Capula Management Ltd
13F Reported Value
ⓘ$28.0B
incl. option notional
Equity Holdings
ⓘ$22.8B
Option Notional
ⓘ$5.2B
$4.3B puts / $883.3M calls
Holdings
700
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
Capula Management Ltd disclosed 700 positions worth $28.0B in its Form 13F-HR for Q2 2026 — $22.8B in common stock plus $5.2B of put/call option positions (reported at underlying notional value, not premium at risk), followed by $SPY and $QQQ. During the quarter the fund opened 123 new positions and exited 489 — including a new stake in $WDC and a full exit from $CWAN. The portfolio is most concentrated in Other (83.5% of disclosed assets). All figures are sourced directly from Capula Management Ltd’s Form 13F-HR filing with the SEC under CIK 1557017.
AI Fund Analysis
Diversifying
$SPY
$BABA
$BA
$UBER
$KLAC
$ANET
$VRT
$CDNS
$TECKSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
ISHARES TR - CORE S&P500 ETF
—Quality
$15.0B20,051,540 sh- —
Quality
$3.4B4,595,409 sh - $378.3M513,700 sh
- $336.2M3,502,700 sh
- —
Quality
$320.9M3,343,509 sh - 53.9
Quality
$235.5M559,900 sh - 61.6
Quality
$209.3M966,900 sh - 61.6
Quality
$206.1M951,980 sh - $202.6M275,100 sh
- 80.7
Quality
$179.5M281,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES TR - CORE S&P500 ETF | — | $15.0B | 20,051,540 |
| SPDR S&P 500 ETF TRUST$SPY | — | $3.4B | 4,595,409 |
 INVESCO QQQ TRUST, SERIES 1$QQQPUT | — | $378.3M | 513,700 |
| Alibaba Group Holding Ltd$BABAPUT | — | $336.2M | 3,502,700 |
| Alibaba Group Holding Ltd$BABA | — | $320.9M | 3,343,509 |
 Tesla, Inc.$TSLAPUT | 53.9 | $235.5M | 559,900 |
| BOEING CO$BAPUT | 61.6 | $209.3M | 966,900 |
| BOEING CO$BA | 61.6 | $206.1M | 951,980 |
| INVESCO QQQ TRUST, SERIES 1$QQQCALL | — | $202.6M | 275,100 |
 WESTERN DIGITAL CORP$WDCPUT | 80.7 | $179.5M | 281,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Capula Management Ltd's 700 positions.
Showing top 10 of 700 holdings.
Sector Allocation
Other
$19.0B
Technology
$1.3B
Industrials
$1.0B
Consumer Discretionary
$424.2M
Financials
$279.4M
Healthcare
$218.8M
Communication Services
$177.8M
Materials
$143.7M
Top Holdings — Capula Management Ltd (Q2 2026)
Top 150 of 700 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | — | ISHARES TR - CORE S&P500 ETF | $15.0B | 66.0% | +120% | — |
| 2 | $SPY | SPDR S&P 500 ETF TRUST | $3.4B | 15.1% | -25% | — |
| 3 | $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $378.3M | — | +39% | — |
| 4 | $BABAPUT | Alibaba Group Holding Ltd | $336.2M | — | +4765% | — |
| 5 | $BABA | Alibaba Group Holding Ltd | $320.9M | 1.4% | +2819% | — |
| 6 | $TSLAPUT | Tesla, Inc. | $235.5M | — | +291% | 53.9 |
| 7 | $BAPUT | BOEING CO | $209.3M | — | +4335% | 61.6 |
| 8 | $BA | BOEING CO | $206.1M | 0.9% | NEW | 61.6 |
| 9 | $QQQCALL | INVESCO QQQ TRUST, SERIES 1 | $202.6M | — | +29% | — |
| 10 | $WDCPUT | WESTERN DIGITAL CORP | $179.5M | — | NEW | 80.7 |
| 11 | $WDC | WESTERN DIGITAL CORP | $179.0M | 0.8% | NEW | 80.7 |
| 12 | $SPYCALL | SPDR S&P 500 ETF TRUST | $162.2M | — | +237% | — |
| 13 | $UBERPUT | Uber Technologies, Inc | $159.5M | — | NEW | 73.5 |
| 14 | $UBER | Uber Technologies, Inc | $159.1M | 0.7% | NEW | 73.5 |
| 15 | $SPYPUT | SPDR S&P 500 ETF TRUST | $157.0M | — | +57% | — |
| 16 | — | ISHARES TR - IBOXX HI YD ETF | $153.0M | 0.7% | +2037% | — |
| 17 |  $INTCPUT | INTEL CORP | $151.3M | — | +478% | 45.6 |
| 18 | $INTC | INTEL CORP | $147.0M | 0.7% | +1229% | 45.6 |
| 19 |  $PDDPUT | PDD Holdings Inc. | $146.7M | — | +1165% | — |
| 20 | $PDD | PDD Holdings Inc. | $146.1M | 0.6% | NEW | — |
| 21 |  $WMTPUT | Walmart Inc. | $142.2M | — | +1993% | 60.2 |
| 22 | $WMT | Walmart Inc. | $142.0M | 0.6% | NEW | 60.2 |
| 23 | — | ISHARES TR - RUSSELL 2000 ETF | $134.9M | — | -23% | — |
| 24 |  $AVGOPUT | Broadcom Inc. | $121.2M | — | +214% | 84.5 |
| 25 | $AVGO | Broadcom Inc. | $117.7M | 0.5% | +731% | 84.5 |
| 26 | $TSLA | Tesla, Inc. | $113.7M | 0.5% | +442% | 53.9 |
| 27 |  $AMGNPUT | AMGEN INC | $108.7M | — | NEW | 79.2 |
| 28 | $AMGN | AMGEN INC | $108.7M | 0.5% | NEW | 79.2 |
| 29 |  $LIN | LINDE PLC | $103.9M | 0.5% | NEW | — |
| 30 | $LINPUT | LINDE PLC | $103.8M | — | NEW | — |
| 31 | — | ISHARES TR - IBOXX INV CP ETF | $101.6M | 0.5% | +1249% | — |
| 32 |  $CRDO | Credo Technology Group Holding Ltd | $96.5M | 0.4% | +832% | 55.1 |
| 33 | $CRDOPUT | Credo Technology Group Holding Ltd | $95.2M | — | NEW | 55.1 |
| 34 |  $MSTRPUT | Strategy Inc | $87.3M | — | +7230% | 17.9 |
| 35 | $MSTR | Strategy Inc | $87.1M | 0.4% | NEW | 17.9 |
| 36 |  $WBD | Warner Bros. Discovery, Inc. | $83.6M | 0.4% | +155% | 41.4 |
| 37 | — | ISHARES TR - IBOXX HI YD ETF | $80.0M | — | NEW | — |
| 38 |  $QCOMPUT | QUALCOMM INC/DE | $78.0M | — | +927% | 70.5 |
| 39 | $QCOM | QUALCOMM INC/DE | $77.7M | 0.3% | +2574% | 70.5 |
| 40 | $KLACPUT | KLA CORP | $68.5M | — | +4106% | 78.6 |
| 41 | $KLAC | KLA CORP | $68.0M | 0.3% | NEW | 78.6 |
| 42 |  $NKEPUT | NIKE, Inc. | $65.7M | — | +7823% | 49.3 |
| 43 | $NKE | NIKE, Inc. | $65.7M | 0.3% | NEW | 49.3 |
| 44 | $TSLACALL | Tesla, Inc. | $62.5M | — | -79% | 53.9 |
| 45 |  $NVDAPUT | NVIDIA CORP | $60.9M | — | -74% | 85.9 |
| 46 |  $ADIPUT | ANALOG DEVICES INC | $60.3M | — | +522% | 79.2 |
| 47 | $ADI | ANALOG DEVICES INC | $59.7M | 0.3% | +2198% | 79.2 |
| 48 |  $ULTA | Ulta Beauty, Inc. | $58.6M | 0.3% | NEW | 67.3 |
| 49 | $ULTAPUT | Ulta Beauty, Inc. | $58.6M | — | NEW | 67.3 |
| 50 |  $KVUE | Kenvue Inc. | $58.6M | 0.3% | +36% | 60.3 |
| 51 |  $AAOI | APPLIED OPTOELECTRONICS, INC. | $56.4M | 0.3% | NEW | 40.1 |
| 52 | $AAOIPUT | APPLIED OPTOELECTRONICS, INC. | $56.3M | — | NEW | 40.1 |
| 53 | $WBDPUT | Warner Bros. Discovery, Inc. | $56.0M | — | +2000% | 41.4 |
| 54 |  $SOFIPUT | SoFi Technologies, Inc. | $53.8M | — | NEW | 62.4 |
| 55 | $SOFI | SoFi Technologies, Inc. | $53.8M | 0.2% | NEW | 62.4 |
| 56 |  $AES | AES CORP | $51.3M | 0.2% | +42% | 58.6 |
| 57 |  $PYPLPUT | PayPal Holdings, Inc. | $51.3M | — | NEW | 64.1 |
| 58 |  $ECHO | EchoStar CORP | $50.9M | 0.2% | NEW | 32.8 |
| 59 | $PYPL | PayPal Holdings, Inc. | $50.8M | 0.2% | NEW | 64.1 |
| 60 | $ECHOPUT | EchoStar CORP | $50.8M | — | NEW | 32.8 |
| 61 | — | VANGUARD SCOTTSDALE FDS - INT-TERM CORP | $49.6M | 0.2% | NEW | — |
| 62 |  $EACALL | ELECTRONIC ARTS INC. | $47.2M | — | NEW | 62.9 |
| 63 | — | ISHARES TR - 20 YR TR BD ETF | $46.9M | — | NEW | — |
| 64 | — | ISHARES TR - CHINA LG-CAP ETF | $45.7M | — | -28% | — |
| 65 |  $AXONPUT | AXON ENTERPRISE, INC. | $44.8M | — | NEW | 56.6 |
| 66 | $AXON | AXON ENTERPRISE, INC. | $44.8M | 0.2% | NEW | 56.6 |
| 67 |  $OGN | Organon & Co. | $41.3M | 0.2% | NEW | 50.5 |
| 68 | — | ISHARES TR - EXPANDED TECH | $40.8M | — | +120% | — |
| 69 |  $AMATPUT | APPLIED MATERIALS INC /DE | $40.6M | — | -31% | 72.3 |
| 70 | — | SPDR SERIES TRUST - ST STR SP REGBNK | $40.2M | — | +132% | — |
| 71 | — | ISHARES TR - CHINA LG-CAP ETF | $39.7M | — | +325% | — |
| 72 |  $EVRG | Evergy, Inc. | $39.2M | 0.2% | NEW | 53.2 |
| 73 |  $GEVPUT | GE Vernova Inc. | $37.8M | — | +519% | 81.1 |
| 74 | $NVDA | NVIDIA CORP | $37.1M | 0.2% | -45% | 85.9 |
| 75 |  $VAL | Valaris Ltd | $37.1M | 0.2% | +822% | — |
| 76 | $GEV | GE Vernova Inc. | $35.6M | 0.2% | +2119% | 81.1 |
| 77 | $ANETPUT | Arista Networks, Inc. | $34.0M | — | +4785% | 81.9 |
| 78 | $ANET | Arista Networks, Inc. | $34.0M | 0.1% | NEW | 81.9 |
| 79 | $VRT | Vertiv Holdings Co | $34.0M | 0.1% | NEW | 81 |
| 80 | $VRTPUT | Vertiv Holdings Co | $33.7M | — | NEW | 81 |
| 81 |  $HLT | Hilton Worldwide Holdings Inc. | $33.3M | 0.1% | NEW | 63.3 |
| 82 | $HLTPUT | Hilton Worldwide Holdings Inc. | $33.1M | — | +2534% | 63.3 |
| 83 |  $UPSPUT | UNITED PARCEL SERVICE INC | $32.4M | — | +9036% | 58.6 |
| 84 | $UPS | UNITED PARCEL SERVICE INC | $32.3M | 0.1% | NEW | 58.6 |
| 85 |  $WBS | WEBSTER FINANCIAL CORP | $32.0M | 0.1% | +187% | 63.3 |
| 86 |  $PLTRPUT | Palantir Technologies Inc. | $30.8M | — | +129% | 84.6 |
| 87 | — | ISHARES TR - CHINA LG-CAP ETF | $29.5M | 0.1% | -11% | — |
| 88 |  $MARPUT | MARRIOTT INTERNATIONAL INC /MD/ | $28.8M | — | +2120% | 61.7 |
| 89 |  $BLD | QXO Insulation, LLC | $28.4M | 0.1% | NEW | 56.4 |
| 90 | $MAR | MARRIOTT INTERNATIONAL INC /MD/ | $27.9M | 0.1% | +9663% | 61.7 |
| 91 |  $GTLS | CHART INDUSTRIES INC | $27.5M | 0.1% | -21% | 49 |
| 92 |  $PEN | Penumbra Inc | $26.2M | 0.1% | -18% | 67.1 |
| 93 | — | JAZZ INVESTMENTS I LTD - NOTE 3.125% 9/1 | $25.6M | 0.1% | NEW | — |
| 94 |  $NSC | NORFOLK SOUTHERN CORP | $25.0M | 0.1% | -45% | 63.2 |
| 95 |  $CEGPUT | Constellation Energy Corp | $24.8M | — | +307% | 59.4 |
| 96 |  $AAPLPUT | Apple Inc. | $24.7M | — | -59% | 76.4 |
| 97 | — | SELECT SECTOR SPDR TR - ST STR STAPL ETF | $24.3M | 0.1% | +1492% | — |
| 98 | $CEG | Constellation Energy Corp | $24.1M | 0.1% | +800% | 59.4 |
| 99 |  $COINPUT | Coinbase Global, Inc. | $23.7M | — | +6135% | 44.8 |
| 100 | $COIN | Coinbase Global, Inc. | $23.4M | 0.1% | NEW | 44.8 |
| 101 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | $22.8M | 0.1% | -8% | — |
| 102 | $CDNSPUT | CADENCE DESIGN SYSTEMS INC | $21.1M | — | +342% | 72.6 |
| 103 | $CDNS | CADENCE DESIGN SYSTEMS INC | $21.0M | 0.1% | +946% | 72.6 |
| 104 |  $CLS | CELESTICA INC | $20.4M | 0.1% | NEW | 69.8 |
| 105 | $CLSPUT | CELESTICA INC | $20.4M | — | NEW | 69.8 |
| 106 | — | SELECT SECTOR SPDR TR - ST STR SVC ETF | $20.3M | 0.1% | +190% | — |
| 107 | — | ISHARES TR - MSCI EAFE ETF | $20.3M | — | +0% | — |
| 108 | — | VANGUARD INDEX FDS - S&P 500 ETF SHS | $19.7M | 0.1% | -56% | — |
| 109 | — | ISHARES TR - RUSSELL 2000 ETF | $19.1M | 0.1% | -30% | — |
| 110 |  $HONPUT | HONEYWELL INTERNATIONAL INC | $18.3M | — | +3042% | 65 |
| 111 |  $AMZNPUT | AMAZON COM INC | $18.2M | — | -70% | 68.7 |
| 112 |  $IBMPUT | INTERNATIONAL BUSINESS MACHINES CORP | $17.8M | — | +1878% | 70 |
| 113 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | $17.7M | 0.1% | +9628% | 70 |
| 114 |  $TXNM | TXNM ENERGY INC | $17.5M | 0.1% | +754% | 52.8 |
| 115 | — | SELECT SECTOR SPDR TR - ST STR DISCR ETF | $17.4M | 0.1% | NEW | — |
| 116 |  $LULUPUT | lululemon athletica inc. | $17.2M | — | NEW | 67.7 |
| 117 |  $ZS | Zscaler, Inc. | $17.2M | 0.1% | NEW | 63.7 |
| 118 | $ZSPUT | Zscaler, Inc. | $17.2M | — | NEW | 63.7 |
| 119 | $LULU | lululemon athletica inc. | $17.2M | 0.1% | NEW | 67.7 |
| 120 | $PLTR | Palantir Technologies Inc. | $16.9M | 0.1% | +568% | 84.6 |
| 121 |  $AAUC | Allied Gold Corp | $16.5M | 0.1% | -31% | — |
| 122 |  $CZR | Caesars Entertainment, Inc. | $16.5M | 0.1% | +1415% | 44.5 |
| 123 | — | BITMINE IMMERSION TECHS INC - COM NEW | $16.0M | — | NEW | — |
| 124 | — | BITMINE IMMERSION TECHS INC - COM NEW | $16.0M | 0.1% | NEW | — |
| 125 |  $BKNGPUT | Booking Holdings Inc. | $15.4M | — | NEW | 58.5 |
| 126 |  $USOPUT | United States Oil Fund, LP | $14.9M | — | NEW | — |
| 127 |  $BACPUT | BANK OF AMERICA CORP /DE/ | $14.6M | — | +240% | 67.6 |
| 128 |  $UNF | UNIFIRST CORP | $14.5M | 0.1% | NEW | 48 |
| 129 |  $LBRDA | Liberty Broadband Corp | $14.4M | 0.1% | -48% | 53 |
| 130 | $TECK | TECK RESOURCES LTD | $14.1M | 0.1% | +1030% | — |
| 131 |  $JHG | Janus Henderson Group Ltd. | $14.0M | 0.1% | +20% | — |
| 132 | — | KRANESHARES TRUST - CSI CHI INTERNET | $14.0M | — | -1% | — |
| 133 | $BKNG | Booking Holdings Inc. | $13.9M | 0.1% | NEW | 58.5 |
| 134 |  $GOOGPUT | Alphabet Inc. | $13.8M | — | -65% | 78.2 |
| 135 |  $NOVT | NOVANTA INC | $13.6M | 0.1% | +8991% | 51.2 |
| 136 |  $MUPUT | MICRON TECHNOLOGY INC | $13.2M | — | -68% | 86.2 |
| 137 |  $MSFTPUT | MICROSOFT CORP | $12.6M | — | -72% | 79.8 |
| 138 |  $METAPUT | Meta Platforms, Inc. | $11.8M | — | -88% | 79.6 |
| 139 | — | SPDR SERIES TRUST - ST STR SP REGBNK | $11.0M | 0.1% | +140% | — |
| 140 | — | PPL CORP - UNIT 02/15/2029 | $11.0M | 0.1% | NEW | — |
| 141 | — | KRANESHARES TRUST - CSI CHI INTERNET | $10.9M | 0.1% | +51% | — |
| 142 | — | NEXTERA ENERGY INC - UNIT 02/15/2029 | $10.8M | 0.1% | +3994% | — |
| 143 |  $TECH | BIO-TECHNE Corp | $10.6M | 0.1% | NEW | 58.9 |
| 144 |  $JDCALL | JD.com, Inc. | $10.5M | — | +4712% | — |
| 145 |  $NTESCALL | NetEase, Inc. | $10.2M | — | NEW | — |
| 146 |  $ZIMCALL | ZIM Integrated Shipping Services Ltd. | $10.1M | — | +0% | — |
| 147 |  $HEI.A | HEICO CORP | $9.6M | 0.0% | +100% | 75.6 |
| 148 | — | CHEESECAKE FACTORY INC - NOTE 2.000% 3/1 | $9.6M | 0.0% | NEW | — |
| 149 |  $AMDCALL | ADVANCED MICRO DEVICES INC | $9.2M | — | +41% | 79.8 |
| 150 | $HON | HONEYWELL INTERNATIONAL INC | $9.1M | 0.0% | NEW | 65 |
New Positions (123)
$WDC WESTERN DIGITAL CORP$179.0M$CRDOPUT Credo Technology Group Holding Ltd$95.2M$ULTA Ulta Beauty, Inc.$58.6M$ULTAPUT Ulta Beauty, Inc.$58.6M$AAOI APPLIED OPTOELECTRONICS, INC.$56.4M$AAOIPUT APPLIED OPTOELECTRONICS, INC.$56.3M$SOFIPUT SoFi Technologies, Inc.$53.8M$SOFI SoFi Technologies, Inc.$53.8M$ECHO EchoStar CORP$50.9M$ECHOPUT EchoStar CORP$50.8M$EACALL ELECTRONIC ARTS INC.$47.2M$OGN Organon & Co.$41.3MExited Positions (489)
$CWAN Clearwater Analytics Holdings, Inc.
$FOLD AMICUS THERAPEUTICS, INC.
$SDA SunCar Technology Group Inc.
$HOLX HOLOGIC INC
$OS OneStream, Inc.
$DBRG DigitalBridge Group, Inc.
$MASI MASIMO CORP
$CSGS CSG SYSTEMS INTERNATIONAL INC
$SNCY Sun Country Airlines Holdings, LLC
$TSMPUT TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD
$CTRA Coterra Energy Inc.
$TPH Tri Pointe Homes, Inc.
$PPL PPL CorpBrowse Top Institutional Investors
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