Dilation Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Dilation Capital Management LP reported 19 stock positions worth $217.4 million. Its top holding was Boeing (BA) at 12.2% of the portfolio, followed by Nvidia (NVDA, 10.5%) and Celestica (CLS, 7.8%). Compared with Q3 2025, it opened 2 new positions, sold out of 4, added to 12 and reduced 4. The biggest buy was a new position in Taiwan Semiconductor-SP ADR (TSM) and the biggest sale an exit from Coinbase Global Class A (COIN).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001922880
- Portfolio Value
- $217.4M (Q4 2025)
- SEC Filing
- 0001172661-26-000533 ↗ filed Feb 9, 2026
Holdings Value
Holdings 19 stocks · $217.4M
| BA The Boeing Co. | 12.21% | 122,277 | $26.5M | Add +8.2% |
| NVDA Nvidia Corp. | 10.45% | 121,861 | $22.7M | Add +24.6% |
| CLS Celestica Inc. | 7.77% | 57,137 | $16.9M | Add +29.6% |
| AFRM Affirm Holdings Inc. | 7.38% | 215,688 | $16.1M | Add +20.2% |
| APP AppLovin Corp. Class A | 6.89% | 22,222 | $15.0M | Add +46.6% |
| KKR KKR & Co. Inc. | 6.66% | 113,565 | $14.5M | Add +24.3% |
| AVGO Broadcom Inc. | 6.62% | 41,594 | $14.4M | Add +52.0% |
| DHI D.R. Horton Inc. | 5.23% | 79,015 | $11.4M | No change |
| CP Canadian Pacific Kansas City | 5.21% | 153,847 | $11.3M | Reduce -9.6% |
| TLN Talen Energy Corp. | 4.76% | 27,632 | $10.4M | Add +130.3% |
| TSM Taiwan Semiconductor-SP ADR | 4.71% | 33,690 | $10.2M | New |
| SHW The Sherwin-Williams Co. | 4.38% | 29,361 | $9.5M | Add +29.1% |
| HWM Howmet Aerospace Inc. | 3.53% | 37,435 | $7.7M | Add +15.3% |
| HSIC Henry Schein Inc. | 2.76% | 79,465 | $6.0M | Add +3.3% |
| TDG Transdigm Group Inc. | 2.67% | 4,373 | $5.8M | Reduce -44.2% |
| CIEN Ciena Corp. | 2.60% | 24,203 | $5.7M | Add +23.3% |
| NBIS Nebius Group NV | 2.14% | 55,682 | $4.7M | Reduce -17.3% |
| SPGI S&P Global Inc. | 2.12% | 8,835 | $4.6M | New |
| AMRZ Amrize Ltd. | 1.90% | 76,242 | $4.1M | Reduce -63.0% |
Portfolio Sells Q3 2025 → Q4 2025
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −3.33 |
| AMRZ Amrize Ltd. | Reduce -63.0% | 1.90% | −3.07 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −2.70 |
| MGNI Magnite Inc. | Sold out | 0.00% | −2.65 |
| TDG Transdigm Group Inc. | Reduce -44.2% | 2.67% | −2.45 |
| ORCL Oracle Corp. | Sold out | 0.00% | −2.24 |
| NBIS Nebius Group NV | Reduce -17.3% | 2.14% | −1.60 |
| CP Canadian Pacific Kansas City | Reduce -9.6% | 5.21% | −1.08 |
Portfolio Buys Q3 2025 → Q4 2025
| TSM Taiwan Semiconductor-SP ADR | New | 4.71% | +4.71 |
| CLS Celestica Inc. | Add +29.6% | 7.77% | +2.38 |
| TLN Talen Energy Corp. | Add +130.3% | 4.76% | +2.23 |
| AVGO Broadcom Inc. | Add +52.0% | 6.62% | +2.15 |
| SPGI S&P Global Inc. | New | 2.12% | +2.12 |
| APP AppLovin Corp. Class A | Add +46.6% | 6.89% | +1.49 |
| NVDA Nvidia Corp. | Add +24.6% | 10.45% | +1.41 |
| CIEN Ciena Corp. | Add +23.3% | 2.60% | +1.19 |
| AFRM Affirm Holdings Inc. | Add +20.2% | 7.38% | +0.88 |
| KKR KKR & Co. Inc. | Add +24.3% | 6.66% | +0.77 |
| SHW The Sherwin-Williams Co. | Add +29.1% | 4.38% | +0.47 |
| HWM Howmet Aerospace Inc. | Add +15.3% | 3.53% | +0.37 |
| HSIC Henry Schein Inc. | Add +3.3% | 2.76% | +0.23 |
| BA The Boeing Co. | Add +8.2% | 12.21% | +0.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $247.8M | BA, SNDK, TKR, GE, SHW |
| Q1 2026 | 20 | $199.2M | BA, NVDA, SHW, CLS, LITE |
| Q4 2025 | 19 | $217.4M | BA, NVDA, CLS, AFRM, APP |
| Q3 2025 | 21 | $201.8M | BA, NVDA, DHI, AFRM, CP |
| Q2 2025 | 20 | $187.7M | BA, NVDA, CP, AFRM, CLS |
| Q1 2025 | 15 | $82.3M | BA, HWM, CP, KKR, TDG |
| Q4 2024 | 20 | $108.4M | CP, BA, NVDA, TDG, MNDY |