DP
Darlington Partners Capital Management, LP — 13F Filing Insights
Darlington Partners Capital Management, LPCIK: 0001854440
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$2.2B
Reporting period: 2026-03-31 · Number of holdings: 10
DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP disclosed 10 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.2B and a quarterly turnover rate of 30.7%.
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Personality snowflake
- Concentration
- 46.03
- Portfolio Stability
- 30.73
- Momentum/Contrarian
- 100
- Sector conviction
- 100
- Diversification
- 20
- Sizing Uniformity
- 95.91
Darlington Partners Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.115 — mathematically equivalent to about 9 equally-sized positions, close to its 10 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.41), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 8.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 67% 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.
Recent moves
Add TPG
+82.6% $49.9M
Add FUN
+67.3% $74.7M
Add GLBE
+85.1% $67.0M
Add LINE
+72.5% $34.5M
Trim FOUR
+18.0% -$63.3M
Add TKO
0.0% -$9.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TPG | Tpg INC | Stock-Financials | 16.38% | +3.79% | +82.55% | |
| 2 | CRM | Salesforce INC | Stock-Tech | 13.10% | -0.17% | +24.76% | |
| 3 | FOUR | Shift4 Payments Inc-class A | Stock-Tech | 12.92% | -1.11% | +18.03% | |
| 4 | TKO | Tko Group Holdings INC | Stock-Comm Services | 12.23% | +0.94% | — | |
| 5 | LPLA | Lpl Financial Holdings INC | Stock-Financials | 12.07% | +0.88% | +14.05% | |
| 6 | GLBE | Global-E Online Ltd. | Stock-Other | 9.65% | +3.74% | +85.14% | |
| 7 | WMG | Warner Music Group Corp-cl A | Stock-Other | 8.67% | +0.51% | +13.53% | |
| 8 | FUN | Six Flags Entertainment CORP | Stock-Other | 6.94% | +3.75% | +67.31% | |
| 9 | LINE | Lineage INC | Stock-Other | 4.08% | +1.83% | +72.48% | |
| 10 | ACEL | Accel Entertainment INC | Stock-Other | 3.97% | +0.27% | — |
Portfolio Performance
Performance for Q3 2026
-1.5%
Performance Last 4 Quarters
-13.9%
Based on 61% of reported portfolio value with available pricing
- Stdev
- +15.3%
- Beta
- +0.82
- Alpha
- -8.5%
- Max Drawdown
- -19.2%
- Annualized Perf
- +5.6%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +0.71
- Stutzer
- +0.13
- Treynor
- +0.08
- Sterling
- +0.27
- Calmar
- +0.29
- Information Ratio
- -1.06
- Tracking Error
- +11.2%
- Stdev Down
- +9.3%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +37.5%
- Worst 12 Months
- -14.1%
- Efficiency Ratio
- +0.14
- Sharpe
- +0.43
- Stdev Sectors
- +10.7%
- Skewness
- +0.24
- Kurtosis
- -0.25
- Upside Potential
- +2.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 10 | $2.2B | 31 | |
| 2025-12-31 | 14 | $2.5B | 35 | |
| 2025-09-30 | 14 | $3.0B | 26 | |
| 2025-06-30 | 14 | $3.1B | 0 | |
| 2025-03-31 | 14 | $3.0B | 0 | |
| 2024-12-31 | 14 | $2.7B | 0 | |
| 2024-09-30 | 13 | $2.5B | 0 | |
| 2024-06-30 | 11 | $2.0B | 0 | |
| 2024-03-31 | 13 | $1.7B | 0 | |
| 2023-12-31 | 16 | $1.7B | 0 | |
| 2023-09-30 | 15 | $1.6B | 0 | |
| 2023-06-30 | 15 | $1.5B | 0 | |
| 2023-03-31 | 18 | $1.3B | 0 | |
| 2022-12-31 | 19 | $1.1B | 0 | |
| 2022-09-30 | 33 | $1.2B | 0 | |
| 2022-06-30 | 33 | $1.3B | 0 | |
| 2022-03-31 | 18 | $1.3B | 0 | |
| 2021-12-31 | 37 | $1.5B | 0 |
Holding changes this quarter
Darlington Partners Capital Management, LP's most significant position changes for 2026-03-31: Sold out: Cheniere Energy INC (LNG); Sold out: Liberty Media Corp-formula-c (FWONK); Sold out: Blackstone INC (BX); Sold out: Onestream INC (K4F); Add: Tpg INC (TPG) — shares +82.55%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TPG | Tpg INC | +3.8% | +82.55% | Add |
| 2 | FUN | Six Flags Entertainment CORP | +3.8% | +67.31% | Add |
| 3 | GLBE | Global-E Online Ltd. | +3.7% | +85.14% | Add |
| 4 | LINE | Lineage INC | +1.8% | +72.48% | Add |
| 5 | TKO | Tko Group Holdings INC | +0.9% | — | Unchanged |
| 6 | LPLA | Lpl Financial Holdings INC | +0.9% | +14.05% | Add |
| 7 | WMG | Warner Music Group Corp-cl A | +0.5% | +13.53% | Add |
| 8 | ACEL | Accel Entertainment INC | +0.3% | — | Unchanged |
| 9 | CRM | Salesforce INC | -0.2% | +24.76% | Add |
| 10 | FOUR | Shift4 Payments Inc-class A | -1.1% | +18.03% | Add |
| 11 | LNG | Cheniere Energy INC | — | EXIT | Sold out |
| 12 | FWONK | Liberty Media Corp-formula-c | — | EXIT | Sold out |
| 13 | BX | Blackstone INC | — | EXIT | Sold out |
| 14 | K4F | Onestream INC | — | EXIT | Sold out |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-06-26 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
FAQ
What is Darlington Partners Capital Management, LP and what type of investor is it?
Darlington Partners Capital Management, 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 (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $2.2B, spread across 10 disclosed positions.
What are Darlington Partners Capital Management, LP's largest equity positions?
Based on the latest 13F filing, Darlington Partners Capital Management, LP's top holdings by market value are:
1. Tpg INC (TPG) — $364.6M (16.4%)
2. Salesforce INC (CRM) — $291.6M (13.1%)
3. Shift4 Payments Inc-class A (FOUR) — $287.6M (12.9%)
4. Tko Group Holdings INC (TKO) — $272.3M (12.2%)
5. Lpl Financial Holdings INC (LPLA) — $268.6M (12.1%)
What changes did Darlington Partners Capital Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Darlington Partners Capital Management, LP made 12 notable position adjustments: 0 new positions were initiated, 8 existing holdings were added to, 0 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Cheniere Energy INC (LNG); Sold out: Liberty Media Corp-formula-c (FWONK); Sold out: Blackstone INC (BX); Sold out: Onestream INC (K4F); Add: Tpg INC (TPG) — shares +82.55%
What sectors does Darlington Partners Capital Management, LP focus on?
Darlington Partners Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 42.6%
• Information Technology: 39.0%
• Communication Services: 18.3%
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