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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
Cap. Flow
-$9.02B
Cap. Flow %
-83.79%
Top 10 Hldgs %
86.03%
Holding
894
New
215
Increased
99
Reduced
276
Closed
265

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$578M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$113M
3
IBIT icon
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
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.43B
2
NVDA icon
NVIDIA
NVDA
+$693M
3
MSTR icon
Strategy Inc
MSTR
+$473M
4
FBTC icon
Fidelity Wise Origin Bitcoin Fund
FBTC
+$241M
5
UBER icon
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
COF icon
401
PUT
Capital One
COF
$124B
$170K ﹤0.01%
800
– –
MDLZ icon
402
PUT
Mondelez International
MDLZ
$77.7B
$169K ﹤0.01%
2,500
-100
-4% -$6.67K
KMX icon
403
CALL
CarMax
KMX
$8.27B
$168K ﹤0.01%
+2,500
New +$168K
KMX icon
404
PUT
CarMax
KMX
$8.27B
$168K ﹤0.01%
+2,500
New +$168K
PNC icon
405
PUT
PNC Financial Services
PNC
$100B
$168K ﹤0.01%
900
– –
USB icon
406
PUT
US Bancorp
USB
$99.6B
$167K ﹤0.01%
3,700
– –
MAR icon
407
PUT
Marriott International
MAR
$98.7B
$164K ﹤0.01%
600
– –
PANW icon
408
CALL
Palo Alto Networks
PANW
$264B
$164K ﹤0.01%
+800
New +$149K
UNP icon
409
CALL
Union Pacific
UNP
$183B
$161K ﹤0.01%
700
– –
MU icon
410
CALL
Micron Technology
MU
$1.04T
$160K ﹤0.01%
1,300
-195,900
-99% -$18.3M
WM icon
411
PUT
Waste Management
WM
$95.9B
$160K ﹤0.01%
700
– –
PGR icon
412
CALL
Progressive
PGR
$124B
$160K ﹤0.01%
600
+100
+20% +$27.4K
HLT icon
413
PUT
Hilton Worldwide
HLT
$74B
$160K ﹤0.01%
600
– –
EQIX icon
414
CALL
Equinix
EQIX
$107B
$159K ﹤0.01%
+200
New +$170K
EQIX icon
415
PUT
Equinix
EQIX
$107B
$159K ﹤0.01%
200
– –
GEV icon
416
CALL
GE Vernova
GEV
$270B
$159K ﹤0.01%
+300
New +$125K
SYK icon
417
CALL
Stryker
SYK
$127B
$158K ﹤0.01%
+400
New +$150K
SPGI icon
418
CALL
S&P Global
SPGI
$126B
$158K ﹤0.01%
300
-100
-25% -$49.9K
ABBV icon
419
AbbVie
ABBV
$458B
$158K ﹤0.01%
850
-911
-52% -$169K
REGN icon
420
PUT
Regeneron Pharmaceuticals
REGN
$68.8B
$158K ﹤0.01%
300
– –
COP icon
421
ConocoPhillips
COP
$147B
$156K ﹤0.01%
1,739
+322
+23% +$29K
APO icon
422
PUT
Apollo Global Management
APO
$70.7B
$156K ﹤0.01%
1,100
– –
ELV icon
423
PUT
Elevance Health
ELV
$81.9B
$156K ﹤0.01%
400
– –
LOW icon
424
CALL
Lowe's Companies
LOW
$116B
$155K ﹤0.01%
700
-300
-30% -$67K
GILD icon
425
CALL
Gilead Sciences
GILD
$161B
$155K ﹤0.01%
+1,400
New +$149K
15 16
17
18 19

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 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.