Caption Management, LLC

OKLAHOMA CITY, OK · CIK 1706766 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2017 · limited liability company

Assets managed$3.4bn
Staff22 · 12 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $1.2bn gross assets
Websitecaptionpartners.com
Form ADV · 2026-03-24SEC adviser record

Legal entityCaption Management, LLC (US)

Kindhedge funds
Others nearbyOklahoma City, OK, New York, NY, Boca Raton, FL

As an employer

Offices in1 country
Private fundshedge 1

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Oklahoma City, OK (main office)United States	United States	about 3
New York, NYUnited States	United States	8
Boca Raton, FLUnited States	United States	1

US visa salary filings

Filings FY20251
Median salary offered$500,000
Middle half$500,000 – $500,000
Job titles1

Job title	Filings	Median	Range
Hedge Fund Research AnalystNew York, NY	1	$500,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: CAPTION MANAGEMENT, LLC.

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$2.8bn reported value +35.4% vs Q1 2026

538positions

52.3%in top 10

237 new 116 added 127 reduced 232 sold out vs Q1 2026

Options: 627 call positions ($10.3bn notional), 430 put positions ($8.3bn notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	1,838,800	$367.9m12.96%	12.96%	Added +331.1k	+331,100 22.0%
2	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	565,700	$270.2m9.51%	9.51%	New
3	MICROSOFT CORP COM MSFT	MSFT	515,000	$192.1m6.77%	6.77%	Added +489.6k	+489,650 1931.6%
4	TESLA INC COM TSLA	TSLA	397,700	$167.3m5.89%	5.89%	Added +98.0k	+98,000 32.7%
5	BLUE OWL CAPITAL INC COM CL A OWL	OWL	15,995,905	$140.0m4.93%	4.93%	Added +878.0k	+877,950 5.8%
6	AMAZON COM INC COM AMZN	AMZN	428,000	$102.0m3.59%	3.59%	Reduced -85.8k	-85,750 -16.7%
7	CORE SCIENTIFIC INC NEW *W EXP 01/23/202 CORZW	CORZW	3,487,150	$65.6m2.31%	2.31%	Unchanged
8	ALPHABET INC CAP STK CL C GOOG	GOOG	182,700	$64.6m2.27%	2.27%	Added +181.5k	+181,453 14551.2%
9	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	1,149,802	$61.6m2.17%	2.17%	Added +1.1m	+1,116,271 3329.1%
10	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	338,498	$53.7m1.89%	1.89%	New
11	SANDISK CORP COM SNDK	SNDK	17,100	$38.9m1.37%	1.37%	Reduced -1.2k	-1,180 -6.5%
12	CG ONCOLOGY INC COM CGON	CGON	484,461	$34.4m1.21%	1.21%	Added +106.0k	+105,981 28.0%
13	SPDR SER TR S&P REGL BKG KRE	KRE	394,944	$29.6m1.04%	1.04%	New
14	TAKE-TWO INTERACTIVE SOFTWAR COM TTWO	TTWO	102,300	$25.6m0.90%	0.90%	Reduced -158.8k	-158,843 -60.8%
15	INSMED INC COM PAR $.01 INSM	INSM	236,000	$25.2m0.89%	0.89%	New
16	SELECT SECTOR SPDR TR SBI MATERIALS XLB	XLB	485,000	$24.7m0.87%	0.87%	Added +190.6k	+190,574 64.7%
17	SPDR SER TR S&P HOMEBUILD XHB	XHB	166,554	$19.2m0.68%	0.68%	Added +159.1k	+159,054 2120.7%
18	ERASCA INC COM ERAS	ERAS	1,041,225	$19.1m0.67%	0.67%	New
19	CELCUITY INC COM CELC	CELC	170,000	$17.8m0.63%	0.63%	New
20	DESIGN THERAPEUTICS INC COM DSGN	DSGN	1,118,098	$16.2m0.57%	0.57%	Added +1.0m	+1,031,390 1189.5%
21	META PLATFORMS INC CL A META	META	27,100	$15.3m0.54%	0.54%	Reduced -85.4k	-85,400 -75.9%
22	JOHNSON & JOHNSON COM JNJ	JNJ	60,000	$15.2m0.54%	0.54%	Reduced -27.6k	-27,550 -31.5%
23	MONGODB INC CL A MDB	MDB	42,250	$14.2m0.50%	0.50%	New
24	VANECK ETF TRUST SEMICONDUCTR ETF SMH	SMH	21,220	$13.9m0.49%	0.49%	Reduced -3.6k	-3,600 -14.5%
25	ROSS STORES INC COM ROST	ROST	65,000	$13.8m0.49%	0.49%	New
26	BOSTON SCIENTIFIC CORP COM BSX	BSX	312,050	$13.3m0.47%	0.47%	Reduced -62.4k	-62,350 -16.6%
27	UNUM GROUP COM UNM	UNM	147,614	$13.2m0.46%	0.46%	Added +139.6k	+139,614 1745.2%
28	SYNOPSYS INC COM SNPS	SNPS	29,000	$12.9m0.46%	0.46%	Added +20.2k	+20,200 229.6%
29	DIGITALOCEAN HLDGS INC COM DOCN	DOCN	81,481	$12.8m0.45%	0.45%	Added +14.1k	+14,050 20.8%
30	CISCO SYS INC COM CSCO	CSCO	107,700	$12.7m0.45%	0.45%	Added +75.7k	+75,650 236.0%
31	GILEAD SCIENCES INC COM GILD	GILD	100,000	$12.6m0.44%	0.44%	New
32	DATADOG INC CL A COM DDOG	DDOG	46,700	$12.2m0.43%	0.43%	Added +21.7k	+21,700 86.8%
33	PRIMO BRANDS CORPORATION CLASS A COM SHS PRMB	PRMB	494,747	$12.1m0.43%	0.43%	Added +324.5k	+324,491 190.6%
34	BOEING CO COM BA	BA	53,200	$11.5m0.41%	0.41%	Added +34.3k	+34,300 181.5%
35	BANK AMERICA CORP COM BAC	BAC	200,000	$11.4m0.40%	0.40%	New
36	MINERALYS THERAPEUTICS INC COM MLYS	MLYS	413,087	$11.1m0.39%	0.39%	New
37	ELI LILLY & CO COM LLY	LLY	9,100	$10.9m0.38%	0.38%	New
38	GEO GROUP INC NEW COM GEO	GEO	368,635	$10.9m0.38%	0.38%	Added +316.9k	+316,936 613.0%
39	COMPASS DIVERSIFIED SH BEN INT CODI	CODI	1,010,000	$10.8m0.38%	0.38%	Added +561.7k	+561,685 125.3%
40	COMPASS PATHWAYS PLC SPONSORED ADS CMPS	CMPS	756,116	$10.7m0.38%	0.38%	Reduced -854.0k	-854,014 -53.0%
41	CIRCLE INTERNET GROUP INC COM CL A CRCL	CRCL	166,250	$10.4m0.37%	0.37%	New
42	IREN LIMITED ORDINARY SHARES IREN	IREN	227,459	$10.4m0.37%	0.37%	New
43	MORGAN STANLEY COM NEW MS	MS	49,400	$10.3m0.36%	0.36%	Added +38.4k	+38,400 349.1%
44	US BANCORP DEL COM NEW USB	USB	160,000	$9.7m0.34%	0.34%	Added +93.8k	+93,750 141.5%
45	SPDR SER TR S&P OILGAS EXP XOP	XOP	61,700	$9.5m0.34%	0.34%	New
46	TOPBUILD CORP COM BLD	BLD	26,650	$9.4m0.33%	0.33%	New
47	XPERI INC COMMON STOCK XPER	XPER	1,110,615	$9.1m0.32%	0.32%	Added +130.6k	+130,602 13.3%
48	MATCH GROUP INC NEW COM MTCH	MTCH	235,000	$8.9m0.31%	0.31%	Added +85.9k	+85,900 57.6%
49	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		258,331	$8.8m0.31%	0.31%	Reduced -21.7k	-21,727 -7.8%
50	REPLIMUNE GROUP INC COM REPL	REPL	783,873	$8.7m0.31%	0.31%	Added +332.1k	+332,051 73.5%
51	CHAMPION HOMES INC COM SKY	SKY	97,000	$8.5m0.30%	0.30%	New
52	AMPRIUS TECHNOLOGIES INC *W EXP 09/14/202 AMPX.WS	AMPX.WS	1,432,795	$8.4m0.30%	0.30%	Added +348.4k	+348,428 32.1%
53	CAESARS ENTERTAINMENT INC NE COM CZR	CZR	273,703	$8.3m0.29%	0.29%	Added +190.6k	+190,564 229.2%
54	SPDR SERIES TRUST S&P METALS MNG XME	XME	75,984	$8.1m0.29%	0.29%	Added +45.0k	+45,000 145.2%
55	ZOOM COMMUNICATIONS INC CL A ZM	ZM	91,910	$7.9m0.28%	0.28%	Added +21.5k	+21,510 30.6%
56	OKLO INC COM CL A OKLO	OKLO	150,540	$7.9m0.28%	0.28%	Added +149.6k	+149,640 16626.7%
57	ISHARES INC MSCI TAIWAN ETF EWT	EWT	71,500	$7.8m0.27%	0.27%	New
58	AMER SPORTS INC COM SHS AS	AS	226,800	$7.7m0.27%	0.27%	Added +160.3k	+160,300 241.1%
59	TARSUS PHARMACEUTICALS INC COM TARS	TARS	120,700	$7.6m0.27%	0.27%	Added +84.3k	+84,252 231.2%
60	GOLDMAN SACHS GROUP INC COM GS	GS	7,400	$7.5m0.26%	0.26%	Added +6.2k	+6,250 543.5%
61	PARAMOUNT SKYDANCE CORP COM CL B SKYD	SKYD	757,184	$7.5m0.26%	0.26%	Added +338.4k	+338,384 80.8%
62	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	215,000	$7.3m0.26%	0.26%	Added +132.6k	+132,580 160.9%
63	TAL EDUCATION GROUP SPONSORED ADS TAL	TAL	750,696	$7.2m0.25%	0.25%	New
64	ENERGY VAULT HOLDINGS INC COM NRGV	NRGV	1,524,600	$7.2m0.25%	0.25%	Added +1.5m	+1,489,600 4256.0%
65	QNITY ELECTRONICS INC COMMON STOCK Q	Q	43,500	$7.1m0.25%	0.25%	Reduced -26.5k	-26,500 -37.9%
66	MEDTRONIC PLC SHS MDT	MDT	90,000	$7.0m0.25%	0.25%	New
67	ASCENDIS PHARMA A/S ORD SHS ASND	ASND	25,500	$6.8m0.24%	0.24%	New
68	HUMANA INC COM HUM	HUM	16,800	$6.7m0.24%	0.24%	Reduced -3.2k	-3,160 -15.8%
69	ASTRAZENECA PLC ORD AZN	AZN	34,800	$6.6m0.23%	0.23%	New
70	PROCORE TECHNOLOGIES INC COM PCOR	PCOR	160,694	$6.5m0.23%	0.23%	New
71	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	24,500	$6.4m0.23%	0.23%	New
72	BROOKDALE SR LIVING INC COM BKD	BKD	390,385	$6.3m0.22%	0.22%	Added +101.9k	+101,885 35.3%
73	EQUINOX GOLD CORP COM EQX	EQX	610,466	$5.9m0.21%	0.21%	Added +427.2k	+427,166 233.0%
74	ON SEMICONDUCTOR CORP COM ON	ON	61,000	$5.8m0.20%	0.20%	Reduced -1.5k	-1,472 -2.4%
75	PROTAGONIST THERAPEUTICS INC COM PTGX	PTGX	45,000	$5.5m0.19%	0.19%	New
76	MASTEC INC COM MTZ	MTZ	13,200	$5.5m0.19%	0.19%	New
77	GENMAB A/S SPONSORED ADS GMAB	GMAB	199,774	$5.5m0.19%	0.19%	New
78	IMMUNOCORE HLDGS PLC ADS IMCR	IMCR	172,503	$5.5m0.19%	0.19%	Reduced -489.3k	-489,283 -73.9%
79	DOMINOS PIZZA INC COM DPZ	DPZ	18,371	$5.4m0.19%	0.19%	New
80	SELECT SECTOR SPDR TR ENERGY XLE	XLE	99,516	$5.3m0.19%	0.19%	Added +76.4k	+76,400 330.5%
81	RUSH STREET INTERACTIVE INC COM RSI	RSI	175,461	$5.2m0.18%	0.18%	New
82	PRECIGEN INC COM PGEN	PGEN	900,000	$5.1m0.18%	0.18%	Added +593.4k	+593,384 193.5%
83	ELECTRONIC ARTS INC COM EA	EA	24,882	$5.1m0.18%	0.18%	New
84	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	9,333	$5.1m0.18%	0.18%	Reduced -65.1k	-65,112 -87.5%
85	COINBASE GLOBAL INC COM CL A COIN	COIN	34,370	$5.0m0.18%	0.18%	Reduced -22.6k	-22,600 -39.7%
86	NEUROCRINE BIOSCIENCES INC COM NBIX	NBIX	29,500	$5.0m0.18%	0.18%	Added +20.6k	+20,600 231.5%
87	NOVO-NORDISK A S ADR NVO	NVO	103,132	$4.9m0.17%	0.17%	Added +42.5k	+42,532 70.2%
88	CARRIER GLOBAL CORPORATION COM CARR	CARR	66,600	$4.9m0.17%	0.17%	Reduced -13.4k	-13,400 -16.8%
89	NEXTRACKER INC CLASS A COM NXT	NXT	41,000	$4.9m0.17%	0.17%	New
90	FLOOR & DECOR HLDGS INC CL A FND	FND	82,004	$4.9m0.17%	0.17%	Reduced -202.1k	-202,128 -71.1%
91	REVOLUTION MEDICINES INC *W EXP 12/17/202 RVMDW	RVMDW	517,685	$4.9m0.17%	0.17%	Unchanged
92	CARLYLE GROUP INC COM CG	CG	114,031	$4.8m0.17%	0.17%	New
93	MGIC INVT CORP WIS COM MTG	MTG	168,511	$4.8m0.17%	0.17%	New
94	BURLINGTON STORES INC COM BURL	BURL	15,000	$4.8m0.17%	0.17%	Reduced -4.2k	-4,160 -21.7%
95	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	9,400	$4.7m0.16%	0.16%	Added +9.2k	+9,200 4600.0%
96	CBL & ASSOC PPTYS INC COMMON STOCK CBL	CBL	86,945	$4.6m0.16%	0.16%	Reduced -100.2k	-100,249 -53.5%
97	BIOGEN INC COM BIIB	BIIB	21,000	$4.5m0.16%	0.16%	New
98	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	38,675	$4.5m0.16%	0.16%	New
99	MKS INC. COM MKSI	MKSI	10,000	$4.4m0.16%	0.16%	Added +1.0k	+1,000 11.1%
100	NETFLIX INC COM NFLX	NFLX	61,100	$4.4m0.15%	0.15%	Reduced -151.0k	-151,000 -71.2%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
PLANET LABS PBC		1,511,285	$24.9m1.5m shares
GLOBAL X FDS BUG	BUG	854,400	$21.5m854.4k shares
CONSTELLATION ENERGY CORP CEG	CEG	71,923	$20.1m71.9k shares
CYTOKINETICS INC CYTK	CYTK	245,000	$16.1m245.0k shares
ENLIVEN THERAPEUTICS INC ELVN	ELVN	370,000	$14.5m370.0k shares
VISA INC V	V	46,650	$14.1m46.6k shares
SOLENO THERAPEUTICS INC SLNO	SLNO	420,143	$14.1m420.1k shares
GXO LOGISTICS INCORPORATED GXO	GXO	270,000	$14.0m270.0k shares
UNITEDHEALTH GROUP INC UNH	UNH	49,350	$13.4m49.4k shares
SELECT SECTOR SPDR TR XLK	XLK	85,000	$11.3m85.0k shares
CENTESSA PHARMACEUTICALS PLC		274,116	$10.9m274.1k shares
GUARDANT HEALTH INC GH	GH	115,183	$10.6m115.2k shares
PEPSICO INC PEP	PEP	68,500	$10.6m68.5k shares
CORCEPT THERAPEUTICS INC CORT	CORT	260,000	$10.5m260.0k shares
SIGNET JEWELERS LIMITED SIG	SIG	123,357	$10.4m123.4k shares
DELTA AIR LINES INC DEL DAL	DAL	142,800	$9.5m142.8k shares
DANAHER CORPORATION DHR	DHR	49,700	$9.4m49.7k shares
NEXTNAV INC		1,341,250	$8.5m1.3m shares
HARMONY BIOSCIENCES HLDGS IN HRMY	HRMY	272,292	$7.6m272.3k shares
ARM HOLDINGS PLC ARM	ARM	50,000	$7.6m50.0k shares
ABBVIE INC ABBV	ABBV	33,700	$7.3m33.7k shares
ISHARES SILVER TR SLV	SLV	107,506	$7.3m107.5k shares
AEROVIRONMENT INC AVAV	AVAV	37,844	$6.9m37.8k shares
COREWEAVE INC CRWV	CRWV	87,000	$6.7m87.0k shares
QIAGEN NV QGEN	QGEN	160,101	$6.4m160.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
META PLATFORMS INC META · Call	META	Call	1,957,500	$1.1bn2.0m shares	Reduced
WESTERN DIGITAL CORP WDC · Put	WDC	Put	996,000	$636.2m996.0k shares	Added
AMAZON COM INC AMZN · Call	AMZN	Call	1,313,000	$312.9m1.3m shares	Added
WARNER BROS DISCOVERY INC WBD · Put	WBD	Put	11,521,600	$307.2m11.5m shares	Reduced
NVIDIA CORPORATION NVDA · Put	NVDA	Put	1,480,000	$296.1m1.5m shares	Reduced
MICROSOFT CORP MSFT · Call	MSFT	Call	752,000	$280.5m752.0k shares	Added
TAIWAN SEMICONDUCTOR MFG LTD TSM · Put	TSM	Put	583,000	$278.4m583.0k shares	Added
TAKE-TWO INTERACTIVE SOFTWAR TTWO · Put	TTWO	Put	1,042,900	$260.7m1.0m shares	Added
CARVANA CO CVNA · Put	CVNA	Put	3,797,300	$249.9m3.8m shares	Reduced
BLUE OWL CAPITAL INC OWL · Put	OWL	Put	23,915,000	$209.3m23.9m shares	Added
UNITED THERAPEUTICS CORP DEL UTHR · Put	UTHR	Put	378,200	$204.9m378.2k shares	Reduced
UNITED THERAPEUTICS CORP DEL UTHR · Call	UTHR	Call	366,600	$198.6m366.6k shares	Reduced
CARVANA CO CVNA · Call	CVNA	Call	2,975,000	$195.8m3.0m shares	Added
MICROSOFT CORP MSFT · Put	MSFT	Put	500,000	$186.5m500.0k shares	Added
VANECK ETF TRUST SMH · Put	SMH	Put	265,000	$173.8m265.0k shares	New
GILEAD SCIENCES INC GILD · Call	GILD	Call	1,347,600	$170.3m1.3m shares	Added
TESLA INC TSLA · Put	TSLA	Put	400,000	$168.2m400.0k shares	Added
SPDR SER TR KRE · Put	KRE	Put	2,247,000	$168.2m2.2m shares	Added
LUMENTUM HLDGS INC LITE · Call	LITE	Call	175,000	$150.2m175.0k shares	Unchanged
ELECTRONIC ARTS INC EA · Put	EA	Put	700,000	$143.5m700.0k shares	Reduced
ROYAL CARIBBEAN GROUP RCL · Call	RCL	Call	417,500	$132.6m417.5k shares	Added
REVOLUTION MEDICINES INC RVMD · Call	RVMD	Call	677,800	$126.9m677.8k shares	Added
CG ONCOLOGY INC CGON · Call	CGON	Call	1,779,200	$126.4m1.8m shares	Added
TERAWULF INC WULF · Call	WULF	Call	4,938,500	$122.0m4.9m shares	Added
ALPHABET INC GOOG · Put	GOOG	Put	340,000	$120.1m340.0k shares	New