FC
Franchise Capital Ltd Historical SEC 13F Holdings & Archive (Q3 2025)
Franchise Capital LtdCIK: 0001859388
Sector-focusedContrarianConcentrated strategy
Total reported value
$229.8M
Reporting period: 2025-09-30 · Number of holdings: 30
Franchise Capital Ltd disclosed 30 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $229.8M and a quarterly turnover rate of 37.8%.
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Personality snowflake
- Concentration
- 82.03
- Portfolio Stability
- 37.82
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 60
- Sizing Uniformity
- 76.91
Franchise Capital Ltd's disclosed holdings carry a Herfindahl concentration index of 0.205 — mathematically equivalent to about 5 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.31), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd TSM
0.0% $28.4M
Trim PDD
-0.1% $5.3M
Trim META
-25.6% -$7.2M
Trim NVDA
0.0% $11.8M
Trim LKNCY
0.0% $1.4M
Add TSLA
0.0% $2.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 29.65% | -3.88% | — | |
| 2 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 28.85% | -7.45% | -0.12% | |
| 3 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 14.54% | +11.56% | — | |
| 4 | META | Meta Platforms Inc-class A | Stock-Comm Services | 7.77% | -7.17% | -25.57% | |
| 5 | LKNCY | Luckin Coffee Inc - Adr | Stock-Other | 6.97% | -1.71% | — | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.81% | +2.81% | NEW | |
| 7 | TSLA | Tesla Inc | Stock-Consumer Disc | 2.48% | +0.50% | — | |
| 8 | AVGO | Broadcom Inc | Stock-Tech | 1.19% | +1.19% | NEW | |
| 9 | CHA | Chagee Holdings Ltd-adr | Stock-Other | 1.13% | +1.13% | NEW | |
| 10 | CRDO | Credo Technology Group Holding Ltd | Stock-Tech | 1.06% | +1.06% | NEW | |
| 11 | RBLX | Roblox CORP -class A | Stock-Comm Services | 0.91% | +0.91% | NEW | |
| 12 | YB | Yuanbao Inc -adr | Stock-Other | 0.57% | +0.57% | NEW | |
| 13 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.37% | +0.37% | NEW | |
| 14 | SE | Sea Ltd-adr | Stock-Comm Services | 0.33% | +0.33% | NEW | |
| 15 | SHOP | Shopify Inc - Class A | Stock-Tech | 0.33% | +0.33% | NEW | |
| 16 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.11% | -0.04% | +53.40% | |
| 17 | ETHA | Ishares Ethereum Trust ETF | ETF-Other | 0.10% | +0.10% | NEW | |
| 18 | VTR | Ventas Inc | Stock-Real Estate | 0.10% | +0.08% | — | |
| 19 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 0.10% | +0.01% | +16.54% | |
| 20 | PHM | Pultegroup Inc | Stock-Consumer Disc | 0.09% | +0.09% | NEW | |
| 21 | EQIX | Equinix Inc | Stock-Real Estate | 0.09% | +0.02% | +23.04% | |
| 22 | HST | Host Hotels & Resorts Inc | Stock-Real Estate | 0.08% | +0.01% | — | |
| 23 | AHR | American Healthcare Reit Inc | Stock-Real Estate | 0.08% | +0.04% | — | |
| 24 | DHI | Dr Horton Inc | Stock-Consumer Disc | 0.08% | +0.04% | +72.04% | |
| 25 | CRCL | Circle Internet Group Inc | Stock-Financials | 0.05% | +0.05% | NEW | |
| 26 | WELL | Welltower Inc | Stock-Real Estate | 0.04% | +0.02% | -26.01% | |
| 27 | BEKE | Ke Holdings Inc-adr | Stock-Other | 0.03% | +0.03% | NEW | |
| 28 | VICI | Vici Properties Inc | Stock-Real Estate | 0.03% | -0.01% | — | |
| 29 | NVR | Nvr Inc | Stock-Consumer Disc | 0.02% | -0.01% | — | |
| 30 | IRM | Iron Mountain Inc | Stock-Real Estate | 0.02% | — | — |
Portfolio Performance
Performance for Q3 2026
+0.3%
Performance Last 4 Quarters
+6.7%
- Stdev
- +25.5%
- Beta
- +1.15
- Alpha
- -8.9%
- Max Drawdown
- -19.5%
- Annualized Perf
- +11.7%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +1.12
- Stutzer
- +0.17
- Treynor
- +0.12
- Sterling
- +0.47
- Calmar
- +0.6
- Information Ratio
- -0.28
- Tracking Error
- +20.8%
- Stdev Down
- +12.6%
- Winning Months %
- +44.4%
- Losing Months %
- +55.6%
- Best 12 Months
- +42.5%
- Worst 12 Months
- -13.1%
- Efficiency Ratio
- +0.21
- Sharpe
- +0.56
- Stdev Sectors
- +15.7%
- Skewness
- +0.93
- Kurtosis
- +0.98
- Upside Potential
- +3.08
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2025 Q3 | 30 | $229.8M | 38 | ||
| 2025 Q2 | 24 | $191.7M | 0 | ||
| 2025 Q1 | 20 | $167.9M | 100 | ||
| 2024 Q4 | 16 | $215.7M | 0 | ||
| 2024 Q3 | 10 | $277.4M | 0 | ||
| 2024 Q2 | 9 | $413.5M | 0 | ||
| 2024 Q1 | 16 | $537.7M | 0 | ||
| 2023 Q4 | 16 | $399.4M | 0 | ||
| 2023 Q3 | 19 | $279.4M | 0 | ||
| 2023 Q2 | 13 | $319.4M | 0 | ||
| 2023 Q1 | 20 | $383.5M | 0 | ||
| 2022 Q4 | 15 | $326.1M | 0 | ||
| 2022 Q3 | 15 | $229.8M | 0 | ||
| 2022 Q2 | 23 | $298.8M | 0 | ||
| 2022 Q1 | 20 | $363.6M | 0 | ||
| 2021 Q4 | 18 | $590.6M | 0 | ||
| 2021 Q3 | 21 | $837.1M | 0 | ||
| 2021 Q2 | 24 | $1.2B | 93 | ||
| 2021 Q1 | 20 | $1.0B | 0 |
Holding changes this quarter
Franchise Capital Ltd's most significant position changes for 2025-09-30: New buy: Alphabet Inc-cl C (GOOG); New buy: Broadcom Inc (AVGO); New buy: Chagee Holdings Ltd-adr (CHA); New buy: Credo Technology Group Holding Ltd (CRDO); New buy: Roblox CORP -class A (RBLX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | +11.6% | — | Add |
| 2 | TSLA | Tesla Inc | +0.5% | — | Unchanged |
| 3 | VTR | Ventas Inc | +0.1% | — | Add |
| 4 | DHI | Dr Horton Inc | 0% | +72.04% | Add |
| 5 | AHR | American Healthcare Reit Inc | 0% | — | Add |
| 6 | EQIX | Equinix Inc | 0% | +23.04% | Add |
| 7 | WELL | Welltower Inc | 0% | -26.01% | Add |
| 8 | HST | Host Hotels & Resorts Inc | 0% | — | Add |
| 9 | DLR | Digital Realty Trust Inc | 0% | +16.54% | Add |
| 10 | IRM | Iron Mountain Inc | — | — | Unchanged |
| 11 | NVR | Nvr Inc | 0% | — | Unchanged |
| 12 | VICI | Vici Properties Inc | 0% | — | Unchanged |
| 13 | IBIT | Ishares Bitcoin Trust ETF | 0% | +53.40% | Trim |
| 14 | LKNCY | Luckin Coffee Inc - Adr | -1.7% | — | Unchanged |
| 15 | NVDA | Nvidia CORP | -3.9% | — | Trim |
| 16 | META | Meta Platforms Inc-class A | -7.2% | -25.57% | Trim |
| 17 | PDD | Pdd Holdings Inc | -7.5% | -0.12% | Trim |
| 18 | GOOG | Alphabet Inc-cl C | — | NEW | New buy |
| 19 | AVGO | Broadcom Inc | — | NEW | New buy |
| 20 | CHA | Chagee Holdings Ltd-adr | — | NEW | New buy |
| 21 | CRDO | Credo Technology Group Holding Ltd | — | NEW | New buy |
| 22 | RBLX | Roblox CORP -class A | — | NEW | New buy |
| 23 | DUOL | Duolingo | — | EXIT | Sold out |
| 24 | YB | Yuanbao Inc -adr | — | NEW | New buy |
| 25 | PLTR | Palantir Technologies Inc-a | — | NEW | New buy |
| 26 | SE | Sea Ltd-adr | — | NEW | New buy |
| 27 | SHOP | Shopify Inc - Class A | — | NEW | New buy |
| 28 | ETHA | Ishares Ethereum Trust ETF | — | NEW | New buy |
| 29 | PHM | Pultegroup Inc | — | NEW | New buy |
| 30 | CRCL | Circle Internet Group Inc | — | NEW | New buy |
| 31 | BEKE | Ke Holdings Inc-adr | — | NEW | New buy |
| 32 | EPRT | Essential Properties Realty | — | EXIT | Sold out |
| 33 | LEN | Lennar Corp-a | — | EXIT | Sold out |
Filing History
FAQ
What is Franchise Capital Ltd and what type of investor is it?
Franchise Capital Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $229.8M, spread across 30 disclosed positions.
What are Franchise Capital Ltd's largest equity positions?
Based on the latest 13F filing, Franchise Capital Ltd's top holdings by market value are:
1. Nvidia CORP (NVDA) — $68.1M (29.6%)
2. Pdd Holdings Inc (PDD) — $66.3M (28.9%)
3. Taiwan Semiconductor-sp Adr (TSM) — $33.4M (14.5%)
4. Meta Platforms Inc-class A (META) — $17.8M (7.8%)
5. Luckin Coffee Inc - Adr (LKNCY) — $16.0M (7.0%)
What changes did Franchise Capital Ltd make in its most recent portfolio filing?
In the latest reported quarter, Franchise Capital Ltd made 28 notable position adjustments: 13 new positions were initiated, 8 existing holdings were added to, 4 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Alphabet Inc-cl C (GOOG); New buy: Broadcom Inc (AVGO); New buy: Chagee Holdings Ltd-adr (CHA); New buy: Credo Technology Group Holding Ltd (CRDO); New buy: Roblox CORP -class A (RBLX)
What sectors does Franchise Capital Ltd focus on?
Franchise Capital Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 51.6%
• Consumer Discretionary: 35.1%
• Communication Services: 13.3%
Investment Profile
Franchise Capital Ltd returned an annualized 11.7% over the trailing 36 months — underperforming the S&P 500 by 8.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.15 (more volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 51.6% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 38 over the past 4 quarters — a shift toward more active trading.
It has added to its TSM position over the past two quarters (+$28.4M, now $33.4M), while trimming META over the same stretch (-$7.2M, still holding $17.8M).
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