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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 1 of 17  ·  337 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 CVNA CALL CARVANA CO Consumer Cyclical 646,800.0 $273.0M 1.87% -56K -8.0% $422.02 -83.8%
2 RDDT CALL REDDIT INC Communication Services 635,100.0 $146.0M 1.00% -83K -11.5% $229.87 -38.4%
3 CVNA PUT CARVANA CO Consumer Cyclical 335,400.0 $141.5M 0.97% -256K -43.3% $422.02 -83.8%
4 TSLA PUT TESLA INC Consumer Cyclical 300,000.0 $134.9M 0.93% -50K -14.3% $449.72 -5.3%
5 TSLA TESLA INC Consumer Cyclical 300,000.0 $134.9M 0.93% -50K -14.3% $449.72 -5.3%
6 INTU CALL INTUIT Technology 183,900.0 $121.8M 0.83% -46K -19.9% $662.42 -51.7%
7 RUN CALL SUNRUN INC Energy 6,203,700.0 $114.1M 0.78% -151K -2.4% $18.40 -20.5%
8 UTHR CALL UNITED THERAPEUTICS CORP DEL Healthcare 222,800.0 $108.6M 0.74% -31K -12.2% $487.25 +16.7%
9 UTHR PUT UNITED THERAPEUTICS CORP DEL Healthcare 159,800.0 $77.9M 0.53% -150K -48.4% $487.25 +16.7%
10 WULF CALL TERAWULF INC Financial Services 5,664,600.0 $65.1M 0.45% -219K -3.7% $11.49 +98.6%
11 IREN PUT IREN LIMITED Financial Services 1,270,700.0 $48.0M 0.33% -94K -6.9% $37.77 +50.5%
12 CM PUT CANADIAN IMPERIAL BANK OF CO Financial Services 496,400.0 $45.0M 0.31% -3K -0.6% $90.61 +27.5%
13 INSM CALL INSMED INC Healthcare 235,200.0 $40.9M 0.28% -142K -37.7% $174.04 -39.0%
14 INSM PUT INSMED INC Healthcare 234,200.0 $40.8M 0.28% -92K -28.2% $174.04 -39.0%
15 BSX PUT BOSTON SCIENTIFIC CORP Healthcare 415,800.0 $39.6M 0.27% -63K -13.1% $95.35 -39.4%
16 CORZ CALL CORE SCIENTIFIC INC NEW Technology 2,529,000.0 $36.8M 0.25% -2.2M -46.2% $14.56 +73.5%
17 CRWV PUT COREWEAVE INC Technology 463,600.0 $33.2M 0.23% -1.3M -73.2% $71.61 +47.3%
18 CSX CALL CSX CORP Industrials 757,200.0 $27.4M 0.19% -23K -2.9% $36.25 +25.6%
19 CALL HUT 8 CORP 552,700.0 $25.4M 0.17% -387K -41.2% $45.94
20 SOC PUT SABLE OFFSHORE CORP Energy 2,631,200.0 $23.7M 0.16% -506K -16.1% $9.02 +63.4%
Page 1 of 17  ·  337 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%