Isabella Capital Management LLP — 13F Holdings & Portfolio
CIK 2134988 · latest 13F-HR filed 2026-08-03
Isabella Capital Management LLP manages $188.3M in 13F-reported U.S. long-equity assets across 8 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BABAF (44.52%), HYG (21.23%), MARA (14.85%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 4 new positions and exited 4; 2 existing positions rose in reported value and 1 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-03
vs 2025-12-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 100%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated May 12, 2026.
THIRD FLOOR, CAVENDISH HOUSE,
WESTMINSTER, LONDON W1G 0PJ
United Kingdom
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ISABELLA CAPITAL SERVICES LTD Control | CORPORATE MEMBER since Mar 2024 | 75% or more | Foreign Entity |
| Murphy, Michael Control | PARTNER since Jul 2025 | Less than 5% | Individual |
| SHAH, PRATIK, RASHIKLAL Control | CHIEF OPERATING OFFICER since Nov 2025 | Less than 5% | Individual |
| THOMPSON, JONATHAN, MARK Control | CHIEF INVESTMENT OFFICER since Nov 2024 | 75% or more | Individual |
| BAYLEY HOUSE LTD Control Indirect owner via ISABELLA CAPITAL SERVICES LTD | SHAREHOLDER since Sep 2025 | General partner, trustee or manager | Foreign Entity |
| THOMPSON, JONATHAN, MARK Control Indirect owner via BAYLEY HOUSE LTD | SHAREHOLDER since Aug 2024 | 75% or more | Individual |
Ownership & leadership changes · 2 filings with changes since Sep 16, 2025
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- AddedMurphy, Michael · PARTNER · Less than 5% · control person
- No longer listedJOHNSON, MATTHEW, PAUL · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Nov 2024
- AddedSHAH, PRATIK, RASHIKLAL · CHIEF OPERATING OFFICER · Less than 5% · control person
- ListedBAYLEY HOUSE LTD · SHAREHOLDER · General partner, trustee or manager · indirect via ISABELLA CAPITAL SERVICES LTD · control person
- ListedISABELLA CAPITAL SERVICES LTD · CORPORATE MEMBER · 75% or more · control person
- ListedJOHNSON, MATTHEW, PAUL · CHIEF OPERATING OFFICER · Less than 5% · control person
- ListedTHOMPSON, JONATHAN, MARK · CHIEF INVESTMENT OFFICER · 75% or more · control person
- ListedTHOMPSON, JONATHAN, MARK · SHAREHOLDER · 75% or more · indirect via BAYLEY HOUSE LTD · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ALIBABA GROUP HLDG LTD$46.5M +124.6%
- MARA HOLDINGS INC$19.8M +240.6%
New Positions
- WEIBO CORP$15.0M
- SUPER MICRO COMPUTER INC$4.9M
- ALPHABET INC$505.6K
- ALPHABET INC$500.8K
Exited Positions
- STRATEGY INC$12.0M
- EQUINOX GOLD CORP$11.8M
- STRATEGY INC$9.0M
- STRATEGY INC$2.9M
Isabella Capital Management LLP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ALIBABA GROUP HLDG LTD | BABAF | 01609WBG6 | $83.9M | 44.52% | 71,000,000 | PRN |
| 2 | ISHARES TR Put | HYG | 464288513 | $40.0M | 21.23% | 500,000 | SH |
| 3 | MARA HOLDINGS INC | MARA | 565788AD8 | $28.0M | 14.85% | 25,000,000 | PRN |
| 4 | ISHARES TR | HYG | 464288513 | $15.6M | 8.28% | 195,000 | SH |
| 5 | WEIBO CORP | WEIBF | 948596AJ0 | $15.0M | 7.98% | 15,000,000 | PRN |
| 6 | SUPER MICRO COMPUTER INC | SMCI | 86800UAF1 | $4.9M | 2.60% | 5,500,000 | PRN |
| 7 | ALPHABET INC | GOOGM | 02079K404 | $505.6K | 0.27% | 10,000 | SH |
| 8 | ALPHABET INC | GOOGN | 02079K602 | $500.8K | 0.27% | 10,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-03 | $188.3M | 8 | 0002134988-26-000002 |
| 2026-03-31 | 2026-05-15 | $134.9M | 9 | 0000902664-26-002480 |
| 2025-12-31 | 2026-05-15 | $140.6M | 8 | 0000902664-26-002481 |
LONDON W1G 0PJ