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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
+35.35%
1 Year Est. Return
+70.99%
3 Year Est. Return
+176.06%
5 Year Est. Return
+263.89%
10 Year Est. Return
–
AUM
$12.8B
AUM Growth
+$3.79B
Cap. Flow
+$2.28B
Cap. Flow %
17.8%
Top 10 Hldgs %
15.6%
Holding
2,120
New
741
Increased
362
Reduced
312
Closed
513

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$130M
2
NVDA icon
NVIDIA
NVDA
+$87.2M
3
SOC icon
Sable Offshore Corp
SOC
+$34.9M
4
CORZW icon
Core Scientific Inc Tranche 1 Warrants
CORZW
+$23.1M
5
VSAT icon
Viasat
VSAT
+$21.1M

Top Sells

Rank Stock Value
1
INSM icon
Insmed
INSM
+$25.8M
2
SKX
Skechers
SKX
+$20.1M
3
REGN icon
Regeneron Pharmaceuticals
REGN
+$17.6M
4
CDTX
Cidara Therapeutics
CDTX
+$15.2M
5
K
Kellanova
K
+$15M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 3.1%
2 Technology 2.68%
3 Healthcare 2.33%
4 Communication Services 1.06%
5 Financials 0.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STWD icon
1601
Starwood Property Trust
STWD
$6.18B
$2.29K ﹤0.01%
+118
New +$2.38K
NTLA icon
1602
Intellia Therapeutics
NTLA
$1.49B
$2.21K ﹤0.01%
128
-12,548
-99% -$155K
EVEX.WS icon
1603
Eve Holding Inc Warrants
EVEX.WS
$45.2M
$1.84K ﹤0.01%
+3,911
New +$2.59K
FLYW icon
1604
Flywire
FLYW
$2.03B
$1.63K ﹤0.01%
+120
New +$1.48K
SGML icon
1605
CALL
Sigma Lithium
SGML
$1.07B
$641 ﹤0.01%
+100
New +$601
ASTLW icon
1606
Algoma Steel Group Warrant
ASTLW
$123K
$533 ﹤0.01%
+3,475
New +$1K
VAL.WS icon
1607
Valaris Ltd Warrants
VAL.WS
$631M
$185 ﹤0.01%
66
– –
AAON icon
1608
Aaon
AAON
$7.81B
– –
-25,396
Closed -$2.08M
ABCL icon
1609
CALL
AbCellera Biologics
ABCL
$1.6B
– –
-40,000
Closed -$137K
ABM icon
1610
ABM Industries
ABM
$2.87B
– –
-78,511
Closed -$3.71M
ABR icon
1611
PUT
Arbor Realty Trust
ABR
$979M
– –
-190,000
Closed -$2.03M
ABUS icon
1612
Arbutus Biopharma
ABUS
$873M
– –
-41,866
Closed -$129K
ACAD icon
1613
Acadia Pharmaceuticals
ACAD
$4.43B
– –
-8,455
Closed -$200K
ACHC icon
1614
Acadia Healthcare
ACHC
$2.96B
– –
-46,200
Closed -$1.05M
ACHC icon
1615
PUT
Acadia Healthcare
ACHC
$2.96B
– –
-98,000
Closed -$2.22M
ACI icon
1616
PUT
Albertsons Companies
ACI
$5.66B
– –
-212,500
Closed -$4.57M
ACLX
1617
CALL
DELISTED
Arcellx
ACLX
– –
-133,600
Closed -$8.8M
ADI icon
1618
CALL
Analog Devices
ADI
$181B
– –
-30,000
Closed -$7.14M
ADT icon
1619
ADT
ADT
$5.34B
– –
-10,000
Closed -$85.8K
ADUS icon
1620
Addus HomeCare
ADUS
$2.22B
– –
-6,617
Closed -$762K
AEP icon
1621
CALL
American Electric Power
AEP
$73.1B
– –
-105,000
Closed -$10.9M
AER icon
1622
PUT
AerCap
AER
$24B
– –
-32,500
Closed -$3.8M
AFRM icon
1623
CALL
Affirm
AFRM
$24.4B
– –
-150,000
Closed -$10.4M
AFRM icon
1624
PUT
Affirm
AFRM
$24.4B
– –
-40,000
Closed -$2.77M
AGL icon
1625
Agilon Health
AGL
$1.63B
– –
-8,400
Closed -$483K
63 64
65
66 67

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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
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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 Q3 2025 Portfolio in Review

As of Q3 2025, Caption Management held 2,120 positions worth $12.8B, up 42% from $9.03B the previous quarter. Its ten largest holdings account for 16% of the portfolio.

Caption Management deployed $2.28B of net new capital in Q3 2025, opening 741 new positions and adding to 362 existing holdings. Its largest new stake was Amazon: 575,000 shares worth $126M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 3.1% of assets, up from 2.5% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was Insmed, an estimated $25.8M trimmed.

  • Caption Management's largest Q3 2025 buy was Amazon: 575,000 shares worth $126M.
  • Caption Management added most to Sable Offshore Corp in Q3 2025, an estimated $34.9M increase.
  • Caption Management's biggest Q3 2025 reduction was Insmed, cutting an estimated $25.8M.
  • Caption Management fully exited Skechers in Q3 2025, selling an estimated $20.1M.
  • Caption Management's ten largest holdings make up 16% of its $12.8B portfolio in Q3 2025.
  • Caption Management opened 741 new positions and closed 513 in Q3 2025.
  • Caption Management's portfolio value rose 42% quarter-over-quarter to $12.8B.

Based on Caption Management's 13F filing for Q3 2025, filed 14 Nov 2025.