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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
AXSM icon
151
CALL
Axsome Therapeutics
AXSM
$12.4B
$22.8M 0.16%
125,000
+100,000
+400% +$14M
NUVB icon
152
CALL
Nuvation Bio
NUVB
$2.24B
$22.7M 0.16%
2,534,700
+640,900
+34% +$3.97M
INSM icon
153
Insmed
INSM
$23.2B
$22.6M 0.16%
130,000
+129,919
+160,394% +$23.7M
KWEB icon
154
PUT
KraneShares CSI China Internet ETF
KWEB
$5.2B
$22.1M 0.15%
+650,000
New +$25M
MRK icon
155
PUT
Merck
MRK
$324B
$22M 0.15%
208,800
+20,200
+11% +$1.9M
ASND icon
156
PUT
Ascendis Pharma A/S
ASND
$16.7B
$21.9M 0.15%
102,500
+87,600
+588% +$18.1M
CMA
157
CALL
DELISTED
Comerica
CMA
$21.7M 0.15%
250,000
-664,900
-73% -$53.5M
NN icon
158
CALL
NextNav
NN
$1.7B
$21.5M 0.15%
1,292,200
+80,700
+7% +$1.15M
DD icon
159
CALL
DuPont de Nemours
DD
$18.6B
$21.2M 0.15%
175,967
-282,116
-62% -$31.7M
IBB icon
160
PUT
iShares Biotechnology ETF
IBB
$9.31B
$21.1M 0.14%
+125,000
New +$20.3M
SNOW icon
161
CALL
Snowflake
SNOW
$92.9B
$21M 0.14%
95,800
-79,800
-45% -$19.5M
TEM
162
CALL
Tempus AI
TEM
$7.69B
$21M 0.14%
355,000
– –
TMO icon
163
PUT
Thermo Fisher Scientific
TMO
$211B
$20.9M 0.14%
+36,100
New +$20.4M
OWL icon
164
Blue Owl Capital
OWL
$6.39B
$20.9M 0.14%
1,397,623
+785,242
+128% +$12.3M
FHN icon
165
CALL
First Horizon
FHN
$12.1B
$20.8M 0.14%
872,000
+846,000
+3,254% +$18.9M
VSAT icon
166
Viasat
VSAT
$9.79B
$20.8M 0.14%
603,623
-277,500
-31% -$9.8M
XME icon
167
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.05B
$20.7M 0.14%
200,000
+100,000
+100% +$9.88M
SEI
168
CALL
Solaris Energy Infrastructure
SEI
$3.31B
$20.7M 0.14%
450,000
+250,700
+126% +$12.1M
QCOM icon
169
PUT
Qualcomm
QCOM
$176B
$20.4M 0.14%
+119,100
New +$20.4M
IMAX icon
170
PUT
IMAX
IMAX
$2.38B
$20.3M 0.14%
+549,800
New +$19.2M
GMED icon
171
PUT
Globus Medical
GMED
$10.4B
$20.1M 0.14%
+230,700
New +$17.5M
ESTA icon
172
PUT
Establishment Labs
ESTA
$2.72B
$20M 0.14%
+275,000
New +$16.6M
VST icon
173
CALL
Vistra
VST
$55.1B
$19.8M 0.14%
+122,700
New +$22.3M
TSM icon
174
PUT
TSMC
TSM
$2.09T
$19.8M 0.14%
65,000
-314,000
-83% -$92.1M
COF icon
175
Capital One
COF
$124B
$19.7M 0.13%
+81,110
New +$18.1M
5 6
7
8 9

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.