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Caption Management Portfolio holdings

AUM $17.1B
1-Year Est. Return 70.99%
This Fund
S&P 500
This Quarter Est. Return
+17.45%
1 Year Est. Return
+70.99%
3 Year Est. Return
+176.06%
5 Year Est. Return
+263.89%
10 Year Est. Return
–
AUM
$9.03B
AUM Growth
-$1.37B
Cap. Flow
-$2.48B
Cap. Flow %
-27.43%
Top 10 Hldgs %
18.31%
Holding
2,015
New
576
Increased
314
Reduced
307
Closed
636

Top Buys

Rank Stock Value
1
SKX
Skechers
SKX
+$18.3M
2
REGN icon
Regeneron Pharmaceuticals
REGN
+$17.4M
3
INSM icon
Insmed
INSM
+$16.1M
4
GILD icon
Gilead Sciences
GILD
+$15.8M
5
K
Kellanova
K
+$15.3M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$394M
2
AMZN icon
Amazon
AMZN
+$314M
3
NVDA icon
NVIDIA
NVDA
+$255M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$121M
5
AMD icon
Advanced Micro Devices
AMD
+$61.6M

Sector Composition

Rank Sector Weight
1 Healthcare 3.09%
2 Consumer Discretionary 2.5%
3 Technology 1.62%
4 Financials 1.05%
5 Communication Services 0.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TBCH
251
PUT
Turtle Beach Corp
TBCH
$243M
$8.61M 0.1%
622,500
+472,500
+315% +$5.64M
KR icon
252
CALL
Kroger
KR
$35.4B
$8.61M 0.1%
120,000
– –
OSCR icon
253
PUT
Oscar Health
OSCR
$9.41B
$8.59M 0.1%
400,500
-495,400
-55% -$7.36M
LKFT
254
PUT
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.78B
$8.56M 0.09%
+305,800
New +$8.2M
NICE icon
255
Nice
NICE
$5.79B
$8.52M 0.09%
+50,416
New +$8.12M
BABA icon
256
CALL
Alibaba
BABA
$293B
$8.51M 0.09%
75,000
-424,900
-85% -$50.3M
SOC icon
257
CALL
Sable Offshore Corp
SOC
$1.01B
$8.5M 0.09%
386,800
+32,600
+9% +$758K
HIMS icon
258
PUT
Hims & Hers Health
HIMS
$6.43B
$8.47M 0.09%
170,000
– –
MA icon
259
CALL
Mastercard
MA
$506B
$8.43M 0.09%
15,000
-35,000
-70% -$19.4M
EIX icon
260
CALL
Edison International
EIX
$28.2B
$8.39M 0.09%
162,600
+82,600
+103% +$4.53M
HPE icon
261
CALL
Hewlett Packard
HPE
$63.4B
$8.34M 0.09%
408,000
+308,000
+308% +$5.16M
WEC icon
262
PUT
WEC Energy
WEC
$35.7B
$8.34M 0.09%
+80,000
New +$8.51M
LNTH icon
263
PUT
Lantheus
LNTH
$6.49B
$8.19M 0.09%
+100,000
New +$8.78M
NLR icon
264
PUT
VanEck Uranium + Nuclear Energy ETF
NLR
$3.82B
$8.15M 0.09%
+73,300
New +$6.52M
CORZW icon
265
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.38B
$8.15M 0.09%
751,544
+251,544
+50% +$1.25M
SLNO
266
CALL
DELISTED
Soleno Therapeutics
SLNO
$8.14M 0.09%
97,100
-530,900
-85% -$39.7M
XLP icon
267
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.2B
$8.1M 0.09%
100,000
-14,200
-12% -$1.15M
TJX icon
268
CALL
TJX Companies
TJX
$174B
$8.03M 0.09%
+65,000
New +$8.25M
LKFT
269
CALL
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.78B
$7.99M 0.09%
285,300
+186,200
+188% +$4.99M
CP icon
270
CALL
Canadian Pacific Kansas City
CP
$78.1B
$7.93M 0.09%
100,000
– –
AGI icon
271
CALL
Alamos Gold
AGI
$11.6B
$7.91M 0.09%
297,800
-418,200
-58% -$11.2M
PTGX icon
272
PUT
Protagonist Therapeutics
PTGX
$8.79B
$7.9M 0.09%
143,000
-50,900
-26% -$2.44M
RYTM icon
273
PUT
Rhythm Pharmaceuticals
RYTM
$6.81B
$7.9M 0.09%
+125,000
New +$7.65M
LDOS icon
274
CALL
Leidos
LDOS
$14.5B
$7.89M 0.09%
50,000
– –
CELH icon
275
PUT
Celsius Holdings
CELH
$7.47B
$7.89M 0.09%
170,000
-250,000
-60% -$9.63M
9 10
11
12 13

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ASRS
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PP
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VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return
BBA
Baker Bros. Advisors New York $17.4B AUM 131.5% 1-Year Est. Return
Macquarie Group
Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return
FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return
AIMCA
Alberta Investment Management Corp (AIMCo) Edmonton, Alberta, Canada $16.7B AUM 23.27% 1-Year Est. Return

Caption Management's Q2 2025 Portfolio in Review

As of Q2 2025, Caption Management held 2,015 positions worth $9.03B, down 13% from $10.4B the previous quarter. Its ten largest holdings account for 18% of the portfolio.

Caption Management withdrew a net $2.48B in Q2 2025, closing 636 positions and reducing 307 holdings. Its most notable exit was Microsoft, an estimated $394M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 3.1% of assets, up from 1.5% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Caption Management opened a new position in Skechers worth $20.1M.

  • Caption Management's largest Q2 2025 buy was Skechers: 317,932 shares worth $20.1M.
  • Caption Management added most to Kellanova in Q2 2025, an estimated $15.3M increase.
  • Caption Management's biggest Q2 2025 reduction was Alphabet (Google) Class A, cutting an estimated $121M.
  • Caption Management fully exited Microsoft in Q2 2025, selling an estimated $394M.
  • Caption Management's ten largest holdings make up 18% of its $9.03B portfolio in Q2 2025.
  • Caption Management opened 576 new positions and closed 636 in Q2 2025.
  • Caption Management's portfolio value fell 13% quarter-over-quarter to $9.03B.

Based on Caption Management's 13F filing for Q2 2025, filed 14 Aug 2025.