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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
+0.74%
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
$20B
AUM Growth
-$124M
Cap. Flow
+$329M
Cap. Flow %
1.65%
Top 10 Hldgs %
68.14%
Holding
948
New
155
Increased
289
Reduced
312
Closed
138

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$7.4B
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.76B
3
IBM icon
IBM
IBM
+$204M
4
BABA icon
Alibaba
BABA
+$169M
5
UBER icon
Uber
UBER
+$111M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$6.67B
2
MSTR icon
Strategy Inc
MSTR
+$375M
3
UNH icon
UnitedHealth
UNH
+$326M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$279M
5
AMAT icon
Applied Materials
AMAT
+$122M

Sector Composition

Rank Sector Weight
1 Technology 4.56%
2 Consumer Discretionary 2.07%
3 Communication Services 2.06%
4 Financials 1.46%
5 Industrials 0.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASML icon
151
PUT
ASML
ASML
$686B
$4.81M 0.02%
4,500
– –
AMAT icon
152
CALL
Applied Materials
AMAT
$441B
$4.75M 0.02%
18,500
+600
+3% +$144K
PG icon
153
PUT
Procter & Gamble
PG
$341B
$4.63M 0.02%
32,300
-19,500
-38% -$2.88M
AMZN icon
154
CALL
Amazon
AMZN
$2.52T
$4.41M 0.02%
19,100
-11,200
-37% -$2.56M
ASML icon
155
CALL
ASML
ASML
$686B
$4.39M 0.02%
4,100
– –
ULTA icon
156
CALL
Ulta Beauty
ULTA
$20.6B
$4.24M 0.02%
7,000
– –
INTC icon
157
CALL
Intel
INTC
$495B
$4.09M 0.02%
110,900
-196,700
-64% -$7.43M
EMB icon
158
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$4.09M 0.02%
42,482
+15,653
+58% +$1.5M
ADI icon
159
CALL
Analog Devices
ADI
$184B
$3.99M 0.02%
14,700
-1,700
-10% -$427K
SLB icon
160
PUT
SLB Ltd
SLB
$75.7B
$3.95M 0.02%
102,800
-48,900
-32% -$1.77M
PDD icon
161
Pinduoduo
PDD
$118B
$3.91M 0.02%
34,442
+33,442
+3,344% +$4.15M
META icon
162
CALL
Meta Platforms (Facebook)
META
$1.54T
$3.76M 0.02%
5,700
-5,400
-49% -$3.61M
BIIB icon
163
Biogen
BIIB
$29.8B
$3.75M 0.02%
21,295
+11,087
+109% +$1.81M
REVG
164
DELISTED
REV Group
REVG
$3.63M 0.02%
+59,672
New +$3.35M
QCOM icon
165
CALL
Qualcomm
QCOM
$179B
$3.57M 0.02%
20,900
-2,900
-12% -$497K
MS icon
166
CALL
Morgan Stanley
MS
$337B
$3.57M 0.02%
20,100
-12,100
-38% -$2.02M
TSLA icon
167
CALL
Tesla
TSLA
$1.26T
$3.42M 0.02%
7,600
-14,900
-66% -$6.6M
JAMF
168
DELISTED
Jamf
JAMF
$3.38M 0.02%
+260,000
New +$3.16M
INDA icon
169
iShares MSCI India ETF
INDA
$6.71B
$3.3M 0.02%
61,100
– –
CMI icon
170
Cummins
CMI
$91.8B
$3.2M 0.02%
6,274
+1,448
+30% +$677K
PDD icon
171
CALL
Pinduoduo
PDD
$118B
$3.11M 0.02%
27,400
-15,000
-35% -$1.86M
CDE icon
172
Coeur Mining
CDE
$15.8B
$3.07M 0.02%
+172,107
New +$2.99M
NWE icon
173
NorthWestern Energy
NWE
$4.49B
$3M 0.02%
46,512
+10,734
+30% +$680K
CWAN
174
DELISTED
Clearwater Analytics
CWAN
$3M 0.02%
+124,360
New +$2.49M
TXN icon
175
CALL
Texas Instruments
TXN
$258B
$2.98M 0.01%
17,200
+700
+4% +$120K
5 6
7
8 9

Similar funds

X
Xponance Philadelphia, Pennsylvania $14.1B AUM 30.11% 1-Year Est. Return
BIP
Brandes Investment Partners La Jolla, California $14.1B AUM 25.52% 1-Year Est. Return
FGP
Freestone Grove Partners San Francisco, California $14.2B AUM 24.58% 1-Year Est. Return
TI
Trexquant Investment Stamford, Connecticut $13.9B AUM 31.98% 1-Year Est. Return
SSA
Schonfeld Strategic Advisors New York $14.2B AUM 37.17% 1-Year Est. Return
SAM
Silvercrest Asset Management New York $13.8B AUM 28.39% 1-Year Est. Return
BBVA
Banco Bilbao Vizcaya Argentaria Madrid, Spain $14.3B AUM 26.23% 1-Year Est. Return
IFP
Independent Franchise Partners London, United Kingdom $14.3B AUM 3.49% 1-Year Est. Return

Capula Management's Q4 2025 Portfolio in Review

As of Q4 2025, Capula Management held 948 positions worth $20B, down 0.62% from $20.1B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Capula Management's Q4 2025 filing shows 155 new, 289 increased, 312 reduced and 138 closed positions. Its largest new stake was Alphabet (Google) Class C: 160,000 shares worth $50.2M. The largest sale was iShares Core S&P 500 ETF, an estimated $6.67B.

By sector, the portfolio is most concentrated in Technology at 4.6% of assets, down from 6.3% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Capula Management's largest Q4 2025 buy was Alphabet (Google) Class C: 160,000 shares worth $50.2M.
  • Capula Management added most to Vanguard S&P 500 ETF in Q4 2025, an estimated $7.4B increase.
  • Capula Management's biggest Q4 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $6.67B.
  • Capula Management fully exited UnitedHealth in Q4 2025, selling an estimated $326M.
  • Capula Management's ten largest holdings make up 68% of its $20B portfolio in Q4 2025.
  • Capula Management opened 155 new positions and closed 138 in Q4 2025.
  • Capula Management's portfolio value fell 0.62% quarter-over-quarter to $20B.

Based on Capula Management's 13F filing for Q4 2025, filed 13 Feb 2026.