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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
SCHW
176
PUT
Charles Schwab
SCHW
$183B
$11.4M 0.13%
+125,000
New +$10.5M
V icon
177
Visa
V
$682B
$11.4M 0.13%
32,000
– –
CRSP icon
178
CALL
CRISPR Therapeutics
CRSP
$4.72B
$11.3M 0.13%
232,800
+89,200
+62% +$3.45M
WGS icon
179
CALL
GeneDx Holdings
WGS
$1.99B
$11.3M 0.12%
+122,000
New +$9.58M
SUNS
180
CALL
Sunrise Realty Trust
SUNS
$106M
$11.2M 0.12%
1,053,700
-90,600
-8% -$939K
LNTH icon
181
CALL
Lantheus
LNTH
$6.5B
$11.1M 0.12%
+136,000
New +$11.9M
VRTX icon
182
CALL
Vertex Pharmaceuticals
VRTX
$121B
$11.1M 0.12%
25,000
-5,000
-17% -$2.3M
BHVN icon
183
PUT
Biohaven
BHVN
$2.03B
$11M 0.12%
780,000
+755,000
+3,020% +$13.5M
HSIC icon
184
CALL
Henry Schein
HSIC
$9.8B
$11M 0.12%
+150,000
New +$10.3M
HSIC icon
185
PUT
Henry Schein
HSIC
$9.8B
$11M 0.12%
+150,000
New +$10.3M
PLNT icon
186
CALL
Planet Fitness
PLNT
$4.37B
$10.9M 0.12%
+100,000
New +$10M
DRI icon
187
PUT
Darden Restaurants
DRI
$23.4B
$10.9M 0.12%
50,000
– –
AEP icon
188
CALL
American Electric Power
AEP
$70B
$10.9M 0.12%
105,000
– –
ARKK icon
189
ARK Innovation ETF
ARKK
$5.65B
$10.9M 0.12%
154,700
-7,400
-5% -$408K
RVMD icon
190
CALL
Revolution Medicines
RVMD
$40.2B
$10.9M 0.12%
+295,200
New +$11.3M
MLTX icon
191
PUT
MoonLake Immunotherapeutics
MLTX
$1.58B
$10.8M 0.12%
228,700
+198,700
+662% +$8.09M
HOOD icon
192
PUT
Robinhood
HOOD
$78.4B
$10.8M 0.12%
+115,000
New +$6.81M
TFC icon
193
CALL
Truist Financial
TFC
$63.4B
$10.7M 0.12%
250,000
-120,000
-32% -$4.7M
CRDO icon
194
CALL
Credo Technology Group
CRDO
$39.5B
$10.7M 0.12%
+115,400
New +$6.73M
JANX icon
195
Janux Therapeutics
JANX
$927M
$10.6M 0.12%
457,012
+412,569
+928% +$10.9M
DLR icon
196
PUT
Digital Realty Trust
DLR
$70.5B
$10.4M 0.12%
59,800
-68,000
-53% -$11.1M
VRNA
197
PUT
DELISTED
Verona Pharma
VRNA
$10.4M 0.12%
+110,000
New +$8.14M
AFRM icon
198
CALL
Affirm
AFRM
$24.1B
$10.4M 0.11%
+150,000
New +$7.78M
BOOT icon
199
Boot Barn
BOOT
$4.56B
$10.3M 0.11%
68,000
+45,500
+202% +$6.04M
NKE icon
200
CALL
Nike
NKE
$61.8B
$10.3M 0.11%
145,000
+17,300
+14% +$1.04M
6 7
8
9 10

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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
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 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.