Capula Management’s State Street SPDR S&P 500 ETF Trust SPY Stock Holding History

Capula Management’s Portfolio SPY Stock Details SPY Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$162M	Buy	217,200 +152,800	+237%	+$111M	0.58%	12
2026 Q1	$41.9M	Sell	64,400 -84,700	-57%	-$57.6M	0.3%	22
2025 Q4	$102M	Buy	+149,100	New	+$101M	0.51%	25
2025 Q2	–	Sell	-269,600	Closed	-$151M	–	839
2025 Q1	$151M	Buy	269,600 +154,600	+134%	+$90.9M	0.84%	14
2024 Q4	$67.4M	Buy	+115,000	New	+$67.8M	0.39%	25
2024 Q3	–	Sell	-50,000	Closed	-$27.2M	–	631
2024 Q2	$27.2M	Buy	50,000 +25,000	+100%	+$13.1M	0.22%	34
2024 Q1	$13.1M	Buy	+25,000	New	+$12.4M	0.31%	26
2023 Q3	–	Sell	-210,000	Closed	-$93.1M	–	651
2023 Q2	$93.1M	Sell	210,000 -189,000	-47%	-$79.3M	2.27%	15
2023 Q1	$163M	Buy	399,000 +335,000	+523%	+$134M	1.97%	10
2022 Q4	$24.5M	Sell	64,000 -664,300	-91%	-$255M	0.33%	82
2022 Q3	$260M	Sell	728,300 -30,700	-4%	-$12.2M	3.51%	3
2022 Q2	$286M	Buy	759,000 +515,300	+211%	+$211M	4.89%	2
2022 Q1	$110M	Buy	243,700 +127,800	+110%	+$56.9M	1.57%	9
2021 Q4	$55M	Sell	115,900 -209,300	-64%	-$96.1M	1.17%	16
2021 Q3	$140M	Sell	325,200 -267,100	-45%	-$118M	1.72%	12
2021 Q2	$254M	Buy	+592,300	New	+$247M	4.09%	4
2021 Q1	–	Sell	-155,100	Closed	-$58M	–	542
2020 Q4	$58M	Buy	155,100 +105,100	+210%	+$37.3M	2.88%	4
2020 Q3	$16.7M	Sell	50,000 -640,000	-93%	-$212M	2.13%	11
2020 Q2	$213M	Buy	690,000 +265,700	+63%	+$77.8M	7.56%	1
2020 Q1	$109M	Sell	424,300 -485,700	-53%	-$148M	3.95%	1
2019 Q4	$293M	Sell	910,000 -5,100	-0.6%	-$1.57M	6.26%	3
2019 Q3	$272M	Buy	915,100 +840,100	+1,120%	+$248M	5.77%	3
2019 Q2	$22M	Buy	+75,000	New	+$21.6M	4.53%	3

Other funds holding SPY

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

Jane Street New York $1.21T AUM 78.12% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $1.28T AUM 58.89% 1-Year Est. Return

D.E. Shaw & Co New York $210B AUM 57.28% 1-Year Est. Return

Northern Trust Chicago, Illinois $860B AUM 41.15% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

Wells Fargo San Francisco, California $617B AUM 30.33% 1-Year Est. Return

Capula Management's SPY Position: Q2 2026 in Review

Capula Management reduced its State Street SPDR S&P 500 ETF Trust (SPY) stake by 25% in Q2 2026, selling an estimated $1.13B and leaving 4,595,409 shares worth $3.43B. The position accounts for 12.26% of the portfolio, ranked #2.

Capula Management first reported a position in SPY in Q3 2018 and has held it in 32 quarters since. The position peaked at $10.6B in Q4 2024. 4,647 funds tracked by Wall St. Rank hold SPY as of Q2 2026.

Capula Management held 4,595,409 shares of State Street SPDR S&P 500 ETF Trust worth $3.43B as of Q2 2026.
Capula Management sold 1,563,813 State Street SPDR S&P 500 ETF Trust shares in Q2 2026, an estimated $1.13B.
State Street SPDR S&P 500 ETF Trust made up 12.26% of Capula Management's portfolio in Q2 2026, its #2 holding.
Capula Management first reported a position in State Street SPDR S&P 500 ETF Trust in Q3 2018 and has held it in 32 quarters since.
Capula Management's State Street SPDR S&P 500 ETF Trust position peaked at $10.6B in Q4 2024.
4,647 funds tracked by Wall St. Rank held State Street SPDR S&P 500 ETF Trust as of Q2 2026.

Based on Capula Management's 13F filing for Q2 2026, filed 14 Aug 2026.