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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
INVZ icon
1676
Innoviz Technologies
INVZ
$95M
– –
-33,624
Closed -$29.4K
IOT icon
1677
CALL
Samsara
IOT
$21.7B
– –
-50,000
Closed -$1.92M
IP icon
1678
International Paper
IP
$21.6B
– –
-32,500
Closed -$1.73M
IPG
1679
DELISTED
Interpublic Group of Companies
IPG
– –
-10,100
Closed -$274K
ITOS
1680
PUT
DELISTED
iTeos Therapeutics
ITOS
– –
-518,400
Closed -$3.09M
ITRI icon
1681
CALL
Itron
ITRI
$4.36B
– –
-4,000
Closed -$419K
JANX icon
1682
CALL
Janux Therapeutics
JANX
$925M
– –
-28,700
Closed -$775K
JNJ icon
1683
CALL
Johnson & Johnson
JNJ
$618B
– –
-23,000
Closed -$3.81M
JWN
1684
PUT
DELISTED
Nordstrom
JWN
– –
-50,000
Closed -$1.22M
KALV
1685
CALL
DELISTED
KalVista Pharmaceuticals
KALV
– –
-450,000
Closed -$5.19M
KD icon
1686
CALL
Kyndryl
KD
$2.99B
– –
-48,000
Closed -$1.51M
KEYS icon
1687
CALL
Keysight
KEYS
$54.5B
– –
-18,400
Closed -$2.76M
KEYS icon
1688
Keysight
KEYS
$54.5B
– –
-4,778
Closed -$716K
KKR icon
1689
PUT
KKR & Co
KKR
$91.1B
– –
-22,500
Closed -$2.6M
KO icon
1690
CALL
Coca-Cola
KO
$377B
– –
-100,000
Closed -$7.16M
KO icon
1691
PUT
Coca-Cola
KO
$377B
– –
-30,000
Closed -$2.15M
KOPN icon
1692
PUT
Kopin
KOPN
$652M
– –
-100,000
Closed -$93.2K
KOS icon
1693
CALL
Kosmos Energy
KOS
$1.6B
– –
-2,000,000
Closed -$4.56M
KROS icon
1694
CALL
Keros Therapeutics
KROS
$199M
– –
-30,000
Closed -$306K
KROS icon
1695
PUT
Keros Therapeutics
KROS
$199M
– –
-392,900
Closed -$4M
KTOS icon
1696
CALL
Kratos Defense & Security Solutions
KTOS
$8.74B
– –
-250,000
Closed -$7.42M
KULR icon
1697
CALL
KULR Technology Group
KULR
$123M
– –
-25,000
Closed -$264K
KULR icon
1698
KULR Technology Group
KULR
$123M
– –
-5,005
Closed -$52.9K
HAPN
1699
CALL
Happen Inc
HAPN
$2.21B
– –
-175,000
Closed -$1.81M
LFST icon
1700
Lifestance Health
LFST
$4B
– –
-15,000
Closed -$99.9K
66 67
68
69 70

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VMPIC
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BCIM
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BBA
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Macquarie Group
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FCM
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AIMCA
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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 $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.