Managers / Q4 2025 · view latest →
Dilation Capital Management LP
CIK 0001922880 · 767 FIFTH AVENUE, 18TH FLOOR, NEW YORK, NY, 10153 · 917-912-5665
Summary
Dilation Capital Management LP reported $217M in U.S.-listed holdings across 19 positions for Q4 2025.
Its largest position, BA, represents 12.2% of the portfolio.
Compared with Q3 2025, the fund opened 2 new positions and exited 4.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 95.3% · $207M
- ADR · 4.7% · $10M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TSMTAIWAN SEMICONDUCTOR MFG LTD | NEW | +33.7K | 33.7K | +$10M | $10M |
| SPGIS&P GLOBAL INC | NEW | +8.8K | 8.8K | +$5M | $5M |
| TLNTALEN ENERGY CORP | ADDED | +15.6K | 27.6K | +$5M | $10M |
| COINCOINBASE GLOBAL INC | SOLD OUT | −19.9K | 0 | −$7M | $0 |
| AXONAXON ENTERPRISE INC | SOLD OUT | −7.6K | 0 | −$5M | $0 |
| MGNIMAGNITE INC | SOLD OUT | −245.9K | 0 | −$5M | $0 |
| ORCLORACLE CORP | SOLD OUT | −16.1K | 0 | −$5M | $0 |
| AMRZAMRIZE LTD | TRIMMED | −130.0K | 76.2K | −$6M | $4M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BABOEING COhistory → | COM | 12.21% | $27M | 122.3K |
| 2 | NVDANVIDIA CORPORATIONhistory → | COM | 10.45% | $23M | 121.9K |
| 3 | CLSCELESTICA INChistory → | COM | 7.77% | $17M | 57.1K |
| 4 | AFRMAFFIRM HLDGS INChistory → | COM CL A | 7.38% | $16M | 215.7K |
| 5 | APPAPPLOVIN CORPhistory → | COM CL A | 6.89% | $15M | 22.2K |
| 6 | KKRKKR & CO INChistory → | COM | 6.66% | $14M | 113.6K |
| 7 | AVGOBROADCOM INChistory → | COM | 6.62% | $14M | 41.6K |
| 8 | DHID R HORTON INChistory → | COM | 5.23% | $11M | 79.0K |
| 9 | CPCANADIAN PACIFIC KANSAS CITYhistory → | COM | 5.21% | $11M | 153.8K |
| 10 | TLNTALEN ENERGY CORPhistory → | COM | 4.76% | $10M | 27.6K |
| 11 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 4.71% | $10M | 33.7K |
| 12 | SHWSHERWIN WILLIAMS COhistory → | COM | 4.38% | $10M | 29.4K |
| 13 | HWMHOWMET AEROSPACE INChistory → | COM | 3.53% | $8M | 37.4K |
| 14 | HSICHENRY SCHEIN INChistory → | COM | 2.76% | $6M | 79.5K |
| 15 | TDGTRANSDIGM GROUP INChistory → | COM | 2.67% | $6M | 4.4K |
| 16 | CIENCIENA CORPhistory → | COM NEW | 2.60% | $6M | 24.2K |
| 17 | NBISNEBIUS GROUP N.V.history → | SHS CLASS A | 2.14% | $5M | 55.7K |
| 18 | SPGIS&P GLOBAL INChistory → | COM | 2.12% | $5M | 8.8K |
| 19 | AMRZAMRIZE LTDhistory → | SHS | 1.90% | $4M | 76.2K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $199M | 20 | Apr 29, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $217M | 19 | Feb 9, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $202M | 21 | Oct 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $188M | 20 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $82M | 15 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $108M | 20 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.