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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
NOVA
1926
DELISTED
Sunnova Energy
NOVA
– –
-137,000
Closed -$82
NOVA
1927
PUT
DELISTED
Sunnova Energy
NOVA
– –
-180,800
Closed -$108
NTNX icon
1928
CALL
Nutanix
NTNX
$15.5B
– –
-24,800
Closed -$1.9M
NTNX icon
1929
PUT
Nutanix
NTNX
$15.5B
– –
-18,000
Closed -$1.38M
NTRA icon
1930
Natera
NTRA
$37.2B
– –
-45,000
Closed -$7.6M
NTRS icon
1931
PUT
Northern Trust
NTRS
$22.3B
– –
-205,000
Closed -$26M
NU icon
1932
Nu Holdings
NU
$70B
– –
-32,900
Closed -$459K
NUGT icon
1933
Direxion Daily Gold Miners Index Bull 2X ETF
NUGT
$895M
– –
-600
Closed -$44.6K
NUS icon
1934
Nu Skin
NUS
$250M
– –
-97,375
Closed -$778K
NUVL
1935
DELISTED
Nuvalent
NUVL
– –
-6,438
Closed -$491K
NUVL
1936
PUT
DELISTED
Nuvalent
NUVL
– –
-74,000
Closed -$5.65M
NVAX icon
1937
PUT
Novavax
NVAX
$1.27B
– –
-100,000
Closed -$630K
NVO
1938
CALL
Novo Nordisk
NVO
$219B
– –
-80,000
Closed -$5.52M
NVTS icon
1939
PUT
Navitas Semiconductor
NVTS
$2.76B
– –
-100,000
Closed -$655K
NWPX icon
1940
NWPX Infrastructure Inc
NWPX
$1.21B
– –
-5,663
Closed -$232K
NWPX icon
1941
PUT
NWPX Infrastructure Inc
NWPX
$1.21B
– –
-40,000
Closed -$1.64M
NXT icon
1942
Nextpower Inc
NXT
$15.4B
– –
-31,425
Closed -$2.02M
TEAD
1943
PUT
Teads Holding Co
TEAD
$77.4M
– –
-44,900
Closed -$111K
OI icon
1944
CALL
O-I Glass
OI
$1.43B
– –
-12,700
Closed -$187K
OR icon
1945
CALL
OR Royalties Inc
OR
$5.58B
– –
-20,000
Closed -$514K
ORIC icon
1946
CALL
Oric Pharmaceuticals
ORIC
$1.29B
– –
-996,200
Closed -$10.1M
OTIS icon
1947
Otis Worldwide
OTIS
$28B
– –
-5,500
Closed -$499K
OZK icon
1948
CALL
Bank OZK
OZK
$5.53B
– –
-13,900
Closed -$654K
PANW icon
1949
PUT
Palo Alto Networks
PANW
$263B
– –
-138,800
Closed -$28.4M
PARA
1950
CALL
DELISTED
Paramount Global Class B
PARA
– –
-519,700
Closed -$6.7M
76 77
78
79 80

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.