Trifast: a Smart Money turnaround

Source: Trifast
Last week, Alex took a look at How Smart Money Targets Turnarounds through the lens of stocks held by the Rockwood Strategic (LON:RKW) investment trust. I’d recommend taking a look if you haven’t already, as it’s full of interesting data-driven insights.
In this week’s Stock Pitch I’m going to follow up on this with a look at one of Rockwood’s larger holdings, Trifast (LON:TRI). The industrial fastenings group was a top 10 holding for Rockwood at the end of 2025, accounting for 4.4% of the trust’s net asset value.
Harwood Capital (Rockwood Strategic’s investment manager) is currently Trifast’s largest shareholder, at over 16%:

Coincidentally, Trifast’s second-largest shareholder is Slater Investments – another well-regarded UK active fund manager. I’ll be covering Slater Investments in more detail next week, so look out for that piece.
The Pitch
Trifast’s product portfolio contains more than 50,000 items, mostly small fastenings such as screws and bolts that are needed by the company’s industrial customers. It’s undeniably a cyclical business, but ultimately I think this is where the opportunity lies.