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Trinity Street Asset Management LLP 13F Portfolio & Top Holdings (Q3 2026)
Trinity Street Asset Management LLPCIK: 0001592579
Momentum followerQuality / disciplined sizingLong-term holder
Total reported value
$1.9B
Reporting period: 2026-09-30 · Number of holdings: 24
Trinity Street Asset Management LLP disclosed 24 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $1.9B and a quarterly turnover rate of 13.5%.
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Personality snowflake
- Concentration
- 43.61
- Portfolio Stability
- 13.47
- Momentum
- 100
- Sector conviction
- 65.71
- Diversification
- 48
- Sizing Uniformity
- 87.01
Trinity Street Asset Management LLP's disclosed holdings carry a Herfindahl concentration index of 0.109 — mathematically equivalent to about 9 equally-sized positions, well below its 24 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 1.30), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim TSM
-8.1% -$54.2M
New buy IBKR
Add SW
+11.9% $16.2M
New buy QCOM
Trim RYAAY
+4.6% -$25.7M
Trim HDB
+0.1% -$22.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 20.89% | -2.00% | -8.09% | |
| 2 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 13.90% | +1.37% | +11.89% | |
| 3 | ICLR | ICON Public Limited Company | Stock-Healthcare | 13.54% | -0.20% | -3.13% | |
| 4 | RYAAY | Ryanair Holdings Plc-sp Adr | Stock-Industrials | 10.99% | -0.91% | +4.59% | |
| 5 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 7.77% | -0.87% | +0.11% | |
| 6 | INFY | Infosys Ltd-sp Adr | Stock-Tech | 7.36% | +0.29% | -2.27% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.52% | -0.04% | -1.84% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 2.42% | +0.69% | -1.84% | |
| 9 | CNH | CNH Industrial N.V. | Stock-Industrials | 1.94% | +0.39% | +5.45% | |
| 10 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.92% | +0.12% | -1.84% | |
| 11 | NUE | Nucor CORP | Stock-Materials | 1.82% | +0.12% | -1.84% | |
| 12 | IBKR | Interactive Brokers Gro-cl A | Stock-Financials | 1.60% | +1.60% | NEW | |
| 13 | CLH | Clean Harbors Inc | Stock-Industrials | 1.54% | +0.03% | -5.20% | |
| 14 | COHR | Coherent CORP | Stock-Tech | 1.42% | -0.26% | +12.00% | |
| 15 | AMD | Advanced Micro Devices | Stock-Tech | 1.41% | -0.05% | -11.50% | |
| 16 | UBER | Uber Technologies Inc | Stock-Industrials | 1.38% | +0.18% | +16.33% | |
| 17 | EFX | Equifax Inc | Stock-Industrials | 1.23% | +0.04% | +15.06% | |
| 18 | NOC | Northrop Grumman CORP | Stock-Industrials | 1.10% | -0.03% | -1.82% | |
| 19 | QCOM | Qualcomm Inc | Stock-Tech | 1.08% | +1.08% | NEW | |
| 20 | DHI | Dr Horton Inc | Stock-Consumer Disc | 1.08% | -0.18% | -1.83% | |
| 21 | SARO | Standardaero Inc | Stock-Other | 1.06% | -0.40% | -1.88% | |
| 22 | CI | THE Cigna Group | Stock-Healthcare | 1.01% | — | -1.83% | |
| 23 | KB | Kb Financial Group Inc-adr | Stock-Financials | 0.95% | +0.16% | -1.49% | |
| 24 | CTSH | Cognizant Tech Solutions-a | Stock-Tech | 0.05% | -0.57% | -95.18% |
Portfolio Performance
Performance for Q4 2026
-0.7%
Performance Last 4 Quarters
-0.1%
- Stdev
- +16.1%
- Beta
- +1.05
- Alpha
- -5.2%
- Max Drawdown
- -14.2%
- Annualized Perf
- +18.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.12
- Stutzer
- +0.34
- Treynor
- +0.18
- Sterling
- +0.96
- Calmar
- +1.32
- Information Ratio
- -0.41
- Tracking Error
- +9.7%
- Stdev Down
- +8.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +37.4%
- Worst 12 Months
- -6.3%
- Efficiency Ratio
- +0.49
- Sharpe
- +1.16
- Stdev Sectors
- +10.4%
- Skewness
- -0.17
- Kurtosis
- -0.13
- Upside Potential
- +3.69
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 24 | $1.9B | 13 | ||
| 2026 Q2 | 23 | $1.9B | 43 | ||
| 2026 Q1 | 22 | $1.5B | 19 | ||
| 2025 Q4 | 22 | $1.6B | 14 | ||
| 2025 Q3 | 21 | $1.5B | 40 | ||
| 2025 Q2 | 20 | $1.5B | 0 | ||
| 2025 Q1 | 16 | $988.0M | 100 | ||
| 2024 Q4 | 14 | $1.0B | 0 | ||
| 2024 Q3 | 15 | $1.0B | 0 | ||
| 2024 Q2 | 16 | $1.1B | 0 | ||
| 2024 Q1 | 18 | $1.3B | 0 | ||
| 2023 Q4 | 17 | $898.8M | 0 | ||
| 2023 Q3 | 22 | $778.3M | 0 | ||
| 2023 Q2 | 22 | $901.9M | 0 | ||
| 2023 Q1 | 21 | $892.9M | 0 | ||
| 2022 Q4 | 19 | $617.3M | 0 | ||
| 2022 Q3 | 19 | $495.0M | 0 | ||
| 2022 Q2 | 19 | $554.8M | 0 | ||
| 2022 Q1 | 21 | $619.3M | 0 | ||
| 2021 Q4 | 20 | $910.0M | 0 | ||
| 2021 Q3 | 19 | $815.5M | 0 | ||
| 2021 Q2 | 20 | $723.7M | 100 | ||
| 2021 Q1 | 20 | $741.9M | 53 | ||
| 2020 Q4 | 22 | $1.1B | 56 | ||
| 2020 Q3 | 21 | $822.4M | 25 | ||
| 2020 Q2 | 19 | $675.2M | 44 | ||
| 2020 Q1 | 18 | $583.8M | 52 | ||
| 2019 Q4 | 18 | $737.5M | 35 | ||
| 2019 Q3 | 18 | $644.5M | 28 | ||
| 2019 Q2 | 15 | $514.4M | 31 | ||
| 2019 Q1 | 13 | $495.8M | 28 | ||
| 2018 Q4 | 13 | $415.1M | 24 | ||
| 2018 Q3 | 15 | $528.6M | 29 | ||
| 2018 Q2 | 17 | $586.7M | 34 | ||
| 2018 Q1 | 15 | $535.3M | 45 | ||
| 2017 Q4 | 18 | $763.3M | 19 | ||
| 2017 Q3 | 17 | $780.8M | 28 | ||
| 2017 Q2 | 14 | $650.7M | 24 | ||
| 2017 Q1 | 14 | $606.6M | 25 | ||
| 2016 Q4 | 15 | $642.9M | 22 | ||
| 2016 Q3 | 16 | $575.4M | 36 | ||
| 2016 Q2 | 13 | $430.4M | 35 | ||
| 2016 Q1 | 13 | $483.2M | 26 | ||
| 2015 Q4 | 11 | $556.4M | 66 | ||
| 2015 Q3 | 11 | $366.3M | 39 | ||
| 2015 Q2 | 12 | $538.3M | 53 | ||
| 2015 Q1 | 13 | $430.8M | 62 | ||
| 2014 Q4 | 14 | $439.7M | 18 | ||
| 2014 Q3 | 15 | $416.0M | 41 | ||
| 2014 Q2 | 16 | $346.0M | 30 | ||
| 2014 Q1 | 15 | $317.4M | 41 | ||
| 2013 Q4 | 10 | $217.9M | 0 |
Holding changes this quarter
Trinity Street Asset Management LLP's most significant position changes for 2026-09-30: New buy: Interactive Brokers Gro-cl A (IBKR); New buy: Qualcomm Inc (QCOM); Sold out: Intuit Inc (INTU); Trim: Taiwan Semiconductor-sp Adr (TSM) — shares -8.09%; Add: Smurfit Westrock Plc (SW) — shares +11.89%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IBKR | Interactive Brokers Gro-cl A | +1.6% | NEW | New buy |
| 2 | SW | Smurfit Westrock Plc | +1.4% | +11.89% | Add |
| 3 | QCOM | Qualcomm Inc | +1.1% | NEW | New buy |
| 4 | MSFT | Microsoft CORP | +0.7% | -1.84% | Trim |
| 5 | CNH | CNH Industrial N.V. | +0.4% | +5.45% | Add |
| 6 | INFY | Infosys Ltd-sp Adr | +0.3% | -2.27% | Trim |
| 7 | UBER | Uber Technologies Inc | +0.2% | +16.33% | Add |
| 8 | KB | Kb Financial Group Inc-adr | +0.2% | -1.49% | Trim |
| 9 | NUE | Nucor CORP | +0.1% | -1.84% | Trim |
| 10 | AMZN | Amazon.com Inc | +0.1% | -1.84% | Trim |
| 11 | EFX | Equifax Inc | 0% | +15.06% | Add |
| 12 | CLH | Clean Harbors Inc | 0% | -5.20% | Trim |
| 13 | CI | THE Cigna Group | — | -1.83% | Trim |
| 14 | NOC | Northrop Grumman CORP | 0% | -1.82% | Trim |
| 15 | GOOGL | Alphabet Inc-cl A | 0% | -1.84% | Trim |
| 16 | AMD | Advanced Micro Devices | -0.1% | -11.50% | Trim |
| 17 | DHI | Dr Horton Inc | -0.2% | -1.83% | Trim |
| 18 | ICLR | ICON Public Limited Company | -0.2% | -3.13% | Trim |
| 19 | COHR | Coherent CORP | -0.3% | +12.00% | Add |
| 20 | SARO | Standardaero Inc | -0.4% | -1.88% | Trim |
| 21 | CTSH | Cognizant Tech Solutions-a | -0.6% | -95.18% | Trim |
| 22 | INTU | Intuit Inc | -0.6% | EXIT | Sold out |
| 23 | HDB | Hdfc Bank Ltd-adr | -0.9% | +0.11% | Add |
| 24 | RYAAY | Ryanair Holdings Plc-sp Adr | -0.9% | +4.59% | Add |
| 25 | TSM | Taiwan Semiconductor-sp Adr | -2% | -8.09% | Trim |
Filing History
FAQ
What is Trinity Street Asset Management LLP and what type of investor is it?
Trinity Street Asset Management 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 (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $1.9B, spread across 24 disclosed positions.
What are Trinity Street Asset Management LLP's largest equity positions?
Based on the latest 13F filing, Trinity Street Asset Management LLP's top holdings by market value are:
1. Taiwan Semiconductor-sp Adr (TSM) — $390.3M (20.9%)
2. Smurfit Westrock Plc (SW) — $259.6M (13.9%)
3. ICON Public Limited Company (ICLR) — $252.8M (13.5%)
4. Ryanair Holdings Plc-sp Adr (RYAAY) — $205.3M (11.0%)
5. Hdfc Bank Ltd-adr (HDB) — $145.2M (7.8%)
What changes did Trinity Street Asset Management LLP make in its most recent portfolio filing?
In the latest reported quarter, Trinity Street Asset Management LLP made 25 notable position adjustments: 2 new positions were initiated, 7 existing holdings were added to, 15 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Interactive Brokers Gro-cl A (IBKR); New buy: Qualcomm Inc (QCOM); Sold out: Intuit Inc (INTU); Trim: Taiwan Semiconductor-sp Adr (TSM) — shares -8.09%; Add: Smurfit Westrock Plc (SW) — shares +11.89%
What sectors does Trinity Street Asset Management LLP focus on?
Trinity Street Asset Management LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.0%
• Industrials: 18.4%
• Consumer Discretionary: 17.1%
• Health Care: 14.7%
• Financials: 10.4%
• Communication Services: 2.5%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Trinity Street Asset Management LLP returned an annualized 18.8% over the trailing 36 months — underperforming the S&P 500 by 5.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.05 (roughly in line with the market) and a 44% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 35.0% of the portfolio concentrated in Information Technology.
Its turnover score has fallen from 40 to 13 over the past 4 quarters — a shift toward longer holding periods.
It has added to its KB position over the past two quarters (+$11.7M, now $17.8M), while trimming HDB over the same stretch (-$47.0M, still holding $145.2M).
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