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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
SYF icon
2026
Synchrony
SYF
$23.7B
– –
-30,000
Closed -$2M
T icon
2027
CALL
AT&T
T
$165B
– –
-300,000
Closed -$8.68M
T icon
2028
AT&T
T
$165B
– –
-41,600
Closed -$1.2M
T icon
2029
PUT
AT&T
T
$165B
– –
-480,000
Closed -$13.9M
TAL icon
2030
CALL
TAL Education Group
TAL
$5.71B
– –
-904,500
Closed -$9.24M
TALK icon
2031
Talkspace
TALK
$873M
– –
-43,711
Closed -$122K
TDS icon
2032
CALL
Telephone and Data Systems
TDS
$3.91B
– –
-30,000
Closed -$1.07M
TDS icon
2033
PUT
Telephone and Data Systems
TDS
$3.91B
– –
-20,600
Closed -$733K
TECK icon
2034
CALL
Teck Resources
TECK
$29.5B
– –
-100,000
Closed -$4.04M
TER icon
2035
Teradyne
TER
$54.8B
– –
-7,300
Closed -$656K
TER icon
2036
PUT
Teradyne
TER
$54.8B
– –
-100,000
Closed -$8.99M
TFC icon
2037
Truist Financial
TFC
$63.2B
– –
-17,500
Closed -$789K
TGB
2038
PUT
Trekor Metals
TGB
$2.56B
– –
-25,000
Closed -$78.8K
TGI
2039
CALL
DELISTED
Triumph Group
TGI
– –
-50,000
Closed -$1.29M
TGT icon
2040
PUT
Target
TGT
$62.1B
– –
-52,500
Closed -$5.18M
TIGR
2041
CALL
UP Fintech Holding
TIGR
$845M
– –
-80,000
Closed -$772K
TJX icon
2042
CALL
TJX Companies
TJX
$170B
– –
-65,000
Closed -$8.03M
TKO icon
2043
CALL
TKO Group
TKO
$13.5B
– –
-300,000
Closed -$54.6M
TKO icon
2044
PUT
TKO Group
TKO
$13.5B
– –
-109,600
Closed -$19.9M
TMC icon
2045
TMC The Metals Company
TMC
$1.59B
– –
-12,000
Closed -$72K
TREX icon
2046
CALL
Trex
TREX
$4.51B
– –
-60,000
Closed -$3.26M
TREX icon
2047
Trex
TREX
$4.51B
– –
-22,000
Closed -$1.2M
TRUP icon
2048
PUT
Trupanion
TRUP
$1.05B
– –
-55,000
Closed -$3.04M
TSCO icon
2049
PUT
Tractor Supply
TSCO
$16.3B
– –
-50,000
Closed -$2.64M
TSEM icon
2050
CALL
Tower Semiconductor
TSEM
$26.4B
– –
-140,400
Closed -$6.09M
80 81
82
83 84

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ASRS
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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.