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 14 of 34 · 673 positions

#	Ticker	Company	Sector	Shares	Value ↓	% Port	Status
261	SG PUT	SWEETGREEN INC	Consumer Cyclical	326,800	$2.6M	0.02%	SOLD
262	ENVX PUT	ENOVIX CORPORATION	Industrials	260,000	$2.6M	0.02%	SOLD
263	FFIV	F5 INC	Technology	8,000	$2.6M	0.02%	SOLD
264	ARGX PUT	ARGENX SE	Healthcare	3,500	$2.6M	0.02%	SOLD
265	RVMD PUT	REVOLUTION MEDICINES INC	Healthcare	54,800	$2.6M	0.02%	SOLD
266	PAA CALL	PLAINS ALL AMERN PIPELINE L	Energy	150,000	$2.6M	0.02%	SOLD
267	LUMN CALL	LUMEN TECHNOLOGIES INC	Communication Services	415,000	$2.5M	0.02%	SOLD
268	COGT	COGENT BIOSCIENCES INC	Healthcare	176,064	$2.5M	0.02%	SOLD
269	LEN CALL	LENNAR CORP	Consumer Cyclical	20,000	$2.5M	0.02%	SOLD
270	HRTX PUT	HERON THERAPEUTICS INC	Healthcare	2,000,000	$2.5M	0.02%	SOLD
271	ACHR CALL	ARCHER AVIATION INC	Industrials	262,900	$2.5M	0.02%	SOLD
272	KGC	KINROSS GOLD CORP	Basic Materials	100,000	$2.5M	0.02%	SOLD
273	RIO	RIO TINTO PLC	Basic Materials	37,229	$2.5M	0.02%	SOLD
274	PRGO	PERRIGO CO PLC	Healthcare	110,000	$2.4M	0.02%	SOLD
275	TTD	THE TRADE DESK INC	Technology	49,550	$2.4M	0.02%	SOLD
276	— CALL	SURMODICS INC	—	80,000	$2.4M	0.02%	SOLD
277	CAMT	CAMTEK LTD	Technology	22,698	$2.4M	0.02%	SOLD
278	BX	BLACKSTONE INC	Financial Services	13,900	$2.4M	0.02%	SOLD
279	NTRS CALL	NORTHERN TR CORP	Financial Services	17,500	$2.4M	0.02%	SOLD
280	IMCR CALL	IMMUNOCORE HLDGS PLC	Healthcare	64,400	$2.3M	0.02%	SOLD

Page 14 of 34 · 673 positions

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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%