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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
ASO icon
926
Academy Sports + Outdoors
ASO
$3.1B
$1.5M 0.01%
30,000
-68,373
-70% -$3.39M
VTRS icon
927
Viatris
VTRS
$20.6B
$1.49M 0.01%
120,000
+97,100
+424% +$1.05M
XRT icon
928
PUT
State Street SPDR S&P Retail ETF
XRT
$448M
$1.49M 0.01%
17,500
-203,500
-92% -$17.1M
FSK icon
929
FS KKR Capital
FSK
$3.03B
$1.48M 0.01%
100,184
+50,184
+100% +$761K
NKTR icon
930
Nektar Therapeutics
NKTR
$2.38B
$1.48M 0.01%
+35,000
New +$1.96M
RKT icon
931
PUT
Rocket Companies
RKT
$38.2B
$1.48M 0.01%
76,300
+26,800
+54% +$479K
CDZI icon
932
Cadiz
CDZI
$256M
$1.47M 0.01%
262,345
+105,341
+67% +$565K
CAH icon
933
Cardinal Health
CAH
$53.6B
$1.47M 0.01%
7,152
-148
-2% -$27.9K
HIMS icon
934
Hims & Hers Health
HIMS
$7B
$1.46M 0.01%
45,000
+35,000
+350% +$1.5M
LION icon
935
Lionsgate Studios
LION
$3.86B
$1.46M 0.01%
160,000
+125,000
+357% +$889K
SOLS
936
PUT
Solstice Advanced Materials
SOLS
$9.59B
$1.46M 0.01%
+30,000
New +$1.41M
MOD icon
937
Modine Manufacturing
MOD
$12.3B
$1.45M 0.01%
+10,882
New +$1.62M
ACI icon
938
Albertsons Companies
ACI
$5.59B
$1.44M 0.01%
84,054
+7,554
+10% +$135K
FLR icon
939
Fluor
FLR
$7.19B
$1.43M 0.01%
36,000
-107,124
-75% -$4.74M
SMR icon
940
PUT
NuScale Power
SMR
$2.95B
$1.42M 0.01%
+100,000
New +$2.86M
BCH icon
941
Banco de Chile
BCH
$20.9B
$1.42M 0.01%
37,241
-74,931
-67% -$2.66M
LION icon
942
PUT
Lionsgate Studios
LION
$3.86B
$1.42M 0.01%
+155,000
New +$1.1M
AMT icon
943
American Tower
AMT
$77.7B
$1.4M 0.01%
+8,000
New +$1.46M
MFA
944
PUT
MFA Financial
MFA
$932M
$1.4M 0.01%
150,000
-50,000
-25% -$466K
FIVE icon
945
Five Below
FIVE
$11.5B
$1.39M 0.01%
+7,400
New +$1.2M
IRDM icon
946
CALL
Iridium Communications
IRDM
$4.86B
$1.39M 0.01%
+80,000
New +$1.41M
IRDM icon
947
PUT
Iridium Communications
IRDM
$4.86B
$1.39M 0.01%
+80,000
New +$1.41M
RCAT icon
948
CALL
Red Cat Holdings
RCAT
$1.19B
$1.39M 0.01%
175,000
-173,300
-50% -$1.66M
PCVX icon
949
CALL
Vaxcyte
PCVX
$8.01B
$1.38M 0.01%
30,000
-20,000
-40% -$895K
ACMR icon
950
CALL
ACM Research
ACMR
$5.52B
$1.38M 0.01%
35,000
-60,100
-63% -$2.24M
36 37
38
39 40

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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.