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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
METC icon
1901
Ramaco Resources Class A
METC
$664M
– –
-55,000
Closed -$1.28M
MGM icon
1902
MGM Resorts International
MGM
$11.8B
– –
-20,000
Closed -$734K
MGM icon
1903
PUT
MGM Resorts International
MGM
$11.8B
– –
-275,000
Closed -$9.46M
MNRO icon
1904
Monro
MNRO
$524M
– –
-51,116
Closed -$839K
MOD icon
1905
CALL
Modine Manufacturing
MOD
$12B
– –
-14,200
Closed -$1.4M
MOD icon
1906
Modine Manufacturing
MOD
$12B
– –
-2,700
Closed -$266K
MOS icon
1907
The Mosaic Company
MOS
$7.12B
– –
-18,000
Closed -$657K
MOS icon
1908
PUT
The Mosaic Company
MOS
$7.12B
– –
-100,000
Closed -$3.65M
MP icon
1909
MP Materials
MP
$7.51B
– –
-33,000
Closed -$2.08M
MQ icon
1910
Marqeta
MQ
$1.87B
– –
-70,000
Closed -$1.63M
MRUS
1911
DELISTED
Merus
MRUS
– –
-33,821
Closed -$2.2M
MUR icon
1912
Murphy Oil
MUR
$5.43B
– –
-3,500
Closed -$88.3K
NAMS icon
1913
NewAmsterdam Pharma
NAMS
$3.55B
– –
-6,000
Closed -$144K
NATL icon
1914
NCR Atleos
NATL
$3.49B
– –
-25,000
Closed -$713K
NATL icon
1915
PUT
NCR Atleos
NATL
$3.49B
– –
-100,000
Closed -$2.85M
NCLH icon
1916
CALL
Norwegian Cruise Line
NCLH
$8.95B
– –
-50,000
Closed -$1.01M
NCLH icon
1917
Norwegian Cruise Line
NCLH
$8.95B
– –
-12,300
Closed -$249K
NCLH icon
1918
PUT
Norwegian Cruise Line
NCLH
$8.95B
– –
-60,000
Closed -$1.22M
NFE icon
1919
CALL
New Fortress Energy
NFE
$97.4M
– –
-25,000
Closed -$83K
NFE icon
1920
New Fortress Energy
NFE
$97.4M
– –
-33,900
Closed -$113K
NFE icon
1921
PUT
New Fortress Energy
NFE
$97.4M
– –
-243,700
Closed -$809K
NKTR icon
1922
Nektar Therapeutics
NKTR
$2.36B
– –
-2,776
Closed -$91.9K
NLR icon
1923
PUT
VanEck Uranium + Nuclear Energy ETF
NLR
$3.89B
– –
-73,300
Closed -$8.15M
NN icon
1924
NextNav
NN
$1.69B
– –
-135,478
Closed -$2.14M
NOVA
1925
CALL
DELISTED
Sunnova Energy
NOVA
– –
-244,400
Closed -$147
75 76
77
78 79

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.