CASPIAN CAPITAL LP

CIK 0001518999 · Q1 2026

13F Equity AUM

$102.8M

-32.0% QoQ

Positions

-2 QoQ

AUM Rank

#9,853

Top 79%

Skill Alpha (FF)

-30.5%/yr^ns

No Clear Edge

Rank #8,204 · Top 100%

vs S&P +8.2%/yr (unadj.)

Quarters Tracked

~11 years

Portfolio Concentration

Top 5: 90.1%Top 10: 100.0%Top 20: 100.0%

BLCO30.9%

FIP25.0%

ATRO17.4%

FTAIN11.1%

CTEV5.7%

HDSN4.2%

NRA3.1%

XPOF2.6%

SDAWW0.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Industrials53.5%

Healthcare36.6%

Basic Materials4.2%

Utilities3.1%

Consumer Cyclical2.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 9Median: 5.66%Avg: 11.11%

0–0.5%

1(0.0%)

0.5–1%

0(0.0%)

1–3%

1(2.6%)

3–5%

2(7.3%)

5%+

5(90.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 8Unique: 1vs 20 funds

0.1%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

0.2%

BlackRock, Inc.

0.2%

VANGUARD CAPITAL MANAGEMENT LLC

0.2%

STATE STREET CORP

0.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.2%

GEODE CAPITAL MANAGEMENT, LLC

0.2%

BANK OF AMERICA CORP /DE/

0.1%

JPMORGAN CHASE & CO

0.1%

FMR LLC

0.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased2Decreased1Exited3

New Positions

NRA3.1%

+22K

Increased

CTEV5.7%

+106K(+43%)

ATRO17.4%

+40K(+18%)

Decreased

FTAIN11.1%

-65,000(-58%)

Exited

CCO

-9,275,000

PACS

-381,195

FUN

-276,225

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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