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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 6 of 29  ·  578 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
101 CALL VIZSLA SILVER CORP 1,889,400.0 $10.3M 0.07% NEW $5.47
102 PVLA CALL PALVELLA THERAPEUTICS INC NE Healthcare 96,000.0 $10.0M 0.07% NEW $104.67 +8.9%
103 VALE VALE S A Basic Materials 770,000.0 $10.0M 0.07% NEW $13.03 +26.5%
104 PVLA PUT PALVELLA THERAPEUTICS INC NE Healthcare 95,300.0 $10.0M 0.07% NEW $104.67 +8.9%
105 ANAB CALL ANAPTYSBIO INC Healthcare 200,000.0 $9.7M 0.07% NEW $48.48 +23.2%
106 MCHP PUT MICROCHIP TECHNOLOGY INC. Technology 148,000.0 $9.4M 0.07% NEW $63.72 +46.6%
107 ADI ANALOG DEVICES INC Technology 34,000.0 $9.2M 0.06% NEW $271.20 +46.4%
108 LNG PUT CHENIERE ENERGY INC Energy 47,000.0 $9.1M 0.06% NEW $194.39 +23.9%
109 YPF CALL YPF SOCIEDAD ANONIMA Energy 250,000.0 $9.0M 0.06% NEW $36.16 +32.6%
110 SMH CALL VANECK ETF TRUST 25,000.0 $9.0M 0.06% NEW $360.13 +60.0%
111 IMTX CALL IMMATICS N.V Healthcare 850,000.0 $8.9M 0.06% NEW $10.50 +10.7%
112 WMB CALL WILLIAMS COS INC Energy 147,000.0 $8.8M 0.06% NEW $60.11 +30.5%
113 MKC PUT MCCORMICK & CO INC Consumer Defensive 125,000.0 $8.5M 0.06% NEW $68.11 -29.8%
114 MSM CALL MSC INDL DIRECT INC Industrials 97,500.0 $8.2M 0.06% NEW $84.10 +26.6%
115 MSM PUT MSC INDL DIRECT INC Industrials 97,500.0 $8.2M 0.06% NEW $84.10 +26.6%
116 AMGN CALL AMGEN INC Healthcare 25,000.0 $8.2M 0.06% NEW $327.31 +3.7%
117 OMER CALL OMEROS CORP Healthcare 475,700.0 $8.2M 0.06% NEW $17.18 -33.3%
118 NFLX CALL NETFLIX INC Communication Services 86,100.0 $8.1M 0.06% NEW $93.76 -5.5%
119 OR CALL OR ROYALTIES INC. Basic Materials 226,800.0 $8.0M 0.06% NEW $35.39 +0.6%
120 ESPR CALL ESPERION THERAPEUTICS INC NE Healthcare 2,142,500.0 $7.9M 0.05% NEW $3.70 -15.4%
Page 6 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%