PS
Portman Square Capital LLP — 13F Portfolio Changes & Top Buys (Q2 2026)
Portman Square Capital LLPCIK: 0001966898
Diversified strategyLong-term holderQuality / disciplined sizing
Total reported value
$2.1B
Reporting period: 2026-06-30 · Number of holdings: 94
Portman Square Capital LLP disclosed 94 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.1B and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 17.27
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 64.13
- Diversification
- 100
- Sizing Uniformity
- 85.52
Portman Square Capital LLP's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, well below its 94 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 1.45), 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 IREN
+2221.2% $181.3M
Add BABA
+536.1% $143.1M
Trim GLD
-42.2% -$188.8M
Add RDDT
+133.3% $84.1M
Add W
+416.4% $76.2M
Sold out NBIS
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 71 holdings (of 94 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IREN | IREN Limited | Stock-Other | 8.88% | +8.65% | +2221.24% | |
| 2 | GLD | Spdr Gold Shares | ETF-Commodities | 8.76% | -5.63% | -42.20% | |
| 3 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 8.54% | +7.11% | +536.14% | |
| 4 | NEE | Nextera Energy Inc | Stock-Utilities | 6.87% | -2.33% | -35.76% | |
| 5 | RDDT | Reddit Inc-cl A | Stock-Comm Services | 5.97% | +4.36% | +133.28% | |
| 6 | W | Wayfair Inc- Class A | Stock-Consumer Disc | 4.29% | +3.74% | +416.44% | |
| 7 | SO | Southern Co/the | Stock-Utilities | 4.27% | +0.44% | -8.64% | |
| 8 | PPL | Ppl CORP | Stock-Utilities | 3.19% | +0.58% | +4.36% | |
| 9 | AKAM | Akamai Technologies Inc | Stock-Tech | 3.15% | +1.63% | +63.39% | |
| 10 | SO 7.125 12-15-28 ABond | Southern Co | Bond | 2.93% | +0.27% | -7.49% | |
| 11 | PCG | P G & E CORP | Stock-Utilities | 2.66% | -0.13% | -19.04% | |
| 12 | ALB | Albemarle CORP | Stock-Materials | 2.41% | -0.74% | -17.18% | |
| 13 | MCHP | Microchip Technology Inc | Stock-Tech | 2.28% | +0.25% | -35.55% | |
| 14 | ORCL | Oracle CORP | Stock-Tech | 2.21% | -0.75% | -39.11% | |
| 15 | GPN | Global Payments Inc | Stock-Industrials | 1.70% | +0.42% | — | |
| 16 | PPL 7 02-15-29Bond | Ppl Corporation | Bond | 1.69% | -1.32% | -52.29% | |
| 17 | MCHP 7.5 03-15-28Bond | Microchip Technology Inc | Bond | 1.64% | -0.96% | -61.70% | |
| 18 | ALB 7.25 03-01-27Bond | Albemarle CORP | Bond | 1.42% | -0.08% | — | |
| 19 | ON | On Semiconductor | Stock-Tech | 1.40% | +0.09% | -42.98% | |
| 20 | ✓ | Stock-Other | 1.30% | +1.30% | NEW | ||
| 21 | SPB | Spectrum Brands Holdings Inc | Stock-Other | 1.18% | +0.36% | -0.10% | |
| 22 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.15% | +1.15% | NEW | |
| 23 | TTEK | Tetra Tech Inc | Stock-Industrials | 1.09% | +0.13% | -3.71% | |
| 24 | FE | Firstenergy CORP | Stock-Utilities | 1.08% | +0.10% | -5.35% | |
| 25 | EVRG 4.5 12-15-27Bond | Evergy Inc | Bond | 1.06% | +0.02% | -21.00% | |
| 26 | ALNY | Alnylam Pharmaceuticals Inc | Stock-Healthcare | 1.02% | +0.32% | +29.90% | |
| 27 | STWD | Starwood Property Trust Inc | Stock-Real Estate | 0.98% | -0.06% | -19.11% | |
| 28 | NEE 7.375 02-15-29Bond | Nextera Energy Inc | Bond | 0.93% | -0.19% | -28.70% | |
| 29 | WGO | Winnebago Industries | Stock-Other | 0.86% | +0.16% | -0.92% | |
| 30 | SYNA | Synaptics Inc | Stock-Other | 0.86% | +0.38% | -18.55% | |
| 31 | ITRI | Itron Inc | Stock-Tech | 0.76% | +0.12% | — | |
| 32 | NET | Cloudflare Inc - Class A | Stock-Tech | 0.75% | +0.19% | -8.22% | |
| 33 | PCG 6 12-01-27 ABond | Pg&e CORP | Bond | 0.75% | +0.12% | — | |
| 34 | FLR | Fluor CORP | Stock-Industrials | 0.73% | -0.18% | -41.52% | |
| 35 | ARES | Ares Management CORP - A | Stock-Financials | 0.69% | -0.60% | -57.56% | |
| 36 | BBIO | Bridgebio Pharma Inc | Stock-Healthcare | 0.68% | +0.13% | — | |
| 37 | NOVT 6.5 11-01-28Bond | Novanta Inc | Bond | 0.68% | -1.30% | -78.13% | |
| 38 | GH | Guardant Health Inc | Stock-Healthcare | 0.67% | +0.31% | -5.20% | |
| 39 | ZTO | Zto Express Cayman Inc-adr | Stock-Other | 0.60% | -0.01% | -10.60% | |
| 40 | BL | Blackline Inc | Stock-Tech | 0.58% | -0.05% | -0.09% | |
| 41 | HPE | Hewlett Packard Enterprise | Stock-Tech | 0.58% | -2.65% | -92.35% | |
| 42 | NOVT | Novanta Inc | Stock-Other | 0.57% | -0.48% | -68.13% | |
| 43 | ENOV | Enovis CORP | Stock-Other | 0.55% | -0.32% | -43.54% | |
| 44 | JAZZ 3.125 09-15-30Bond | Jazz Investments I LTD | Bond | 0.48% | -0.20% | -52.60% | |
| 45 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 0.48% | +0.09% | -20.94% | |
| 46 | O | Realty Income CORP | Stock-Real Estate | 0.42% | -0.32% | -54.50% | |
| 47 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.39% | +0.39% | NEW | |
| 48 | FXI | Ishares China Large-cap ETF | ETF-Emerging Markets | 0.39% | +0.39% | NEW | |
| 49 | USO | United States Oil Fund LP | ETF-Other | 0.38% | -0.87% | -70.58% | |
| 50 | LCID | Lucid Group Inc | Stock-Consumer Disc | 0.36% | -0.15% | -17.06% |
1–50 of 71
Portfolio Performance
Performance for Q3 2026
-4.8%
Performance Last 4 Quarters
+14.2%
Based on 81% of reported portfolio value with available pricing
- Stdev
- +15.4%
- Beta
- +1.02
- Alpha
- -5.9%
- Max Drawdown
- -11.5%
- Annualized Perf
- +14.2%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.63
- Stutzer
- +0.27
- Treynor
- +0.14
- Sterling
- +0.76
- Calmar
- +1.23
- Information Ratio
- -0.69
- Tracking Error
- +8%
- Stdev Down
- +8.9%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +41.8%
- Worst 12 Months
- +0.1%
- Efficiency Ratio
- +0.35
- Sharpe
- +0.94
- Stdev Sectors
- +10.7%
- Skewness
- -0.21
- Kurtosis
- -0.97
- Upside Potential
- +3.45
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Portman Square Capital LLP's most significant position changes for 2026-06-30: Sold out: Nebius Group N.V. (NBIS); Sold out: Boeing Co/the (BA); Sold out: Coreweave Inc-cl A (CRWV); Sold out: Ugi CORP (UGI); New buy: .
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IREN | IREN Limited | +8.7% | +2221.24% | Add |
| 2 | BABA | Alibaba Group Holding-sp Adr | +7.1% | +536.14% | Add |
| 3 | RDDT | Reddit Inc-cl A | +4.4% | +133.28% | Add |
| 4 | W | Wayfair Inc- Class A | +3.7% | +416.44% | Add |
| 5 | AKAM | Akamai Technologies Inc | +1.6% | +63.39% | Add |
| 6 | ✓ | +1.3% | NEW | New buy | |
| 7 | STX | Seagate Technology Holdings plc | +1.2% | NEW | New buy |
| 8 | PPL | Ppl CORP | +0.6% | +4.36% | Add |
| 9 | SO | Southern Co/the | +0.4% | -8.64% | Trim |
| 10 | GPN | Global Payments Inc | +0.4% | — | Unchanged |
| 11 | IWM | Ishares Russell 2000 ETF | +0.4% | NEW | New buy |
| 12 | FXI | Ishares China Large-cap ETF | +0.4% | NEW | New buy |
| 13 | SYNA | Synaptics Inc | +0.4% | -18.55% | Trim |
| 14 | SPB | Spectrum Brands Holdings Inc | +0.4% | -0.10% | Trim |
| 15 | EWY | Ishares Msci South Korea ETF | +0.3% | NEW | New buy |
| 16 | WDC | Western Digital CORP | +0.3% | NEW | New buy |
| 17 | ALNY | Alnylam Pharmaceuticals Inc | +0.3% | +29.90% | Add |
| 18 | SMTC | Semtech CORP | +0.3% | NEW | New buy |
| 19 | GH | Guardant Health Inc | +0.3% | -5.20% | Trim |
| 20 | SO 7.125 12-15-28 ABond | Southern Co | +0.3% | -7.49% | Trim |
| 21 | MCHP | Microchip Technology Inc | +0.3% | -35.55% | Trim |
| 22 | NET | Cloudflare Inc - Class A | +0.2% | -8.22% | Trim |
| 23 | SMH | Vaneck Semiconductor ETF | +0.2% | NEW | New buy |
| 24 | WGO | Winnebago Industries | +0.2% | -0.92% | Trim |
| 25 | TTEK | Tetra Tech Inc | +0.1% | -3.71% | Trim |
| 26 | BBIO | Bridgebio Pharma Inc | +0.1% | — | Unchanged |
| 27 | PCG 6 12-01-27 ABond | Pg&e CORP | +0.1% | — | Unchanged |
| 28 | ITRI | Itron Inc | +0.1% | — | Unchanged |
| 29 | FE | Firstenergy CORP | +0.1% | -5.35% | Trim |
| 30 | ON | On Semiconductor | +0.1% | -42.98% | Trim |
| 31 | JAZZ | Jazz Pharmaceuticals plc | +0.1% | -20.94% | Trim |
| 32 | TLT | Ishares 20+ Year Treasury Bd | +0.1% | NEW | New buy |
| 33 | NEE 7.299 06-01-27Bond | Nextera Energy Inc | 0% | — | Unchanged |
| 34 | EVRG 4.5 12-15-27Bond | Evergy Inc | 0% | -21.00% | Trim |
| 35 | UPST | Upstart Holdings Inc | 0% | +61.19% | Add |
| 36 | NEE 7.234 11-01-27Bond | Nextera Energy Inc | 0% | — | Unchanged |
| 37 | KKR | Kkr & Co Inc | — | -50.00% | Trim |
| 38 | OWL | Blue Owl Capital Inc | — | -50.00% | Trim |
| 39 | XRX | Xerox Holdings CORP | — | — | Unchanged |
| 40 | ZTO | Zto Express Cayman Inc-adr | 0% | -10.60% | Trim |
| 41 | APO | Apollo Global Management Inc | 0% | -50.00% | Trim |
| 42 | BX | Blackstone Inc | 0% | -50.00% | Trim |
| 43 | TPG | Tpg Inc | 0% | -50.00% | Trim |
| 44 | HLNE | Hamilton Lane Inc-class A | 0% | EXIT | Sold out |
| 45 | SOFI | Sofi Technologies Inc | 0% | EXIT | Sold out |
| 46 | CG | Carlyle Group Inc/the | 0% | -50.00% | Trim |
| 47 | VOYG | Voyager Technologies Inc-a | 0% | EXIT | Sold out |
| 48 | BL | Blackline Inc | -0.1% | -0.09% | Trim |
| 49 | STWD | Starwood Property Trust Inc | -0.1% | -19.11% | Trim |
| 50 | ALB 7.25 03-01-27Bond | Albemarle CORP | -0.1% | — | Unchanged |
1–50 of 86
Filing History
FAQ
What is Portman Square Capital LLP and what type of investor is it?
Portman Square Capital LLP 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.1B, spread across 94 disclosed positions.
What are Portman Square Capital LLP's largest equity positions?
Based on the latest 13F filing, Portman Square Capital LLP's top holdings by market value are:
1. IREN Limited (IREN) — $187.3M (8.9%)
2. Spdr Gold Shares (GLD) — $184.9M (8.8%)
3. Alibaba Group Holding-sp Adr (BABA) — $180.1M (8.5%)
4. Nextera Energy Inc (NEE) — $145.0M (6.9%)
5. Reddit Inc-cl A (RDDT) — $126.0M (6.0%)
What changes did Portman Square Capital LLP make in its most recent portfolio filing?
In the latest reported quarter, Portman Square Capital LLP made 78 notable position adjustments: 9 new positions were initiated, 8 existing holdings were added to, 46 positions were partially reduced, and 15 were completely exited. The largest of these moves: Sold out: Nebius Group N.V. (NBIS); Sold out: Boeing Co/the (BA); Sold out: Coreweave Inc-cl A (CRWV); Sold out: Ugi CORP (UGI); New buy:
What sectors does Portman Square Capital LLP focus on?
Portman Square Capital LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Utilities: 35.2%
• Information Technology: 20.8%
• Consumer Discretionary: 17.9%
• Communication Services: 8.2%
• Materials: 5.2%
• Industrials: 4.8%
Investment Profile
Portman Square Capital LLP returned an annualized 14.2% over the trailing 36 months — underperforming the S&P 500 by 5.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.02 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 35.2% of the portfolio concentrated in Utilities.
It has added to its W position over the past two quarters (+$87.0M, now $90.5M), while trimming KKR over the same stretch (-$93.4M, still holding $321.2K).
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Developer Access
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