Q3 2025 · 13F-HR
First Trust Capital Management L.P.holdings as filed
Filed 2025-11-17 · accession 0001604488-25-000247
$1.55B
Reported value
121
Positions
2025-09-30
Period end
The Brief · First Trust Capital Management L.P. · Q3 2025
AI · grounded in 13F
First Trust Capital Management L.P. established a new position in W9N0 worth $103.8M. The fund also opened new stakes in VRNA for $97M and VBTX for $86.1M. These additions coincided with the complete exit of positions in DNB and SWTXUSD, which reduced holdings by $97M and $91.3M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| G98196101 | W9N0 | WNS HLDGS LTD | $103.8M | 6.69% | 1,361,187 | Common | SOLE |
| 925050106 | VRNA | VERONA PHARMA PLC | $97.0M | 6.26% | 909,123 | Common | SOLE |
| 923451108 | VBTX | VERITEX HLDGS INC | $86.1M | 5.55% | 2,568,230 | Common | SOLE |
| 62482R107 | 07WA | MR COOPER GROUP INC | $72.8M | 4.70% | 345,573 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $58.0M | 3.74% | 120,000 | Common | SOLE |
| 285512109 | EA | ELECTRONIC ARTS INC | $50.4M | 3.25% | 250,000 | Common | SOLE |
| 04041L106 | ARISUSD | ARIS WATER SOLUTIONS INC | $45.5M | 2.93% | 1,844,935 | Common | SOLE |
| 487836108 | K | KELLANOVA | $39.0M | 2.51% | 475,313 | Common | SOLE |
| G0131Y100 | ANSC | AGRICULTURE & NAT SOL ACQ CO | $34.0M | 2.19% | 3,117,578 | Common | SOLE |
| 89157D105 | TRML | TOURMALINE BIO INC | $33.3M | 2.15% | 695,757 | Common | SOLE |
| 05368X102 | AVDX | AVIDXCHANGE HOLDINGS INC | $33.3M | 2.15% | 3,343,918 | Common | SOLE |
| G1000R101 | AAM | AA MISSION ACQUISITION CORP | $31.4M | 2.02% | 2,984,542 | Common | SOLE |
| G20315100 | ALF | CENTURION ACQUISITION CORP | $29.0M | 1.87% | 2,745,000 | Common | SOLE |
| N5749R100 | 2GH | MERUS N V | $23.1M | 1.49% | 245,354 | Common | SOLE |
| G2847J104 | DMAA | DRUGS MADE IN AMER ACQUTN CO | $23.0M | 1.49% | 2,242,500 | Common | SOLE |
| G4036C106 | GRAF | GRAF GLOBAL CORP | $22.5M | 1.45% | 2,139,248 | Common | SOLE |
| G5501C109 | CUB | LIONHEART HOLDINGS | $22.5M | 1.45% | 2,145,000 | Common | SOLE |
| G4035N103 | GPAT | GP-ACT III ACQUISITION CORP | $22.2M | 1.43% | 2,091,077 | Common | SOLE |
| G5S86M100 | LPAA | LAUNCH ONE ACQUISITION CORP | $21.7M | 1.40% | 2,070,000 | Common | SOLE |
| G1169T104 | MRLN | BLEICHROEDER ACQUISITION COR | $21.7M | 1.40% | 2,089,336 | Common | SOLE |
| 45828L108 | IAS | INTEGRAL AD SCIENCE HLDNG CO | $21.2M | 1.37% | 2,088,796 | Common | SOLE |
| 74346Y103 | PRO | PROS HOLDINGS INC | $20.4M | 1.32% | 892,412 | Common | SOLE |
| G5451A103 | LEGT | LEGATO MERGER CORP III | $19.3M | 1.25% | 1,801,191 | Common | SOLE |
| G8431T101 | SIMA | SIM ACQUISITION CORP. I | $19.0M | 1.22% | 1,800,000 | Common | SOLE |
| G2851K120 | DMIIU | DRUGS MADE IN AMER ACQ II CO | $18.7M | 1.21% | 1,880,554 | Common | SOLE |
| G9580A109 | VNME | VENDOME ACQUISITION CORP I | $18.4M | 1.18% | 1,850,000 | Common | SOLE |
| G7T16G103 | S3P | SAPIENS INTL CORP N V | $17.5M | 1.13% | 406,388 | Common | SOLE |
| 71377E105 | PFMTUSD | PERFORMANT HEALTHCARE INC | $17.5M | 1.13% | 2,259,250 | Common | SOLE |
| G8118C124 | SDHI | SIDDHI ACQUISITION CORP | $16.8M | 1.09% | 1,658,109 | Common | SOLE |
| G93Y09107 | — | VINE HILL CAP INVT CORP. | $16.8M | 1.08% | 1,565,314 | Common | SOLE |
| G4375F108 | HYAC | HAYMAKER ACQUISITION CORP IV | $16.5M | 1.07% | 1,456,966 | Common | SOLE |
| G93A7H104 | VACH | VOYAGER ACQUISITION CORP | $16.3M | 1.05% | 1,552,947 | Common | SOLE |
| 69702V107 | PSBD | PALMER SQUARE CAPITAL BDC IN | $15.8M | 1.02% | 1,288,338 | Common | SOLE |
| G8772L105 | TVA | TEXAS VENTURES ACQUISITION I | $15.0M | 0.97% | 1,399,005 | Common | SOLE |
| G6004G100 | MACI | MELAR ACQUISITION CORP. I | $14.7M | 0.95% | 1,400,000 | Common | SOLE |
| 73754Y100 | PTB | POTBELLY CORP | $14.6M | 0.94% | 857,701 | Common | SOLE |
| G6363K106 | — | NABORS ENERGY TRANSITION COR | $14.5M | 0.94% | 1,295,706 | Common | SOLE |
| 16935C109 | CHYM | CHIME FINL INC | $13.2M | 0.85% | 656,838 | Common | SOLE |
| G75751100 | RAC | RITHM ACQUISITION CORP | $12.3M | 0.79% | 1,201,200 | Common | SOLE |
| 98888T107 | ZIMV | ZIMVIE INC | $12.0M | 0.78% | 636,209 | Common | SOLE |
| G26745102 | POLE | ANDRETTI ACQUISITION CORP II | $11.8M | 0.76% | 1,130,809 | Common | SOLE |
| G75389109 | RFAI | RF ACQUISITION CORP II | $11.1M | 0.71% | 1,029,114 | Common | SOLE |
| G1051H101 | TACO | BERTO ACQUISITION CORP | $10.4M | 0.67% | 999,998 | Common | SOLE |
| G6301B101 | MLAC | MOUNTAIN LAKE ACQUISITION CO | $10.4M | 0.67% | 1,005,000 | Common | SOLE |
| G1828E100 | CEPF | CANTOR EQUITY PARTNERS IV IN | $10.2M | 0.66% | 1,000,000 | Common | SOLE |
| G4R12K123 | GSRFU | GSR IV ACQUISITION CORP | $9.6M | 0.62% | 945,923 | Common | SOLE |
| G6486E102 | NHIC | NEWHOLD INVT CORP III | $9.5M | 0.61% | 930,448 | Common | SOLE |
| G73944103 | RAAQ | REAL ASSET ACQUISITION CORP | $9.2M | 0.59% | 908,700 | Common | SOLE |
| G2868C103 | DAAQ | DIGITAL ASSET ACQUISITION CO | $9.0M | 0.58% | 884,398 | Common | SOLE |
| G9877L107 | CHAR | CHARLTON ARIA ACQUISITION CO | $8.6M | 0.55% | 828,750 | Common | SOLE |
| G82745103 | SOUL | SOULPOWER ACQUISITION CORP | $8.0M | 0.51% | 789,570 | Common | SOLE |
| G7375C108 | RANG | RANGE CAP ACQUISITION CORP | $7.7M | 0.50% | 750,000 | Common | SOLE |
| G01341109 | AFJK | AIMEI HEALTH TECHNOLOGY CO L | $7.7M | 0.50% | 680,000 | Common | SOLE |
| G8901A103 | TACH | TITAN ACQUISITION CORP | $7.6M | 0.49% | 750,000 | Common | SOLE |
| G0701G125 | BDCIU | BTC DEV CORP | $7.6M | 0.49% | 750,000 | Common | SOLE |
| G2867S109 | IPOD | DUNE ACQUISITION CORP II | $7.1M | 0.46% | 699,992 | Common | SOLE |
| G9008W105 | TDAC | TRANSLATIONAL DEV ACQUISITIO | $6.7M | 0.43% | 649,998 | Common | SOLE |
| G7134A104 | PLMK | PLUM ACQUISITION CORP IV | $6.7M | 0.43% | 650,000 | Common | SOLE |
| G2296A109 | CCCMUSD | COLUMBUS CIRCLE CAP CORP. I | $6.6M | 0.43% | 656,437 | Common | SOLE |
| G0750N104 | AXIN | AXIOM INTELLIGENCE AC CORP 1 | $6.5M | 0.42% | 650,000 | Common | SOLE |
| 67190B104 | OAKU | OAK WOODS ACQUISITION CORP | $6.4M | 0.41% | 526,103 | Common | SOLE |
| G3106Q102 | EVAC | EQV VENTURES AC CORP. II | $6.2M | 0.40% | 627,045 | Common | SOLE |
| G4992A110 | JACS | JACKSON ACQUISITION CO II | $5.9M | 0.38% | 567,500 | Common | SOLE |
| G63212107 | MBAV | M3BRIGADE ACQUISITION V CORP | $5.8M | 0.38% | 553,918 | Common | SOLE |
| G4002F109 | GTEN | GORES HLDGS X INC | $5.6M | 0.36% | 543,596 | Common | SOLE |
| G38648104 | GIG | GIGCAPITAL7 CORP | $5.4M | 0.35% | 508,164 | Common | SOLE |
| G0R38G104 | XRPN | ARMADA ACQUISITION CORP II | $5.2M | 0.34% | 500,000 | Common | SOLE |
| G86880104 | TAVI | TAVIA ACQUISITION CORP | $5.2M | 0.33% | 500,000 | Common | SOLE |
| G2124S108 | CHPG | CHAMPIONSGATE ACQUISITION CO | $5.0M | 0.32% | 496,935 | Common | SOLE |
| G7117W107 | PACH | PIONEER ACQUISITION I CORP | $5.0M | 0.32% | 500,000 | Common | SOLE |
| G3852D107 | GSHR | GESHER ACQUISITION CORP. II | $4.9M | 0.32% | 482,440 | Common | SOLE |
| G7633M104 | DRDB | ROMAN DBDR ACQUISITION CORP | $4.8M | 0.31% | 464,955 | Common | SOLE |
| G3933N116 | GTERA | GLOBA TERRA ACQUISITION COR | $4.7M | 0.30% | 473,583 | Common | SOLE |
| G81354105 | SBXD | SILVERBOX CORP IV | $4.7M | 0.30% | 445,168 | Common | SOLE |
| G7257A105 | PCAP | PROCAP ACQUISITION CORP | $4.6M | 0.30% | 451,695 | Common | SOLE |
| G3415K101 | FERA | FIFTH ERA ACQUISITION CORP I | $4.6M | 0.30% | 450,000 | Common | SOLE |
| G24979109 | CHAC | CRANE HBR ACQUISITION CORP | $4.6M | 0.29% | 450,000 | Common | SOLE |
| G3730U123 | FCRS/U | FUTURECREST ACQUISITION CORP | $4.2M | 0.27% | 400,000 | Common | SOLE |
| G8193F109 | SZZL | SIZZLE ACQUISITION CORP. II | $4.1M | 0.26% | 405,813 | Common | SOLE |
| G63221124 | MBVIU | M3-BRIGADE ACQUISITION VI CO | $4.0M | 0.26% | 400,000 | Common | SOLE |
| G17564108 | CRAQ | CAL REDWOOD ACQUISITION CORP | $4.0M | 0.26% | 400,000 | Common | SOLE |
| G2584S101 | KOYN | CSLM DIGITA ASSET ACQ CORP I | $4.0M | 0.26% | 400,000 | Common | SOLE |
| G0509J115 | AACB | ARTIUS II ACQUISITION INC | $3.9M | 0.25% | 380,000 | Common | SOLE |
| G7490F101 | RTAC | RENATUS TACTICAL ACQUIS | $3.8M | 0.24% | 346,662 | Common | SOLE |
| G4619M109 | HSPOF | HORIZON SPACE ACQUSTN I CORP | $3.7M | 0.24% | 300,000 | Common | SOLE |
| G7515A103 | RDAG | REPUBLIC DIGITAL ACQUISITION | $3.7M | 0.24% | 359,998 | Common | SOLE |
| G8377R101 | SVAC | SPRING VY ACQUISITION CORP I | $3.5M | 0.22% | 343,194 | Common | SOLE |
| G6757R105 | ONCH | 1RT ACQUISITION CORP. | $3.1M | 0.20% | 299,996 | Common | SOLE |
| G98659116 | MCGA | YORKVILLE ACQUISITION CORP. | $2.8M | 0.18% | 262,030 | Common | SOLE |
| G9R39C103 | WENN | WEN ACQUISITION CORP | $2.6M | 0.17% | 260,158 | Common | SOLE |
| G4569C127 | HVMCU | HIGHVIEW MERGER CORP | $2.5M | 0.16% | 250,000 | Common | SOLE |
| G3473K100 | FIGX | FIGX CAP ACQUISITION CORP. | $2.5M | 0.16% | 250,000 | Common | SOLE |
| G1368E106 | BLUW | BLUE WTR ACQUISITION CORP. I | $2.5M | 0.16% | 249,998 | Common | SOLE |
| G7309T102 | PAII | PYROPHYTE ACQUISITION CORP. | $2.5M | 0.16% | 250,000 | Common | SOLE |
| G3034H109 | EMCGF | EMBRACE CHANGE ACQUISITN COR | $2.4M | 0.16% | 200,000 | Common | SOLE |
| G2130T108 | INFQ | CHURCHILL CAP CORP X | $2.3M | 0.15% | 178,996 | Common | SOLE |
| G5093B105 | JENA | JENA ACQUISITION CORP II | $2.2M | 0.15% | 221,610 | Common | SOLE |
| G1331A108 | BACC | BLUE ACQUISITION CORP. | $2.1M | 0.14% | 212,216 | Common | SOLE |
| G1827P106 | CEPT | CANTOR EQUITY PARTNERS II IN | $2.1M | 0.14% | 200,000 | Common | SOLE |
| G9009S129 | BLZRU | TRAILBLAZER ACQUISITION CORP | $2.0M | 0.13% | 200,000 | Common | SOLE |
| G2254C121 | CCII | COHEN CIRCLE ACQUISIT CORP I | $2.0M | 0.13% | 200,000 | Common | SOLE |
| G2949D104 | DYNC | DYNAMIX CORP | $1.9M | 0.12% | 185,602 | Common | SOLE |
| G6861F104 | OYSE | OYSTER ENTERPRISES II ACQUIS | $1.5M | 0.10% | 150,000 | Common | SOLE |
| 07323B100 | BAYA | BAYVIEW ACQUISITION CORP | $1.5M | 0.10% | 128,340 | Common | SOLE |
| G52443119 | KVAC | KEEN VISION ACQUISITION CORP | $1.2M | 0.08% | 105,511 | Common | SOLE |
| 45674M101 | INFA1EUR | INFORMATICA INC | $1.2M | 0.08% | 48,544 | Common | SOLE |
| 401617105 | GU9 | GUESS INC | $1.1M | 0.07% | 68,808 | Common | SOLE |
| G52258111 | KFII | K&F GROWTH ACQUISITION CORP | $1.0M | 0.07% | 102,342 | Common | SOLE |
| G1828A108 | CAEP | CANTOR EQUITY PARTNERS III I | $1.0M | 0.07% | 100,000 | Common | SOLE |
| G82617104 | SOCA | SOLARIUS CAPITAL ACQU CORP | $996,000 | 0.06% | 100,000 | Common | SOLE |
| 35909D109 | FYBR | FRONTIER COMMUNICATIONS PARE | $900,695 | 0.06% | 24,115 | Common | SOLE |
| G1993W109 | CAPN | CAYSON ACQUISITION CORP | $785,250 | 0.05% | 75,000 | Common | SOLE |
| G6439S109 | NTWO | NEWBURY STR II ACQUISITION C | $700,336 | 0.05% | 67,600 | Common | SOLE |
| 868873100 | SU6 | SURMODICS INC | $577,923 | 0.04% | 19,335 | Common | SOLE |
| G0273J101 | AEXA | AMERICAN EXCEPTIONALISM ACQU | $546,500 | 0.04% | 50,000 | Common | SOLE |
| 74267C106 | PRA | PROASSURANCE CORP | $510,675 | 0.03% | 21,287 | Common | SOLE |
| 92343X100 | VTY | VERINT SYS INC | $261,225 | 0.02% | 12,900 | Common | SOLE |
| 958669103 | WES | WESTERN MIDSTREAM PARTNERS L | $224,228 | 0.01% | 5,707 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $210,322 | 0.01% | 6,726 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER L P | $206,383 | 0.01% | 12,027 | Common | SOLE |
| 726503105 | PAA | PLAINS ALL AMERN PIPELINE L | $205,181 | 0.01% | 12,027 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.