In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 16, 2026), Trium Capital LLP reported 61 stock positions worth $137.7 million . Its top holding was AT&T (T) at 26.1% of the portfolio, followed by Sapiens International (SPNS, 9.4% ) and Sunopta (STKL, 6.8% ). Compared with Q4 2025, it opened 37 new positions, sold out of 21, added to 9 and reduced 15. The biggest buy was a new position in AT&T (T) and the biggest sale an exit from City Office REIT (CIO).
Location LONDON, X0
CIK 0001963860
Portfolio Value $137.7M (Q1 2026) Holdings 61 stocks · $137.7M 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 2025 T AT&T Inc. 893,000 $36.0M New SPNS Sapiens International Corp. 296,383 $12.9M New STKL Sunopta Inc. 1,438,474 $9.3M New HOLX Hologic Inc. 112,548 $8.5M New OS Onestream Inc. 272,803 $6.5M New EWZ iShares MSCI Brazil ETF 164,457 $6.3M New VNM Vaneck Vietnam ETF 272,158 $4.7M New ALMS Alumis Inc. 191,391 $4.2M Reduce -78.6% DM Desktop Metal Inc. Class A 764,361 $3.8M New QTRX Quanterix Corp. 994,217 $3.5M Add +21.6% FFWM First Foundation Inc. 442,850 $2.6M New ELME Elme Communities 1,193,618 $2.4M New ACI Albertsons Cos Inc. Class A 136,318 $2.3M Reduce -79.0% RSG Republic Services Inc. 10,049 $2.2M Add +2.5% WAB Wabtec Corp. 8,360 $2.1M Reduce -8.1% WM Waste Management Inc. 8,367 $1.9M Add +18.2% NVT Nvent Electric PLC 15,858 $1.9M Reduce -38.6% EXC Exelon Corp. 37,837 $1.9M Add +171.9% LIN Linde PLC 3,436 $1.7M Reduce -33.0% PEG Public Service Enterprise GP 19,645 $1.6M Add +159.0% CTVA Corteva Inc. 18,510 $1.5M Add +32.1% JCI Johnson Controls Internation 11,685 $1.5M New FERG Ferguson Enterprises Inc. 6,326 $1.5M New ONTF ON24 Inc. 176,589 $1.4M New OC Owens Corning 12,476 $1.4M Reduce -4.5% AYI Acuity Inc. 4,576 $1.3M Reduce -20.8% WTRG Essential Utilities Inc. 31,621 $1.3M New EMR Emerson Electric Co. 9,389 $1.2M New DAR Darling Ingredients Inc. 19,753 $1.2M Reduce -61.9% VLTO Veralto Corp. 13,620 $1.2M Reduce -24.6% PNR Pentair PLC 12,426 $1.1M Reduce -28.4% MTZ Mastec Inc. 3,162 $1.0M New WTS Watts Water Technologies-A 3,472 $1.0M Add +9.8% WY Weyerhaeuser Co. 39,423 $963K Add +9.9% GBX Greenbrier Companies Inc. 14,635 $771K Reduce -5.8% GRC Gorman-Rupp Co. 11,055 $687K New AIV Apartment Invt & Mgmt Co. Class A 161,593 $658K New SW Smurfit Westrock PLC 16,190 $645K Reduce -30.0% SHLS Shoals Technologies Group -A 74,797 $492K Reduce -31.3% SEE Sealed Air Corp. 9,322 $392K Add +140.9% ACHL Achilles Therapeutics PL-ADR 30,753 $46K New DVS Dolly Varden Silver Ltd. 12,787 $35K New IREN Iren Ltd. filed as IREN LIMITED 600 $21K New NXT Nextpower Inc. 12 $1K New BWLP BW LPG Ltd. 81 $1K New BKR Baker Hughes Co. 23 $1K New CMBT CMB Tech NV 103 $1K New EE Excelerate Energy Inc. Class A 36 $1K New FSLR First Solar Inc. 5 $986 Reduce -100.0% SNEX Stonex Group Inc. 10 $806 New BLD Topbuild Corp. 2 $703 Reduce -100.0% PANW Palo Alto Networks Inc. 4 $641 New CTGO Contango Silver & Gold Inc. 15 $281 New GNK Genco Shipping & Trading Ltd. 10 $226 New CDE Coeur Mining Inc. 4 $75 New DMC Del Monte Corp. filed as FRESH DEL MONTE PRODUCE INC 1 $40 New DCH Dauch Corporation 6 $36 New DSX Diana Shipping Inc. 10 $25 New AVO Mission Produce Inc. 1 $14 New SBT Sterling Bancorp Inc. 192,126 $0 New AVADEL PHARMACEUTICALS CVR (ALKERMES PLC merger) 1,292,985 $0 New
Options reported separately and not counted above: SPY puts ($3.4M), MSTR calls ($941K).
Portfolio Sells Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▲ CIO City Office REIT Inc. Sold out 0.00% −11.01 HOUS Anywhere Real Estate Inc. Sold out 0.00% −10.55 ACI Albertsons Cos Inc. Class A Reduce -79.0% 1.69% −6.96 ASHR Xtrackers Harvest Csi 300 CH Sold out 0.00% −6.75 EEM iShares MSCI Emerging Market Sold out 0.00% −5.52 EZA iShares MSCI South Africa Et Sold out 0.00% −5.11 KWEB Kranesh Csi China Internet Sold out 0.00% −4.31 ALMS Alumis Inc. Reduce -78.6% 3.06% −3.71 EWW iShares MSCI Mexico ETF Sold out 0.00% −3.68 FSLR First Solar Inc. Reduce -100.0% 0.00% −1.93 XYL Xylem Inc. Sold out 0.00% −1.84 BLD Topbuild Corp. Reduce -100.0% 0.00% −1.69 WCN Waste Connections Inc. Sold out 0.00% −1.55 EIDO iShares MSCI Indonesia ETF Sold out 0.00% −1.38 TT Trane Technologies PLC Sold out 0.00% −1.22 CWEN.A Clearway Energy Inc. Class A Sold out 0.00% −0.77 YMM Full Truck Alliance -SPN ADR Sold out 0.00% −0.71 AYI Acuity Inc. Reduce -20.8% 0.93% −0.69 NVT Nvent Electric PLC Reduce -38.6% 1.36% −0.69 CNM Core & Main Inc. Class A Sold out 0.00% −0.66 PNR Pentair PLC Reduce -28.4% 0.79% −0.62 DAR Darling Ingredients Inc. Reduce -61.9% 0.89% −0.56 TTEK Tetra Tech Inc. Sold out 0.00% −0.54 VLTO Veralto Corp. Reduce -24.6% 0.87% −0.53 PRIM Primoris Services Corp. Sold out 0.00% −0.48 LIN Linde PLC Reduce -33.0% 1.24% −0.46 BSY Bentley Systems Inc. Class B Sold out 0.00% −0.42 SHLS Shoals Technologies Group -A Reduce -31.3% 0.36% −0.36 SW Smurfit Westrock PLC Reduce -30.0% 0.47% −0.23 BHM Bluerock Homes Trust Inc. Sold out 0.00% −0.20 OC Owens Corning Reduce -4.5% 0.98% −0.16 GBX Greenbrier Companies Inc. Reduce -5.8% 0.56% −0.00 CRC California Resources Corp. Sold out 0.00% −0.00 HNI Hni Corp. Sold out 0.00% −0.00 CIVI Civitas Resources Inc. Sold out 0.00% 0.00 WAB Wabtec Corp. Reduce -8.1% 1.52% +0.01
Portfolio Buys Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▼ T AT&T Inc. New 26.13% +26.13 SPNS Sapiens International Corp. New 9.35% +9.35 STKL Sunopta Inc. New 6.77% +6.77 HOLX Hologic Inc. New 6.18% +6.18 OS Onestream Inc. New 4.75% +4.75 EWZ iShares MSCI Brazil ETF New 4.58% +4.58 VNM Vaneck Vietnam ETF New 3.42% +3.42 DM Desktop Metal Inc. Class A New 2.75% +2.75 FFWM First Foundation Inc. New 1.90% +1.90 ELME Elme Communities New 1.74% +1.74 JCI Johnson Controls Internation New 1.11% +1.11 FERG Ferguson Enterprises Inc. New 1.07% +1.07 ONTF ON24 Inc. New 1.04% +1.04 WTRG Essential Utilities Inc. New 0.92% +0.92 EMR Emerson Electric Co. New 0.89% +0.89 EXC Exelon Corp. Add +171.9% 1.35% +0.88 MTZ Mastec Inc. New 0.74% +0.74 PEG Public Service Enterprise GP Add +159.0% 1.15% +0.68 GRC Gorman-Rupp Co. New 0.50% +0.50 AIV Apartment Invt & Mgmt Co. Class A New 0.48% +0.48 CTVA Corteva Inc. Add +32.1% 1.13% +0.40 WM Waste Management Inc. Add +18.2% 1.40% +0.19 SEE Sealed Air Corp. Add +140.9% 0.28% +0.16 WTS Watts Water Technologies-A Add +9.8% 0.73% +0.05 WY Weyerhaeuser Co. Add +9.9% 0.70% +0.04 ACHL Achilles Therapeutics PL-ADR New 0.03% +0.03 DVS Dolly Varden Silver Ltd. New 0.03% +0.03 IREN Iren Ltd. New 0.01% +0.01 NXT Nextpower Inc. New 0.00% +0.00 BKR Baker Hughes Co. New 0.00% +0.00 BWLP BW LPG Ltd. New 0.00% +0.00 EE Excelerate Energy Inc. Class A New 0.00% +0.00 CMBT CMB Tech NV New 0.00% +0.00 SNEX Stonex Group Inc. New 0.00% +0.00 PANW Palo Alto Networks Inc. New 0.00% +0.00 CTGO Contango Silver & Gold Inc. New 0.00% +0.00 GNK Genco Shipping & Trading Ltd. New 0.00% +0.00 CDE Coeur Mining Inc. New 0.00% +0.00 DCH Dauch Corporation New 0.00% 0.00 AVO Mission Produce Inc. New 0.00% 0.00 SBT Sterling Bancorp Inc. New 0.00% 0.00 AVADEL PHARMACEUTICALS CVR (ALKERMES PLC merger) New 0.00% 0.00 DMC Del Monte Corp. New 0.00% 0.00 DSX Diana Shipping Inc. New 0.00% 0.00 RSG Republic Services Inc. Add +2.5% 1.60% −0.02 QTRX Quanterix Corp. Add +21.6% 2.54% −1.50
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +205.4% 984,600 $3.4M MSTR Strategy Inc. call New 285,200 $941K TSLA Tesla Inc. put Sold out 35,100 $40Kbefore exit KWEB Kranesh Csi China Internet call Sold out 711,200 $14Kbefore exit QCOM Qualcomm Inc. call Sold out 46,800 $6Kbefore exit KMB Kimberly-Clark Corp. call Sold out 3,900 $429before 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 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