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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
ULS icon
2151
CALL
UL Solutions
ULS
$17.2B
– –
-30,000
Closed -$2.13M
ULS icon
2152
PUT
UL Solutions
ULS
$17.2B
– –
-30,000
Closed -$2.13M
CTRI icon
2153
CALL
Centuri Holdings
CTRI
$2.79B
– –
-70,000
Closed -$1.48M
MRX
2154
CALL
Marex Group Limited Ordinary Shares
MRX
$4.72B
– –
-20,000
Closed -$672K
MRX
2155
PUT
Marex Group Limited Ordinary Shares
MRX
$4.72B
– –
-20,000
Closed -$672K
LB
2156
LandBridge Co
LB
$2.12B
– –
-20,000
Closed -$1.07M
TLN
2157
CALL
Talen Energy Corp
TLN
$17.2B
– –
-50,000
Closed -$21.3M
CNH
2158
CALL
CNH Industrial
CNH
$13.8B
– –
-20,000
Closed -$217K
ATYR
2159
CALL
aTyr Pharma
ATYR
$46.4M
– –
-510,000
Closed -$368K
QXO
2160
PUT
QXO Inc
QXO
$14.2B
– –
-78,000
Closed -$1.49M
RAPP
2161
Rapport Therapeutics
RAPP
$1.95B
– –
-5,000
Closed -$149K
RAPP
2162
PUT
Rapport Therapeutics
RAPP
$1.95B
– –
-50,000
Closed -$1.49M
WAY
2163
Waystar Holding Corp
WAY
$4.32B
– –
-6,500
Closed -$246K
ORKA
2164
Oruka Therapeutics
ORKA
$5.56B
– –
-2,000
Closed -$38.5K
ORKA
2165
PUT
Oruka Therapeutics
ORKA
$5.56B
– –
-11,300
Closed -$217K
MBX
2166
MBX Biosciences
MBX
$2.95B
– –
-20,000
Closed -$485K
UPB
2167
CALL
Upstream Bio Inc
UPB
$349M
– –
-70,000
Closed -$1.32M
UPB
2168
Upstream Bio Inc
UPB
$349M
– –
-18,196
Closed -$342K
MAGN
2169
CALL
Magnera Corp
MAGN
$488M
– –
-150,000
Closed -$1.76M
PRMB
2170
Primo Brands
PRMB
$8.24B
– –
-1,200
Closed -$26.5K
WLACW
2171
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
– –
-111,000
Closed -$311K
TBCH
2172
CALL
Turtle Beach Corp
TBCH
$239M
– –
-105,000
Closed -$1.67M
MAZE
2173
Maze Therapeutics
MAZE
$1.53B
– –
-4,000
Closed -$104K
MAZE
2174
PUT
Maze Therapeutics
MAZE
$1.53B
– –
-30,000
Closed -$778K
XIFR
2175
XPLR Infrastructure LP
XIFR
$1.18B
– –
-81,845
Closed -$832K
84 85 86
87
88

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.