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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
HST icon
1801
CALL
Host Hotels & Resorts
HST
$16.8B
– –
-212,600
Closed -$3.62M
HST icon
1802
PUT
Host Hotels & Resorts
HST
$16.8B
– –
-212,600
Closed -$3.62M
HUN icon
1803
PUT
Huntsman Corp
HUN
$2.24B
– –
-300,000
Closed -$2.69M
HUT
1804
Hut 8
HUT
$12.4B
– –
-24,000
Closed -$1.06M
HWM icon
1805
PUT
Howmet Aerospace
HWM
$116B
– –
-100,000
Closed -$19.6M
PPLI
1806
CALL
People Inc
PPLI
$3.1B
– –
-83,900
Closed -$2.86M
IBRX icon
1807
ImmunityBio
IBRX
$7.44B
– –
-46,300
Closed -$114K
IBRX icon
1808
PUT
ImmunityBio
IBRX
$7.44B
– –
-200,000
Closed -$492K
IDYA icon
1809
PUT
IDEAYA Biosciences
IDYA
$3.41B
– –
-70,000
Closed -$1.9M
IGV icon
1810
PUT
iShares Expanded Tech-Software Sector ETF
IGV
$11.8B
– –
-85,000
Closed -$9.78M
IMCR icon
1811
CALL
Immunocore
IMCR
$1.78B
– –
-64,400
Closed -$2.34M
IMVT icon
1812
PUT
Immunovant
IMVT
$8.09B
– –
-272,500
Closed -$4.39M
INBX icon
1813
Inhibrx
INBX
$1.2B
– –
-15,513
Closed -$1.06M
INBX icon
1814
PUT
Inhibrx
INBX
$1.2B
– –
-57,500
Closed -$1.94M
INCY icon
1815
CALL
Incyte
INCY
$23.5B
– –
-71,600
Closed -$6.07M
INDA icon
1816
CALL
iShares MSCI India ETF
INDA
$6.71B
– –
-35,000
Closed -$1.82M
INDA icon
1817
iShares MSCI India ETF
INDA
$6.71B
– –
-2,800
Closed -$146K
INDV icon
1818
CALL
Indivior Pharmaceuticals
INDV
$4.79B
– –
-162,300
Closed -$3.91M
INFA
1819
CALL
DELISTED
Informatica
INFA
– –
-30,000
Closed -$745K
INFY icon
1820
Infosys
INFY
$45B
– –
-88,600
Closed -$1.53M
ING icon
1821
CALL
ING
ING
$93.8B
– –
-80,000
Closed -$2.09M
ING icon
1822
ING
ING
$93.8B
– –
-153,257
Closed -$4M
INVH icon
1823
Invitation Homes
INVH
$17.7B
– –
-40,000
Closed -$1.17M
INVZ icon
1824
Innoviz Technologies
INVZ
$135M
– –
-73,900
Closed -$117K
IR icon
1825
CALL
Ingersoll Rand
IR
$33B
– –
-40,000
Closed -$3.3M
71 72
73
74 75

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.