capricorn Fund Managers Portfolio holdings

AUM $641M
1-Year Est. Return 61.79%
This Fund
S&P 500
This Quarter Est. Return
-2.73%
1 Year Est. Return
+61.79%
3 Year Est. Return
+139.35%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$641M
AUM Growth
+$227M
Cap. Flow
+$272M
Cap. Flow %
42.4%
Top 10 Hldgs %
33.35%
Holding
152
New
70
Increased
25
Reduced
15
Closed
38

Top Buys

1
CVNA icon
Carvana
CVNA
+$35.2M
2
BAC icon
Bank of America
BAC
+$26.4M
3
SKIN icon
SkinHealth Systems
SKIN
+$23.8M
4
AXGN icon
Axogen
AXGN
+$22.4M
5
KKR icon
KKR & Co
KKR
+$22.3M

Top Sells

1
WAY
Waystar Holding Corp
WAY
+$18.4M
2
GPCR icon
Structure Therapeutics
GPCR
+$17.6M
3
NUVB icon
Nuvation Bio
NUVB
+$14.2M
4
GH icon
Guardant Health
GH
+$11M
5
ROIV icon
Roivant Sciences
ROIV
+$10.9M

Sector Composition

1 Healthcare 31%
2 Financials 20.27%
3 Consumer Discretionary 17.26%
4 Consumer Staples 8.15%
5 Technology 7.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVNA icon
1
Carvana
CVNA
$48.2B
$29.9M 4.66%
+475,000
New +$35.2M
BAC icon
2
Bank of America
BAC
$430B
$26.2M 4.08%
537,000
+511,535
+2,009% +$26.4M
ZYME icon
3
Zymeworks
ZYME
$1.78B
$25.2M 3.93%
1,007,210
-15,630
-2% -$370K
AXGN icon
4
Axogen
AXGN
$2.12B
$22.8M 3.55%
+687,600
New +$22.4M
KKR icon
5
KKR & Co
KKR
$90.6B
$19.6M 3.06%
+212,000
New +$22.3M
NVST icon
6
Envista
NVST
$4.35B
$18.9M 2.95%
+746,200
New +$19.4M
KWY
7
Kingsway Corp
KWY
$276M
$18.6M 2.9%
+1,784,893
New +$21.6M
ADPT icon
8
Adaptive Biotechnologies
ADPT
$3.67B
$17.9M 2.8%
+1,291,773
New +$20.6M
NSC icon
9
Norfolk Southern
NSC
$76.4B
$17.5M 2.73%
61,117
+36,117
+144% +$10.7M
SKIN icon
10
SkinHealth Systems
SKIN
$109M
$17.3M 2.69%
+19,404,192
New +$23.8M
PRI icon
11
Primerica
PRI
$9.68B
$17M 2.66%
+68,041
New +$17.5M
EA icon
12
Electronic Arts
EA
$52.4B
$15.5M 2.41%
75,898
+37,349
+97% +$7.54M
PAHC icon
13
Phibro Animal Health
PAHC
$1.35B
$14.8M 2.3%
267,045
+82,944
+45% +$3.95M
ELVN icon
14
Enliven Therapeutics
ELVN
$3.8B
$14.5M 2.26%
+369,400
New +$10.2M
KARO icon
15
Karooooo
KARO
$1.94B
$13.9M 2.16%
278,346
+40,268
+17% +$1.9M
MSFT icon
16
Microsoft
MSFT
$2.93T
$12M 1.87%
32,343
+3,610
+13% +$1.51M
GTLS icon
17
Chart Industries
GTLS
$11.8M 1.84%
56,989
+23,606
+71% +$4.89M
BLND icon
18
Blend Labs
BLND
$438M
$11M 1.72%
+6,499,507
New +$13.9M
BRK.B icon
19
Berkshire Hathaway Class B
BRK.B
$1.06T
$10.8M 1.68%
22,468
+10,614
+90% +$5.21M
LQDA icon
20
Liquidia Corp
LQDA
$7.11B
$9.34M 1.46%
+247,405
New +$9.18M
AMZN icon
21
Amazon
AMZN
$2.66T
$9.3M 1.45%
44,648
-3,002
-6% -$661K
GOOGL icon
22
Alphabet (Google) Class A
GOOGL
$4.23T
$8.93M 1.39%
31,067
+1
+0% +$314
TXNM
23
TXNM Energy Inc
TXNM
$6.36B
$8.83M 1.38%
151,009
+62,480
+71% +$3.68M
KSPI icon
24
Kaspi.kz JSC
KSPI
$16.7B
$8.81M 1.37%
118,900
+101,900
+599% +$7.69M
BTI icon
25
British American Tobacco
BTI
$136B
$8.6M 1.34%
+147,000
New +$8.7M
1
2 3 4 5

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APC
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TCM
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WHGAM
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GECH
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OP
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SFG
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Capricorn Fund Managers's Q1 2026 Portfolio in Review

As of Q1 2026, Capricorn Fund Managers held 152 positions worth $641M, up 55% from $415M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Capricorn Fund Managers deployed $272M of net new capital in Q1 2026, opening 70 new positions and adding to 25 existing holdings. Its largest new stake was Carvana: 475,000 shares worth $29.9M.

By sector, the portfolio is most concentrated in Healthcare at 31% of assets, down from 44% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Waystar Holding Corp, an estimated $18.4M trimmed.

  • Capricorn Fund Managers's largest Q1 2026 buy was Carvana: 475,000 shares worth $29.9M.
  • Capricorn Fund Managers added most to Bank of America in Q1 2026, an estimated $26.4M increase.
  • Capricorn Fund Managers's biggest Q1 2026 reduction was Waystar Holding Corp, cutting an estimated $18.4M.
  • Capricorn Fund Managers fully exited Structure Therapeutics in Q1 2026, selling an estimated $17.6M.
  • Capricorn Fund Managers's ten largest holdings make up 33% of its $641M portfolio in Q1 2026.
  • Capricorn Fund Managers opened 70 new positions and closed 38 in Q1 2026.
  • Capricorn Fund Managers's portfolio value rose 55% quarter-over-quarter to $641M.

Based on Capricorn Fund Managers's 13F filing for Q1 2026, filed 24 Apr 2026.