CASPIAN CAPITAL LP
Long book
$102.8M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+11.8%
SPY +14.8%
Turnover
33%
of book per quarter
Strategy in plain words
auto-generated from filingsCASPIAN CAPITAL LP is a diversified fundamental manager, running a $102.8M US long book across 9 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: BAUSCH + LOMB CORP, FTAI INFRASTRUCTURE INC, ASTRONICS CORP, FTAI AVIATION LTD, CLARITEV CORP.
Over the last 5 quarters its long book ran on average 3.5pp per quarter ahead of the S&P 500, beating the index in 3 of 5 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+31.0%
Q2 2024
+12.7%
Q3 2024
-14.3%
Q4 2025
-0.5%
Q1 2026
+11.8%
Sector allocation
Industrials 42%
Healthcare 31%
Services media 19%
Consumer discretionary 4%
Utilities 3%
Long book by quarter
What does CASPIAN CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BLCO BAUSCH + LOMB CORP | Healthcare | 2.0M | $31.8M | 30.9% | Held |
| FIP FTAI INFRASTRUCTURE INC | Industrials | 5.2M | $25.7M | 25.0% | Held |
| ATRO ASTRONICS CORP | Industrials | 267.7K | $17.9M | 17.4% | +17.6% |
| FTAI FTAI AVIATION LTD | Services media | 46.4K | $11.4M | 11.1% | -58.3% |
| CTEV CLARITEV CORP | Services media | 356.3K | $5.8M | 5.7% | +42.5% |
| HDSN HUDSON TECHNOLOGIES INC | Consumer discretionary | 728.3K | $4.3M | 4.2% | Held |
| NRG NRG ENERGY INC | Utilities | 22.0K | $3.2M | 3.1% | New |
| XPOF XPONENTIAL FITNESS INC-A | Services media | 450.4K | $2.7M | 2.6% | Held |
13F filing history
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