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Capula Management Portfolio holdings

AUM $14.1B
1-Year Est. Return 19.14%
This Fund
S&P 500
This Quarter Est. Return
+0.74%
1 Year Est. Return
+19.14%
3 Year Est. Return
+85.66%
5 Year Est. Return
+76.65%
10 Year Est. Return
+131.38%
AUM
$20B
AUM Growth
-$124M
Cap. Flow
+$329M
Cap. Flow %
1.65%
Top 10 Hldgs %
68.14%
Holding
948
New
155
Increased
289
Reduced
312
Closed
138

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$7.4B
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.76B
3
IBM icon
IBM
IBM
+$204M
4
BABA icon
Alibaba
BABA
+$169M
5
UBER icon
Uber
UBER
+$111M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$6.67B
2
MSTR icon
Strategy Inc
MSTR
+$375M
3
UNH icon
UnitedHealth
UNH
+$326M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$279M
5
AMAT icon
Applied Materials
AMAT
+$122M

Sector Composition

Rank Sector Weight
1 Technology 4.56%
2 Consumer Discretionary 2.07%
3 Communication Services 2.06%
4 Financials 1.46%
5 Industrials 0.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRK icon
276
PUT
Merck
MRK
$324B
$1.09M 0.01%
10,400
-6,500
-38% -$610K
PLD icon
277
PUT
Prologis
PLD
$138B
$1.09M 0.01%
8,500
+700
+9% +$87.3K
TECK icon
278
Teck Resources
TECK
$29.5B
$1.08M 0.01%
16,439
+3,145
+24% +$136K
BKNG icon
279
CALL
Booking.com
BKNG
$138B
$1.07M 0.01%
5,000
– –
PFSI icon
280
PennyMac Financial
PFSI
$4.38B
$1.06M 0.01%
+8,076
New +$1.03M
GEV icon
281
PUT
GE Vernova
GEV
$270B
$1.05M 0.01%
1,600
-800
-33% -$487K
STLA icon
282
Stellantis
STLA
$16.5B
$1.04M 0.01%
110,216
+86,669
+368% +$932K
MS icon
283
PUT
Morgan Stanley
MS
$337B
$1.01M 0.01%
5,700
-4,100
-42% -$684K
RTX icon
284
PUT
RTX Corp
RTX
$287B
$1.01M 0.01%
5,500
-1,900
-26% -$330K
DIS icon
285
PUT
Walt Disney
DIS
$165B
$990K 0.01%
8,700
-6,200
-42% -$683K
C icon
286
PUT
Citigroup
C
$222B
$980K ﹤0.01%
8,400
-5,800
-41% -$602K
O icon
287
PUT
Realty Income
O
$61.2B
$975K ﹤0.01%
17,300
+700
+4% +$40.5K
SNOW icon
288
CALL
Snowflake
SNOW
$92.9B
$965K ﹤0.01%
4,400
-5,000
-53% -$1.22M
AXP icon
289
PUT
American Express
AXP
$223B
$962K ﹤0.01%
2,600
-1,400
-35% -$501K
FLUT icon
290
Flutter Entertainment
FLUT
$17.6B
$958K ﹤0.01%
4,453
-3,657
-45% -$822K
M icon
291
PUT
Macy's
M
$6.15B
$950K ﹤0.01%
43,100
– –
PM icon
292
PUT
Philip Morris
PM
$301B
$946K ﹤0.01%
5,900
-4,800
-45% -$744K
AMLP icon
293
Alerian MLP ETF
AMLP
$13B
$940K ﹤0.01%
19,982
-17,063
-46% -$799K
NFLX icon
294
CALL
Netflix
NFLX
$292B
$938K ﹤0.01%
10,000
-14,000
-58% -$1.51M
ADT icon
295
ADT
ADT
$5.16B
$923K ﹤0.01%
+114,416
New +$951K
MCK icon
296
PUT
McKesson
MCK
$98.5B
$902K ﹤0.01%
1,100
+100
+10% +$81.6K
HD icon
297
CALL
Home Depot
HD
$332B
$895K ﹤0.01%
2,600
+800
+44% +$293K
XBI icon
298
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$893K ﹤0.01%
+7,324
New +$840K
UNH icon
299
CALL
UnitedHealth
UNH
$382B
$891K ﹤0.01%
2,700
+700
+35% +$237K
MCD icon
300
PUT
McDonald's
MCD
$188B
$886K ﹤0.01%
2,900
-2,100
-42% -$643K
10 11
12
13 14

Similar funds

X
Xponance Philadelphia, Pennsylvania $14.1B AUM 30.11% 1-Year Est. Return
BIP
Brandes Investment Partners La Jolla, California $14.1B AUM 25.52% 1-Year Est. Return
FGP
Freestone Grove Partners San Francisco, California $14.2B AUM 24.58% 1-Year Est. Return
TI
Trexquant Investment Stamford, Connecticut $13.9B AUM 31.98% 1-Year Est. Return
SSA
Schonfeld Strategic Advisors New York $14.2B AUM 37.17% 1-Year Est. Return
SAM
Silvercrest Asset Management New York $13.8B AUM 28.39% 1-Year Est. Return
BBVA
Banco Bilbao Vizcaya Argentaria Madrid, Spain $14.3B AUM 26.23% 1-Year Est. Return
IFP
Independent Franchise Partners London, United Kingdom $14.3B AUM 3.49% 1-Year Est. Return

Capula Management's Q4 2025 Portfolio in Review

As of Q4 2025, Capula Management held 948 positions worth $20B, down 0.62% from $20.1B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Capula Management's Q4 2025 filing shows 155 new, 289 increased, 312 reduced and 138 closed positions. Its largest new stake was Alphabet (Google) Class C: 160,000 shares worth $50.2M. The largest sale was iShares Core S&P 500 ETF, an estimated $6.67B.

By sector, the portfolio is most concentrated in Technology at 4.6% of assets, down from 6.3% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Capula Management's largest Q4 2025 buy was Alphabet (Google) Class C: 160,000 shares worth $50.2M.
  • Capula Management added most to Vanguard S&P 500 ETF in Q4 2025, an estimated $7.4B increase.
  • Capula Management's biggest Q4 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $6.67B.
  • Capula Management fully exited UnitedHealth in Q4 2025, selling an estimated $326M.
  • Capula Management's ten largest holdings make up 68% of its $20B portfolio in Q4 2025.
  • Capula Management opened 155 new positions and closed 138 in Q4 2025.
  • Capula Management's portfolio value fell 0.62% quarter-over-quarter to $20B.

Based on Capula Management's 13F filing for Q4 2025, filed 13 Feb 2026.