Diameter Capital Partners LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Diameter Capital Partners LP reported 16 stock positions worth $373.9 million. Its top holding was Echostar Class A (ECHO) at 41.2% of the portfolio, followed by Sila Realty Trust (SILA, 9.6%) and Nebius (NBIS, 6.7%). Compared with Q4 2024, it opened 3 new positions, sold out of 6, added to 5 and reduced 7. The biggest buy was Echostar Class A (ECHO, shares +20%) and the biggest sale an exit from Core Scientific (CORZ).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001727012
Portfolio Value
$373.9M (Q1 2025)
SEC Filing
0001172661-25-001976 ↗ filed May 15, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $454.6M Q1 2024 Q2 2024: $295.3M Q2 2024 Q3 2024: $308.5M Q3 2024 Q4 2024: $406.7M Q4 2024 Q1 2025: $373.9M $373.9M Q1 2025 Q2 2025: $341.0M Q2 2025 Q3 2025: $951.9M Q3 2025 Q4 2025: $894.5M Q4 2025 Q1 2026: $446.3M Q1 2026 Q2 2026: $759.9M Q2 2026

Holdings 16 stocks · $373.9M
ECHO Echostar Corp. Class A 41.23% 6,025,823 $154.1M Add +19.9%
SILA Sila Realty Trust Inc. 9.63% 1,347,765 $36.0M Reduce -7.0%
NBIS Nebius Group NV 6.72% 1,190,476 $25.1M No change
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 5.79% 8,137,239 $21.6M Reduce -11.3%
WBD Warner Bros Discovery Inc. 5.32% 1,855,000 $19.9M Reduce -2.4%
MCY Mercury General Corp. 5.23% 350,000 $19.6M New
TDS Telephone and Data Systems 5.05% 486,924 $18.9M Add +8.2%
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 3.84% 2,702,363 $14.3M New
ATI Ati Inc. 3.76% 270,000 $14.0M Add +107.7%
AMBP Ardagh Metal Packaging SA 3.74% 4,624,121 $14.0M Add +5.7%
CCO Clear Channel Outdoor Holdin 2.65% 8,923,403 $9.9M Reduce -11.7%
NVRI Enviri Corp. 2.02% 1,135,427 $7.6M Add +127.1%
VEON Veon Ltd. 1.92% 164,186 $7.2M Reduce -73.8%
NESR National Energy Services Reu 1.66% 843,506 $6.2M Reduce -7.2%
BLCO Bausch + Lomb Corp. 1.03% 265,165 $3.8M Reduce -62.2%
PRIV SS Ig Publ Priv Cred ETF-Usd 0.43% 63,800 $1.6M New

Options reported separately and not counted above: IWM puts ($199.5M), BKLN puts ($144.9M), WBD calls ($85.8M), BHC calls ($7.1M).

Other holdings (3): bonds, preferreds, convertibles and warrants · $46.5M (not counted above)
SecurityClassShares / PrincipalValueChange
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) NOTE 0.250% 6/1 · principal 44,865,000$42.1MNo change
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) DEB 3.750% 2/1 · principal 11,400,000$3.2MAdd +7.5%
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal 4,000,000$1.2MAdd +10.8%

Total filed on the 13F, all lines: $420.3M.

Portfolio Sells Q4 2024 → Q1 2025
CORZ Core Scientific Inc. Sold out 0.00% −7.82
TAC Transalta Corp. Sold out 0.00% −4.35
VEON Veon Ltd. Reduce -73.8% 1.92% −4.27
PRIM Primoris Services Corp. Sold out 0.00% −3.76
BLCO Bausch + Lomb Corp. Reduce -62.2% 1.03% −2.09
BHC Bausch Health Cos Inc. Sold out 0.00% −1.97
BAH Booz Allen Hamilton Holdings Sold out 0.00% −1.58
CCO Clear Channel Outdoor Holdin Reduce -11.7% 2.65% −0.75
HUT Hut 8 Corp. Sold out 0.00% −0.65
NESR National Energy Services Reu Reduce -7.2% 1.66% −0.34
OPTU Optimum Communications Inc. Class A Reduce -11.3% 5.79% +0.35
WBD Warner Bros Discovery Inc. Reduce -2.4% 5.32% +0.39
SILA Sila Realty Trust Inc. Reduce -7.0% 9.63% +0.96

Portfolio Buys Q4 2024 → Q1 2025
ECHO Echostar Corp. Class A Add +19.9% 41.23% +12.93
MCY Mercury General Corp. New 5.23% +5.23
VISN Vistance Networks Inc. New 3.84% +3.84
ATI Ati Inc. Add +107.7% 3.76% +2.00
TDS Telephone and Data Systems Add +8.2% 5.05% +1.27
NVRI Enviri Corp. Add +127.1% 2.02% +1.07
AMBP Ardagh Metal Packaging SA Add +5.7% 3.74% +0.50
PRIV SS Ig Publ Priv Cred ETF-Usd New 0.43% +0.43

Options Activity Q4 2024 → Q1 2025
IWM iShares Russell 2000 ETF put New 1,000,000 $199.5M
BKLN Invesco Senior Loan ETF put New 7,000,000 $144.9M
WBD Warner Bros Discovery Inc. call Add +166.7% 8,000,000 $85.8M
UNH Unitedhealth Group Inc. call Sold out 120,000 $60.7Mbefore exit
HUM Humana Inc. call Sold out 132,500 $33.6Mbefore exit
CVS CVS Health Corp. call Sold out 300,000 $13.5Mbefore exit
CTSH Cognizant Tech Solutions-A put Sold out 149,800 $11.5Mbefore exit
BHC Bausch Health Cos Inc. call New 1,096,900 $7.1M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2024 → Q1 2025
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Sold out 1,000,000 $60.9Mbefore exit
CABLE ONE INC (CABO 1.125 03/15/28) NOTE 1.125% 3/1 · principal Sold out 17,016,000 $14.1Mbefore exit
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) DEB 3.750% 2/1 · principal Add +7.5% 11,400,000 $3.2M
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal Add +10.8% 4,000,000 $1.2M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 28$759.9MIAU, TDS, MBC, UNIT, SPCX
Q1 2026 17$446.3MECHO, UNIT, FBIN, SILA, PCG
Q4 2025 32$894.5MECHO, MBC, TDS, SILA, FSK
Q3 2025 30$951.9MECHO, MBC, WBD, TDS, SILA
Q2 2025 19$341.0MECHO, VISN, WBD, RH, NVRI
Q1 2025 16$373.9MECHO, SILA, NBIS, OPTU, WBD
Q4 2024 19$406.7MECHO, SILA, NBIS, CORZ, VEON
Q3 2024 16$308.5MAPLD, SILA, CORZ, OPTU, TAC
Q2 2024 13$295.3MCORZ, LQD, VIK, PRIM, AMBP
Q1 2024 11$454.6MLQD, CALY, PRIM, ECHO, AMBP