Caxton Associates (USA) LLC 13F holdings and portfolio analysis
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Baseline
Analysis messagesPre-generated Q&A about this fund. Use as reference context for your own analysis.
Concentration is the first item to inspect: top 5 51.79%, top 10 67.26%, top 20 77.97%. The largest names are MSFT (Microsoft Corporation) 15.66%, NVDA (NVIDIA Corporation) 14.67%, AMD (Advanced Micro Devices, Inc.) 8.27%, AMZN (Amazon.com, Inc.) 6.61%, and META (Meta Platforms, Inc.) 6.58%, and the largest sector exposures are Information Technology 47.89%, Industrials 12.92%, and Communication Services 10.55%. If those exposures reverse, baseline performance can diverge sharply from a broad index.
The strongest recent period was 2025-12-31 (21.07% strategy return, 9.57% benchmark, 11.50% excess, 87.48% turnover), while the weakest was 2024-03-31 (-3.03% strategy return, 2.31% benchmark, -5.34% excess, 102.81% turnover). Those periods should be read alongside baseline metrics of return 10.40%, alpha -1.44%, beta 0.89, Sharpe 0.64, Sortino 0.84, and max drawdown -31.94% to judge whether returns came from persistent exposure or a narrow timing window.
The baseline is a direct read-through of the disclosed fund portfolio. It is led by MSFT (Microsoft Corporation) 15.66%, NVDA (NVIDIA Corporation) 14.67%, and AMD (Advanced Micro Devices, Inc.) 8.27%, with sector exposure of Information Technology 47.89%, Industrials 12.92%, and Communication Services 10.55%. The baseline metrics show return 10.40%, alpha -1.44%, beta 0.89, Sharpe 0.64, Sortino 0.84, and max drawdown -31.94%, so this should be treated as an equity exposure with its own concentration and timing risk rather than a neutral benchmark clone.