Portman Square Capital LLP
Long book
$576.2M
Q1 2026
Positions
39
Top-10 weight
74%
concentration
Last quarter
+7.6%
SPY +14.8%
Turnover
41%
of book per quarter
Strategy in plain words
auto-generated from filingsPortman Square Capital LLP is a concentrated fundamental stock-picker, running a $576.2M US long book across 39 positions.
The portfolio is concentrated: the top 10 names carry 74% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: PPL CORPORATION, SOUTHERN CO, MICROCHIP TECHNOLOGY INC, NOVANTA INC, ALBEMARLE CORP.
Over the last 9 quarters its long book ran on average 2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-5.1%
Q2 2024
+3.8%
Q3 2024
-5.4%
Q4 2024
-1.9%
Q1 2025
+13.2%
Q2 2025
+3.4%
Q3 2025
+3.2%
Q4 2025
+3.6%
Q1 2026
+7.6%
Sector allocation
Utilities 45%
Technology 28%
Materials 10%
Other 7%
Financials 3%
Consumer discretionary 2%
Services media 2%
Industrials 2%
Long book by quarter
What does Portman Square own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PPL PPL CORPORATION | Utilities | 1.5M | $78.3M | 13.6% | New |
| SO SOUTHERN CO | Utilities | 1.3M | $69.2M | 12.0% | -25.2% |
| MCHP MICROCHIP TECHNOLOGY INC | Technology | 1.2M | $67.5M | 11.7% | +840.0% |
| NOVT NOVANTA INC | Technology | 960.0K | $51.4M | 8.9% | +134.1% |
| ALB ALBEMARLE CORP | Materials | 541.0K | $39.0M | 6.8% | -21.7% |
| NEE NEXTERA ENERGY INC | Utilities | 385.4K | $35.8M | 6.2% | -1.4% |
| NEE NEXTERA ENERGY INC | Utilities | 575.0K | $29.0M | 5.0% | New |
| BA 6 10/15/27 BOEING CO/THE | — | 356.0K | $23.0M | 4.0% | +249.0% |
| PCG PG&E CORP | Utilities | 381.0K | $16.5M | 2.9% | Held |
| ALB ALBEMARLE CORP | Materials | 86.8K | $15.6M | 2.7% | +39.7% |
| HPE 7.625 09/01/27 HP ENTERPRISE CO | — | 220.0K | $14.3M | 2.5% | Held |
| W WAYFAIR INC- CLASS A | Consumer discretionary | 182.0K | $13.7M | 2.4% | +540.5% |
| ARES ARES MANAGEMENT CORP | Financials | 312.0K | $11.4M | 2.0% | -37.6% |
| ORCL ORACLE CORP | Technology | 67.0K | $9.9M | 1.7% | New |
| FOUR SHIFT4 PAYMENTS INC | Services media | 155.0K | $8.5M | 1.5% | Held |
| RDDT REDDIT INC-CL A | Technology | 54.6K | $7.4M | 1.3% | New |
| IREN IREN LTD | Financials | 176.5K | $6.0M | 1.0% | New |
| ON ON SEMICONDUCTOR | Technology | 96.1K | $6.0M | 1.0% | +186.8% |
| NEE NEXTERA ENERGY INC | Utilities | 100.0K | $5.7M | 1.0% | Held |
| ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 16.9K | $5.6M | 1.0% | +588.8% |
| PCG P G & E CORP | Utilities | 314.8K | $5.5M | 1.0% | +129.1% |
| FLR FLUOR CORP | Industrials | 99.8K | $4.7M | 0.8% | +13.0% |
| HPE HEWLETT PACKARD ENTERPRISE | Technology | 188.5K | $4.5M | 0.8% | -10.8% |
| LCID LUCID GROUP INC | Industrials | 461.5K | $4.4M | 0.8% | -0.5% |
| TTEK TETRA TECH INC | Services media | 144.1K | $4.3M | 0.8% | -29.0% |
| SO SOUTHERN CO/THE | Utilities | 44.4K | $4.3M | 0.7% | -6.8% |
| NBIS NEBIUS GROUP NV | Technology | 35.1K | $3.6M | 0.6% | New |
| NEE NEXTERA ENERGY INC | Utilities | 51.0K | $2.7M | 0.5% | Held |
| SYNA SYNAPTICS INC | Technology | 33.3K | $2.3M | 0.4% | +103.0% |
| NET CLOUDFLARE INC - CLASS A | Technology | 7.3K | $1.5M | 0.3% | -5.5% |
| VOYG VOYAGER TECHNOLOGIES INC-A | Industrials | 28.7K | $671K | 0.1% | Held |
| SOFI SOFI TECHNOLOGIES INC | Financials | 37.8K | $600K | 0.1% | New |
| UPST UPSTART HOLDINGS INC | Financials | 11.8K | $303K | 0.1% | +29.8% |
| XRX XEROX HOLDINGS CORP | Technology | 16.8K | $22K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 102 | $2.60B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 117 | $2.26B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 16, 2025 | 107 | $2.26B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 177 | $3.42B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 2, 2025 | 213 | $3.76B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 248 | $2.79B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 306 | $2.69B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 323 | $2.92B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 15, 2024 | 299 | $3.61B | canonical | SEC ↗ |
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