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Asset Manager ← All Institutions

Capula Management Ltd

Q4 2025 · Filed 2026-02-13
Market Value
$15.4B
+14.7%
Holdings
392
-5
New Purchases
89
Added To
106
Closed
84
Reduced
109
Top 10 Concentration
86.7%
Turnover
44.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 48.63% 0.00% +48.62% $7.5B
SPY 25.15% 15.19% +9.96% $3.9B
IBM 1.31% 0.00% +1.31% $202M
BABA 1.38% 0.55% +0.84% $212M
GOOGL 0.83% 0.07% +0.76% $127M
QCOM 0.72% 0.01% +0.72% $111M
CAT 0.63% 0.00% +0.63% $97M
XOM 0.63% 0.01% +0.62% $97M
PYPL 0.62% 0.01% +0.60% $94M
CEG 0.58% 0.00% +0.57% $88M
UBER 1.21% 0.76% +0.45% $185M
APP 0.40% 0.00% +0.39% $61M
GOOG 0.33% 0.00% +0.33% $50M
WBD 0.30% 0.00% +0.30% $46M
EXAS 0.27% 0.00% +0.27% $42M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IVV 2.75% 52.16% -49.41% $422M
MSTR 0.12% 4.23% -4.10% $19M
UNH 0.00% 2.48% -2.48% $0
QQQ 0.31% 2.38% -2.07% $47M
IBIT 3.07% 4.60% -1.54% $471M
AMAT 0.00% 0.78% -0.78% $235K
ETHA 1.35% 2.09% -0.74% $207M
SMH 0.08% 0.80% -0.72% $12M
COST 0.01% 0.71% -0.70% $2M
NKE 0.27% 0.91% -0.65% $41M
COIN 0.63% 1.26% -0.64% $96M
FBTC 1.05% 1.57% -0.53% $161M
BRK-B 0.33% 0.85% -0.52% $50M
CRWD 0.00% 0.37% -0.37% $0
EEM 0.24% 0.59% -0.35% $36M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 61 $13.0B 84.6%
Large Cap 245 $1.9B 12.7%
Mid Cap 67 $400M 2.6%
Small Cap 16 $10M 0.1%
Micro Cap 3 $740K 0.0%

Portfolio Analytics

Avg Market Cap
$182.5B
Median Market Cap
$57.6B
Avg P/E
35.0
Median P/E
24.4
Avg Dividend Yield
0.02%
Avg Beta
1.13
# Stocks
354
# ETFs / Funds
38

Top Holdings (392 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VOO 48.63% 11,903,616 $7.5B $627.13 $7.5B +11,902,816 +1487852.0%
2 SPY 25.15% 5,662,177 $3.9B $681.92 $1.8B +2,609,063 +85.5%
3 IBIT 3.07% 9,481,233 $471M $49.65 -$146M -676 -0.0%
4 IVV 2.75% 616,758 $422M $684.94 -$6.6B -9,817,612 -94.1%
5 BABA 1.38% 1,449,316 $212M $146.58 $139M +1,040,688 +254.7%
6 ETHA 1.35% 9,227,427 $207M $22.43 -$72M +358,942 +4.0%
7 IBM 1.31% 681,074 $202M $296.21 $201M +680,054 +66672.0%
8 UBER 1.21% 2,265,665 $185M $81.71 $84M +1,233,137 +119.4%
9 FBTC 1.05% 2,112,794 $161M $76.23 -$50M
10 GOOGL 0.83% 405,922 $127M $313.00 $118M +368,590 +987.3%
11 QCOM 0.72% 650,000 $111M $171.05 $110M +643,712 +10237.1%
12 CAT 0.63% 170,000 $97M $572.87 $97M +169,466 +31735.2%
13 XOM 0.63% 802,016 $97M $120.34 $95M +786,478 +5061.6%
14 COIN 0.63% 426,257 $96M $226.14 -$73M -75,140 -15.0%
15 PYPL 0.62% 1,617,339 $94M $58.38 $93M +1,588,752 +5557.6%
16 CEG 0.58% 250,000 $88M $353.27 $88M +249,386 +40616.6%
17 DELL 0.57% 694,686 $87M $125.88 -$26M -105,420 -13.2%
18 AAPL 0.55% 309,743 $84M $271.86 -$30M -139,346 -31.0%
19 FETH 0.40% 2,074,703 $61M $29.61 -$29M -100,226 -4.6%
20 APP 0.40% 90,000 $61M $673.82 $60M +89,506 +18118.6%
21 BRK-B 0.33% 100,017 $50M $502.65 -$63M -125,043 -55.6%
22 GOOG 0.33% 160,000 $50M $313.80 +160,000 NEW
23 QQQ 0.31% 76,595 $47M $614.31 -$271M -453,985 -85.6%
24 WBD 0.30% 1,597,068 $46M $28.82 +1,597,068 NEW
25 TSLA 0.30% 102,134 $46M $449.72 -$3M -8,589 -7.8%
26 NVDA 0.29% 242,496 $45M $186.50 $31M +167,823 +224.7%
27 META 0.27% 63,654 $42M $660.09 $35M +53,674 +537.8%
28 EXAS 0.27% 413,170 $42M $101.56 +413,170 NEW
29 NKE 0.27% 642,610 $41M $63.71 -$81M -1,108,187 -63.3%
30 JD 0.25% 1,330,000 $38M $28.70 +1,330,000 NEW
31 DAY 0.24% 532,716 $37M $69.16 $9M +125,716 +30.9%
32 EEM 0.24% 662,118 $36M $54.71 -$43M -813,816 -55.1%
33 AMGN 0.23% 110,026 $36M $327.31 $35M +107,867 +4996.2%
34 CYBR 0.23% 79,291 $35M $446.06 $421K +6,958 +9.6%
35 RNAM 0.18% 389,566 $28M $72.13 +389,566 NEW
36 EA 0.18% 132,150 $27M $204.33 +132,150 NEW
37 FYBR 0.16% 658,205 $25M $38.07 $5M +122,160 +22.8%
38 SEE 0.15% 566,405 $23M $41.43 +566,405 NEW
39 SMCI 0.15% 785,000 $23M $29.27 +785,000 NEW
40 MSTR 0.12% 126,288 $19M $151.95 -$547M -1,629,760 -92.8%
41 KVUE 0.11% 945,618 $16M $17.25 +945,618 NEW
42 ASTS 0.11% 223,243 $16M $72.63 +223,243 NEW
43 AL 0.10% 243,831 $16M $64.23 +243,831 NEW
44 FXI 0.10% 382,000 $15M $38.29 $13M +330,785 +645.9%
45 HOLX 0.10% 196,184 $15M $74.49 +196,184 NEW
46 NSC 0.09% 50,000 $14M $288.72 +50,000 NEW
47 DLTR 0.09% 110,099 $14M $123.01 +110,099 NEW
48 SNOW 0.08% 57,848 $13M $219.36 +57,848 NEW
49 SMH 0.08% 33,844 $12M $360.13 -$95M -293,531 -89.7%
50 NGD 0.08% 1,369,532 $12M $8.71 +1,369,532 NEW
51 MRVL 0.07% 124,334 $11M $84.98 $7M +86,395 +227.7%
52 VRT 0.07% 62,511 $10M $162.01 $6M +36,095 +136.6%
53 LOW 0.07% 41,628 $10M $241.16 $9M +37,401 +884.8%
54 LVS 0.06% 150,000 $10M $65.09 +150,000 NEW
55 LULU 0.05% 40,000 $8M $207.81 +40,000 NEW
56 CFLT 0.05% 247,073 $7M $30.24 +247,073 NEW
57 NWSA 0.04% 261,017 $7M $26.12 -$2M -31,065 -10.6%
58 LBRDK 0.04% 140,145 $7M $48.60 -$15M -209,268 -59.9%
59 WMT 0.04% 58,924 $7M $111.41 $5M +48,538 +467.3%
60 FOX 0.04% 97,942 $6M $64.93 $748K
61 LNG 0.04% 32,140 $6M $194.39 $337K +6,986 +27.8%
62 SOMN 0.04% 221,990 $6M $25.14 +221,990 NEW
63 ALNY 0.03% 13,181 $5M $397.65 $2M +6,293 +91.4%
64 EMB 0.03% 42,482 $4M $96.28 $2M +15,653 +58.3%
65 PDD 0.03% 34,442 $4M $113.39 $4M +33,442 +3344.2%
66 BIIB 0.02% 21,295 $4M $175.99 $2M +11,087 +108.6%
67 REVG 0.02% 59,672 $4M $60.81 +59,672 NEW
68 JAMF 0.02% 260,000 $3M $13.01 +260,000 NEW
69 INDA 0.02% 61,100 $3M $54.05 $122K
70 CMI 0.02% 6,274 $3M $510.45 $1M +1,448 +30.0%
71 CDE 0.02% 172,107 $3M $17.83 +172,107 NEW
72 NWE 0.02% 46,512 $3M $64.54 $905K +10,734 +30.0%
73 CWAN 0.02% 124,360 $3M $24.12 +124,360 NEW
74 MS 0.02% 16,453 $3M $177.53 $3M +13,986 +566.9%
75 RDDT 0.02% 12,667 $3M $229.87 $22K +103 +0.8%
76 CNA 0.02% 56,511 $3M $47.74 -$2M -53,018 -48.4%
77 DKNG 0.02% 77,931 $3M $34.46 $942K +31,320 +67.2%
78 SUI 0.02% 21,451 $3M $123.91 +21,451 NEW
79 STE 0.02% 10,432 $3M $253.52 $633K +2,302 +28.3%
80 HTO 0.02% 53,476 $3M $48.99 $616K +12,340 +30.0%
81 CMCSA 0.02% 92,534 $3M $28.00 $2M +74,614 +416.4%
82 GL 0.02% 18,208 $3M $139.86 $544K +4,202 +30.0%
83 THG 0.02% 13,434 $2M $182.77 $578K +3,100 +30.0%
84 AFRM 0.02% 32,541 $2M $74.43 $1M +17,217 +112.3%
85 AFG 0.02% 17,717 $2M $136.68 $334K +3,393 +23.7%
86 ZM 0.01% 26,662 $2M $86.29 $2M +17,704 +197.6%
87 TRV 0.01% 7,835 $2M $290.06 $590K +1,808 +30.0%
88 PLYM 0.01% 101,883 $2M $21.88 +101,883 NEW
89 UAL 0.01% 19,748 $2M $111.82 $642K +3,514 +21.6%
90 CRWV 0.01% 30,125 $2M $71.61 -$408K +11,379 +60.7%
91 MU 0.01% 7,084 $2M $285.41 $1M +3,227 +83.7%
92 CPNG 0.01% 85,134 $2M $23.59 +85,134 NEW
93 SHOP 0.01% 12,359 $2M $160.97 -$3M -20,259 -62.1%
94 PBR 0.01% 164,470 $2M $11.85 +164,470 NEW
95 NFLX 0.01% 20,039 $2M $93.76 -$1M +17,224 +611.9%
96 MSFT 0.01% 3,771 $2M $483.62 -$11M -21,806 -85.3%
97 IWF 0.01% 3,748 $2M $473.30 +3,748 NEW
98 XLV 0.01% 10,981 $2M $154.80 $211K +285 +2.7%
99 EB 0.01% 378,096 $2M $4.45 +378,096 NEW
100 HOOD 0.01% 14,689 $2M $113.10 $1M +13,087 +816.9%

Options Breakdown

265 Calls $1.0B Call Value 280 Puts $3.5B Put Value 3.51 P/C Ratio

Top Calls

SymbolSharesValueStatus
QQQ 310,000 $190M
EEM 3,082,600 $169M
SPY 149,100 $102M NEW
SMH 197,700 $71M
KRE 800,000 $52M
XME 400,000 $41M NEW
SLV 550,800 $35M
GLD 60,000 $24M
ARKK 300,000 $23M
KWEB 600,000 $20M

Top Puts

SymbolSharesValueStatus
BABA 1,928,000 $283M
SMH 771,100 $278M
IBM 683,800 $203M
GOOGL 614,000 $192M
UBER 2,272,400 $186M
META 248,800 $164M
AAPL 576,300 $157M
NVDA 620,900 $116M
QCOM 673,000 $115M
XOM 872,100 $105M

New Positions

SymbolValue% Port
GOOG $50M 0.33%
WBD $46M 0.30%
EXAS $42M 0.27%
JD $38M 0.25%
RNAM $28M 0.18%
EA $27M 0.18%
SEE $23M 0.15%
SMCI $23M 0.15%
KVUE $16M 0.11%
ASTS $16M 0.11%
AL $16M 0.10%
HOLX $15M 0.10%
NSC $14M 0.09%
DLTR $14M 0.09%
SNOW $13M 0.08%

Sold Out Positions

SymbolValue% Port
AMP —%
DIS —%
FDX —%
CVS —%
UAA —%
NEE —%
CWEN —%
CBZ —%
ANET —%
BFH —%
AXP —%
DHR —%
UPS —%
UHAL-B —%
GEV —%
View SEC EDGAR Filings for Capula Management Ltd →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms