CM

Capula Management Portfolio holdings

AUM $28B Turnover 51.43%
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
Cap. Flow
-$3.39B
Cap. Flow %
-24.11%
Top 10 Hldgs %
79.37%
Holding
1,232
New
420
Increased
312
Reduced
280
Closed
164
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.5 years
Top 10 Avg Time Held Equity only
0.6 years
Top 20 Avg Time Held Equity only
0.3 years

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$5.79B
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$338M
3
CWAN icon
Clearwater Analytics
CWAN
+$60.4M
4
FOLD icon
Amicus Therapeutics
FOLD
+$45.3M
5
AES icon
AES
AES
+$36.7M

Top Sells

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$7.4B
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$471M
3
ETHA icon
iShares Ethereum Trust ETF
ETHA
+$207M
4
BABA icon
Alibaba
BABA
+$201M
5
IBM icon
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
SUI icon
1201
Sun Communities
SUI
$13.9B
– –
-21,451
Closed -$2.66M –
T icon
1202
AT&T
T
$158B
– –
-18,538
Closed -$495K –
TECK icon
1203
CALL
Teck Resources
TECK
$31.8B
– –
-123,300
Closed -$5.9M –
TGT icon
1204
Target
TGT
$70.6B
– –
-993
Closed -$112K –
THD icon
1205
iShares MSCI Thailand ETF
THD
$424M
– –
-4,108
Closed -$245K –
THG icon
1206
Hanover Insurance
THG
$7.88B
– –
-13,434
Closed -$2.46M –
TLT icon
1207
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$49B
– –
-200,000
Closed -$17.4M –
TRV icon
1208
Travelers Companies
TRV
$78.8B
– –
-7,835
Closed -$2.3M –
ULTA icon
1209
CALL
Ulta Beauty
ULTA
$25.3B
– –
-7,000
Closed -$4.24M –
USB icon
1210
US Bancorp
USB
$87.7B
– –
-177
Closed -$9.73K –
VMI icon
1211
Valmont Industries
VMI
$8.98B
– –
-546
Closed -$220K –
VRT icon
1212
Vertiv
VRT
$85.8B
– –
-62,511
Closed -$10.1M –
VZ icon
1213
Verizon
VZ
$185B
– –
-9,262
Closed -$429K –
WBD icon
1214
CALL
DELISTED
Warner Bros
WBD
– –
-3,400
Closed -$98K –
WDAY icon
1215
CALL
Workday
WDAY
$45.5B
– –
-600
Closed -$129K –
WDAY icon
1216
Workday
WDAY
$45.5B
– –
-54
Closed -$11.6K –
WDAY icon
1217
PUT
Workday
WDAY
$45.5B
– –
-400
Closed -$85.9K –
XLV icon
1218
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$45B
– –
-200
Closed -$31K –
XME icon
1219
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$3.96B
– –
-400,000
Closed -$41.4M –
Z icon
1220
PUT
Zillow
Z
$6.37B
– –
-3,900
Closed -$266K –
ZM icon
1221
CALL
Zoom
ZM
$27.6B
– –
-2,300
Closed -$198K –
DAY icon
1222
DELISTED
Dayforce
DAY
– –
-532,716
Closed -$36.8M –
VIK icon
1223
Viking Holdings
VIK
$36.9B
– –
-2,923
Closed -$209K –
ETHA icon
1224
iShares Ethereum Trust ETF
ETHA
$8.58B
– –
-3,075,809
Closed -$207M –
FETH icon
1225
Fidelity Ethereum Fund
FETH
$1.31B
– –
-2,074,703
Closed -$61.4M –
46 47 48
49
50

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SSA
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UIM
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Jacobs Levy Equity Management
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CAM
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Fiera Capital (Canada)
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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.