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DPCM
Darlington Partners Capital Management Portfolio holdings
AUM
$2.23B
1-Year Est. Return
16.2%
This Fund
S&P 500
This Quarter
Est. Return
-1.09%
1 Year Est. Return
-16.2%
3 Year Est. Return
+19.37%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.5B
AUM Growth
-$463M
(-16%)
Cap. Flow
-$345M
Cap. Flow
% of AUM
-13.81%
Top 10 Holdings %
Top 10 Hldgs %
88.04%
Holding
15
New
1
Increased
1
Reduced
5
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global E Online
GLBE
|
+$139M |
| 2 |
Shift4
FOUR
|
+$35.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Warner Music
WMG
|
+$163M |
| 2 |
MLNK
MeridianLink
MLNK
|
+$131M |
| 3 |
LINE
Lineage Inc
LINE
|
+$130M |
| 4 |
Cedar Fair
FUN
|
+$63.3M |
| 5 |
Liberty Media Series C
FWONK
|
+$31.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.12% |
| 2 | Financials | 27.47% |
| 3 | Communication Services | 23.23% |
| 4 | Consumer Discretionary | 12.8% |
| 5 | Energy | 4.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Shift4
FOUR
$4.1B
| $351M | 14.03% |
5,571,725
+500,000
| +10% | +$35.3M |
|
2
Salesforce
CRM
$149B
| $332M | 13.27% |
1,251,852
| – | – |
|
3
TPG
TPG
$6.85B
| $315M | 12.59% |
4,930,047
| – | – |
|
4
TKO Group
TKO
$13.6B
| $282M | 11.29% |
1,350,367
| – | – |
|
5
LPL Financial
LPLA
$28.3B
| $280M | 11.19% |
783,006
-2,731
| -0.3% | -$966K |
|
|
6
Warner Music
WMG
$13.6B
| $204M | 8.16% |
6,651,884
-5,343,396
| -45% | -$163M |
|
|
7
Global E Online
GLBE
$6.6B
| $148M | 5.91% |
+3,760,279
| New | +$139M |
|
8
Cheniere Energy
LNG
$55.1B
| $103M | 4.13% |
530,815
| – | – |
|
|
9
Liberty Media Series C
FWONK
$24.5B
| $94.5M | 3.78% |
959,329
-320,000
| -25% | -$31.4M |
|
10
Accel Entertainment
ACEL
$969M
| $92.4M | 3.7% |
8,098,349
| – | – |
|
11
Blackstone
BX
$102B
| $92.4M | 3.69% |
599,227
| – | – |
|
|
12
Cedar Fair
FUN
$1.78B
| $79.8M | 3.19% |
5,200,000
-3,500,000
| -40% | -$63.3M |
|
|
OS
13
DELISTED
OneStream Inc
OS
| $70.6M | 2.82% |
3,839,405
| – | – |
|
|
LINE
14
Lineage Inc
LINE
$9.62B
| $56.2M | 2.25% |
1,605,810
-3,527,000
| -69% | -$130M |
|
|
MLNK
15
DELISTED
MeridianLink
MLNK
| – | – |
-6,558,899
| Closed | -$131M |
|
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Darlington Partners Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Darlington Partners Capital Management held 15 positions worth $2.5B, down 16% from $2.96B the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Darlington Partners Capital Management withdrew a net $345M in Q4 2025, closing 1 position and reducing 5 holdings. Its most notable exit was MeridianLink, an estimated $131M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 30% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Darlington Partners Capital Management opened a new position in Global E Online worth $148M.
- Darlington Partners Capital Management's largest Q4 2025 buy was Global E Online: 3,760,279 shares worth $148M.
- Darlington Partners Capital Management added most to Shift4 in Q4 2025, an estimated $35.3M increase.
- Darlington Partners Capital Management's biggest Q4 2025 reduction was Warner Music, cutting an estimated $163M.
- Darlington Partners Capital Management fully exited MeridianLink in Q4 2025, selling an estimated $131M.
- Darlington Partners Capital Management's ten largest holdings make up 88% of its $2.5B portfolio in Q4 2025.
- Darlington Partners Capital Management opened 1 new position and closed 1 in Q4 2025.
- Darlington Partners Capital Management's portfolio value fell 16% quarter-over-quarter to $2.5B.
Based on Darlington Partners Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.