Caspian Capital LP
New York, NY
$176m in 13 US stocks at the end of 30 June 2026. The top 10 are 96.5% of the money. It changed about 36.4% of the portfolio this quarter.
Value
$176m
Stocks
13
Top 10 share
96.5%
Turnover
36.4%
What changed this quarter
New
Bought for the first time this quarter.
- Ishares TRHYG22.7% of the fund
- Union PacificUNP6.5% of the fund
- Azul S AAZUL5.3% of the fund
- A2Z Cust2mate SolutionsAZ1.7% of the fund
Added
Bought more of a stock they already held.
- AstronicsATRO13.2% of the fund+7%
- NRG EnergyNRG3.3% of the fund+82%
Cut
Sold some of their stake.
- ClaritevCTEV3.5% of the fund-49%
Sold out
Sold their entire stake.
None this quarter.
Holdings
- Ishares TRHYG
- Share
- 22.7%
- Value
- $40m
- Shares
- 500,000
New
- Azul S AAZUL
- Share
- 5.3%
- Value
- $9m
- Shares
- 1,034,524
New
- Suncar Technology GroupSDAWW
- Share
- <0.1%
- Value
- $8,150
- Shares
- 50,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Ishares TRHYG | 22.7% | $40m | 500,000 | New |
| Bausch & LombBLCO | 18.8% | $33m | 1,999,043 | Held |
| FTAI InfrastructureFIP | 13.7% | $24m | 5,211,307 | Held |
| AstronicsATRO | 13.2% | $23m | 285,965 | +7% |
| FTAI AviationFTAI | 7.1% | $13m | 46,441 | Held |
| Union PacificUNP | 6.5% | $11m | 42,000 | New |
| Azul S AAZUL | 5.3% | $9m | 1,034,524 | New |
| ClaritevCTEV | 3.5% | $6m | 180,826 | -49% |
| NRG EnergyNRG | 3.3% | $6m | 40,000 | +82% |
| Hudson TechnologiesHDSN | 2.4% | $4m | 728,306 | Held |
| Xponential FitnessXPOF | 1.8% | $3m | 450,355 | Held |
| A2Z Cust2mate SolutionsAZ | 1.7% | $3m | 518,476 | New |
| Suncar Technology GroupSDAWW | <0.1% | $8,150 | 50,000 | Held |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 16.5% since 31 December 2025.
Where the money is
Industrials37.5%
Health care18.8%
Technology10.6%
Utilities3.3%
Retail & consumer1.8%
Other28.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.