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Caption Management Portfolio holdings

AUM $21.5B
1-Year Est. Return 81.81%
This Fund
S&P 500
This Quarter Est. Return
+17.45%
1 Year Est. Return
+81.81%
3 Year Est. Return
+226.72%
5 Year Est. Return
+294.21%
10 Year Est. Return
–
AUM
$9.03B
AUM Growth
-$1.37B
Cap. Flow
-$1.22B
Cap. Flow %
-13.56%
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 Miscellaneous 88.58%
2 Healthcare 3.09%
3 Consumer Discretionary 2.5%
4 Technology 1.62%
5 Financials 1.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HE icon
276
CALL
Hawaiian Electric Industries
HE
$1.76B
$7.84M 0.09%
737,200
+120,000
+19% +$1.25M
IMMR icon
277
PUT
Immersion
IMMR
$237M
$7.82M 0.09%
992,500
-120,000
-11% -$892K
AL
278
CALL
DELISTED
Air Lease Corp
AL
$7.82M 0.09%
+133,700
New +$6.96M
RUN icon
279
PUT
Sunrun
RUN
$2.02B
$7.79M 0.09%
951,900
-299,700
-24% -$2.36M
ENPH icon
280
CALL
Enphase Energy
ENPH
$4.85B
$7.73M 0.09%
+195,000
New +$9.01M
TRTX
281
CALL
TPG RE Finance Trust
TRTX
$563M
$7.72M 0.09%
1,000,000
+450,000
+82% +$3.43M
PMT
282
CALL
PennyMac Mortgage Investment
PMT
$783M
$7.71M 0.09%
599,200
– –
EOSE icon
283
PUT
Eos Energy Enterprises
EOSE
$1.48B
$7.68M 0.09%
+1,500,100
New +$7.35M
NTRA icon
284
Natera
NTRA
$50.6B
$7.6M 0.08%
+45,000
New +$7.01M
IQV icon
285
PUT
IQVIA
IQV
$44.4B
$7.49M 0.08%
+47,500
New +$7.15M
AKRO
286
CALL
DELISTED
Akero Therapeutics
AKRO
$7.47M 0.08%
140,000
+88,000
+169% +$4M
PTGX icon
287
CALL
Protagonist Therapeutics
PTGX
$9.28B
$7.46M 0.08%
135,000
-153,600
-53% -$7.37M
CELH icon
288
Celsius Holdings
CELH
$6.99B
$7.42M 0.08%
160,000
+150,000
+1,500% +$5.78M
GEV icon
289
PUT
GE Vernova
GEV
$235B
$7.41M 0.08%
14,000
– –
EXEL icon
290
CALL
Exelixis
EXEL
$14.1B
$7.37M 0.08%
167,200
-104,200
-38% -$4.16M
REPL icon
291
CALL
Replimune Group
REPL
$1.23B
$7.36M 0.08%
792,400
+767,400
+3,070% +$6.7M
CPRT icon
292
PUT
Copart
CPRT
$28.7B
$7.36M 0.08%
+150,000
New +$8.39M
CORT icon
293
PUT
Corcept Therapeutics
CORT
$12B
$7.34M 0.08%
100,000
-513,300
-84% -$37.2M
NVT icon
294
CALL
nVent Electric
NVT
$23.8B
$7.33M 0.08%
+100,000
New +$6.14M
GH icon
295
CALL
Guardant Health
GH
$23.6B
$7.29M 0.08%
140,000
+80,000
+133% +$3.57M
XENE icon
296
CALL
Xenon Pharmaceuticals
XENE
$5.45B
$7.25M 0.08%
231,700
-25,000
-10% -$815K
ASTL icon
297
CALL
Algoma Steel
ASTL
$444M
$7.23M 0.08%
1,049,500
+971,400
+1,244% +$5.42M
SGRY icon
298
PUT
Surgery Partners
SGRY
$1.79B
$7.22M 0.08%
325,000
+243,100
+297% +$5.4M
SNDX icon
299
PUT
Syndax Pharmaceuticals
SNDX
$1.62B
$7.22M 0.08%
771,400
+521,400
+209% +$5.74M
CVI icon
300
CALL
CVR Energy
CVI
$5.24B
$7.19M 0.08%
+267,900
New +$5.9M
10 11
12
13 14

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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 $1.22B 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 Miscellaneous at 89% of assets, up from 79% a quarter earlier, followed by Healthcare and Consumer Discretionary.

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.