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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 | |
|---|---|---|---|---|---|---|---|
76
CALL
State Street SPDR S&P Regional Banking ETF
KRE
$3.28B
| $9.77M | 0.07% |
150,000
-650,000
| -81% | -$43.9M |
2025 Q3
2 quarters
|
|
77
CALL
NVIDIA
NVDA
$5.52T
| $9.68M | 0.07% |
55,500
-6,000
| -10% | -$1.1M |
2024 Q2
7 quarters
|
|
78
PUT
Eli Lilly
LLY
$1.04T
| $9.66M | 0.07% |
10,500
+1,200
| +13% | +$1.22M |
2024 Q2
7 quarters
|
|
79
PUT
Oracle
ORCL
$434B
| $9.46M | 0.07% |
64,300
+27,400
| +74% | +$4.45M |
2024 Q2
7 quarters
|
|
80
CALL
Microsoft
MSFT
$4.04T
| $9.22M | 0.07% |
24,900
+9,800
| +65% | +$4.1M |
2025 Q1
4 quarters
|
|
81
PUT
Costco
COST
$423B
| $9.17M | 0.07% |
9,200
+2,000
| +28% | +$1.95M |
2022 Q2
15 quarters
|
|
82
CALL
Alphabet (Google) Class A
GOOGL
$4.33T
| $9.12M | 0.06% |
31,700
+4,500
| +17% | +$1.41M |
2025 Q1
4 quarters
|
|
83
DELISTED
Enhabit
EHAB
| $9.09M | 0.06% |
+645,000
| New | +$7.72M |
2026 Q1
0 quarters
|
|
|
84
PUT
Alibaba
BABA
$276B
| $9.03M | 0.06% |
72,000
-1,856,000
| -96% | -$279M |
2025 Q3
2 quarters
|
|
|
85
Alphabet (Google) Class A
GOOGL
$4.33T
| $8.85M | 0.06% |
30,791
-375,131
| -92% | -$118M |
2020 Q3
22 quarters
|
|
86
PUT
ASML
ASML
$660B
| $8.85M | 0.06% |
6,700
+2,200
| +49% | +$3.01M |
2025 Q1
4 quarters
|
|
87
PUT
Lam Research
LRCX
$377B
| $8.82M | 0.06% |
41,300
-3,200
| -7% | -$715K |
2024 Q4
5 quarters
|
|
88
KraneShares CSI China Internet ETF
KWEB
$4.5B
| $8.45M | 0.06% |
297,080
+294,952
| +13,861% | +$9.66M |
2025 Q1
4 quarters
|
|
89
PUT
ExxonMobil
XOM
$716B
| $8.38M | 0.06% |
49,400
-822,700
| -94% | -$120M |
2024 Q2
7 quarters
|
|
90
PUT
Intel
INTC
$543B
| $8.28M | 0.06% |
187,600
+171,400
| +1,058% | +$7.86M |
2024 Q2
7 quarters
|
|
91
PUT
KLA
KLAC
$240B
| $7.95M | 0.06% |
54,000
+9,000
| +20% | +$1.32M |
2023 Q1
12 quarters
|
|
92
PUT
State Street SPDR S&P Biotech ETF
XBI
$9.71B
| $7.84M | 0.06% |
+61,400
| New | +$7.66M |
2026 Q1
0 quarters
|
|
93
iShares MSCI EAFE ETF
EFA
$76.8B
| $7.76M | 0.06% |
+79,930
| New | +$8M |
2026 Q1
0 quarters
|
|
94
PUT
Analog Devices
ADI
$201B
| $7.76M | 0.06% |
24,400
+14,300
| +142% | +$4.55M |
2024 Q2
7 quarters
|
|
95
PUT
Texas Instruments
TXN
$263B
| $7.69M | 0.05% |
39,600
+35,600
| +890% | +$7.21M |
2020 Q3
22 quarters
|
|
96
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.1B
| $7.53M | 0.05% |
+69,044
| New | +$7.61M |
2026 Q1
0 quarters
|
|
97
Meta Platforms (Facebook)
META
$1.94T
| $7.48M | 0.05% |
13,079
-50,575
| -79% | -$32.4M |
2025 Q3
2 quarters
|
|
98
PUT
Walmart Inc
WMT
$891B
| $7.46M | 0.05% |
60,000
-48,000
| -44% | -$5.89M |
2024 Q2
7 quarters
|
|
99
Micron Technology
MU
$1.08T
| $7.38M | 0.05% |
21,845
+14,761
| +208% | +$5.78M |
2025 Q3
2 quarters
|
|
100
State Street Communication Services Select Sector SPDR ETF
XLC
$23.9B
| $7.24M | 0.05% |
+65,292
| New | +$7.56M |
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.