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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
+13.77%
1 Year Est. Return
+70.99%
3 Year Est. Return
+176.06%
5 Year Est. Return
+263.89%
10 Year Est. Return
–
AUM
$6.41B
AUM Growth
-$838M
Cap. Flow
-$1.23B
Cap. Flow %
-19.2%
Top 10 Hldgs %
13.63%
Holding
1,903
New
444
Increased
263
Reduced
318
Closed
672

Top Buys

Rank Stock Value
1
PMT
PennyMac Mortgage Investment
PMT
+$19.7M
2
BMY icon
Bristol-Myers Squibb
BMY
+$17M
3
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$13.6M
4
EVA
Enviva Inc.
EVA
+$8.45M
5
APA icon
APA Corp
APA
+$7.51M

Top Sells

Rank Stock Value
1
PBR icon
Petrobras
PBR
+$43.9M
2
UAN icon
CVR Partners
UAN
+$26M
3
ZM icon
Zoom
ZM
+$12.1M
4
EQT icon
EQT Corp
EQT
+$12M
5
PING
Ping Identity Holding Corp.
PING
+$6.13M

Sector Composition

Rank Sector Weight
1 Healthcare 2.55%
2 Energy 1.26%
3 Technology 1.15%
4 Consumer Discretionary 0.9%
5 Materials 0.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EIGR
1826
DELISTED
Eiger BioPharmaceuticals, Inc.
EIGR
– –
-325
Closed -$39K
EIGR
1827
PUT
DELISTED
Eiger BioPharmaceuticals, Inc.
EIGR
– –
-2,757
Closed -$622K
NGM
1828
CALL
DELISTED
NGM Biopharmaceuticals, Inc. Common Stock
NGM
– –
-150,000
Closed -$1.96M
NGM
1829
DELISTED
NGM Biopharmaceuticals, Inc. Common Stock
NGM
– –
-61,970
Closed -$810K
TGH
1830
DELISTED
Textainer Group Holdings limited
TGH
– –
-57,671
Closed -$1.71M
TGH
1831
PUT
DELISTED
Textainer Group Holdings limited
TGH
– –
-150,000
Closed -$4.03M
GPP
1832
DELISTED
Green Plains Partners LP
GPP
– –
-10,493
Closed -$128K
LTHM
1833
CALL
DELISTED
Livent Corporation
LTHM
– –
-123,400
Closed -$3.78M
LTHM
1834
PUT
DELISTED
Livent Corporation
LTHM
– –
-85,000
Closed -$2.6M
FTCH
1835
PUT
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
– –
-596,400
Closed -$4.44M
SGEN
1836
CALL
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-55,000
Closed -$7.53M
SGEN
1837
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-4,700
Closed -$643K
SGEN
1838
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-64,600
Closed -$8.84M
VMW
1839
PUT
DELISTED
VMware, Inc
VMW
– –
-24,000
Closed -$2.56M
APRN
1840
PUT
DELISTED
Blue Apron Holdings, Inc. Class A Common Stock
APRN
– –
-16,667
Closed -$1.16M
ICPT
1841
CALL
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-208,000
Closed -$2.9M
ICPT
1842
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-86,859
Closed -$1.21M
ICPT
1843
PUT
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-253,600
Closed -$3.54M
TWNK
1844
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-20,000
Closed -$464K
DEN
1845
DELISTED
Denbury Inc.
DEN
– –
-5,200
Closed -$448K
TRTN
1846
DELISTED
Triton International Limited
TRTN
– –
-7,744
Closed -$490K
RETA
1847
CALL
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-275,000
Closed -$6.91M
RETA
1848
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-56,010
Closed -$1.41M
RETA
1849
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-68,100
Closed -$1.71M
MMP
1850
CALL
DELISTED
Magellan Midstream Partners, L.P.
MMP
– –
-1,400
Closed -$67K
72 73
74
75 76

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ASRS
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PP
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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 2022 Portfolio in Review

As of Q4 2022, Caption Management held 1,903 positions worth $6.41B, down 12% from $7.25B the previous quarter. Its ten largest holdings account for 14% of the portfolio.

Caption Management withdrew a net $1.23B in Q4 2022, closing 672 positions and reducing 318 holdings. Its most notable exit was Petrobras, an estimated $43.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 2.5% of assets, up from 1.5% a quarter earlier, followed by Energy and Technology.

Against the trend, Caption Management opened a new position in PennyMac Mortgage Investment worth $17.9M.

  • Caption Management's largest Q4 2022 buy was PennyMac Mortgage Investment: 1,448,050 shares worth $17.9M.
  • Caption Management added most to State Street SPDR S&P Biotech ETF in Q4 2022, an estimated $13.6M increase.
  • Caption Management's biggest Q4 2022 reduction was EQT Corp, cutting an estimated $12M.
  • Caption Management fully exited Petrobras in Q4 2022, selling an estimated $43.9M.
  • Caption Management's ten largest holdings make up 14% of its $6.41B portfolio in Q4 2022.
  • Caption Management opened 444 new positions and closed 672 in Q4 2022.
  • Caption Management's portfolio value fell 12% quarter-over-quarter to $6.41B.

Based on Caption Management's 13F filing for Q4 2022, filed 14 Feb 2023.