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Darsana Capital Partners LP

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13F filer, CIK 1609098, New York, NY

Darsana Capital Partners LP reported $5,017,608,933 across 16 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 81.66% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-000954

Period
2025-12-31
Reported value
$5.02B
Holdings
16
Top 10 weight
81.66%
New
2
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VRTnew+1,500,000$243M
GWREadded+500,000$101M
DKSnew+500,000$99M
FWONKadded+610,000$60.1M
WINGadded+250,000$59.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SGIreduced-1,000,000-$89.3M
ECHOreduced-500,000-$54.4M
AERreduced-250,000-$35.9M
NYTreduced-341,100-$23.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001172661-26-000954, largest first. % of portfolio is the value over $5,017,608,933, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000,000 shares; 2024Q4: 7,000,000 shares; 2025Q1: 7,758,328 shares; 2025Q2: 8,960,000 shares; 2025Q3: 7,500,000 shares; 2025Q4: 7,000,000 shares 7,000,000$761M15.16%-500,000Timeline
NYTNEW YORK TIMES CO MTN BEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000,000 shares; 2024Q4: 5,750,000 shares; 2025Q1: 6,250,000 shares; 2025Q2: 6,250,000 shares; 2025Q3: 8,000,000 shares; 2025Q4: 7,658,900 shares 7,658,900$532M10.6%-341,100Timeline
GWREGUIDEWIRE SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,300,000 shares; 2024Q4: 2,300,000 shares; 2025Q1: 2,300,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 2,000,000 shares; 2025Q4: 2,500,000 shares 2,500,000$503M10.02%+500,000Timeline
HCAHCA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,150,000 shares; 2024Q4: 1,225,000 shares; 2025Q1: 1,250,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares; 2025Q4: 1,000,000 shares 1,000,000$467M9.3%0Timeline
SHCSOTERA HEALTH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,010,000 shares; 2024Q4: 20,010,000 shares; 2025Q1: 20,010,000 shares; 2025Q2: 20,010,000 shares; 2025Q3: 25,000,000 shares; 2025Q4: 26,000,000 shares 26,000,000$459M9.14%+1,000,000Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 557,000 shares; 2025Q1: 3,490,000 shares; 2025Q2: 2,500,000 shares; 2025Q3: 2,990,000 shares; 2025Q4: 3,600,000 shares 3,600,000$355M7.07%+610,000Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,000,000 shares; 2024Q4: 7,000,000 shares; 2025Q1: 7,000,000 shares; 2025Q2: 5,000,000 shares; 2025Q3: 4,000,000 shares; 2025Q4: 3,000,000 shares 3,000,000$268M5.34%-1,000,000Timeline
TDGTRANSDIGM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,000 shares; 2024Q4: 200,000 shares; 2025Q1: 200,000 shares; 2025Q2: 175,000 shares; 2025Q3: 200,000 shares; 2025Q4: 200,000 shares 200,000$266M5.3%0Timeline
WMGWARNER MUSIC GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,121 shares; 2024Q4: 6,000,000 shares; 2025Q1: 7,000,000 shares; 2025Q2: 8,000,000 shares; 2025Q3: 6,250,000 shares; 2025Q4: 8,000,000 shares 8,000,000$245M4.89%+1,750,000Timeline
VRTVERTIV HOLDINGS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,500,000 shares 1,500,000$243M4.84%newTimeline
WINGWINGSTOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 750,000 shares; 2025Q4: 1,000,000 shares 1,000,000$238M4.75%+250,000Timeline
SCHWCHARLES SCHWAB CORP (THE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000,000 shares; 2024Q4: not reported; 2025Q1: 2,250,000 shares; 2025Q2: 2,250,000 shares; 2025Q3: 2,250,000 shares; 2025Q4: 2,250,000 shares 2,250,000$225M4.48%0Timeline
EFXEQUIFAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares; 2025Q4: 1,000,000 shares 1,000,000$217M4.32%0Timeline
DKSDICKS SPORTING GOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 500,000 shares 500,000$99M1.97%newTimeline
FWONALIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 73,836 shares; 2025Q1: 625,000 shares; 2025Q2: 625,000 shares; 2025Q3: 635,970 shares; 2025Q4: 812,750 shares 812,750$72.6M1.45%+176,780Timeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 725,000 shares; 2025Q3: 725,000 shares; 2025Q4: 475,000 shares 475,000$68.3M1.36%-250,000Timeline

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-26-000954 base2026-02-17acceptance time not in the bulk data set