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Capula Management Portfolio holdings
AUM
$28B
1-Year Est. Return
22.67%
This Fund
S&P 500
This Quarter
Est. Return
-3.58%
1 Year Est. Return
+22.67%
3 Year Est. Return
+90.67%
5 Year Est. Return
+93.79%
10 Year Est. Return
+167.22%
AUM
$14.1B
AUM Growth
-$5.9B
(-30%)
Cap. Flow
-$3.39B
Cap. Flow
% of AUM
-24.11%
Top 10 Holdings %
Top 10 Hldgs %
79.37%
Holding
1,232
New
420
Increased
312
Reduced
280
Closed
164
Avg Time Held Equity + Options
2.4
quarters
Top 10 Avg Time Held Equity + Options
1.6
quarters
Top 20 Avg Time Held Equity + Options
1.3
quarters
Avg Time Held Equity only
1.8
quarters
Top 10 Avg Time Held Equity only
2.5
quarters
Top 20 Avg Time Held Equity only
1.3
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$5.79B |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$338M |
| 3 |
Clearwater Analytics
CWAN
|
+$60.4M |
| 4 |
Amicus Therapeutics
FOLD
|
+$45.3M |
| 5 |
AES
AES
|
+$36.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$7.4B |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$471M |
| 3 |
iShares Ethereum Trust ETF
ETHA
|
+$207M |
| 4 |
Alibaba
BABA
|
+$201M |
| 5 |
IBM
IBM
|
+$184M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 91.1% |
| 2 | Technology | 2.36% |
| 3 | Healthcare | 1.29% |
| 4 | Communication Services | 1.11% |
| 5 | Consumer Discretionary | 1.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
PUT
Palantir
PLTR
$502B
| $16.9M | 0.12% |
115,400
+47,200
| +69% | +$7.22M |
2025 Q1
4 quarters
|
|
52
PUT
KraneShares CSI China Internet ETF
KWEB
$4.51B
| $16.4M | 0.12% |
+577,200
| New | +$18.9M |
2026 Q1
0 quarters
|
|
53
CALL
iShares Expanded Tech-Software Sector ETF
IGV
$14.9B
| $16.4M | 0.12% |
+204,400
| New | +$18.1M |
2026 Q1
0 quarters
|
|
54
PUT
Pinduoduo
PDD
$115B
| $15.5M | 0.11% |
152,000
-25,800
| -15% | -$2.71M |
2025 Q3
2 quarters
|
|
55
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$3.3B
| $15.1M | 0.11% |
+232,100
| New | +$15.7M |
2026 Q1
0 quarters
|
|
56
PUT
Alphabet (Google) Class C
GOOG
$4.27T
| $14.7M | 0.1% |
51,300
-108,700
| -68% | -$34.1M |
2025 Q4
1 quarter
|
|
57
DELISTED
Coterra Energy
CTRA
| $14.5M | 0.1% |
+412,352
| New | +$12.4M |
2026 Q1
0 quarters
|
|
|
58
Alibaba
BABA
$276B
| $14.4M | 0.1% |
114,546
-1,334,770
| -92% | -$201M |
2024 Q4
5 quarters
|
|
59
NextEra Energy Inc 7.375% Corporate Units
NEE.PRV
| $13.8M | 0.1% |
+549,593
| New | +$27.4M |
2026 Q1
0 quarters
|
|
60
DELISTED
Tri Pointe Homes
TPH
| $13.7M | 0.1% |
+294,100
| New | +$12M |
2026 Q1
0 quarters
|
|
61
PUT
JPMorgan Chase
JPM
$889B
| $12.8M | 0.09% |
43,600
-200
| -0.5% | -$60.7K |
2024 Q1
8 quarters
|
|
62
Apple
AAPL
$4.98T
| $12.8M | 0.09% |
50,323
-259,420
| -84% | -$67.5M |
2023 Q3
10 quarters
|
|
63
PUT
Micron Technology
MU
$1.12T
| $12.2M | 0.09% |
36,100
+31,100
| +622% | +$12.2M |
2025 Q1
4 quarters
|
|
64
PUT
Advanced Micro Devices
AMD
$970B
| $12M | 0.09% |
59,000
+26,500
| +82% | +$5.66M |
2022 Q1
16 quarters
|
|
65
Broadcom
AVGO
$1.69T
| $11.6M | 0.08% |
37,485
+35,038
| +1,432% | +$11.5M |
2025 Q3
2 quarters
|
|
66
DELISTED
Janus Henderson
JHG
| $11.6M | 0.08% |
+225,417
| New | +$11.2M |
2026 Q1
0 quarters
|
|
67
PPL Corp
PPL
$25.8B
| $11.5M | 0.08% |
+450,000
| New | +$16.6M |
2026 Q1
0 quarters
|
|
|
68
CALL
Apple
AAPL
$4.98T
| $11.4M | 0.08% |
45,000
+5,500
| +14% | +$1.43M |
2025 Q1
4 quarters
|
|
|
PKST
69
DELISTED
Peakstone Realty Trust
PKST
| $11.1M | 0.08% |
+531,511
| New | +$9.93M |
2026 Q1
0 quarters
|
|
70
CALL
State Street Energy Select Sector SPDR ETF
XLE
$42.5B
| $11M | 0.08% |
+180,000
| New | +$9.66M |
2026 Q1
0 quarters
|
|
71
CALL
iShares China Large-Cap ETF
FXI
$3.93B
| $10.6M | 0.08% |
+295,700
| New | +$11.2M |
2026 Q1
0 quarters
|
|
72
PUT
Home Depot
HD
$290B
| $10.4M | 0.07% |
31,500
+14,300
| +83% | +$5.21M |
2024 Q1
8 quarters
|
|
73
CALL
ZIM Integrated Shipping Services
ZIM
$3.72B
| $10.2M | 0.07% |
+388,400
| New | +$9.67M |
2026 Q1
0 quarters
|
|
74
DELISTED
Webster Financial
WBS
| $10.1M | 0.07% |
+145,990
| New | +$9.99M |
2026 Q1
0 quarters
|
|
75
International Money Express
IMXI
$328M
| $9.96M | 0.07% |
+630,191
| New | +$9.85M |
2026 Q1
0 quarters
|
|
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Capula Management's Q1 2026 Portfolio in Review
As of Q1 2026, Capula Management held 1,232 positions worth $14.1B, down 30% from $20B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Capula Management withdrew a net $3.39B in Q1 2026, closing 164 positions and reducing 280 holdings. Its most notable exit was iShares Bitcoin Trust, an estimated $471M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 91% of assets, up from 87% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Capula Management opened a new position in Penumbra worth $33.4M.
- Capula Management's largest Q1 2026 buy was Penumbra: 101,779 shares worth $33.4M.
- Capula Management added most to iShares Core S&P 500 ETF in Q1 2026, an estimated $5.79B increase.
- Capula Management's biggest Q1 2026 reduction was Vanguard S&P 500 ETF, cutting an estimated $7.4B.
- Capula Management fully exited iShares Bitcoin Trust in Q1 2026, selling an estimated $471M.
- Capula Management's ten largest holdings make up 79% of its $14.1B portfolio in Q1 2026.
- Capula Management opened 420 new positions and closed 164 in Q1 2026.
- Capula Management's portfolio value fell 30% quarter-over-quarter to $14.1B.
Based on Capula Management's 13F filing for Q1 2026, filed 14 May 2026.