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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
MP icon
26
CALL
MP Materials
MP
$7.35B
$101M 0.69%
1,994,500
+1,608,500
+417% +$102M
RCL icon
27
CALL
Royal Caribbean
RCL
$78.7B
$99.6M 0.68%
357,000
– –
EWC icon
28
PUT
iShares MSCI Canada ETF
EWC
$6.04B
$97.1M 0.67%
1,800,000
+400,000
+29% +$20.7M
RDDT icon
29
PUT
Reddit
RDDT
$32.5B
$92.5M 0.63%
402,300
+42,900
+12% +$9.02M
GEV icon
30
PUT
GE Vernova
GEV
$270B
$91M 0.62%
139,200
+125,200
+894% +$76.3M
ORCL icon
31
PUT
Oracle
ORCL
$331B
$87.6M 0.6%
449,200
+334,200
+291% +$79.6M
COF icon
32
CALL
Capital One
COF
$124B
$84.2M 0.58%
347,500
+191,700
+123% +$42.7M
NFLX icon
33
PUT
Netflix
NFLX
$292B
$79.3M 0.54%
+846,200
New +$91.2M
UTHR icon
34
PUT
United Therapeutics
UTHR
$26.3B
$77.9M 0.53%
159,800
-150,000
-48% -$69.9M
COIN icon
35
CALL
Coinbase
COIN
$41.7B
$75.8M 0.52%
335,000
+55,000
+20% +$16.4M
JNJ icon
36
PUT
Johnson & Johnson
JNJ
$635B
$75M 0.51%
+362,300
New +$71.6M
NVDA icon
37
CALL
NVIDIA
NVDA
$5.01T
$73.9M 0.51%
+396,000
New +$73.7M
CLS icon
38
CALL
Celestica
CLS
$35.1B
$73.5M 0.5%
248,500
+174,500
+236% +$52.6M
CZR icon
39
CALL
Caesars Entertainment
CZR
$6.1B
$72.7M 0.5%
3,110,000
+2,310,000
+289% +$51.9M
NFLX icon
40
Netflix
NFLX
$292B
$71.3M 0.49%
+760,100
New +$81.9M
ASTS icon
41
CALL
AST SpaceMobile
ASTS
$16.8B
$68.3M 0.47%
940,500
+444,400
+90% +$31.7M
CDTX
42
CALL
DELISTED
Cidara Therapeutics
CDTX
$66.3M 0.45%
+300,000
New +$48.5M
WULF icon
43
CALL
TeraWulf
WULF
$9.15B
$65.1M 0.45%
5,664,600
-219,000
-4% -$2.94M
NET icon
44
CALL
Cloudflare
NET
$93B
$64.9M 0.44%
329,000
+32,000
+11% +$6.77M
LLY icon
45
PUT
Eli Lilly
LLY
$1.07T
$64.4M 0.44%
+59,900
New +$57.3M
W icon
46
CALL
Wayfair
W
$11.1B
$64.3M 0.44%
640,000
+100,000
+19% +$9.62M
MRVL icon
47
PUT
Marvell Technology
MRVL
$174B
$63.7M 0.44%
750,000
+550,000
+275% +$48.1M
GOOGL icon
48
PUT
Alphabet (Google) Class A
GOOGL
$3.91T
$62.6M 0.43%
200,000
+50,000
+33% +$14.3M
KNSA icon
49
CALL
Kiniksa Pharmaceuticals
KNSA
$4.83B
$61.5M 0.42%
1,490,500
+987,900
+197% +$39.6M
EOSE icon
50
CALL
Eos Energy Enterprises
EOSE
$1.23B
$59.5M 0.41%
5,188,400
+1,507,900
+41% +$21.7M
1
2
3 4 5

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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
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FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return
AIMCA
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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.