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Portman Square Capital LLP

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13F filer, CIK 1966898, London, United Kingdom

Portman Square Capital LLP reported $2,261,302,841 across 117 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-23. Its ten largest share positions make up 74.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-000284

Period
2025-12-31
Reported value
$2.26B
Holdings
117
Top 10 weight
74.5%
New
30
Sold out
20

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SOnew+1,786,000$88.9M
ALBEMARLE CORPadded+591,000$34.8M
NEEnew+390,794$31.4M
NOVTUnew+410,000$22.3M
KKRnew+123,579$15.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
KKR & CO INCreduced-2,550,000-$132M
NEEreduced-2,000,000-$97.2M
BAPRAreduced-1,200,000-$83.4M
HEWLETT PACKARD ENTERPRISE Creduced-1,230,000-$81.4M
NEEreduced-1,000,000-$51.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001172661-26-000284, largest first. % of portfolio is the value over $575,977,119, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SOSOUTHERN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,786,000 shares 1,786,000$88.9M15.44%newTimeline
ALBEMARLE CORPALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 350,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 691,000 shares 691,000$40.7M7.07%+591,000
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 390,794 shares 390,794$31.4M5.45%newTimeline
ARES MANAGEMENT CORPORATIONARES MANAGEMENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,050,000 shares; 2025Q2: 1,050,000 shares; 2025Q3: 1,050,000 shares; 2025Q4: 500,000 shares 500,000$25.3M4.39%-550,000
NOVTUNOVANTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 410,000 shares 410,000$22.3M3.88%newTimeline
KKRKKR & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 123,579 shares 123,579$15.8M2.74%newTimeline
PG&E CORPPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,201,000 shares; 2025Q4: 381,000 shares 381,000$15.6M2.72%-820,000
HEWLETT PACKARD ENTERPRISE CHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 840,000 shares; 2024Q4: not reported; 2025Q1: 950,000 shares; 2025Q2: 1,450,000 shares; 2025Q3: 1,450,000 shares; 2025Q4: 220,000 shares 220,000$14.6M2.53%-1,230,000
SHIFT4 PMTS INCSHIFT4 PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 155,000 shares; 2025Q3: 155,000 shares; 2025Q4: 155,000 shares 155,000$12.4M2.15%0
ALBALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 18,281 shares; 2025Q4: 62,157 shares 62,157$8.79M1.53%+43,876Timeline
MCHPPMICROCHIP TECHNOLOGY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 125,000 shares; 2025Q3: 125,000 shares; 2025Q4: 125,000 shares 125,000$7.32M1.27%0Timeline
BAPRABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,252,000 shares; 2025Q1: 952,000 shares; 2025Q2: 1,802,000 shares; 2025Q3: 1,302,000 shares; 2025Q4: 102,000 shares 102,000$7.09M1.23%-1,200,000Timeline
TTEKTETRA TECH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 21,320 shares; 2025Q1: 16,934 shares; 2025Q2: 15,969 shares; 2025Q3: 102,325 shares; 2025Q4: 202,824 shares 202,824$6.8M1.18%+100,499Timeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 24,276 shares 24,276$5.27M0.92%newTimeline
KKR & CO INCKKR & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,900,000 shares; 2025Q2: 2,650,000 shares; 2025Q3: 2,650,000 shares; 2025Q4: 100,000 shares 100,000$5.19M0.9%-2,550,000
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 1,100,000 shares; 2025Q3: 1,100,000 shares; 2025Q4: 100,000 shares 100,000$5.17M0.9%-1,000,000Timeline
HPEHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 211,405 shares 211,405$5.08M0.88%newTimeline
LCIDLUCID GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 157,056 shares; 2025Q4: 463,997 shares 463,997$4.9M0.85%+306,941Timeline
SOSOUTHERN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 47,629 shares 47,629$4.15M0.72%newTimeline
FLRFLUOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,581 shares; 2024Q4: not reported; 2025Q1: 58,391 shares; 2025Q2: not reported; 2025Q3: 31,334 shares; 2025Q4: 88,344 shares 88,344$3.5M0.61%+57,010Timeline
BLBLACKLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,176 shares; 2025Q3: 66,357 shares; 2025Q4: 59,630 shares 59,630$3.3M0.57%-6,727Timeline
WWAYFAIR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,057 shares; 2024Q4: 170,148 shares; 2025Q1: 311,213 shares; 2025Q2: 184,793 shares; 2025Q3: 62,056 shares; 2025Q4: 28,422 shares 28,422$2.85M0.5%-33,634Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,800,000 shares; 2025Q1: 2,051,000 shares; 2025Q2: 2,051,000 shares; 2025Q3: 2,051,000 shares; 2025Q4: 51,000 shares 51,000$2.48M0.43%-2,000,000Timeline
PCGPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,206 shares; 2024Q4: 37,572 shares; 2025Q1: not reported; 2025Q2: 52,020 shares; 2025Q3: not reported; 2025Q4: 137,396 shares 137,396$2.21M0.38%newTimeline
ONON SEMICONDUCTOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,703 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,866 shares; 2025Q4: 33,525 shares 33,525$1.82M0.32%+15,659Timeline
MCHPMICROCHIP TECHNOLOGY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 26,400 shares 26,400$1.68M0.29%newTimeline
NETCLOUDFLARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,122 shares; 2025Q2: 9,095 shares; 2025Q3: 5,090 shares; 2025Q4: 7,698 shares 7,698$1.52M0.26%+2,608Timeline
SYNASYNAPTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 9,404 shares; 2025Q2: not reported; 2025Q3: 28,432 shares; 2025Q4: 16,417 shares 16,417$1.22M0.21%-12,015Timeline
ALNYALNYLAM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,513 shares; 2024Q4: 12,939 shares; 2025Q1: 12,529 shares; 2025Q2: 6,967 shares; 2025Q3: not reported; 2025Q4: 2,457 shares 2,457$977K0.17%newTimeline
VOYGVOYAGER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,700 shares 28,700$750K0.13%newTimeline
COINCOINBASE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,200 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,880 shares 2,880$651K0.11%newTimeline
WECWEC ENERGY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,054 shares 4,054$428K0.07%newTimeline
UPSTUPSTART HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 7,106 shares; 2025Q2: 4,213 shares; 2025Q3: 9,100 shares; 2025Q4: 9,100 shares 9,100$398K0.07%0Timeline
XRXXEROX HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,581 shares; 2025Q3: 16,807 shares; 2025Q4: 16,807 shares 16,807$39.8K0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
NEENEXTERA ENERGY INC COMput2,196,100$176M+211,000
GLDSPDR GOLD TR GOLD SHScall358,000$142M+145,500
BABOEING CO COMput487,000$106M+72,000
SOSOUTHERN CO COMput957,000$83.5Mnew
ALBALBEMARLE CORP COMput553,500$78.3M+297,500
KKRKKR & CO INC COMput611,800$78M-333,900
HPEHEWLETT PACKARD ENTERPRISE C Stockput2,834,700$68.1M+1,169,300
PCGPG&E CORP Stockput4,004,000$64.3M+1,807,800
ARESARES MANAGEMENT CORPORATION Stockput395,500$63.9M+60,500
NBISNEBIUS GROUP N.V. SHS CLASS Aput647,100$54.2Mnew
UGIUGI CORP NEW Stockput1,355,500$50.7M-309,000
BABAALIBABA GROUP HLDG LTD SPONSORED ADSput282,900$41.5Mnew
XLESELECT SECTOR SPDR TR SHScall800,000$35.8Mnew
MCHPMICROCHIP TECHNOLOGY INC. Stockput554,400$35.3M+139,400
GMEGAMESTOP CORP CL Aput1,664,200$33.4Mnew
AKAMAKAMAI TECHNOLOGIES INC Stockput380,000$33.2M0
HYGISHARES TR IBOXX HI YD ETFput400,000$32.3M-400,000
FEFIRSTENERGY CORP COMput673,200$30.1M-257,500
GPNGLOBAL PMTS INC COMput373,800$28.9M-384,400
LYVLIVE NATION ENTERTAINMENT IN Stockput197,000$28.1M+50,000
COINCOINBASE GLOBAL INC Stockput100,000$22.6Mnew
STWDSTARWOOD PPTY TR INC REITput1,190,400$21.4M+47,100
KWEBKRANESHARES TRUST CSI CHI INTERNETcall600,000$20.4Mnew
TTEKTETRA TECH INC NEW COMput604,800$20.3M+57,600
BLBLACKLINE INC COMput346,600$19.2M-4,100
ITRIITRON INC Stockput194,300$18M+19,000
FLRFLUOR CORP COMput405,700$16.1M-56,700
ONON SEMICONDUCTOR CORP Stockput268,400$14.5M-13,900
BBIOBRIDGEBIO PHARMA INC COMput185,900$14.2M-20,000
ENOVENOVIS CORPORATION COMcall498,300$13.3M+121,400
WECWEC ENERGY GROUP INC Stockput116,100$12.2M-25,300
WGOWINNEBAGO INDS INC COMcall300,000$12.2M0
AEISADVANCED ENERGY INDS Stockput56,200$11.8M-97,500
NOVTNOVANTA INC COMput98,300$11.7Mnew
ALNYALNYLAM PHARMACEUTICALS INC Stockput29,000$11.5M+4,000
SYNASYNAPTICS INC Stockput133,000$9.84M-37,900
CMSCMS ENERGY CORP Stockput138,600$9.69M-200
NETCLOUDFLARE INC Stockput48,800$9.62M+6,900
EVRGEVERGY INC Stockput130,000$9.42Mnew
GUESS? INCGUESS? INC Stockput500,000$8.38M0
PCGPG&E CORP Stockcall500,000$8.04Mnew
SPBSPECTRUM BRANDS HOLDINGS INC Stockcall122,700$7.25M-225,300
MELIMERCADOLIBRE INC STOKput3,200$6.45M0
BKNGBOOKING HOLDINGS INC COMput1,200$6.43M0
FOURSHIFT4 PMTS INC Stockput100,000$6.3M+10,000
OREALTY INCOME CORP REITput110,200$6.21M0
OSISOSI SYSTEMS INC COMput22,000$5.61Mnew
SCHWCHARLES SCHWAB CORP (THE) COMput51,100$5.11M0
LCIDLUCID GROUP INC Stockput480,000$5.07Mnew
HASIHA SUSTAINABLE INFRA CAP INC COMput159,900$5.03M0
SPGIS&P GLOBAL INC COMcall9,600$5.02M0
VLOVALERO ENERGY CORP Stockput29,800$4.85M0
UNPUNION PAC CORP COMput20,900$4.83M0
ADPAUTOMATIC DATA PROCESSING IN COMcall17,100$4.4M0
CFCF INDUSTRIES HOLD Stockput51,700$4M0
EXPEEXPEDIA GROUP INC Stockput13,700$3.88M0
UBERUBER TECHNOLOGIES INC COMput46,000$3.76M0
SPGIS&P GLOBAL INC COMput6,800$3.55M0
CVXCHEVRON CORPORATION COMput21,600$3.29M0
EOGEOG RES INC Stockcall31,300$3.29M0
OREALTY INCOME CORP REITcall52,400$2.95M0
BACBANK OF AMER CORP COMput51,300$2.82M0
ADPAUTOMATIC DATA PROCESSING IN COMput10,900$2.8M0
URIUNITED RENTALS INC Stockput3,200$2.59M0
COPCONOCOPHILLIPS COMcall27,500$2.57M0
WYNNWYNN RESORTS LTD COMput21,000$2.53M0
UNPUNION PAC CORP COMcall10,100$2.34M0
GPNGLOBAL PMTS INC COMcall28,500$2.21Mnew
PSXPHILLIPS 66 Stockput17,000$2.19M0
EOGEOG RES INC Stockput20,400$2.14M0
MTCHMATCH GROUP INC NEW COMput53,800$1.74M0
NFLXNETFLIX INC. COMput17,000$1.59M+15,300
ARANTERO RESOURCES CORP Stockput43,400$1.5M0
ARANTERO RESOURCES CORP Stockcall30,600$1.05M0
MAMASTERCARD INCORPORATED COMcall1,400$799K0
EZPWEZCORP INC CL A NON VTGput34,000$660K-176,600
WWAYFAIR INC CL Aput6,100$613K-1,900

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0principal54,000,000$84Mnew
UGI CORP NEWUGI CORP NEW NOTE 5.000% 6/0principal54,714,000$77.7M-10,000,000
EVERGY INCEVERGY INC NOTE 4.500%12/1principal20,000,000$24.4Mnew
STARWOOD PPTY TR INCSTARWOOD PPTY TR INC NOTE 6.750% 7/1principal18,000,000$18.7M+2,000,000
OSI SYSTEMS INCOSI SYSTEMS INC NOTE 2.250% 8/0principal7,000,000$10.4Mnew
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0principal10,000,000$10.3Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
WDCWESTERN DIGITAL CORP420,800$50.5Mput
RDDTREDDIT INC181,000$41.6Mput
USOUNITED STS OIL FD LP450,000$33.2Mcall
SMCISUPER MICRO COMPUTER INC637,400$30.6Mput
MCHPMICROCHIP TECHNOLOGY INC.440,000$28.3Mcall
GLNGGOLAR LNG LTD368,500$14.9Mput
ONON SEMICONDUCTOR CORP250,000$12.3Mcall
CMS ENERGY CORPCMS ENERGY CORP9,900,000$10.9Mprincipal
IRENIREN LIMITED230,000$10.8Mput
LYFTLYFT INC300,000$6.6Mput
BBIOBRIDGEBIO PHARMA INC117,826$6.12Mshares
BXPBXP INC70,000$5.2Mput
ENOVENOVIS CORPORATION170,400$5.17Mput
ITRIITRON INC30,209$3.76Mshares
GPNGLOBAL PMTS INC32,164$2.67Mshares
INDAISHARES TR22,500$1.17Mshares
XLESELECT SECTOR SPDR TR10,000$893Kshares
MMSIMERIT MED SYS INC7,100$591Kput
PSNPARSONS CORP DEL6,900$572Kput
HASIHA SUSTAINABLE INFRA CAP INC9,045$278Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-26-000284 base2026-01-23acceptance time not in the bulk data set