Caption Management Portfolio holdings

Caption Management's Q1 2018 Portfolio in Review

As of Q1 2018, Caption Management held 394 positions worth $703M, down 27% from $964M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Caption Management withdrew a net $241M in Q1 2018, closing 181 positions and reducing 13 holdings. Its most notable exit was Pinnacle Foods, Inc., an estimated $4.76M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.4% of assets, up from 2.5% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

Against the trend, Caption Management opened a new position in Micron Technology worth $24.2M.

• Caption Management's largest Q1 2018 buy was Micron Technology: 465,000 shares worth $24.2M.
• Caption Management added most to Magnite in Q1 2018, an estimated $1.41M increase.
• Caption Management's biggest Q1 2018 reduction was Lowe's Companies, cutting an estimated $2.7M.
• Caption Management fully exited Pinnacle Foods, Inc. in Q1 2018, selling an estimated $4.76M.
• Caption Management's ten largest holdings make up 23% of its $703M portfolio in Q1 2018.
• Caption Management opened 163 new positions and closed 181 in Q1 2018.
• Caption Management's portfolio value fell 27% quarter-over-quarter to $703M.

Based on Caption Management's 13F filing for Q1 2018, filed 15 May 2018.