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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
AMAT icon
551
Applied Materials
AMAT
$426B
$235K ﹤0.01%
914
-508,999
-100% -$122M
CRWD icon
552
CALL
CrowdStrike
CRWD
$187B
$234K ﹤0.01%
2,000
-4,000
-67% -$509K
ROST icon
553
PUT
Ross Stores
ROST
$76.6B
$234K ﹤0.01%
1,300
+100
+8% +$16.7K
TT icon
554
CALL
Trane Technologies
TT
$106B
$234K ﹤0.01%
600
+200
+50% +$82.7K
IREN icon
555
Iris Energy
IREN
$13.2B
$233K ﹤0.01%
+6,174
New +$318K
DLR icon
556
PUT
Digital Realty Trust
DLR
$73.7B
$232K ﹤0.01%
1,500
+300
+25% +$49.3K
REGN icon
557
CALL
Regeneron Pharmaceuticals
REGN
$68.8B
$232K ﹤0.01%
300
– –
AEP icon
558
PUT
American Electric Power
AEP
$73.7B
$231K ﹤0.01%
2,000
+400
+25% +$47.2K
PENN icon
559
PENN Entertainment
PENN
$2.74B
$230K ﹤0.01%
15,598
-920
-6% -$14.4K
DE icon
560
Deere & Co
DE
$170B
$230K ﹤0.01%
493
+78
+19% +$36.6K
ASAN icon
561
Asana
ASAN
$1.58B
$228K ﹤0.01%
+16,647
New +$229K
DUK icon
562
Duke Energy
DUK
$102B
$227K ﹤0.01%
1,939
-530
-21% -$64.7K
ICE icon
563
CALL
Intercontinental Exchange
ICE
$82.4B
$227K ﹤0.01%
1,400
-500
-26% -$78.3K
VST icon
564
PUT
Vistra
VST
$55.1B
$226K ﹤0.01%
1,400
+200
+17% +$36.4K
LYFT icon
565
PUT
Lyft
LYFT
$5.39B
$223K ﹤0.01%
11,500
– –
EIX icon
566
Edison International
EIX
$30.7B
$221K ﹤0.01%
+3,678
New +$211K
WM icon
567
CALL
Waste Management
WM
$95.9B
$220K ﹤0.01%
1,000
+300
+43% +$63.9K
VMI icon
568
Valmont Industries
VMI
$9.44B
$220K ﹤0.01%
+546
New +$222K
DVA icon
569
DaVita
DVA
$15.1B
$219K ﹤0.01%
1,932
+705
+57% +$85.7K
NOW icon
570
ServiceNow
NOW
$102B
$218K ﹤0.01%
1,425
-3,090
-68% -$530K
APH icon
571
CALL
Amphenol
APH
$188B
$216K ﹤0.01%
1,600
+900
+129% +$120K
TGT icon
572
PUT
Target
TGT
$62.1B
$215K ﹤0.01%
2,200
+400
+22% +$36.9K
Z icon
573
Zillow
Z
$7.04B
$214K ﹤0.01%
3,141
+854
+37% +$61.8K
PNR icon
574
Pentair
PNR
$10.2B
$214K ﹤0.01%
2,056
+369
+22% +$39.4K
FRSH icon
575
Freshworks
FRSH
$2.84B
$213K ﹤0.01%
+17,420
New +$206K
21 22
23
24 25

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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 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.