Portman Square Capital LLP In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 16, 2025), Portman Square Capital LLP reported 55 stock positions worth $108.3 million . Its top holding was Insulet (PODD) at 11.8% of the portfolio, followed by Wayfair Class A (W, 7.0% ) and Devon Energy (DVN, 6.9% ). Compared with Q3 2024, it opened 7 new positions, sold out of 26, added to 25 and reduced 16. The biggest buy was Western Digital (WDC, shares +1807% ) and the biggest sale Akamai Technologies (AKAM, shares −95% ).
Location London, X0
CIK 0001966898
Portfolio Value $108.3M (Q4 2024) Holdings 55 stocks · $108.3M 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 Q3 2024 PODD Insulet Corp. 49,014 $12.8M Add +24.1% W Wayfair Inc. Class A 170,148 $7.5M Add +63.5% DVN Devon Energy Corp. 228,793 $7.5M Add +44.5% WDC Western Digital Corp. 115,334 $6.9M Add +1807.3% BP BP PLC-Spons ADR 215,107 $6.4M Reduce -7.5% WGO Winnebago Industries 121,920 $5.8M Add +63.8% LYB Lyondellbasell Indu Class A 77,738 $5.8M Add +176.5% CLF Cleveland-Cliffs Inc. 357,644 $3.4M Add +119.5% FANG Diamondback Energy Inc. 19,856 $3.3M Add +13.4% ALNY Alnylam Pharmaceuticals Inc. 12,939 $3.0M Add +52.0% STZ Constellation Brands Inc. Class A 13,600 $3.0M Add +258.2% DINO HF Sinclair Corp. 81,857 $2.9M Reduce -42.0% KHC The Kraft Heinz Co. 90,256 $2.8M Add +59.9% BG Bunge Global SA 32,643 $2.5M Add +36.1% CSX CSX Corp. 70,259 $2.3M Add +75.6% COP Conocophillips 22,482 $2.2M Reduce -38.3% WYNN WYNN Resorts Ltd. 21,793 $1.9M Add +224.3% HUM Humana Inc. 6,712 $1.7M Add +52.7% UGI Ugi Corp. 58,202 $1.6M Add +351.3% APA Apa Corp. 64,007 $1.5M Add +1.7% SEIC Sei Investments Company 17,408 $1.4M Add +69.5% NUE Nucor Corp. 12,118 $1.4M Add +36.4% ARCB Arcbest Corp. 13,987 $1.3M Add +84.0% SWKS Skyworks Solutions Inc. 14,064 $1.2M Add +50.2% FCX Freeport-McMoran Inc. 32,358 $1.2M New HAL Halliburton Co. 44,736 $1.2M Reduce -4.7% CTAS Cintas Corp. 6,400 $1.2M New STX Seagate Technology Holdings 13,296 $1.1M New CNMD Conmed Corp. 15,640 $1.1M Reduce -14.8% AEIS Advanced Energy Industries 8,775 $1.0M New THO Thor Industries Inc. 9,452 $905K Add +81.5% EOG EOG Resources Inc. 7,039 $863K Reduce -76.8% TTEK Tetra Tech Inc. 21,320 $849K New BYD Boyd Gaming Corp. 10,930 $793K Reduce -56.1% PCG P G & E Corp. 37,572 $758K Add +55.2% WOLF Wolfspeed Inc. 110,056 $733K Add +121.7% BBIO Bridgebio Pharma Inc. 24,527 $673K Reduce -68.3% GLW Corning Inc. 11,000 $523K No change OKE Oneok Inc. 4,796 $482K No change TRGP Targa Resources Corp. 2,561 $457K No change ITRI Itron Inc. 4,154 $451K Add +2.3% LYV Live Nation Entertainment Inc. 2,808 $364K Reduce -82.0% KMX Carmax Inc. 4,053 $331K Reduce -55.7% TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 2,875 $325K Reduce -75.3% FISV Fiserv Inc. 1,540 $316K No change DRI Darden Restaurants Inc. 1,650 $308K Reduce -37.0% AKAM Akamai Technologies Inc. 3,010 $288K Reduce -95.0% BABA Alibaba Group Holding-SP ADR 3,041 $258K New FDX FedEx Corp. 895 $252K No change MIDD Middleby Corp. 1,814 $246K Reduce -86.0% CTRA Coterra Energy Inc. 9,136 $233K Reduce -72.6% BBY Best Buy Co. Inc. 2,684 $230K No change UNM Unum Group 3,116 $228K New EQT Eqt Corp. 4,815 $222K Reduce -86.4% ROST Ross Stores Inc. 1,452 $220K No change
Options reported separately and not counted above: LYV puts ($164.2M), AKAM puts ($102.0M), STX puts ($77.8M), BA puts ($75.7M), BABA puts ($75.4M), NEE puts ($70.3M), MIDD puts ($58.2M), AKAM calls ($52.0M), PCG puts ($49.8M), WDC puts ($47.5M), CCL puts ($46.6M), UGI puts ($40.9M), and 176 more.
Other holdings (5): bonds, preferreds, convertibles and warrants · $411.3M (not counted above) Security Class Shares / Principal Value Change BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 2,252,000 $136.9M New NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 2,800,000 $128.1M New SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 102,000,000 $123.0M Add +121.7% VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal 11,250,000 $12.8M New STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal 10,000,000 $10.4M New
Total filed on the 13F, all lines: $519.6M.
Portfolio Sells Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ AKAM Akamai Technologies Inc. Reduce -95.0% 0.27% −4.55 MUR Murphy Oil Corp. Sold out 0.00% −2.95 MTDR Matador Resources Co. Sold out 0.00% −2.59 LEA Lear Corp. Sold out 0.00% −2.56 DINO HF Sinclair Corp. Reduce -42.0% 2.65% −2.30 EOG EOG Resources Inc. Reduce -76.8% 0.80% −2.14 RS Reliance Inc. Sold out 0.00% −1.87 XLE SS Energy Select Sector Sold out 0.00% −1.80 MLM Martin Marietta Materials Sold out 0.00% −1.63 CC The Chemours Co. Sold out 0.00% −1.53 FLR Fluor Corp. Sold out 0.00% −1.45 MAN Manpowergroup Inc. Sold out 0.00% −1.39 MIDD Middleby Corp. Reduce -86.0% 0.23% −1.19 LYV Live Nation Entertainment Inc. Reduce -82.0% 0.34% −1.01 ADSK Autodesk Inc. Sold out 0.00% −0.98 COP Conocophillips Reduce -38.3% 2.06% −0.96 BBIO Bridgebio Pharma Inc. Reduce -68.3% 0.62% −0.93 EQT Eqt Corp. Reduce -86.4% 0.21% −0.81 ON On Semiconductor Sold out 0.00% −0.78 CMC Commercial Metals Co. Sold out 0.00% −0.71 TROW T Rowe Price Group Inc. Reduce -75.3% 0.30% −0.70 TTWO Take-Two Interactive Softwre Sold out 0.00% −0.61 BYD Boyd Gaming Corp. Reduce -56.1% 0.73% −0.53 CSCO Cisco Systems Inc. Sold out 0.00% −0.51 CTRA Coterra Energy Inc. Reduce -72.6% 0.22% −0.41 VTRS Viatris Inc. Sold out 0.00% −0.39 MRO Marathon Oil Corp. Sold out 0.00% −0.36 DKS Dick's Sporting Goods Inc. Sold out 0.00% −0.31 ARKK ARK Innovation ETF Sold out 0.00% −0.27 SMCI Super Micro Computer Inc. Sold out 0.00% −0.26 SBSW Sibanye-Stillwater Ltd.-ADR Sold out 0.00% −0.25 RRC Range Resources Corp. Sold out 0.00% −0.25 KMX Carmax Inc. Reduce -55.7% 0.31% −0.25 IDCC Interdigital Inc. Sold out 0.00% −0.20 SCHW Schwab (charles) Corp. Sold out 0.00% −0.19 NFLX Netflix Inc. Sold out 0.00% −0.16 RIVN Rivian Automotive Inc. Class A Sold out 0.00% −0.15 HLF Herbalife Ltd. Sold out 0.00% −0.06 DRI Darden Restaurants Inc. Reduce -37.0% 0.28% −0.05 CNMD Conmed Corp. Reduce -14.8% 0.99% −0.05 HAL Halliburton Co. Reduce -4.7% 1.12% +0.05 BP BP PLC-Spons ADR Reduce -7.5% 5.87% +0.13
Portfolio Buys Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ WDC Western Digital Corp. Add +1807.3% 6.35% +6.03 PODD Insulet Corp. Add +24.1% 11.82% +4.59 LYB Lyondellbasell Indu Class A Add +176.5% 5.33% +3.21 W Wayfair Inc. Class A Add +63.5% 6.97% +2.37 DVN Devon Energy Corp. Add +44.5% 6.92% +2.04 STZ Constellation Brands Inc. Class A Add +258.2% 2.78% +2.01 WGO Winnebago Industries Add +63.8% 5.38% +1.98 CLF Cleveland-Cliffs Inc. Add +119.5% 3.11% +1.47 UGI Ugi Corp. Add +351.3% 1.52% +1.26 WYNN WYNN Resorts Ltd. Add +224.3% 1.73% +1.23 FCX Freeport-McMoran Inc. New 1.14% +1.14 CTAS Cintas Corp. New 1.08% +1.08 STX Seagate Technology Holdings New 1.06% +1.06 CSX CSX Corp. Add +75.6% 2.09% +1.01 KHC The Kraft Heinz Co. Add +59.9% 2.56% +1.00 ALNY Alnylam Pharmaceuticals Inc. Add +52.0% 2.81% +0.97 AEIS Advanced Energy Industries New 0.94% +0.94 TTEK Tetra Tech Inc. New 0.78% +0.78 SEIC Sei Investments Company Add +69.5% 1.33% +0.77 FANG Diamondback Energy Inc. Add +13.4% 3.00% +0.63 ARCB Arcbest Corp. Add +84.0% 1.21% +0.56 BG Bunge Global SA Add +36.1% 2.34% +0.52 HUM Humana Inc. Add +52.7% 1.57% +0.48 SWKS Skyworks Solutions Inc. Add +50.2% 1.15% +0.42 THO Thor Industries Inc. Add +81.5% 0.84% +0.39 PCG P G & E Corp. Add +55.2% 0.70% +0.32 WOLF Wolfspeed Inc. Add +121.7% 0.68% +0.30 NUE Nucor Corp. Add +36.4% 1.31% +0.26 BABA Alibaba Group Holding-SP ADR New 0.24% +0.24 UNM Unum Group New 0.21% +0.21 APA Apa Corp. Add +1.7% 1.37% +0.15 ITRI Itron Inc. Add +2.3% 0.42% +0.08
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ LYV Live Nation Entertainment Inc. put Add +42.8% 1,268,200 $164.2M AKAM Akamai Technologies Inc. put Add +0.6% 1,066,000 $102.0M STX Seagate Technology Holdings put Add +95.3% 901,300 $77.8M BA The Boeing Co. put New 427,500 $75.7M BABA Alibaba Group Holding-SP ADR put Add +163.4% 889,000 $75.4M NEE Nextera Energy Inc. put New 980,000 $70.3M MIDD Middleby Corp. put Reduce -18.8% 429,400 $58.2M AKAM Akamai Technologies Inc. call Add +272.8% 543,900 $52.0M PCG P G & E Corp. put Add +104.6% 2,467,100 $49.8M WDC Western Digital Corp. put Add +9.3% 796,300 $47.5M CCL Carnival Corp. put Reduce -39.9% 1,870,700 $46.6M UGI Ugi Corp. put Add +51.4% 1,450,100 $40.9M PODD Insulet Corp. put Reduce -23.3% 131,400 $34.3M TRGP Targa Resources Corp. put Reduce -9.2% 174,500 $31.1M MIDD Middleby Corp. call New 210,500 $28.5M FLR Fluor Corp. put Add +2.8% 562,700 $27.8M AAPL Apple Inc. put Reduce -6.1% 94,200 $23.6M ITRI Itron Inc. put Add +41.4% 198,000 $21.5M UNM Unum Group put Reduce -10.9% 289,600 $21.1M NFLX Netflix Inc. put Reduce -9.5% 23,700 $21.1M HLF Herbalife Ltd. put Sold out 2,842,400 $20.4Mbefore exit ROST Ross Stores Inc. put Reduce -8.9% 133,900 $20.3M GPN Global Payments Inc. put Reduce -25.0% 180,000 $20.2M EQT Eqt Corp. put Reduce -8.8% 434,400 $20.0M MA Mastercard Inc. Class A put Reduce -5.5% 37,900 $20.0M AEIS Advanced Energy Industries put Add +59.3% 166,500 $19.3M WGO Winnebago Industries put Add +4.4% 391,600 $18.7M CMG Chipotle Mexican Grill Inc. put Reduce -3.2% 305,000 $18.4M RIVN Rivian Automotive Inc. Class A put Sold out 1,568,000 $17.6Mbefore exit META Meta Platforms Inc. Class A put Reduce -5.7% 29,900 $17.5M MSTR Strategy Inc. put New 60,000 $17.4M FISV Fiserv Inc. put Reduce -7.9% 82,900 $17.0M THC Tenet Healthcare Corp. put Sold out 100,500 $16.7Mbefore exit GLW Corning Inc. put Reduce -8.0% 340,900 $16.2M BBY Best Buy Co. Inc. put Reduce -5.7% 188,300 $16.2M OKE Oneok Inc. put Reduce -7.9% 160,300 $16.1M MS Morgan Stanley put Reduce -6.9% 127,300 $16.0M BSX Boston Scientific Corp. put Reduce -7.9% 176,300 $15.7M LYB Lyondellbasell Indu Class A put Reduce -9.1% 204,100 $15.2M EOG EOG Resources Inc. put Reduce -21.6% 119,200 $14.6M DRI Darden Restaurants Inc. put Reduce -7.9% 77,800 $14.5M FDX FedEx Corp. put Reduce -10.0% 51,400 $14.5M SEIC Sei Investments Company put Sold out 208,000 $14.4Mbefore exit SBSW Sibanye-Stillwater Ltd.-ADR put Reduce -23.2% 4,355,900 $14.4M RRC Range Resources Corp. put Reduce -10.9% 398,200 $14.3M BYD Boyd Gaming Corp. put Reduce -48.1% 196,400 $14.2M AXON Axon Enterprise Inc. put Reduce -9.8% 23,800 $14.1M SCHW Schwab (charles) Corp. put Reduce -10.6% 190,900 $14.1M BCO The Brink's Co. put Sold out 121,600 $14.1Mbefore exit HLT Hilton Worldwide Holdings Inc. put Reduce -7.9% 56,200 $13.9M
Showing the first 50 of 198.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A New 2,252,000 $136.9M NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 New 2,800,000 $128.1M SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal Add +121.7% 102,000,000 $123.0M HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV Sold out 840,000 $50.9Mbefore exit PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal Sold out 14,250,000 $21.4Mbefore exit RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal Sold out 19,700,000 $17.8Mbefore exit HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal Sold out 17,415,000 $13.0Mbefore exit VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal New 11,250,000 $12.8M STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal New 10,000,000 $10.4M ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal Sold out 5,300,000 $5.5Mbefore exit
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