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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
TXRH icon
2076
Texas Roadhouse
TXRH
$12.7B
– –
-7,162
Closed -$1.19M
TXRH icon
2077
PUT
Texas Roadhouse
TXRH
$12.7B
– –
-127,300
Closed -$21.2M
U icon
2078
Unity
U
$12.5B
– –
-36,959
Closed -$1.51M
UHS icon
2079
CALL
Universal Health Services
UHS
$9.43B
– –
-20,900
Closed -$4.27M
UNH icon
2080
CALL
UnitedHealth
UNH
$382B
– –
-50,000
Closed -$17.3M
URGN icon
2081
PUT
UroGen Pharma
URGN
$2B
– –
-70,000
Closed -$1.4M
UTI icon
2082
CALL
Universal Technical Institute
UTI
$2.08B
– –
-111,700
Closed -$3.64M
VAL icon
2083
Valaris
VAL
$5.51B
– –
-8,300
Closed -$405K
VAL icon
2084
PUT
Valaris
VAL
$5.51B
– –
-132,000
Closed -$6.44M
VEL icon
2085
CALL
Velocity Financial
VEL
$683M
– –
-250,000
Closed -$4.54M
VEL icon
2086
PUT
Velocity Financial
VEL
$683M
– –
-248,100
Closed -$4.5M
VIR icon
2087
CALL
Vir Biotechnology
VIR
$1.47B
– –
-40,000
Closed -$228K
VITL icon
2088
Vital Farms
VITL
$558M
– –
-42,000
Closed -$1.73M
VKTX icon
2089
PUT
Viking Therapeutics
VKTX
$4.04B
– –
-76,900
Closed -$2.02M
VLO icon
2090
PUT
Valero Energy
VLO
$89.8B
– –
-25,000
Closed -$4.26M
VNDA icon
2091
Vanda Pharmaceuticals
VNDA
$312M
– –
-22,067
Closed -$121K
VNET
2092
CALL
VNET Group
VNET
$2.05B
– –
-46,000
Closed -$475K
VNET
2093
VNET Group
VNET
$2.05B
– –
-4,000
Closed -$41.3K
VRDN icon
2094
Viridian Therapeutics
VRDN
$2.13B
– –
-8,956
Closed -$193K
VRDN icon
2095
PUT
Viridian Therapeutics
VRDN
$2.13B
– –
-46,500
Closed -$1M
VRNS icon
2096
Varonis Systems
VRNS
$5.25B
– –
-5,750
Closed -$330K
VRNT
2097
DELISTED
Verint Systems
VRNT
– –
-34,118
Closed -$691K
VRRM icon
2098
Verra Mobility
VRRM
$615M
– –
-33,082
Closed -$817K
VRSN icon
2099
VeriSign
VRSN
$25.3B
– –
-6,017
Closed -$1.68M
VRSN icon
2100
PUT
VeriSign
VRSN
$25.3B
– –
-236,400
Closed -$66.1M
82 83
84
85 86

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.