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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
RARE icon
176
CALL
Ultragenyx Pharmaceutical
RARE
$2.65B
$16.2M 0.13%
537,500
-439,000
-45% -$13.2M
GH icon
177
CALL
Guardant Health
GH
$19.5B
$16.1M 0.13%
257,500
+117,500
+84% +$6.39M
WEC icon
178
PUT
WEC Energy
WEC
$37.7B
$16M 0.13%
140,000
+60,000
+75% +$6.5M
SRRK icon
179
PUT
Scholar Rock
SRRK
$5.71B
$15.9M 0.12%
428,200
+143,400
+50% +$5.02M
MRK icon
180
PUT
Merck
MRK
$324B
$15.8M 0.12%
188,600
+118,600
+169% +$9.77M
MP icon
181
PUT
MP Materials
MP
$7.35B
$15.8M 0.12%
235,500
+36,000
+18% +$2.26M
AGIO icon
182
PUT
Agios Pharmaceuticals
AGIO
$2.16B
$15.5M 0.12%
386,600
+224,200
+138% +$8.43M
MNDY icon
183
PUT
monday.com
MNDY
$3.27B
$15.5M 0.12%
+80,000
New +$18.4M
FSLR icon
184
CALL
First Solar
FSLR
$21.8B
$15.4M 0.12%
70,000
-1,042,100
-94% -$200M
KVUE icon
185
CALL
Kenvue
KVUE
$37B
$15.3M 0.12%
+943,500
New +$19.3M
COIN icon
186
Coinbase
COIN
$41.7B
$15.3M 0.12%
+45,200
New +$15.3M
GRPN icon
187
CALL
Groupon
GRPN
$980M
$15.1M 0.12%
648,100
-182,100
-22% -$5.24M
KLAC icon
188
PUT
KLA
KLAC
$275B
$15.1M 0.12%
+140,000
New +$13.1M
NEE icon
189
CALL
NextEra Energy
NEE
$187B
$15.1M 0.12%
200,000
-344,200
-63% -$25.1M
CVS icon
190
PUT
CVS Health
CVS
$137B
$15.1M 0.12%
200,000
-46,200
-19% -$3.17M
AVGO icon
191
Broadcom
AVGO
$1.82T
$15M 0.12%
45,500
+26,000
+133% +$7.98M
BP icon
192
CALL
BP
BP
$113B
$15M 0.12%
435,000
+335,000
+335% +$11.2M
RVMD icon
193
Revolution Medicines
RVMD
$40.2B
$14.7M 0.11%
+314,836
New +$12.3M
UBER icon
194
CALL
Uber
UBER
$134B
$14.7M 0.11%
150,000
– –
ABNB icon
195
CALL
Airbnb
ABNB
$83.7B
$14.6M 0.11%
120,000
-282,000
-70% -$36.5M
JPM icon
196
PUT
JPMorgan Chase
JPM
$939B
$14.5M 0.11%
+46,000
New +$13.7M
ASO icon
197
PUT
Academy Sports + Outdoors
ASO
$2.89B
$14.5M 0.11%
290,000
+252,900
+682% +$12.9M
BXP icon
198
CALL
Boston Properties
BXP
$11B
$14.1M 0.11%
+190,000
New +$13.4M
GDX icon
199
CALL
VanEck Gold Miners ETF
GDX
$23B
$13.9M 0.11%
182,500
+82,500
+83% +$4.97M
TVTX icon
200
CALL
Travere Therapeutics
TVTX
$5.33B
$13.8M 0.11%
575,400
+328,000
+133% +$6.17M
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 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.