Capula Management Ltd
CIK
1557017
Location
Grand Cayman, E9
Portfolio Value
Small
$240,376,982
Diversification
Highly concentrated
Filing Date
Global Rank
#508
/ 8,578
▼ 108
Top Industry
Semiconductors
16.2%
3Y Alpha vs SPY
-1.4%
Period ended 3 months ago
Filed May 14, 2026 · 32d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+71.6%
SPY
+77.5%
Annualised alpha
-1.4%
Max drawdown
−21.0%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
431 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
56.7%
+19.8 pts
Top 5
71.6%
+18.7 pts
Top 10
76.2%
+11.2 pts
HHI
3,292
Highly concentrated+1,794
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 61.7% | $4,494,137,186 |
| Technology | 13.0% | $947,814,049 |
| Consumer Cyclical | 8.4% | $610,791,528 |
| Communication Services | 3.8% | $277,856,981 |
| Healthcare | 3.3% | $240,376,982 |
| Industrials | 2.9% | $209,053,483 |
| Financial Services | 2.2% | $156,653,227 |
| Utilities | 1.3% | $97,385,463 |
| Consumer Defensive | 1.2% | $88,440,520 |
| Energy | 0.9% | $68,776,526 |
| Basic Materials | 0.9% | $66,420,411 |
| Real Estate | 0.4% | $27,865,041 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| FOLD | AMICUS THERAPEUTICS, INC. | +3,161,610 | 3,191,610 | $46,150,680 | |
| CWAN | Clearwater Analytics Holdings, Inc. | +2,552,962 | 2,677,322 | $63,318,664 | |
| AES | Aes Corp | +2,462,833 | 2,510,980 | $35,379,707 | |
| KVUE | Kenvue Inc. | +1,301,854 | 2,247,472 | $38,746,417 | |
| NVDA | Nvidia Corp | +650,182 | 1,575,078 | $274,693,602 | |
| TSLA | Tesla, Inc. | +599,690 | 898,824 | $334,137,821 | |
| SPY | Spdr S&P 500 ETF Trust | +436,345 | 6,357,122 | $4,134,290,720 | |
| SEMR | SEMrush Holdings, Inc. | +393,831 | 488,521 | $5,832,940 | |
| SEE | SEALED AIR CORP/DE | +352,289 | 918,694 | $38,631,082 | |
| HOLX | HOLOGIC INC | +268,942 | 465,126 | $35,158,873 | |
| INTC | Intel Corp | +202,632 | 330,021 | $14,563,826 | |
| AMZN | Amazon Com Inc | +197,483 | 361,529 | $75,295,644 | |
| LYFT | Lyft, Inc. | +188,945 | 206,653 | $2,748,484 | |
| QQQ | Invesco Qqq Trust, Series 1 | +132,557 | 617,152 | $356,207,790 | |
| KMI | Kinder Morgan, Inc. | +105,569 | 114,069 | $3,824,732 | |
| NSC | Norfolk Southern Corp | +94,749 | 144,749 | $41,542,963 | |
| CSCO | Cisco Systems, Inc. | +93,037 | 115,664 | $8,974,369 | |
| PLTR | Palantir Technologies Inc. | +79,844 | 155,038 | $22,678,958 | |
| MSFT | Microsoft Corp | +60,987 | 196,158 | $72,611,806 | |
| STLA | Stellantis N.V. | +58,484 | 168,700 | $1,196,083 | |
| AVGO | Broadcom Inc. | +45,538 | 152,385 | $47,164,680 | |
| WMB | Williams Companies, Inc. | +43,805 | 51,367 | $3,738,490 | |
| SO | Southern Co | +41,543 | 48,644 | $4,695,118 | |
| CDE | Coeur Mining, Inc. | +40,981 | 213,088 | $3,999,661 | |
| SBUX | Starbucks Corp | +38,609 | 48,298 | $4,327,017 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| UBER | Uber Technologies, Inc | −4,505,382 | 37,483 | $2,696,151 | |
| PYPL | PayPal Holdings, Inc. | −3,224,553 | 6,086 | $275,269 | |
| BABA | Alibaba Group Holding Ltd | −3,189,270 | 188,046 | $23,592,250 | |
| JD | JD.com, Inc. | −2,541,310 | 118,690 | $3,509,663 | |
| SLV | iShares Silver Trust | −2,082,919 | 53,400 | $3,638,676 | |
| XOM | Exxon Mobil Corp | −1,621,909 | 63,007 | $10,689,767 | |
| SMCI | Super Micro Computer, Inc. | −1,559,200 | 11,100 | $252,747 | |
| WBD | Warner Bros. Discovery, Inc. | −1,522,949 | 1,331,919 | $36,574,495 | |
| DELL | Dell Technologies Inc. | −1,387,586 | 24,300 | $3,988,359 | |
| IBM | International Business Machines Corp | −1,361,526 | 5,048 | $1,223,584 | |
| QCOM | Qualcomm Inc/De | −1,283,067 | 60,833 | $7,834,073 | |
| NKE | NIKE, Inc. | −1,261,228 | 29,882 | $1,578,367 | |
| GOOGL | Alphabet Inc. | −875,531 | 171,591 | $49,342,707 | |
| COIN | Coinbase Global, Inc. | −848,345 | 6,812 | $1,189,443 | |
| AAPL | Apple Inc. | −623,720 | 301,823 | $76,599,659 | |
| CEG | Constellation Energy Corp | −471,940 | 41,360 | $11,549,779 | |
| CAT | Caterpillar Inc | −335,638 | 7,962 | $5,640,758 | |
| F | Ford Motor Co | −285,205 | 133,365 | $1,539,032 | |
| MSTR | Strategy Inc | −234,332 | 23,156 | $2,889,868 | |
| AMGN | Amgen Inc | −224,265 | 2,461 | $865,902 | |
| BRK-B | Berkshire Hathaway Inc | −193,981 | 6,036 | $2,892,451 | |
| APP | AppLovin Corp | −167,946 | 12,454 | $4,956,692 | |
| SLB | Slb Limited/Nv | −131,668 | 17,340 | $891,102 | |
| TECK | Teck Resources Ltd | −119,543 | 20,196 | $1,045,143 | |
| META | Meta Platforms, Inc. | −115,875 | 202,279 | $115,729,883 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| GTLS | Chart Industries Inc | 166,320 | $34,386,660 | |
| PEN | Penumbra Inc | 101,779 | $33,421,170 | |
| AAUC | Allied Gold Corp | 1,002,000 | $31,102,080 | |
| OS | OneStream, Inc. | 1,074,711 | $25,793,064 | |
| DBRG | DigitalBridge Group, Inc. | 1,665,769 | $25,686,157 | |
| MASI | Masimo Corp | 142,800 | $25,399,836 | |
| CSGS | Csg Systems International Inc | 257,088 | $20,551,613 | |
| SNCY | Sun Country Airlines Holdings, LLC | 1,218,670 | $20,132,428 | |
| PPL | PPL Corp | 472,800 | $18,060,960 | |
| ZIM | ZIM Integrated Shipping Services Ltd. | 594,768 | $15,672,136 | |
| CTRA | Coterra Energy Inc. | 412,352 | $14,490,049 | |
| TPH | Tri Pointe Homes, Inc. | 294,100 | $13,743,293 | |
| JHG | Janus Henderson Group PLC | 225,417 | $11,579,671 | |
| PKST | Peakstone Realty Trust | 531,511 | $11,103,264 | |
| WBS | Webster Financial Corp | 145,990 | $10,134,625 | |
| IMXI | International Money Express, Inc. | 630,191 | $9,957,017 | |
| EHAB | Enhabit, Inc. | 645,000 | $9,088,050 | |
| FERG | Ferguson Enterprises Inc. /DE/ | 30,461 | $7,105,332 | |
| JHX | James Hardie Industries plc | 349,531 | $6,620,117 | |
| TERN | Terns Pharmaceuticals, Inc. | 120,976 | $6,377,854 | |
| SN | SharkNinja, Inc. | 59,973 | $6,351,140 | |
| UAA | Under Armour, Inc. | 949,640 | $5,612,371 | |
| VAL | Valaris Ltd | 55,415 | $5,432,886 | |
| BIDU | Baidu, Inc. | 44,090 | $4,912,507 | |
| EXC | Exelon Corp | 98,716 | $4,839,057 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| IBIT | iShares Bitcoin Trust ETF | 9,481,233 | $470,743,218 | |
| ETHA | iShares Ethereum Trust ETF | 9,227,427 | $206,971,187 | |
| FBTC | Fidelity Wise Origin Bitcoin Fund | 2,112,794 | $161,058,286 | |
| FETH | Fidelity Ethereum Fund | 2,074,703 | $61,431,955 | |
| EXAS | EXACT SCIENCES CORP | 413,170 | $41,961,545 | |
| SNOW | Snowflake Inc. | 166,048 | $36,424,289 | |
| ASTS | AST SpaceMobile, Inc. | 443,243 | $32,192,739 | |
| DLTR | Dollar Tree, Inc. | 220,099 | $27,074,377 | |
| GLD | Spdr Gold Trust | 60,000 | $23,778,600 | |
| LVS | Las Vegas Sands Corp | 300,000 | $19,527,000 | |
| LULU | lululemon athletica inc. | 80,000 | $16,624,800 | |
| AL | SUMISHO AIR LEASE CORP | 243,831 | $15,661,265 | |
| NGD | New Gold Inc. /FI | 1,369,532 | $11,928,623 | |
| VRT | Vertiv Holdings Co | 62,511 | $10,127,407 | |
| HUM | Humana Inc | 22,015 | $5,638,701 | |
| HAL | Halliburton Co | 180,000 | $5,086,800 | |
| HPQ | Hp Inc | 197,724 | $4,405,289 | |
| ULTA | Ulta Beauty, Inc. | 7,000 | $4,235,070 | |
| BIIB | Biogen Inc. | 21,295 | $3,747,707 | |
| CCL | Carnival Corp Ltd. | 108,308 | $3,307,725 | |
| NWE | NorthWestern Energy Group, Inc. | 46,512 | $3,001,884 | |
| DKNG | DraftKings Inc. | 77,931 | $2,685,502 | |
| SUI | Sun Communities Inc | 21,451 | $2,657,993 | |
| STE | STERIS plc | 10,432 | $2,644,720 | |
| HTO | H2o America | 53,476 | $2,619,789 | |
| No positions match the current search. | ||||
44 positions ·
$240,376,982 total
· Healthcare only
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| FOLD |
AMICUS THERAPEUTICS, INC.
Healthcare
|
Added | 3,191,610 | $46,150,680 | 19.20% | |
| HOLX |
HOLOGIC INC
Healthcare
|
Added | 465,126 | $35,158,873 | 14.63% | |
| PEN |
Penumbra Inc
Healthcare
|
NEW | 101,779 | $33,421,170 | 13.90% | |
| MASI |
Masimo Corp
Healthcare
|
NEW | 142,800 | $25,399,836 | 10.57% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Added | 15,499 | $14,255,514 | 5.93% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Reduced | 38,595 | $9,434,161 | 3.92% | |
| EHAB |
Enhabit, Inc.
Healthcare
|
NEW | 645,000 | $9,088,050 | 3.78% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Added | 36,292 | $7,893,147 | 3.28% | |
| TERN |
Terns Pharmaceuticals, Inc.
Healthcare
|
NEW | 120,976 | $6,377,854 | 2.65% | |
| BMY |
Bristol Myers Squibb Co
Healthcare
|
Added | 80,513 | $4,883,113 | 2.03% | |
| ALNY |
Alnylam Pharmaceuticals, Inc.
Healthcare
|
Reduced | 13,115 | $4,339,360 | 1.81% | |
| DOCS |
Doximity, Inc.
Healthcare
|
NEW | 163,030 | $3,798,599 | 1.58% | |
| SEM |
Select Medical Holdings Corp
Healthcare
|
NEW | 206,810 | $3,368,934 | 1.40% | |
| MRNA |
Moderna, Inc.
Healthcare
|
NEW | 64,500 | $3,276,600 | 1.36% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
Added | 10,927 | $2,956,736 | 1.23% | |
| TALK |
Talkspace, Inc.
Healthcare
|
NEW | 500,000 | $2,587,500 | 1.08% | |
| APLS |
Apellis Pharmaceuticals, Inc.
Healthcare
|
NEW | 56,266 | $2,263,581 | 0.94% | |
| MDT |
Medtronic plc
Healthcare
|
Added | 22,291 | $1,931,515 | 0.80% | |
| SYK |
Stryker Corp
Healthcare
|
Added | 5,173 | $1,699,796 | 0.71% | |
| MCK |
Mckesson Corp
Healthcare
|
Added | 1,823 | $1,577,551 | 0.66% | |
| TMO |
Thermo Fisher Scientific Inc.
Healthcare
|
Added | 3,188 | $1,566,997 | 0.65% | |
| PFE |
Pfizer Inc
Healthcare
|
Added | 53,629 | $1,505,902 | 0.63% | |
| CVS |
CVS HEALTH Corp
Healthcare
|
Added | 20,265 | $1,455,432 | 0.61% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 11,920 | $1,433,856 | 0.60% | |
| VRTX |
Vertex Pharmaceuticals Inc / Ma
Healthcare
|
Added | 2,947 | $1,315,953 | 0.55% | |
| AZN |
Astrazeneca PLC
Healthcare
|
NEW | 5,962 | $1,175,825 | 0.49% | |
| ABT |
Abbott Laboratories
Healthcare
|
Reduced | 10,896 | $1,118,692 | 0.47% | |
| QGEN |
Qiagen N.V.
Healthcare
|
NEW | 27,820 | $1,113,912 | 0.46% | |
| ISRG |
Intuitive Surgical Inc
Healthcare
|
Added | 2,400 | $1,106,376 | 0.46% | |
| CI |
Cigna Group
Healthcare
|
Added | 4,062 | $1,083,538 | 0.45% | |
| GILD |
Gilead Sciences, Inc.
Healthcare
|
Reduced | 7,300 | $1,017,401 | 0.42% | |
| A |
Agilent Technologies, Inc.
Healthcare
|
Added | 7,897 | $900,100 | 0.37% | |
| AMGN |
Amgen Inc
Healthcare
|
Reduced | 2,461 | $865,902 | 0.36% | |
| RMD |
Resmed Inc
Healthcare
|
Added | 3,303 | $741,457 | 0.31% | |
| DHR |
Danaher Corp /De/
Healthcare
|
Reduced | 3,330 | $631,368 | 0.26% | |
| THC |
Tenet Healthcare Corp
Healthcare
|
NEW | 3,033 | $572,357 | 0.24% | |
| REGN |
Regeneron Pharmaceuticals, Inc.
Healthcare
|
Reduced | 700 | $540,848 | 0.22% | |
| ELV |
Elevance Health, Inc.
Healthcare
|
Added | 1,550 | $453,762 | 0.19% | |
| ZTS |
Zoetis Inc.
Healthcare
|
Added | 3,703 | $437,731 | 0.18% | |
| HCA |
HCA Healthcare, Inc.
Healthcare
|
Added | 900 | $425,916 | 0.18% | |
| IDXX |
Idexx Laboratories Inc /De
Healthcare
|
Added | 611 | $343,314 | 0.14% | |
| EW |
Edwards Lifesciences Corp
Healthcare
|
NEW | 3,560 | $285,084 | 0.12% | |
| COR |
Cencora, Inc.
Healthcare
|
NEW | 700 | $219,898 | 0.09% | |
| GEHC |
GE HealthCare Technologies Inc.
Healthcare
|
NEW | 2,849 | $202,791 | 0.08% |