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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
ZEN
1876
DELISTED
ZENDESK INC
ZEN
– –
-13,900
Closed -$1.06M
TEN
1877
PUT
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
– –
-50,000
Closed -$870K
TWTR
1878
CALL
DELISTED
Twitter, Inc.
TWTR
– –
-2,375,100
Closed -$104M
TWTR
1879
DELISTED
Twitter, Inc.
TWTR
– –
-100
Closed -$4K
TWTR
1880
PUT
DELISTED
Twitter, Inc.
TWTR
– –
-1,296,600
Closed -$56.8M
CCXI
1881
CALL
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-57,500
Closed -$2.97M
CCXI
1882
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-4,900
Closed -$252K
CCXI
1883
PUT
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-134,500
Closed -$6.95M
PING
1884
DELISTED
Ping Identity Holding Corp.
PING
– –
-218,300
Closed -$6.13M
GBT
1885
CALL
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-30,000
Closed -$2.04M
GBT
1886
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-18,900
Closed -$1.29M
GBT
1887
PUT
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-162,000
Closed -$11M
CHNG
1888
DELISTED
Change Healthcare Inc. Common Stock
CHNG
– –
-11,300
Closed -$310K
CRXTW
1889
DELISTED
Clarus Therapeutics Holdings, Inc. Warrants
CRXTW
– –
-140,821
Closed –
TRQ
1890
CALL
DELISTED
Turquoise Hill Resources Ltd
TRQ
– –
-450,000
Closed -$13.3M
TRQ
1891
DELISTED
Turquoise Hill Resources Ltd
TRQ
– –
-5,800
Closed -$176K
ARCH
1892
CALL
DELISTED
Arch Resources, Inc.
ARCH
– –
-45,900
Closed -$5.44M
ARCH
1893
DELISTED
Arch Resources, Inc.
ARCH
– –
-23,900
Closed -$2.83M
ARCH
1894
PUT
DELISTED
Arch Resources, Inc.
ARCH
– –
-70,600
Closed -$8.37M
CFRX
1895
CALL
DELISTED
ContraFect Corporation
CFRX
– –
-6,244
Closed -$85K
HZNP
1896
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-61,380
Closed -$5.1M
COWN
1897
DELISTED
Cowen Inc. Class A Common Stock
COWN
– –
-24,900
Closed -$962K
NLSN
1898
PUT
DELISTED
Nielsen Holdings plc
NLSN
– –
-10,000
Closed -$277K
VSTO
1899
CALL
DELISTED
Vista Outdoor Inc.
VSTO
– –
-367,500
Closed -$8.94M
EBIX
1900
CALL
DELISTED
Ebix Inc
EBIX
– –
-115,200
Closed -$2.19M
73 74 75
76
77

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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
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FCM
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AIMCA
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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.