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Castleknight Management LP
Aaron Weitman · Hedge Fund · Event-Driven
Castleknight Management LP is a New York-based investment management firm founded in 2020 by Aaron Weitman, a former Senior Partner at Appaloosa Management. The firm specializes in an event-driven and special situations strategy, managing capital primarily for institutional and sophisticated investors through pooled investment vehicles. Launched with significant backing from David Tepper, Castleknight has rapidly grown its presence in the hedge fund industry by focusing on opportunistic investments across corporate capital structures. The firm employs a research-intensive approach to identify mispriced securities and catalysts that drive market returns, managing over $2.7 billion in regulatory assets as of late 2024.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +110.5% |
| YTD return | +87.3% |
| Sharpe ratio | 3.70 |
| Win rate | 53% |
| AUM | $0.9B |
| Inception | Oct 1, 2025 |
| Updated | Oct 2, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.9B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | http://castleknight.com/ |
Current Holdings
Updated on Oct 2, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| PBF | PBF Energy Inc | 9.0% | +51.0% |
| INSW | International Seaways Inc | 7.0% | +17.4% |
| NVDA | NVIDIA Corporation | 6.7% | +16.4% |
| NAT | Nordic American Tankers Limited | 6.2% | +34.1% |
| IREN | IREN Ltd | 6.0% | +6.8% |
| DHT | DHT Holdings Inc | 5.5% | +21.1% |
| FRO | Frontline Ltd | 5.1% | +20.8% |
| CVI | CVR Energy Inc | 5.0% | +53.2% |
| AMZN | Amazon.com Inc | 4.8% | -5.0% |
| META | Meta Platforms Inc. | 4.8% | +25.1% |
| CYH | Community Health Systems Inc | 4.6% | -4.7% |
| GOOGL | Alphabet Inc Class A | 4.4% | -1.5% |
| TEN | Tsakos Energy Navigation Ltd | 4.2% | +51.7% |
| TNK | Teekay Tankers Ltd | 4.2% | +31.2% |
| NXPI | NXP Semiconductors NV | 4.1% | +8.9% |
| CRWV | CoreWeave, Inc. Class A Common Stock | 3.9% | +7.3% |
| ZD | Ziff Davis Inc | 3.9% | -1.2% |
| TRMD | Torm PLC Class A | 3.7% | +23.2% |
| BTDR | Bitdeer Technologies Group Class A Ordinary Shares | 3.6% | -10.1% |
| AVGO | Broadcom Inc | 3.3% | +0.9% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 28, 2026 | SELL | PBF | 9.7% → 9.0% |
| Sep 28, 2026 | SELL | TNK | 4.2% → 4.2% |
| Sep 28, 2026 | SELL | TRMD | 3.9% → 3.7% |
| Sep 28, 2026 | BUY | CYH | 4.5% → 4.6% |
| Sep 28, 2026 | BUY | BTDR | 3.9% → 3.6% |
Investment Style Analysis
Castleknight Management LP is widely recognized for employing a Event-Driven strategy. As of Oct 2, 2026, the firm oversees approximately $0.9B in assets under management (AUM). The portfolio demonstrates a clear preference for the Oil & Gas Midstream and Semiconductors sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 28, Castleknight Management LP made a significant move by reducing the position in PBF. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Castleknight Management employs an event-driven and special situations investment philosophy aimed at achieving superior capital appreciation. The firm's strategy combines a macro-aware perspective with deep fundamental underwriting to identify de-risked, mispriced securities that offer asymmetric return profiles. Its process is centered on uncovering under-appreciated intricacies within capital structures and identifying specific catalysts, such as corporate restructurings, operational shifts, regulatory developments, and reorganizations. By remaining nimble and investing across various asset classes and company sizes, Castleknight seeks to exploit market inefficiencies through active portfolio management and fundamental research.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Castleknight Management LP.
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Frequently asked questions
How is the simulated portfolio for Castleknight Management LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Castleknight Management LP's largest holding?
As of the latest filing, Castleknight Management LP's top position is PBF Energy Inc (PBF), representing 9.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Castleknight Management LP's historical performance and risk profile?
Our simulation indicates a total return of +110.5% with a win rate of 53%. Notably, the portfolio maintains a Sharpe Ratio of 3.70, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Castleknight Management LP primarily invest in?
Castleknight Management LP has a strong preference for the Oil & Gas Midstream sector, which makes up 35.9% of their disclosed assets. The portfolio also has exposure to Semiconductors, indicating a specific thematic focus.
Is Castleknight Management LP's portfolio concentrated or diversified?
Castleknight Management LP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 22.8% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Castleknight Management LP performed in 2026?
Our AI-simulated model portfolio for Castleknight Management LP tracks a Year-to-Date (YTD) return of +87.3%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Aaron Weitman manage Castleknight Management LP directly?
Yes, Aaron Weitman serves as the key portfolio manager for Castleknight Management LP, overseeing the investment strategy and final capital allocation decisions.