Portman Square Capital LLP
Portman Square Capital LLP is an alternative investment management firm headquartered in London, UK. Founded in 2011, the firm specializes in volatility trading across multiple asset classes and applies a discretionary global investing strategy to seek positive returns regardless of market conditions. With a team of over 30 professionals sharing more than 190 years of collective experience, Portman Square focuses on offering relative value and volatility-oriented investment products to institutional investors, family offices, and other sophisticated clients.
Investment Strategy
Portman Square Capital implements a collaborative, bottom-up approach to portfolio construction. The firm primarily seeks global value opportunities in derivative securities, aiming to package trades that balance carry and convexity. Portfolios are designed to deliver low single-digit returns in stable markets and double-digit returns during periods of market dislocation. Portman Square combines elements of tail protection and volatility relative value/arbitrage, using proprietary tools to screen for attractive long volatility trades and funding mechanisms. Each risk package undergoes stress testing with advanced risk models to manage downside risk and optimize overall portfolio allocation.
Top Holdings
Equity Positions (17)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
B BBIO | BRIDGEBIO PHARMA INC | 0.27% | $6.1M | 117,826 | $33.76 | $51.94 | -$171.1K |
W W | WAYFAIR INC | 0.25% | $5.5M | 62,056 | $41.81 | $89.33 | -$3.9M |
I ITRI | ITRON INC | 0.17% | $3.8M | 30,209 | $124.56 | $124.56 | +$3.8M |
L LCID | LUCID GROUP INC | 0.17% | $3.7M | 157,056 | $23.79 | $23.79 | +$3.7M |
B BL | BLACKLINE INC | 0.16% | $3.5M | 66,357 | $53.53 | $53.10 | +$3.1M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
N NEE | NEXTERA ENERGY INC | Sold | Put | $149.9M | 19,851 | $75.49 | $71.05 | -1,998 | -$1.8M |
K KKR | KKR & CO INC | Sold | Put | $122.9M | 9,457 | $129.95 | $122.14 | -4,350 | -$60.8M |
B BA | BOEING CO | Sold | Put | $89.6M | 4,150 | $215.83 | $184.23 | -2,425 | -$48.2M |
G GLD | SPDR GOLD TR | Bought | Call | $75.5M | 2,125 | $355.47 | $343.55 | +1,625 | +$60.3M |
H HYG | ISHARES TR | Sold | Put | $65.0M | 8,000 | $81.19 | $80.65 | -2,000 | -$15.7M |