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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
TENB icon
2051
Tenable Holdings
TENB
$3.56B
– –
-21,000
Closed -$612K
TFC icon
2052
CALL
Truist Financial
TFC
$63.2B
– –
-172,300
Closed -$7.88M
TGB
2053
Trekor Metals
TGB
$2.56B
– –
-36,166
Closed -$170K
TGNA
2054
CALL
DELISTED
TEGNA Inc
TGNA
– –
-200,000
Closed -$4.07M
TGNA
2055
PUT
DELISTED
TEGNA Inc
TGNA
– –
-50,000
Closed -$1.02M
TGTX icon
2056
TG Therapeutics
TGTX
$8.58B
– –
-50,276
Closed -$1.64M
TME icon
2057
CALL
Tencent Music
TME
$14.5B
– –
-205,000
Closed -$4.78M
TMO icon
2058
CALL
Thermo Fisher Scientific
TMO
$211B
– –
-44,100
Closed -$21.4M
TOST icon
2059
Toast
TOST
$16.8B
– –
-24,000
Closed -$876K
TPR icon
2060
CALL
Tapestry
TPR
$28.8B
– –
-98,100
Closed -$11.1M
TPR icon
2061
PUT
Tapestry
TPR
$28.8B
– –
-85,000
Closed -$9.62M
TRGP icon
2062
CALL
Targa Resources
TRGP
$60.4B
– –
-128,700
Closed -$21.6M
TRN icon
2063
Trinity Industries
TRN
$2.97B
– –
-22,050
Closed -$618K
TRN icon
2064
PUT
Trinity Industries
TRN
$2.97B
– –
-45,000
Closed -$1.26M
TRVI icon
2065
CALL
Trevi Therapeutics
TRVI
$2.49B
– –
-24,000
Closed -$220K
TRVI icon
2066
PUT
Trevi Therapeutics
TRVI
$2.49B
– –
-70,000
Closed -$641K
TSAT icon
2067
CALL
Telesat
TSAT
$570M
– –
-10,000
Closed -$265K
TSAT icon
2068
Telesat
TSAT
$570M
– –
-86,835
Closed -$2.3M
TSAT icon
2069
PUT
Telesat
TSAT
$570M
– –
-20,000
Closed -$530K
TSM icon
2070
TSMC
TSM
$2.09T
– –
-2,100
Closed -$616K
TTD icon
2071
CALL
Trade Desk
TTD
$8.13B
– –
-100,000
Closed -$4.9M
TTD icon
2072
Trade Desk
TTD
$8.13B
– –
-49,550
Closed -$2.2M
TTEK icon
2073
CALL
Tetra Tech
TTEK
$8.23B
– –
-17,500
Closed -$584K
TVTX icon
2074
Travere Therapeutics
TVTX
$5.33B
– –
-60,193
Closed -$1.96M
TXN icon
2075
PUT
Texas Instruments
TXN
$255B
– –
-206,000
Closed -$37.8M
81 82
83
84 85

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VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
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BBA
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Macquarie Group
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FCM
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AIMCA
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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.