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Hedge fund

Darlington Partners Capital Management, LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1854440

Reported value
$2.3bn
100% in companies we cover
Positions we cover
10
Largest TPG 16.1%
Copy, a year
+3.0%
S&P 500 +14.1%
Copy Sharpe ratio
0.02
S&P 500 0.51

How copying its 13F would have done

$10.0k$20.0k 20222023202420252026 $18.6k$11.5k
CopyS&P 500 $10,000 copying Darlington Partners Capital Management, LP's filed holdings in companies we cover from February 18, 2022, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −31.5% (S&P 500 −20.5%); beta 0.92; alpha −7.3% a year (t = −1.25); last 12 months −11.7% against +12.1%.

Reported value by quarter

Darlington Partners Capital Management, LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $500B $1T $1.5T Reported value, 2021-12-31: $1.5B Reported value, 2022-03-31: $1.3T Reported value, 2022-06-30: $1.3B Reported value, 2022-09-30: $1.2B Reported value, 2022-12-31: $1.1T Reported value, 2023-03-31: $1.3B Reported value, 2023-06-30: $1.5B Reported value, 2023-09-30: $1.6B Reported value, 2023-12-31: $1.7B Reported value, 2024-03-31: $1.7B Reported value, 2024-06-30: $2B Reported value, 2024-09-30: $2.5B Reported value, 2024-12-31: $2.7B Reported value, 2025-03-31: $3B Reported value, 2025-06-30: $3.1B Reported value, 2025-09-30: $3B Reported value, 2025-12-31: $2.5B Reported value, 2026-03-31: $2.2B Reported value, 2026-06-30: $2.3B 2021-12-31 2022-12-31 2023-12-31 2024-12-31 2026-06-30 $2.3B
View chart data
Period Reported value
2021-12-31 $1.5B
2022-03-31 $1.3T
2022-06-30 $1.3B
2022-09-30 $1.2B
2022-12-31 $1.1T
2023-03-31 $1.3B
2023-06-30 $1.5B
2023-09-30 $1.6B
2023-12-31 $1.7B
2024-03-31 $1.7B
2024-06-30 $2B
2024-09-30 $2.5B
2024-12-31 $2.7B
2025-03-31 $3B
2025-06-30 $3.1B
2025-09-30 $3B
2025-12-31 $2.5B
2026-03-31 $2.2B
2026-06-30 $2.3B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
TPGTPG Inc.16.11%$364.9m9.00M0.0%
FOURShift4 Payments, Inc.15.38%$348.4m7.16M+8.9% Added
LPLALPL Financial Holdings Inc.12.35%$279.7m993.0K+11.2% Added
TKOTKO Group Holdings12.00%$271.8m1.35M0.0%
CRMSalesforce10.80%$244.7m1.56M0.0%
GLBEGlobal-e Online Ltd.10.67%$241.8m6.96M0.0%
WMGWarner Music Group Corp.8.01%$181.5m6.71M−11.2% Reduced
FUNSix Flags Entertainment Corporation7.24%$164.0m7.70M−11.5% Reduced
ACELAccel Entertainment, Inc.4.51%$102.1m8.10M0.0%
LINELineage, Inc.2.93%$66.3m1.53M−44.6% Reduced
CompanyBought (value)Shares
FOURShift4 Payments, Inc.$28.5m585.3K
LPLALPL Financial Holdings Inc.$28.2m100.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
LINELineage, Inc.−$53.4m−1.24M
WMGWarner Music Group Corp.−$22.9m−846.0K
FUNSix Flags Entertainment Corporation−$21.3m−1.00M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

No positions in covered companies were sold out this quarter.

  • Financials43.8%
  • Technology21.5%
  • Communication Services20.0%
  • Consumer Discretionary11.7%
  • Real Estate2.9%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestFebruary 18, 2022 to November 2, 2026+3.0%+14.1%0.020.51−31.5%0.92
Last three yearsNovember 3, 2023 to November 2, 2026+5.4%+21.8%0.131.16−31.5%0.90
Last yearNovember 7, 2025 to November 2, 2026−7.0%+14.2%−0.520.84−18.0%0.82

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.