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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
USB icon
501
CALL
US Bancorp
USB
$99.6B
$5.34M 0.04%
+100,000
New +$4.92M
VST icon
502
Vistra
VST
$55.1B
$5.32M 0.04%
33,000
+17,200
+109% +$3.13M
TEVA icon
503
CALL
Teva Pharmaceuticals
TEVA
$35.9B
$5.29M 0.04%
169,500
+89,500
+112% +$2.2M
RH icon
504
CALL
RH
RH
$3.3B
$5.28M 0.04%
+29,500
New +$5.04M
FDX icon
505
FedEx
FDX
$74.5B
$5.24M 0.04%
18,150
+7,000
+63% +$1.84M
FOA icon
506
CALL
Finance of America Companies
FOA
$204M
$5.24M 0.04%
216,300
– –
KRC icon
507
CALL
Kilroy Realty
KRC
$4.58B
$5.23M 0.04%
140,000
– –
THC icon
508
Tenet Healthcare
THC
$20.1B
$5.21M 0.04%
26,231
-1,595
-6% -$322K
MRK icon
509
CALL
Merck
MRK
$324B
$5.21M 0.04%
49,500
-197,500
-80% -$18.5M
DAL icon
510
CALL
Delta Air Lines
DAL
$55.9B
$5.21M 0.04%
+75,000
New +$4.69M
QURE icon
511
PUT
uniQure
QURE
$2.68B
$5.2M 0.04%
217,400
-300,500
-58% -$11.6M
USO icon
512
United States Oil Fund
USO
$2.45B
$5.2M 0.04%
+75,200
New +$5.3M
INCY icon
513
PUT
Incyte
INCY
$23.5B
$5.19M 0.04%
52,500
-32,100
-38% -$3.11M
MSOS icon
514
CALL
AdvisorShares Pure US Cannabis ETF
MSOS
$864M
$5.08M 0.03%
1,076,600
-687,400
-39% -$3.06M
RARE icon
515
Ultragenyx Pharmaceutical
RARE
$2.65B
$5.05M 0.03%
219,500
+54,999
+33% +$1.81M
AMGN icon
516
PUT
Amgen
AMGN
$203B
$5.04M 0.03%
+15,400
New +$4.89M
PVH icon
517
PUT
PVH
PVH
$3.71B
$5.03M 0.03%
75,000
– –
OBDC icon
518
CALL
Blue Owl Capital
OBDC
$5.35B
$5.02M 0.03%
+404,000
New +$5.14M
WW
519
CALL
WW International
WW
$133M
$4.98M 0.03%
170,300
+160,300
+1,603% +$4.48M
NBIX icon
520
CALL
Neurocrine Biosciences
NBIX
$17.7B
$4.96M 0.03%
35,000
+5,000
+17% +$724K
CPNG icon
521
CALL
Coupang
CPNG
$27.8B
$4.95M 0.03%
210,000
+60,000
+40% +$1.71M
STWD icon
522
PUT
Starwood Property Trust
STWD
$6.12B
$4.95M 0.03%
275,000
– –
BEAM icon
523
Beam Therapeutics
BEAM
$2.58B
$4.94M 0.03%
+178,352
New +$4.55M
KRYS icon
524
PUT
Krystal Biotech
KRYS
$9.88B
$4.93M 0.03%
20,000
+15,000
+300% +$3.16M
TFC icon
525
PUT
Truist Financial
TFC
$63.2B
$4.92M 0.03%
+100,000
New +$4.61M
19 20
21
22 23

Similar funds

ASRS
Arizona State Retirement System Phoenix, Arizona $17.1B AUM 30.52% 1-Year Est. Return
PP
Prudential plc London, England, United Kingdom $17.1B AUM 15.7% 1-Year Est. Return
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.