In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Trium Capital LLP reported 53 stock positions worth $401.6 million . Its top holding was iShares MSCI Canada ETF (EWC) at 17.9% of the portfolio, followed by Springworks Therapeutics (SWTX, 9.2% ) and Albertsons Cos Class A (ACI, 8.0% ). Compared with Q1 2025, it opened 25 new positions, sold out of 22, added to 14 and reduced 14. The biggest buy was a new position in iShares MSCI Canada ETF (EWC) and the biggest sale an exit from Paragon 28 (FNA).
Location LONDON, X0
CIK 0001963860
Portfolio Value $401.6M (Q2 2025) Holdings 53 stocks · $401.6M 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 Q1 2025 EWC iShares MSCI Canada ETF 1,552,508 $71.7M New SWTX Springworks Therapeutics Inc. 787,459 $37.0M New ACI Albertsons Cos Inc. Class A 1,494,308 $32.1M Add +0.6% BPMC Blueprint Medicines Corp. 240,099 $30.8M New KWEB Kranesh Csi China Internet 879,504 $30.2M Add +7.1% EWZ iShares MSCI Brazil ETF 973,211 $28.1M New EWY iShares MSCI South Korea ETF 374,732 $26.9M New AGS Playags Inc. 1,864,241 $23.3M New ANSS Ansys Inc. 41,479 $14.6M New VNM Vaneck Vietnam ETF 989,128 $13.6M Add +0.9% INZY Inozyme Pharma Inc. 3,173,454 $12.7M New FXI iShares China Large-Cap ETF 230,950 $8.5M Add +0.6% RDFN Redfin Corp. 734,608 $8.2M New EWW iShares MSCI Mexico ETF 133,373 $8.1M New ALMS Alumis Inc. 2,648,039 $7.9M New CHX Championx Corp. 315,987 $7.8M New QTRX Quanterix Corp. 586,425 $3.9M Add +4.8% EQX Equinox Gold Corp. 655,897 $3.8M New NVEE NV5 Global Inc. 162,684 $3.8M New SATX Satixfy Communications Ltd. 809,282 $2.4M New ICAD Icad Inc. 559,147 $2.1M New THD iShares MSCI Thailand ETF 41,582 $2.1M Reduce -1.4% WAB Wabtec Corp. 8,402 $1.8M Reduce -13.5% NVT Nvent Electric PLC 19,391 $1.4M Add +4.5% OC Owens Corning 10,148 $1.4M Add +0.7% WM Waste Management Inc. 6,030 $1.4M Reduce -24.8% TT Trane Technologies PLC 2,927 $1.3M Reduce -41.1% LIN Linde PLC 2,613 $1.2M Reduce -15.2% VLTO Veralto Corp. 10,734 $1.1M Add +11.6% AYI Acuity Inc. 3,553 $1.1M Add +61.1% XYL Xylem Inc. 7,776 $1.0M New RSG Republic Services Inc. 4,076 $1.0M Reduce -20.0% WCN Waste Connections Inc. 5,382 $1.0M Add +6.8% BLD Topbuild Corp. 2,732 $884K Reduce -24.1% AKYA Akoya Biosciences Inc. 605,496 $787K New HLVX Hillevax Inc. 395,188 $786K Add +4.5% ITRI Itron Inc. 4,712 $620K Add +34.4% EMR Emerson Electric Co. 4,644 $619K New NEE Nextera Energy Inc. 8,897 $618K Reduce -53.0% CNH CNH Industrial NV 38,664 $501K New WY Weyerhaeuser Co. 19,434 $499K Add +113.3% WMS Advanced Drainage Systems Inc. 4,004 $460K Reduce -18.2% CWEN.A Clearway Energy Inc. Class A 13,649 $413K New BHM Bluerock Homes Trust Inc. 27,377 $343K Add +15.7% TTEK Tetra Tech Inc. 9,484 $341K New GEV GE Vernova Inc. 626 $331K Reduce -57.4% ENS Enersys 3,397 $291K Reduce -12.3% BSY Bentley Systems Inc. Class B 5,133 $277K Reduce -53.0% FSLR First Solar Inc. 1,250 $207K Reduce -80.0% NXT Nextpower Inc. filed as NEXTRACKER INC 3,763 $205K Reduce -52.8% GBX Greenbrier Companies Inc. 3,552 $164K New ESSA Essa Bancorp Inc. 20 $388 New GNTY Guaranty Bancshares Inc. 1 $42 New
Options reported separately and not counted above: SPY puts ($291K), XLI puts ($98K), NVDA puts ($2K).
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ FNA Paragon 28 Inc. Sold out 0.00% −14.82 ENFN Enfusion Inc. Class A Sold out 0.00% −7.88 PYCR Paycor HCM Inc. Sold out 0.00% −7.39 SWI Solarwinds Corp. Sold out 0.00% −7.27 ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −5.47 DM Desktop Metal Inc. Class A Sold out 0.00% −3.30 AZN Astrazeneca PLC-Spons ADR Sold out 0.00% −3.06 CMRX Chimerix Inc. Sold out 0.00% −1.88 NVRO Nevro LLC Sold out 0.00% −1.85 MKFG Markforged Holding Corp. Sold out 0.00% −0.77 AMPS Altus Power Inc. Sold out 0.00% −0.61 LGTY Logility Supply Chain Soluti Sold out 0.00% −0.57 WM Waste Management Inc. Reduce -24.8% 0.34% −0.41 NEE Nextera Energy Inc. Reduce -53.0% 0.15% −0.39 SBT Sterling Bancorp Inc. Sold out 0.00% −0.38 THD iShares MSCI Thailand ETF Reduce -1.4% 0.52% −0.37 TT Trane Technologies PLC Reduce -41.1% 0.32% −0.36 SBS Cia Saneamento Basico DE-ADR Sold out 0.00% −0.31 ELP Companhia Paranaense DE Ener Sold out 0.00% −0.28 WAB Wabtec Corp. Reduce -13.5% 0.44% −0.28 LIN Linde PLC Reduce -15.2% 0.31% −0.28 FSLR First Solar Inc. Reduce -80.0% 0.05% −0.27 RSG Republic Services Inc. Reduce -20.0% 0.25% −0.25 BITF Bitfarms Ltd./Canada Sold out 0.00% −0.25 BLD Topbuild Corp. Reduce -24.1% 0.22% −0.23 DAR Darling Ingredients Inc. Sold out 0.00% −0.22 BSY Bentley Systems Inc. Class B Reduce -53.0% 0.07% −0.11 CDLR Cadeler A/S-ADR Sold out 0.00% −0.10 WMS Advanced Drainage Systems Inc. Reduce -18.2% 0.11% −0.10 GEV GE Vernova Inc. Reduce -57.4% 0.08% −0.10 NXT Nextpower Inc. Reduce -52.8% 0.05% −0.09 ENS Enersys Reduce -12.3% 0.07% −0.07 VBFC Village Bank and Trust Finan Sold out 0.00% −0.03 CDE Coeur Mining Inc. Sold out 0.00% 0.00 BUSE First Busey Corp. Sold out 0.00% 0.00 VTS Vitesse Energy Inc. Sold out 0.00% 0.00
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ EWC iShares MSCI Canada ETF New 17.86% +17.86 SWTX Springworks Therapeutics Inc. New 9.21% +9.21 BPMC Blueprint Medicines Corp. New 7.66% +7.66 EWZ iShares MSCI Brazil ETF New 6.99% +6.99 EWY iShares MSCI South Korea ETF New 6.70% +6.70 AGS Playags Inc. New 5.80% +5.80 ANSS Ansys Inc. New 3.63% +3.63 INZY Inozyme Pharma Inc. New 3.16% +3.16 RDFN Redfin Corp. New 2.05% +2.05 EWW iShares MSCI Mexico ETF New 2.01% +2.01 ALMS Alumis Inc. New 1.98% +1.98 CHX Championx Corp. New 1.95% +1.95 EQX Equinox Gold Corp. New 0.94% +0.94 NVEE NV5 Global Inc. New 0.94% +0.94 SATX Satixfy Communications Ltd. New 0.59% +0.59 ICAD Icad Inc. New 0.53% +0.53 XYL Xylem Inc. New 0.25% +0.25 AKYA Akoya Biosciences Inc. New 0.20% +0.20 EMR Emerson Electric Co. New 0.15% +0.15 CNH CNH Industrial NV New 0.12% +0.12 CWEN.A Clearway Energy Inc. Class A New 0.10% +0.10 TTEK Tetra Tech Inc. New 0.08% +0.08 GBX Greenbrier Companies Inc. New 0.04% +0.04 AYI Acuity Inc. Add +61.1% 0.26% +0.03 WY Weyerhaeuser Co. Add +113.3% 0.12% +0.02 ITRI Itron Inc. Add +34.4% 0.15% +0.01 ESSA Essa Bancorp Inc. New 0.00% +0.00 GNTY Guaranty Bancshares Inc. New 0.00% 0.00 BHM Bluerock Homes Trust Inc. Add +15.7% 0.09% −0.02 HLVX Hillevax Inc. Add +4.5% 0.20% −0.03 NVT Nvent Electric PLC Add +4.5% 0.35% −0.04 VLTO Veralto Corp. Add +11.6% 0.27% −0.11 WCN Waste Connections Inc. Add +6.8% 0.25% −0.15 OC Owens Corning Add +0.7% 0.35% −0.24 QTRX Quanterix Corp. Add +4.8% 0.97% −0.51 FXI iShares China Large-Cap ETF Add +0.6% 2.11% −1.23 VNM Vaneck Vietnam ETF Add +0.9% 3.39% −1.58 KWEB Kranesh Csi China Internet Add +7.1% 7.52% −4.12 ACI Albertsons Cos Inc. Class A Add +0.6% 8.00% −5.26
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ CWAN Clearwater Analytics HDS-A put Sold out 375,300 $10.1Mbefore exit DM Desktop Metal Inc. Class A call Sold out 83,600 $410Kbefore exit SPY SS SPDR S&P 500 ETF Trust-US put Reduce -28.0% 667,200 $291K
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 50 $158.7M T, ESPR, ALMS, SPNS, ELME Q1 2026 61 $137.7M T, SPNS, STKL, HOLX, OS Q4 2025 45 $128.7M CIO, HOUS, ACI, ALMS, ASHR Q3 2025 48 $254.9M COOP, ASHR, KWEB, ACI, EWW Q2 2025 53 $401.6M EWC, SWTX, ACI, BPMC, KWEB Q1 2025 50 $246.3M FNA, ACI, KWEB, ENFN, PYCR Q4 2024 34 $130.3M ACI, ARCH, EWY, KWEB, VNM Q3 2024 60 $217.7M KWEB, FXI, VNM, PRFT, SWN Q2 2024 88 $281.9M KWEB, FXI, OLK, SLCA, VNM Q1 2024 69 $266.6M KWEB, NGMS, PXD, FXI, KAMN