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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
EWTX icon
676
PUT
Edgewise Therapeutics
EWTX
$4.39B
$3.12M 0.02%
+125,800
New +$2.53M
HON icon
677
CALL
Honeywell
HON
$77.1B
$3.12M 0.02%
+16,000
New +$3.13M
ZBIO
678
CALL
Zenas BioPharma
ZBIO
$1.92B
$3.11M 0.02%
+85,700
New +$2.82M
FNV icon
679
CALL
Franco-Nevada
FNV
$41.4B
$3.11M 0.02%
+15,000
New +$3.04M
VNDA icon
680
CALL
Vanda Pharmaceuticals
VNDA
$312M
$3.08M 0.02%
349,300
+312,300
+844% +$1.72M
JHX icon
681
CALL
James Hardie Industries
JHX
$15.4B
$3.07M 0.02%
+148,000
New +$2.97M
CMTG icon
682
CALL
Claros Mortgage Trust
CMTG
$306M
$3.06M 0.02%
1,000,000
-31,500
-3% -$103K
HTZ icon
683
PUT
Hertz
HTZ
$572M
$3.05M 0.02%
594,100
– –
BXP icon
684
PUT
Boston Properties
BXP
$11B
$3.04M 0.02%
45,000
-549,200
-92% -$39M
IE icon
685
Ivanhoe Electric
IE
$1.43B
$3.03M 0.02%
189,800
+9,800
+5% +$140K
HL icon
686
Hecla Mining
HL
$10.2B
$3.03M 0.02%
+158,000
New +$2.41M
KWR icon
687
CALL
Quaker Houghton
KWR
$2.63B
$3.02M 0.02%
22,000
– –
MANU icon
688
PUT
Manchester United
MANU
$3.91B
$3.02M 0.02%
189,700
– –
ARKK icon
689
CALL
ARK Innovation ETF
ARKK
$5.89B
$3.01M 0.02%
39,100
-35,500
-48% -$2.94M
VERX icon
690
CALL
Vertex
VERX
$1.92B
$3M 0.02%
150,000
– –
LION icon
691
CALL
Lionsgate Studios
LION
$3.88B
$2.99M 0.02%
+327,700
New +$2.33M
ARWR icon
692
Arrowhead Research
ARWR
$12.1B
$2.98M 0.02%
+44,900
New +$2.2M
WW
693
PUT
WW International
WW
$133M
$2.98M 0.02%
+101,900
New +$2.85M
BP icon
694
BP
BP
$113B
$2.97M 0.02%
85,491
-12,909
-13% -$453K
PRAX icon
695
CALL
Praxis Precision Medicines
PRAX
$9.07B
$2.95M 0.02%
10,000
-33,500
-77% -$6.24M
CAVA icon
696
PUT
CAVA Group
CAVA
$7.22B
$2.93M 0.02%
50,000
-100,000
-67% -$5.58M
AGIO icon
697
PUT
Agios Pharmaceuticals
AGIO
$2.16B
$2.92M 0.02%
107,300
-279,300
-72% -$9.8M
MARA icon
698
PUT
Marathon Digital Holdings
MARA
$4.62B
$2.92M 0.02%
325,000
+225,000
+225% +$3.32M
EWY icon
699
CALL
iShares MSCI South Korea ETF
EWY
$21.7B
$2.92M 0.02%
+30,000
New +$2.74M
RNAM
700
PUT
DELISTED
Avidity Biosciences
RNAM
$2.89M 0.02%
40,000
– –
26 27
28
29 30

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VMPIC
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BCIM
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BBA
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Macquarie Group
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FCM
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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.