Darsana Capital Partners LP Diversified Active

CIK: 0001609098 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $5,017,609 (100.0% shares, 0.0% debt)

Holdings (16)

New Positions (2)

VRT VERTIV HOLDINGS CO 4.8%

Value ($000) $243,015 Shares 1,500,000 Est. Cost $173.58 Unrealized 0.0%

DKS DICKS SPORTING GOODS INC 2.0%

Value ($000) $98,985 Shares 500,000 Est. Cost $217.13 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VRT	VERTIV HOLDINGS CO	1,500,000	$243,015	4.8%	$173.58	0.0%	COM CL A	92537N108
DKS	DICKS SPORTING GOODS INC	500,000	$98,985	2.0%	$217.13	0.0%	COM	253393102

Increased Positions (6)

SHC SOTERA HEALTH CO 9.1%

Value ($000) $458,640 (+16.6%) Shares 26,000,000 (+4.0%) Est. Cost $14.27 Unrealized +15.9%

WING WINGSTOP INC 4.8%

Value ($000) $238,490 (+26.3%) Shares 1,000,000 (+33.3%) Est. Cost $294.95 Unrealized -16.0%

GWRE GUIDEWIRE SOFTWARE INC 10.0%

Value ($000) $502,525 (+9.3%) Shares 2,500,000 (+25.0%) Est. Cost $127.36 Unrealized +73.7%

FWONK LIBERTY MEDIA CORP DEL 7.1%

Value ($000) $354,636 (+13.6%) Shares 3,600,000 (+20.4%) Est. Cost $93.71 Unrealized —

WMG WARNER MUSIC GROUP CORP 4.9%

Value ($000) $245,360 (+15.3%) Shares 8,000,000 (+28.0%) Est. Cost $30.46 Unrealized -0.7%

FWONA LIBERTY MEDIA CORP DEL 1.4%

Value ($000) $72,644 (+20.0%) Shares 812,750 (+27.8%) Est. Cost $83.61 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SHC	SOTERA HEALTH CO	26,000,000 (+4.0%)	$458,640 (+16.6%)	9.1%	$14.27	+15.9%	COM	83601L102
WING	WINGSTOP INC	1,000,000 (+33.3%)	$238,490 (+26.3%)	4.8%	$294.95	-16.0%	COM	974155103
GWRE	GUIDEWIRE SOFTWARE INC	2,500,000 (+25.0%)	$502,525 (+9.3%)	10.0%	$127.36	+73.7%	COM	40171V100
FWONK	LIBERTY MEDIA CORP DEL	3,600,000 (+20.4%)	$354,636 (+13.6%)	7.1%	$93.71	—	COM LBTY ONE S C	531229755
WMG	WARNER MUSIC GROUP CORP	8,000,000 (+28.0%)	$245,360 (+15.3%)	4.9%	$30.46	-0.7%	COM CL A	934550203
FWONA	LIBERTY MEDIA CORP DEL	812,750 (+27.8%)	$72,644 (+20.0%)	1.4%	$83.61	—	COM LBTY ONE S A	531229771

Decreased Positions (4)

SATS ECHOSTAR CORP 15.2%

Value ($000) $760,900 (+32.9%) Shares 7,000,000 (-6.7%) Est. Cost $22.01 Unrealized +270.0%

NYT NEW YORK TIMES CO 10.6%

Value ($000) $531,681 (+15.8%) Shares 7,658,900 (-4.3%) Est. Cost $38.52 Unrealized +60.5%

SGI SOMNIGROUP INTERNATIONAL INC 5.3%

Value ($000) $267,840 (-20.6%) Shares 3,000,000 (-25.0%) Est. Cost $48.22 Unrealized +81.2%

AER AERCAP HOLDINGS NV 1.4%

Value ($000) $68,286 (-22.2%) Shares 475,000 (-34.5%) Est. Cost $92.64 Unrealized +43.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SATS	ECHOSTAR CORP	7,000,000 (-6.7%)	$760,900 (+32.9%)	15.2%	$22.01	+270.0%	CL A	278768106
NYT	NEW YORK TIMES CO	7,658,900 (-4.3%)	$531,681 (+15.8%)	10.6%	$38.52	+60.5%	CL A	650111107
SGI	SOMNIGROUP INTERNATIONAL INC	3,000,000 (-25.0%)	$267,840 (-20.6%)	5.3%	$48.22	+81.2%	COM	88023U101
AER	AERCAP HOLDINGS NV	475,000 (-34.5%)	$68,286 (-22.2%)	1.4%	$92.64	+43.0%	SHS	N00985106

Unchanged Positions (4)

HCA HCA HEALTHCARE INC 9.3%

Value ($000) $466,860 Shares 1,000,000 Est. Cost $310.45 Unrealized +49.4%

EFX EQUIFAX INC 4.3%

Value ($000) $216,980 Shares 1,000,000 Est. Cost $249.55 Unrealized -12.4%

SCHW SCHWAB CHARLES CORP 4.5%

Value ($000) $224,798 Shares 2,250,000 Est. Cost $77.67 Unrealized +22.0%

TDG TRANSDIGM GROUP INC 5.3%

Value ($000) $265,970 Shares 200,000 Est. Cost $1179.10 Unrealized +11.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HCA	HCA HEALTHCARE INC	1,000,000	$466,860	9.3%	$310.45	+49.4%	COM	40412C101
EFX	EQUIFAX INC	1,000,000	$216,980	4.3%	$249.55	-12.4%	COM	294429105
SCHW	SCHWAB CHARLES CORP	2,250,000	$224,798	4.5%	$77.67	+22.0%	COM	808513105
TDG	TRANSDIGM GROUP INC	200,000	$265,970	5.3%	$1179.10	+11.2%	COM	893641100