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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
FHN icon
526
First Horizon
FHN
$12.1B
$4.92M 0.03%
205,820
-28,780
-12% -$642K
CRSP icon
527
PUT
CRISPR Therapeutics
CRSP
$4.58B
$4.9M 0.03%
93,500
+3,500
+4% +$210K
FLG
528
CALL
Flagstar Bank National Association
FLG
$5.77B
$4.89M 0.03%
388,600
-561,400
-59% -$6.71M
TD icon
529
PUT
Toronto Dominion Bank
TD
$198B
$4.85M 0.03%
51,500
– –
CCOI icon
530
CALL
Cogent Communications
CCOI
$594M
$4.85M 0.03%
+225,000
New +$6.64M
KKR icon
531
PUT
KKR & Co
KKR
$89.2B
$4.84M 0.03%
+38,000
New +$4.73M
ZVRA icon
532
Zevra Therapeutics
ZVRA
$563M
$4.84M 0.03%
540,112
+30,021
+6% +$284K
WVE icon
533
CALL
Wave Life Sciences
WVE
$1.12B
$4.83M 0.03%
284,400
+100,000
+54% +$1.02M
MDT icon
534
PUT
Medtronic
MDT
$107B
$4.8M 0.03%
50,000
– –
EE icon
535
CALL
Excelerate Energy
EE
$1.23B
$4.77M 0.03%
170,000
+7,900
+5% +$214K
TGTX icon
536
PUT
TG Therapeutics
TGTX
$8.58B
$4.76M 0.03%
159,700
+1,100
+0.7% +$35.9K
IONS icon
537
PUT
Ionis Pharmaceuticals
IONS
$9.35B
$4.75M 0.03%
60,000
+15,000
+33% +$1.13M
SNOW icon
538
Snowflake
SNOW
$92.9B
$4.7M 0.03%
21,438
+20,952
+4,311% +$5.11M
PHM icon
539
CALL
Pultegroup
PHM
$24.5B
$4.69M 0.03%
+40,000
New +$4.91M
DSGN icon
540
CALL
Design Therapeutics
DSGN
$736M
$4.69M 0.03%
+500,000
New +$3.92M
FWRD icon
541
CALL
Forward Air
FWRD
$482M
$4.67M 0.03%
+186,700
New +$4.2M
APLD icon
542
PUT
Applied Digital
APLD
$7.77B
$4.66M 0.03%
190,000
+115,000
+153% +$3.31M
MTN icon
543
PUT
Vail Resorts
MTN
$5.19B
$4.65M 0.03%
+35,000
New +$5.15M
TMO icon
544
Thermo Fisher Scientific
TMO
$211B
$4.64M 0.03%
8,000
+6,400
+400% +$3.62M
PGEN icon
545
CALL
Precigen
PGEN
$1.93B
$4.6M 0.03%
1,100,000
-2,297,500
-68% -$8.89M
SLG icon
546
CALL
SL Green Realty
SLG
$3.88B
$4.59M 0.03%
+100,000
New +$4.94M
JBIO
547
Jade Biosciences
JBIO
$1.22B
$4.58M 0.03%
+297,095
New +$3.49M
PPTA
548
CALL
Perpetua Resources
PPTA
$2.23B
$4.57M 0.03%
188,600
+138,600
+277% +$3.41M
AXSM icon
549
PUT
Axsome Therapeutics
AXSM
$12.4B
$4.57M 0.03%
25,000
– –
ANIP icon
550
ANI Pharmaceuticals
ANIP
$1.77B
$4.56M 0.03%
+57,773
New +$5M
20 21
22
23 24

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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
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Macquarie Group
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FCM
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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.