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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
+12.86%
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
$10.8B
AUM Growth
-$7.21B
(-40%)
Cap. Flow
-$9.02B
Cap. Flow
% of AUM
-83.79%
Top 10 Holdings %
Top 10 Hldgs %
86.03%
Holding
894
New
215
Increased
99
Reduced
276
Closed
265
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$578M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$113M |
| 3 |
iShares Bitcoin Trust
IBIT
|
+$97.4M |
| 4 |
ETHA
iShares Ethereum Trust ETF
ETHA
|
+$58.9M |
| 5 |
K
Kellanova
K
|
+$28.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$4.43B |
| 2 |
NVIDIA
NVDA
|
+$693M |
| 3 |
Strategy Inc
MSTR
|
+$473M |
| 4 |
Fidelity Wise Origin Bitcoin Fund
FBTC
|
+$241M |
| 5 |
Uber
UBER
|
+$169M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 0.58% |
| 2 | Financials | 0.52% |
| 3 | Consumer Discretionary | 0.38% |
| 4 | Consumer Staples | 0.33% |
| 5 | Healthcare | 0.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
| $2.21M | 0.02% |
+25,000
| New | +$2.18M |
|
127
CALL
Qualcomm
QCOM
$176B
| $2.2M | 0.02% |
13,800
-100,900
| -88% | -$14.9M |
|
128
Liberty Broadband Class C
LBRDK
$4.15B
| $2.2M | 0.02% |
23,846
-15,144
| -39% | -$1.36M |
|
129
CALL
American International
AIG
$41.9B
| $2.19M | 0.02% |
+25,600
| New | +$2.13M |
|
130
State Street SPDR S&P Dividend ETF
SDY
$21.9B
| $2.16M | 0.02% |
+15,896
| New | +$2.11M |
|
131
Global X Copper Miners ETF NEW
COPX
$7.13B
| $2.07M | 0.02% |
45,974
-27,155
| -37% | -$1.08M |
|
132
PUT
JPMorgan Chase
JPM
$939B
| $2.06M | 0.02% |
7,100
-3,300
| -32% | -$842K |
|
133
iShares China Large-Cap ETF
FXI
$4.31B
| $2.04M | 0.02% |
55,493
-67,918
| -55% | -$2.38M |
|
|
FL
134
DELISTED
Foot Locker
FL
| $2.03M | 0.02% |
+83,000
| New | +$1.51M |
|
135
Bio-Rad Laboratories Class A
BIO
$8.42B
| $2M | 0.02% |
8,287
-819
| -9% | -$194K |
|
136
PUT
Chevron
CVX
$388B
| $1.99M | 0.02% |
13,900
-41,900
| -75% | -$5.91M |
|
137
CALL
Vale
VALE
$62.9B
| $1.94M | 0.02% |
+200,000
| New | +$1.88M |
|
138
CALL
Meta Platforms (Facebook)
META
$1.51T
| $1.92M | 0.02% |
2,600
-1,100
| -30% | -$680K |
|
139
United Airlines
UAL
$38.4B
| $1.91M | 0.02% |
+23,978
| New | +$1.77M |
|
140
Datadog
DDOG
$87.9B
| $1.87M | 0.02% |
13,900
-19,080
| -58% | -$2.11M |
|
141
PUT
Bank of America
BAC
$435B
| $1.81M | 0.02% |
38,200
-13,200
| -26% | -$555K |
|
142
CALL
MongoDB
MDB
$24B
| $1.78M | 0.02% |
+8,500
| New | +$1.57M |
|
|
143
PUT
MongoDB
MDB
$24B
| $1.78M | 0.02% |
+8,500
| New | +$1.57M |
|
|
144
CALL
Chevron
CVX
$388B
| $1.72M | 0.02% |
12,000
-1,800
| -13% | -$254K |
|
145
PUT
Carvana
CVNA
$43.3B
| $1.68M | 0.02% |
+25,000
| New | +$1.37M |
|
146
PUT
Home Depot
HD
$332B
| $1.54M | 0.01% |
4,200
-1,000
| -19% | -$362K |
|
147
PUT
Eli Lilly
LLY
$1.07T
| $1.48M | 0.01% |
1,900
-600
| -24% | -$466K |
|
148
PUT
Netflix
NFLX
$292B
| $1.47M | 0.01% |
11,000
-174,000
| -94% | -$19.7M |
|
149
PUT
Visa
V
$677B
| $1.46M | 0.01% |
4,100
-1,000
| -20% | -$349K |
|
150
VanEck Semiconductor ETF
SMH
$67.6B
| $1.45M | 0.01% |
5,208
-123,505
| -96% | -$28.6M |
|
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Capula Management's Q2 2025 Portfolio in Review
As of Q2 2025, Capula Management held 894 positions worth $10.8B, down 40% from $18B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Capula Management withdrew a net $9.02B in Q2 2025, closing 265 positions and reducing 276 holdings. Its most notable exit was NVIDIA, an estimated $693M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 0.58% of assets, down from 0.99% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Capula Management opened a new position in Blueprint Medicines worth $20M.
- Capula Management's largest Q2 2025 buy was Blueprint Medicines: 156,114 shares worth $20M.
- Capula Management added most to State Street SPDR S&P 500 ETF Trust in Q2 2025, an estimated $578M increase.
- Capula Management's biggest Q2 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $4.43B.
- Capula Management fully exited NVIDIA in Q2 2025, selling an estimated $693M.
- Capula Management's ten largest holdings make up 86% of its $10.8B portfolio in Q2 2025.
- Capula Management opened 215 new positions and closed 265 in Q2 2025.
- Capula Management's portfolio value fell 40% quarter-over-quarter to $10.8B.
Based on Capula Management's 13F filing for Q2 2025, filed 13 Aug 2025.