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Portfolio (Quarterly) Guide ↗

Caption Management, LLC

· CIK 0001706766
13F Portfolio $14.6B AUM 1,512 positions Filed Feb 17, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 578 New 387 Added 337 Reduced 673 Exited
Page 18 of 20  ·  387 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
341 NAK NORTHERN DYNASTY MINERALS LT Basic Materials 390,000.0 $768K 0.01% +340K +680.0% $1.97 +5.1%
342 AQST CALL AQUESTIVE THERAPEUTICS INC Healthcare 115,900.0 $749K 0.01% +66K +131.8% $6.46 -36.2%
343 BRSP PUT BRIGHTSPIRE CAPITAL INC Real Estate 125,000.0 $700K 0.01% +25K +25.0% $5.60 +1.3%
344 WYFI CALL WHITEFIBER INC Technology 42,500.0 $672K 0.01% +25K +142.9% $15.80 +91.1%
345 HAFN PUT HAFNIA LTD Industrials 125,000.0 $666K 0.01% +73K +140.4% $5.33 +60.2%
346 TRIP TRIPADVISOR INC Consumer Cyclical 45,641.0 $665K 0.01% +18K +65.4% $14.56 -30.8%
347 LEGN PUT LEGEND BIOTECH CORP Healthcare 30,000.0 $652K 0.00% +10K +50.0% $21.74 +35.1%
348 CHWY CHEWY INC Consumer Cyclical 19,200.0 $635K 0.00% +6K +41.2% $33.05 -37.3%
349 APYX APYX MEDICAL CORPORATION Healthcare 160,407.0 $561K 0.00% +36K +29.4% $3.50 +18.0%
350 ASTL PUT ALGOMA STL GROUP INC Basic Materials 135,000.0 $554K 0.00% +33K +32.1% $4.10 +15.4%
351 UNIT PUT UNITI GROUP LLC Real Estate 75,000.0 $526K 0.00% +23K +44.2% $7.01 +57.5%
352 AIRSHIP AI HLDGS INC 630,577.0 $504K 0.00% +298K +89.4% $0.80
353 DCH AMERICAN AXLE & MFG HLDGS IN Industrials 70,000.0 $449K 0.00% +44K +166.9% $6.41 -0.3%
354 ENGENE HOLDINGS INC 141,904.0 $420K 0.00% +135K +1886.3% $2.96
355 WTI W & T OFFSHORE INC Energy 242,379.0 $395K 0.00% +187K +337.6% $1.63 +171.8%
356 BCRX CALL BIOCRYST PHARMACEUTICALS INC Healthcare 50,000.0 $390K 0.00% +2K +3.7% $7.80 +6.3%
357 CRVS CORVUS PHARMACEUTICALS INC Healthcare 49,325.0 $380K 0.00% +27K +126.0% $7.70 +63.8%
358 DAVE INC 381,431.0 $374K 0.00% +80K +26.6% $0.98
359 DHC DIVERSIFIED HEALTHCARE TR Real Estate 74,663.0 $362K 0.00% +28K +59.6% $4.85 +80.4%
360 BLAIZE HLDGS INC 898,556.0 $359K 0.00% +420K +87.6% $0.40
Page 18 of 20  ·  387 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 33.0%
Consumer Cyclical 18.3%
Healthcare 14.6%
Communication Services 11.8%
Financial Services 7.3%
Energy 4.3%
Industrials 3.7%
Basic Materials 2.6%
Consumer Defensive 2.2%
Utilities 1.2%