DOSSIER · 13F-HR · Q2 2026

Trinity Street Asset Management LLP

$1.9B in tracked AUM across 23 positions as of Q2 2026.

TS
CIK 0001592579 · last filed Jun 30, 2026
Total AUM
$1.9B
as of Q2 2026
Holdings
23
positions
Whale Score
80
80
strong
Activity
no data
changes this Q
AI Analysis · Q2 2026

Trinity Street Asset Management's $1.46B Q1 2026 13F is a high-conviction international and software-services portfolio where the top four positions account for 58% of the book. Taiwan Semiconductor leads at 20.9%, followed by Infosys (13.8%), Ryanair (13.7%), and HDFC Bank (13.2%). The manager added aggressively to Infosys (+45.5% shares) and HDFC Bank (+27.3% shares), launched a new $25.7M position in StandardAero aerospace, and exited CACI outright. Ryanair was trimmed 6.1% as the stock rallied, while Taiwan Semiconductor was reduced 6.9% in shares but increased in value due to price appreciation. ICON was the largest value loser despite a 12.7% share increase, as the stock declined sharply. The whaleScore of 74.75 reflects a concentrated active mandate across international markets, not U.S. mega-cap concentration.

Trinity Street's Q1 2026 13F is a 58%-in-four-names portfolio. Taiwan Semiconductor (20.9%), Infosys (13.8%), Ryanair (13.7%), and HDFC Bank (13.2%) dominate the file. Those four names span three geographies and three sectors: Taiwanese semiconductors, Indian IT services, European low-cost airlines, and Indian private banking. The common thread is that each is a best-in-class operator in a structurally growing market, and the manager is willing to hold them at weights that would make a traditional domestic-only risk model uncomfortable.

The Infosys and HDFC Bank Adds

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
TSM
TAIWAN SEMICONDUCTOR MFG LTD
$445M931K22.9%
02
G4705A100
ICON PLC
$267M1.5M13.7%
03
G8267P108
SMURFIT WESTROCK PLC
$243M5.3M12.5%
04
RYAAY
RYANAIR HOLDINGS PLC
$231M3.6M11.9%
05
HDB
HDFC BANK LTD
$168M6.5M8.6%
06
INFY
INFOSYS LTD
$137M13.1M7.1%
07
GOOGL
ALPHABET INC
$50M139K2.6%
08
AMZN
AMAZON COM INC
$35M147K1.8%
09
MSFT
MICROSOFT CORP
$34M90K1.7%
10
NUE
NUCOR CORP
$33M149K1.7%

Filing history

2026Q2Jun 30
$1.9B 33.2%
23 positionsView →
2026Q1Mar 31
$1.5B 8.4%
22 positionsView →
2025Q4Dec 31
$1.6B 8.5%
22 positionsView →
2025Q3Sep 30
$1.5B 0.7%
21 positionsView →
2025Q2Jun 30
$1.5B 47.5%
20 positionsLocked
2025Q1Mar 31
$988M 3.0%
16 positionsLocked
2024Q4Dec 31
$1.0B 1.6%
14 positionsLocked
2024Q3Sep 30
$1.0B 11.5%
15 positionsLocked
2024Q2Jun 30
$1.1B 9.4%
16 positionsLocked
2024Q1Mar 31
$1.3B 39.1%
18 positionsLocked
2023Q4Dec 31
$899M 15.5%
17 positionsLocked
2023Q3Sep 30
$778M 13.7%
22 positionsLocked
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