MCO

MAK Capital One Portfolio holdings

AUM $714M Turnover 30.43%
1-Year Est. Return 68.07%
This Fund
S&P 500
This Quarter Est. Return
+26.42%
1 Year Est. Return
+68.07%
3 Year Est. Return
+199.63%
5 Year Est. Return
+307.07%
10 Year Est. Return
+2,541.72%
AUM
$909M
AUM Growth
+$259M
Cap. Flow
+$152M
Cap. Flow %
16.75%
Top 10 Hldgs %
85.34%
Holding
25
New
11
Increased
5
Reduced
1
Closed
2
Avg Time Held Equity + Options
1.5 years
Top 10 Avg Time Held Equity + Options
2.5 years
Top 20 Avg Time Held Equity + Options
1.7 years
Avg Time Held Equity only
1.5 years
Top 10 Avg Time Held Equity only
3 years
Top 20 Avg Time Held Equity only
1.6 years

Top Buys

Rank Stock Value
1
QCOM icon
Qualcomm
QCOM
+$67.5M
2
GGAL icon
Galicia Financial Group
GGAL
+$62.8M
3
COUR icon
Coursera
COUR
+$32.7M
4
UDMY icon
Udemy
UDMY
+$22M
5
ANNX icon
Annexon
ANNX
+$11.3M

Top Sells

Rank Stock Value
1
HSII icon
Heidrick & Struggles
HSII
+$60.4M
2
PRO icon
PROS Holdings
PRO
+$32.4M
3
DAWN icon
Day One Biopharmaceuticals
DAWN
+$5.2M

Sector Composition

Rank Sector Weight
1 Technology 24.96%
2 Consumer Discretionary 20.98%
3 Miscellaneous 18.23%
4 Financials 13.18%
5 Healthcare 12.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SKY icon
1
Champion Homes
SKY
$4.12B
$169M 18.6%
2,000,000
– –
2018 Q2
30 quarters
AGYS icon
2
Agilysys
AGYS
$3.03B
$142M 15.6%
1,192,730
– –
2013 Q2
50 quarters
SKY icon
3
PUT
Champion Homes
SKY
$4.12B
$127M 13.95%
1,500,000
– –
2024 Q4
4 quarters
GGAL icon
4
Galicia Financial Group
GGAL
$5.71B
$72.5M 7.97%
+1,343,488
New +$62.8M
2025 Q4
0 quarters
QCOM icon
5
Qualcomm
QCOM
$184B
$67.4M 7.42%
+394,012
New +$67.5M
2025 Q4
0 quarters
AUTL icon
6
Autolus Therapeutics
AUTL
$450M
$59.7M 6.57%
30,005,343
+3,987,727
+15% +$6.13M
2025 Q2
2 quarters
SUPV icon
7
Grupo Supervielle
SUPV
$614M
$47.3M 5.2%
4,000,000
– –
2024 Q1
7 quarters
AGYS icon
8
PUT
Agilysys
AGYS
$3.03B
$38.9M 4.28%
327,600
– –
2024 Q4
4 quarters
COUR icon
9
Coursera
COUR
$1.28B
$27.6M 3.04%
+3,751,368
New +$32.7M
2025 Q4
0 quarters
LAB icon
10
Standard BioTools
LAB
$248M
$24.7M 2.72%
19,288,158
+3,356,352
+21% +$4.51M
2025 Q1
3 quarters
UDMY icon
11
DELISTED
Udemy
UDMY
$22.1M 2.43%
+3,769,762
New +$22M
2025 Q4
0 quarters
YTRA icon
12
Yatra Online
YTRA
$57.9M
$21.7M 2.38%
12,170,301
– –
2018 Q3
29 quarters
ANNX icon
13
Annexon
ANNX
$696M
$14.9M 1.63%
+2,958,527
New +$11.3M
2025 Q4
0 quarters
PESI icon
14
Perma-Fix Environmental Services
PESI
$272M
$11.6M 1.27%
918,673
+103,097
+13% +$1.31M
2025 Q2
2 quarters
CYRX icon
15
CryoPort
CYRX
$843M
$11.5M 1.27%
1,199,225
+381,063
+47% +$3.6M
2025 Q3
1 quarter
HNST icon
16
The Honest Company
HNST
$544M
$9.1M 1%
+3,528,704
New +$10.8M
2025 Q4
0 quarters
CVE icon
17
Cenovus Energy
CVE
$60.2B
$9.08M 1%
+536,832
New +$9.32M
2025 Q4
0 quarters
TALK icon
18
DELISTED
Talkspace
TALK
$8.04M 0.88%
+2,215,336
New +$7.03M
2025 Q4
0 quarters
DAWN icon
19
DELISTED
Day One Biopharmaceuticals
DAWN
$7.7M 0.85%
826,205
-622,256
-43% -$5.2M
2025 Q3
1 quarter
SMRT icon
20
SmartRent
SMRT
$222M
$7.23M 0.8%
3,577,973
+714,050
+25% +$1.17M
2025 Q3
1 quarter
MITK icon
21
Mitek Systems
MITK
$712M
$6.69M 0.74%
+634,099
New +$5.99M
2025 Q4
0 quarters
VPG icon
22
Vishay Precision Group
VPG
$847M
$1.97M 0.22%
+51,226
New +$1.81M
2025 Q4
0 quarters
DAVA icon
23
Endava
DAVA
$101M
$1.79M 0.2%
+283,076
New +$2.17M
2025 Q4
0 quarters
HSII icon
24
DELISTED
Heidrick & Struggles
HSII
– –
-1,213,762
Closed -$60.4M –
PRO icon
25
DELISTED
PROS Holdings
PRO
– –
-1,413,426
Closed -$32.4M –

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LWM
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HA
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TC
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FCFC
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MAK Capital One's Q4 2025 Portfolio in Review

As of Q4 2025, MAK Capital One held 25 positions worth $909M, up 40% from $650M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

MAK Capital One deployed $152M of net new capital in Q4 2025, opening 11 new positions and adding to 5 existing holdings. Its largest new stake was Qualcomm: 394,012 shares worth $67.4M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Miscellaneous.

On the sell side, the largest reduction was Day One Biopharmaceuticals, an estimated $5.2M trimmed.

  • MAK Capital One's largest Q4 2025 buy was Qualcomm: 394,012 shares worth $67.4M.
  • MAK Capital One added most to Autolus Therapeutics in Q4 2025, an estimated $6.13M increase.
  • MAK Capital One's biggest Q4 2025 reduction was Day One Biopharmaceuticals, cutting an estimated $5.2M.
  • MAK Capital One fully exited Heidrick & Struggles in Q4 2025, selling an estimated $60.4M.
  • MAK Capital One's ten largest holdings make up 85% of its $909M portfolio in Q4 2025.
  • MAK Capital One opened 11 new positions and closed 2 in Q4 2025.
  • MAK Capital One's portfolio value rose 40% quarter-over-quarter to $909M.

Based on MAK Capital One's 13F filing for Q4 2025, filed 17 Feb 2026.