# Darsana Capital Partners LP

> Darsana Capital Partners LP is an SEC-registered investment advisory firm in New York, NY, registered since 2014, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 6, 2026.

- CRD: 170862
- Filed as: DARSANA CAPITAL PARTNERS LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/170862
- AdvisorCensus page: https://advisorcensus.com/firm/darsana-capital-partners-lp-new-york-ny-170862

## Quick answers

**How is Darsana Capital Partners LP compensated?**
On its Form ADV (Item 5.E, October 2026), Darsana Capital Partners LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does Darsana Capital Partners LP charge?**
Its Form ADV Part 2A brochure dated March 6, 2026 states: Asset-based fee: 1.5% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Darsana Capital Partners LP located?**
Darsana Capital Partners LP's principal office is in New York, NY, according to its Form ADV.

**Is Darsana Capital Partners LP registered with the SEC or a state?**
Darsana Capital Partners LP is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 170862.

**How much does Darsana Capital Partners LP manage?**
Darsana Capital Partners LP reports $16,667,644,521 in regulatory assets under management in its Form ADV filing dated March 6, 2026 (100% discretionary).

**How have Darsana Capital Partners LP's assets and staff changed since 2021?**
In the Form ADV data for Darsana Capital Partners LP: Regulatory assets under management: $7,282,868,849 in the October 2021 data and $16,667,644,521 in the October 2026 data, up 129%. Total employees: 18 in October 2021 and 23 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Darsana Capital Partners LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5).

**Does Darsana Capital Partners LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/170862

**What changed in Darsana Capital Partners LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $10,012,799,567 to $16,667,644,521 (+66%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 6, 2026)

- Asset-based fee: 1.5% of assets a year

> Darsana or its affiliates may be entitled to receive a quarterly asset-based management fee/administrative allocation of 1.5% annualized for management and administrative services provided to the Funds.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $16,667,644,521
- Discretionary: $16,667,644,521
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $16,667,644,521 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2014 (12 years)
- Employees: 23 total, 11 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- LinkedIn @darsana-capital-partners-lp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,282,868,849 | 18 | August 2, 2021 |
| October 2022 | $7,238,013,995 | 19 | September 6, 2022 |
| October 2023 | $6,725,719,521 | 23 | March 9, 2023 |
| October 2024 | $8,086,835,042 | 23 | March 11, 2024 |
| October 2025 | $10,012,799,567 | 22 | March 6, 2025 |
| October 2026 | $16,667,644,521 | 23 | March 6, 2026 |

Regulatory assets under management: $7,282,868,849 in the October 2021 data and $16,667,644,521 in the October 2026 data, up 129%.
Total employees: 18 in October 2021 and 23 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $10,012,799,567 to $16,667,644,521 (+66%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Darsana Capital Partners LP (CRD 170862): Form ADV filing data as of October 2026.