Caption Management, LLC
Long book
$2.10B
Q1 2026
Positions
533
Top-10 weight
41%
concentration
Last quarter
+15.0%
SPY +14.8%
Turnover
65%
of book per quarter
Strategy in plain words
auto-generated from filingsCaption Management, LLC is a quantitative fund whose holdings reflect models, not opinions, running a $2.10B US long book across 533 positions.
The portfolio is moderately concentrated (top 10 ≈ 41% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NVIDIA CORP, BLUE OWL CAPITAL INC, TESLA INC, AMAZON.COM INC, META PLATFORMS INC-CLASS A.
Over the last 9 quarters its long book ran on average 0.8pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.6%
Q2 2024
+4.4%
Q3 2024
+3.9%
Q4 2024
-16.0%
Q1 2025
+22.2%
Q2 2025
+16.5%
Q3 2025
+3.2%
Q4 2025
-2.9%
Q1 2026
+15.0%
Sector allocation
Technology 32%
Healthcare 16%
Financials 12%
Industrials 12%
Consumer discretionary 10%
Services media 4%
Materials 4%
Other 4%
Long book by quarter
What does Caption Management, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 1.5M | $262.9M | 12.5% | +29.9% |
| OWL BLUE OWL CAPITAL INC | Financials | 15.1M | $138.0M | 6.6% | +981.7% |
| TSLA TESLA INC | Industrials | 299.7K | $111.4M | 5.3% | -0.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 513.8K | $107.0M | 5.1% | -10.7% |
| META META PLATFORMS INC-CLASS A | Technology | 112.5K | $64.4M | 3.1% | New |
| TTWO TAKE-TWO INTERACTIVE SOFTWRE | Technology | 261.1K | $51.6M | 2.5% | New |
| UTHR UNITED THERAPEUTICS CORP | Healthcare | 74.4K | $44.1M | 2.1% | +35.2% |
| CGON CG ONCOLOGY INC | Healthcare | 378.5K | $25.6M | 1.2% | +23.3% |
| PL PLANET LABS PBC | Technology | 1.5M | $24.9M | 1.2% | +71.2% |
| GOOGL ALPHABET INC-CL A | Technology | 84.8K | $24.4M | 1.2% | +41.3% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 374.4K | $23.5M | 1.1% | +311.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 87.5K | $21.4M | 1.0% | New |
| NFLX NETFLIX INC | Services media | 212.1K | $20.4M | 1.0% | -72.1% |
| CEG CONSTELLATION ENERGY | Utilities | 71.9K | $20.1M | 1.0% | +492.0% |
| SWK STANLEY BLACK & DECKER INC | Industrials | 280.5K | $19.9M | 1.0% | New |
| WMT WALMART INC | Consumer discretionary | 140.0K | $17.4M | 0.8% | New |
| CYTK CYTOKINETICS INC | Healthcare | 245.0K | $16.1M | 0.8% | +775.0% |
| DKNG DRAFTKINGS INC-CL A | Services media | 678.9K | $14.7M | 0.7% | New |
| ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 370.0K | $14.5M | 0.7% | New |
| FND FLOOR & DECOR HOLDINGS INC-A | Consumer discretionary | 284.1K | $14.4M | 0.7% | +1794.2% |
| V VISA INC-CLASS A SHARES | Services media | 46.6K | $14.1M | 0.7% | +90.4% |
| SLNOEUR SOLENO THERAPEUTICS INC | — | 420.1K | $14.1M | 0.7% | +898.0% |
| GXO GXO LOGISTICS INC | Industrials | 270.0K | $14.0M | 0.7% | New |
| UNH UNITEDHEALTH GROUP INC | Financials | 49.4K | $13.4M | 0.6% | +45.7% |
| SNDK SANDISK CORP | Technology | 18.3K | $11.6M | 0.6% | New |
| GH GUARDANT HEALTH INC | Healthcare | 115.2K | $10.6M | 0.5% | New |
| PEP PEPSICO INC | Consumer staples | 68.5K | $10.6M | 0.5% | New |
| TROX TRONOX HOLDINGS PLC | Materials | 1.1M | $10.6M | 0.5% | +82.9% |
| CORT CORCEPT THERAPEUTICS INC | Healthcare | 260.0K | $10.5M | 0.5% | New |
| ANIP ANI PHARMACEUTICALS INC | Healthcare | 135.9K | $10.4M | 0.5% | +135.2% |
| SIG SIGNET JEWELERS LTD | Consumer discretionary | 123.4K | $10.4M | 0.5% | +5507.1% |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 57.0K | $9.9M | 0.5% | +0.4% |
| DAL DELTA AIR LINES INC | Industrials | 142.8K | $9.5M | 0.5% | +1541.4% |
| DHR DANAHER CORP | Technology | 49.7K | $9.4M | 0.4% | New |
| MSFT MICROSOFT CORP | Technology | 25.4K | $9.4M | 0.4% | -75.7% |
| MP MP MATERIALS CORP | Materials | 181.7K | $8.8M | 0.4% | +43.2% |
| NN NEXTNAV INC. | Technology | 1.3M | $8.5M | 0.4% | +59.5% |
| Q QNITY ELECTRONICS INC | Technology | 70.0K | $8.1M | 0.4% | -11.8% |
| ARES ARES MANAGEMENT CORP - A | Financials | 70.0K | $7.6M | 0.4% | New |
| SHOO STEVEN MADDEN LTD | Other | 225.0K | $7.6M | 0.4% | New |
| HRMY HARMONY BIOSCIENCES HOLDINGS | Healthcare | 272.3K | $7.6M | 0.4% | New |
| BX BLACKSTONE INC | Financials | 65.2K | $7.5M | 0.4% | New |
| ABBV ABBVIE INC | Healthcare | 33.7K | $7.3M | 0.3% | +109.3% |
| WIX WIX.COM LTD | Technology | 79.5K | $7.2M | 0.3% | New |
| AVAV AEROVIRONMENT INC | Industrials | 37.8K | $6.9M | 0.3% | New |
| AVTX AVALO THERAPEUTICS INC | Healthcare | 455.0K | $6.8M | 0.3% | +764.3% |
| CRWV COREWEAVE INC-CL A | Technology | 87.0K | $6.7M | 0.3% | +295.5% |
| DOW DOW INC | Materials | 154.3K | $6.4M | 0.3% | +339.3% |
| QGEN QIAGEN N.V. | Healthcare | 160.1K | $6.4M | 0.3% | New |
| CL COLGATE-PALMOLIVE CO | Other | 75.0K | $6.4M | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 1484 | $17.12B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 1512 | $14.58B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 1607 | $12.82B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 1379 | $9.03B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 1439 | $10.40B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 1418 | $10.58B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 1226 | $6.27B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 1114 | $6.49B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 1125 | $6.59B | canonical | SEC ↗ |
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