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Funds (13F)

Darlington Partners Capital Management, LP

Backtest from 18 Feb 2022 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+3.0%
S&P 500 +14.1%
Last 12 months
−11.7%
S&P 500 +12.1%
Sharpe ratio
0.02
S&P 500 0.51
Biggest drop
−31.5%
S&P 500 −20.5%
$10.0k$20.0k 20222023202420252026 $18.6k$11.5k
StrategyS&P 500 $10,000 in Darlington Partners Capital Management, LP from 18 Feb 2022 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Darlington Partners Capital Management, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Darlington Partners Capital Management, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+3.0%+14.1%
Total return+15%+86%
Last 12 months−11.7%+12.1%
Last 3 months−2.6%—
Last month+4.0%—
This year so far−10.1%—
Volatility a year20.5%16.6%
Sharpe ratio0.020.51
Biggest drop−31.5%−20.5%
Beta to the S&P 5000.921.00
Alpha a year (t-statistic)−7.3% (−1.25)—
Share of weeks up54%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
TPG16.1%——
FOUR15.4%——
LPLA12.3%——
TKO12.0%——
CRM10.8%——
GLBE10.7%——
WMG8.0%——
FUN7.2%——
ACEL4.5%——
LINE2.9%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest18 Feb 2022 to 2 Nov 2026+3.0%+14.1%0.020.51−31.5%0.92−7.3% (−1.25)
Last three years3 Nov 2023 to 2 Nov 2026+5.4%+21.8%0.131.16−31.5%0.90−12.1% (−1.53)
Last year7 Nov 2025 to 2 Nov 2026−7.0%+14.2%−0.520.84−18.0%0.82−17.5% (−1.12)
DateCompanyAction
20 Feb 2026GLBEBought
15 Aug 2025TPGBought
21 Feb 2025LINEBought
21 Feb 2025FUNBought
15 Nov 2024WMGBought
15 Nov 2024TKOBought
15 Nov 2024LPLABought
15 Nov 2024LNGBought
15 Nov 2024FWONKBought
15 Nov 2024FOURBought
15 Nov 2024CRMBought
15 Nov 2024COLDBought
15 Nov 2024BXBought
15 Nov 2024ACELBought

Dated at the rebalance that made the change.

DateCompanyAction
22 May 2026LNGSold
22 May 2026FWONKSold
22 May 2026BXSold
16 May 2025COLDSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest