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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
-4.72%
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
$18B
AUM Growth
+$790M
Cap. Flow
+$2.01B
Cap. Flow %
11.18%
Top 10 Hldgs %
71.51%
Holding
779
New
416
Increased
180
Reduced
79
Closed
101

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$9.08B
2
MSTR icon
Strategy Inc
MSTR
+$325M
3
UBER icon
Uber
UBER
+$147M
4
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$146M
5
VOO icon
Vanguard S&P 500 ETF
VOO
+$127M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$9.37B
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$449M
3
NVDA icon
NVIDIA
NVDA
+$339M
4
CRWD icon
CrowdStrike
CRWD
+$225M
5
FBTC icon
Fidelity Wise Origin Bitcoin Fund
FBTC
+$93.6M

Sector Composition

Rank Sector Weight
1 Technology 8.84%
2 Financials 1.25%
3 Communication Services 0.99%
4 Industrials 0.87%
5 Consumer Discretionary 0.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XOM icon
26
ExxonMobil
XOM
$651B
$95.6M 0.53%
803,700
+798,612
+15,696% +$88.3M
SMH icon
27
PUT
VanEck Semiconductor ETF
SMH
$67.6B
$94.1M 0.52%
+445,000
New +$107M
AMGN icon
28
PUT
Amgen
AMGN
$203B
$94.1M 0.52%
301,900
+301,200
+43,029% +$88.9M
AMGN icon
29
Amgen
AMGN
$203B
$93.6M 0.52%
300,557
+300,329
+131,723% +$88.7M
COST icon
30
PUT
Costco
COST
$415B
$92M 0.51%
97,300
+95,800
+6,387% +$93.4M
COST icon
31
Costco
COST
$415B
$91.2M 0.51%
96,417
+95,982
+22,065% +$93.6M
DELL icon
32
Dell
DELL
$283B
$91.2M 0.51%
1,000,000
-250,000
-20% -$26.4M
DELL icon
33
PUT
Dell
DELL
$283B
$91.2M 0.51%
1,000,000
-250,000
-20% -$26.4M
ARM icon
34
PUT
Arm
ARM
$278B
$72.5M 0.4%
+678,700
New +$94.6M
KWEB icon
35
CALL
KraneShares CSI China Internet ETF
KWEB
$5.2B
$68.1M 0.38%
1,950,000
+1,500,000
+333% +$49.7M
IBM icon
36
PUT
IBM
IBM
$202B
$67.8M 0.38%
272,500
-28,500
-9% -$6.97M
IBM icon
37
IBM
IBM
$202B
$67.4M 0.37%
270,858
-29,748
-10% -$7.28M
SPY icon
38
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$66.9M 0.37%
119,600
+69,600
+139% +$40.9M
IWM icon
39
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$59.8M 0.33%
+300,000
New +$65.1M
AVGO icon
40
PUT
Broadcom
AVGO
$1.82T
$58.4M 0.32%
348,600
+337,100
+2,931% +$71.3M
ARM icon
41
Arm
ARM
$278B
$58.2M 0.32%
+544,813
New +$76M
SMH icon
42
CALL
VanEck Semiconductor ETF
SMH
$67.6B
$50.8M 0.28%
+240,000
New +$57.5M
IEI icon
43
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
$40.2M 0.22%
+340,510
New +$39.7M
NKE icon
44
PUT
Nike
NKE
$61.9B
$38.3M 0.21%
+603,000
New +$44.4M
NKE icon
45
Nike
NKE
$61.9B
$38.2M 0.21%
+602,015
New +$44.3M
W icon
46
Wayfair
W
$11.1B
$36.8M 0.2%
+1,150,000
New +$47.8M
W icon
47
PUT
Wayfair
W
$11.1B
$36.8M 0.2%
+1,150,000
New +$47.8M
CRWD icon
48
PUT
CrowdStrike
CRWD
$187B
$35.6M 0.2%
403,600
-2,196,000
-84% -$209M
NVDA icon
49
CALL
NVIDIA
NVDA
$5.01T
$35.3M 0.2%
326,000
+314,700
+2,785% +$39.9M
EEM icon
50
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
$35M 0.19%
800,000
+300,000
+60% +$13M
1
2
3 4 5

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X
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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 Q1 2025 Portfolio in Review

As of Q1 2025, Capula Management held 779 positions worth $18B, up 4.6% from $17.2B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Capula Management deployed $2.01B of net new capital in Q1 2025, opening 416 new positions and adding to 180 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 15,379,127 shares worth $8.64B.

By sector, the portfolio is most concentrated in Technology at 8.8% of assets, down from 11% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $9.37B trimmed.

  • Capula Management's largest Q1 2025 buy was iShares Core S&P 500 ETF: 15,379,127 shares worth $8.64B.
  • Capula Management added most to Strategy Inc in Q1 2025, an estimated $325M increase.
  • Capula Management's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $9.37B.
  • Capula Management fully exited Alphabet (Google) Class C in Q1 2025, selling an estimated $83.8M.
  • Capula Management's ten largest holdings make up 72% of its $18B portfolio in Q1 2025.
  • Capula Management opened 416 new positions and closed 101 in Q1 2025.
  • Capula Management's portfolio value rose 4.6% quarter-over-quarter to $18B.

Based on Capula Management's 13F filing for Q1 2025, filed 14 May 2025.