Portman Square Capital LLP In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 16, 2024), Portman Square Capital LLP reported 74 stock positions worth $127.1 million . Its top holding was Insulet (PODD) at 7.2% of the portfolio, followed by BP PLC-Spons ADR (BP, 5.7% ) and HF Sinclair (DINO, 5.0% ). Compared with Q2 2024, it opened 12 new positions, sold out of 24, added to 31 and reduced 25. The biggest buy was Devon Energy (DVN, shares +306% ) and the biggest sale Akamai Technologies (AKAM, shares −52% ).
Location London, X0
CIK 0001966898
Portfolio Value $127.1M (Q3 2024) Holdings 74 stocks · $127.1M 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 Q2 2024 PODD Insulet Corp. 39,498 $9.2M Reduce -10.5% BP BP PLC-Spons ADR 232,556 $7.3M Add +86.3% DINO HF Sinclair Corp. 141,232 $6.3M Add +141.0% DVN Devon Energy Corp. 158,384 $6.2M Add +306.2% AKAM Akamai Technologies Inc. 60,679 $6.1M Reduce -52.4% W Wayfair Inc. Class A 104,057 $5.8M Add +108.4% WGO Winnebago Industries 74,449 $4.3M Add +3.8% COP Conocophillips 36,454 $3.8M Add +50.4% MUR Murphy Oil Corp. 111,256 $3.8M Add +128.0% EOG EOG Resources Inc. 30,386 $3.7M Add +48.7% MTDR Matador Resources Co. 66,563 $3.3M Add +165.7% LEA Lear Corp. 29,831 $3.3M Add +25.0% FANG Diamondback Energy Inc. 17,513 $3.0M Add +247.5% LYB Lyondellbasell Indu Class A 28,119 $2.7M Add +6.6% RS Reliance Inc. 8,218 $2.4M Add +12.1% ALNY Alnylam Pharmaceuticals Inc. 8,513 $2.3M Reduce -28.1% BG Bunge Global SA 23,984 $2.3M Add +272.4% XLE SS Energy Select Sector 26,000 $2.3M Reduce -43.3% CLF Cleveland-Cliffs Inc. 162,931 $2.1M Add +93.8% MLM Martin Marietta Materials 3,856 $2.1M Add +25.9% KHC The Kraft Heinz Co. 56,463 $2.0M Reduce -38.0% BBIO Bridgebio Pharma Inc. 77,287 $2.0M Add +60.4% CC The Chemours Co. 95,838 $1.9M Add +24.5% FLR Fluor Corp. 38,581 $1.8M Reduce -9.0% MIDD Middleby Corp. 12,977 $1.8M New MAN Manpowergroup Inc. 24,090 $1.8M Reduce -19.0% LYV Live Nation Entertainment Inc. 15,643 $1.7M New BYD Boyd Gaming Corp. 24,898 $1.6M New APA Apa Corp. 62,915 $1.5M Add +110.5% HUM Humana Inc. 4,395 $1.4M Add +100.1% CSX CSX Corp. 40,007 $1.4M Reduce -11.9% HAL Halliburton Co. 46,940 $1.4M Add +119.0% NUE Nucor Corp. 8,887 $1.3M Reduce -18.5% CNMD Conmed Corp. 18,347 $1.3M New EQT Eqt Corp. 35,331 $1.3M Add +25.7% TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 11,656 $1.3M Add +228.4% ADSK Autodesk Inc. 4,528 $1.2M Add +81.8% ON On Semiconductor 13,703 $995K Reduce -29.8% STZ Constellation Brands Inc. Class A 3,797 $978K Add +9.7% SWKS Skyworks Solutions Inc. 9,363 $925K Add +152.0% CMC Commercial Metals Co. 16,421 $902K Add +44.8% ARCB Arcbest Corp. 7,600 $824K Reduce -0.2% CTRA Coterra Energy Inc. 33,387 $800K New TTWO Take-Two Interactive Softwre 5,049 $776K Add +26.7% SEIC Sei Investments Company 10,268 $710K Reduce -49.3% KMX Carmax Inc. 9,140 $707K Reduce -19.8% WYNN WYNN Resorts Ltd. 6,720 $644K Reduce -55.3% CSCO Cisco Systems Inc. 12,084 $643K Reduce -53.3% THO Thor Industries Inc. 5,209 $572K Reduce -57.6% GLW Corning Inc. 11,000 $497K No change VTRS Viatris Inc. 42,705 $496K Reduce -51.1% WOLF Wolfspeed Inc. 49,634 $481K Add +71.7% PCG P G & E Corp. 24,206 $479K Reduce -78.8% MRO Marathon Oil Corp. 17,343 $462K Add +60.8% OKE Oneok Inc. 4,796 $437K Reduce -82.0% ITRI Itron Inc. 4,062 $434K Reduce -73.0% DRI Darden Restaurants Inc. 2,620 $430K Reduce -76.0% WDC Western Digital Corp. 6,047 $413K New DKS Dick's Sporting Goods Inc. 1,901 $397K New TRGP Targa Resources Corp. 2,561 $379K No change ARKK ARK Innovation ETF 7,219 $343K Reduce -56.9% SMCI Super Micro Computer Inc. 796 $331K No change UGI Ugi Corp. 12,897 $323K New SBSW Sibanye-Stillwater Ltd.-ADR 77,772 $320K Add +154.4% RRC Range Resources Corp. 10,381 $319K Reduce -45.8% BBY Best Buy Co. Inc. 2,684 $277K No change FISV Fiserv Inc. 1,540 $277K Reduce -75.2% IDCC Interdigital Inc. 1,812 $257K New FDX FedEx Corp. 895 $245K No change SCHW Schwab (charles) Corp. 3,663 $237K New ROST Ross Stores Inc. 1,452 $219K No change NFLX Netflix Inc. 288 $204K New RIVN Rivian Automotive Inc. Class A 16,669 $187K New HLF Herbalife Ltd. 10,186 $73K Reduce -90.6%
Options reported separately and not counted above: AKAM puts ($107.0M), LYV puts ($97.3M), MIDD puts ($73.5M), CCL puts ($57.5M), STX puts ($50.5M), WDC puts ($49.7M), PODD puts ($39.9M), BABA puts ($36.0M), WEC puts ($31.7M), TRGP puts ($28.4M), FLR puts ($26.1M), BTU puts ($25.0M), and 214 more.
Other holdings (6): bonds, preferreds, convertibles and warrants · $174.9M (not counted above) Security Class Shares / Principal Value Change SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 46,000,000 $66.3M New HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 840,000 $50.9M New PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal 14,250,000 $21.4M Reduce -65.8% RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 19,700,000 $17.8M No change HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal 17,415,000 $13.0M New ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 5,300,000 $5.5M Reduce -65.1%
Total filed on the 13F, all lines: $302.0M.
Portfolio Sells Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ AKAM Akamai Technologies Inc. Reduce -52.4% 4.82% −4.14 FOUR SHIFT4 Payments Inc. Class A Sold out 0.00% −4.10 NOW ServiceNow Inc. Sold out 0.00% −1.54 XLE SS Energy Select Sector Reduce -43.3% 1.80% −1.46 OKE Oneok Inc. Reduce -82.0% 0.34% −1.35 PCG P G & E Corp. Reduce -78.8% 0.38% −1.17 NBIX Neurocrine Biosciences Inc. Sold out 0.00% −1.12 ADP Automatic Data Processing Sold out 0.00% −1.01 SPG Simon Property Group Inc. Sold out 0.00% −0.95 DRI Darden Restaurants Inc. Reduce -76.0% 0.34% −0.95 CDW CDW Corp. Sold out 0.00% −0.95 HLF Herbalife Ltd. Reduce -90.6% 0.06% −0.82 ITRI Itron Inc. Reduce -73.0% 0.34% −0.82 MA Mastercard Inc. Class A Sold out 0.00% −0.79 KHC The Kraft Heinz Co. Reduce -38.0% 1.56% −0.73 RH RH Sold out 0.00% −0.71 KOS Kosmos Energy Ltd. Sold out 0.00% −0.70 CAH Cardinal Health Inc. Sold out 0.00% −0.56 WYNN WYNN Resorts Ltd. Reduce -55.3% 0.51% −0.54 SKT Tanger Inc. Sold out 0.00% −0.52 FISV Fiserv Inc. Reduce -75.2% 0.22% −0.50 SEIC Sei Investments Company Reduce -49.3% 0.56% −0.46 CSCO Cisco Systems Inc. Reduce -53.3% 0.51% −0.45 THO Thor Industries Inc. Reduce -57.6% 0.45% −0.44 STT State Street Corp. Sold out 0.00% −0.41 ALNY Alnylam Pharmaceuticals Inc. Reduce -28.1% 1.84% −0.40 ENOV Enovis Corp. Sold out 0.00% −0.38 VTRS Viatris Inc. Reduce -51.1% 0.39% −0.33 LOW Lowe's Cos Inc. Sold out 0.00% −0.32 ARKK ARK Innovation ETF Reduce -56.9% 0.27% −0.30 NCLH Norwegian Cruise Line Holdin Sold out 0.00% −0.29 NUE Nucor Corp. Reduce -18.5% 1.05% −0.29 BLK BlackRock Finance Inc. Sold out 0.00% −0.29 MP MP Materials Corp. Sold out 0.00% −0.28 ON On Semiconductor Reduce -29.8% 0.78% −0.26 RRC Range Resources Corp. Reduce -45.8% 0.25% −0.25 ABBV Abbvie Inc. Sold out 0.00% −0.24 XRX Xerox Holdings Corp. Sold out 0.00% −0.23 MAN Manpowergroup Inc. Reduce -19.0% 1.39% −0.22 SNX TD Synnex Corp. Sold out 0.00% −0.22 VSH Vishay Intertechnology Inc. Sold out 0.00% −0.20 VOYA Voya Financial Inc. Sold out 0.00% −0.19 UNH Unitedhealth Group Inc. Sold out 0.00% −0.18 WEC WEC Energy Group Inc. Sold out 0.00% −0.16 CSX CSX Corp. Reduce -11.9% 1.09% −0.10 KMX Carmax Inc. Reduce -19.8% 0.56% −0.10 FLR Fluor Corp. Reduce -9.0% 1.45% +0.01 ARCB Arcbest Corp. Reduce -0.2% 0.65% +0.01 PODD Insulet Corp. Reduce -10.5% 7.23% +0.29
Portfolio Buys Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ DVN Devon Energy Corp. Add +306.2% 4.87% +3.43 W Wayfair Inc. Class A Add +108.4% 4.60% +2.55 DINO HF Sinclair Corp. Add +141.0% 4.95% +2.52 BP BP PLC-Spons ADR Add +86.3% 5.74% +2.23 FANG Diamondback Energy Inc. Add +247.5% 2.38% +1.59 MTDR Matador Resources Co. Add +165.7% 2.59% +1.42 MIDD Middleby Corp. New 1.42% +1.42 MUR Murphy Oil Corp. Add +128.0% 2.95% +1.38 LYV Live Nation Entertainment Inc. New 1.35% +1.35 BG Bunge Global SA Add +272.4% 1.82% +1.29 BYD Boyd Gaming Corp. New 1.27% +1.27 CNMD Conmed Corp. New 1.04% +1.04 EOG EOG Resources Inc. Add +48.7% 2.94% +0.93 COP Conocophillips Add +50.4% 3.02% +0.86 TROW T Rowe Price Group Inc. Add +228.4% 1.00% +0.68 CTRA Coterra Energy Inc. New 0.63% +0.63 CLF Cleveland-Cliffs Inc. Add +93.8% 1.64% +0.63 BBIO Bridgebio Pharma Inc. Add +60.4% 1.55% +0.60 APA Apa Corp. Add +110.5% 1.21% +0.52 HAL Halliburton Co. Add +119.0% 1.07% +0.51 ADSK Autodesk Inc. Add +81.8% 0.98% +0.50 HUM Humana Inc. Add +100.1% 1.10% +0.46 LEA Lear Corp. Add +25.0% 2.56% +0.44 SWKS Skyworks Solutions Inc. Add +152.0% 0.73% +0.42 WGO Winnebago Industries Add +3.8% 3.40% +0.37 MLM Martin Marietta Materials Add +25.9% 1.63% +0.34 WDC Western Digital Corp. New 0.32% +0.32 DKS Dick's Sporting Goods Inc. New 0.31% +0.31 UGI Ugi Corp. New 0.25% +0.25 RS Reliance Inc. Add +12.1% 1.87% +0.24 CMC Commercial Metals Co. Add +44.8% 0.71% +0.22 EQT Eqt Corp. Add +25.7% 1.02% +0.21 IDCC Interdigital Inc. New 0.20% +0.20 SCHW Schwab (charles) Corp. New 0.19% +0.19 CC The Chemours Co. Add +24.5% 1.53% +0.18 NFLX Netflix Inc. New 0.16% +0.16 LYB Lyondellbasell Indu Class A Add +6.6% 2.12% +0.15 SBSW Sibanye-Stillwater Ltd.-ADR Add +154.4% 0.25% +0.15 RIVN Rivian Automotive Inc. Class A New 0.15% +0.15 TTWO Take-Two Interactive Softwre Add +26.7% 0.61% +0.13 MRO Marathon Oil Corp. Add +60.8% 0.36% +0.12 STZ Constellation Brands Inc. Class A Add +9.7% 0.77% +0.08 WOLF Wolfspeed Inc. Add +71.7% 0.38% −0.13
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ AKAM Akamai Technologies Inc. put Add +10.2% 1,060,000 $107.0M FOUR SHIFT4 Payments Inc. Class A put Sold out 1,413,400 $103.7Mbefore exit LYV Live Nation Entertainment Inc. put Add +6.0% 888,300 $97.3M MIDD Middleby Corp. put Add +23.9% 528,500 $73.5M CCL Carnival Corp. put Add +54.8% 3,110,700 $57.5M TCOM Trip.com Group Ltd.-ADR put Sold out 1,087,800 $51.1Mbefore exit STX Seagate Technology Holdings put Reduce -2.5% 461,400 $50.5M WDC Western Digital Corp. put Add +49.1% 728,500 $49.7M AAL American Airlines Group Inc. put Sold out 4,180,000 $47.4Mbefore exit BABA Alibaba Group Holding-SP ADR put Reduce -78.7% 337,500 $36.0M JPM JPMorgan Chase & Co. call Sold out 146,500 $29.6Mbefore exit BTU Peabody Energy Corp. put Reduce -39.3% 941,100 $25.0M XRX Xerox Holdings Corp. put Add +26.3% 2,400,000 $24.9M UGI Ugi Corp. put New 958,000 $24.0M HPE Hewlett Packard Enterprise put New 1,160,000 $23.7M SBSW Sibanye-Stillwater Ltd.-ADR put Add +12.7% 5,669,100 $23.3M VSH Vishay Intertechnology Inc. put Sold out 996,500 $22.2Mbefore exit ADSK Autodesk Inc. put Add +184.5% 77,100 $21.2M JPM JPMorgan Chase & Co. put Sold out 104,500 $21.1Mbefore exit HLF Herbalife Ltd. put Add +15.4% 2,842,400 $20.4M RIVN Rivian Automotive Inc. Class A put Reduce -41.0% 1,568,000 $17.6M ENOV Enovis Corp. put Add +68.5% 404,700 $17.4M NCLH Norwegian Cruise Line Holdin put Sold out 900,000 $16.9Mbefore exit NIO Nio Inc. - ADR put Sold out 3,669,100 $15.3Mbefore exit AKAM Akamai Technologies Inc. call New 145,900 $14.7M SCHW Schwab (charles) Corp. put Reduce -50.8% 213,500 $13.8M ORA Ormat Technologies Inc. put Reduce -51.7% 173,800 $13.4M ENV Envestnet Inc. put Sold out 210,000 $13.1Mbefore exit MCHP Microchip Technology Inc. put New 150,000 $12.0M KOS Kosmos Energy Ltd. put Sold out 2,113,800 $11.7Mbefore exit ON On Semiconductor put Add +5.2% 152,500 $11.1M AEIS Advanced Energy Industries put Add +42.0% 104,500 $11.0M MP MP Materials Corp. put Add +0.0% 600,100 $10.6M BL Blackline Inc. put Reduce -15.8% 189,100 $10.4M GES Guess? Inc. put Reduce -2.1% 489,300 $9.8M TTEK Tetra Tech Inc. put Reduce -60.0% 200,000 $9.4M ALNY Alnylam Pharmaceuticals Inc. put Reduce -43.9% 31,600 $8.7M BYD Boyd Gaming Corp. call Reduce -46.9% 114,800 $7.4M BBIO Bridgebio Pharma Inc. put Add +15.9% 277,200 $7.1M W Wayfair Inc. Class A put Reduce -65.7% 118,800 $6.7M WOLF Wolfspeed Inc. put Add +116.7% 650,000 $6.3M CNMD Conmed Corp. call New 77,200 $5.6M SPHR Sphere Entertainment Co. put New 98,000 $4.3M SCHW Schwab (charles) Corp. call Reduce -79.4% 57,800 $3.7M SPCE Virgin Galactic Holdings Inc. put Reduce -77.3% 878,000 $1.3M CNMD Conmed Corp. put Reduce -84.2% 15,800 $1.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal New 46,000,000 $66.3M HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV New 840,000 $50.9M AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) NOTE 6.500% 7/0 · principal Sold out 26,440,000 $27.4Mbefore exit WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal Sold out 18,000,000 $25.0Mbefore exit PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal Reduce -65.8% 14,250,000 $21.4M NCL CORPORATION LTD (NCLH 5.375 08/01/25) NOTE 5.375% 8/0 · principal Sold out 11,450,000 $13.9Mbefore exit INTERDIGITAL INC (IDCC 3.5 06/01/27) NOTE 3.500% 6/0 · principal Sold out 8,650,000 $13.4Mbefore exit HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal New 17,415,000 $13.0M ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal Reduce -65.1% 5,300,000 $5.5M
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 25 $298.1M BABA, RDDT, W, NEE, STX Q1 2026 26 $159.8M NEE, ALB, GLD, W, ORCL Q4 2025 22 $103.5M NEE, KKR, ALB, TTEK, BA Q3 2025 17 $38.4M BBIO, W, ITRI, LCID, BL Q2 2025 27 $49.8M PODD, W, BBIO, ALNY, LOW Q1 2025 43 $114.2M PODD, W, BP, NCLH, SKX Q4 2024 55 $108.3M PODD, W, DVN, WDC, BP Q3 2024 74 $127.1M PODD, BP, DINO, DVN, AKAM Q2 2024 86 $128.3M AKAM, PODD, FOUR, BP, XLE Q1 2024 83 $97.3M MIDD, AKAM, PODD, FOUR, FLR