13F value (AUM)
$28.0B
CA
Capula Management
CAPULA MANAGEMENT LTD
$28.0B
13F long value · 2026-Q2Positions700
CategoryAsset Manager
Quarters tracked9
● #271 of 581 by 13F value
Size rank 6/10
18 NEW19 ADD68 2×+46 TRIM47 NEAR EXIT14 EXIT
Snapshot
Capula Management's 13F portfolio at a glance — size, concentration and this quarter's activity.
Positions
700 (59 unmapped)
Top 100 weight
94.6%
Quarters tracked
9
Latest 13F filed
Aug 14, 2026
New positions
18
Exits / near-exits
61
13F value by quarter
Total reported long value each quarter — fund flows plus market moves.
Top holdings — 2026-Q2
The fund's largest reported positions (PUT/CALL rows are option positions, reported separately). The 100 shown cover 94.6% of the portfolio.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| IVV | ISHARES TR | 53.7% | $15.0B | 20.1M | — |
| SPY | STATE STR SPDR S&P 500 ETF T | 12.3% | $3.4B | 4.6M | +2.3% |
| QQQ PUT | INVESCO QQQ TR | 1.4% | $378.3M | 513.7K | — |
| BABA PUT | ALIBABA GROUP HLDG LTD | 1.2% | $336.2M | 3.5M | — |
| BABA | ALIBABA GROUP HLDG LTD | 1.1% | $320.9M | 3.3M | +38.1% |
| TSLA PUT | TESLA INC | 0.8% | $235.5M | 559.9K | — |
| BA PUT | BOEING CO | 0.7% | $209.3M | 966.9K | — |
| BA | BOEING CO | 0.7% | $206.1M | 952.0K | -11.2% |
| QQQ CALL | INVESCO QQQ TR | 0.7% | $202.6M | 275.1K | — |
| WDC PUT | WESTERN DIGITAL CORP | 0.6% | $179.5M | 281.0K | — |
| WDC | WESTERN DIGITAL CORP | 0.6% | $179.0M | 280.3K | -37.3% |
| SPY CALL | STATE STR SPDR S&P 500 ETF T | 0.6% | $162.2M | 217.2K | — |
| UBER PUT | UBER TECHNOLOGIES INC | 0.6% | $159.5M | 2.2M | — |
| UBER | UBER TECHNOLOGIES INC | 0.6% | $159.1M | 2.2M | +5.7% |
| SPY PUT | STATE STR SPDR S&P 500 ETF T | 0.6% | $157.0M | 210.2K | — |
Option positions — 2026-Q2
$4.3B across 226 put positions vs $883.3M across 171 call positions — put/call ratio 4.91. Values are notional — the market value of the shares the options reference.
| Type | Ticker | Issuer | Underlying shares | Notional value | % of 13F value |
|---|---|---|---|---|---|
| PUT | QQQ | INVESCO QQQ TR | 513.7K | $378.3M | 1.4% |
| PUT | BABA | ALIBABA GROUP HLDG LTD | 3.5M | $336.2M | 1.2% |
| PUT | TSLA | TESLA INC | 559.9K | $235.5M | 0.8% |
| PUT | BA | BOEING CO | 966.9K | $209.3M | 0.7% |
| PUT | — | UBS GROUP AG | 847.0K | $206.3M | 0.7% |
| CALL | QQQ | INVESCO QQQ TR | 275.1K | $202.6M | 0.7% |
| PUT | WDC | WESTERN DIGITAL CORP | 281.0K | $179.5M | 0.6% |
| CALL | SPY | STATE STR SPDR S&P 500 ETF T | 217.2K | $162.2M | 0.6% |
| PUT | UBER | UBER TECHNOLOGIES INC | 2.2M | $159.5M | 0.6% |
| PUT | SPY | STATE STR SPDR S&P 500 ETF T | 210.2K | $157.0M | 0.6% |
Quarterly changes — 2026-Q2
What Capula Management opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| 2×+ | IVV | ISHARES TR | 9.1M | 20.1M | +120.5% | +$9.1B |
| TRIM | SPY | STATE STR SPDR S&P 500 ETF T | 6.2M | 4.6M | -25.4% | -$573.9M |
| 2×+ | BABA | ALIBABA GROUP HLDG LTD | 114.5K | 3.3M | +2818.9% | +$306.5M |
| 2×+ | BA | BOEING CO | 7.1K | 952.0K | +13323.3% | +$204.7M |
| NEW | WDC | WESTERN DIGITAL CORP | — | 280.3K | — | +$179.0M |
| 2×+ | UBER | UBER TECHNOLOGIES INC | 5.0K | 2.2M | +44158.2% | +$158.8M |
| 2×+ | HYG | ISHARES TR | 89.6K | 1.9M | +2036.6% | +$145.9M |
| 2×+ | PDD | PDD HOLDINGS INC | 17.6K | 1.9M | +10790.3% | +$144.3M |
| 2×+ | INTC | INTEL CORP | 79.2K | 1.1M | +1228.5% | +$143.5M |
| 2×+ | WMT | WALMART INC | 11.6K | 1.3M | +10700.1% | +$140.5M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.