# EDGAR Filing Document

**Accession Number:** 0001901361
**File Stem:** 0001901361-26-000010
**Filing Date:** 2026-4
**Character Count:** 15461
**Document Hash:** dd227286e6b496c292382eddbed8744d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001901361-26-000010.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001901361-26-000010

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capricorn Fund Managers Ltd
- **CENTRAL INDEX KEY:** 0001901361

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21977
- **FILM NUMBER:** 26890595

**BUSINESS ADDRESS:**
- **STREET 1:** 2ND FLOOR, MALTA HOUSE
- **STREET 2:** 36-38 PICCADILLY
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1J 0DP
- **BUSINESS PHONE:** 00442073174422

**MAIL ADDRESS:**
- **STREET 1:** 2ND FLOOR, MALTA HOUSE
- **STREET 2:** 36-38 PICCADILLY
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1J 0DP

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Capricorn Fund Managers Ltd<br>**Address:** 2ND FLOOR MALTA HOUSE<br>36-38 PICCADILLY<br>LONDON, X0 W1J 0DP

**Form 13F File Number:** 028-21977

**CRD Number (if applicable):** 000323709

**SEC File Number (if applicable):** 802-126896

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Parth Karia<br>**Title:** Head of Risk<br>**Phone:** 442039895617

**Signature, Place, and Date of Signing:**

Parth Karia Mumbai India  Mumbai, K7  04-24-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 114

**Form 13F Information Table Value Total:** $641426445

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 10x Genomics | CL A COM | 88025U109 |  | 2161214 | 101800 | SH |  | SOLE | NONE | 101800 | 0 | 0 |
| ABBVIE | COM | 00287Y109 |  | 5958574 | 27397 | SH |  | SOLE | NONE | 27397 | 0 | 0 |
| Adaptive Biotechnologies Corp | COM | 00650F109 |  | 17929809 | 1291773 | SH |  | SOLE | NONE | 1291773 | 0 | 0 |
| Agilent Technologies | COM | 00846U101 |  | 8160968 | 71600 | SH |  | SOLE | NONE | 71600 | 0 | 0 |
| ALBERTSONS COMPANIES CL A ORD | COMMON STOCK | 013091103 |  | 1363200 | 80000 | SH |  | SOLE | NONE | 80000 | 0 | 0 |
| Align Technology | COM | 016255101 |  | 8125782 | 47400 | SH |  | SOLE | NONE | 47400 | 0 | 0 |
| Alphabet Inc - Class A | CAP STK CL A | 02079K305 |  | 8933627 | 31067 | SH |  | SOLE | NONE | 31067 | 0 | 0 |
| Alphabet Inc - Class C | CAP STK CL C | 02079K107 |  | 206826 | 721 | SH |  | SOLE | NONE | 721 | 0 | 0 |
| Amazon.com | COM | 023135106 |  | 9298839 | 44648 | SH |  | SOLE | NONE | 44648 | 0 | 0 |
| AMER SPORTS ORD | COM SHS | G0260P102 |  | 6090200 | 185000 | SH |  | SOLE | NONE | 185000 | 0 | 0 |
| Amicus Therapeutics | COM | 03152W109 |  | 7722782 | 534079 | SH |  | SOLE | NONE | 534079 | 0 | 0 |
| Anheuser-Busch INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 1595510 | 23000 | SH |  | SOLE | NONE | 23000 | 0 | 0 |
| ANTERIS TECHNOLOGIES GLOBAL ORD | COM | 03675P102 |  | 2777914 | 500525 | SH |  | SOLE | NONE | 500525 | 0 | 0 |
| Apollo Global Management | COM | 03769M106 |  | 5682420 | 51000 | SH |  | SOLE | NONE | 51000 | 0 | 0 |
| ARDMORE SHIPPING Corp | COM | Y0207T100 |  | 213500 | 14000 | SH |  | SOLE | NONE | 14000 | 0 | 0 |
| ASTERA LABS ORD | COM | 04626A103 |  | 623514 | 5689 | SH |  | SOLE | NONE | 5689 | 0 | 0 |
| Axalta Coating Systems Ltd | COM | G0750C108 |  | 1260793 | 45516 | SH |  | SOLE | NONE | 45516 | 0 | 0 |
| Axogen | COM | 05463X106 |  | 22780188 | 687600 | SH |  | SOLE | NONE | 687600 | 0 | 0 |
| Bank of America Corp | COM | 060505104 |  | 26178750 | 537000 | SH |  | SOLE | NONE | 537000 | 0 | 0 |
| Beauty Health Company (The) | COM CL A | 88331L108 |  | 17269731 | 19404192 | SH |  | SOLE | NONE | 19404192 | 0 | 0 |
| Berkshire Hathaway | CL B NEW | 084670702 |  | 10766666 | 22468 | SH |  | SOLE | NONE | 22468 | 0 | 0 |
| BETA TECHNOLOGIES CL A ORD | COM SHS CL A | 086921103 |  | 1230331 | 83696 | SH |  | SOLE | NONE | 83696 | 0 | 0 |
| BioCryst Pharmaceuticals | COM | 09058V103 |  | 1931608 | 202900 | SH |  | SOLE | NONE | 202900 | 0 | 0 |
| Blend Labs | CL A | 09352U108 |  | 11049162 | 6499507 | SH |  | SOLE | NONE | 6499507 | 0 | 0 |
| Borr Drilling Limited | SHS | G1466R173 |  | 519300 | 90000 | SH |  | SOLE | NONE | 90000 | 0 | 0 |
| Boston Scientific Corp | COM | 101137107 |  | 1763275 | 28100 | SH |  | SOLE | NONE | 28100 | 0 | 0 |
| BRIGHTSPRING HEALTH SVCS INC | COM | 10950A106 |  | 4525543 | 106196 | SH |  | SOLE | NONE | 106196 | 0 | 0 |
| Brinker International | COM | 109641100 |  | 4854180 | 34000 | SH |  | SOLE | NONE | 34000 | 0 | 0 |
| British American Tobacco plc | SPONSORED ADR | 110448107 |  | 8595090 | 147000 | SH |  | SOLE | NONE | 147000 | 0 | 0 |
| Brookfield Corp | CL A LTD VT SH | 11271J107 |  | 2731725 | 67500 | SH |  | SOLE | NONE | 67500 | 0 | 0 |
| Burford Capital Limited | ORD SHS | G17977110 |  | 610200 | 135000 | SH |  | SOLE | NONE | 135000 | 0 | 0 |
| Burlington Stores | COM | 122017106 |  | 3253800 | 10000 | SH |  | SOLE | NONE | 10000 | 0 | 0 |
| Cardinal Health | COM | 14149Y108 |  | 594415 | 2813 | SH |  | SOLE | NONE | 2813 | 0 | 0 |
| Carvana Co | CL A | 146869102 |  | 29866100 | 95000 | SH |  | SOLE | NONE | 95000 | 0 | 0 |
| Chart Industries | COM | 16115Q308 |  | 11782476 | 56989 | SH |  | SOLE | NONE | 56989 | 0 | 0 |
| Coca-Cola Company | COM | 191216100 |  | 2281500 | 30000 | SH |  | SOLE | NONE | 30000 | 0 | 0 |
| Conagra Brands | COM | 205887102 |  | 1204592 | 76628 | SH |  | SOLE | NONE | 76628 | 0 | 0 |
| Constellation Brands | CL A | 21036P108 |  | 2325000 | 15500 | SH |  | SOLE | NONE | 15500 | 0 | 0 |
| D MARKET ELECTRONIC SERVICES TRA ADR | SPONSORED ADS | 23292B104 |  | 76465 | 29185 | SH |  | SOLE | NONE | 29185 | 0 | 0 |
| Deckers Outdoor Corp | COM | 243537107 |  | 4003600 | 40000 | SH |  | SOLE | NONE | 40000 | 0 | 0 |
| Diageo plc | SPON ADR NEW | 25243Q205 |  | 1116750 | 15000 | SH |  | SOLE | NONE | 15000 | 0 | 0 |
| Ecolab | COM | 278865100 |  | 1936094 | 7278 | SH |  | SOLE | NONE | 7278 | 0 | 0 |
| Electronic Arts | COM | 285512109 |  | 15473325 | 75898 | SH |  | SOLE | NONE | 75898 | 0 | 0 |
| ENLIVEN THERAPEUTICS ORD | COM | 29337E102 |  | 14480480 | 369400 | SH |  | SOLE | NONE | 369400 | 0 | 0 |
| Envista Holdings Corp | COM | 29415F104 |  | 18931094 | 746200 | SH |  | SOLE | NONE | 746200 | 0 | 0 |
| Estee Lauder Companies (The) | CL A | 518439104 |  | 870570 | 12130 | SH |  | SOLE | NONE | 12130 | 0 | 0 |
| Ethos Technologies Inc. | CL A | 29765A101 |  | 264729 | 23700 | SH |  | SOLE | NONE | 23700 | 0 | 0 |
| Five Below | COM | 33829M101 |  | 2856000 | 12500 | SH |  | SOLE | NONE | 12500 | 0 | 0 |
| FLUTTER ENTERTAINMENT ORD | SHS | G3643J108 |  | 3670200 | 36000 | SH |  | SOLE | NONE | 36000 | 0 | 0 |
| Glaukos Corp | COM | 377322102 |  | 301448 | 2800 | SH |  | SOLE | NONE | 2800 | 0 | 0 |
| Hologic | COM | 436440101 |  | 4903448 | 64869 | SH |  | SOLE | NONE | 64869 | 0 | 0 |
| ISHARES BITCOIN ETF | SHS BEN INT | 46438F101 |  | 1152600 | 30000 | SH |  | SOLE | NONE | 30000 | 0 | 0 |
| iShares iBoxx $ High Yield | IBOXX HI YD ETF | 464288513 |  | 2825812 | 35518 | SH |  | SOLE | NONE | 35518 | 0 | 0 |
| iShares iBoxx $ Investment Grade | IBOXX INV CP ETF | 464287242 |  | 1412531 | 12959 | SH |  | SOLE | NONE | 12959 | 0 | 0 |
| JSC KASPI GLOBAL SPON ADS REP ORD | SPONSORED ADS | 48581R205 |  | 8806923 | 118900 | SH |  | SOLE | NONE | 118900 | 0 | 0 |
| KARMAN HLDGS INC | COMMON STOCK | 485924104 |  | 342694 | 4281 | SH |  | SOLE | NONE | 4281 | 0 | 0 |
| Karooooo Ltd | ORD SHS | Y4600W108 |  | 13872765 | 278346 | SH |  | SOLE | NONE | 278346 | 0 | 0 |
| KINGSWAY FINANCIAL SERVICES INC. | COM NEW | 496904202 |  | 18616434 | 1784893 | SH |  | SOLE | NONE | 1784893 | 0 | 0 |
| KKR  Co | COM | 48251W104 |  | 19610000 | 212000 | SH |  | SOLE | NONE | 212000 | 0 | 0 |
| KODIAK GAS SVCS INC | COM | 50012A108 |  | 2334491 | 40029 | SH |  | SOLE | NONE | 40029 | 0 | 0 |
| Levi Strauss  Co | CL A COM STK | 52736R102 |  | 3050850 | 165000 | SH |  | SOLE | NONE | 165000 | 0 | 0 |
| Linde plc | SHS | G54950103 |  | 2957800 | 5968 | SH |  | SOLE | NONE | 5968 | 0 | 0 |
| Liquidia Corp | COM NEW | 53635D202 |  | 9337065 | 247405 | SH |  | SOLE | NONE | 247405 | 0 | 0 |
| LOAR HOLDINGS ORD | COM SHS | 53947R105 |  | 2596784 | 45327 | SH |  | SOLE | NONE | 45327 | 0 | 0 |
| Lowe's Companies | COM | 548661107 |  | 826980 | 3500 | SH |  | SOLE | NONE | 3500 | 0 | 0 |
| LUXEXPERIENCE ADS REP ORD | ADS | 55406W103 |  | 8154681 | 1023172 | SH |  | SOLE | NONE | 1023172 | 0 | 0 |
| Maravai LifeSciences Holdings | COM CL A | 56600D107 |  | 961427 | 339727 | SH |  | SOLE | NONE | 339727 | 0 | 0 |
| Masimo Corp | COM | 574795100 |  | 4057393 | 22811 | SH |  | SOLE | NONE | 22811 | 0 | 0 |
| MasterBrand | COMMON STOCK | 57638P104 |  | 442433 | 53241 | SH |  | SOLE | NONE | 53241 | 0 | 0 |
| MaxCyte | COM | 57777K106 |  | 5760500 | 8200000 | SH |  | SOLE | NONE | 8200000 | 0 | 0 |
| Medline Inc | COM CL A | 58507V107 |  | 1889248 | 42455 | SH |  | SOLE | NONE | 42455 | 0 | 0 |
| Meta Platforms | CL A | 30303M102 |  | 7723755 | 13500 | SH |  | SOLE | NONE | 13500 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 11972408 | 32343 | SH |  | SOLE | NONE | 32343 | 0 | 0 |
| Moody's Corp | COM | 615369105 |  | 920924 | 2111 | SH |  | SOLE | NONE | 2111 | 0 | 0 |
| Netflix | COM | 64110L106 |  | 2140299 | 22260 | SH |  | SOLE | NONE | 22260 | 0 | 0 |
| Noble Corp | ORD SHS A | G65431127 |  | 338583 | 6900 | SH |  | SOLE | NONE | 6900 | 0 | 0 |
| Norfolk Southern Corp | COM | 655844108 |  | 17540579 | 61117 | SH |  | SOLE | NONE | 61117 | 0 | 0 |
| On Holding AG | COM | H5919C104 |  | 4748205 | 139571 | SH |  | SOLE | NONE | 139571 | 0 | 0 |
| Penumbra | COM | 70975L107 |  | 1930487 | 5879 | SH |  | SOLE | NONE | 5879 | 0 | 0 |
| PepsiCo | COM | 713448108 |  | 8312674 | 53530 | SH |  | SOLE | NONE | 53530 | 0 | 0 |
| Pfizer | CL A COM | 717081103 |  | 4653698 | 165730 | SH |  | SOLE | NONE | 165730 | 0 | 0 |
| Phibro Animal Health Corp | COM | 71742Q106 |  | 14770259 | 267045 | SH |  | SOLE | NONE | 267045 | 0 | 0 |
| PRIMERICA | CL A | 74164M108 |  | 17042910 | 68041 | SH |  | SOLE | NONE | 68041 | 0 | 0 |
| Ralph Lauren Corp | COM | 751212101 |  | 4568187 | 13280 | SH |  | SOLE | NONE | 13280 | 0 | 0 |
| RealReal (The) | COM | 88339P101 |  | 4982468 | 548730 | SH |  | SOLE | NONE | 548730 | 0 | 0 |
| RenaissanceRe Holdings Ltd | COM | G7496G103 |  | 2905126 | 9774 | SH |  | SOLE | NONE | 9774 | 0 | 0 |
| Restaurant Brands International | COM CL A | 76131D103 |  | 4810077 | 65089 | SH |  | SOLE | NONE | 65089 | 0 | 0 |
| Robinhood Markets | COM CL A | 770700102 |  | 8558550 | 123500 | SH |  | SOLE | NONE | 123500 | 0 | 0 |
| Rocket Companies | SHS | 77311W101 |  | 285969 | 20068 | SH |  | SOLE | NONE | 20068 | 0 | 0 |
| Roivant Sciences Ltd | COM | G76279101 |  | 554000 | 20000 | SH |  | SOLE | NONE | 20000 | 0 | 0 |
| Ross Stores | COM SHS | 778296103 |  | 4982490 | 23000 | SH |  | SOLE | NONE | 23000 | 0 | 0 |
| SHARKNINJA ORD | COM | G8068L108 |  | 6777600 | 64000 | SH |  | SOLE | NONE | 64000 | 0 | 0 |
| SMITHFIELD FOODS ORD | COM | 832248207 |  | 1017828 | 36390 | SH |  | SOLE | NONE | 36390 | 0 | 0 |
| STANDARDAERO INC | COM | 85423L103 |  | 3377417 | 130705 | SH |  | SOLE | NONE | 130705 | 0 | 0 |
| T Rowe Price Group | COM | 74144T108 |  | 7524437 | 83475 | SH |  | SOLE | NONE | 83475 | 0 | 0 |
| Tapestry | COM | 876030107 |  | 3386640 | 24000 | SH |  | SOLE | NONE | 24000 | 0 | 0 |
| Target Corp | COM | 87612E106 |  | 1742371 | 14376 | SH |  | SOLE | NONE | 14376 | 0 | 0 |
| Tarsus Pharmaceuticals | COM | 87650L103 |  | 1823900 | 26000 | SH |  | SOLE | NONE | 26000 | 0 | 0 |
| Terex Corp | COM | 880779103 |  | 2595081 | 43910 | SH |  | SOLE | NONE | 43910 | 0 | 0 |
| Thermo Fisher Scientific | COM | 883556102 |  | 265426 | 540 | SH |  | SOLE | NONE | 540 | 0 | 0 |
| Tidewater | COM | 88642R109 |  | 459525 | 5500 | SH |  | SOLE | NONE | 5500 | 0 | 0 |
| TXNM ENERGY ORD | CL A | 69349H107 |  | 8827986 | 151009 | SH |  | SOLE | NONE | 151009 | 0 | 0 |
| UiPath | NAMEN AKT A | 90364P105 |  | 1454100 | 131000 | SH |  | SOLE | NONE | 131000 | 0 | 0 |
| Vaalco Energy | COM NEW | 91851C201 |  | 380400 | 60000 | SH |  | SOLE | NONE | 60000 | 0 | 0 |
| VanEck Gold Miners ETF | GOLD MINERS ETF | 92189F106 |  | 275310 | 3000 | SH |  | SOLE | NONE | 3000 | 0 | 0 |
| Veeva Systems | CL A COM | 922475108 |  | 878300 | 5000 | SH |  | SOLE | NONE | 5000 | 0 | 0 |
| VERA THERAPEUTICS CL A ORD | CL A | 92337R101 |  | 2599019 | 64604 | SH |  | SOLE | NONE | 64604 | 0 | 0 |
| Virtu Financial | CL A | 928254101 |  | 2404299 | 54668 | SH |  | SOLE | NONE | 54668 | 0 | 0 |
| VISA | COM CL A | 92826C839 |  | 5910303 | 19555 | SH |  | SOLE | NONE | 19555 | 0 | 0 |
| Vita Coco Company (The) | COM | 92846Q107 |  | 4551450 | 95000 | SH |  | SOLE | NONE | 95000 | 0 | 0 |
| W Offshore | COM | 92922P106 |  | 34100 | 10000 | SH |  | SOLE | NONE | 10000 | 0 | 0 |
| Warner Bros Discovery | COM SER A | 934423104 |  | 2964005 | 107939 | SH |  | SOLE | NONE | 107939 | 0 | 0 |
| WAYSTAR HOLDING ORD | COM | 946784105 |  | 1102044 | 45709 | SH |  | SOLE | NONE | 45709 | 0 | 0 |
| Zymeworks | COM | 98985Y108 |  | 25220538 | 1007210 | SH |  | SOLE | NONE | 1007210 | 0 | 0 |

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