In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Pertento Partners LLP reported 19 stock positions worth $837.4 million . Its top holding was US Foods (USFD) at 11.0% of the portfolio, followed by Primo Brands (PRMB, 10.8% ) and Silicon Motion Technol-ADR (SIMO, 7.3% ). Compared with Q4 2024, it opened 1 new position, sold out of 6, added to 7 and reduced 6. The biggest buy was a new position in Netgear (NTGR) and the biggest sale an exit from Sharkninja (SN).
Location LONDON, X0
CIK 0001894571
Portfolio Value $837.4M (Q1 2025) Holdings 19 stocks · $837.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 USFD US Foods Holding Corp. 1,401,329 $91.7M Reduce -2.1% PRMB Primo Brands Corp. 2,554,719 $90.7M Add +11.8% SIMO Silicon Motion Technol-ADR 1,209,463 $61.2M Add +3.6% SLM SLM Corp. 2,058,429 $60.5M Add +17.2% UHAL.B U-Haul Holding Co.-Non Voting 982,425 $58.1M Add +32.8% MDU Mdu Resources Group Inc. 3,155,743 $53.4M Add +5.5% CLBT Cellebrite Di Ltd. 2,635,653 $51.2M Reduce -11.4% FLUT Flutter Entertainment PLC-Di 217,771 $48.2M No change ICLR Icon PLC 239,048 $41.8M No change IBP Installed Building Products 228,774 $39.2M Reduce -1.9% NTGR Netgear Inc. 1,595,652 $39.0M New CRAI Cra International Inc. 225,034 $39.0M Reduce -18.4% PAX Patria Investments Ltd. Class A 3,308,626 $37.4M No change ROIV Roivant Sciences Ltd. 3,624,613 $36.6M Add +4.0% NBBK NB Bancorp Inc. 1,978,903 $35.8M No change ACMR Acm Research Inc. Class A 1,024,632 $23.9M Reduce -13.5% CENX Century Aluminum Company 733,885 $13.6M Add +74.2% APLD Applied Digital Corp. 2,235,113 $12.6M Reduce -11.6% INDA iShares MSCI India ETF 69,498 $3.6M No change
Options reported separately and not counted above: EWJ puts ($68.6M), ASML puts ($49.4M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ SN Sharkninja Inc. Sold out 0.00% −5.84 HEES H&E Equipment Services Inc. Sold out 0.00% −5.19 BEKE Ke Holdings Inc.-ADR Sold out 0.00% −3.10 HHH Howard Hughes Holdings Inc. Sold out 0.00% −1.26 CORZ Core Scientific Inc. Sold out 0.00% −0.75 NBIS Nebius Group NV Sold out 0.00% −0.75 CRAI Cra International Inc. Reduce -18.4% 4.65% −0.65 CLBT Cellebrite Di Ltd. Reduce -11.4% 6.12% −0.63 APLD Applied Digital Corp. Reduce -11.6% 1.50% −0.49 IBP Installed Building Products Reduce -1.9% 4.68% +0.48 ACMR Acm Research Inc. Class A Reduce -13.5% 2.86% +1.02 USFD US Foods Holding Corp. Reduce -2.1% 10.95% +1.02
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ NTGR Netgear Inc. New 4.66% +4.66 PRMB Primo Brands Corp. Add +11.8% 10.83% +3.60 SLM SLM Corp. Add +17.2% 7.22% +2.24 UHAL.B U-Haul Holding Co.-Non Voting Add +32.8% 6.94% +2.07 CENX Century Aluminum Company Add +74.2% 1.63% +0.84 MDU Mdu Resources Group Inc. Add +5.5% 6.37% +0.83 SIMO Silicon Motion Technol-ADR Add +3.6% 7.30% +0.82 ROIV Roivant Sciences Ltd. Add +4.0% 4.37% +0.13
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ LMT Lockheed Martin Corp. put Sold out 182,600 $88.7Mbefore exit EWJ iShares MSCI Japan ETF put New 1,000,000 $68.6M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 100,000 $58.6Mbefore exit ASML ASML Holding NV-NY Reg SHS put New 74,500 $49.4M SNOW Snowflake Inc. put Sold out 255,500 $39.5Mbefore exit BJRI Bj's Restaurants Inc. call Sold out 647,500 $22.7Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 14 $1.4B USFD, PRMB, IESC, PSMT, CLBT Q1 2026 15 $942.4M USFD, IESC, PRMB, CLBT, PSMT Q4 2025 17 $910.3M USFD, CLBT, SIMO, IESC, PRMB Q3 2025 15 $821.0M SIMO, USFD, CLBT, IESC, PRMB Q2 2025 18 $885.7M USFD, SIMO, PRMB, FLUT, UHAL.B Q1 2025 19 $837.4M USFD, PRMB, SIMO, SLM, UHAL.B Q4 2024 24 $972.3M USFD, PRMB, CLBT, SIMO, SN Q3 2024 21 $818.3M GEN, USFD, CRAI, SIMO, SN Q2 2024 Amended 21 $784.1M SN, GEN, SIMO, USFD, CRAI Q1 2024 Amended 19 $495.7M SN, GEN, SIMO, CRAI, USFD