DC
Darsana Capital Partners LP 13F Portfolio Snapshot & Holdings (Q2 2026)
Darsana Capital Partners LPCIK: 0001609098
High-turnover traderConcentrated strategyContrarian
Total reported value
$22.3B
Reporting period: 2026-06-30 · Number of holdings: 16
Darsana Capital Partners LP disclosed 16 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $22.3B and a quarterly turnover rate of 143.9%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 73.66
- Diversification
- 32
- Sizing Uniformity
- 69.43
Darsana Capital Partners LP's disclosed holdings carry a Herfindahl concentration index of 0.610 — mathematically equivalent to about 2 equally-sized positions, well below its 16 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.06), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 20.7 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 18% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 84615Q103
Trim ECHO
-28.6% -$312.0M
Trim GWRE
-4.9% -$130.2M
Trim NYT
-0.8% -$72.0M
Trim FWONK
0.0% $43.5M
Trim SHC
+3.8% $106.4M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Darsana Capital reset the book this quarter. It opened a single position (CUSIP 84615Q103) at roughly 77.85% of declared weights, slashed former top holdings ECHO (17.45%→2.28%) and GWRE (12.74%→2.10%), cut VRT from 5.34% to 0.37%, and exited SGI. Smaller new stakes in AMZN and META were added, while SHC was reported as an add yet its weight fell from 7.94% to 2.15%, suggesting the share increase was overwhelmed by the much larger new position and/or price moves. The result is a highly concentrated, high-turnover portfolio with a clear contrarian tilt.
Macro & Fundamentals
On the observable sector data, Communication Services (35.4%) and Consumer Discretionary (29.5%) now dominate roughly two-thirds of the portfolio, with IT and Health Care at roughly 11–12% each. Pairing the small AMZN/META additions with the trims in mid-cap software/industrial names points, on the surface, to a rotation toward liquid mega-cap digital/consumer platforms; however, this is an inference from limited data, not a confirmed causal story. The negative momentum tilt (−20.7 percentage points) is also consistent with a contrarian/value posture.
Blind Spots / Risks
The dominant blind spot is the 77.85% new position displayed only as a CUSIP; without issuer or sector mapping, the concentration metrics cannot fully capture how dependent this portfolio is on a single, potentially illiquid or special-situation asset. The low mapped-value ratio (18.2%) further limits the reliability of any sector-based risk decomposition, so the apparent clarity of the HHI and sector weights is partly an artifact of incomplete data.
Generated by AI directly from this institution's Form 13F disclosures on SEC EDGAR. Reflects historical positioning only and should not be treated as investment advice — the original filing is linked below for verification. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Stock-Other | 77.85% | +77.85% | NEW | ||
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.68% | +2.68% | NEW | |
| 3 | ECHO | Echostar Corp-a | Stock-Comm Services | 2.28% | -15.17% | -28.57% | |
| 4 | SHC | Sotera Health Co | Stock-Other | 2.15% | -5.79% | +3.85% | |
| 5 | GWRE | Guidewire Software Inc | Stock-Tech | 2.10% | -10.64% | -4.90% | |
| 6 | HCA | Hca Healthcare Inc | Stock-Healthcare | 1.93% | -5.63% | +46.67% | |
| 7 | FWONK | Liberty Media Corp-formula-c | Stock-Comm Services | 1.84% | -5.94% | — | |
| 8 | NYT | New York Times Co-a | Stock-Comm Services | 1.57% | -7.41% | -0.77% | |
| 9 | DKS | Dick's Sporting Goods Inc | Stock-Consumer Disc | 1.53% | -4.27% | +9.09% | |
| 10 | WMG | Warner Music Group Corp-cl A | Stock-Other | 1.45% | -4.99% | +0.79% | |
| 11 | WING | Wingstop Inc | Stock-Consumer Disc | 1.17% | -2.95% | +20.00% | |
| 12 | EFX | Equifax Inc | Stock-Industrials | 1.07% | -4.68% | — | |
| 13 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.93% | -3.57% | — | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.76% | +0.76% | NEW | |
| 15 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.37% | -4.97% | -75.51% | |
| 16 | FWONA | Liberty Media Corp-formula-a | Stock-Other | 0.33% | -1.08% | — |
Portfolio Performance
Performance for Q3 2026
-2.8%
Performance Last 4 Quarters
+5.2%
- Stdev
- +17.3%
- Beta
- +0.92
- Alpha
- +4.8%
- Max Drawdown
- -11.3%
- Annualized Perf
- +24.2%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.87
- Stutzer
- +0.4
- Treynor
- +0.25
- Sterling
- +1.3
- Calmar
- +2.14
- Information Ratio
- +0.26
- Tracking Error
- +12.5%
- Stdev Down
- +8.1%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +55.2%
- Worst 12 Months
- +5.2%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.35
- Stdev Sectors
- +11.5%
- Skewness
- +0.25
- Kurtosis
- -0.15
- Upside Potential
- +4.62
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 16 | $22.3B | 100 | ||
| 2026 Q1 | 14 | $4.7B | 25 | ||
| 2025 Q4 | 16 | $5.0B | 22 | ||
| 2025 Q3 | 14 | $4.2B | 29 | ||
| 2025 Q2 | 14 | $3.5B | 0 | ||
| 2025 Q1 | 14 | $3.4B | 100 | ||
| 2024 Q4 | 14 | $3.3B | 0 | ||
| 2024 Q3 | 15 | $4.1B | 0 | ||
| 2024 Q2 | 14 | $3.7B | 0 | ||
| 2024 Q1 | 13 | $3.1B | 0 | ||
| 2023 Q4 | 11 | $2.8B | 0 | ||
| 2023 Q3 | 10 | $2.0B | 0 | ||
| 2023 Q2 | 9 | $1.6B | 0 | ||
| 2023 Q1 | 12 | $1.5B | 0 | ||
| 2022 Q4 | 11 | $1.5B | 0 | ||
| 2022 Q3 | 12 | $1.9B | 0 | ||
| 2022 Q2 | 12 | $1.9B | 0 | ||
| 2022 Q1 | 11 | $2.0B | 0 | ||
| 2021 Q4 | 13 | $2.2B | 0 | ||
| 2021 Q3 | 15 | $3.0B | 0 | ||
| 2021 Q2 | 18 | $3.5B | 100 | ||
| 2021 Q1 | 18 | $3.6B | 54 | ||
| 2020 Q4 | 14 | $3.5B | 61 | ||
| 2020 Q3 | 12 | $2.0B | 36 | ||
| 2020 Q2 | 12 | $1.7B | 70 | ||
| 2020 Q1 | 13 | $2.1B | 57 | ||
| 2019 Q4 | 13 | $2.9B | 30 | ||
| 2019 Q3 | 14 | $2.7B | 28 | ||
| 2019 Q2 | 15 | $3.1B | 25 | ||
| 2019 Q1 | 11 | $2.7B | 15 | ||
| 2018 Q4 | 12 | $2.4B | 43 | ||
| 2018 Q3 | 16 | $3.2B | 35 | ||
| 2018 Q2 | 15 | $3.2B | 39 | ||
| 2018 Q1 | 16 | $3.1B | 35 | ||
| 2017 Q4 | 16 | $2.7B | 28 | ||
| 2017 Q3 | 17 | $2.4B | 62 | ||
| 2017 Q2 | 15 | $2.3B | 42 | ||
| 2017 Q1 | 14 | $2.0B | 55 | ||
| 2016 Q4 | 20 | $2.1B | 44 | ||
| 2016 Q3 | 19 | $2.0B | 40 | ||
| 2016 Q2 | 18 | $1.9B | 34 | ||
| 2016 Q1 | 19 | $2.3B | 59 | ||
| 2015 Q4 | 14 | $1.6B | 22 | ||
| 2015 Q3 | 16 | $1.7B | 38 | ||
| 2015 Q2 | 22 | $2.0B | 56 | ||
| 2015 Q1 | 21 | $2.2B | 23 | ||
| 2014 Q4 | 24 | $2.2B | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Darsana Capital Partners LP's most significant position changes for 2026-06-30: New buy: ; New buy: Amazon.com Inc (AMZN); Sold out: Somnigroup International Inc (SGI); New buy: Meta Platforms Inc-class A (META); Trim: Echostar Corp-a (ECHO) — shares -28.57%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +77.9% | NEW | New buy | |
| 2 | AMZN | Amazon.com Inc | +2.7% | NEW | New buy |
| 3 | META | Meta Platforms Inc-class A | +0.8% | NEW | New buy |
| 4 | FWONA | Liberty Media Corp-formula-a | -1.1% | — | Unchanged |
| 5 | WING | Wingstop Inc | -3% | +20.00% | Add |
| 6 | SCHW | Schwab (charles) CORP | -3.6% | — | Unchanged |
| 7 | SGI | Somnigroup International Inc | -4.2% | EXIT | Sold out |
| 8 | DKS | Dick's Sporting Goods Inc | -4.3% | +9.09% | Add |
| 9 | EFX | Equifax Inc | -4.7% | — | Unchanged |
| 10 | VRT | Vertiv Holdings Co-a | -5% | -75.51% | Trim |
| 11 | WMG | Warner Music Group Corp-cl A | -5% | +0.79% | Add |
| 12 | HCA | Hca Healthcare Inc | -5.6% | +46.67% | Add |
| 13 | SHC | Sotera Health Co | -5.8% | +3.85% | Add |
| 14 | FWONK | Liberty Media Corp-formula-c | -5.9% | — | Unchanged |
| 15 | NYT | New York Times Co-a | -7.4% | -0.77% | Trim |
| 16 | GWRE | Guidewire Software Inc | -10.6% | -4.90% | Trim |
| 17 | ECHO | Echostar Corp-a | -15.2% | -28.57% | Trim |
Filing History
FAQ
What is Darsana Capital Partners LP and what type of investor is it?
Darsana Capital Partners LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $22.3B, spread across 16 disclosed positions.
What are Darsana Capital Partners LP's largest equity positions?
Based on the latest 13F filing, Darsana Capital Partners LP's top holdings by market value are:
1. — $17.3B (77.8%)
2. Amazon.com Inc (AMZN) — $595.9M (2.7%)
3. Echostar Corp-a (ECHO) — $507.5M (2.3%)
4. Sotera Health Co (SHC) — $479.3M (2.1%)
5. Guidewire Software Inc (GWRE) — $468.1M (2.1%)
What changes did Darsana Capital Partners LP make in its most recent portfolio filing?
In the latest reported quarter, Darsana Capital Partners LP made 13 notable position adjustments: 3 new positions were initiated, 5 existing holdings were added to, 4 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: ; New buy: Amazon.com Inc (AMZN); Sold out: Somnigroup International Inc (SGI); New buy: Meta Platforms Inc-class A (META); Trim: Echostar Corp-a (ECHO) — shares -28.57%
What sectors does Darsana Capital Partners LP focus on?
Darsana Capital Partners LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 35.4%
• Consumer Discretionary: 29.5%
• Information Technology: 11.5%
• Health Care: 10.6%
• Industrials: 7.9%
• Financials: 5.1%
Investment Profile
Darsana Capital Partners LP returned an annualized 24.2% over the trailing 36 months — outperforming the S&P 500 by 4.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.92 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 35.4% of the portfolio concentrated in Communication Services.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has added to its DKS position over the past two quarters (+$241.2M, now $340.2M), while trimming NYT over the same stretch (-$181.8M, still holding $349.9M).
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Developer Access
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