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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
FUN icon
951
CALL
Cedar Fair
FUN
$1.76B
$1.38M 0.01%
90,000
-323,000
-78% -$5.84M
CAT icon
952
Caterpillar
CAT
$392B
$1.37M 0.01%
+2,400
New +$1.33M
CAI
953
Caris Life Sciences
CAI
$4.42B
$1.37M 0.01%
+50,888
New +$1.43M
ATEX icon
954
PUT
Anterix
ATEX
$1.77B
$1.36M 0.01%
+62,500
New +$1.3M
CFLT
955
CALL
DELISTED
Confluent
CFLT
$1.36M 0.01%
+45,000
New +$1.1M
SOFI icon
956
SoFi Technologies
SOFI
$21.8B
$1.35M 0.01%
51,500
-20,000
-28% -$557K
AES icon
957
AES
AES
$10.6B
$1.35M 0.01%
94,000
-40,000
-30% -$564K
FE icon
958
FirstEnergy
FE
$28.5B
$1.34M 0.01%
+30,000
New +$1.38M
HTZWW
959
Hertz Global Holdings Warrants
HTZWW
$76.4M
$1.34M 0.01%
499,998
– –
BUR icon
960
PUT
Burford Capital
BUR
$911M
$1.34M 0.01%
+150,000
New +$1.47M
IMSR
961
CALL
Terrestrial Energy
IMSR
$518M
$1.33M 0.01%
+217,800
New +$2.91M
U icon
962
CALL
Unity
U
$13.4B
$1.33M 0.01%
30,000
– –
SRRK icon
963
CALL
Scholar Rock
SRRK
$5.94B
$1.32M 0.01%
30,000
-177,500
-86% -$6.66M
MNRO icon
964
Monro
MNRO
$524M
$1.31M 0.01%
+65,299
New +$1.2M
FOUR icon
965
Shift4
FOUR
$3.96B
$1.31M 0.01%
20,746
-8,000
-28% -$565K
LRN icon
966
PUT
Stride
LRN
$3.87B
$1.3M 0.01%
+20,000
New +$1.82M
VKTX icon
967
Viking Therapeutics
VKTX
$4.1B
$1.3M 0.01%
36,880
-70,920
-66% -$2.51M
KVUE icon
968
PUT
Kenvue
KVUE
$37.3B
$1.29M 0.01%
75,000
-358,300
-83% -$5.86M
IMAX icon
969
CALL
IMAX
IMAX
$2.5B
$1.29M 0.01%
+35,000
New +$1.22M
NVCR icon
970
CALL
NovoCure
NVCR
$2B
$1.29M 0.01%
100,000
– –
COLD icon
971
Americold
COLD
$4.13B
$1.29M 0.01%
+100,000
New +$1.23M
HE icon
972
Hawaiian Electric Industries
HE
$2.29B
$1.28M 0.01%
104,245
-15,755
-13% -$183K
SONY icon
973
CALL
Sony
SONY
$131B
$1.28M 0.01%
50,000
– –
SONY icon
974
PUT
Sony
SONY
$131B
$1.28M 0.01%
50,000
– –
KKR icon
975
KKR & Co
KKR
$90.6B
$1.27M 0.01%
10,000
+2,800
+39% +$348K
37 38
39
40 41

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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.