Trinity Street Asset Management LLP
Long book
$1.46B
Q1 2026
Positions
22
Top-10 weight
82%
concentration
Last quarter
+14.3%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsTrinity Street Asset Management LLP is a concentrated fundamental stock-picker, running a $1.46B US long book across 22 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: TAIWAN SEMICONDUCTOR-SP ADR, INFOSYS LTD-SP ADR, RYANAIR HOLDINGS PLC-SP ADR, HDFC BANK LTD-ADR, ICON PLC.
Over the last 9 quarters its long book ran on average 2.2pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.6%
Q2 2024
-1.6%
Q3 2024
-3.7%
Q4 2024
-6.2%
Q1 2025
+17.1%
Q2 2025
+3.6%
Q3 2025
+8.1%
Q4 2025
-14.1%
Q1 2026
+14.3%
Sector allocation
Technology 29%
Healthcare 24%
Industrials 18%
Services media 9%
Consumer discretionary 6%
Utilities 6%
Other 5%
Financials 4%
Long book by quarter
What does Trinity Street own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ICLR ICON PLC | Healthcare | 1.2M | $133.7M | 9.2% | +12.7% |
| GOOGL ALPHABET INC-CL A | Technology | 146.1K | $42.0M | 2.9% | -1.9% |
| MSFT MICROSOFT CORP | Technology | 94.0K | $34.8M | 2.4% | +25.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 153.8K | $32.0M | 2.2% | +4.1% |
| CLH CLEAN HARBORS INC | Utilities | 109.4K | $31.4M | 2.2% | -6.6% |
| NOC NORTHROP GRUMMAN CORP | Technology | 45.2K | $30.9M | 2.1% | -1.9% |
| COHR COHERENT CORP | Other | 122.5K | $29.2M | 2.0% | -14.9% |
| NUE NUCOR CORP | Industrials | 156.8K | $26.5M | 1.8% | -2.0% |
| CNH CNH INDUSTRIAL NV | Industrials | 2.4M | $26.3M | 1.8% | -1.9% |
| SARO STANDARDAERO INC | Industrials | 994.7K | $25.7M | 1.8% | New |
| EFX EQUIFAX INC | Services media | 141.8K | $25.5M | 1.8% | +30.8% |
| UBER UBER TECHNOLOGIES INC | Services media | 337.6K | $24.3M | 1.7% | +16.8% |
| DHI DR HORTON INC | Industrials | 157.1K | $21.6M | 1.5% | -1.9% |
| CTSH COGNIZANT TECH SOLUTIONS-A | Technology | 326.4K | $20.0M | 1.4% | -1.9% |
| INTU INTUIT INC | Technology | 46.1K | $19.9M | 1.4% | +18.9% |
| CI THE CIGNA GROUP | Financials | 74.3K | $19.8M | 1.4% | -1.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 51.0K | $10.4M | 0.7% | +43.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 22 | $1.46B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 22 | $1.59B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 28, 2025 | 21 | $1.47B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 20 | $1.46B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 10, 2025 | 16 | $988.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 15, 2025 | 14 | $1.02B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 25, 2024 | 19 | $1.00B | SEC ↗ | |
| Q3 2024 | 13F-HR/ARESTATEMENT | Oct 25, 2024 | 15 | $1.00B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 5, 2024 | 16 | $1.13B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 18 | $1.25B | canonical | SEC ↗ |
Similar funds
Sanders Capital, LLCGATES FOUNDATION TRUSTEAGLE CAPITAL MANAGEMENT LLCWoodbridge Co LtdAlecta Tjanstepension OmsesidigtMubadala Investment Co PJSCH&H International Investment, LLCNewlands Management Operations LLCINVESTOR ABIndependent Franchise Partners LLPPineStone Asset Management Inc.Pentwater Capital Management LP