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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 | |
|---|---|---|---|---|---|---|
151
Alerian MLP ETF
AMLP
$13B
| $1.43M | 0.01% |
29,345
+22,545
| +332% | +$1.09M |
|
152
PayPal
PYPL
$49.5B
| $1.41M | 0.01% |
18,977
-15,980
| -46% | -$1.09M |
|
153
Ares Management
ARES
$28.5B
| $1.36M | 0.01% |
7,850
-38,481
| -83% | -$6.09M |
|
154
CVS Health
CVS
$137B
| $1.34M | 0.01% |
19,485
+17,911
| +1,138% | +$1.17M |
|
155
iShares MSCI Brazil ETF
EWZ
$9.05B
| $1.31M | 0.01% |
+45,570
| New | +$1.23M |
|
156
State Street Materials Select Sector SPDR ETF
XLB
$8.51B
| $1.31M | 0.01% |
+29,920
| New | +$1.27M |
|
157
Triple Flag Precious Metals
TFPM
$6B
| $1.25M | 0.01% |
+38,800
| New | +$850K |
|
158
PUT
Datadog
DDOG
$87.9B
| $1.25M | 0.01% |
9,300
-18,500
| -67% | -$2.05M |
|
159
CALL
Tesla
TSLA
$1.24T
| $1.24M | 0.01% |
3,900
-88,600
| -96% | -$26.7M |
|
160
CALL
United Parcel Service
UPS
$97.6B
| $1.21M | 0.01% |
+12,000
| New | +$1.18M |
|
161
PUT
Verizon
VZ
$194B
| $1.2M | 0.01% |
27,800
-5,600
| -17% | -$243K |
|
162
Marvell Technology
MRVL
$174B
| $1.2M | 0.01% |
15,500
+830
| +6% | +$51.8K |
|
|
SAND
163
DELISTED
Sandstorm Gold
SAND
| $1.19M | 0.01% |
+93,100
| New | +$797K |
|
164
PUT
Mastercard
MA
$477B
| $1.18M | 0.01% |
2,100
-400
| -16% | -$221K |
|
165
CALL
Booking.com
BKNG
$138B
| $1.16M | 0.01% |
5,000
+2,500
| +100% | +$512K |
|
|
NGD
166
DELISTED
New Gold Inc
NGD
| $1.15M | 0.01% |
+170,100
| New | +$699K |
|
167
Whirlpool
WHR
$2.42B
| $1.15M | 0.01% |
+11,315
| New | +$941K |
|
168
PUT
ExxonMobil
XOM
$651B
| $1.14M | 0.01% |
10,600
-803,000
| -99% | -$85.8M |
|
169
PUT
Walmart Inc
WMT
$871B
| $1.12M | 0.01% |
11,500
-7,600
| -40% | -$724K |
|
170
Fortuna Silver Mines
FSM
$2.59B
| $1.1M | 0.01% |
+123,200
| New | +$763K |
|
|
MAG
171
DELISTED
MAG Silver
MAG
| $1.09M | 0.01% |
+37,800
| New | +$672K |
|
172
PUT
Oracle
ORCL
$331B
| $1.09M | 0.01% |
5,000
-26,500
| -84% | -$4.28M |
|
173
PUT
Costco
COST
$415B
| $1.09M | 0.01% |
1,100
-96,200
| -99% | -$95.6M |
|
174
Netflix
NFLX
$292B
| $1.08M | 0.01% |
8,040
-1,150
| -13% | -$130K |
|
175
KraneShares CSI China Internet ETF
KWEB
$5.2B
| $1.05M | 0.01% |
30,655
-15,641
| -34% | -$518K |
|
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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.