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Livermore
Livermore
ZHEN

Portman Square Capital LLP

SEC CIK
0001966898
Latest filing
Jul 15, 2026

The latest 13F from Portman Square Capital LLP covers Q2 2026 (filed Jul 15, 2026): 39 long positions worth $587.0M. The top 10 holdings make up 68.4% of the portfolio, and the largest is Alibaba Group Holding Ltd (BABA) at 11.4%. Livermore has 15 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
8
Est. +$149.6M
Added
7
Est. +$71.5M
Reduced
17
Est. −$223.7M
Sold out
13
Est. −$87.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. BABAAlibaba Group Holding Ltd
    11.4%$66.8MHistory
  2. SOMNSouthern Co
    10.5%$61.8MHistory
  3. RDDTReddit, Inc.
    9.3%$54.5MHistory
  4. WWayfair Inc.
    6.4%$37.8MHistory
  5. PPLCPPL Corp
    6.1%$35.7MHistory

Share of portfolio

Top 5 holdings and the other 34 positions, by share of portfolio value

  1. BABA11.4%
  2. SOMN10.5%
  3. RDDT9.3%
  4. W6.4%
  5. PPLC6.1%
  6. Other 34 positions56.3%

Biggest buys

New and added positions, by estimated amount bought

  1. BABAAlibaba Group Holding Ltd
    +$66.8MNewHistory
  2. RDDTReddit, Inc.
    +$45.0MAddedHistory
  3. Firstenergy Corp337932AV9
    +$27.3MNew
  4. STXSeagate Technology Holdings plc
    +$24.3MNewHistory
  5. AKAMAkamai Technologies Inc
    +$21.1MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. BABAAlibaba Group Holding Ltd
    +11.38 pp0.0% → 11.4%History
  2. RDDTReddit, Inc.
    +8.16 pp1.1% → 9.3%History
  3. Firstenergy Corp337932AV9
    +4.66 pp0.0% → 4.7%
  4. WWayfair Inc.
    +4.36 pp2.1% → 6.4%History
  5. STXSeagate Technology Holdings plc
    +4.14 pp0.0% → 4.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MCHPPMicrochip Technology Inc
    −$55.8MReducedHistory
  2. NOVTUNovanta Inc
    −$51.1MReducedHistory
  3. PPLCPPL Corp
    −$39.1MReducedHistory
  4. BA.PABoeing Co
    −$23.0MSold outHistory
  5. HPE.PCHewlett Packard Enterprise Co
    −$21.6MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. PPLCPPL Corp
    −5.84 pp11.9% → 6.1%History
  2. NOVTUNovanta Inc
    −5.39 pp7.8% → 2.4%History
  3. MCHPPMicrochip Technology Inc
    −4.37 pp10.3% → 5.9%History
  4. BA.PABoeing Co
    −3.51 pp3.5% → 0.0%History
  5. Guardant Health, Inc.40131MAD1
    −2.56 pp2.6% → 0.0%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$587.0M
−$69.6M (−10.6%) vs. prior quarter
Positions
39
−5 vs. prior quarter
Top 10 concentration
68.4%
Top 10 as share of value
Turnover
35.6%
Q2 2026, one quarter
Average holding period
3.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2022), so positions held before then are understated.

13F filings by quarter

15 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $928.5M (Q2 2025)

Q4 2022: $204.2MQ1 2023: $397.7MQ2 2023: $569.0MQ3 2023: $726.4MQ4 2023: $576.9MQ1 2024: $439.9MQ2 2024: $297.3MQ3 2024: $302.0MQ4 2024: $519.6MQ1 2025: $724.6MQ2 2025: $928.5MQ3 2025: $754.5MQ4 2025: $576.0MQ1 2026: $656.6MQ2 2026: $587.0M
Q4 2022Q2 2026
13F filings of Portman Square Capital LLP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 15, 202639$587.0MBABASOMNRDDTvs. Q1 2026SEC
Q1 2026Apr 27, 202644$656.6MPPLCSOMNMCHPPvs. Q4 2025SEC
Q4 2025Jan 23, 202640$576.0MSOMNAlibaba Group Hldg LtdUgi Corpvs. Q3 2025SEC
Q3 2025Oct 16, 202530$754.5MKKR.PDHPE.PCNEE.PTvs. Q2 2025SEC
Q2 2025Jul 29, 202544$928.5MKKR.PDBA.PAAlibaba Group Hldg Ltdvs. Q1 2025SEC
Q1 2025May 2, 202556$724.6MKKR.PDSeagate HDD CaymanNEE.PTvs. Q4 2024SEC
Q4 2024Jan 16, 202560$519.6MBA.PANEE.PTSeagate HDD Caymanvs. Q3 2024SEC
Q3 2024Oct 16, 202480$302.0MSeagate HDD CaymanHPE.PCPeabody Engr Corpvs. Q2 2024SEC
Q2 2024Jul 19, 202493$297.3MPeabody Engr CorpAmerican Airls Group IncWayfair Inc.vs. Q1 2024SEC
Q1 2024Apr 15, 202490$439.9MPalo Alto Networks IncPeabody Engr CorpAmerican Airls Group Incvs. Q4 2023SEC
Q4 2023Jan 19, 2024125$576.9MPalo Alto Networks IncPeabody Engr CorpAmerican Airls Group Incvs. Q3 2023SEC
Q3 2023Oct 30, 2023150$726.4MPalo Alto Networks IncPeabody Engr CorpAmerican Airls Group Incvs. Q2 2023SEC
Q2 2023Jul 26, 2023140$569.0MPalo Alto Networks IncAmerican Airls Group IncMIDDvs. Q1 2023SEC
Q1 2023May 4, 2023112$397.7MPalo Alto Networks IncMIDDAmerican Airls Group Incvs. Q4 2022SEC
Q4 2022Feb 23, 2023109$204.2MPODDAmerican Airls Group IncMIDD–SEC