M & L Capital Management
LONDON, X0files as M & L Capital Management Ltd
$370m in 17 US stocks at the end of 30 June 2026. The top 10 are 89.6% of the money. It changed about 64.6% of the portfolio this quarter.
Value
$370m
Stocks
17
Top 10 share
89.6%
Turnover
64.6%
What changed this quarter
New
Bought for the first time this quarter.
- Micron TechnologyMU13.0% of the fund
- Vaneck ETF TrustSMH10.5% of the fund
- Marvell TechnologyMRVL9.6% of the fund
- Astera LabsALAB6.0% of the fund
- Credo Technology Group HoldingCRDO3.0% of the fund
- Space Exploration TechnologiesSPCX1.6% of the fund
- Amkor TechnologyAMKR1.0% of the fund
- Advanced Micro DevicesAMD0.3% of the fund
Added
Bought more of a stock they already held.
- CienaCIEN8.3% of the fund+13%
- CoherentCOHR4.6% of the fund+14%
- AlphabetGOOG3.5% of the fund+317%
- Vertiv HoldingsVRT3.4% of the fund+38%
Cut
Sold some of their stake.
- Robinhood MarketsHOOD0.5% of the fund-86%
Sold out
Sold their entire stake.
- NvidiaNVDA-100%
- Lam ResearchLRCX-100%
- Liberty MediaFWONK-100%
- Intuitive SurgicalISRG-100%
- GE VernovaGEV-100%
- TKO Group HoldingsTKO-100%
- AeroVironmentAVAV-100%
- SitimeSITM-100%
- Celsius HoldingsCELH-100%
- Axon EnterpriseAXON-100%
Holdings
- Vaneck ETF TrustSMH
- Share
- 10.5%
- Value
- $39m
- Shares
- 59,100
New
- Space Exploration TechnologiesSPCX
- Share
- 1.6%
- Value
- $6m
- Shares
- 34,500
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| BroadcomAVGO | 18.0% | $66m | 175,800 | Held |
| Micron TechnologyMU | 13.0% | $48m | 41,763 | New |
| Lumentum HoldingsLITE | 12.1% | $45m | 52,030 | Held |
| Vaneck ETF TrustSMH | 10.5% | $39m | 59,100 | New |
| Marvell TechnologyMRVL | 9.6% | $36m | 119,500 | New |
| CienaCIEN | 8.3% | $31m | 62,930 | +13% |
| Astera LabsALAB | 6.0% | $22m | 46,200 | New |
| CoherentCOHR | 4.6% | $17m | 43,000 | +14% |
| Arista NetworksANET | 4.0% | $15m | 86,000 | Held |
| AlphabetGOOG | 3.5% | $13m | 36,980 | +317% |
| Vertiv HoldingsVRT | 3.4% | $12m | 37,100 | +38% |
| Credo Technology Group HoldingCRDO | 3.0% | $11m | 41,100 | New |
| Space Exploration TechnologiesSPCX | 1.6% | $6m | 34,500 | New |
| Amkor TechnologyAMKR | 1.0% | $4m | 41,000 | New |
| Bloom EnergyBE | 0.7% | $2m | 8,100 | Held |
| Robinhood MarketsHOOD | 0.5% | $2m | 19,000 | -86% |
| Advanced Micro DevicesAMD | 0.3% | $987,547 | 1,700 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 16.6% since 30 June 2025.
Where the money is
Technology81.4%
Industrials4.0%
Media & telecom3.5%
Financial services0.5%
Other10.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.