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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
FLG
2001
Flagstar Bank National Association
FLG
$5.94B
– –
-60,000
Closed -$685K
MAGN
2002
Magnera Corp
MAGN
$475M
– –
-34,156
Closed -$470K
XIFR
2003
CALL
XPLR Infrastructure LP
XIFR
$1.12B
– –
-490,000
Closed -$4.66M
SNDK
2004
Sandisk
SNDK
$190B
– –
-16,865
Closed -$645K
BECN
2005
CALL
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-319,900
Closed -$39.6M
BECN
2006
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-4,925
Closed -$609K
BECN
2007
PUT
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-110,000
Closed -$13.6M
MKFG
2008
PUT
DELISTED
Markforged Holding Corporation
MKFG
– –
-200
Closed -$936
ML.WS
2009
DELISTED
MoneyLion Inc. Warrants, each whole warrant exercisable 1/30th of a share of Class A common stock at an exercise price of $345.00 per whole share
ML.WS
– –
-15,476
Closed -$4.1K
ITCI
2010
CALL
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-245,000
Closed -$32.3M
ITCI
2011
PUT
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-100,200
Closed -$13.2M
DM
2012
DELISTED
Desktop Metal, Inc.
DM
– –
-103,110
Closed -$506K
DM
2013
PUT
DELISTED
Desktop Metal, Inc.
DM
– –
-250,100
Closed -$1.23M
ML
2014
DELISTED
MoneyLion Inc.
ML
– –
-38,936
Closed -$3.37M
ML
2015
PUT
DELISTED
MoneyLion Inc.
ML
– –
-22,500
Closed -$1.95M
77 78 79 80
81

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VMPIC
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BCIM
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BBA
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Macquarie Group
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FCM
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AIMCA
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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.