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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 | |
|---|---|---|---|---|---|---|---|
101
PUT
Chevron
CVX
$427B
| $7.2M | 0.05% |
34,800
+17,300
| +99% | +$3.15M |
2024 Q2
7 quarters
|
|
102
PUT
Johnson & Johnson
JNJ
$599B
| $7.14M | 0.05% |
29,200
-5,700
| -16% | -$1.33M |
2022 Q1
16 quarters
|
|
103
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $7.12M | 0.05% |
+89,555
| New | +$7.2M |
2026 Q1
0 quarters
|
|
104
Ferguson
FERG
$43.1B
| $7.11M | 0.05% |
+30,461
| New | +$7.41M |
2026 Q1
0 quarters
|
|
105
Alphabet (Google) Class C
GOOG
$4.27T
| $6.9M | 0.05% |
24,039
-135,961
| -85% | -$42.7M |
2025 Q4
1 quarter
|
|
106
PUT
Constellation Energy
CEG
$105B
| $6.84M | 0.05% |
24,500
-232,400
| -90% | -$70.6M |
2025 Q1
4 quarters
|
|
107
James Hardie Industries
JHX
$14.3B
| $6.62M | 0.05% |
+349,531
| New | +$7.86M |
2026 Q1
0 quarters
|
|
108
PUT
Visa
V
$744B
| $6.5M | 0.05% |
21,500
-5,300
| -20% | -$1.7M |
2024 Q1
8 quarters
|
|
109
DELISTED
Terns Pharmaceuticals
TERN
| $6.38M | 0.05% |
+120,976
| New | +$4.97M |
2026 Q1
0 quarters
|
|
110
PUT
McDonald's
MCD
$167B
| $6.37M | 0.05% |
20,500
+17,600
| +607% | +$5.61M |
2024 Q2
7 quarters
|
|
111
SharkNinja
SN
$26.6B
| $6.35M | 0.05% |
+59,973
| New | +$7.02M |
2026 Q1
0 quarters
|
|
112
TSMC
TSM
$2.31T
| $6.08M | 0.04% |
+17,984
| New | +$6.19M |
2026 Q1
0 quarters
|
|
113
Novanta Inc Units
NOVTU
$679M
| $5.89M | 0.04% |
220,000
| – | – |
2025 Q4
1 quarter
|
|
114
PUT
Cisco
CSCO
$454B
| $5.87M | 0.04% |
75,600
+58,400
| +340% | +$4.57M |
2024 Q2
7 quarters
|
|
115
DELISTED
Semrush
SEMR
| $5.83M | 0.04% |
488,521
+393,831
| +416% | +$4.68M |
2025 Q4
1 quarter
|
|
116
PUT
Synopsys
SNPS
$94.8B
| $5.71M | 0.04% |
14,400
+13,800
| +2,300% | +$6.24M |
2025 Q1
4 quarters
|
|
117
PUT
Salesforce
CRM
$196B
| $5.51M | 0.04% |
29,500
+26,400
| +852% | +$5.47M |
2024 Q2
7 quarters
|
|
118
PUT
Mastercard
MA
$530B
| $5.45M | 0.04% |
10,900
-2,600
| -19% | -$1.37M |
2024 Q2
7 quarters
|
|
119
ZIM Integrated Shipping Services
ZIM
$3.67B
| $5.44M | 0.04% |
+206,368
| New | +$5.14M |
2026 Q1
0 quarters
|
|
120
PUT
AbbVie
ABBV
$485B
| $5.44M | 0.04% |
25,000
-700
| -3% | -$155K |
2024 Q1
8 quarters
|
|
121
Valaris
VAL
$5.94B
| $5.43M | 0.04% |
+55,415
| New | +$4.32M |
2026 Q1
0 quarters
|
|
122
Oracle Corp Preferred Stock Series D
ORCL.PRD
| $5.36M | 0.04% |
+233,490
| New | +$11M |
2026 Q1
0 quarters
|
|
123
PUT
Qualcomm
QCOM
$189B
| $5.29M | 0.04% |
41,100
-631,900
| -94% | -$92.2M |
2024 Q2
7 quarters
|
|
124
PUT
TJX Companies
TJX
$156B
| $5.24M | 0.04% |
32,800
+27,900
| +569% | +$4.34M |
2024 Q4
5 quarters
|
|
125
Marvell Technology
MRVL
$242B
| $5.15M | 0.04% |
52,013
-72,321
| -58% | -$6.07M |
2024 Q2
7 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.