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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
RDFN
1976
PUT
DELISTED
Redfin
RDFN
– –
-30,000
Closed -$336K
RDUS
1977
CALL
DELISTED
Radius Recycling
RDUS
– –
-70,000
Closed -$2.08M
REGN icon
1978
Regeneron Pharmaceuticals
REGN
$68.8B
– –
-31,200
Closed -$17.6M
REPL icon
1979
PUT
Replimune Group
REPL
$814M
– –
-445,600
Closed -$4.14M
RGA icon
1980
CALL
Reinsurance Group of America
RGA
$15.7B
– –
-30,000
Closed -$5.95M
RH icon
1981
CALL
RH
RH
$3.3B
– –
-50,000
Closed -$9.45M
RITM icon
1982
CALL
Rithm Capital
RITM
$5.09B
– –
-202,500
Closed -$2.29M
RNW icon
1983
CALL
ReNew
RNW
$2.24B
– –
-90,000
Closed -$622K
RNW icon
1984
ReNew
RNW
$2.24B
– –
-56,271
Closed -$389K
ROIV icon
1985
Roivant Sciences
ROIV
$25.2B
– –
-256,661
Closed -$3.18M
RPD icon
1986
Rapid7
RPD
$634M
– –
-42,000
Closed -$971K
RPRX icon
1987
CALL
Royalty Pharma
RPRX
$26.1B
– –
-98,600
Closed -$3.55M
RRR icon
1988
Red Rock Resorts
RRR
$3.74B
– –
-13,400
Closed -$697K
RRR icon
1989
PUT
Red Rock Resorts
RRR
$3.74B
– –
-32,100
Closed -$1.67M
RSKD icon
1990
PUT
Riskified
RSKD
$672M
– –
-100,000
Closed -$499K
RUM icon
1991
RUM Group Inc
RUM
$1.57B
– –
-50,000
Closed -$449K
RXRX icon
1992
Recursion Pharmaceuticals
RXRX
$1.57B
– –
-420,801
Closed -$2.21M
RYTM icon
1993
Rhythm Pharmaceuticals
RYTM
$7B
– –
-7,540
Closed -$700K
SAGE
1994
CALL
DELISTED
Sage Therapeutics
SAGE
– –
-25,000
Closed -$228K
SAGE
1995
PUT
DELISTED
Sage Therapeutics
SAGE
– –
-25,000
Closed -$228K
SAN icon
1996
CALL
Banco Santander
SAN
$194B
– –
-49,500
Closed -$411K
SAN icon
1997
Banco Santander
SAN
$194B
– –
-144,000
Closed -$1.2M
SAND
1998
CALL
DELISTED
Sandstorm Gold
SAND
– –
-354,800
Closed -$3.34M
SCHW
1999
CALL
Charles Schwab
SCHW
$177B
– –
-400,000
Closed -$36.5M
SCHW
2000
Charles Schwab
SCHW
$177B
– –
-40,000
Closed -$3.65M
78 79
80
81 82

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.