We are live on !
Find out more
Capula Management Portfolio holdings
AUM
$28B
Turnover
51.43%
1-Year Est. Return
22.67%
This Fund
S&P 500
This Quarter Est. Return
+12.86%
1 Year Est. Return
+22.67%
3 Year Est. Return
+90.67%
5 Year Est. Return
+93.79%
10 Year Est. Return
+167.7%
AUM
$10.8B
AUM Growth
-$7.21B
(-40%)
Cap. Flow
-$6.62B
Cap. Flow % of AUM
Cap. Flow %
-61.46%
Top 10 Holdings %
Top 10 Hldgs %
86.03%
Holding
894
New
215
Increased
99
Reduced
276
Closed
265
Avg Time Held
Equity + Options
0.5
years
Top 10 Avg Time Held
Equity + Options
0.5
years
Top 20 Avg Time Held
Equity + Options
0.3
years
Avg Time Held Equity only
0.4
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.3
years
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 |
iShares Ethereum Trust ETF
ETHA
|
+$58.9M |
| 5 |
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 | Miscellaneous | 97.12% |
| 2 | Communication Services | 0.58% |
| 3 | Financials | 0.52% |
| 4 | Consumer Discretionary | 0.38% |
| 5 | Consumer Staples | 0.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares Core S&P 500 ETF
IVV
$875B
| $4.75B | 44.18% |
7,658,145
-7,720,982
| -50% | -$4.43B |
2025 Q1
1 quarter
|
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $1.97B | 18.28% |
3,185,123
+1,010,844
| +46% | +$578M |
2018 Q3
27 quarters
|
|
|
3
CALL
Invesco QQQ Trust
QQQ
$461B
| $808M | 7.51% |
1,465,000
+1,087,100
| +288% | +$541M |
2023 Q1
9 quarters
|
|
|
4
iShares Bitcoin Trust
IBIT
$55.2B
| $580M | 5.39% |
9,481,233
+1,739,073
| +22% | +$97.4M |
2024 Q2
4 quarters
|
|
|
5
PUT
Invesco QQQ Trust
QQQ
$461B
| $361M | 3.36% |
655,000
+295,200
| +82% | +$147M |
2019 Q2
24 quarters
|
|
6
PUT
VanEck Semiconductor ETF
SMH
$63B
| $189M | 1.76% |
677,700
+232,700
| +52% | +$54M |
2025 Q1
1 quarter
|
|
|
7
CALL
VanEck Semiconductor ETF
SMH
$63B
| $165M | 1.54% |
592,700
+352,700
| +147% | +$81.8M |
2025 Q1
1 quarter
|
|
|
8
Invesco QQQ Trust
QQQ
$461B
| $147M | 1.37% |
266,518
+226,842
| +572% | +$113M |
2021 Q4
14 quarters
|
|
9
CALL
iShares MSCI Emerging Markets ETF
EEM
$28.2B
| $145M | 1.35% |
3,007,100
+657,100
| +28% | +$29.5M |
2023 Q4
6 quarters
|
|
|
10
Fidelity Wise Origin Bitcoin Fund
FBTC
$12.8B
| $141M | 1.31% |
1,497,174
-2,801,938
| -65% | -$241M |
2024 Q2
4 quarters
|
|
11
CALL
iShares Russell 2000 ETF
IWM
$77.1B
| $104M | 0.96% |
+480,000
| New | +$96.6M |
2025 Q2
0 quarters
|
|
|
12
iShares Ethereum Trust ETF
ETHA
$5.87B
| $102M | 0.95% |
1,784,933
+1,180,836
| +195% | +$58.9M |
2025 Q1
1 quarter
|
|
13
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $101M | 0.94% |
1,250,000
-750,000
| -38% | -$59.1M |
2025 Q1
1 quarter
|
|
|
14
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $91.4M | 0.85% |
148,000
+28,400
| +24% | +$16.2M |
2024 Q2
4 quarters
|
|
15
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.72B
| $72.3M | 0.67% |
+1,216,600
| New | +$67.7M |
2025 Q2
0 quarters
|
|
16
CALL
iShares Silver Trust
SLV
$23.8B
| $51.5M | 0.48% |
1,570,000
+520,000
| +50% | +$15.9M |
2025 Q1
1 quarter
|
|
17
CALL
SPDR Gold Trust
GLD
$130B
| $45.7M | 0.42% |
150,000
+50,000
| +50% | +$15.1M |
2025 Q1
1 quarter
|
|
18
Fidelity Ethereum Fund
FETH
$1.05B
| $45.2M | 0.42% |
1,796,196
+128,050
| +8% | +$2.81M |
2025 Q1
1 quarter
|
|
|
19
DELISTED
Kellanova
K
| $32.6M | 0.3% |
410,000
+343,595
| +517% | +$28.1M |
2024 Q3
3 quarters
|
|
20
PUT
Broadcom
AVGO
$1.74T
| $26.1M | 0.24% |
94,800
-253,800
| -73% | -$55.1M |
2022 Q1
13 quarters
|
|
|
21
CALL
Broadcom
AVGO
$1.74T
| $20.3M | 0.19% |
73,500
-40,100
| -35% | -$8.71M |
2025 Q1
1 quarter
|
|
|
22
iShares MSCI Emerging Markets ETF
EEM
$28.2B
| $20.2M | 0.19% |
418,786
+343,128
| +454% | +$15.4M |
2025 Q1
1 quarter
|
|
23
DELISTED
Blueprint Medicines
BPMC
| $20M | 0.19% |
+156,114
| New | +$16.2M |
2025 Q2
0 quarters
|
|
24
DELISTED
Frontier Communications
FYBR
| $20M | 0.19% |
549,470
+131,470
| +31% | +$4.77M |
2024 Q3
3 quarters
|
|
25
CALL
iShares China Large-Cap ETF
FXI
$3.84B
| $18.4M | 0.17% |
500,000
+50,000
| +11% | +$1.75M |
2024 Q1
5 quarters
|
|
Similar funds
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 $6.62B 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 Miscellaneous at 97% of assets, up from 85% a quarter earlier, followed by Communication Services and Financials.
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.