We are live on !
Find out more
Capula Management Portfolio holdings
AUM
$28B
Turnover
51.43%
1-Year Est. Return
22.67%
This Fund
S&P 500
This Quarter Est. Return
+16.2%
1 Year Est. Return
+22.67%
3 Year Est. Return
+90.67%
5 Year Est. Return
+93.79%
10 Year Est. Return
+167.22%
AUM
$28B
AUM Growth
+$13.9B
(+99%)
Cap. Flow
+$13.1B
Cap. Flow % of AUM
Cap. Flow %
46.94%
Top 10 Holdings %
Top 10 Hldgs %
73.32%
Holding
1,190
New
122
Increased
162
Reduced
335
Closed
490
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.5
years
Top 20 Avg Time Held
Equity + Options
0.3
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$7.98B |
| 2 |
Novanta Inc Units
NOVTU
|
+$1.24B |
| 3 |
PPL Corp Corporate Units
PPLC
|
+$1.11B |
| 4 |
NextEra Energy Inc 7.375% Corporate Units
NEE.PRV
|
+$1.08B |
| 5 |
Alibaba
BABA
|
+$405M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.13B |
| 2 |
Clearwater Analytics
CWAN
|
+$63.3M |
| 3 |
Amicus Therapeutics
FOLD
|
+$46.2M |
| 4 |
Sealed Air
SEE
|
+$38.6M |
| 5 |
Hologic
HOLX
|
+$35.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 86.78% |
| 2 | Technology | 4.48% |
| 3 | Consumer Discretionary | 3.01% |
| 4 | Industrials | 1.78% |
| 5 | Healthcare | 0.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares Core S&P 500 ETF
IVV
$886B
| $15B | 53.66% |
20,051,540
+10,956,556
| +120% | +$7.98B |
2025 Q1
5 quarters
|
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$820B
| $3.43B | 12.26% |
4,595,409
-1,563,813
| -25% | -$1.13B |
2018 Q3
31 quarters
|
|
3
PUT
Invesco QQQ Trust
QQQ
$488B
| $378M | 1.35% |
513,700
+142,900
| +39% | +$98.3M |
2019 Q2
28 quarters
|
|
|
4
PUT
Alibaba
BABA
$272B
| $336M | 1.2% |
3,502,700
+3,430,700
| +4,765% | +$430M |
2025 Q3
3 quarters
|
|
|
5
Alibaba
BABA
$272B
| $321M | 1.15% |
3,343,509
+3,228,963
| +2,819% | +$405M |
2024 Q4
6 quarters
|
|
6
PUT
Tesla
TSLA
$1.45T
| $235M | 0.84% |
559,900
+416,700
| +291% | +$166M |
2024 Q1
9 quarters
|
|
7
PUT
Boeing
BA
$151B
| $209M | 0.75% |
966,900
+945,100
| +4,335% | +$210M |
2024 Q4
6 quarters
|
|
|
8
Boeing
BA
$151B
| $206M | 0.74% |
951,980
+944,888
| +13,323% | +$210M |
2025 Q3
3 quarters
|
|
|
9
CALL
Invesco QQQ Trust
QQQ
$488B
| $203M | 0.72% |
275,100
+62,500
| +29% | +$43M |
2023 Q1
13 quarters
|
|
10
PUT
Western Digital
WDC
$132B
| $179M | 0.64% |
281,000
+279,700
| +21,515% | +$136M |
2026 Q1
1 quarter
|
|
|
11
Western Digital
WDC
$132B
| $179M | 0.64% |
+280,315
| New | +$136M |
2026 Q2
0 quarters
|
|
|
12
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$820B
| $162M | 0.58% |
217,200
+152,800
| +237% | +$111M |
2025 Q4
2 quarters
|
|
13
PUT
Uber
UBER
$144B
| $160M | 0.57% |
2,210,900
+2,190,100
| +10,529% | +$161M |
2024 Q4
6 quarters
|
|
|
14
Uber
UBER
$144B
| $159M | 0.57% |
2,205,388
+2,200,405
| +44,158% | +$161M |
2025 Q3
3 quarters
|
|
|
15
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$820B
| $157M | 0.56% |
210,200
+76,700
| +57% | +$55.6M |
2024 Q2
8 quarters
|
|
16
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.9B
| $153M | 0.55% |
1,913,439
+1,823,884
| +2,037% | +$146M |
2026 Q1
1 quarter
|
|
17
PUT
Intel
INTC
$500B
| $151M | 0.54% |
1,083,400
+895,800
| +478% | +$90.6M |
2024 Q2
8 quarters
|
|
|
18
Intel
INTC
$500B
| $147M | 0.53% |
1,052,463
+973,242
| +1,229% | +$98.4M |
2025 Q4
2 quarters
|
|
19
PUT
Pinduoduo
PDD
$115B
| $147M | 0.52% |
1,923,200
+1,771,200
| +1,165% | +$164M |
2025 Q3
3 quarters
|
|
|
20
Pinduoduo
PDD
$115B
| $146M | 0.52% |
1,914,949
+1,897,365
| +10,790% | +$175M |
2025 Q3
3 quarters
|
|
21
PUT
Walmart Inc
WMT
$939B
| $142M | 0.51% |
1,255,800
+1,195,800
| +1,993% | +$148M |
2024 Q2
8 quarters
|
|
|
22
Walmart Inc
WMT
$939B
| $142M | 0.51% |
1,253,680
+1,242,072
| +10,700% | +$154M |
2024 Q2
8 quarters
|
|
23
PUT
iShares Russell 2000 ETF
IWM
$78B
| $135M | 0.48% |
449,000
-134,600
| -23% | -$37.8M |
2026 Q1
1 quarter
|
|
24
PUT
Broadcom
AVGO
$1.62T
| $121M | 0.43% |
320,800
+218,500
| +214% | +$87.6M |
2022 Q1
17 quarters
|
|
|
25
Broadcom
AVGO
$1.62T
| $118M | 0.42% |
311,536
+274,051
| +731% | +$110M |
2025 Q3
3 quarters
|
|
Similar funds
Capula Management's Q2 2026 Portfolio in Review
As of Q2 2026, Capula Management held 1,190 positions worth $28B, up 99% from $14.1B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Capula Management deployed $13.1B of net new capital in Q2 2026, opening 122 new positions and adding to 162 existing holdings. Its largest new stake was PPL Corp Corporate Units: 22,500,000 shares worth $11M.
By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, down from 91% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $1.13B trimmed.
- Capula Management's largest Q2 2026 buy was PPL Corp Corporate Units: 22,500,000 shares worth $11M.
- Capula Management added most to iShares Core S&P 500 ETF in Q2 2026, an estimated $7.98B increase.
- Capula Management's biggest Q2 2026 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.13B.
- Capula Management fully exited Clearwater Analytics in Q2 2026, selling an estimated $63.3M.
- Capula Management's ten largest holdings make up 73% of its $28B portfolio in Q2 2026.
- Capula Management opened 122 new positions and closed 490 in Q2 2026.
- Capula Management's portfolio value rose 99% quarter-over-quarter to $28B.
Based on Capula Management's 13F filing for Q2 2026, filed 14 Aug 2026.