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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
GOOG icon
51
PUT
Alphabet (Google) Class C
GOOG
$3.88T
$50.2M 0.25%
+160,000
New +$45.8M
QQQ icon
52
Invesco QQQ Trust
QQQ
$460B
$47.1M 0.24%
76,595
-453,985
-86% -$279M
WBD icon
53
Warner Bros
WBD
$65.1B
$46M 0.23%
+1,597,068
New +$37.3M
TSLA icon
54
Tesla
TSLA
$1.2T
$45.9M 0.23%
102,134
-8,589
-8% -$3.81M
NVDA icon
55
NVIDIA
NVDA
$5.06T
$45.2M 0.23%
242,496
+167,823
+225% +$31.2M
META icon
56
Meta Platforms (Facebook)
META
$1.54T
$42M 0.21%
63,654
+53,674
+538% +$35.8M
EXAS
57
DELISTED
Exact Sciences
EXAS
$42M 0.21%
+413,170
New +$33.2M
XME icon
58
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.11B
$41.4M 0.21%
+400,000
New +$39.5M
NKE icon
59
PUT
Nike
NKE
$60.8B
$41.1M 0.21%
645,300
-1,119,100
-63% -$72.9M
NKE icon
60
Nike
NKE
$60.8B
$40.9M 0.21%
642,610
-1,108,187
-63% -$72.2M
JD icon
61
JD.com
JD
$40.6B
$38.2M 0.19%
+1,330,000
New +$41.6M
JD icon
62
PUT
JD.com
JD
$40.6B
$38.2M 0.19%
+1,330,000
New +$41.6M
AMGN icon
63
PUT
Amgen
AMGN
$201B
$37.8M 0.19%
115,600
+108,800
+1,600% +$34.5M
DAY
64
DELISTED
Dayforce
DAY
$36.8M 0.18%
532,716
+125,716
+31% +$8.65M
EEM icon
65
iShares MSCI Emerging Markets ETF
EEM
$28.6B
$36.2M 0.18%
662,118
-813,816
-55% -$44.3M
WBD icon
66
PUT
Warner Bros
WBD
$65.1B
$36.2M 0.18%
+1,254,400
New +$29.3M
AMGN icon
67
Amgen
AMGN
$201B
$36M 0.18%
110,026
+107,867
+4,996% +$34.2M
SLV icon
68
CALL
iShares Silver Trust
SLV
$27.8B
$35.5M 0.18%
550,800
-1,249,200
-69% -$62.5M
CYBR
69
DELISTED
CyberArk
CYBR
$35.4M 0.18%
79,291
+6,958
+10% +$3.35M
AMZN icon
70
PUT
Amazon
AMZN
$2.51T
$32.1M 0.16%
139,100
-166,400
-54% -$38.1M
RNAM
71
DELISTED
Avidity Biosciences
RNAM
$28.1M 0.14%
+389,566
New +$25.2M
EA icon
72
Electronic Arts
EA
$52.4B
$27M 0.14%
+132,150
New +$26.7M
AVGO icon
73
PUT
Broadcom
AVGO
$1.87T
$26.8M 0.13%
77,400
-99,800
-56% -$35.7M
FYBR
74
DELISTED
Frontier Communications
FYBR
$25.1M 0.13%
658,205
+122,160
+23% +$4.62M
GLD icon
75
CALL
SPDR Gold Trust
GLD
$130B
$23.8M 0.12%
60,000
-90,000
-60% -$34.4M
1 2
3
4 5

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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
BPC
Banque Pictet & Cie Geneva 73, Switzerland $14.2B AUM 20.68% 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

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.