Managers / Q1 2026
M & L Capital Management Ltd
CIK 0001927627 · 12A PRINCES GATE MEWS, LONDON, X0, SW7 2PS · 0207 5845733
Summary
M & L Capital Management Ltd reported $407M in U.S.-listed holdings across 19 positions for Q1 2026.
The portfolio is heavily concentrated: NVDA alone accounts for 50.2% of reported value.
Compared with Q4 2025, the fund opened 5 new positions and exited 11.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 97.8% · $398M
- Tracking Stk · 2.2% · $9M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| LRCXLAM RESEARCH CORP | NEW | +78.0K | 78.0K | +$17M | $17M |
| GEVGE VERNOVA INC | NEW | +5.0K | 5.0K | +$4M | $4M |
| SITMSITIME CORP | NEW | +9.8K | 9.8K | +$3M | $3M |
| BEBLOOM ENERGY CORP | NEW | +8.1K | 8.1K | +$1M | $1M |
| AXONAXON ENTERPRISE INC | NEW | +180 | 180 | +$76,444 | $76,444 |
| GOOGALPHABET INC | ADDED | +5.0K | 8.9K | +$1M | $3M |
| JPXAEROVIRONMENT INC | ADDED | +11.5K | 20.9K | +$2M | $4M |
| MSFTMICROSOFT CORP | SOLD OUT | −150.2K | 0 | −$73M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | NVDANVIDIA CORPORATIONhistory → | COM | 50.22% | $204M | 1.17M |
| 2 | AVGOBROADCOM INChistory → | COM | 13.20% | $54M | 173.3K |
| 3 | LITELUMENTUM HLDGS INChistory → | COM | 8.99% | $37M | 52.0K |
| 4 | CIENCIENA CORPhistory → | COM NEW | 5.32% | $22M | 55.7K |
| 5 | LRCXLAM RESEARCH CORPhistory → | COM NEW | 4.10% | $17M | 78.0K |
| 6 | ANETARISTA NETWORKS INChistory → | COM SHS | 2.60% | $11M | 86.0K |
| 7 | HOODROBINHOOD MARKETS INChistory → | COM CL A | 2.31% | $9M | 135.5K |
| 8 | COHRCOHERENT CORPhistory → | COM | 2.20% | $9M | 37.6K |
| 9 | FWONKLIBERTY MEDIA CORP DELhistory → | COM LBTY ONE S C | 2.17% | $9M | 104.0K |
| 10 | ISRGINTUITIVE SURGICAL INChistory → | COM NEW | 2.01% | $8M | 17.7K |
| 11 | VRTVERTIV HOLDINGS COhistory → | COM CL A | 1.66% | $7M | 26.9K |
| 12 | GEVGE VERNOVA INChistory → | COM | 1.07% | $4M | 5.0K |
| 13 | TKOTKO GROUP HLDGS INChistory → | COM | 1.00% | $4M | 20.3K |
| 14 | JPXAEROVIRONMENT INC | COM | 0.94% | $4M | 20.9K |
| 15 | SITMSITIME CORP | COM | 0.83% | $3M | 9.8K |
| 16 | GOOGALPHABET INC | CAP STK CL C | 0.63% | $3M | 8.9K |
| 17 | CELHCELSIUS HLDGS INC | COM NEW | 0.47% | $2M | 53.4K |
| 18 | BEBLOOM ENERGY CORP | COM CL A | 0.27% | $1M | 8.1K |
| 19 | AXONAXON ENTERPRISE INC | COM | 0.02% | $76,444 | 180 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $407M | 19 | Apr 10, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $480M | 25 | Jan 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $502M | 25 | Oct 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $444M | 25 | Jul 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $334M | 21 | Apr 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $411M | 24 | Feb 10, 2025 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.