First Trust Capital Management L.P.

CIK 0001604488 · Q2 2026

13F Equity AUM

$1.7B

-9.8% QoQ

Positions

161

-20 QoQ

AUM Rank

#1,707

Top 19%

Skill Alpha (FF)

+0.2%/yr^ns

No Clear Edge

Rank #2,550 · Top 31%

vs S&P -8.4%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 39.3%Top 10: 56.6%Top 20: 66.5%

TMHC12.5%

GTLS10.5%

NUVL6.0%

NSA5.4%

APGE4.8%

SILA4.3%

WBS3.8%

JHG3.6%

EA2.9%

BLD2.7%

Others (151)43.4%

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

Sector Allocation

Financial Services24.6%

Unclassified18.9%

Healthcare13.6%

Industrials13.3%

Consumer Cyclical13.2%

Real Estate12.6%

Communication Services2.9%

Other0.9%

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

Position Sizing

Positions: 161Median: 0.24%Avg: 0.62%

0–0.5%

132(28.2%)

0.5–1%

15(9.8%)

1–3%

6(11.1%)

3–5%

4(16.6%)

5%+

4(34.5%)

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

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Portfolio Overlap

Shared: 0Unique: 161vs 20 funds

0%Low

161

Fund positions

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.

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Position Changes This Quarter

New41Increased6Decreased15Exited62

New Positions

TMHC12.5%

+3.0M

NUVL6.0%

+837K

APGE4.8%

+625K

SILA4.3%

+2.5M

JHG3.6%

+1.2M

BLD2.7%

+110K

AVNS1.7%

+1.2M

WSR1.2%

+1.1M

CPRX0.8%

+416K

ARES ACQUISITION COR…0.7%

+1.2M

Increased

DBRG1.2%

+1.3M(+1409%)

WBS3.8%

+351K(+70%)

NSA5.4%

+255K(+14%)

GTLS10.5%

+235K(+37%)

WES0.0%

+380(+7%)

MPLX0.0%

+131(+3%)

Decreased

DRUGS MADE IN AMER A…0.5%

-1,456,041(-65%)

CUBWW0.5%

-1,295,000(-60%)

MELAR ACQUISITION CO…0.1%

-1,159,999(-83%)

ANSC0.5%

-607,905(-47%)

GRAF-WT0.4%

-325,728(-32%)

EA2.9%

-165,927(-41%)

D. BORAL ARC ACQ I C…0.2%

-115,130(-24%)

COLUMBUS CIRCLE CAP …0.3%

-105,509(-18%)

AXIOM INTELLIGENCE A…0.3%

-100,254(-18%)

CEPO0.2%

-80,792(-20%)

Exited

-1,327,989

-2,336,019

-479,403

-1,599,172

-975,799

CWAN

-2,154,188

TERN

-904,161

VRE

-2,480,213

-1,842,189

DAWN

-1,496,007

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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