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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 7 of 17  ·  337 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
121 ACLX PUT ARCELLX INC Healthcare 50,000.0 $3.3M 0.02% -10K -16.7% $65.20 +76.5%
122 SLV CALL ISHARES SILVER TR Financial Services 50,000.0 $3.2M 0.02% -250K -83.3% $64.42 +6.1%
123 CALL AIR LEASE CORP 50,000.0 $3.2M 0.02% -25K -33.3% $64.23
124 EXEL CALL EXELIXIS INC Healthcare 73,000.0 $3.2M 0.02% -124K -63.0% $43.83 +14.4%
125 EXEL PUT EXELIXIS INC Healthcare 73,000.0 $3.2M 0.02% -223K -75.3% $43.83 +14.4%
126 AA PUT ALCOA CORP Basic Materials 60,000.0 $3.2M 0.02% -25K -29.4% $53.14 +34.3%
127 NKTR PUT NEKTAR THERAPEUTICS Healthcare 75,000.0 $3.2M 0.02% -2K -3.2% $42.28 +57.5%
128 WOLF CALL WOLFSPEED INC Technology 180,000.0 $3.1M 0.02% -100K -35.7% $17.41 +301.4%
129 CMTG CALL CLAROS MTG TR INC Real Estate 1,000,000.0 $3.1M 0.02% -32K -3.0% $3.06 -29.7%
130 BXP PUT BXP INC Real Estate 45,000.0 $3.0M 0.02% -549K -92.4% $67.48 -10.7%
131 ARKK CALL ARK ETF TR 39,100.0 $3.0M 0.02% -36K -47.6% $76.92 -0.7%
132 BP BP PLC Energy 85,491.0 $3.0M 0.02% -13K -13.1% $34.73 +27.7%
133 CALL PRAXIS PRECISION MEDICINES I 10,000.0 $2.9M 0.02% -34K -77.0% $294.74
134 CAVA PUT CAVA GROUP INC Consumer Cyclical 50,000.0 $2.9M 0.02% -100K -66.7% $58.69 +37.0%
135 AGIO PUT AGIOS PHARMACEUTICALS INC Healthcare 107,300.0 $2.9M 0.02% -279K -72.2% $27.22 +3.4%
136 CRWV CALL COREWEAVE INC Technology 40,000.0 $2.9M 0.02% -1.4M -97.2% $71.61 +47.3%
137 OXY PUT OCCIDENTAL PETE CORP Energy 68,000.0 $2.8M 0.02% -100K -59.5% $41.12 +43.0%
138 SNDX PUT SYNDAX PHARMACEUTICALS INC Healthcare 130,000.0 $2.7M 0.02% -20K -13.3% $21.01 -5.1%
139 VLYPN VALLEY NATL BANCORP Financial Services 230,000.0 $2.7M 0.02% -60K -20.7% $11.68 +121.3%
140 ACAD CALL ACADIA PHARMACEUTICALS INC Healthcare 100,000.0 $2.7M 0.02% -534K -84.2% $26.71 -21.0%
Page 7 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%