Trium Capital LLP
Long book
$137.7M
Q1 2026
Positions
61
Top-10 weight
70%
concentration
Last quarter
-7.7%
SPY +14.8%
Turnover
71%
of book per quarter
Strategy in plain words
auto-generated from filingsTrium Capital LLP is a concentrated fundamental stock-picker, running a $137.7M US long book across 61 positions.
The portfolio is concentrated: the top 10 names carry 70% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: AT&T INC, SAPIENS INTERNATIONAL CORP, SUNOPTA INC, HOLOGIC INC, ONESTREAM INC.
Over the last 9 quarters its long book ran on average 0.1pp per quarter behind the S&P 500, beating the index in 5 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
-1.9%
Q2 2024
+13.0%
Q3 2024
-3.3%
Q4 2024
+9.1%
Q1 2025
+2.4%
Q2 2025
+10.1%
Q3 2025
+9.0%
Q4 2025
+9.0%
Q1 2026
-7.7%
Sector allocation
Other 37%
Communications 29%
Industrials 11%
Utilities 7%
Healthcare 6%
Consumer discretionary 3%
Consumer staples 2%
Materials 1%
Long book by quarter
What does Trium Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| T AT&T INC | Communications | 893.0K | $36.0M | 26.1% | New |
| S3P SAPIENS INTERNATIONAL CORP | — | 296.4K | $12.9M | 9.4% | New |
| STKL SUNOPTA INC | — | 1.4M | $9.3M | 6.8% | New |
| HO1 HOLOGIC INC | — | 112.5K | $8.5M | 6.2% | New |
| K4F ONESTREAM INC | — | 272.8K | $6.5M | 4.8% | New |
| ALMS ALUMIS INC | Healthcare | 191.4K | $4.2M | 3.1% | -78.6% |
| DM* DESKTOP METAL INC-A | — | 764.4K | $3.8M | 2.8% | New |
| QTRX QUANTERIX CORP | Healthcare | 994.2K | $3.5M | 2.5% | +21.6% |
| FFWM FIRST FOUNDATION INC | — | 442.9K | $2.6M | 1.9% | New |
| ACI ALBERTSONS COS INC - CLASS A | Consumer discretionary | 136.3K | $2.3M | 1.7% | -79.0% |
| RSG REPUBLIC SERVICES INC | Utilities | 10.0K | $2.2M | 1.6% | +2.5% |
| WAB WABTEC CORP | Industrials | 8.4K | $2.1M | 1.5% | -8.1% |
| WM WASTE MANAGEMENT INC | Utilities | 8.4K | $1.9M | 1.4% | +18.2% |
| NVT NVENT ELECTRIC PLC | Industrials | 15.9K | $1.9M | 1.4% | -38.6% |
| EXC EXELON CORP | Utilities | 37.8K | $1.9M | 1.3% | +171.9% |
| LIN LINDE PLC | Materials | 3.4K | $1.7M | 1.2% | -33.0% |
| PEG PUBLIC SERVICE ENTERPRISE GP | Utilities | 19.6K | $1.6M | 1.2% | +159.0% |
| CTVA CORTEVA INC | Consumer staples | 18.5K | $1.5M | 1.1% | +32.1% |
| JCI JOHNSON CONTROLS INTERNATION | Industrials | 11.7K | $1.5M | 1.1% | New |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 6.3K | $1.5M | 1.1% | New |
| ONTF ON24 INC | — | 176.6K | $1.4M | 1.0% | New |
| OC OWENS CORNING | Industrials | 12.5K | $1.4M | 1.0% | -4.5% |
| AYI ACUITY INC | Industrials | 4.6K | $1.3M | 0.9% | -20.8% |
| WTRG ESSENTIAL UTILITIES INC | Utilities | 31.6K | $1.3M | 0.9% | New |
| EMR EMERSON ELECTRIC CO | Industrials | 9.4K | $1.2M | 0.9% | New |
| DAR DARLING INGREDIENTS INC | Consumer staples | 19.8K | $1.2M | 0.9% | -61.9% |
| VLTO VERALTO CORP | Technology | 13.6K | $1.2M | 0.9% | -24.6% |
| PNR PENTAIR PLC | Industrials | 12.4K | $1.1M | 0.8% | -28.4% |
| MTZ MASTEC INC | Industrials | 3.2K | $1.0M | 0.7% | New |
| WTS WATTS WATER TECHNOLOGIES-A | Industrials | 3.5K | $1.0M | 0.7% | +9.8% |
| GBX GREENBRIER COMPANIES INC | Industrials | 14.6K | $771K | 0.6% | -5.8% |
| GRC GORMAN-RUPP CO | Industrials | 11.1K | $687K | 0.5% | New |
| SW SMURFIT WESTROCK PLC | Other | 16.2K | $645K | 0.5% | -30.0% |
| SHLS SHOALS TECHNOLOGIES GROUP -A | Technology | 74.8K | $492K | 0.4% | -31.2% |
| SDA SEALED AIR CORP | Services media | 9.3K | $392K | 0.3% | +140.9% |
| DVS DOLLY VARDEN SILVER LTD | — | 12.8K | $35K | 0.0% | New |
| IREN IREN LTD | Financials | 600 | $21K | 0.0% | New |
| NXT NEXTPOWER INC-CL A | Technology | 12 | $1K | 0.0% | New |
| BWLP BW LPG LTD | Industrials | 81 | $1K | 0.0% | New |
| BKR BAKER HUGHES CO | Industrials | 23 | $1K | 0.0% | New |
| OCW CMB TECH NV | — | 103 | $1K | 0.0% | New |
| EE EXCELERATE ENERGY INC-A | Utilities | 36 | $1K | 0.0% | New |
| FSLR FIRST SOLAR INC | Technology | 5 | $986 | 0.0% | -99.9% |
| SNEX STONEX GROUP INC | Financials | 10 | $806 | 0.0% | New |
| BLD* TOPBUILD CORP | — | 2 | $703 | 0.0% | -100.0% |
| PANW PALO ALTO NETWORKS INC | Technology | 4 | $641 | 0.0% | New |
| CTGO CONTANGO SILVER & GOLD INC | Materials | 15 | $281 | 0.0% | New |
| GNK GENCO SHIPPING & TRADING LTD | Industrials | 10 | $226 | 0.0% | New |
| CDE COEUR MINING INC | Materials | 4 | $75 | 0.0% | New |
| DMC DEL MONTE CORP | Consumer staples | 1 | $40 | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 16, 2026 | 63 | $142.0M | confidential canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 50 | $128.9M | confidential canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 16, 2025 | 52 | $255.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 56 | $401.9M | confidential canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 55 | $801.2M | confidential $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 15, 2025 | 40 | $705.0M | confidential $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 7, 2024 | 63 | $350.0M | confidential $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 89 | $791.4M | confidential $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 71 | $266.9M | confidential $K fixed canonical | SEC ↗ |
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