Darlington Partners Capital Management, LP
GREENBRAE, CA
$2.3bn in 10 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 4.6% of the portfolio this quarter.
Value
$2.3bn
Stocks
10
Top 10 share
100.0%
Turnover
4.6%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- Shift4 PaymentsFOUR15.4% of the fund+9%
- LPL Financial HoldingsLPLA12.3% of the fund+11%
Cut
Sold some of their stake.
- Warner Music GroupWMG8.0% of the fund-11%
- Six Flags EntertainmentFUN7.2% of the fund-11%
- LineageLINE2.9% of the fund-45%
Sold out
Sold their entire stake.
None this quarter.
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| TPGTPG | 16.1% | $365m | 9,000,000 | Held |
| Shift4 PaymentsFOUR | 15.4% | $348m | 7,161,844 | +9% |
| LPL Financial HoldingsLPLA | 12.3% | $280m | 993,006 | +11% |
| TKO Group HoldingsTKO | 12.0% | $272m | 1,350,367 | Held |
| SalesforceCRM | 10.8% | $245m | 1,561,852 | Held |
| Global-E OnlineGLBE | 10.7% | $242m | 6,961,820 | Held |
| Warner Music GroupWMG | 8.0% | $182m | 6,705,884 | -11% |
| Six Flags EntertainmentFUN | 7.2% | $164m | 7,700,000 | -11% |
| Accel EntertainmentACEL | 4.5% | $102m | 8,098,349 | Held |
| LineageLINE | 2.9% | $66m | 1,533,843 | -45% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 27.9% since 30 June 2025.
Where the money is
Financial services43.8%
Technology21.5%
Media & telecom20.0%
Retail & consumer11.7%
Real estate2.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.