We are live on ! Find out more
CM

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
RRC icon
2001
PUT
Range Resources
RRC
$9.11B
– –
-80,000
Closed -$3.01M
RSKD icon
2002
Riskified
RSKD
$672M
– –
-59,940
Closed -$281K
RVMD icon
2003
Revolution Medicines
RVMD
$40.2B
– –
-314,836
Closed -$20.6M
RVMD icon
2004
PUT
Revolution Medicines
RVMD
$40.2B
– –
-54,800
Closed -$2.56M
RXRX icon
2005
PUT
Recursion Pharmaceuticals
RXRX
$1.57B
– –
-30,000
Closed -$146K
RYTM icon
2006
CALL
Rhythm Pharmaceuticals
RYTM
$7B
– –
-50,100
Closed -$5.06M
RYTM icon
2007
PUT
Rhythm Pharmaceuticals
RYTM
$7B
– –
-22,500
Closed -$2.27M
SAND
2008
DELISTED
Sandstorm Gold
SAND
– –
-70,745
Closed -$886K
SANM icon
2009
PUT
Sanmina
SANM
$11.2B
– –
-90,000
Closed -$10.4M
ECHO
2010
EchoStar
ECHO
$25.5B
– –
-418,400
Closed -$34.1M
SEAT icon
2011
CALL
Vivid Seats
SEAT
$77M
– –
-521,000
Closed -$8.66M
SG icon
2012
Sweetgreen
SG
$713M
– –
-96,693
Closed -$772K
SG icon
2013
PUT
Sweetgreen
SG
$713M
– –
-326,800
Closed -$2.61M
SGRY icon
2014
CALL
Surgery Partners
SGRY
$2.06B
– –
-71,800
Closed -$1.55M
SGRY icon
2015
Surgery Partners
SGRY
$2.06B
– –
-32,362
Closed -$700K
SGRY icon
2016
PUT
Surgery Partners
SGRY
$2.06B
– –
-325,000
Closed -$7.03M
SHCO
2017
DELISTED
Soho House & Co
SHCO
– –
-92,960
Closed -$823K
SHCO
2018
PUT
DELISTED
Soho House & Co
SHCO
– –
-10,000
Closed -$88.5K
SHOO icon
2019
Steven Madden
SHOO
$3.12B
– –
-27,660
Closed -$1.07M
SII
2020
CALL
Sprott
SII
$2.65B
– –
-120,000
Closed -$9.98M
SIRI icon
2021
SiriusXM
SIRI
$10B
– –
-7,184
Closed -$167K
SJM icon
2022
PUT
J.M. Smucker
SJM
$12.6B
– –
-39,000
Closed -$4.24M
SLG icon
2023
SL Green Realty
SLG
$3.88B
– –
-6,300
Closed -$311K
SLG icon
2024
PUT
SL Green Realty
SLG
$3.88B
– –
-45,000
Closed -$2.69M
SM icon
2025
SM Energy
SM
$7.96B
– –
-129,389
Closed -$3.23M
79 80
81
82 83

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.