Diameter Capital Partners LP 13F: Quarter-over-Quarter Portfolio Changes
Diameter Capital Partners LP reported a disclosed portfolio value of approximately $522.4 million in its latest SEC Form 13F-HR filing for Q1 2026, down 45.4% quarter on quarter. Over the quarter, the fund initiated 7 new positions, bought more shares in 5 holdings, trimmed 7 holdings, and exited 23 positions.
Diameter Capital Partners LP's top buy was Uniti Group LLC (UNIT) . The fund bought 278.8% more shares, lifting the position's portfolio weight by 9.1 percentage points. Its top sell was Telephone & Data Sys INC (TDS) . The fund exited the position completely after it had accounted for 4.6% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| NEBIUS GROUP N.V. | NBIS 1.25 03/15/31 | 7.4% | — |
| NEBIUS GROUP N.V. | NBIS 2.625 03/15/33 . | 7.1% | — |
| FORTUNE BRANDS INNOVATIONS I | FBIN | 5.1% | History → |
| PG&E CORP | PCG | 4.0% | History → |
| UWM HOLDINGS CORPORATION | UWMC | 4.0% | History → |
| VISTANCE NETWORKS INC | VISN | 2.8% | History → |
| COLUMBUS MCKINNON CORP N Y | CMCO | 2.0% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| UNITI GROUP LLC | UNIT | +9.1% | +278.8% | History → |
| SLR INVESTMENT CORP | SLRC | +1.6% | +109.2% | Holders → |
| BARINGS BDC INC | BBDC | +1.4% | +52.3% | Holders → |
| PENNANTPARK FLOATING RATE CA | PFLT | +1.4% | +39.7% | History → |
| NUVEEN CHURCHILL DIRECT LEND | NCDL | +1.7% | +13.0% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| JAMES HARDIE INDS PLC | JHX | -2.0% | 95.0% | Holders → |
| MASTERBRAND INC | MBC | -4.5% | 74.3% | Holders → |
| ECHOSTAR CORP | SATS | -9.9% | 61.0% | History → |
| RH | RH | -0.5% | 57.9% | Holders → |
| SILA REALTY TRUST INC | SILA | 0.5% | 40.0% | History → |
| ARDAGH METAL PACKAGING S A | AMBP | 1.2% | 16.9% | History → |
| LIBERTY MEDIA CORP DEL | LINTA 3.75 02/15/30 | 0.0% | 0.1% | — |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| TELEPHONE & DATA SYS INC | TDS | 4.6% |
| ALIBABA GROUP HLDG LTD | BABA 0.5 06/01/31 | 4.3% |
| FS KKR CAP CORP | FSK | 3.5% |
| AES CORP | AES | 2.9% |
| BAIN CAP GSS INVT CORP | BCSS/U | 2.1% |
| CAESARS ENTERTAINMENT INC NE | CZR | 2.1% |
| ENTERGY CORP NEW | ETR | 2.0% |
| DIGITALBRIDGE GROUP INC | DBRG | 2.0% |
| EVERGY INC | EVRG | 2.0% |
| FIVE9 INC | FIVN 1 03/15/29 | 1.7% |
| MIDCAP FINANCIAL INVSTMNT CO | MFIC | 1.2% |
| MEDLINE INC | MDLN | 1.1% |
| WOLFSPEED INC | WOLF | 0.6% |
| OPTIMUM COMMUNICATIONS INC | OPTU | 0.6% |
| RAPID7 INC | RPD 1.25 03/15/29 | 0.5% |
| UL SOLUTIONS INC | ULS | 0.4% |
| MERCER INTL INC | MERC | 0.2% |
| ELI LILLY & CO | LLY | 0.2% |
| MERCK & CO INC | MRK | 0.2% |
| NOVARTIS AG | NVS | 0.1% |
| ASTRAZENECA PLC | AZN | 0.1% |
| SANOFI SA | SNY | 0.1% |
| PFIZER | PFE | 0.1% |
Net Portfolio Value ChangeQ1 2026
- $1.0BPrior quarter
- $0.5BCurrent quarter
- $-0.4BNet delta
- -45.4%% change
Methodology & FAQ
How Diameter Capital Partners LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Diameter Capital Partners LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Diameter Capital Partners LP buy in Q1 2026?
In Q1 2026, Diameter Capital Partners LP initiated 7 new positions (NEBIUS GROUP N.V. (NBIS 1.25 03/15/31), NEBIUS GROUP N.V. (NBIS 2.625 03/15/33 .), FORTUNE BRANDS INNOVATIONS I (FBIN), PG&E CORP (PCG), UWM HOLDINGS CORPORATION (UWMC), VISTANCE NETWORKS INC (VISN), COLUMBUS MCKINNON CORP N Y (CMCO)); bought more shares of UNITI GROUP LLC (UNIT), SLR INVESTMENT CORP (SLRC), BARINGS BDC INC (BBDC), PENNANTPARK FLOATING RATE CA (PFLT), NUVEEN CHURCHILL DIRECT LEND (NCDL).
What stocks did Diameter Capital Partners LP sell in Q1 2026?
In Q1 2026, Diameter Capital Partners LP fully sold 23 positions (TELEPHONE & DATA SYS INC (TDS), ALIBABA GROUP HLDG LTD (BABA 0.5 06/01/31), FS KKR CAP CORP (FSK), AES CORP (AES), BAIN CAP GSS INVT CORP (BCSS/U), CAESARS ENTERTAINMENT INC NE (CZR), ENTERGY CORP NEW (ETR), DIGITALBRIDGE GROUP INC (DBRG), EVERGY INC (EVRG), FIVE9 INC (FIVN 1 03/15/29), MIDCAP FINANCIAL INVSTMNT CO (MFIC), MEDLINE INC (MDLN), WOLFSPEED INC (WOLF), OPTIMUM COMMUNICATIONS INC (OPTU), RAPID7 INC (RPD 1.25 03/15/29), UL SOLUTIONS INC (ULS), MERCER INTL INC (MERC), ELI LILLY & CO (LLY), MERCK & CO INC (MRK), NOVARTIS AG (NVS), ASTRAZENECA PLC (AZN), SANOFI SA (SNY), PFIZER (PFE)); reduced holdings in JAMES HARDIE INDS PLC (JHX), MASTERBRAND INC (MBC), ECHOSTAR CORP (SATS), RH (RH), SILA REALTY TRUST INC (SILA) — the largest 5 of 7 reductions.
Which positions did Diameter Capital Partners LP initiate in Q1 2026?
Diameter Capital Partners LP established 7 new positions in Q1 2026: NEBIUS GROUP N.V. (NBIS 1.25 03/15/31, 7.4%), NEBIUS GROUP N.V. (NBIS 2.625 03/15/33 ., 7.1%), FORTUNE BRANDS INNOVATIONS I (FBIN, 5.1%), PG&E CORP (PCG, 4.0%), UWM HOLDINGS CORPORATION (UWMC, 4.0%), VISTANCE NETWORKS INC (VISN, 2.8%), COLUMBUS MCKINNON CORP N Y (CMCO, 2.0%).
Which existing positions saw the largest allocation increases for Diameter Capital Partners LP in Q1 2026?
Of 5 existing positions with share-count increases in Q1 2026, the largest were: UNITI GROUP LLC (UNIT, +9.1% weight, +278.8% shares), SLR INVESTMENT CORP (SLRC, +1.6% weight, +109.2% shares), BARINGS BDC INC (BBDC, +1.4% weight, +52.3% shares), PENNANTPARK FLOATING RATE CA (PFLT, +1.4% weight, +39.7% shares), NUVEEN CHURCHILL DIRECT LEND (NCDL, +1.7% weight, +13.0% shares).
Which positions did Diameter Capital Partners LP fully exit in Q1 2026?
Diameter Capital Partners LP fully exited 23 positions in Q1 2026: TELEPHONE & DATA SYS INC (TDS, last-reported weight 4.6%), ALIBABA GROUP HLDG LTD (BABA 0.5 06/01/31, last-reported weight 4.3%), FS KKR CAP CORP (FSK, last-reported weight 3.5%), AES CORP (AES, last-reported weight 2.9%), BAIN CAP GSS INVT CORP (BCSS/U, last-reported weight 2.1%), CAESARS ENTERTAINMENT INC NE (CZR, last-reported weight 2.1%), ENTERGY CORP NEW (ETR, last-reported weight 2.0%), DIGITALBRIDGE GROUP INC (DBRG, last-reported weight 2.0%), EVERGY INC (EVRG, last-reported weight 2.0%), FIVE9 INC (FIVN 1 03/15/29, last-reported weight 1.7%), MIDCAP FINANCIAL INVSTMNT CO (MFIC, last-reported weight 1.2%), MEDLINE INC (MDLN, last-reported weight 1.1%), WOLFSPEED INC (WOLF, last-reported weight 0.6%), OPTIMUM COMMUNICATIONS INC (OPTU, last-reported weight 0.6%), RAPID7 INC (RPD 1.25 03/15/29, last-reported weight 0.5%), UL SOLUTIONS INC (ULS, last-reported weight 0.4%), MERCER INTL INC (MERC, last-reported weight 0.2%), ELI LILLY & CO (LLY, last-reported weight 0.2%), MERCK & CO INC (MRK, last-reported weight 0.2%), NOVARTIS AG (NVS, last-reported weight 0.1%), ASTRAZENECA PLC (AZN, last-reported weight 0.1%), SANOFI SA (SNY, last-reported weight 0.1%), PFIZER (PFE, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Diameter Capital Partners LP in Q1 2026?
Of 7 existing positions with share-count reductions in Q1 2026, the largest were: JAMES HARDIE INDS PLC (JHX, -2.0% weight, -95.0% shares), MASTERBRAND INC (MBC, -4.5% weight, -74.3% shares), ECHOSTAR CORP (SATS, -9.9% weight, -61.0% shares), RH (RH, -0.5% weight, -57.9% shares), SILA REALTY TRUST INC (SILA, 0.5% weight, -40.0% shares), ARDAGH METAL PACKAGING S A (AMBP, 1.2% weight, -16.9% shares), LIBERTY MEDIA CORP DEL (LINTA 3.75 02/15/30, 0.0% weight, -0.1% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.