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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 | |
|---|---|---|---|---|---|---|
26
PUT
iShares China Large-Cap ETF
FXI
$4.31B
| $18.4M | 0.17% |
+500,000
| New | +$17.5M |
|
27
CALL
Salesforce
CRM
$134B
| $16.7M | 0.16% |
61,300
+59,800
| +3,987% | +$16M |
|
28
PUT
Microsoft
MSFT
$2.84T
| $14.7M | 0.14% |
29,500
-10,800
| -27% | -$4.69M |
|
|
29
PUT
NVIDIA
NVDA
$5.01T
| $14.2M | 0.13% |
89,800
-5,771,000
| -98% | -$726M |
|
30
PUT
Tesla
TSLA
$1.24T
| $13M | 0.12% |
41,000
-46,600
| -53% | -$14M |
|
|
ESGR
31
DELISTED
Enstar Group
ESGR
| $12M | 0.11% |
+35,657
| New | +$11.9M |
|
32
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
| $10.6M | 0.1% |
120,353
-49,050
| -29% | -$4.28M |
|
33
Brookfield Asset Management
BAM
$74B
| $10.5M | 0.1% |
159,608
+39,898
| +33% | +$2.14M |
|
34
PUT
Alphabet (Google) Class A
GOOGL
$3.91T
| $10.3M | 0.1% |
58,600
-27,100
| -32% | -$4.44M |
|
35
Cheniere Energy
LNG
$56.5B
| $10.2M | 0.09% |
41,818
+15,852
| +61% | +$3.67M |
|
36
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
| $10.1M | 0.09% |
+108,677
| New | +$9.78M |
|
|
RDUS
37
DELISTED
Radius Recycling
RDUS
| $9.53M | 0.09% |
+320,957
| New | +$9.42M |
|
38
PUT
Apple
AAPL
$4.89T
| $9.27M | 0.09% |
45,200
-56,200
| -55% | -$11.3M |
|
39
News Corp Class A
NWSA
$14.5B
| $9.19M | 0.09% |
309,154
+708
| +0.2% | +$19.5K |
|
40
State Street SPDR S&P Regional Banking ETF
KRE
$4.86B
| $8.77M | 0.08% |
+147,712
| New | +$8.22M |
|
|
41
CALL
Microsoft
MSFT
$2.84T
| $8.46M | 0.08% |
17,000
+4,100
| +32% | +$1.78M |
|
42
Restaurant Brands International
QSR
$25.1B
| $8.26M | 0.08% |
+124,539
| New | +$8.32M |
|
43
Applovin
APP
$132B
| $7.84M | 0.07% |
22,390
+1,246
| +6% | +$404K |
|
|
44
CALL
NVIDIA
NVDA
$5.01T
| $7.76M | 0.07% |
49,100
-276,900
| -85% | -$34.8M |
|
45
PUT
SLB Ltd
SLB
$77.8B
| $7.44M | 0.07% |
220,000
+97,300
| +79% | +$3.37M |
|
|
GLXY
46
Galaxy Digital Inc
GLXY
$4.34B
| $7.43M | 0.07% |
+306,615
| New | +$6.22M |
|
|
BRDG
47
DELISTED
Bridge Investment Group
BRDG
| $7.35M | 0.07% |
734,524
+585,637
| +393% | +$5.46M |
|
48
CALL
TSMC
TSM
$2.09T
| $7.34M | 0.07% |
32,400
-61,400
| -65% | -$11.4M |
|
|
49
CALL
Uber
UBER
$134B
| $7.31M | 0.07% |
78,300
+75,600
| +2,800% | +$6.22M |
|
50
Shopify
SHOP
$148B
| $6.66M | 0.06% |
57,728
-1,101
| -2% | -$110K |
|
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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.