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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
BA icon
801
Boeing
BA
$165B
$8.9K ﹤0.01%
41
-887
-96% -$182K
SMCI icon
802
CALL
Super Micro Computer
SMCI
$20.2B
$8.78K ﹤0.01%
+300
New +$12.4K
UNP icon
803
Union Pacific
UNP
$181B
$7.87K ﹤0.01%
34
-502
-94% -$115K
BLK icon
804
Blackrock
BLK
$161B
$7.49K ﹤0.01%
7
-151
-96% -$165K
TT icon
805
Trane Technologies
TT
$106B
$4.67K ﹤0.01%
+12
New +$4.96K
AES icon
806
CALL
AES
AES
$10.6B
$2.87K ﹤0.01%
200
-6,100
-97% -$86K
MCO icon
807
Moody's
MCO
$82.5B
$2.04K ﹤0.01%
+4
New +$1.95K
ABNB icon
808
Airbnb
ABNB
$81.6B
– –
-2,594
Closed -$323K
ADI icon
809
Analog Devices
ADI
$185B
– –
-3,071
Closed -$772K
AEP icon
810
American Electric Power
AEP
$73.4B
– –
-98
Closed -$11.6K
AMD icon
811
Advanced Micro Devices
AMD
$880B
– –
-17,905
Closed -$4.02M
AMP icon
812
Ameriprise Financial
AMP
$46.8B
– –
-25,100
Closed -$11.9M
AMRX icon
813
Amneal Pharmaceuticals
AMRX
$5.74B
– –
-145,300
Closed -$1.45M
ANET icon
814
Arista Networks
ANET
$222B
– –
-332
Closed -$45.7K
ARKK icon
815
ARK Innovation ETF
ARKK
$6.05B
– –
-7,872
Closed -$652K
ARKK icon
816
PUT
ARK Innovation ETF
ARKK
$6.05B
– –
-20,000
Closed -$1.73M
ASHR icon
817
CALL
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.37B
– –
-600,000
Closed -$19.8M
ASHR icon
818
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.37B
– –
-46,096
Closed -$1.52M
AXON
819
CALL
Axon Enterprise
AXON
$39.6B
– –
-300
Closed -$215K
AXON
820
Axon Enterprise
AXON
$39.6B
– –
-278
Closed -$200K
AXON
821
PUT
Axon Enterprise
AXON
$39.6B
– –
-1,000
Closed -$718K
AXP icon
822
American Express
AXP
$233B
– –
-774
Closed -$277K
AZO icon
823
CALL
AutoZone
AZO
$47.7B
– –
-200
Closed -$858K
BABA icon
824
CALL
Alibaba
BABA
$273B
– –
-114,000
Closed -$20.4M
BATRK icon
825
Atlanta Braves Holdings Series B
BATRK
$3.21B
– –
-23,498
Closed -$977K
31 32
33
34 35

Similar funds

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.