Capula Management Ltd
Institutional investor · Portfolio as of Q3 2025
Top Holdings793 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
ISHARES CORE S&P 500 ETF | 10.4M | $7B | 34.8% | $582.46 | +14.07% | 3 qtrssince 2025-Q1 | Increased 81 |
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 3.1M | $2B | 10.1% | $577.26 | +14.63% | 27 qtrssince 2019-Q1 | Decreased 0 |
INVESCO QQQ TRUST SERIES 1 CL USD INC | 1M | $627.4M | 3.1% | — | — | — | Decreased — |
ISHARES BITCOIN TRUST | 9.5M | $616.3M | 3.1% | $40.61 | +60.00% | 6 qtrssince 2024-Q2 | Increased 58 |
STRATEGY INC | 1.8M | $570.2M | 2.8% | — | — | — | Increased — |
STRATEGY INC | 1.8M | $565.8M | 2.8% | $326.41 | 0.00% | 4 qtrssince 2024-Q4 | Increased 87 |
INVESCO QQQ TRUST SERIES 1 CL USD INC | 865,000 | $519.3M | 2.6% | — | — | — | Increased — |
ISHARES IBOXX INVESTMENT GRA | 4M | $445.9M | 2.2% | — | — | — | New — |
UNITEDHEALTH GROUP INC | 963,800 | $332.8M | 1.7% | — | — | — | New — |
UNITEDHEALTH GROUP INC | 961,097 | $331.9M | 1.7% | $342.89 | 0.00% | 4 qtrssince 2024-Q4 | Increased 79 |
INVESCO QQQ TRUST SERIES 1 CL USD INC | 530,580 | $318.5M | 1.6% | $565.31 | +5.78% | 16 qtrssince 2021-Q4 | Increased 79 |
ISHARES ETHEREUM TRUST ETF | 8.9M | $279.4M | 1.4% | $22.76 | +39.37% | 3 qtrssince 2025-Q1 | Increased 71 |
FIDELITY WISE ORIGIN BITCOIN | 2.1M | $210.9M | 1.0% | $68.03 | +46.71% | 6 qtrssince 2024-Q2 | Increased 64 |
ALIBABA GROUP HOLDING-SP ADR | 1.1M | $200.9M | 1.0% | — | — | — | New — |
APPLE INC | 774,300 | $197.2M | 1.0% | — | — | — | Increased — |
COINBASE GLOBAL INC -CLASS A | 529,300 | $178.6M | 0.9% | — | — | — | New — |
NVIDIA CORP | 925,600 | $172.7M | 0.9% | — | — | — | Increased — |
COINBASE GLOBAL INC -CLASS A | 501,397 | $169.2M | 0.8% | $333.99 | 0.00% | 1 qtr | New 59 |
ISHARES RUSSELL 2000 ETF ETF | 587,000 | $142M | 0.7% | — | — | — | New — |
VANECK SEMICONDUCTOR ETF | 417,700 | $136.3M | 0.7% | — | — | — | Decreased — |
Capula Management Ltd manages $20.1B across 793 positions as of Q3 2025. Top holdings: IVV (34.8%), SPY (10.1%), QQQ (3.1%). Fund DNA: Momentum Trader. HoldingsIntel Rating: 2.5/5.0.
Active quarter - 157 new positions, 95 exits, 99 increased. Top move: MSTR (INCREASED, conviction 87). Portfolio: $20.1B across 793 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
Similar Funds
Funds with similar investing DNA
Explore More
Accumulation Streaks
Positions with 2+ consecutive quarters of increases - persistent directional conviction.
Continue exploring
Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer