13F value (AUM)
$21.5B
Caption Management
CAPTION MANAGEMENT, LLC
$21.5B
13F long value · 2026-Q2Positions1595
CategoryAsset Manager
Quarters tracked8
● #333 of 581 by 13F value
Size rank 5/10
14 NEW35 ADD60 2×+57 TRIM36 NEAR EXIT15 EXIT
Snapshot
Caption Management's 13F portfolio at a glance — size, concentration and this quarter's activity.
Positions
1595 (147 unmapped)
Top 100 weight
58.0%
Quarters tracked
8
Latest 13F filed
Aug 14, 2026
New positions
14
Exits / near-exits
51
13F value by quarter
Total reported long value each quarter — fund flows plus market moves.
Top holdings — 2026-Q2
The fund's largest reported positions (PUT/CALL rows are option positions, reported separately). The 100 shown cover 58.0% of the portfolio.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| META CALL | META PLATFORMS INC | 5.1% | $1.1B | 2.0M | — |
| WDC PUT | WESTERN DIGITAL CORP | 3.0% | $636.2M | 996.0K | — |
| NVDA | NVIDIA CORPORATION | 1.7% | $367.9M | 1.8M | +18.2% |
| AMZN CALL | AMAZON COM INC | 1.5% | $312.9M | 1.3M | — |
| WBD PUT | WARNER BROS DISCOVERY INC | 1.4% | $307.2M | 11.5M | — |
| NVDA PUT | NVIDIA CORPORATION | 1.4% | $296.1M | 1.5M | — |
| MSFT CALL | MICROSOFT CORP | 1.3% | $280.5M | 752.0K | — |
| TSM PUT | TAIWAN SEMICONDUCTOR MANUFAC | 1.3% | $278.4M | 583.0K | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1.3% | $270.2M | 565.7K | -15.2% |
| TTWO PUT | TAKE-TWO INTERACTIVE SOFTWAR | 1.2% | $260.7M | 1.0M | — |
| CVNA PUT | CARVANA CO | 1.2% | $249.9M | 3.8M | — |
| OWL PUT | BLUE OWL CAPITAL INC | 1.0% | $209.3M | 23.9M | — |
| UTHR PUT | UNITED THERAPEUTICS CORP DEL | 1.0% | $204.9M | 378.2K | — |
| UTHR CALL | UNITED THERAPEUTICS CORP DEL | 0.9% | $198.6M | 366.6K | — |
| CVNA CALL | CARVANA CO | 0.9% | $195.8M | 3.0M | — |
Option positions — 2026-Q2
$8.3B across 430 put positions vs $10.3B across 627 call positions — put/call ratio 0.81. Values are notional — the market value of the shares the options reference.
| Type | Ticker | Issuer | Underlying shares | Notional value | % of 13F value |
|---|---|---|---|---|---|
| CALL | META | META PLATFORMS INC | 2.0M | $1.1B | 5.1% |
| CALL | — | WEBULL CORP | 20.1M | $668.1M | 3.1% |
| PUT | WDC | WESTERN DIGITAL CORP | 996.0K | $636.2M | 3.0% |
| PUT | — | ZIM INTEGRATED SHIPPING SERV | 8.3M | $356.0M | 1.7% |
| CALL | AMZN | AMAZON COM INC | 1.3M | $312.9M | 1.5% |
| PUT | WBD | WARNER BROS DISCOVERY INC | 11.5M | $307.2M | 1.4% |
| PUT | NVDA | NVIDIA CORPORATION | 1.5M | $296.1M | 1.4% |
| CALL | MSFT | MICROSOFT CORP | 752.0K | $280.5M | 1.3% |
| PUT | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 583.0K | $278.4M | 1.3% |
| PUT | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | 1.0M | $260.7M | 1.2% |
Quarterly changes — 2026-Q2
What Caption Management opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| NEW | TSM | TAIWAN SEMICONDUCTOR MANUFAC | — | 565.7K | — | +$270.2M |
| 2×+ | MSFT | MICROSOFT CORP | 25.4K | 515.0K | +1931.6% | +$182.7M |
| 2×+ | GOOG | ALPHABET INC | 1.2K | 182.7K | +14551.2% | +$64.2M |
| 2×+ | XLF | SELECT SECTOR SPDR TR | 33.5K | 1.1M | +3329.1% | +$60.0M |
| ADD | TSLA | TESLA INC | 299.7K | 397.7K | +32.7% | +$55.9M |
| NEW | XLV | SELECT SECTOR SPDR TR | — | 338.5K | — | +$53.7M |
| NEAR EXIT | META | META PLATFORMS INC | 112.5K | 27.1K | -75.9% | -$49.1M |
| NEAR EXIT | UTHR | UNITED THERAPEUTICS CORP DEL | 74.4K | 9.3K | -87.5% | -$39.1M |
| NEW | KRE | SPDR SERIES TRUST | — | 394.9K | — | +$29.6M |
| TRIM | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | 261.1K | 102.3K | -60.8% | -$26.0M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.