Caption Management, LLC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$14.6B

Holdings

904

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (904 positions)

#StockSharesValue% PortfolioType
1
NVDANVIDIA CORPORATION
2,807,100$523.5M3.59%Put
2
CVNACARVANA CO
982,200$414.5M2.84%Put
3
INTUINTUIT
490,600$325.0M2.23%Put
4
WBDWARNER BROS DISCOVERY INC
10,079,200$290.5M1.99%Put
5
TSLATESLA INC
640,000$287.8M1.97%Put
6
AMZNAMAZON COM INC
1,150,000$265.4M1.82%Put
7
AAPLAPPLE INC
940,000$255.5M1.75%Put
8
GOOGALPHABET INC
793,200$248.9M1.71%Put
9
RDDTREDDIT INC
1,037,400$238.5M1.64%Put
10
MSFTMICROSOFT CORP
454,200$219.7M1.51%Put
11
UTHUNITED THERAPEUTICS CORP DEL
437,681$213.3M1.46%Put
12
NFLXNETFLIX INC
1,692,400$158.7M1.09%Put
13
BABOEING CO
696,800$151.3M1.04%Put
14
VRTVERTIV HOLDINGS CO
872,600$141.4M0.97%Put
15
ORCLORACLE CORP
694,820$135.4M0.93%Put
16
ARKKARK ETF TR
1,695,500$130.4M0.89%Put
17
COFCAPITAL ONE FINL CORP
528,610$128.1M0.88%Put
18
CMGCHIPOTLE MEXICAN GRILL INC
3,459,400$128.0M0.88%Put
19
WULFTERAWULF INC
11,001,736$126.4M0.87%Put
20
MPMP MATERIALS CORP
2,442,400$123.4M0.85%Put
21
SATSECHOSTAR CORP
1,105,000$120.1M0.82%Put
22
LLYELI LILLY & CO
111,440$119.8M0.82%Put
23
JNJJOHNSON & JOHNSON
562,300$116.4M0.80%Put
24
RUNSUNRUN INC
6,293,700$115.8M0.79%Put
25
IRENIREN LIMITED
3,010,760$113.7M0.78%Put
26
IM8NINSMED INC
599,400$104.3M0.72%Put
27
RCLROYAL CARIBBEAN GROUP
357,000$99.6M0.68%Call
28
EWCISHARES INC
1,800,000$97.1M0.67%Put
29
EOSEEOS ENERGY ENTERPRISES INC
8,182,427$93.8M0.64%Put
30
GEVGE VERNOVA INC
142,950$93.4M0.64%Put
31
MIGASTRATEGY INC
590,000$89.7M0.61%Put
32
XOMEXXON MOBIL CORP
742,500$89.4M0.61%Put
33
MLYSMINERALYS THERAPEUTICS INC
2,449,200$88.9M0.61%Put
34
COINCOINBASE GLOBAL INC
391,770$88.6M0.61%Call
35
NETCLOUDFLARE INC
449,000$88.5M0.61%Put
36
GOOGLALPHABET INC
280,000$87.6M0.60%Put
37
CLSCELESTICA INC
295,400$87.3M0.60%Put
38
OKEONEOK INC NEW
1,115,700$82.0M0.56%Put
39
CZRCAESARS ENTERTAINMENT INC NE
3,385,936$79.2M0.54%Put
40
BMYBRISTOL-MYERS SQUIBB CO
1,462,700$78.9M0.54%Put
41
BSXBOSTON SCIENTIFIC CORP
822,500$78.4M0.54%Put
42
XBISPDR SERIES TRUST
638,800$77.9M0.53%Put
43
ASTSAST SPACEMOBILE INC
1,052,100$76.4M0.52%Put
44
CDTXCIDARA THERAPEUTICS INC
344,100$76.0M0.52%Put
45
PRAXPRAXIS PRECISION MEDICINES I
243,300$71.7M0.49%Put
46
ASNDASCENDIS PHARMA A/S
332,500$70.9M0.49%Put
47
WWAYFAIR INC
696,800$70.0M0.48%Call
48
CCOCAMECO CORP
739,500$67.7M0.46%Put
49
EXASEXACT SCIENCES CORP
648,879$65.9M0.45%Put
50
AMDADVANCED MICRO DEVICES INC
300,000$64.2M0.44%Put
51
MRVLMARVELL TECHNOLOGY INC
750,000$63.7M0.44%Put
52
VALEVALE S A
4,800,800$62.6M0.43%Put
53
OWLBLUE OWL CAPITAL INC
4,185,723$62.5M0.43%Put
54
NVONOVO-NORDISK A S
1,215,171$61.8M0.42%Put
55
VSTVISTRA CORP
381,500$61.5M0.42%Put
56
KNSAKINIKSA PHARMACEUTICALS INTL
1,490,500$61.5M0.42%Call
57
LITELUMENTUM HLDGS INC
164,200$60.5M0.42%Call
58
RVMDREVOLUTION MEDICINES INC
736,100$58.6M0.40%Call
59
XLISELECT SECTOR SPDR TR
374,500$58.1M0.40%Call
60
LWLAMB WESTON HLDGS INC
1,363,271$57.1M0.39%Put
61
AVGOBROADCOM INC
164,000$56.8M0.39%Put
62
FSLRFIRST SOLAR INC
215,600$56.3M0.39%Put
63
WDCWESTERN DIGITAL CORP
316,200$54.5M0.37%Put
64
CGONCG ONCOLOGY INC
1,309,246$54.4M0.37%Put
65
CELCCELCUITY INC
516,800$51.5M0.35%Call
66
HTDCORCEPT THERAPEUTICS INC
1,449,000$50.4M0.35%Put
67
SMCISUPER MICRO COMPUTER INC
1,709,968$50.0M0.34%Call
68
XMESPDR SERIES TRUST
481,800$49.9M0.34%Put
69
SOCSABLE OFFSHORE CORP
5,513,547$49.7M0.34%Put
70
LQDALIQUIDIA CORPORATION
1,406,338$48.5M0.33%Put
71
GMEDGLOBUS MED INC
547,400$47.8M0.33%Put
72
CMCANADIAN IMPERIAL BANK OF CO
522,400$47.3M0.32%Put
73
GDGENERAL DYNAMICS CORP
140,565$47.3M0.32%Put
74
CORZCORE SCIENTIFIC INC NEW
3,219,200$46.9M0.32%Put
75
RCUSARCUS BIOSCIENCES INC
1,929,098$46.0M0.32%Put
76
TTWOTAKE-TWO INTERACTIVE SOFTWAR
176,200$45.1M0.31%Put
77
VSATVIASAT INC
1,288,623$44.4M0.30%Put
78
UNHUNITEDHEALTH GROUP INC
133,880$44.2M0.30%Put
79
ESTAESTABLISHMENT LABS HLDGS INC
603,000$43.9M0.30%Put
80
SOFISOFI TECHNOLOGIES INC
1,677,500$43.9M0.30%Put
81
MRNAMODERNA INC
1,436,800$42.4M0.29%Put
82
DDOGDATADOG INC
310,763$42.3M0.29%Put
83
KWEBKRANESHARES TRUST
1,234,100$42.0M0.29%Put
84
MRKMERCK & CO INC
384,800$40.5M0.28%Put
85
TRVCCITIGROUP INC
345,000$40.3M0.28%Call
86
FLRFLUOR CORP NEW
992,800$39.3M0.27%Put
87
DKSDICKS SPORTING GOODS INC
197,300$39.1M0.27%Put
88
PLNTPLANET FITNESS INC
358,300$38.9M0.27%Put
89
GDXVANECK ETF TRUST
447,000$38.3M0.26%Put
90
SNOWSNOWFLAKE INC
174,238$38.2M0.26%Put
91
CRWVCOREWEAVE INC
525,600$37.6M0.26%Put
92
GSATGLOBALSTAR INC
610,000$37.2M0.26%Put
93
ISRGINTUITIVE SURGICAL INC
65,600$37.2M0.25%Put
94
G4RABANCO DE CHILE
944,941$35.9M0.25%Put
95
VERAVERA THERAPEUTICS INC
702,200$35.6M0.24%Call
96
COMPCOMPASS INC
3,355,870$35.5M0.24%Call
97
SHOPSHOPIFY INC
216,900$34.9M0.24%Put
98
CIFRCIPHER MINING INC
2,342,198$34.6M0.24%Put
99
EQTEQT CORP
631,450$33.8M0.23%Put
100
PZZAPAPA JOHNS INTL INC
877,116$33.8M0.23%Put
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