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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 22 of 29  ·  578 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
421 ZURA BIO LTD 155,936.0 $817K 0.01% NEW $5.24
422 CRVS PUT CORVUS PHARMACEUTICALS INC Healthcare 105,900.0 $815K 0.01% NEW $7.70 +63.8%
423 ZBIO PUT ZENAS BIOPHARMA INC Healthcare 22,000.0 $799K 0.01% NEW $36.31 -45.4%
424 POWL POWELL INDS INC Industrials 2,500.0 $797K 0.01% NEW $318.78 -12.4%
425 BTG CALL B2GOLD CORP Basic Materials 175,000.0 $789K 0.01% NEW $4.51 +1.6%
426 JAMES HARDIE INDS PLC 38,000.0 $788K 0.01% NEW $20.75
427 OPENDOOR TECHNOLOGIES INC 1,941,413.0 $775K 0.01% NEW $0.40
428 CALL VERASTEM INC 100,000.0 $772K 0.01% NEW $7.72
429 PUT ABEONA THERAPEUTICS INC 142,500.0 $751K 0.01% NEW $5.27
430 BCAX PUT BICARA THERAPEUTICS INC Healthcare 44,600.0 $751K 0.01% NEW $16.83 +28.8%
431 CPRI CAPRI HOLDINGS LIMITED Consumer Cyclical 30,599.0 $747K 0.01% NEW $24.40 -24.3%
432 TGEN CALL TECOGEN INC NEW Industrials 150,000.0 $741K 0.01% NEW $4.94 +16.2%
433 RGLD ROYAL GOLD INC Basic Materials 3,302.0 $734K 0.01% NEW $222.29 -0.9%
434 OLED UNIVERSAL DISPLAY CORP Technology 6,200.0 $724K 0.01% NEW $116.78 -19.2%
435 PUT SIX FLAGS ENTERTAINMENT CORP 46,900.0 $719K 0.01% NEW $15.34
436 NTSK CALL NETSKOPE INC Technology 40,900.0 $717K 0.01% NEW $17.54 -33.0%
437 XRX CALL XEROX HOLDINGS CORP Technology 300,000.0 $711K 0.01% NEW $2.37 +5.5%
438 TDOC CALL TELADOC HEALTH INC Healthcare 100,000.0 $700K 0.01% NEW $7.00 -6.1%
439 HLF CALL HERBALIFE LTD Consumer Defensive 53,700.0 $692K 0.01% NEW $12.89 -3.6%
440 SLM PUT SLM CORP Financial Services 25,000.0 $676K 0.01% NEW $27.06 -18.1%
Page 22 of 29  ·  578 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%