Portman Square Capital LLP
Portman Square Capital LLP reported 35 US-listed holdings worth $410.5 million in its 13F for the quarter ended 30 September 2026, filed 15 October 2026. Its largest: Wayfair Inc. (18.6%), Alibaba Group Holding Limited (17.9%) and Reddit, Inc. (16.6%). Against the quarter before, it opened 9 positions, added to 10, trimmed 14 and sold out of 10.
Reported holdings$410.5M-22.1% on Q2 2026
Positions35-1 on Q2 2026
The largest ten79.2%of its reported holdings
Latest 13FQ3 2026filed 15 October 2026
OpenedAdded toHeldTrimmed
The 14 largest of its 35 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +17.8% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Its reported holdingsThe S&P 500
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Opened 9Added 10Held 2Trimmed 14Sold out 10
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 9
- Cloudflare Inc. NET$26.4 million
- MP Materials Corp. MP$14.3 million
- Sofi Technologies Inc. SOFI$12.3 million
- iShares Trust TLT$7.0 million
- Boeing Co. BAPRA$5.9 million
- Fluor Corp. FLR$5.7 million
- Alphabet Inc. GOOGN$4.9 million
- Select Sector SPDR Trust XLP$2.4 million
and 1 more in the table below
Added to 10
- Wayfair Inc. W+336,502 shares · +82%
- Reddit, Inc. RDDT+164,901 shares · +53%
- ON Semiconductor Corp. ON+106,223 shares · +303%
- Albemarle Corp. ALB+32,851 shares · +145%
- Tetra Tech Inc. TTEK+50,949 shares · +45%
- Alnylam Pharmaceuticals Inc ALNY+3,621 shares · +14%
- Upstart Hldgs Inc. UPST+26,190 shares · +138%
- Advanced Energy Industries Inc. AEIS+1,935 shares · +156%
and 2 more in the table below
Trimmed 14
- PPL Corp. PPLC-670,000 shares · -92%
- Albemarle Corp. ALBPRA-500,000 shares · -92%
- NextEra Energy Inc. NEE-286,874 shares · -89%
- Microchip Technology Inc. MCHPP-274,500 shares · -61%
- Nextera Energy Inc. NEEPRV-344,000 shares · -84%
- Akamai Technologies Inc. AKAM-111,635 shares · -63%
- Novanta Inc. NOVTU-140,500 shares · -67%
- SPDR Gold Trust GLD-13,000 shares · -48%
and 6 more in the table below
Sold out of 10
- Southern Co. SOMN$61.8 million last quarter
- Oracle Corp. ORCL$8.5 million last quarter
- Western Digital Corp. WDC$6.7 million last quarter
- Nextera Energy Inc. NEEPRS$5.4 million last quarter
- Hewlett Packard Enterprise C HPEPRC$4.1 million last quarter
- Pg&E Corp. PCG$3.9 million last quarter
- Nextera Energy Inc. NEEPRT$2.6 million last quarter
- ZTO Express (Cayman) Inc. ZTO$1.6 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Wayfair Inc. W | 745.9K | $76.5 million | 18.63% | +336.5K |
| Alibaba Group Holding Limited BABA | 683.6K | $73.5 million | 17.91% | -12.1K |
| Reddit, Inc. RDDT | 478.8K | $68.2 million | 16.61% | +164.9K |
| Cloudflare Inc. NET | 75.9K | $26.4 million | 6.42% | new |
| Seagate Technology Holdings plc STX | 21.1K | $19.4 million | 4.74% | -4.1K |
| MP Materials Corp. MP | 301.5K | $14.3 million | 3.47% | new |
| Sofi Technologies Inc. SOFI | 784.3K | $12.3 million | 3.00% | new |
| Pg&e Corp. PCGPRX | 381.0K | $12.0 million | 2.93% | no change |
| Microchip Technology Inc. MCHPP | 175.5K | $11.7 million | 2.86% | -274.5K |
| ON Semiconductor Corp. ON | 141.3K | $10.9 million | 2.65% | +106.2K |
| Akamai Technologies Inc. AKAM | 66.4K | $7.1 million | 1.72% | -111.6K |
| Alnylam Pharmaceuticals Inc ALNY | 28.6K | $7.1 million | 1.72% | +3.6K |
| iShares Trust TLT | 90.0K | $7.0 million | 1.71% | new |
| Boeing Co. BAPRA | 100.0K | $5.9 million | 1.44% | new |
| Albemarle Corp. ALB | 55.5K | $5.9 million | 1.43% | +32.9K |
| Fluor Corp. FLR | 119.5K | $5.7 million | 1.39% | new |
| Southern Co. SO | 66.7K | $5.5 million | 1.35% | +4.9K |
| Tetra Tech Inc. TTEK | 164.4K | $5.4 million | 1.32% | +50.9K |
| SPDR Gold Trust GLD | 14.0K | $5.3 million | 1.30% | -13.0K |
| Alphabet Inc. GOOGN | 100.0K | $4.9 million | 1.19% | new |
| Novanta Inc. NOVTU | 69.5K | $4.2 million | 1.02% | -140.5K |
| Nextera Energy Inc. NEEPRV | 66.0K | $2.8 million | 0.69% | -344.0K |
| NextEra Energy Inc. NEE | 35.9K | $2.7 million | 0.66% | -286.9K |
| PPL Corp. PPLC | 60.0K | $2.7 million | 0.66% | -670.0K |
| KraneShares Trust KWEB | 100.0K | $2.5 million | 0.60% | -75.0K |
| Select Sector SPDR Trust XLP | 30.0K | $2.4 million | 0.59% | new |
| Albemarle Corp. ALBPRA | 41.0K | $1.9 million | 0.45% | -500.0K |
| Ares Management Corporation | 40.2K | $1.5 million | 0.38% | -99.8K |
| Upstart Hldgs Inc. UPST | 45.2K | $1.0 million | 0.25% | +26.2K |
| iShares Trust FXI | 30.0K | $1.0 million | 0.25% | no change |
| Advanced Energy Industries Inc. AEIS | 3.2K | $894,779 | 0.22% | +1.9K |
| Itron, Inc. ITRI | 9.8K | $847,254 | 0.21% | new |
| Hewlett Packard Enterprise Co. HPE | 8.7K | $557,312 | 0.14% | +2.0K |
| PPL Corp. PPL | 9.9K | $325,907 | 0.08% | -47.1K |
| Lucid Group Inc. Com New LCID | 16.3K | $66,146 | 0.02% | -208.8K |
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
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Change is shares against its 13F for the quarter before; the 10 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| Iris Energy Ltd IREN | Puts | 4.8M | $195.1 million |
| Alibaba Group Holding Limited BABA | Puts | 1.6M | $168.4 million |
| Semtech Corp. SMTC | Puts | 756.4K | $134.9 million |
| Wayfair Inc. W | Puts | 988.4K | $101.4 million |
| Reddit, Inc. RDDT | Puts | 619.3K | $88.2 million |
| SPDR Gold Trust GLD | Calls | 120.0K | $45.7 million |
| Akamai Technologies Inc. AKAM | Puts | 380.6K | $40.5 million |
| Cloudflare Inc. NET | Puts | 113.1K | $39.3 million |
| Albemarle Corp. ALB | Puts | 367.8K | $38.9 million |
| Live Nation Entertainment, Inc. LYV | Puts | 213.0K | $36.1 million |
| Microchip Technology Inc. MCHP | Puts | 316.5K | $24.6 million |
| Pg&E Corp. PCG | Puts | 1.9M | $23.4 million |
| Boeing Co. BA | Puts | 125.2K | $23.3 million |
| ON Semiconductor Corp. ON | Puts | 298.5K | $22.9 million |
| Global Payments Inc. GPN | Puts | 270.0K | $22.1 million |
| Alphabet Inc. GOOG | Puts | 57.0K | $19.4 million |
| Tetra Tech Inc. TTEK | Puts | 582.7K | $19.2 million |
| Firstenergy Corp. FE | Puts | 407.1K | $17.6 million |
| Guardant Health Inc. GH | Puts | 94.8K | $16.9 million |
| Fluor Corp. FLR | Puts | 339.4K | $16.3 million |
| Itron, Inc. ITRI | Puts | 179.7K | $15.5 million |
| NextEra Energy Inc. NEE | Puts | 196.4K | $14.9 million |
| Alnylam Pharmaceuticals Inc ALNY | Puts | 59.7K | $14.7 million |
| Southern Co. SO | Puts | 167.1K | $13.9 million |
| Winnebago Industries Inc. WGO | Calls | 451.0K | $11.9 million |
| Enovis Corp. ENOV | Calls | 553.0K | $10.1 million |
| Compass Inc. COMP | Puts | 1.1M | $9.8 million |
| United STS Oil FD LP USO | Puts | 66.2K | $9.6 million |
| Tyler Technologies Inc. TYL | Puts | 29.8K | $9.5 million |
| Rivian Automotive Inc. RIVN | Puts | 630.0K | $9.4 million |
| Coreweave Inc. CRWV | Puts | 90.0K | $7.8 million |
| Realty Income Corp. O | Puts | 142.2K | $7.7 million |
| KraneShares Trust KWEB | Calls | 299.5K | $7.3 million |
| Sofi Technologies Inc. SOFI | Puts | 457.6K | $7.2 million |
| Spectrum Brands Hldgs Inc. Ne SPB | Puts | 90.1K | $7.2 million |
| Blackline, Inc. BL | Puts | 268.1K | $7.1 million |
| iShares Trust FXI | Calls | 187.2K | $6.4 million |
| iShares Trust TLT | Puts | 75.0K | $5.8 million |
| MP Materials Corp. MP | Puts | 123.1K | $5.8 million |
| Synaptics Inc. SYNA | Puts | 56.2K | $5.7 million |
| ZTO Express (Cayman) Inc. ZTO | Puts | 280.1K | $5.4 million |
| Lucid Group Inc. Com New LCID | Puts | 1.2M | $5.1 million |
| iShares Inc. EWY | Calls | 25.0K | $4.6 million |
| PPL Corp. PPL | Puts | 84.4K | $2.8 million |
| Global Payments Inc. GPN | Calls | 29.7K | $2.4 million |
| Evergy, Inc. EVRG | Puts | 30.3K | $2.4 million |
| Hewlett Packard Enterprise Co. HPE | Puts | 28.5K | $1.8 million |
| Novanta Inc. NOVT | Puts | 9.6K | $1.4 million |
| Ares Management Corp. ARES | Puts | 5.0K | $580,850 |
49 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.