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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
+12.86%
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
$10.8B
AUM Growth
-$7.21B
(-40%)
Cap. Flow
-$9.02B
Cap. Flow
% of AUM
-83.79%
Top 10 Holdings %
Top 10 Hldgs %
86.03%
Holding
894
New
215
Increased
99
Reduced
276
Closed
265
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$578M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$113M |
| 3 |
iShares Bitcoin Trust
IBIT
|
+$97.4M |
| 4 |
ETHA
iShares Ethereum Trust ETF
ETHA
|
+$58.9M |
| 5 |
K
Kellanova
K
|
+$28.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$4.43B |
| 2 |
NVIDIA
NVDA
|
+$693M |
| 3 |
Strategy Inc
MSTR
|
+$473M |
| 4 |
Fidelity Wise Origin Bitcoin Fund
FBTC
|
+$241M |
| 5 |
Uber
UBER
|
+$169M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 0.58% |
| 2 | Financials | 0.52% |
| 3 | Consumer Discretionary | 0.38% |
| 4 | Consumer Staples | 0.33% |
| 5 | Healthcare | 0.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
PUT
Chipotle Mexican Grill
CMG
$40.8B
| $197K | ﹤0.01% |
3,500
| – | – |
|
377
PepsiCo
PEP
$186B
| $196K | ﹤0.01% |
1,482
-59
| -4% | -$7.95K |
|
378
CALL
Amgen
AMGN
$203B
| $195K | ﹤0.01% |
700
-200
| -22% | -$56.7K |
|
379
PUT
CME Group
CME
$92.2B
| $193K | ﹤0.01% |
700
| – | – |
|
380
PUT
Southern Company
SO
$110B
| $193K | ﹤0.01% |
2,100
| – | – |
|
381
CALL
Boeing
BA
$165B
| $189K | ﹤0.01% |
900
-200
| -18% | -$37.8K |
|
382
PUT
Royal Caribbean
RCL
$78.7B
| $188K | ﹤0.01% |
+600
| New | +$143K |
|
383
CALL
Citigroup
C
$222B
| $187K | ﹤0.01% |
2,200
-3,600
| -62% | -$260K |
|
384
PUT
Emerson Electric
EMR
$82.9B
| $187K | ﹤0.01% |
1,400
| – | – |
|
|
385
Amgen
AMGN
$203B
| $187K | ﹤0.01% |
668
-299,889
| -100% | -$85M |
|
|
CGAU
386
Centerra Gold
CGAU
$3.22B
| $186K | ﹤0.01% |
+19,000
| New | +$130K |
|
387
CALL
Pfizer
PFE
$140B
| $184K | ﹤0.01% |
7,600
-1,300
| -15% | -$30.3K |
|
388
PUT
Intel
INTC
$466B
| $184K | ﹤0.01% |
8,200
-939,800
| -99% | -$19.5M |
|
389
PUT
Altria Group
MO
$122B
| $182K | ﹤0.01% |
3,100
-1,900
| -38% | -$112K |
|
390
CALL
KLA
KLAC
$275B
| $179K | ﹤0.01% |
2,000
-8,000
| -80% | -$602K |
|
391
Mastercard
MA
$477B
| $178K | ﹤0.01% |
317
-377
| -54% | -$208K |
|
392
CALL
Danaher
DHR
$135B
| $178K | ﹤0.01% |
900
-500
| -36% | -$97K |
|
393
PUT
Duke Energy
DUK
$102B
| $177K | ﹤0.01% |
1,500
| – | – |
|
|
MRSH
394
Marsh
MRSH
$86.3B
| $176K | ﹤0.01% |
803
+295
| +58% | +$66.6K |
|
395
Yum China
YUMC
$14.9B
| $175K | ﹤0.01% |
+3,924
| New | +$175K |
|
396
CALL
NextEra Energy
NEE
$187B
| $174K | ﹤0.01% |
2,500
-700
| -22% | -$48.6K |
|
397
Stellantis
STLA
$16.5B
| $173K | ﹤0.01% |
19,153
+3,204
| +20% | +$31.6K |
|
398
T-Mobile US
TMUS
$193B
| $173K | ﹤0.01% |
724
-399,778
| -100% | -$97.6M |
|
399
CALL
Boston Scientific
BSX
$65.8B
| $172K | ﹤0.01% |
1,600
+200
| +14% | +$20.2K |
|
400
PUT
Sherwin-Williams
SHW
$78.3B
| $172K | ﹤0.01% |
500
| – | – |
|
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Capula Management's Q2 2025 Portfolio in Review
As of Q2 2025, Capula Management held 894 positions worth $10.8B, down 40% from $18B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Capula Management withdrew a net $9.02B in Q2 2025, closing 265 positions and reducing 276 holdings. Its most notable exit was NVIDIA, an estimated $693M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 0.58% of assets, down from 0.99% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Capula Management opened a new position in Blueprint Medicines worth $20M.
- Capula Management's largest Q2 2025 buy was Blueprint Medicines: 156,114 shares worth $20M.
- Capula Management added most to State Street SPDR S&P 500 ETF Trust in Q2 2025, an estimated $578M increase.
- Capula Management's biggest Q2 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $4.43B.
- Capula Management fully exited NVIDIA in Q2 2025, selling an estimated $693M.
- Capula Management's ten largest holdings make up 86% of its $10.8B portfolio in Q2 2025.
- Capula Management opened 215 new positions and closed 265 in Q2 2025.
- Capula Management's portfolio value fell 40% quarter-over-quarter to $10.8B.
Based on Capula Management's 13F filing for Q2 2025, filed 13 Aug 2025.