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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
NET icon
151
PUT
Cloudflare
NET
$93B
$19.3M 0.15%
90,000
-30,000
-25% -$6.12M
SQM icon
152
PUT
Sociedad Química y Minera de Chile
SQM
$19.6B
$19.2M 0.15%
+446,100
New +$18.6M
XRT icon
153
PUT
State Street SPDR S&P Retail ETF
XRT
$365M
$19M 0.15%
+221,000
New +$18.4M
NYT icon
154
PUT
New York Times
NYT
$11.6B
$18.9M 0.15%
328,800
-1,200
-0.4% -$68.5K
COST icon
155
CALL
Costco
COST
$415B
$18.5M 0.14%
+20,000
New +$19.2M
HUM icon
156
CALL
Humana
HUM
$46.7B
$18.3M 0.14%
70,500
+30,500
+76% +$8.02M
CLS icon
157
CALL
Celestica
CLS
$35.1B
$18.2M 0.14%
74,000
+50,000
+208% +$10.1M
GSAT icon
158
CALL
Globalstar
GSAT
$10.2B
$18.2M 0.14%
500,000
– –
JNJ icon
159
CALL
Johnson & Johnson
JNJ
$635B
$17.9M 0.14%
+96,600
New +$16.6M
KRYS icon
160
CALL
Krystal Biotech
KRYS
$9.88B
$17.7M 0.14%
100,000
-20,000
-17% -$2.99M
GH icon
161
PUT
Guardant Health
GH
$19.5B
$17.7M 0.14%
+282,500
New +$15.4M
NTGR icon
162
CALL
NETGEAR
NTGR
$669M
$17.4M 0.14%
537,600
+512,600
+2,050% +$14M
NN icon
163
CALL
NextNav
NN
$1.7B
$17.3M 0.14%
1,211,500
+407,800
+51% +$6.44M
UNH icon
164
CALL
UnitedHealth
UNH
$382B
$17.3M 0.13%
+50,000
New +$15.1M
NICE icon
165
CALL
Nice
NICE
$5.29B
$17.3M 0.13%
119,200
– –
XLB icon
166
CALL
State Street Materials Select Sector SPDR ETF
XLB
$8.51B
$17.2M 0.13%
+384,000
New +$17.4M
CSCO icon
167
PUT
Cisco
CSCO
$450B
$17.1M 0.13%
+250,000
New +$17M
WBD icon
168
PUT
Warner Bros
WBD
$64.6B
$17.1M 0.13%
+875,000
New +$11.9M
REGN icon
169
PUT
Regeneron Pharmaceuticals
REGN
$68.8B
$16.9M 0.13%
30,000
-30,000
-50% -$17M
IMCR icon
170
Immunocore
IMCR
$1.78B
$16.8M 0.13%
463,662
+284,159
+158% +$9.65M
MRVL icon
171
PUT
Marvell Technology
MRVL
$174B
$16.8M 0.13%
+200,000
New +$14.7M
LITE icon
172
CALL
Lumentum
LITE
$59.4B
$16.7M 0.13%
102,500
+50,000
+95% +$6.23M
UTHR icon
173
United Therapeutics
UTHR
$26.3B
$16.6M 0.13%
39,519
+21,319
+117% +$7.17M
CYTK icon
174
CALL
Cytokinetics
CYTK
$11B
$16.2M 0.13%
295,100
+222,400
+306% +$9.16M
CELC icon
175
CALL
Celcuity
CELC
$4.03B
$16.2M 0.13%
+327,700
New +$13.1M
5 6
7
8 9

Similar funds

ASRS
Arizona State Retirement System Phoenix, Arizona $17.1B AUM 30.52% 1-Year Est. Return
PP
Prudential plc London, England, United Kingdom $17.1B AUM 15.7% 1-Year Est. Return
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 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.