Tran Capital Management, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 14, 2026), Tran Capital Management, L.P. reported 71 stock positions worth $728.3 million. Its top holding was Nvidia (NVDA) at 6.3% of the portfolio, followed by Arm Holdings PLC-ADR (ARM, 5.7%) and Ferguson Enterprises (FERG, 5.2%). Compared with Q4 2025, it opened 8 new positions, sold out of 10, added to 16 and reduced 24. The biggest buy was a new position in Phillips 66 (PSX) and the biggest sale Fair Isaac (FICO, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- SAN RAFAEL, CA
- CIK
- 0001009262
- Portfolio Value
- $728.3M (Q1 2026)
- SEC Filing
- 0001104659-26-043004 ↗ filed Apr 14, 2026
Holdings Value
Holdings 71 stocks · $728.3M
| NVDA Nvidia Corp. | 6.33% | 264,389 | $46.1M | Reduce -19.1% |
| ARM Arm Holdings PLC-ADR | 5.67% | 272,907 | $41.3M | Add +44.0% |
| FERG Ferguson Enterprises Inc. | 5.22% | 163,061 | $38.0M | Reduce -3.0% |
| AMZN Amazon.com Inc. | 5.07% | 177,344 | $36.9M | Reduce -31.2% |
| MSFT Microsoft Corp. | 4.78% | 94,032 | $34.8M | Reduce -21.8% |
| PSX Phillips 66 | 4.75% | 189,901 | $34.6M | New |
| DHR Danaher Corp. | 4.56% | 175,151 | $33.2M | Reduce -3.9% |
| PANW Palo Alto Networks Inc. | 4.48% | 203,366 | $32.6M | Add +16.1% |
| GOOGL Alphabet Inc. Class A | 4.29% | 108,605 | $31.2M | Reduce -1.3% |
| TLN Talen Energy Corp. | 3.98% | 90,712 | $29.0M | Reduce -43.3% |
| NFLX Netflix Inc. | 3.94% | 298,501 | $28.7M | Add +42.8% |
| GEV GE Vernova Inc. | 3.74% | 31,226 | $27.3M | Reduce -11.3% |
| META Meta Platforms Inc. Class A | 3.62% | 46,102 | $26.4M | Reduce -9.4% |
| MLM Martin Marietta Materials | 3.55% | 43,889 | $25.8M | Reduce -18.9% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 3.25% | 326,505 | $23.7M | Add +0.4% |
| TSM Taiwan Semiconductor-SP ADR | 3.25% | 69,993 | $23.7M | Reduce -43.3% |
| TYL Tyler Technologies Inc. | 2.84% | 60,483 | $20.7M | New |
| INTU Intuit Inc. | 2.65% | 44,601 | $19.3M | Add +17.4% |
| ELE Elemental Royalty Corp. | 2.59% | 1,003,021 | $18.9M | New |
| BWXT BWX Technologies Inc. | 2.54% | 90,505 | $18.5M | Add +1908.1% |
| PGR Progressive Corp. | 2.04% | 75,043 | $14.9M | Add +168.7% |
| ATI Ati Inc. | 1.81% | 90,862 | $13.2M | Reduce -74.2% |
| WCC Wesco International Inc. | 1.66% | 44,279 | $12.1M | Add +4042.1% |
| VG Venture Global Inc. Class A | 1.56% | 722,146 | $11.4M | New |
| AER Aercap Holdings NV | 1.40% | 74,360 | $10.2M | No change |
| APD Air Products & Chemicals Inc. | 1.16% | 29,166 | $8.5M | New |
| MKL Markel Group Inc. | 0.96% | 3,670 | $7.0M | Add +1553.2% |
| TPL Texas Pacific Land Corp. | 0.93% | 14,294 | $6.8M | New |
| THC Tenet Healthcare Corp. | 0.84% | 32,428 | $6.1M | Reduce -5.6% |
| SPSC SPS Commerce Inc. | 0.68% | 89,538 | $5.0M | New |
| RWT Redwood Trust Inc. | 0.54% | 706,176 | $4.0M | Add +32.5% |
| SCHR Schwab Intermediate-Term US | 0.39% | 114,878 | $2.9M | Add +3.4% |
| SCHP Schwab U.S. Tips ETF | 0.38% | 104,633 | $2.8M | Add +2.7% |
| PFF iShares Preferred & Income S | 0.38% | 90,869 | $2.8M | Add +2.6% |
| VMBS Vanguard Mortgage-Backed Sec | 0.37% | 57,346 | $2.7M | Reduce -0.7% |
| AAPL Apple Inc. | 0.30% | 8,701 | $2.2M | Reduce -2.2% |
| EXR Extra Space Storage Inc. | 0.21% | 11,910 | $1.6M | No change |
| GGG Graco Inc. | 0.21% | 18,050 | $1.5M | Reduce -4.1% |
| KEYS Keysight Technologies Inc. | 0.21% | 5,375 | $1.5M | Reduce -12.9% |
| FICO Fair Isaac Corp. | 0.18% | 1,230 | $1.3M | Reduce -93.6% |
| LHX L3HARRIS Technologies Inc. | 0.17% | 3,532 | $1.2M | No change |
| TSLA Tesla Inc. | 0.16% | 3,164 | $1.2M | No change |
| SCHW Schwab (charles) Corp. | 0.16% | 12,435 | $1.2M | Reduce -91.7% |
| TMUS T-Mobile US Inc. | 0.15% | 5,354 | $1.1M | Reduce -48.3% |
| LLY Eli Lilly & Co. | 0.14% | 1,126 | $1.0M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.14% | 1,583 | $1.0M | Reduce -58.3% |
| AFL Aflac Inc. | 0.12% | 8,000 | $878K | No change |
| ENTG Entegris Inc. | 0.11% | 7,076 | $830K | Reduce -1.3% |
| ADP Automatic Data Processing | 0.11% | 3,927 | $798K | No change |
| AMD Advanced Micro Devices | 0.11% | 3,874 | $788K | No change |
| TXN Texas Instruments Inc. | 0.10% | 3,776 | $733K | No change |
| PAYX Paychex Inc. | 0.10% | 7,887 | $727K | No change |
| EEM iShares MSCI Emerging Market | 0.10% | 12,475 | $708K | No change |
| AVTR Avantor Inc. | 0.09% | 86,908 | $681K | Add +99.8% |
| CSCO Cisco Systems Inc. | 0.09% | 8,500 | $660K | No change |
| LPLA LPL Financial Holdings Inc. | 0.08% | 1,848 | $556K | Reduce -0.1% |
| IWM iShares Russell 2000 ETF | 0.07% | 2,159 | $535K | No change |
| RSP Invesco S&P 500 Equal Weight | 0.07% | 2,560 | $491K | No change |
| BE Bloom Energy Corp. Class A | 0.06% | 3,406 | $461K | New |
| IEFA iShares Core MSCI Eafe ETF | 0.06% | 4,855 | $440K | No change |
| VRT Vertiv Holdings Co. Class A | 0.06% | 1,632 | $409K | No change |
| JNJ Johnson & Johnson | 0.05% | 1,600 | $391K | No change |
| AHR American Healthcare REIT Inc. | 0.05% | 7,350 | $347K | No change |
| IEF iShares 7-10 Year Treasury B | 0.05% | 3,450 | $329K | No change |
| BF.B Brown-Forman Corp. Class B | 0.04% | 11,575 | $306K | No change |
| QXO Qxo Inc. | 0.04% | 14,434 | $280K | Add +1.1% |
| HD Home Depot Inc. | 0.04% | 794 | $261K | No change |
| SHW The Sherwin-Williams Co. | 0.04% | 806 | $258K | Reduce -85.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.03% | 500 | $240K | No change |
| JPM JPMorgan Chase & Co. | 0.03% | 761 | $224K | Add +0.4% |
| TECH Bio-Techne Corp. | 0.03% | 4,000 | $209K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| FICO Fair Isaac Corp. | Reduce -93.6% | 0.18% | −3.72 |
| TLN Talen Energy Corp. | Reduce -43.3% | 3.98% | −3.21 |
| ATI Ati Inc. | Reduce -74.2% | 1.81% | −3.03 |
| CRM Salesforce Inc. | Sold out | 0.00% | −2.33 |
| MSFT Microsoft Corp. | Reduce -21.8% | 4.78% | −2.18 |
| AMZN Amazon.com Inc. | Reduce -31.2% | 5.07% | −2.06 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −1.88 |
| SCHW Schwab (charles) Corp. | Reduce -91.7% | 0.16% | −1.62 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −1.61 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -43.3% | 3.25% | −1.24 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −1.23 |
| NVDA Nvidia Corp. | Reduce -19.1% | 6.33% | −0.97 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.81 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.81 |
| ELF Elf Beauty Inc. | Sold out | 0.00% | −0.66 |
| MLM Martin Marietta Materials | Reduce -18.9% | 3.55% | −0.49 |
| DHR Danaher Corp. | Reduce -3.9% | 4.56% | −0.44 |
| META Meta Platforms Inc. Class A | Reduce -9.4% | 3.62% | −0.40 |
| SHW The Sherwin-Williams Co. | Reduce -85.5% | 0.04% | −0.18 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -58.3% | 0.14% | −0.17 |
| NTAP Netapp Inc. | Sold out | 0.00% | −0.13 |
| TMUS T-Mobile US Inc. | Reduce -48.3% | 0.15% | −0.10 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.03 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.03 |
| LPLA LPL Financial Holdings Inc. | Reduce -0.1% | 0.08% | −0.00 |
| AAPL Apple Inc. | Reduce -2.2% | 0.30% | +0.01 |
| THC Tenet Healthcare Corp. | Reduce -5.6% | 0.84% | +0.02 |
| GGG Graco Inc. | Reduce -4.1% | 0.21% | +0.03 |
| ENTG Entegris Inc. | Reduce -1.3% | 0.11% | +0.04 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -0.7% | 0.37% | +0.04 |
| KEYS Keysight Technologies Inc. | Reduce -12.9% | 0.21% | +0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -1.3% | 4.29% | +0.16 |
| FERG Ferguson Enterprises Inc. | Reduce -3.0% | 5.22% | +0.74 |
| GEV GE Vernova Inc. | Reduce -11.3% | 3.74% | +0.99 |
Portfolio Buys Q4 2025 → Q1 2026
| PSX Phillips 66 | New | 4.75% | +4.75 |
| ARM Arm Holdings PLC-ADR | Add +44.0% | 5.67% | +3.19 |
| TYL Tyler Technologies Inc. | New | 2.84% | +2.84 |
| ELE Elemental Royalty Corp. | New | 2.59% | +2.59 |
| BWXT BWX Technologies Inc. | Add +1908.1% | 2.54% | +2.45 |
| WCC Wesco International Inc. | Add +4042.1% | 1.66% | +1.63 |
| NFLX Netflix Inc. | Add +42.8% | 3.94% | +1.59 |
| VG Venture Global Inc. Class A | New | 1.56% | +1.56 |
| PGR Progressive Corp. | Add +168.7% | 2.04% | +1.28 |
| APD Air Products & Chemicals Inc. | New | 1.16% | +1.16 |
| TPL Texas Pacific Land Corp. | New | 0.93% | +0.93 |
| MKL Markel Group Inc. | Add +1553.2% | 0.96% | +0.91 |
| SPSC SPS Commerce Inc. | New | 0.68% | +0.68 |
| IFF Intl Flavors & Fragrances | Add +0.4% | 3.25% | +0.63 |
| PANW Palo Alto Networks Inc. | Add +16.1% | 4.48% | +0.61 |
| RWT Redwood Trust Inc. | Add +32.5% | 0.54% | +0.19 |
| BE Bloom Energy Corp. Class A | New | 0.06% | +0.06 |
| SCHR Schwab Intermediate-Term US | Add +3.4% | 0.39% | +0.06 |
| SCHP Schwab U.S. Tips ETF | Add +2.7% | 0.38% | +0.06 |
| PFF iShares Preferred & Income S | Add +2.6% | 0.38% | +0.05 |
| AVTR Avantor Inc. | Add +99.8% | 0.09% | +0.03 |
| QXO Qxo Inc. | Add +1.1% | 0.04% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 0.03% | +0.00 |
| INTU Intuit Inc. | Add +17.4% | 2.65% | −0.37 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 66 | $868.7M | ARM, PANW, NVDA, AMZN, GOOGL |
| Q1 2026 | 71 | $728.3M | NVDA, ARM, FERG, AMZN, MSFT |
| Q4 2025 | 73 | $834.9M | NVDA, TLN, AMZN, MSFT, DHR |
| Q3 2025 | 71 | $836.6M | TLN, NVDA, MSFT, AMZN, FERG |
| Q2 2025 | 68 | $849.6M | MSFT, AMZN, NVDA, TLN, META |
| Q1 2025 | 65 | $743.3M | AMZN, TLN, MSFT, NVDA, DHR |
| Q4 2024 | 63 | $881.9M | AMZN, MSFT, TLN, NVDA, AER |
| Q3 2024 | 61 | $928.5M | MSFT, AMZN, TLN, NVDA, DHR |
| Q2 2024 | 51 | $862.0M | MSFT, AMZN, AER, NVDA, DHR |
| Q1 2024 | 47 | $898.2M | MSFT, AMZN, AER, FERG, DHR |