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Capula Management Portfolio holdings
AUM
$28B
Turnover
51.43%
1-Year Est. Return
22.67%
This Fund
S&P 500
This Quarter
Est. Return
-3.58%
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
$14.1B
AUM Growth
-$5.9B
(-30%)
Cap. Flow
-$3.39B
Cap. Flow
% of AUM
-24.11%
Top 10 Holdings %
Top 10 Hldgs %
79.37%
Holding
1,232
New
420
Increased
312
Reduced
280
Closed
164
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
0.4
years
Top 20 Avg Time Held Equity + Options
0.3
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.6
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$5.79B |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$338M |
| 3 |
Clearwater Analytics
CWAN
|
+$60.4M |
| 4 |
Amicus Therapeutics
FOLD
|
+$45.3M |
| 5 |
AES
AES
|
+$36.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$7.4B |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$471M |
| 3 |
iShares Ethereum Trust ETF
ETHA
|
+$207M |
| 4 |
Alibaba
BABA
|
+$201M |
| 5 |
IBM
IBM
|
+$184M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 91.1% |
| 2 | Technology | 2.36% |
| 3 | Healthcare | 1.29% |
| 4 | Communication Services | 1.11% |
| 5 | Consumer Discretionary | 1.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
CALL
Home Depot
HD
$305B
| $2.34M | 0.02% |
7,100
+4,500
| +173% | +$1.64M |
2025 Q1
4 quarters
|
|
227
PUT
O'Reilly Automotive
ORLY
$71.5B
| $2.3M | 0.02% |
24,900
+23,500
| +1,679% | +$2.2M |
2025 Q1
4 quarters
|
|
228
PUT
Howmet Aerospace
HWM
$87B
| $2.28M | 0.02% |
9,900
+9,200
| +1,314% | +$2.14M |
2025 Q4
1 quarter
|
|
229
CALL
Advanced Micro Devices
AMD
$901B
| $2.28M | 0.02% |
11,200
-17,600
| -61% | -$3.76M |
2025 Q1
4 quarters
|
|
230
DELISTED
Apellis Pharmaceuticals
APLS
| $2.26M | 0.02% |
+56,266
| New | +$1.21M |
2026 Q1
0 quarters
|
|
231
PUT
Cummins
CMI
$72.3B
| $2.26M | 0.02% |
4,200
+3,600
| +600% | +$2.04M |
2025 Q3
2 quarters
|
|
232
Texas Instruments
TXN
$253B
| $2.21M | 0.02% |
11,398
+9,733
| +585% | +$1.97M |
2023 Q3
10 quarters
|
|
233
PUT
NXP Semiconductors
NXPI
$57.4B
| $2.2M | 0.02% |
11,200
+10,100
| +918% | +$2.24M |
2025 Q2
3 quarters
|
|
234
Clear Channel Outdoor Holdings
CCO
$1.23B
| $2.2M | 0.02% |
+928,318
| New | +$2.1M |
2026 Q1
0 quarters
|
|
235
PUT
Nucor
NUE
$57.6B
| $2.2M | 0.02% |
+13,000
| New | +$2.27M |
2026 Q1
0 quarters
|
|
236
PUT
Freeport-McMoran
FCX
$100B
| $2.19M | 0.02% |
37,200
+11,500
| +45% | +$695K |
2024 Q1
8 quarters
|
|
237
PUT
Carpenter Technology
CRS
$18.7B
| $2.17M | 0.02% |
+5,500
| New | +$2M |
2026 Q1
0 quarters
|
|
238
PUT
Charles Schwab
SCHW
$163B
| $2.15M | 0.02% |
22,900
+16,100
| +237% | +$1.58M |
2025 Q1
4 quarters
|
|
239
PUT
Berkshire Hathaway Class B
BRK.B
$1.13T
| $2.11M | 0.02% |
4,400
-95,600
| -96% | -$46.9M |
2025 Q3
2 quarters
|
|
240
TXNM Energy Inc
TXNM
$6.45B
| $2.11M | 0.02% |
+36,021
| New | +$2.12M |
2026 Q1
0 quarters
|
|
241
Costco
COST
$438B
| $2.09M | 0.01% |
2,101
+325
| +18% | +$317K |
2022 Q2
15 quarters
|
|
242
McDonald's
MCD
$172B
| $2.09M | 0.01% |
6,722
+5,675
| +542% | +$1.81M |
2024 Q2
7 quarters
|
|
243
Analog Devices
ADI
$193B
| $2.08M | 0.01% |
+6,545
| New | +$2.08M |
2026 Q1
0 quarters
|
|
244
PUT
Dell
DELL
$292B
| $2.05M | 0.01% |
12,500
-683,000
| -98% | -$91M |
2025 Q3
2 quarters
|
|
245
Global X Copper Miners ETF NEW
COPX
$6.91B
| $2.05M | 0.01% |
+26,800
| New | +$2.22M |
2026 Q1
0 quarters
|
|
246
CALL
Goldman Sachs
GS
$258B
| $2.03M | 0.01% |
2,400
+2,000
| +500% | +$1.78M |
2025 Q1
4 quarters
|
|
247
Qualcomm
QCOM
$188B
| $2.03M | 0.01% |
15,733
-634,267
| -98% | -$92.6M |
2024 Q2
7 quarters
|
|
248
White Mountains Insurance
WTM
$5.11B
| $2.02M | 0.01% |
+921
| New | +$1.97M |
2026 Q1
0 quarters
|
|
249
PUT
Teradyne
TER
$52.4B
| $2.02M | 0.01% |
+6,800
| New | +$1.9M |
2026 Q1
0 quarters
|
|
250
Sphere Entertainment
SPHR
$3.92B
| $2M | 0.01% |
+17,011
| New | +$1.78M |
2026 Q1
0 quarters
|
|
Similar funds
Capula Management's Q1 2026 Portfolio in Review
As of Q1 2026, Capula Management held 1,232 positions worth $14.1B, down 30% from $20B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Capula Management withdrew a net $3.39B in Q1 2026, closing 164 positions and reducing 280 holdings. Its most notable exit was iShares Bitcoin Trust, an estimated $471M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 91% of assets, up from 87% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Capula Management opened a new position in Penumbra worth $33.4M.
- Capula Management's largest Q1 2026 buy was Penumbra: 101,779 shares worth $33.4M.
- Capula Management added most to iShares Core S&P 500 ETF in Q1 2026, an estimated $5.79B increase.
- Capula Management's biggest Q1 2026 reduction was Vanguard S&P 500 ETF, cutting an estimated $7.4B.
- Capula Management fully exited iShares Bitcoin Trust in Q1 2026, selling an estimated $471M.
- Capula Management's ten largest holdings make up 79% of its $14.1B portfolio in Q1 2026.
- Capula Management opened 420 new positions and closed 164 in Q1 2026.
- Capula Management's portfolio value fell 30% quarter-over-quarter to $14.1B.
Based on Capula Management's 13F filing for Q1 2026, filed 14 May 2026.