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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
ROKU icon
201
CALL
Roku
ROKU
$21.2B
$2.43M 0.01%
22,400
-23,200
-51% -$2.35M
AFRM icon
202
Affirm
AFRM
$24.2B
$2.42M 0.01%
32,541
+17,217
+112% +$1.24M
AFG icon
203
American Financial Group
AFG
$11.9B
$2.42M 0.01%
17,717
+3,393
+24% +$466K
NEE icon
204
CALL
NextEra Energy
NEE
$187B
$2.33M 0.01%
29,000
-100
-0.3% -$8.28K
ZM icon
205
Zoom
ZM
$25.6B
$2.3M 0.01%
26,662
+17,704
+198% +$1.49M
TRV icon
206
Travelers Companies
TRV
$80.8B
$2.27M 0.01%
7,835
+1,808
+30% +$509K
ETN icon
207
PUT
Eaton
ETN
$159B
$2.26M 0.01%
7,100
-5,700
-45% -$2.02M
CEG icon
208
CALL
Constellation Energy
CEG
$99.3B
$2.26M 0.01%
6,400
+200
+3% +$72.7K
JPM icon
209
CALL
JPMorgan Chase
JPM
$936B
$2.26M 0.01%
7,000
-107,800
-94% -$33.4M
SNPS icon
210
CALL
Synopsys
SNPS
$71.8B
$2.25M 0.01%
4,800
+100
+2% +$44.4K
PLYM
211
DELISTED
Plymouth Industrial REIT
PLYM
$2.23M 0.01%
+101,883
New +$2.24M
CVX icon
212
CALL
Chevron
CVX
$389B
$2.23M 0.01%
14,600
-3,000
-17% -$457K
UAL icon
213
United Airlines
UAL
$39B
$2.21M 0.01%
19,748
+3,514
+22% +$355K
ADSK icon
214
CALL
Autodesk
ADSK
$45.3B
$2.19M 0.01%
7,400
-5,500
-43% -$1.66M
F icon
215
CALL
Ford
F
$57.6B
$2.18M 0.01%
165,800
+3,100
+2% +$40K
CRWV
216
CoreWeave
CRWV
$41B
$2.16M 0.01%
30,125
+11,379
+61% +$1.15M
CDNS icon
217
CALL
Cadence Design Systems
CDNS
$91.8B
$2.13M 0.01%
6,800
+200
+3% +$65.3K
EQIX icon
218
CALL
Equinix
EQIX
$108B
$2.07M 0.01%
2,700
+100
+4% +$78.4K
F icon
219
PUT
Ford
F
$57.6B
$2.06M 0.01%
156,900
+3,100
+2% +$40K
ROKU icon
220
PUT
Roku
ROKU
$21.2B
$2.04M 0.01%
18,800
– –
MU icon
221
Micron Technology
MU
$1.06T
$2.02M 0.01%
7,084
+3,227
+84% +$740K
CPNG icon
222
Coupang
CPNG
$28.3B
$2.01M 0.01%
+85,134
New +$2.42M
SHOP icon
223
Shopify
SHOP
$148B
$1.99M 0.01%
12,359
-20,259
-62% -$3.25M
AMT icon
224
CALL
American Tower
AMT
$78.6B
$1.97M 0.01%
11,200
+400
+4% +$72.8K
PBR icon
225
Petrobras
PBR
$122B
$1.95M 0.01%
+164,470
New +$2.01M
7 8
9
10 11

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X
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BIP
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FGP
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TI
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SSA
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SAM
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BBVA
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IFP
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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.