Darsana Capital Partners LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Darsana Capital Partners LP reported 14 stock positions worth $4.2 billion. Its top holding was Echostar Class A (ECHO) at 13.5% of the portfolio, followed by Guidewire Software (GWRE, 10.8%) and New York Times Class A (NYT, 10.8%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 5 and reduced 3. The biggest buy was a new position in Wingstop (WING) and the biggest sale an exit from Hilton Worldwide (HLT).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001609098
- Portfolio Value
- $4.2B (Q3 2025)
- SEC Filing
- 0001172661-25-005020 ↗ filed Nov 14, 2025
Holdings Value
Holdings 14 stocks · $4.2B
| ECHO Echostar Corp. Class A | 13.49% | 7,500,000 | $572.7M | Reduce -16.3% |
| GWRE Guidewire Software Inc. | 10.83% | 2,000,000 | $459.7M | No change |
| NYT New York Times Co. Class A | 10.82% | 8,000,000 | $459.2M | Add +28.0% |
| HCA HCA Healthcare Inc. | 10.04% | 1,000,000 | $426.2M | No change |
| SHC Sotera Health Co. | 9.26% | 25,000,000 | $393.3M | Add +24.9% |
| SGI Somnigroup International Inc. | 7.95% | 4,000,000 | $337.3M | Reduce -20.0% |
| FWONK Liberty Media Corp. Class C | 7.36% | 2,990,000 | $312.3M | Add +19.6% |
| TDG Transdigm Group Inc. | 6.21% | 200,000 | $263.6M | Add +14.3% |
| EFX Equifax Inc. | 6.04% | 1,000,000 | $256.5M | No change |
| SCHW Schwab (charles) Corp. | 5.06% | 2,250,000 | $214.8M | No change |
| WMG Warner Music Group Corp. Class A | 5.01% | 6,250,000 | $212.9M | Reduce -21.9% |
| WING Wingstop Inc. | 4.45% | 750,000 | $188.8M | New |
| AER Aercap Holdings NV | 2.07% | 725,000 | $87.7M | No change |
| FWONA Liberty Media Corp. Class A | 1.43% | 635,970 | $60.6M | Add +1.8% |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $22.3B | SPCX, AMZN, ECHO, SHC, GWRE |
| Q1 2026 | 14 | $4.7B | ECHO, GWRE, NYT, SHC, FWONK |
| Q4 2025 | 16 | $5.0B | ECHO, NYT, GWRE, HCA, SHC |
| Q3 2025 | 14 | $4.2B | ECHO, GWRE, NYT, HCA, SHC |
| Q2 2025 | 14 | $3.5B | GWRE, HCA, NYT, SGI, TDG |
| Q1 2025 | 14 | $3.4B | HCA, GWRE, SGI, FWONK, NYT |
| Q4 2024 | 14 | $3.3B | SGI, GWRE, HCA, NYT, GOOGL |
| Q3 2024 | 15 | $4.1B | HCA, GWRE, SGI, HLT, SHC |
| Q2 2024 | 14 | $3.7B | GWRE, META, CMCSA, HCA, STZ |
| Q1 2024 | 13 | $3.1B | GWRE, STZ, CMCSA, HLT, BAC |