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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
OUST icon
1951
CALL
Ouster
OUST
$2.29B
– –
-41,700
Closed -$1.13M
PAA icon
1952
CALL
Plains All American Pipeline
PAA
$17.4B
– –
-150,000
Closed -$2.56M
PANW icon
1953
CALL
Palo Alto Networks
PANW
$264B
– –
-25,000
Closed -$5.09M
PCH
1954
DELISTED
PotlatchDeltic
PCH
– –
-15,339
Closed -$625K
PDD icon
1955
Pinduoduo
PDD
$118B
– –
-49,947
Closed -$6.6M
PDD icon
1956
PUT
Pinduoduo
PDD
$118B
– –
-27,000
Closed -$3.57M
PDSB icon
1957
CALL
PDS Biotechnology
PDSB
$38.1M
– –
-219,000
Closed -$221K
PEG icon
1958
CALL
Public Service Enterprise Group
PEG
$39.8B
– –
-109,100
Closed -$9.11M
PENN icon
1959
CALL
PENN Entertainment
PENN
$2.74B
– –
-143,900
Closed -$2.77M
PFGC icon
1960
Performance Food Group
PFGC
$17.5B
– –
-17,800
Closed -$1.72M
PG icon
1961
Procter & Gamble
PG
$343B
– –
-9,000
Closed -$1.33M
PG icon
1962
PUT
Procter & Gamble
PG
$343B
– –
-43,700
Closed -$6.71M
PGEN icon
1963
PUT
Precigen
PGEN
$1.93B
– –
-1,130,000
Closed -$3.72M
PGRE
1964
DELISTED
Paramount Group
PGRE
– –
-70,000
Closed -$458K
PGRE
1965
PUT
DELISTED
Paramount Group
PGRE
– –
-125,000
Closed -$818K
PHM icon
1966
Pultegroup
PHM
$24.5B
– –
-9,300
Closed -$1.14M
PM icon
1967
PUT
Philip Morris
PM
$301B
– –
-70,000
Closed -$11.4M
PMT
1968
CALL
PennyMac Mortgage Investment
PMT
$849M
– –
-599,200
Closed -$7.35M
PMT
1969
PUT
PennyMac Mortgage Investment
PMT
$849M
– –
-150,000
Closed -$1.84M
PPL
1970
CALL
PPL Corp
PPL
$27.3B
– –
-145,000
Closed -$5.39M
PR
1971
PUT
Permian Resources
PR
$17.9B
– –
-25,000
Closed -$320K
PRGS icon
1972
CALL
Progress Software
PRGS
$1.55B
– –
-10,000
Closed -$439K
PRGS icon
1973
PUT
Progress Software
PRGS
$1.55B
– –
-10,000
Closed -$439K
PRGO icon
1974
Perrigo
PRGO
$1.4B
– –
-110,000
Closed -$2.45M
PRGO icon
1975
PUT
Perrigo
PRGO
$1.4B
– –
-135,000
Closed -$3.01M
77 78
79
80 81

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.