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Caption Management Portfolio holdings

AUM $17.1B
1-Year Est. Return 70.99%
This Fund
S&P 500
This Quarter Est. Return
+8.37%
1 Year Est. Return
+70.99%
3 Year Est. Return
+176.06%
5 Year Est. Return
+263.89%
10 Year Est. Return
–
AUM
$14.6B
AUM Growth
+$1.76B
Cap. Flow
+$1.61B
Cap. Flow %
11.04%
Top 10 Hldgs %
12.14%
Holding
2,182
New
575
Increased
392
Reduced
342
Closed
670

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$126M
2
NVDA icon
NVIDIA
NVDA
+$123M
3
NFLX icon
Netflix
NFLX
+$81.9M
4
MSFT icon
Microsoft
MSFT
+$52.2M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$51M

Top Sells

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$34.1M
2
XLB icon
State Street Materials Select Sector SPDR ETF
XLB
+$24M
3
HPE icon
Hewlett Packard
HPE
+$22.9M
4
TSLA icon
Tesla
TSLA
+$22.2M
5
RVMD icon
Revolution Medicines
RVMD
+$20.6M

Sector Composition

Rank Sector Weight
1 Technology 4.6%
2 Consumer Discretionary 2.55%
3 Healthcare 2.5%
4 Communication Services 1.71%
5 Financials 1.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXE
301
CALL
Expand Energy Corp
EXE
$21.9B
$11.5M 0.08%
104,200
+50,000
+92% +$5.54M
SCCO icon
302
CALL
Southern Copper
SCCO
$141B
$11.5M 0.08%
+81,487
New +$10.8M
CORT icon
303
CALL
Corcept Therapeutics
CORT
$10.2B
$11.5M 0.08%
329,500
+290,000
+734% +$22.8M
AVGO icon
304
Broadcom
AVGO
$1.82T
$11.4M 0.08%
33,000
-12,500
-27% -$4.47M
CMA
305
DELISTED
Comerica
CMA
$11.3M 0.08%
129,821
-12,607
-9% -$1.01M
SHOP icon
306
Shopify
SHOP
$148B
$11.3M 0.08%
69,900
+14,050
+25% +$2.26M
RPT
307
PUT
Rithm Property Trust
RPT
$90.5M
$11.2M 0.08%
+675,000
New +$10.4M
UNH icon
308
UnitedHealth
UNH
$382B
$11.2M 0.08%
33,880
+31,180
+1,155% +$10.6M
INSP icon
309
CALL
Inspire Medical Systems
INSP
$1.42B
$11.2M 0.08%
+121,200
New +$11.6M
NNDM
310
PUT
Nano Dimension
NNDM
$309M
$11.2M 0.08%
7,247,200
– –
WMT icon
311
CALL
Walmart Inc
WMT
$871B
$11.1M 0.08%
+100,000
New +$10.7M
XLF icon
312
CALL
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$11M 0.08%
+200,000
New +$10.7M
ON icon
313
CALL
ON Semiconductor
ON
$33.8B
$10.9M 0.08%
202,000
+40,000
+25% +$2.05M
UPST icon
314
CALL
Upstart Holdings
UPST
$2.58B
$10.9M 0.08%
250,000
– –
THRM icon
315
PUT
Gentherm
THRM
$1.31B
$10.9M 0.07%
300,000
– –
CENX icon
316
CALL
Century Aluminum
CENX
$4.57B
$10.9M 0.07%
278,200
+198,200
+248% +$6.19M
CART icon
317
PUT
Maplebear
CART
$9.92B
$10.9M 0.07%
242,300
+137,300
+131% +$5.62M
BTU icon
318
Peabody Energy
BTU
$2.78B
$10.8M 0.07%
365,000
+261,500
+253% +$7.68M
RF icon
319
CALL
Regions Financial
RF
$26.3B
$10.8M 0.07%
400,000
+364,000
+1,011% +$9.3M
UAL icon
320
United Airlines
UAL
$38.4B
$10.8M 0.07%
96,800
+9,100
+10% +$920K
ZVRA icon
321
CALL
Zevra Therapeutics
ZVRA
$563M
$10.8M 0.07%
1,200,400
+51,600
+4% +$488K
IVZ icon
322
Invesco
IVZ
$13.3B
$10.5M 0.07%
+399,800
New +$9.77M
IREN icon
323
Iris Energy
IREN
$13.2B
$10.5M 0.07%
277,860
-160,049
-37% -$8.26M
EOSE icon
324
Eos Energy Enterprises
EOSE
$1.23B
$10.5M 0.07%
914,727
+294,007
+47% +$4.22M
PGY icon
325
CALL
Pagaya Technologies
PGY
$1.32B
$10.4M 0.07%
499,000
+299,000
+150% +$7.62M
11 12
13
14 15

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ASRS
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PP
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VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return
BBA
Baker Bros. Advisors New York $17.4B AUM 131.5% 1-Year Est. Return
Macquarie Group
Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return
FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return
AIMCA
Alberta Investment Management Corp (AIMCo) Edmonton, Alberta, Canada $16.7B AUM 23.27% 1-Year Est. Return

Caption Management's Q4 2025 Portfolio in Review

As of Q4 2025, Caption Management held 2,182 positions worth $14.6B, up 14% from $12.8B the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Caption Management deployed $1.61B of net new capital in Q4 2025, opening 575 new positions and adding to 392 existing holdings. Its largest new stake was Apple: 470,000 shares worth $128M.

By sector, the portfolio is most concentrated in Technology at 4.6% of assets, up from 2.7% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was Tesla, an estimated $22.2M trimmed.

  • Caption Management's largest Q4 2025 buy was Apple: 470,000 shares worth $128M.
  • Caption Management added most to NVIDIA in Q4 2025, an estimated $123M increase.
  • Caption Management's biggest Q4 2025 reduction was Tesla, cutting an estimated $22.2M.
  • Caption Management fully exited EchoStar in Q4 2025, selling an estimated $34.1M.
  • Caption Management's ten largest holdings make up 12% of its $14.6B portfolio in Q4 2025.
  • Caption Management opened 575 new positions and closed 670 in Q4 2025.
  • Caption Management's portfolio value rose 14% quarter-over-quarter to $14.6B.

Based on Caption Management's 13F filing for Q4 2025, filed 17 Feb 2026.