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Capula Management Ltd — 13F Holdings & Portfolio

CIK 1557017 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Capula Management Ltd manages $27.98B in 13F-reported U.S. long-equity assets across 1,029 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IVV (47.27%), SPY (12.06%), IVV (6.27%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 80 new positions, exited 190, added to 98, and trimmed 112.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
PO BOX 309
UGLAND HOUSE
GRAND CAYMAN, E9 KY1-1104
Phone
(345) 949-8066
Filing Manager
Capula Management Ltd
Grand Cayman, E9
Signatory
Henning Bruder
Director
Loading holdings…
AUM

$27.98B

Long-equity book

Holdings

1,029

Distinct positions

Period

2026-06-30

Filed 2026-08-14

Q/Q Activity

+80 / −190 / ↑98 / ↓112

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • ISHARES TR$9.08B +152.8%
  • ALIBABA GROUP HLDG LTD$306.5M +2133.0%
  • BOEING CO$204.7M +14499.5%
  • UBER TECHNOLOGIES INC$158.8M +44299.8%
  • ISHARES TR$145.9M +2047.6%
Show all 98 →

Top Trims

  • STATE STR SPDR S&P 500 ETF T-$573.9M -14.3%
  • ELECTRONIC ARTS INC-$30.2M -100.0%
  • LIBERTY BROADBAND CORP-$27.7M -65.7%
  • ALLIED GOLD CORP-$26.7M -61.9%
  • NVIDIA CORPORATION-$21.6M -36.8%
Show all 112 →

New Positions

  • WESTERN DIGITAL CORP$179.0M
  • ULTA BEAUTY INC$58.6M
  • APPLIED OPTOELECTRONICS INC$56.4M
  • SOFI TECHNOLOGIES INC$53.8M
  • ECHOSTAR CORP$50.9M
Show all 80 →

Exited Positions

  • CLEARWATER ANALYTICS HLDGS I$63.3M
  • AMICUS THERAPEUTIC$46.2M
  • SEALED AIR CORP NEW$38.6M
  • HOLOGIC INC$35.2M
  • ONESTREAM INC$25.8M
Show all 190 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ISHARES TR IVV 464287200 $13.23B 47.27% 17,662,840 SH
2 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $3.38B 12.06% 4,520,051 SH
3 ISHARES TR IVV 464287200 $1.76B 6.27% 2,344,000 SH
4 INVESCO QQQ TR Put QQQ 46090E103 $210.2M 0.75% 285,400 SH
5 INVESCO QQQ TR Call QQQ 46090E103 $202.5M 0.72% 275,000 SH
6 STATE STR SPDR S&P 500 ETF T Call SPY 78462F103 $162.2M 0.58% 217,200 SH
7 ALIBABA GROUP HLDG LTD Put BABA 01609W102 $161.7M 0.58% 1,684,500 SH
8 ALIBABA GROUP HLDG LTD BABA 01609W102 $161.3M 0.58% 1,680,897 SH
9 ALIBABA GROUP HLDG LTD Put BABA 01609W102 $160.1M 0.57% 1,668,200 SH
10 ALIBABA GROUP HLDG LTD BABA 01609W102 $159.6M 0.57% 1,662,611 SH
11 INVESCO QQQ TR Put QQQ 46090E103 $157.1M 0.56% 213,300 SH
12 ISHARES TR HYG 464288513 $153.0M 0.55% 1,913,439 SH
13 ISHARES TR Put IWM 464287655 $134.9M 0.48% 449,000 SH
14 TESLA INC Put TSLA 88160R101 $134.3M 0.48% 319,300 SH
15 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $126.2M 0.45% 169,000 SH
16 BOEING CO Put BA 097023105 $105.4M 0.38% 486,700 SH
17 BOEING CO Put BA 097023105 $103.9M 0.37% 480,200 SH
18 BOEING CO BA 097023105 $103.0M 0.37% 475,992 SH
19 BOEING CO BA 097023105 $103.0M 0.37% 475,988 SH
20 ISHARES TR LQD 464287242 $101.6M 0.36% 931,663 SH
21 WESTERN DIGITAL CORP Put WDC 958102105 $90.0M 0.32% 140,900 SH
22 WESTERN DIGITAL CORP WDC 958102105 $89.6M 0.32% 140,310 SH
23 WESTERN DIGITAL CORP Put WDC 958102105 $89.5M 0.32% 140,100 SH
24 WESTERN DIGITAL CORP WDC 958102105 $89.4M 0.32% 140,005 SH
25 UBER TECHNOLOGIES INC Put UBER 90353T100 $80.0M 0.29% 1,108,300 SH
26 ISHARES TR Call HYG 464288513 $80.0M 0.29% 1,000,000 SH
27 UBER TECHNOLOGIES INC Put UBER 90353T100 $79.6M 0.28% 1,102,600 SH
28 UBER TECHNOLOGIES INC UBER 90353T100 $79.5M 0.28% 1,101,395 SH
29 UBER TECHNOLOGIES INC UBER 90353T100 $79.4M 0.28% 1,100,169 SH
30 TESLA INC Put TSLA 88160R101 $78.5M 0.28% 186,700 SH
31 INTEL CORP Put INTC 458140100 $77.2M 0.28% 553,200 SH
32 INTEL CORP Put INTC 458140100 $74.0M 0.26% 530,200 SH
33 PDD HOLDINGS INC Put PDD 722304102 $73.9M 0.26% 968,200 SH
34 INTEL CORP INTC 458140100 $73.5M 0.26% 526,639 SH
35 INTEL CORP INTC 458140100 $73.3M 0.26% 525,000 SH
36 PDD HOLDINGS INC PDD 722304102 $73.2M 0.26% 959,949 SH
37 PDD HOLDINGS INC PDD 722304102 $72.8M 0.26% 955,000 SH
38 PDD HOLDINGS INC Put PDD 722304102 $72.8M 0.26% 955,000 SH
39 WALMART INC Put WMT 931142103 $71.3M 0.25% 629,300 SH
40 WALMART INC WMT 931142103 $71.1M 0.25% 627,422 SH
41 WALMART INC Put WMT 931142103 $71.0M 0.25% 626,500 SH
42 WALMART INC WMT 931142103 $70.9M 0.25% 625,733 SH
43 BROADCOM INC Put AVGO 11135F101 $69.3M 0.25% 183,400 SH
44 TESLA INC TSLA 88160R101 $68.5M 0.24% 162,776 SH
45 BROADCOM INC AVGO 11135F101 $66.7M 0.24% 176,452 SH
46 WARNER BROS DISCOVERY INC Put WBD 934423104 $56.0M 0.20% 2,100,000 SH
47 AMGEN INC Put AMGN 031162100 $54.4M 0.19% 150,200 SH
48 AMGEN INC AMGN 031162100 $54.3M 0.19% 150,064 SH
49 AMGEN INC Put AMGN 031162100 $54.3M 0.19% 150,000 SH
50 AMGEN INC AMGN 031162100 $54.3M 0.19% 150,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $27.98B 1,029 0001172661-26-003473
2026-03-31 2026-05-14 $14.06B 1,256 0001172661-26-001894
2025-12-31 2026-02-13 $19.96B 960 0001172661-26-000749
2025-09-30 2025-11-14 $20.09B 913 0001172661-25-005004