Diameter Capital Partners LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Diameter Capital Partners LP reported 17 stock positions worth $446.3 million . Its top holding was Echostar Class A (ECHO) at 38.6% of the portfolio, followed by Uniti (UNIT, 11.9% ) and Fortune Brands Innovations I (FBIN, 5.9% ). Compared with Q4 2025, it opened 5 new positions, sold out of 20, added to 5 and reduced 6. The biggest buy was Uniti (UNIT, shares +279% ) and the biggest sale Echostar Class A (ECHO, shares −61% ).
Location New York, NY
CIK 0001727012
Portfolio Value $446.3M (Q1 2026) Holdings 17 stocks · $446.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 ECHO Echostar Corp. Class A 1,470,584 $172.2M Reduce -61.0% UNIT Uniti Group Inc. 5,681,528 $53.3M Add +278.8% FBIN Fortune Brands Innovations I 680,000 $26.5M New SILA Sila Realty Trust Inc. 1,050,429 $24.9M Reduce -40.0% PCG P G & E Corp. 1,200,000 $21.1M New UWMC Uwm Holdings Corp. 5,800,000 $21.0M New AMBP Ardagh Metal Packaging SA 4,467,420 $18.1M Reduce -16.9% NCDL Nuveen Churchill Direct Lend 1,379,361 $17.5M Add +13.0% VISN Vistance Networks Inc. 800,000 $14.6M New PFLT Pennantpark Floating Rate Ca 1,655,246 $13.3M Add +39.8% MBC Masterbrand Inc. 1,545,571 $12.8M Reduce -74.3% BBDC Barings BDC Inc. 1,471,800 $12.1M Add +52.3% SLRC SLR Investment Corp. 827,099 $11.8M Add +109.2% MAGN Magnera Corp. 1,205,793 $11.5M No change CMCO Columbus McKinnon Corp. 715,783 $10.4M New RH RH 30,725 $4.3M Reduce -57.9% JHX James Hardie Ind PLC 50,000 $947K Reduce -95.0%
Options reported separately and not counted above: SPY puts ($325.2M), IWM puts ($99.2M), BKNG puts ($25.3M), CZR calls ($24.3M), HCA puts ($22.2M), ARKK puts ($20.3M), XLI puts ($20.2M), GOOGL calls ($7.2M), ECHO calls ($2.0M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $76.1M (not counted above) Total filed on the 13F, all lines: $522.4M.
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ ECHO Echostar Corp. Class A Reduce -61.0% 38.57% −7.22 TDS Telephone and Data Systems Sold out 0.00% −4.89 MBC Masterbrand Inc. Reduce -74.3% 2.88% −4.54 FSK FS KKR Capital Corp. Sold out 0.00% −3.76 AES AES Corp. Sold out 0.00% −3.13 BCSS.U Bain Capital GSS Investment Sold out 0.00% −2.29 CZR Caesars Entertainment Inc. Sold out 0.00% −2.22 ETR Entergy Corp. Sold out 0.00% −2.15 DBRG Digitalbridge Group Inc. Sold out 0.00% −2.14 JHX James Hardie Ind PLC Reduce -95.0% 0.21% −2.11 EVRG Evergy Inc. Sold out 0.00% −2.11 MFIC Midcap Financial Investment Sold out 0.00% −1.30 MDLN Medline Inc. Class A Sold out 0.00% −1.17 WOLF Wolfspeed Inc. Sold out 0.00% −0.68 OPTU Optimum Communications Inc. Class A Sold out 0.00% −0.59 RH RH Reduce -57.9% 0.96% −0.50 ULS Ul Solutions Inc. Class A Sold out 0.00% −0.44 MERC Mercer International Inc. Sold out 0.00% −0.24 LLY Eli Lilly & Co. Sold out 0.00% −0.16 MRK Merck & Co. Inc. Sold out 0.00% −0.16 NVS Novartis AG-Sponsored ADR Sold out 0.00% −0.16 AZN Astrazeneca PLC-Spons ADR Sold out 0.00% −0.15 SNY Sanofi-ADR Sold out 0.00% −0.15 PFE Pfizer Inc. Sold out 0.00% −0.15 SILA Sila Realty Trust Inc. Reduce -40.0% 5.57% +1.01 AMBP Ardagh Metal Packaging SA Reduce -16.9% 4.05% +1.59
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ UNIT Uniti Group Inc. Add +278.8% 11.94% +10.77 FBIN Fortune Brands Innovations I New 5.94% +5.94 PCG P G & E Corp. New 4.72% +4.72 UWMC Uwm Holdings Corp. New 4.70% +4.70 VISN Vistance Networks Inc. New 3.26% +3.26 CMCO Columbus McKinnon Corp. New 2.33% +2.33 NCDL Nuveen Churchill Direct Lend Add +13.0% 3.93% +2.11 SLRC SLR Investment Corp. Add +109.2% 2.65% +1.97 PFLT Pennantpark Floating Rate Ca Add +39.8% 2.98% +1.75 BBDC Barings BDC Inc. Add +52.3% 2.71% +1.72
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 500,000 $325.2M IWM iShares Russell 2000 ETF put New 400,000 $99.2M BKNG Booking Holdings Inc. put New 6,000 $25.3M CZR Caesars Entertainment Inc. call Reduce -38.6% 920,600 $24.3M AAL American Airlines Group Inc. put Sold out 1,500,000 $23.0Mbefore exit HCA HCA Healthcare Inc. put Reduce -60.8% 47,000 $22.2M ARKK ARK Innovation ETF put New 300,000 $20.3M XLI SS Industrial Select Sector put New 125,000 $20.2M GOOGL Alphabet Inc. Class A call Reduce -66.7% 25,000 $7.2M ECHO Echostar Corp. Class A call New 17,100 $2.0M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026 Security Class Change vs Q4 2025 Shares / Principal Value ▼ ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Sold out 40,000,000 $41.3Mbefore exit NEBIUS GROUP NV (NBIS 1.25 03/15/31) FIXED INCOME · principal New 40,000,000 $38.5M NEBIUS GROUP NV (NBIS 2.625 03/15/33 .) FIXED INCOME · principal New 40,000,000 $37.2M FIVE9 INC (FIVN 1 03/15/29) NOTE 1.000% 3/1 · principal Sold out 17,550,000 $15.8Mbefore exit RAPID7 INC (RPD 1.25 03/15/29) NOTE 1.250% 3/1 · principal Sold out 5,000,000 $4.6Mbefore exit LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) DEB 3.750% 2/1 · principal Reduce -0.1% 7,783,528 $320K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 Amended 28 $759.9M IAU, TDS, MBC, UNIT, SPCX Q1 2026 17 $446.3M ECHO, UNIT, FBIN, SILA, PCG Q4 2025 32 $894.5M ECHO, MBC, TDS, SILA, FSK Q3 2025 30 $951.9M ECHO, MBC, WBD, TDS, SILA Q2 2025 19 $341.0M ECHO, VISN, WBD, RH, NVRI Q1 2025 16 $373.9M ECHO, SILA, NBIS, OPTU, WBD Q4 2024 19 $406.7M ECHO, SILA, NBIS, CORZ, VEON Q3 2024 16 $308.5M APLD, SILA, CORZ, OPTU, TAC Q2 2024 13 $295.3M CORZ, LQD, VIK, PRIM, AMBP Q1 2024 11 $454.6M LQD, CALY, PRIM, ECHO, AMBP