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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
BMY icon
176
PUT
Bristol-Myers Squibb
BMY
$127B
$2.96M 0.01%
54,800
+47,600
+661% +$2.29M
MS icon
177
Morgan Stanley
MS
$337B
$2.92M 0.01%
16,453
+13,986
+567% +$2.33M
RDDT icon
178
Reddit
RDDT
$32.8B
$2.91M 0.01%
12,667
+103
+0.8% +$21.7K
HOOD icon
179
CALL
Robinhood
HOOD
$85.2B
$2.83M 0.01%
25,000
+13,600
+119% +$1.77M
HOOD icon
180
PUT
Robinhood
HOOD
$85.2B
$2.83M 0.01%
25,000
+3,600
+17% +$468K
GM icon
181
PUT
General Motors
GM
$75.4B
$2.79M 0.01%
34,300
+30,700
+853% +$2.16M
NEE icon
182
PUT
NextEra Energy
NEE
$187B
$2.75M 0.01%
34,300
-5,000
-13% -$414K
ADI icon
183
PUT
Analog Devices
ADI
$181B
$2.74M 0.01%
10,100
-10,700
-51% -$2.69M
DELL icon
184
CALL
Dell
DELL
$285B
$2.73M 0.01%
21,700
+20,000
+1,176% +$2.82M
CNA icon
185
CNA Financial
CNA
$14.4B
$2.7M 0.01%
56,511
-53,018
-48% -$2.44M
DKNG icon
186
DraftKings
DKNG
$11.6B
$2.69M 0.01%
77,931
+31,320
+67% +$1.03M
CVX icon
187
PUT
Chevron
CVX
$389B
$2.67M 0.01%
17,500
-48,400
-73% -$7.37M
SUI icon
188
Sun Communities
SUI
$15B
$2.66M 0.01%
+21,451
New +$2.68M
STE icon
189
Steris
STE
$21B
$2.64M 0.01%
10,432
+2,302
+28% +$578K
HUM icon
190
PUT
Humana
HUM
$47.2B
$2.64M 0.01%
+10,300
New +$2.7M
HTO
191
H2O America
HTO
$2.69B
$2.62M 0.01%
53,476
+12,340
+30% +$592K
CMCSA icon
192
Comcast
CMCSA
$80B
$2.59M 0.01%
92,534
+74,614
+416% +$2.13M
HUM icon
193
CALL
Humana
HUM
$47.2B
$2.59M 0.01%
+10,100
New +$2.65M
MRVL icon
194
CALL
Marvell Technology
MRVL
$177B
$2.55M 0.01%
+30,000
New +$2.63M
MRVL icon
195
PUT
Marvell Technology
MRVL
$177B
$2.55M 0.01%
30,000
-20,000
-40% -$1.75M
GL icon
196
Globe Life
GL
$13.5B
$2.55M 0.01%
18,208
+4,202
+30% +$569K
HAL icon
197
CALL
Halliburton
HAL
$27.8B
$2.54M 0.01%
+90,000
New +$2.38M
HAL icon
198
PUT
Halliburton
HAL
$27.8B
$2.54M 0.01%
+90,000
New +$2.38M
GM icon
199
CALL
General Motors
GM
$75.4B
$2.54M 0.01%
31,200
+29,300
+1,542% +$2.07M
THG icon
200
Hanover Insurance
THG
$7.62B
$2.46M 0.01%
13,434
+3,100
+30% +$557K
6 7
8
9 10

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X
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BIP
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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.