Dilation Capital Management LP
Dilation Capital Management LP reported 22 US-listed holdings worth $200.0 million in its 13F for the quarter ended 30 September 2026, filed 13 October 2026. Its largest: Timken Co. (9.2%), Howmet Aerospace Inc. (9.0%) and Forgent Power Solutions Inc (8.7%). Against the quarter before, it opened 8 positions, added to 6, trimmed 8 and sold out of 6.
The 14 largest of its 22 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +36.2% over the 7 quarters to 30 September 2026, against +30.1% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 8
- ServiceNow, Inc. NOW$12.3 million
- Microsoft Corp. MSFT$8.0 million
- KKR & Co. Inc. KKR$6.9 million
- Palo Alto Networks Inc. PANW$6.0 million
- Yandex N V NBIS$5.0 million
- Rocket Cos Inc. RKT$3.8 million
- Hut 8 Corp. HUT$3.2 million
- Applied Digital Corp. APLD$3.0 million
Added to 6
- Forgent Power Solutions Inc FPS+287,465 shares · +163%
- Howmet Aerospace Inc. HWM+35,790 shares · +81%
- Nokia Corporation NOK+702,100 shares · +85%
- NVIDIA Corp. NVDA+22,970 shares · +78%
- ASE Technology Holding Co., Ltd. ASX+82,263 shares · +42%
- Canadian Pacific Kansas City LT CP+13,910 shares · +13%
Trimmed 8
- Sandisk Corp. SNDK-9,865 shares · -86%
- Boeing Co. BA-60,461 shares · -48%
- Sherwin Williams Co. SHW-23,265 shares · -50%
- General Electric Co. GE-20,635 shares · -39%
- ASML Holding N.V. ASML-2,455 shares · -45%
- Taiwan Semiconductor Manufacturing Company Limited TSM-3,170 shares · -21%
- Lumentum Holdings Inc. LITE-1,487 shares · -25%
- Timken Co. TKR-8,375 shares · -5%
Sold out of 6
- Western Digital Corp. WDC$13.0 million last quarter
- Celestica Inc. CLS$11.8 million last quarter
- Credo Technology Group Holdi CRDO$10.0 million last quarter
- GDS Hldgs Ltd GDS$9.5 million last quarter
- Space Exploration Techn Corp. Class A Com STK SPCX$7.0 million last quarter
- Rocket Lab Corp. RKLB$3.7 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Timken Co. TKR | 157.6K | $18.4 million | 9.20% | -8.4K |
| Howmet Aerospace Inc. HWM | 79.9K | $18.1 million | 9.03% | +35.8K |
| Forgent Power Solutions Inc FPS | 463.3K | $17.3 million | 8.68% | +287.5K |
| Nokia Corporation NOK | 1.5M | $15.5 million | 7.75% | +702.1K |
| ASE Technology Holding Co., Ltd. ASX | 280.2K | $12.5 million | 6.23% | +82.3K |
| ServiceNow, Inc. NOW | 92.0K | $12.3 million | 6.17% | new |
| Boeing Co. BA | 64.6K | $12.0 million | 6.01% | -60.5K |
| NVIDIA Corp. NVDA | 52.5K | $12.0 million | 6.00% | +23.0K |
| Canadian Pacific Kansas City LT CP | 125.1K | $10.6 million | 5.32% | +13.9K |
| General Electric Co. GE | 31.8K | $9.9 million | 4.96% | -20.6K |
| Microsoft Corp. MSFT | 15.7K | $8.0 million | 4.02% | new |
| Sherwin Williams Co. SHW | 23.4K | $7.5 million | 3.78% | -23.3K |
| KKR & Co. Inc. KKR | 75.9K | $6.9 million | 3.46% | new |
| Palo Alto Networks Inc. PANW | 15.0K | $6.0 million | 2.98% | new |
| ASML Holding N.V. ASML | 3.0K | $5.5 million | 2.73% | -2.5K |
| Taiwan Semiconductor Manufacturing Company Limited TSM | 11.7K | $5.3 million | 2.67% | -3.2K |
| Yandex N V NBIS | 21.2K | $5.0 million | 2.50% | new |
| Lumentum Holdings Inc. LITE | 4.4K | $4.3 million | 2.15% | -1.5K |
| Rocket Cos Inc. RKT | 327.8K | $3.8 million | 1.89% | new |
| Hut 8 Corp. HUT | 37.4K | $3.2 million | 1.61% | new |
| Applied Digital Corp. APLD | 123.6K | $3.0 million | 1.51% | new |
| Sandisk Corp. SNDK | 1.6K | $2.7 million | 1.35% | -9.9K |