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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
RARE icon
476
CALL
Ultragenyx Pharmaceutical
RARE
$2.65B
$5.74M 0.04%
249,600
-287,900
-54% -$9.47M
AES icon
477
PUT
AES
AES
$10.6B
$5.74M 0.04%
400,000
-140,000
-26% -$1.97M
HP icon
478
CALL
Helmerich & Payne
HP
$3.53B
$5.74M 0.04%
200,000
+100,000
+100% +$2.66M
CELH icon
479
CALL
Celsius Holdings
CELH
$6.93B
$5.72M 0.04%
125,000
+75,000
+150% +$3.78M
W icon
480
Wayfair
W
$11.1B
$5.7M 0.04%
56,800
-19,300
-25% -$1.86M
ADMA icon
481
CALL
ADMA Biologics
ADMA
$1.92B
$5.7M 0.04%
312,500
+15,000
+5% +$253K
HUN icon
482
CALL
Huntsman Corp
HUN
$2.24B
$5.65M 0.04%
565,000
+285,000
+102% +$2.61M
IMMR icon
483
PUT
Immersion
IMMR
$216M
$5.63M 0.04%
828,300
+208,300
+34% +$1.41M
LLY icon
484
Eli Lilly
LLY
$1.07T
$5.63M 0.04%
+5,240
New +$5.01M
HSIC icon
485
CALL
Henry Schein
HSIC
$9.74B
$5.63M 0.04%
+74,500
New +$5.24M
CELH icon
486
Celsius Holdings
CELH
$6.93B
$5.61M 0.04%
122,569
-60,531
-33% -$3.05M
LQDA icon
487
Liquidia Corp
LQDA
$7.67B
$5.61M 0.04%
162,538
+82,691
+104% +$2.35M
THC icon
488
CALL
Tenet Healthcare
THC
$20.1B
$5.56M 0.04%
+28,000
New +$5.66M
AZN icon
489
PUT
AstraZeneca
AZN
$263B
$5.52M 0.04%
+30,000
New +$5.26M
CFLT
490
DELISTED
Confluent
CFLT
$5.51M 0.04%
182,115
+42,115
+30% +$1.03M
GOOG icon
491
CALL
Alphabet (Google) Class C
GOOG
$3.9T
$5.49M 0.04%
17,500
– –
HMY icon
492
CALL
Harmony Gold Mining
HMY
$9.92B
$5.47M 0.04%
275,000
+235,000
+588% +$4.38M
BILL icon
493
CALL
BILL Holdings
BILL
$4.33B
$5.45M 0.04%
+100,000
New +$5.14M
VCYT icon
494
CALL
Veracyte
VCYT
$4.52B
$5.45M 0.04%
+129,500
New +$5.22M
XPOF icon
495
CALL
Xponential Fitness
XPOF
$265M
$5.45M 0.04%
662,000
-3,800
-0.6% -$27K
EGO icon
496
CALL
Eldorado Gold
EGO
$8.31B
$5.44M 0.04%
151,400
+40,000
+36% +$1.2M
XME icon
497
State Street SPDR S&P Metals & Mining ETF
XME
$4.05B
$5.43M 0.04%
+52,400
New +$5.18M
KGC icon
498
CALL
Kinross Gold
KGC
$28.5B
$5.4M 0.04%
191,600
– –
GLNG icon
499
CALL
Golar LNG
GLNG
$4.95B
$5.4M 0.04%
145,000
– –
ONC
500
PUT
BeOne Medicines Ltd
ONC
$33.8B
$5.38M 0.04%
+17,700
New +$5.79M
18 19
20
21 22

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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.