ACAP Strategic Fund
Sponsored by SilverBay/Alkeon. Interval Fund structure focused on multi-strategy.
Interval FundMulti-strategy
- Net assets
- $10.35B
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-26 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $28.29
source
Semiannual shareholder report (Form N-CSRS) · filed 2026-06-05 · period 2026-03-31
canonical class (Class A) headline, basis: Statement of Assets and Liabilities (direct, not derived) — Statement of Assets and Liabilities: 'Shares issued and outstanding Net Asset Value per share Net Assets Class A 273,640,547 $28.29 $7,740,460,123 Class W 121,028,820 $21.57 $2,610,231,888' (identity: 7,740,460,123/273,640,547 = $28.288..., ties disclosed $28.29; 2,610,231,888/121,028,820 = $21.568..., ties disclosed $21.57). Corroborated by Note 15 'Financial Highlights', two separate tables headed 'Class A' and 'Class W' respectively, each independently showing 'Net asset value per Share, end of period' matching the balance-sheet figures for the six months ended March 31, 2026. Class A is canonical: listed first throughout, ~74.8% of both shares and net assets. Operator-ratified: do NOT blend Class A and Class W (a ~24% structural difference, not fee timing).
“Shares issued and outstanding Net Asset Value per share Net Assets Class A 273,640,547 $ 28.29 $ 7,740,460,123 Class W 121,028,820 $ 21.57 $ 2,610,231,888”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Class A (canonical class) · 2026-03-31 - Net flows, last qtr
- +0.5% qtr ended 2026-03-31
- Distribution coverage (NII)
- Not disclosed coverage not available
- Leverage in use
- 0% unlevered
- Total return, 12m
- Insufficient history computed from NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-02.
Historical findings (2)
Net outflow of 7.9% of NAV in the period ended 2022-12-31.
Management Fee contractually reduced from an annual rate of 2.00% to 1.50%, effective December 18, 2014. (2014-12-18)
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
No structured portfolio-health series or position-change events have been captured for this fund.
Where exit demand met the cap.
The disclosed history shows no rationed period.
No structured redemption history has been captured for this fund.
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
No structured financing components have been captured for this fund.
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Class A 74.8%Class W 25.2%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class A | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $7,740,460,1232026-03-31 |
| Class W | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $2,610,231,8882026-03-31 |
Management fee: 1.50% of avg daily net assets per year. source. In consideration of management services provided by the Adviser and for services provided by the Adviser or an affiliate for certain administrative services, the Fund pays the Adviser a monthly management fee computed at the annual rate of 1.50% of the Fund's average daily net assets, due and payable in arrears within five business days after the end of each month. For the six months ended March 31, 2026, Management Fees totaled $81,090,873. The Fund separately pays the Adviser a 20% performance-based Incentive Fee on net profits above a loss-carryforward balance (Note 5) -- not captured here, per convention.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | In consideration of management services provided by the Adviser and for services provided by the Adviser or an affiliate for certain administrative services, the Fund pays the Adviser a monthly management fee computed at the annual rate of 1.50% of the Fund's average daily net assets, due and payable in arrears within five business days after the end of each month. For the six months ended March 31, 2026, Management Fees totaled $81,090,873. The Fund separately pays the Adviser a 20% performance-based Incentive Fee on net profits above a loss-carryforward balance (Note 5) -- not captured here, per convention. | 1.5 pct_annual_of_avg_daily_net_assets | Date not captured |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-05 | N-CSRS | 0001206774-26-000313 |
| 2026-05-26 | NPORT-P | 0001193125-26-239305 |
| 2026-05-15 | N-23C3A | 0001206774-26-000282 |
| 2026-02-26 | NPORT-P | 0001193125-26-076818 |
| 2026-02-17 | N-23C3A | 0001206774-26-000075 |
| 2025-12-01 | N-CSR | 0001206774-25-000753 |
| 2025-11-25 | NPORT-P | 0001193125-25-297252 |
| 2025-11-17 | N-23C3A | 0001206774-25-000744 |
| 2025-08-28 | NPORT-P | 0001145549-25-056046 |
| 2025-08-15 | N-23C3A | 0001206774-25-000558 |
| 2025-05-29 | N-CSRS | 0001206774-25-000382 |
| 2025-05-28 | NPORT-P | 0001145549-25-033457 |
| 2025-05-16 | N-23C3A | 0001206774-25-000362 |
| 2025-02-26 | NPORT-P | 0001145549-25-010384 |
| 2025-02-14 | N-23C3A | 0001206774-25-000073 |