SEC 13F Intelligence

Managers / Q2 2025 · view latest →

TRAN CAPITAL MANAGEMENT, L.P.

CIK 0001009262 · 1000 4TH STREET, SUITE 800, SAN RAFAEL, CA, 94901 · 4154613800

Reported Value
$850M
Q2 2025
Positions
68
Filings on Record
30
2019–present window
Filed
Jul 14, 2025
original filing

Summary

Tran Capital Management, L.P. reported $850M in U.S.-listed holdings across 68 positions for Q2 2025.

Its largest position, MSFT, represents 7.8% of the portfolio.

Compared with Q1 2025, the fund opened 6 new positions and exited 3.

Portfolio Metrics

Turnover
+9.6%
vs prior filed quarter
Top-10 Concentration
+56.1%
share of reported value
Largest Position
+7.8%
Microsoft
New / Exited
6 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $576MQ4 ’18Q1 ’19: $590MQ2 ’19: $803MQ3 ’19: $809MQ4 ’19: $864MQ4 ’19Q1 ’20: $686MQ2 ’20: $864MQ3 ’20: $929MQ4 ’20: $1.1BQ4 ’20Q1 ’21: $1.1BQ2 ’21: $1.2BQ3 ’21: $1.2BQ4 ’21: $1.3BQ4 ’21Q1 ’22: $1.1BQ2 ’22: $875MQ3 ’22: $782MQ4 ’22: $791MQ4 ’22Q1 ’23: $802MQ2 ’23: $847MQ3 ’23: $777MQ4 ’23: $859MQ4 ’23Q1 ’24: $898MQ2 ’24: $862MQ3 ’24: $929MQ4 ’24: $882MQ4 ’24Q1 ’25: $743MQ2 ’25: $850MQ3 ’25: $837MQ4 ’25: $835MQ4 ’25Q1 ’26: $728Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.1%ADR: 3.6%Other: 1.5%ETP: 0.6%REIT: 0.2%
  • Common Stock · 94.1% · $799M
  • ADR · 3.6% · $31M
  • Other · 1.5% · $13M
  • ETP · 0.6% · $5M
  • REIT · 0.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ELVELEVANCE HEALTH INC COMNEW+36.8K36.8K+$14M$14M
COFCAPITAL ONE FINL CORPNEW+61.6K61.6K+$13M$13M
THCTENET HEALTHCARE CORP COM NEWNEW+35.4K35.4K+$6M$6M
LPLALPL FINL HLDGS INCNEW+2.6K2.6K+$957,673$957,673
MKLMARKEL GROUP INC COMNEW+271271+$541,285$541,285
JPMJ P MORGAN CHASE AND CONEW+801801+$232,331$232,331
FICOFAIR ISAAC CORPADDED+9.3K10.5K+$17M$19M
NFLXNETFLIX COM INCADDED+6.9K13.0K+$12M$17M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →CS7.76%$66M132.6K
2AMZNAMAZON COM INChistory →CS7.55%$64M292.3K
3NVDANVIDIA CORPhistory →CS7.13%$61M383.3K
4TLNTALEN ENERGY CORPhistory →CS6.97%$59M203.6K
5METAMETA PLATFORMS INC CL Ahistory →CS5.29%$45M60.9K
6FERGFERGUSON ENTERPRISES INC COMhistory →CS5.10%$43M199.2K
7PANWPALO ALTO NETWORKS INChistory →CS4.50%$38M186.9K
8DHRDANAHER CORP DELhistory →CS4.24%$36M182.2K
9INTUINTUIThistory →CS3.81%$32M41.1K
10MLMMARTIN MARIETTA MATLS INChistory →CS3.77%$32M58.3K
11GEVGE VERNOVA LLChistory →CS3.69%$31M59.2K
12TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →ADR3.60%$31M134.9K
13VEEVVEEVA SYS INChistory →CS3.24%$28M95.7K
14TMUST-MOBILE US INChistory →CS3.06%$26M109.1K
15CRMSALESFORCE INC COMhistory →CS2.96%$25M92.1K
16CSGPCOSTAR GROUP INChistory →CS2.71%$23M286.1K
17FICOFAIR ISAAC CORPhistory →CS2.26%$19M10.5K
18GTLBGITLAB INChistory →CS2.16%$18M406.3K
19GOOGLALPHABET INC CAP STK CL Ahistory →CS2.08%$18M100.3K
20NFLXNETFLIX COM INChistory →CS2.05%$17M13.0K
21SCHWSCHWAB CHARLES CORP NEWhistory →CS1.78%$15M165.5K
22ELVELEVANCE HEALTH INC COMhistory →CS1.69%$14M36.8K
23COFCAPITAL ONE FINL CORPhistory →CS1.54%$13M61.6K
24PGRPROGRESSIVE CORP OHIOhistory →CS1.39%$12M44.3K
25SHWSHERWIN WILLIAMS COhistory →CS1.29%$11M31.8K
26NKENIKE INChistory →CS1.07%$9M127.4K
27AERCAP HOLDINGS NVCS1.05%$9M76.3K
28EXPEEXPEDIA INC DELhistory →CS1.04%$9M52.5K
29APDAIR PRODS AND CHEMS INCCS0.96%$8M28.9K
30THCTENET HEALTHCARE CORP COM NEWCS0.73%$6M35.4K
31ACCENTURE PLC IRELAND SHS CLASCS0.42%$4M11.9K
32GGGGRACO INCCS0.24%$2M23.3K
33AAPLAPPLE INC COMCS0.22%$2M9.2K
34EXREXTRA SPACE STORAGE INCCS0.21%$2M11.9K
35KEYSKEYSIGHT TECHNOLOGIES INCCS0.16%$1M8.0K
36ADPAUTOMATIC DATA PROCESSING INCS0.14%$1M3.9K
37PAYXPAYCHEX INCCS0.14%$1M7.9K
38SPDR TR UNIT SER 1ETF0.13%$1M1.8K
39NTAPNETAPP INCCS0.13%$1M10.2K
40TSLATESLA MTRS INCCS0.12%$1M3.2K
41LPLALPL FINL HLDGS INCCS0.11%$957,6732.6K
42LHXL3HARRIS TECHNOLOGIES INC COMCS0.10%$885,9673.5K
43LLYLILLY ELI AND COCS0.10%$877,7511.1K
44AFLAFLAC INCCS0.10%$843,6808.0K
45TXNTEXAS INSTRS INCCS0.09%$783,9733.8K
46ENQENTEGRIS INCCS0.09%$744,4009.2K
47DISDISNEY WALT COCS0.08%$717,6465.8K
48ISHARES TR MSCI EMERG MKTETF0.08%$644,43813.4K
49CSCOCISCO SYS INCCS0.07%$589,7308.5K
50AMDADVANCED MICRO DEVICES INCCS0.06%$549,7213.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$728M71Apr 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$835M73Jan 20, 202613F-HRchanges · EDGAR ↗
Q3 2025$837M71Oct 23, 202513F-HRchanges · EDGAR ↗
Q2 2025$850M68Jul 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$743M65Apr 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$882M63Jan 21, 202513F-HRchanges · EDGAR ↗
Q3 2024$929M61Oct 15, 202413F-HRchanges · EDGAR ↗
Q2 2024$862M51Jul 17, 202413F-HRchanges · EDGAR ↗
Q1 2024$898M47Apr 19, 202413F-HRchanges · EDGAR ↗
Q4 2023$859M42Jan 17, 202413F-HRchanges · EDGAR ↗
Q3 2023$777M41Oct 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$847M40Jul 13, 202313F-HRchanges · EDGAR ↗
Q1 2023$802M39Apr 18, 202313F-HRchanges · EDGAR ↗
Q4 2022$791M40Feb 1, 202313F-HRchanges · EDGAR ↗
Q3 2022$782M36Oct 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$875M39Jul 27, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.1B54Apr 28, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.3B50Jan 25, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.2B46Oct 18, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.2B45Jul 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.1B46Apr 26, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.1B54Jan 26, 202113F-HRchanges · EDGAR ↗
Q3 2020$929M65Nov 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$864M63Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$686M63May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$864M67Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$809M59Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$803M61Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$590M35May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$576M42Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.