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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
VOO icon
1
Vanguard S&P 500 ETF
VOO
$974B
$7.47B 37.4%
11,903,616
+11,902,816
+1,487,852% +$7.4B
SPY icon
2
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$3.86B 19.34%
5,662,177
+2,609,063
+85% +$1.76B
IBIT icon
3
iShares Bitcoin Trust
IBIT
$47B
$471M 2.36%
9,481,233
-676
-0% -$38.4K
IVV icon
4
iShares Core S&P 500 ETF
IVV
$881B
$422M 2.12%
616,758
-9,817,612
-94% -$6.67B
BABA icon
5
PUT
Alibaba
BABA
$276B
$283M 1.42%
1,928,000
+804,200
+72% +$131M
SMH icon
6
PUT
VanEck Semiconductor ETF
SMH
$67.5B
$278M 1.39%
771,100
+353,400
+85% +$124M
BABA icon
7
Alibaba
BABA
$276B
$212M 1.06%
1,449,316
+1,040,688
+255% +$169M
ETHA
8
iShares Ethereum Trust ETF
ETHA
$5.09B
$207M 1.04%
9,227,427
+358,942
+4% +$9.39M
IBM icon
9
PUT
IBM
IBM
$200B
$203M 1.01%
683,800
+677,300
+10,420% +$203M
IBM icon
10
IBM
IBM
$200B
$202M 1.01%
681,074
+680,054
+66,672% +$204M
GOOGL icon
11
PUT
Alphabet (Google) Class A
GOOGL
$4.23T
$192M 0.96%
614,000
+381,100
+164% +$109M
QQQ icon
12
CALL
Invesco QQQ Trust
QQQ
$466B
$190M 0.95%
310,000
-735,000
-70% -$451M
UBER icon
13
PUT
Uber
UBER
$147B
$186M 0.93%
2,272,400
+1,198,600
+112% +$108M
UBER icon
14
Uber
UBER
$147B
$185M 0.93%
2,265,665
+1,233,137
+119% +$111M
EEM icon
15
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
$169M 0.84%
3,082,600
+1,932,600
+168% +$105M
META icon
16
PUT
Meta Platforms (Facebook)
META
$1.64T
$164M 0.82%
248,800
+190,100
+324% +$127M
FBTC icon
17
Fidelity Wise Origin Bitcoin Fund
FBTC
$11.9B
$161M 0.81%
2,112,794
– –
AAPL icon
18
PUT
Apple
AAPL
$4.9T
$157M 0.78%
576,300
-198,000
-26% -$53.2M
GOOGL icon
19
Alphabet (Google) Class A
GOOGL
$4.23T
$127M 0.64%
405,922
+368,590
+987% +$105M
NVDA icon
20
PUT
NVIDIA
NVDA
$4.91T
$116M 0.58%
620,900
-304,700
-33% -$56.7M
QCOM icon
21
PUT
Qualcomm
QCOM
$181B
$115M 0.58%
673,000
+629,500
+1,447% +$108M
QCOM icon
22
Qualcomm
QCOM
$181B
$111M 0.56%
650,000
+643,712
+10,237% +$110M
XOM icon
23
PUT
ExxonMobil
XOM
$611B
$105M 0.53%
872,100
+784,600
+897% +$91M
SLV icon
24
PUT
iShares Silver Trust
SLV
$27.1B
$102M 0.51%
1,581,300
+1,081,300
+216% +$54.1M
SPY icon
25
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$102M 0.51%
+149,100
New +$101M
1
2 3 4 5

Similar funds

X
Xponance Philadelphia, Pennsylvania $14.1B AUM 30.11% 1-Year Est. Return
ETC
Exchange Traded Concepts Oklahoma City, Oklahoma $14.1B AUM 25.71% 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
BPC
Banque Pictet & Cie Geneva 73, Switzerland $14.2B AUM 20.68% 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

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.