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Caption Management, LLC — 13F Holdings & Portfolio

CIK 1706766 · latest 13F-HR filed 2026-05-15

Backtest portfolio

Caption Management, LLC manages $17.12B in 13F-reported U.S. long-equity assets across 1,484 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are META (6.68%), UTHR (2.31%), CVNA (2.09%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 257 new positions, exited 263, added to 120, and trimmed 146.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$17.12B

Long-equity book

Holdings

1,484

Distinct positions

Period

2026-03-31

Filed 2026-05-15

Q/Q Activity

+257 / −263 / ↑120 / ↓146

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • BLUE OWL CAPITAL INC$117.1M +561.0%
  • NVIDIA CORPORATION$46.4M +21.4%
  • UNITED THERAPEUTICS CORP DEL$17.3M +64.5%
  • PLANET LABS PBC$17.3M +227.1%
  • IMMUNOCORE HLDGS PLC$16.7M +509.0%
Show all 120 →

Top Trims

  • ALPHABET INC-$124.2M -99.7%
  • NETFLIX INC.-$50.9M -71.4%
  • MICROSOFT CORP-$41.0M -81.4%
  • ORACLE CORP-$32.8M -93.8%
  • ADVANCED MICRO DEVICES INC-$28.0M -87.0%
Show all 146 →

New Positions

  • META PLATFORMS INC$64.4M
  • TAKE-TWO INTERACTIVE SOFTWAR$51.6M
  • GLOBAL X FDS$21.5M
  • JOHNSON & JOHNSON$21.4M
  • STANLEY BLACK & DECKER INC$19.9M
Show all 257 →

Exited Positions

  • APPLE INC$127.8M
  • BRISTOL-MYERS SQUIBB CO$29.0M
  • INSMED INC$22.6M
  • VIASAT INC$20.8M
  • TERAWULF INC$19.1M
Show all 263 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 META PLATFORMS INC Call META 30303M102 $1.14B 6.68% 2,000,000 SH
2 UNITED THERAPEUTICS CORP DEL Call UTHR 91307C102 $395.6M 2.31% 667,200 SH
3 CARVANA CO Put CVNA 146869102 $357.6M 2.09% 1,137,600 SH
4 WARNER BROS DISCOVERY INC Put WBD 934423104 $327.2M 1.91% 11,916,600 SH
5 ELECTRONIC ARTS INC Put EA 285512109 $277.0M 1.62% 1,358,600 SH
6 NVIDIA CORPORATION Put NVDA 67066G104 $274.7M 1.60% 1,575,000 SH
7 NVIDIA CORPORATION NVDA 67066G104 $262.9M 1.54% 1,507,700 SH
8 UNITED THERAPEUTICS CORP DEL Put UTHR 91307C102 $243.1M 1.42% 410,000 SH
9 BLUE OWL CAPITAL INC Put OWL 09581B103 $209.5M 1.22% 22,950,400 SH
10 AMAZON COM INC Call AMZN 023135106 $208.3M 1.22% 1,000,000 SH
11 CARVANA CO Call CVNA 146869102 $182.2M 1.06% 579,500 SH
12 NVIDIA CORPORATION Call NVDA 67066G104 $156.3M 0.91% 896,000 SH
13 WARNER BROS DISCOVERY INC Call WBD 934423104 $149.0M 0.87% 5,425,800 SH
14 BLUE OWL CAPITAL INC OWL 09581B103 $138.0M 0.81% 15,117,955 SH
15 TAKE-TWO INTERACTIVE SOFTWAR Put TTWO 874054109 $130.6M 0.76% 661,300 SH
16 MICROSOFT CORP Call MSFT 594918104 $129.6M 0.76% 350,000 SH
17 ISHARES TR Call IGV 464287515 $123.1M 0.72% 1,537,700 SH
18 LUMENTUM HLDGS INC Call LITE 55024U109 $123.0M 0.72% 175,000 SH
19 REVOLUTION MEDICINES INC Put RVMD 76155X100 $119.3M 0.70% 1,226,900 SH
20 SPDR SERIES TRUST Put XBI 78464A870 $114.2M 0.67% 894,100 SH
21 UNITEDHEALTH GROUP INC Put UNH 91324P102 $113.1M 0.66% 417,800 SH
22 TESLA INC Put TSLA 88160R101 $111.5M 0.65% 300,000 SH
23 TESLA INC TSLA 88160R101 $111.4M 0.65% 299,700 SH
24 AMAZON COM INC AMZN 023135106 $107.0M 0.62% 513,750 SH
25 AMAZON COM INC Put AMZN 023135106 $104.1M 0.61% 500,000 SH
26 ISHARES INC Put EWC 464286509 $98.5M 0.58% 1,798,300 SH
27 ROYAL CARIBBEAN GROUP Call RCL V7780T103 $98.2M 0.57% 357,000 SH
28 ADVANCED MICRO DEVICES INC Put AMD 007903107 $97.3M 0.57% 478,500 SH
29 CELESTICA INC Call CLS 15101Q207 $96.1M 0.56% 341,000 SH
30 NETFLIX INC. Call NFLX 64110L106 $91.1M 0.53% 947,500 SH
31 SPDR SERIES TRUST Call XBI 78464A870 $84.8M 0.50% 663,800 SH
32 NETFLIX INC. Put NFLX 64110L106 $84.3M 0.49% 876,500 SH
33 MP MATERIALS CORP Call MP 553368101 $83.2M 0.49% 1,723,500 SH
34 CG ONCOLOGY INC Call CGON 156944100 $82.6M 0.48% 1,220,400 SH
35 CYTOKINETICS INC Call CYTK 23282W605 $81.1M 0.47% 1,230,000 SH
36 CG ONCOLOGY INC Put CGON 156944100 $78.5M 0.46% 1,160,000 SH
37 AST SPACEMOBILE INC Call ASTS 00217D100 $77.9M 0.45% 940,000 SH
38 CONSTELLATION ENERGY CORP Call CEG 21037T109 $77.3M 0.45% 276,700 SH
39 ONEOK INC NEW Call OKE 682680103 $74.6M 0.44% 824,800 SH
40 SELECT SECTOR SPDR TR Put XLP 81369Y308 $73.7M 0.43% 898,500 SH
41 ELECTRONIC ARTS INC Call EA 285512109 $71.0M 0.41% 348,100 SH
42 UNITEDHEALTH GROUP INC Call UNH 91324P102 $70.6M 0.41% 261,000 SH
43 BURLINGTON STORES INC Put BURL 122017106 $70.6M 0.41% 217,000 SH
44 CELCUITY INC Call CELC 15102K100 $68.5M 0.40% 600,000 SH
45 REDDIT INC Call RDDT 75734B100 $67.6M 0.39% 501,900 SH
46 THE CIGNA GROUP Call CI 125523100 $64.8M 0.38% 243,000 SH
47 PRAXIS PRECISION MEDICINES I Put PRAX 74006W207 $64.4M 0.38% 200,000 SH
48 META PLATFORMS INC META 30303M102 $64.4M 0.38% 112,500 SH
49 CONSTELLATION ENERGY CORP Put CEG 21037T109 $62.9M 0.37% 225,400 SH
50 WILLIAMS COS INC Put WMB 969457100 $62.8M 0.37% 862,500 SH
Filing History
Period Filed AUM Holdings Accession
2026-03-31 2026-05-15 $17.12B 1,484 0001706766-26-000004
2025-12-31 2026-02-17 $14.58B 1,512 0001706766-26-000002
2025-09-30 2025-11-14 $12.82B 1,607 0001706766-25-000009