First Trust Capital Management L.P. — 13F Holdings & Portfolio
CIK 1604488 · latest 13F-HR filed 2026-11-06
First Trust Capital Management L.P. manages $2.08B in 13F-reported U.S. long-equity assets across 185 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are SPCX (25.67%), WBD (6.65%), ATKR (6.08%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 60 new positions and exited 36; 27 existing positions rose in reported value and 6 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$2.08B
Long-equity book
Holdings
185
Distinct positions
Period
2026-09-30
Filed 2026-11-06
Q/Q Activity
+60 / −36 / ↑27 / ↓6
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26SPCX25.7% · newWBD6.7% · newATKR6.1% · newCZR3.9% · +588%CBZ3.6% · newLXP3.2% · newITGR3.1% · newBLFS2.7% · newACVA1.7% · newBZH1.7% · newHZO1.6% · newQRVO1.4% · newUTZ1.3% · newACA1.1% · newBWMN1.0% · newROKU0.9% · newWEAV0.8% · newTCBK0.8% · newSDHI0.7% · 0%DMII0.6% · +22%PSBD0.6% · 0%CAII0.6% · +64%VNME0.5% · 0%SOUL0.5% · 0%CEPF0.5% · 0%HYAC.U0.5% · newGIX0.5% · +1543%CUB0.4% · 0%DAAQ0.4% · 0%CHAR0.4% · 0%IGAC0.4% · +71%DMAA0.4% · 0%AAC0.4% · newAFJK0.4% · -0%WENN0.4% · +37%MESH0.4% · 0%BDCI0.4% · 0%KEYY0.4% · 0%DYOR0.3% · +28%SCII0.3% · 0%XCBE0.3% · newIACO0.3% · +30%EVAC0.3% · 0%APMCU0.3% · 0%CEPV0.3% · 0%APXT0.3% · -7%KOYN0.3% · +50%CASH0.3% · newBCCQ0.3% · newJACS0.3% · 0%TDWD0.3% · +50%CRAN0.3% · 0%IRHO0.3% · 0%FMAC0.3% · 0%MLAA0.3% · 0%MEVO0.3% · 0%DGAC0.3% · newYICC0.3% · newPLCI0.3% · newACGC0.3% · +92%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
5 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 58.3%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Apr 30, 2026.
Assets Under Management
$309.24B
Discretionary
$232.69B
Employees
542
Accounts
6,316
Address
120 E. LIBERTY DRIVE
SUITE 400
WHEATON, IL 60187
SUITE 400
WHEATON, IL 60187
Phone
(630) 765-8000
This firm reports 3 disclosure items on its registration.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BOWEN, JAMES, ALLEN Control | CHIEF EXECUTIVE OFFICER since Dec 2010 | Less than 5% | Individual |
| DEHLER, KELLY, CATHERINE Control | CHIEF COMPLIANCE OFFICER since Jun 2021 | Less than 5% | Individual |
| DYKAS, JAMES, MARTIN Control | CHIEF FINANCIAL OFFICER / MANAGING DIRECTOR since Jan 2016 | Less than 5% | Individual |
| GRACE PARTNERS OF DUPAGE L.P. Control | LIMITED PARTNER since Aug 1991 | 75% or more | Domestic Entity |
| HALL, ROBERT, SCOTT Control | MANAGING DIRECTOR since Jan 2002 | Less than 5% | Individual |
| JARDINE, WILLIAM, SCOTT Control | GENERAL COUNSEL since Mar 1995 | Less than 5% | Individual |
| LINDQUIST, DANIEL, JOEL Control | MANAGING DIRECTOR since Jul 2012 | Less than 5% | Individual |
| MCGAREL, DAVID, GERARD Control | MANAGING DIRECTOR/CHIEF INVESTMENT OFFICER since Jul 2012 | Less than 5% | Individual |
| MCGAREL, DAVID, GERARD Control | CHIEF OPERATING OFFICER since Jan 2016 | Less than 5% | Individual |
| ROGGENSACK, ANDREW, SCOTT Control | PRESIDENT since Dec 2010 | Less than 5% | Individual |
| THE CHARGER CORPORATION Control | GENERAL PARTNER since Aug 1991 | Less than 5% | Domestic Entity |
| AJM VENTURES LLC Control Indirect owner via THE CHARGER CORPORATION | SHAREHOLDER since Oct 2010 | 75% or more | Domestic Entity |
| BOWEN, JAMES, ALLEN Control Indirect owner via AJM VENTURES LLC | SOLE SHAREHOLDER since Oct 2010 | 75% or more | Individual |
| THE CHARGER CORPORATION Control Indirect owner via GRACE PARTNERS OF DUPAGE L.P. | GENERAL PARTNER since Aug 1991 | General partner, trustee or manager | Domestic Entity |
Ownership & leadership changes · 5 filings with changes since Mar 30, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Jun 21, 2021 filing
- No longer listedBROWN, KATHLEEN, WIELAND · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Feb 2008
- AddedDEHLER, KELLY, CATHERINE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 30, 2017 filing
- No longer listedMCALISTER, RONALD, DEAN · MANAGING DIRECTOR · Less than 5% · control person · listed since Apr 1995
Jan 27, 2016 filing
- ChangedDYKAS, JAMES, MARTIN · title CHIEF FINANCIAL OFFICER → CHIEF FINANCIAL OFFICER / MANAGING DIRECTOR
Jan 20, 2016 filing
- No longer listedBRADLEY, MARK, RAYMOND · CHIEF OPERATING OFFICER / MANAGING DIRECTOR/CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Jan 1999
- AddedDYKAS, JAMES, MARTIN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ChangedMCGAREL, DAVID, GERARD · title MANAGING DIRECTOR/CHIEF INVESTMENT OFFICER → CHIEF OPERATING OFFICER / MANAGING DIRECTOR/CHIEF INVESTMENT OFFICER
Mar 28, 2013 filing
- No longer listedCAREY, ROBERT, FRANKLIN · CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Jan 2003
- AddedLINDQUIST, DANIEL, JOEL · MANAGING DIRECTOR · Less than 5% · control person
- AddedMCGAREL, DAVID, GERARD · MANAGING DIRECTOR/CHIEF INVESTMENT OFFICER · Less than 5% · control person
Mar 30, 2012 filing (earliest on record)
- ListedAJM VENTURES LLC · SHAREHOLDER · 75% or more · indirect via THE CHARGER CORPORATION · control person
- ListedBOWEN, JAMES, ALLEN · SOLE SHAREHOLDER · 75% or more · indirect via AJM VENTURES LLC · control person
- ListedBOWEN, JAMES, ALLEN · CHIEF EXECUTIVE OFFICER · Less than 5% · control person
- ListedBRADLEY, MARK, RAYMOND · CHIEF OPERATING OFFICER / MANAGING DIRECTOR/CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ListedBROWN, KATHLEEN, WIELAND · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedCAREY, ROBERT, FRANKLIN · CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ListedGRACE PARTNERS OF DUPAGE L.P. · LIMITED PARTNER · 75% or more · control person
- ListedHALL, ROBERT, SCOTT · MANAGING DIRECTOR · Less than 5% · control person
- ListedJARDINE, WILLIAM, SCOTT · GENERAL COUNSEL · Less than 5% · control person
- ListedMCALISTER, RONALD, DEAN · MANAGING DIRECTOR · Less than 5% · control person
- ListedROGGENSACK, ANDREW, SCOTT · PRESIDENT · Less than 5% · control person
- ListedTHE CHARGER CORPORATION · GENERAL PARTNER · Less than 5% · control person
- ListedTHE CHARGER CORPORATION · GENERAL PARTNER · General partner, trustee or manager · indirect via GRACE PARTNERS OF DUPAGE L.P. · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- CAESARS ENTERTAINMENT INC NE$69.6M +576.0%
- GIGCAPITAL9 CORP$9.3M +1556.6%
- COLLECTIVE ACQUISITION CORP$4.6M +66.1%
- INVEST GREEN ACQUISITION COR$3.6M +73.1%
- ART TECHNOLOGY ACQUISITION C$3.5M +535.9%
Top Trims
- RF ACQUISITION CORP II-$3.7M -65.5%
- INFLECTION PT ACQUISIT CORP-$1.7M -38.7%
- PALMER SQUARE CAPITAL BDC IN-$682.8K -5.1%
- JENA ACQUISITION CORP II-$621.3K -27.1%
- APEX TREAS CORP-$405.7K -6.2%
New Positions
- SPACE EXPLORATION TECHN CORP$533.1M
- WARNER BROS DISCOVERY INC$138.2M
- ATKORE INC$126.3M
- CBIZ INC$74.3M
- LXP INDUSTRIAL TRUST$65.6M
Exited Positions
- TAYLOR MORRISON HOME CORP$215.4M
- CHART INDS INC$181.0M
- NUVALENT INC$103.4M
- NATIONAL STORAGE AFFILIATES$92.0M
- APOGEE THERAPEUTICS INC$83.0M
First Trust Capital Management L.P. Holdings (2026-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | SPACE EXPLORATION TECHN CORP | SPCX | 84615Q103 | $533.1M | 25.67% | 3,533,950 | SH |
| 2 | WARNER BROS DISCOVERY INC | WBD | 934423104 | $138.2M | 6.65% | 4,465,957 | SH |
| 3 | ATKORE INC | ATKR | 047649108 | $126.3M | 6.08% | 1,333,296 | SH |
| 4 | CAESARS ENTERTAINMENT INC NE | CZR | 12769G100 | $81.7M | 3.93% | 2,754,430 | SH |
| 5 | CBIZ INC | CBZ | 124805102 | $74.3M | 3.58% | 1,359,439 | SH |
| 6 | LXP INDUSTRIAL TRUST | LXP | 529043408 | $65.6M | 3.16% | 1,076,244 | SH |
| 7 | INTEGER HLDGS CORP | ITGR | 45826H109 | $64.2M | 3.09% | 508,487 | SH |
| 8 | BIOLIFE SOLUTIONS INC | BLFS | 09062W204 | $55.4M | 2.67% | 1,425,085 | SH |
| 9 | ACV AUCTIONS INC | ACVA | 00091G104 | $35.9M | 1.73% | 3,438,759 | SH |
| 10 | BEAZER HOMES USA INC | BZH | 07556Q881 | $35.4M | 1.71% | 1,062,853 | SH |
| 11 | MARINEMAX INC | HZO | 567908108 | $33.3M | 1.60% | 636,478 | SH |
| 12 | QORVO INC | QRVO | 74736K101 | $28.6M | 1.38% | 250,000 | SH |
| 13 | UTZ BRANDS INC | UTZ | 918090101 | $26.3M | 1.27% | 1,846,516 | SH |
| 14 | ARCOSA INC | ACA | 039653100 | $23.8M | 1.15% | 162,800 | SH |
| 15 | BOWMAN CONSULTING GROUP LTD | BWMN | 103002101 | $20.8M | 1.00% | 488,411 | SH |
| 16 | ROKU INC | ROKU | 77543R102 | $19.1M | 0.92% | 125,140 | SH |
| 17 | WEAVE COMMUNICATIONS INC | WEAV | 94724R108 | $17.0M | 0.82% | 2,305,410 | SH |
| 18 | TRICO BANCSHARES | TCBK | 896095106 | $16.3M | 0.79% | 318,720 | SH |
| 19 | SIDDHI ACQUISITION CORP | SDHI | G8118C124 | $13.8M | 0.66% | 1,303,359 | SH |
| 20 | DRUGS MADE IN AMER ACQ II CO | DMII | G2851K104 | $13.2M | 0.64% | 1,298,429 | SH |
| 21 | PALMER SQUARE CAPITAL BDC IN | PSBD | 69702V107 | $12.7M | 0.61% | 1,288,337 | SH |
| 22 | COLLECTIVE ACQUISITION CORP | CAII | G22741105 | $11.5M | 0.55% | 1,150,063 | SH |
| 23 | VENDOME ACQUISITION CORP I | VNME | G9580A109 | $11.3M | 0.54% | 1,092,788 | SH |
| 24 | SOULPOWER ACQUISITION CORP | SOUL | G82745103 | $10.9M | 0.52% | 1,039,570 | SH |
| 25 | CANTOR EQUITY PARTNERS IV IN | CEPF | G1828E100 | $10.3M | 0.50% | 1,000,000 | SH |
| 26 | HAYMAKER ACQUISITION CORP V | HYAC.U | G43866121 | $10.0M | 0.48% | 994,826 | SH |
| 27 | GIGCAPITAL9 CORP | GIX | G3865B114 | $9.9M | 0.48% | 986,000 | SH |
| 28 | LIONHEART HOLDINGS | CUB | G5501C109 | $9.3M | 0.45% | 850,000 | SH |
| 29 | DIGITAL ASSET ACQUISITION CO | DAAQ | G2868C103 | $9.2M | 0.44% | 876,498 | SH |
| 30 | CHARLTON ARIA ACQUISITION CO | CHAR | G9877L107 | $9.1M | 0.44% | 828,750 | SH |
| 31 | INVEST GREEN ACQUISITION COR | IGAC | G4924G102 | $8.6M | 0.41% | 847,792 | SH |
| 32 | DRUGS MADE IN AMER ACQUTN CO | DMAA | G2847J104 | $8.6M | 0.41% | 786,459 | SH |
| 33 | ARES ACQUISITION CORP III | AAC | G3303U104 | $8.3M | 0.40% | 824,250 | SH |
| 34 | AIMEI HEALTH TECHNOLOGY CO L | AFJK | G01341109 | $8.2M | 0.39% | 677,008 | SH |
| 35 | WEN ACQUISITION CORP | WENN | G9R39C103 | $7.7M | 0.37% | 738,461 | SH |
| 36 | MESHFLOW ACQUISITION CORP | MESH | G6032N101 | $7.6M | 0.36% | 750,000 | SH |
| 37 | BTC DEV CORP | BDCI | G0701G109 | $7.5M | 0.36% | 738,849 | SH |
| 38 | KEYSTONE ACQUISITION CORP | KEYY | G52539106 | $7.5M | 0.36% | 749,998 | SH |
| 39 | INSIGHT DIGITAL PARTNERS II | DYOR | G4814G105 | $7.0M | 0.34% | 693,326 | SH |
| 40 | SC II ACQUISITION CORP | SCII | G7866D102 | $6.9M | 0.33% | 675,000 | SH |
| 41 | X3 ACQUISITION CORP LTD | XCBE | G9831H101 | $6.8M | 0.33% | 682,111 | SH |
| 42 | IDEA ACQUISITION CORP | IACO | G4727U100 | $6.5M | 0.31% | 649,998 | SH |
| 43 | EQV VENTURES AC CORP. II | EVAC | G3106Q102 | $6.5M | 0.31% | 627,045 | SH |
| 44 | AMPERCAP ACQUISITION CO | APMCU | G0344N123 | $6.3M | 0.30% | 630,601 | SH |
| 45 | CANTOR EQUITY PARTNERS V INC | CEPV | G1828S109 | $6.2M | 0.30% | 605,189 | SH |
| 46 | APEX TREAS CORP | APXT | G04104108 | $6.2M | 0.30% | 609,734 | SH |
| 47 | CSLM DIGITA ASSET ACQ CORP I | KOYN | G2584S101 | $6.2M | 0.30% | 599,188 | SH |
| 48 | PATHWARD FINANCIAL INC | CASH | 59100U108 | $6.1M | 0.30% | 86,398 | SH |
| 49 | BLEICHROEDER ACQUISITION COR | BCCQ | G1170M106 | $6.1M | 0.29% | 613,751 | SH |
| 50 | JACKSON ACQUISITION CO II | JACS | G4992A110 | $6.1M | 0.29% | 562,500 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-06 | $2.08B | 185 | 0001604488-26-000113 |
| 2026-06-30 | 2026-08-13 | $1.72B | 161 | 0001604488-26-000083 |
| 2026-03-31 | 2026-05-14 | $1.90B | 197 | 0001604488-26-000043 |
| 2025-12-31 | 2026-02-13 | $1.65B | 174 | 0001604488-26-000005 |
| 2025-09-30 | 2025-11-17 | $1.55B | 123 | 0001604488-25-000247 |
Filer Information
Address
225 W. WACKER DRIVE21ST FLOOR
CHICAGO, IL 60606
Phone
(872) 260-4182
Filing Manager
First Trust Capital Management L.P.
CHICAGO, IL
Signatory
Meredith Collette
Compliance Manager