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DCP

Diameter Capital Partners Portfolio holdings

AUM $1.07B
1-Year Est. Return 152.29%
This Fund
S&P 500
This Quarter Est. Return
+17.91%
1 Year Est. Return
+152.29%
3 Year Est. Return
+414.88%
5 Year Est. Return
+403.74%
10 Year Est. Return
–
AUM
$1.09B
AUM Growth
-$528M
Cap. Flow
-$722M
Cap. Flow %
-66.01%
Top 10 Hldgs %
71.1%
Holding
67
New
23
Increased
10
Reduced
2
Closed
27

Top Buys

Rank Stock Value
1
FSK icon
FS KKR Capital
FSK
+$34.4M
2
CZR icon
Caesars Entertainment
CZR
+$19.1M
3
NCDL icon
Nuveen Churchill Direct Lending
NCDL
+$17.3M
4
DBRG icon
DigitalBridge
DBRG
+$15M
5
JHX icon
James Hardie Industries
JHX
+$12M

Top Sells

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$179M
2
WBD icon
Warner Bros
WBD
+$43.9M
3
NVRI icon
Enviri
NVRI
+$31.2M
4
OXY icon
Occidental Petroleum
OXY
+$21.3M
5
LUMN icon
Lumen
LUMN
+$20.2M

Sector Composition

Rank Sector Weight
1 Communication Services 41.91%
2 Consumer Discretionary 11.09%
3 Financials 9.75%
4 Utilities 6.03%
5 Real Estate 4.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLRC icon
26
SLR Investment Corp
SLRC
$714M
$6.11M 0.56%
+395,389
New +$6.03M
WOLF icon
27
Wolfspeed
WOLF
$1.05B
$6.05M 0.55%
+347,427
New +$7.97M
OPTU
28
Optimum Communications Inc
OPTU
$294M
$5.26M 0.48%
3,188,947
-6,581,213
-67% -$13.4M
ULS icon
29
UL Solutions
ULS
$18.3B
$3.94M 0.36%
+50,000
New +$4.01M
MERC icon
30
Mercer International
MERC
$43.8M
$2.18M 0.2%
+1,100,397
New +$2.32M
LLY icon
31
Eli Lilly
LLY
$1.1T
$1.45M 0.13%
+1,350
New +$1.29M
MRK icon
32
Merck
MRK
$326B
$1.45M 0.13%
+13,750
New +$1.29M
NVS icon
33
Novartis
NVS
$302B
$1.43M 0.13%
+10,400
New +$1.36M
AZN icon
34
AstraZeneca
AZN
$271B
$1.38M 0.13%
+7,500
New +$1.32M
SNY icon
35
Sanofi
SNY
$109B
$1.36M 0.12%
+28,000
New +$1.39M
PFE icon
36
Pfizer
PFE
$144B
$1.32M 0.12%
+53,000
New +$1.34M
AL
37
DELISTED
Air Lease Corp
AL
– –
-300,000
Closed -$19.1M
FRMM
38
Forum Markets
FRMM
$70.8M
– –
-390,329
Closed -$9.41M
BKNG icon
39
PUT
Booking.com
BKNG
$156B
– –
-82,500
Closed -$17.8M
BLCO icon
40
Bausch + Lomb
BLCO
$5.95B
– –
-1,215,893
Closed -$18.3M
CIEN icon
41
Ciena
CIEN
$46.6B
– –
-62,000
Closed -$9.03M
CLF icon
42
CALL
Cleveland-Cliffs
CLF
$6.39B
– –
-2,500,000
Closed -$30.5M
DG icon
43
PUT
Dollar General
DG
$28.2B
– –
-211,800
Closed -$21.9M
DLTR icon
44
PUT
Dollar Tree
DLTR
$24.6B
– –
-155,300
Closed -$14.7M
FWONK icon
45
Liberty Media Series C
FWONK
$25.6B
– –
-80,000
Closed -$8.36M
HI
46
DELISTED
Hillenbrand
HI
– –
-75,000
Closed -$2.03M
HPP
47
Hudson Pacific Properties
HPP
$794M
– –
-734,347
Closed -$14.2M
IWM icon
48
PUT
iShares Russell 2000 ETF
IWM
$79.3B
– –
-285,000
Closed -$69M
LITE icon
49
Lumentum
LITE
$46.8B
– –
-48,000
Closed -$7.81M
LUMN icon
50
Lumen
LUMN
$6.23B
– –
-3,300,000
Closed -$20.2M
1
2
3

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Diameter Capital Partners's Q4 2025 Portfolio in Review

As of Q4 2025, Diameter Capital Partners held 67 positions worth $1.09B, down 33% from $1.62B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Diameter Capital Partners withdrew a net $722M in Q4 2025, closing 27 positions and reducing 2 holdings. Its most notable exit was Warner Bros, an estimated $43.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 42% of assets, up from 36% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Diameter Capital Partners opened a new position in FS KKR Capital worth $33.7M.

  • Diameter Capital Partners's largest Q4 2025 buy was FS KKR Capital: 2,272,393 shares worth $33.7M.
  • Diameter Capital Partners added most to James Hardie Industries in Q4 2025, an estimated $12M increase.
  • Diameter Capital Partners's biggest Q4 2025 reduction was EchoStar, cutting an estimated $179M.
  • Diameter Capital Partners fully exited Warner Bros in Q4 2025, selling an estimated $43.9M.
  • Diameter Capital Partners's ten largest holdings make up 71% of its $1.09B portfolio in Q4 2025.
  • Diameter Capital Partners opened 23 new positions and closed 27 in Q4 2025.
  • Diameter Capital Partners's portfolio value fell 33% quarter-over-quarter to $1.09B.

Based on Diameter Capital Partners's 13F filing for Q4 2025, filed 17 Feb 2026.