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Caption Management Portfolio holdings

AUM $21.5B
1-Year Est. Return 81.81%
This Fund
S&P 500
This Quarter Est. Return
-0.74%
1 Year Est. Return
+81.81%
3 Year Est. Return
+226.72%
5 Year Est. Return
+294.21%
10 Year Est. Return
–
AUM
$17.1B
AUM Growth
+$2.54B
Cap. Flow
-$40.7M
Cap. Flow %
-0.24%
Top 10 Hldgs %
21.61%
Holding
2,194
New
682
Increased
333
Reduced
357
Closed
710
Avg Time Held Equity + Options
1.8 quarters
Top 10 Avg Time Held Equity + Options
0.6 quarters
Top 20 Avg Time Held Equity + Options
0.6 quarters
Avg Time Held Equity only
1.5 quarters
Top 10 Avg Time Held Equity only
1.1 quarters
Top 20 Avg Time Held Equity only
0.8 quarters

Top Buys

Rank Stock Value
1
OWL icon
Blue Owl Capital
OWL
+$166M
2
META icon
Meta Platforms (Facebook)
META
+$72.1M
3
NVDA icon
NVIDIA
NVDA
+$63.6M
4
TTWO icon
Take-Two Interactive
TTWO
+$56.8M
5
BUG icon
Global X Cybersecurity ETF
BUG
+$23.5M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$128M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$124M
3
NFLX icon
Netflix
NFLX
+$48.3M
4
MSFT icon
Microsoft
MSFT
+$33M
5
BMY icon
Bristol-Myers Squibb
BMY
+$31.3M

Sector Composition

Rank Sector Weight
1 Miscellaneous 88.8%
2 Technology 2.44%
3 Healthcare 2.37%
4 Consumer Discretionary 1.9%
5 Financials 1.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
META icon
1
CALL
Meta Platforms (Facebook)
META
$1.89T
$1.14B 6.68%
+2,000,000
New +$1.28B
2026 Q1
0 quarters
UTHR icon
2
CALL
United Therapeutics
UTHR
$23.6B
$396M 2.31%
667,200
+444,400
+199% +$221M
2024 Q4
5 quarters
CVNA icon
3
PUT
Carvana
CVNA
$42.8B
$358M 2.09%
5,688,000
+4,011,000
+239% +$298M
2024 Q1
8 quarters
WBD icon
4
PUT
DELISTED
Warner Bros
WBD
$327M 1.91%
11,916,600
+6,811,900
+133% +$191M
2025 Q3
2 quarters
EA icon
5
PUT
DELISTED
Electronic Arts
EA
$277M 1.62%
+1,358,600
New +$274M
2026 Q1
0 quarters
NVDA icon
6
PUT
NVIDIA
NVDA
$5.46T
$275M 1.6%
1,575,000
+325,000
+26% +$59.6M
2025 Q3
2 quarters
NVDA icon
7
NVIDIA
NVDA
$5.46T
$263M 1.54%
1,507,700
+346,600
+30% +$63.6M
2025 Q3
2 quarters
UTHR icon
8
PUT
United Therapeutics
UTHR
$23.6B
$243M 1.42%
410,000
+250,200
+157% +$125M
2024 Q4
5 quarters
OWL icon
9
PUT
Blue Owl Capital
OWL
$6.39B
$210M 1.22%
22,950,400
+20,372,300
+790% +$246M
2025 Q1
4 quarters
AMZN icon
10
CALL
Amazon
AMZN
$2.8T
$208M 1.22%
+1,000,000
New +$220M
2026 Q1
0 quarters
CVNA icon
11
CALL
Carvana
CVNA
$42.8B
$182M 1.06%
2,897,500
-336,500
-10% -$25M
2024 Q4
5 quarters
NVDA icon
12
CALL
NVIDIA
NVDA
$5.46T
$156M 0.91%
896,000
+500,000
+126% +$91.7M
2025 Q4
1 quarter
WBD icon
13
CALL
DELISTED
Warner Bros
WBD
$149M 0.87%
5,425,800
+451,300
+9% +$12.6M
2025 Q1
4 quarters
OWL icon
14
Blue Owl Capital
OWL
$6.39B
$138M 0.81%
15,117,955
+13,720,332
+982% +$166M
2025 Q3
2 quarters
TTWO icon
15
PUT
Take-Two Interactive
TTWO
$39B
$131M 0.76%
661,300
+538,800
+440% +$117M
2025 Q4
1 quarter
MSFT icon
16
CALL
Microsoft
MSFT
$4.02T
$130M 0.76%
350,000
+100,000
+40% +$41.8M
2025 Q4
1 quarter
IGV icon
17
CALL
iShares Expanded Tech-Software Sector ETF
IGV
$14.9B
$123M 0.72%
+1,537,700
New +$136M
2026 Q1
0 quarters
LITE icon
18
CALL
Lumentum
LITE
$90.2B
$123M 0.72%
175,000
+15,000
+9% +$8.24M
2025 Q1
4 quarters
RVMD icon
19
PUT
Revolution Medicines
RVMD
$41.6B
$119M 0.7%
+1,226,900
New +$124M
2026 Q1
0 quarters
XBI icon
20
PUT
State Street SPDR S&P Biotech ETF
XBI
$10B
$114M 0.67%
894,100
+474,100
+113% +$59.2M
2025 Q1
4 quarters
UNH icon
21
PUT
UnitedHealth
UNH
$340B
$113M 0.66%
417,800
+317,800
+318% +$94.6M
2025 Q2
3 quarters
TSLA icon
22
PUT
Tesla
TSLA
$1.49T
$112M 0.65%
300,000
– –
2024 Q3
6 quarters
TSLA icon
23
Tesla
TSLA
$1.49T
$111M 0.65%
299,700
-300
-0.1% -$124K
2024 Q4
5 quarters
AMZN icon
24
Amazon
AMZN
$2.8T
$107M 0.63%
513,750
-61,250
-11% -$13.5M
2025 Q3
2 quarters
AMZN icon
25
PUT
Amazon
AMZN
$2.8T
$104M 0.61%
500,000
-75,000
-13% -$16.5M
2025 Q3
2 quarters
1
2 3 4 5

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LCIP
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BPA
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SA
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AA
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RAM
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Caption Management's Q1 2026 Portfolio in Review

As of Q1 2026, Caption Management held 2,194 positions worth $17.1B, up 17% from $14.6B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Caption Management's Q1 2026 filing shows 682 new, 333 increased, 357 reduced and 710 closed positions. Its largest new stake was Meta Platforms (Facebook): 112,500 shares worth $64.4M. The largest sale was Apple, an estimated $128M.

By sector, the portfolio is most concentrated in Miscellaneous at 89% of assets, up from 85% a quarter earlier, followed by Technology and Healthcare.

  • Caption Management's largest Q1 2026 buy was Meta Platforms (Facebook): 112,500 shares worth $64.4M.
  • Caption Management added most to Blue Owl Capital in Q1 2026, an estimated $166M increase.
  • Caption Management's biggest Q1 2026 reduction was Alphabet (Google) Class C, cutting an estimated $124M.
  • Caption Management fully exited Apple in Q1 2026, selling an estimated $128M.
  • Caption Management's ten largest holdings make up 22% of its $17.1B portfolio in Q1 2026.
  • Caption Management opened 682 new positions and closed 710 in Q1 2026.
  • Caption Management's portfolio value rose 17% quarter-over-quarter to $17.1B.

Based on Caption Management's 13F filing for Q1 2026, filed 15 May 2026.