Caption Management, LLC
CIK
1706766
Location
OKLAHOMA CITY, OK
Portfolio Value
Large
$15,659,834,917
Diversification
Diversified
Filing Date
Global Rank
#313
/ 8,621
▲ 50
· as of Mar 2026
Top Industry
Biotechnology
15.0%
3Y Alpha vs SPY
+1.9%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Not a measure of this manager's performance.
Most of Caption Management, LLC's reported book is option positions, which a stock-only clone
cannot replicate. The figures below are the return of the
14% that is ordinary stock — as little as
9% in one quarter — so a manager whose options
thesis lost money can still show a large gain here.
Cloned portfolio
+74.0%
SPY
+67.5%
Annualised alpha
+1.5%
Max drawdown
−28.2%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 14% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
819 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
8.1%
+4.1 pts
Top 5
22.6%
+9.8 pts
Top 10
31.3%
+10.3 pts
HHI
160
Diversified+79
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 27.7% | $4,342,803,060 |
| Communication Services | 18.8% | $2,941,987,488 |
| Technology | 16.9% | $2,646,341,666 |
| Consumer Cyclical | 10.0% | $1,566,548,468 |
| Financial Services | 7.4% | $1,161,627,879 |
| Industrials | 6.0% | $942,909,278 |
| Energy | 5.1% | $799,306,675 |
| Basic Materials | 3.9% | $608,797,624 |
| Consumer Defensive | 2.0% | $316,032,976 |
| Utilities | 1.4% | $224,893,020 |
| Real Estate | 0.6% | $91,636,227 |
| Unclassified | 0.1% | $16,950,556 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| OWL | Blue Owl Capital Inc. | +33,982,632 | 38,168,355 | $348,477,081 | |
| WBD | Warner Bros. Discovery, Inc. | +7,263,200 | 17,342,400 | $476,222,304 | |
| ADMA | Adma Biologics, Inc. | +2,971,200 | 3,333,700 | $30,036,637 | |
| FLG | Flagstar Bank, National Association | +2,654,200 | 3,071,300 | $40,449,021 | |
| KALV | KalVista Pharmaceuticals, Inc. | +2,312,093 | 2,430,000 | $48,915,900 | |
| HRTX | Heron Therapeutics, Inc. /De/ | +2,074,581 | 2,413,681 | $1,930,944 | |
| IMCR | Immunocore Holdings plc | +1,814,902 | 1,934,286 | $58,318,722 | |
| TEVA | Teva Pharmaceutical Industries Ltd | +1,809,558 | 2,044,058 | $61,567,026 | |
| NEXT | NextDecade Corp | +1,719,922 | 1,894,922 | $14,515,102 | |
| DKNG | DraftKings Inc. | +1,542,887 | 2,092,387 | $45,237,406 | |
| QURE | uniQure N.V. | +1,495,554 | 2,525,231 | $41,287,526 | |
| CGON | CG Oncology, Inc. | +1,449,634 | 2,758,880 | $186,720,998 | |
| CWAN | Clearwater Analytics Holdings, Inc. | +1,377,665 | 2,423,800 | $57,322,870 | |
| ALIT | Alight, Inc. / Delaware | +1,344,200 | 4,895,600 | $57,053,322 | |
| CYTK | Cytokinetics Inc | +1,333,501 | 1,856,600 | $122,368,506 | |
| EQX | Equinox Gold Corp. | +1,232,000 | 2,246,000 | $32,477,160 | |
| NVDA | Nvidia Corp | +1,171,600 | 3,978,700 | $693,885,280 | |
| SLNO | Soleno Therapeutics Inc | +1,154,743 | 1,589,343 | $53,211,203 | |
| TERN | Terns Pharmaceuticals, Inc. | +1,133,400 | 1,228,000 | $64,740,160 | |
| PINS | Pinterest, Inc. | +1,100,000 | 1,200,000 | $22,008,000 | |
| DHT | DHT Holdings, Inc. | +1,099,200 | 1,118,200 | $20,429,514 | |
| WMB | Williams Companies, Inc. | +1,083,400 | 1,369,300 | $99,657,654 | |
| BSX | Boston Scientific Corp | +1,059,100 | 1,881,600 | $118,070,400 | |
| GXO | GXO Logistics, Inc. | +1,053,800 | 1,138,800 | $59,046,780 | |
| PTON | Peloton Interactive, Inc. | +1,050,850 | 1,096,450 | $4,703,770 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| NNDM | Nano Dimension Ltd. | −7,584,574 | 2,075,300 | $3,528,010 | |
| WULF | Terawulf Inc. | −5,380,936 | 5,620,800 | $81,108,144 | |
| SOC | Sable Offshore Corp. | −5,025,947 | 487,600 | $8,055,152 | |
| RUN | Sunrun Inc. | −4,497,215 | 1,796,485 | $24,360,336 | |
| COMP | Compass, Inc. | −3,342,670 | 13,200 | $96,492 | |
| CMG | Chipotle Mexican Grill Inc | −2,623,380 | 836,020 | $26,761,000 | |
| CZR | Caesars Entertainment, Inc. | −2,321,997 | 1,063,939 | $28,119,907 | |
| EOSE | Eos Energy Enterprises, Inc. | −2,244,327 | 5,938,100 | $29,452,976 | |
| RCUS | Arcus Biosciences, Inc. | −1,853,065 | 76,033 | $1,642,312 | |
| NUVB | Nuvation Bio Inc. | −1,734,700 | 800,000 | $3,432,000 | |
| IREN | IREN Ltd | −1,723,760 | 1,287,000 | $44,118,360 | |
| OSG | Octave Specialty Group Inc | −1,388,797 | 1,028,497 | $4,782,511 | |
| ERAS | Erasca, Inc. | −1,374,900 | 612,500 | $9,910,250 | |
| BHVN | Biohaven Ltd. | −1,290,661 | 410,339 | $3,471,467 | |
| VSAT | Viasat Inc | −1,263,623 | 25,000 | $1,145,000 | |
| FHN | First Horizon Corp | −1,059,132 | 118,688 | $2,701,338 | |
| OSCR | Oscar Health, Inc. | −1,048,193 | 151,407 | $1,736,638 | |
| LQDA | Liquidia Corp | −1,039,738 | 366,600 | $13,835,484 | |
| URGN | UroGen Pharma Ltd. | −995,876 | 4,124 | $74,149 | |
| BMY | Bristol Myers Squibb Co | −967,700 | 495,000 | $30,021,750 | |
| HL | Hecla Mining Co/De/ | −949,300 | 100,000 | $1,863,000 | |
| RMNI | Rimini Street, Inc. | −937,860 | 1,300,000 | $4,264,000 | |
| NVO | Novo Nordisk A S | −879,571 | 335,600 | $12,333,300 | |
| XPOF | Xponential Fitness, Inc. | −850,480 | 42,200 | $254,044 | |
| RIOT | Riot Platforms, Inc. | −848,746 | 456,454 | $5,641,771 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| META | Meta Platforms, Inc. | 2,212,500 | $1,265,837,625 | |
| EA | Electronic Arts Inc. | 1,706,700 | $347,944,929 | |
| MDGL | Madrigal Pharmaceuticals, Inc. | 140,000 | $73,285,800 | |
| CI | Cigna Group | 273,000 | $72,822,750 | |
| VRSK | Verisk Analytics, Inc. | 300,000 | $56,925,000 | |
| SWK | Stanley Black & Decker, Inc. | 623,363 | $44,296,174 | |
| MASI | Masimo Corp | 232,900 | $41,425,923 | |
| CVX | Chevron Corp | 200,000 | $41,380,000 | |
| ELVN | Enliven Therapeutics, Inc. | 956,500 | $37,494,800 | |
| APGE | Apogee Therapeutics, Inc. | 395,400 | $33,280,818 | |
| GE | General Electric Co | 114,000 | $32,349,780 | |
| CRL | Charles River Laboratories International, Inc. | 169,000 | $29,152,500 | |
| APH | Amphenol Corp /De/ | 223,000 | $28,176,050 | |
| ADBE | Adobe Inc. | 111,500 | $27,103,420 | |
| VRTX | Vertex Pharmaceuticals Inc / Ma | 60,200 | $26,881,708 | |
| DHR | Danaher Corp /De/ | 136,200 | $25,823,520 | |
| AVAV | AeroVironment Inc | 137,344 | $25,140,819 | |
| PBR | Petrobras - Petroleo Brasileiro SA | 1,152,000 | $23,904,000 | |
| HOOD | Robinhood Markets, Inc. | 335,000 | $23,215,500 | |
| RTX | RTX Corp | 120,000 | $23,148,000 | |
| NYT | New York Times Co | 275,000 | $23,025,750 | |
| OMC | Omnicom Group Inc. | 300,000 | $22,593,000 | |
| HRMY | Harmony Biosciences Holdings, Inc. | 772,292 | $21,631,898 | |
| FICO | Fair Isaac Corp | 20,100 | $21,457,554 | |
| CRBG | Corebridge Financial, Inc. | 882,900 | $21,065,994 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AAPL | Apple Inc. | 940,000 | $255,548,400 | |
| LLY | ELI LILLY & Co | 111,440 | $119,762,348 | |
| MSTR | Strategy Inc | 590,000 | $89,650,500 | |
| EXAS | EXACT SCIENCES CORP | 648,879 | $65,900,151 | |
| LW | Lamb Weston Holdings, Inc. | 1,363,271 | $57,107,422 | |
| GMED | Globus Medical Inc | 547,400 | $47,793,494 | |
| CM | Canadian Imperial Bank Of Commerce /Can/ | 522,400 | $47,334,664 | |
| GD | General Dynamics Corp | 140,565 | $47,322,612 | |
| PLNT | Planet Fitness, Inc. | 358,300 | $38,864,801 | |
| BCH | Bank Of Chile | 944,941 | $35,907,758 | |
| RH | Rh | 179,540 | $32,164,591 | |
| SQM | Chemical & Mining Co Of Chile Inc | 461,682 | $31,763,721 | |
| LAD | Lithia Motors Inc | 93,200 | $30,973,156 | |
| AMBA | Ambarella Inc | 420,500 | $29,788,220 | |
| NBIS | Nebius Group N.V. | 350,800 | $29,363,713 | |
| DHI | Horton D R Inc /De/ | 189,000 | $27,221,670 | |
| URI | United Rentals, Inc. | 33,500 | $27,112,220 | |
| QCOM | Qualcomm Inc/De | 134,890 | $23,072,934 | |
| IMAX | Imax Corp | 584,800 | $21,614,208 | |
| NXT | Nextpower Inc. | 242,200 | $21,098,042 | |
| LULU | lululemon athletica inc. | 100,000 | $20,781,000 | |
| GEHC | GE HealthCare Technologies Inc. | 252,600 | $20,718,252 | |
| IAG | Iamgold Corp | 1,175,500 | $19,383,995 | |
| INSP | Inspire Medical Systems, Inc. | 190,200 | $17,542,146 | |
| MSM | Msc Industrial Direct Co Inc | 195,000 | $16,399,500 | |
| No positions match the current search. | ||||
819 positions ·
$15,659,834,917 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 819 positions by value
· page 1 of 17
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| META |
Meta Platforms, Inc.
PUT
CALL
+ SHARES
Communication Services
|
NEW | 2,212,500 | $1,265,837,625 | 8.08% | |
| NVDA |
Nvidia Corp
PUT
CALL
+ SHARES
Technology
|
Added | 3,978,700 | $693,885,280 | 4.43% | |
| UTHR |
UNITED THERAPEUTICS Corp
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,151,645 | $682,902,452 | 4.36% | |
| WBD |
Warner Bros. Discovery, Inc.
PUT
CALL
Communication Services
|
Added | 17,342,400 | $476,222,304 | 3.04% | |
| AMZN |
Amazon Com Inc
PUT
CALL
+ SHARES
Consumer Cyclical
|
Added | 2,013,750 | $419,403,712 | 2.68% | |
| OWL |
Blue Owl Capital Inc.
PUT
CALL
+ SHARES
Financial Services
|
Added | 38,168,355 | $348,477,081 | 2.23% | |
| EA |
Electronic Arts Inc.
PUT
CALL
Communication Services
|
NEW | 1,706,700 | $347,944,929 | 2.22% | |
| TSLA |
Tesla, Inc.
PUT
CALL
+ SHARES
Consumer Cyclical
|
Reduced | 639,700 | $237,808,475 | 1.52% | |
| TTWO |
Take Two Interactive Software Inc
PUT
CALL
+ SHARES
Communication Services
|
Added | 1,141,143 | $225,375,742 | 1.44% | |
| UNH |
Unitedhealth Group Inc
PUT
CALL
+ SHARES
Healthcare
|
Added | 728,150 | $197,030,108 | 1.26% | |
| NFLX |
Netflix Inc
PUT
CALL
+ SHARES
Communication Services
|
Added | 2,036,100 | $195,771,015 | 1.25% | |
| CGON |
CG Oncology, Inc.
PUT
CALL
+ SHARES
Healthcare
|
Added | 2,758,880 | $186,720,998 | 1.19% | |
| MSFT |
Microsoft Corp
PUT
CALL
+ SHARES
Technology
|
Added | 475,350 | $175,960,309 | 1.12% | |
| CEG |
Constellation Energy Corp
PUT
CALL
+ SHARES
Utilities
|
Added | 574,023 | $160,295,922 | 1.02% | |
| RVMD |
Revolution Medicines, Inc.
PUT
CALL
Healthcare
|
Added | 1,550,000 | $150,737,500 | 0.96% | |
| LITE |
Lumentum Holdings Inc.
CALL
+ SHARES
Technology
|
Added | 177,550 | $124,775,038 | 0.80% | |
| CYTK |
Cytokinetics Inc
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,856,600 | $122,368,506 | 0.78% | |
| RDDT |
Reddit, Inc.
PUT
CALL
Communication Services
|
Reduced | 888,900 | $119,690,385 | 0.76% | |
| BSX |
Boston Scientific Corp
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,881,600 | $118,070,400 | 0.75% | |
| CLS |
Celestica Inc
PUT
CALL
+ SHARES
Technology
|
Added | 392,156 | $110,462,502 | 0.71% | |
| CVNA |
Carvana Co.
PUT
CALL
Consumer Cyclical
|
Added | 1,717,100 | $107,964,379 | 0.69% | |
| AMD |
Advanced Micro Devices Inc
PUT
+ SHARES
Technology
|
Added | 499,000 | $101,511,570 | 0.65% | |
| WMB |
Williams Companies, Inc.
PUT
CALL
Energy
|
Added | 1,369,300 | $99,657,654 | 0.64% | |
| MRNA |
Moderna, Inc.
PUT
CALL
Healthcare
|
Added | 1,942,100 | $98,658,680 | 0.63% | |
| RCL |
Royal Caribbean Cruises Ltd
CALL
Consumer Cyclical
|
Held | 357,000 | $98,239,260 | 0.63% | |
| MP |
MP Materials Corp. / DE
PUT
CALL
+ SHARES
Basic Materials
|
Reduced | 2,005,160 | $96,769,021 | 0.62% | |
| MLYS |
Mineralys Therapeutics, Inc.
PUT
CALL
Healthcare
|
Added | 3,273,400 | $88,676,406 | 0.57% | |
| WULF |
Terawulf Inc.
PUT
CALL
Financial Services
|
Reduced | 5,620,800 | $81,108,144 | 0.52% | |
| WMT |
Walmart Inc.
PUT
+ SHARES
Consumer Defensive
|
Added | 635,000 | $78,917,800 | 0.50% | |
| ASTS |
AST SpaceMobile, Inc.
CALL
Technology
|
Reduced | 940,000 | $77,897,800 | 0.50% | |
| CVS |
CVS HEALTH Corp
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,083,500 | $77,816,970 | 0.50% | |
| XENE |
Xenon Pharmaceuticals Inc.
PUT
CALL
Healthcare
|
Added | 1,337,900 | $77,798,885 | 0.50% | |
| BURL |
Burlington Stores, Inc.
PUT
+ SHARES
Consumer Cyclical
|
Added | 236,160 | $76,841,740 | 0.49% | |
| OKE |
Oneok Inc /New/
CALL
+ SHARES
Energy
|
Reduced | 826,349 | $74,693,686 | 0.48% | |
| UBER |
Uber Technologies, Inc
PUT
CALL
+ SHARES
Technology
|
Added | 1,036,644 | $74,565,802 | 0.48% | |
| MDGL |
Madrigal Pharmaceuticals, Inc.
PUT
CALL
Healthcare
|
NEW | 140,000 | $73,285,800 | 0.47% | |
| GOOGL |
Alphabet Inc.
PUT
CALL
+ SHARES
Communication Services
|
Reduced | 254,800 | $73,270,288 | 0.47% | |
| CI |
Cigna Group
PUT
CALL
Healthcare
|
NEW | 273,000 | $72,822,750 | 0.47% | |
| COIN |
Coinbase Global, Inc.
CALL
+ SHARES
Financial Services
|
Added | 415,970 | $72,632,521 | 0.46% | |
| EXE |
EXPAND ENERGY Corp
PUT
CALL
Energy
|
Added | 651,200 | $71,488,736 | 0.46% | |
| VRT |
Vertiv Holdings Co
PUT
CALL
Industrials
|
Reduced | 280,200 | $70,212,516 | 0.45% | |
| DDOG |
Datadog, Inc.
PUT
CALL
+ SHARES
Technology
|
Added | 589,500 | $69,590,475 | 0.44% | |
| CELC |
Celcuity Inc.
CALL
Healthcare
|
Added | 600,000 | $68,484,000 | 0.44% | |
| VALE |
Vale S.A.
PUT
CALL
+ SHARES
Basic Materials
|
Reduced | 4,299,058 | $68,398,012 | 0.44% | |
| PRAX |
Praxis Precision Medicines, Inc.
PUT
CALL
Healthcare
|
Reduced | 209,000 | $67,337,710 | 0.43% | |
| TERN |
Terns Pharmaceuticals, Inc.
PUT
CALL
Healthcare
|
Added | 1,228,000 | $64,740,160 | 0.41% | |
| XOM |
ExxonMobil Holdings Corp
PUT
CALL
Energy
|
Reduced | 370,900 | $62,926,894 | 0.40% | |
| TEVA |
Teva Pharmaceutical Industries Ltd
PUT
CALL
+ SHARES
Healthcare
|
Added | 2,044,058 | $61,567,026 | 0.39% | |
| GXO |
GXO Logistics, Inc.
PUT
CALL
+ SHARES
Industrials
|
Added | 1,138,800 | $59,046,780 | 0.38% | |
| IMCR |
Immunocore Holdings plc
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,934,286 | $58,318,722 | 0.37% |