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Livermore
Livermore
ZHEN

Capula Management Ltd

SEC CIK
0001557017
Latest filing
Aug 14, 2026

Holdings in Q3 2022

Holdings as of Sep 30, 2022, filed Nov 14, 2022. Long positions only; changes compare share counts with Q2 2022.

Institution overview
Positions
294
+199 vs. Q2 2022
Portfolio value
$814.1M
+$101.9M (+14.3%) vs. Q2 2022
Filed
Nov 14, 2022
SEC
Holdings of Capula Management Ltd in Q3 2022
SecurityClassSharesValue% of portfolioShare changeActionHistory
AAPLApple Inc.Stock404,298$55.9M6.9%+96,994+31.6%AddedHistory
SPYSPDR S&P 500 ETF TrustETF139,781$49.9M6.1%−77,291−35.6%ReducedHistory
GOOGLAlphabet Inc.Stock402,254$38.5M4.7%+251,934+167.6%AddedConverted for a 20-for-1 splitHistory
AMZNAmazon Com IncStock281,615$31.8M3.9%+114,435+68.5%AddedHistory
MSFTMicrosoft CorpStock112,273$26.1M3.2%+18,604+19.9%AddedHistory
IBMInternational Business Machines CorpStock179,078$21.3M2.6%+179,078NewHistory
CVXChevron CorpStock125,508$18.0M2.2%+125,154+35,354.2%AddedHistory
CVSCVS Health CorpStock187,166$17.9M2.2%+9,999+5.6%AddedHistory
XOMExxonMobil Holdings CorpCOM180,787$15.8M1.9%+149,629+480.2%AddedHistory
Invesco QQQ Trust Series I46090E103ETF58,665$15.7M1.9%+42,684+267.1%Added–
BACBank of America CorpStock475,672$14.4M1.8%−261,377−35.5%ReducedHistory
GSGoldman Sachs Group IncStock45,488$13.3M1.6%+18,096+66.1%AddedHistory
MSMorgan StanleyStock167,709$13.3M1.6%+61,224+57.5%AddedHistory
DIASPDR Dow Jones Industrial Average ETF TrustUT SER 140,416$11.6M1.4%−82,219−67.0%ReducedHistory
LMTLockheed Martin CorpStock29,888$11.5M1.4%+29,888NewHistory
State Street Health Care Select Sector SPDR ETF81369Y209ETF91,191$11.0M1.4%+88,555+3,359.4%Added–
AMGNAmgen IncStock47,571$10.7M1.3%+47,571NewHistory
UPSUnited Parcel Service IncStock64,270$10.4M1.3%+36,160+128.6%AddedHistory
NVDANVIDIA CorpStock84,264$10.2M1.3%−93,250−52.5%ReducedHistory
PEPPepsiCo IncStock61,295$10.0M1.2%+61,295NewHistory
METAMeta Platforms, Inc.Stock69,264$9.40M1.2%−8,077−10.4%ReducedHistory
AVGOBroadcom Inc.Stock18,071$8.02M1.0%+6,535+56.6%AddedHistory
CCitigroup IncStock186,367$7.77M1.0%+122,166+190.3%AddedHistory
PGProcter & Gamble CoStock59,062$7.46M0.9%+59,062NewHistory
State Street Consumer Staples Select Sector SPDR ETF81369Y308ETF107,176$7.15M0.9%+107,176New–
MDTMedtronic plcStock88,385$7.14M0.9%+88,385NewHistory
JPMJPMorgan Chase & CoStock67,729$7.08M0.9%+52,050+332.0%AddedHistory
TSLATesla, Inc.Stock26,310$6.98M0.9%−23,049−46.7%ReducedConverted for a 3-for-1 splitHistory
GEGeneral Electric CoStock102,207$6.33M0.8%+102,207NewHistory
WFCWells Fargo & CompanyStock154,036$6.20M0.8%+110,685+255.3%AddedHistory
KOCoca Cola CoStock108,793$6.09M0.7%+5,757+5.6%AddedHistory
ABBVAbbVie Inc.Stock44,397$5.96M0.7%+44,397NewHistory
CSXCSX CorpStock222,802$5.93M0.7%+222,802NewHistory
LRCXLam Research CorpCOM15,974$5.85M0.7%−1,849−10.4%ReducedHistory
TXNTexas Instruments IncStock37,544$5.81M0.7%+14,530+63.1%AddedHistory
METMetlife IncStock95,446$5.80M0.7%+52,394+121.7%AddedHistory
VanEck Semiconductor ETF92189F676ETF29,231$5.41M0.7%+29,231New–
ABTAbbott LaboratoriesStock54,809$5.30M0.7%+54,809NewHistory
HDHome Depot, Inc.Stock19,149$5.28M0.6%+17,704+1,225.2%AddedHistory
MCDMcDonalds CorpStock22,523$5.20M0.6%+5,806+34.7%AddedHistory
iShares Tr464287184CHINA LG-CAP ETF200,000$5.17M0.6%−182,214−47.7%Reduced–
iShares Tr46428743220 YR TR BD ETF50,200$5.14M0.6%+50,200New–
UNHUnitedHealth Group IncStock9,874$4.99M0.6%+9,874NewHistory
PRUPrudential Financial IncStock57,989$4.97M0.6%+57,989NewHistory
RTXRTX CorpStock58,773$4.81M0.6%+43,954+296.6%AddedHistory
CSCOCisco Systems, Inc.Stock119,821$4.79M0.6%+112,087+1,449.3%AddedHistory
QCOMQualcomm IncStock41,972$4.74M0.6%+11,919+39.7%AddedHistory
PYPLPayPal Holdings, Inc.Stock50,122$4.31M0.5%+50,122NewHistory
AMDAdvanced Micro Devices IncStock65,996$4.18M0.5%−18,390−21.8%ReducedHistory
CLVTClarivate PLCORD SHS431,213$4.05M0.5%+431,213NewHistory
iShares Tr464287739U.S. REAL ES ETF49,315$4.01M0.5%+49,315New–
MCHPMicrochip Technology IncStock64,939$3.96M0.5%+64,939NewHistory
COSTCostco Wholesale CorpStock8,241$3.89M0.5%−3,065−27.1%ReducedHistory
State Street Consumer Discretionary Select Sector SPDR ETF81369Y407ETF27,320$3.89M0.5%+27,320New–
HONHoneywell International IncCOM23,253$3.88M0.5%−142,180−85.9%ReducedHistory
TSMTaiwan Semiconductor Manufacturing Co LtdADR55,890$3.83M0.5%−78,138−58.3%ReducedHistory
NSCNorfolk Southern CorpStock18,275$3.83M0.5%+18,275NewHistory
EMREmerson Electric CoStock51,763$3.79M0.5%−19,848−27.7%ReducedHistory
iShares Russell 2000 ETF464287655ETF22,014$3.63M0.4%−166,147−88.3%Reduced–
AMATApplied Materials IncStock43,102$3.53M0.4%+43,102NewHistory
CAGConagra Brands Inc.Stock104,702$3.42M0.4%+102,413+4,474.1%AddedHistory
INTCIntel CorpStock130,875$3.37M0.4%−9,422−6.7%ReducedHistory
MAMastercard IncStock11,484$3.27M0.4%−3,765−24.7%ReducedHistory
State Street SPDR S&P Regional Banking ETF78464A698ETF54,704$3.22M0.4%+12,281+28.9%Added–
NEENextera Energy IncStock40,944$3.21M0.4%+5,007+13.9%AddedHistory
BABoeing CoStock25,692$3.11M0.4%+25,692NewHistory
SLBSLB LimitedStock86,454$3.10M0.4%+63,990+284.9%AddedHistory
IPInternational Paper CoCOM97,433$3.09M0.4%+97,433NewHistory
MPCMarathon Petroleum CorpStock30,975$3.08M0.4%+30,975NewHistory
State Street SPDR S&P Biotech ETF78464A870ETF38,171$3.03M0.4%+38,171New–
MPTMedical Properties Trust IncCOM254,914$3.02M0.4%+254,914NewHistory
OXYOccidental Petroleum CorpStock48,874$3.00M0.4%+48,874NewHistory
HASHasbro, Inc.COM44,140$2.98M0.4%+44,140NewHistory
CMGChipotle Mexican Grill IncCOM1,962$2.95M0.4%+1,962NewHistory
DHIHorton D R IncCOM41,160$2.77M0.3%+41,160NewHistory
WDCWestern Digital CorpCOM84,986$2.77M0.3%−527,819−86.1%ReducedHistory
GMGeneral Motors CoCOM84,663$2.72M0.3%+6,978+9.0%AddedHistory
VVisa Inc.Stock15,264$2.71M0.3%+28+0.2%AddedHistory
VLOValero Energy CorpStock25,331$2.71M0.3%+25,331NewHistory
WYNNWynn Resorts LtdCOM40,203$2.53M0.3%+8,072+25.1%AddedHistory
VZVerizon Communications IncStock64,351$2.44M0.3%+64,351NewHistory
State Street Technology Select Sector SPDR ETF81369Y803ETF18,534$2.20M0.3%+18,534New–
ADBEAdobe Inc.Stock7,864$2.16M0.3%−6,395−44.8%ReducedHistory
CMCSAComcast CorpStock72,457$2.13M0.3%+49,917+221.5%AddedHistory
CATCaterpillar IncStock12,735$2.09M0.3%−59,490−82.4%ReducedHistory
SABRSabre CorpCOM393,559$2.03M0.2%+393,559NewHistory
ROPRoper Technologies IncStock5,351$1.92M0.2%+5,351NewHistory
TRVTravelers Companies, Inc.Stock12,327$1.89M0.2%+12,327NewHistory
ARK Innovation ETF00214Q104ETF48,546$1.83M0.2%+48,546New–
DUKDuke Energy CORPStock18,579$1.73M0.2%+18,579NewHistory
CHRWC. H. Robinson Worldwide, Inc.COM NEW17,924$1.73M0.2%+17,924NewHistory
CMICummins IncStock8,229$1.68M0.2%+8,229NewHistory
KKellanovaStock24,009$1.67M0.2%+24,009NewHistory
TMUST-Mobile US, Inc.Stock11,167$1.50M0.2%+11,167NewHistory
ADIAnalog Devices IncStock9,940$1.39M0.2%+9,940NewHistory
ANSSAnsys IncCOM6,076$1.35M0.2%+6,076NewHistory
TTWOTake Two Interactive Software IncCOM12,097$1.32M0.2%+6,437+113.7%AddedHistory
INTUIntuit Inc.Stock3,374$1.31M0.2%+2,230+194.9%AddedHistory
KLACKLA CorpCOM NEW4,281$1.30M0.2%+4,281NewHistory
CRWDCrowdStrike Holdings, Inc.Stock6,840$1.13M0.1%+6,840NewHistory

Options (169)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

The largest 100 of 169 by value.

Option positions of Capula Management Ltd in Q3 2022
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$297.0M$260.1M
AAPLApple Inc.Stock$171.6M$221.8M
iShares Russell 2000 ETF464287655ETF$274.5M$93.2M
MSFTMicrosoft CorpStock$119.1M$232.7M
AMZNAmazon Com IncStock$116.2M$104.4M
GOOGLAlphabet Inc.Stock$101.7M$113.1M
JNJJohnson & JohnsonStock$64.5M$112.9M
TSLATesla, Inc.Stock$58.2M$92.7M
IBMInternational Business Machines CorpStock$51.1M$73.4M
UNHUnitedHealth Group IncStock$53.8M$50.1M
Invesco QQQ Trust Series I46090E103ETF$45.7M$46.1M
DIASPDR Dow Jones Industrial Average ETF TrustUT SER 1$32.4M$58.3M
CVSCVS Health CorpStock$39.4M$49.0M
CSCOCisco Systems, Inc.Stock$18.3M$68.8M
MRKMerck & Co., Inc.Stock$12.4M$68.4M
iShares Tr464287184CHINA LG-CAP ETF$27.5M$50.3M
PEPPepsiCo IncStock$35.3M$36.1M
XOMExxonMobil Holdings CorpCOM$27.4M$44.0M
VVisa Inc.Stock$16.3M$54.6M
WMTWalmart Inc.Stock$27.2M$43.1M
MCDMcDonalds CorpStock$21.2M$45.1M
JPMJPMorgan Chase & CoStock$29.3M$36.6M
UPSUnited Parcel Service IncStock$24.8M$41.0M
TXNTexas Instruments IncStock$26.3M$38.6M
METAMeta Platforms, Inc.Stock$25.9M$36.6M
BMYBristol Myers Squibb CoStock$16.1M$45.4M
BACBank of America CorpStock$27.7M$31.7M
AMGNAmgen IncStock$29.1M$29.4M
KOCoca Cola CoStock$18.4M$39.4M
State Street Energy Select Sector SPDR ETF81369Y506ETF$4.71M$52.1M
MSMorgan StanleyStock$28.4M$28.1M
ABTAbbott LaboratoriesStock$22.8M$32.0M
MDTMedtronic plcStock$17.4M$34.6M
LMTLockheed Martin CorpStock$25.9M$26.0M
CVXChevron CorpStock$25.9M$24.9M
MAMastercard IncStock$20.5M$29.2M
GILDGilead Sciences, Inc.Stock$22.5M$25.9M
State Street SPDR S&P Regional Banking ETF78464A698ETF$23.9M$24.1M
State Street Health Care Select Sector SPDR ETF81369Y209ETF$25.1M$22.3M
NFLXNetflix IncStock$17.7M$29.5M
LOWLowes Companies IncStock$22.2M$24.9M
State Street Consumer Discretionary Select Sector SPDR ETF81369Y407ETF$26.8M$19.8M
CATCaterpillar IncStock$22.2M$24.2M
NVDANVIDIA CorpStock$20.6M$25.2M
CMGChipotle Mexican Grill IncCOM$22.1M$22.1M
NEENextera Energy IncStock$24.5M$18.5M
WFCWells Fargo & CompanyStock$18.6M$23.9M
CCitigroup IncStock$19.9M$20.8M
AVGOBroadcom Inc.Stock$16.1M$24.4M
PGProcter & Gamble CoStock$15.4M$25.0M
GSGoldman Sachs Group IncStock$23.9M$15.4M
RTXRTX CorpStock$17.8M$20.9M
UNPUnion Pacific CorpStock$4.09M$34.1M
HDHome Depot, Inc.Stock$20.3M$17.4M
iShares Tr464287739U.S. REAL ES ETF$12.1M$25.7M
METMetlife IncStock$14.7M$21.3M
ABBVAbbVie Inc.Stock$19.5M$16.2M
HONHoneywell International IncCOM$16.2M$18.6M
PRUPrudential Financial IncStock$15.4M$15.4M
STZConstellation Brands, Inc.Stock$14.9M$14.9M
PFEPfizer IncStock$10.1M$19.7M
DDominion Energy, IncStock–$29.0M
State Street Financial Select Sector SPDR ETF81369Y605ETF$5.59M$21.2M
ORCLOracle CorpStock$6.17M$20.1M
VRTXVertex Pharmaceuticals IncStock$11.6M$14.5M
DISWalt Disney CoStock$10.5M$15.3M
INTCIntel CorpStock$5.95M$19.8M
PMPhilip Morris International Inc.Stock$4.08M$20.0M
CMICummins IncStock$12.0M$12.0M
TSMTaiwan Semiconductor Manufacturing Co LtdADR$4.57M$19.4M
KDPKeurig Dr Pepper Inc.COM$11.9M$11.9M
QCOMQualcomm IncStock$8.44M$14.4M
State Street Consumer Staples Select Sector SPDR ETF81369Y308ETF$10.3M$12.5M
FISFidelity National Information Services, Inc.Stock–$22.7M
COSTCostco Wholesale CorpStock$6.66M$15.1M
ADBEAdobe Inc.Stock$4.38M$17.2M
AMDAdvanced Micro Devices IncStock$9.05M$12.5M
PYPLPayPal Holdings, Inc.Stock$7.96M$13.4M
State Street SPDR S&P Biotech ETF78464A870ETF$9.79M$11.1M
SCHWSchwab Charles CorpStock$8.61M$11.1M
LLYEli Lilly & CoStock$4.75M$14.0M
DEDeere & CoStock$6.71M$11.8M
CSXCSX CorpStock$7.10M$11.3M
LRCXLam Research CorpCOM$8.86M$9.55M
VanEck Semiconductor ETF92189F676ETF$8.53M$9.18M
NKENIKE, Inc.Stock$2.91M$13.7M
OXYOccidental Petroleum CorpStock$3.35M$13.2M
NSCNorfolk Southern CorpStock$5.07M$11.4M
AMTAmerican Tower CorpREIT$5.52M$10.7M
CAGConagra Brands Inc.Stock$9.14M$6.85M
CRMSalesforce, Inc.Stock$3.12M$12.3M
ARK Innovation ETF00214Q104ETF$6.52M$8.69M
SLBSLB LimitedStock$8.95M$6.23M
AXPAmerican Express CoStock$4.98M$10.1M
APDAir Products & Chemicals, Inc.Stock$7.00M$7.68M
TMOThermo Fisher Scientific Inc.Stock–$14.7M
KKellanovaStock$7.31M$7.31M
MKCMcCormick & Co IncStock$7.13M$7.13M
MCHPMicrochip Technology IncStock$11.4M$2.09M
TMUST-Mobile US, Inc.Stock$2.84M$10.5M

Sold out since Q2 2022 (31)

Positions held at the end of Q2 2022 that are gone from this filing.

Positions of Capula Management Ltd sold out since Q2 2022
SecurityClassShares in Q2 2022Value in Q2 2022% of portfolio in Q2 2022History
DOWDow Inc.Stock285,819$14.8M2.1%History
WMTWalmart Inc.Stock63,619$7.74M1.1%History
DBX ETF Tr233051879XTRACK HRVST CSI220,000$7.52M1.1%–
ICEIntercontinental Exchange, Inc.Stock69,911$6.57M0.9%History
APDAir Products & Chemicals, Inc.Stock26,509$6.38M0.9%History
HBANHuntington Bancshares IncCOM491,654$5.92M0.8%History
CRMSalesforce, Inc.Stock31,035$5.12M0.7%History
THCTenet Healthcare CorpCOM NEW89,153$4.69M0.7%History
TMOThermo Fisher Scientific Inc.Stock8,031$4.36M0.6%History
DHRDanaher CorpStock14,876$3.77M0.5%History
LLYEli Lilly & CoStock11,509$3.73M0.5%History
State Street Industrial Select Sector SPDR ETF81369Y704ETF39,213$3.42M0.5%–
MUMicron Technology IncStock54,902$3.04M0.4%History
KMIKinder Morgan, Inc.Stock177,638$2.98M0.4%History
State Street Utilities Select Sector SPDR ETF81369Y886ETF41,471$2.91M0.4%–
BBWIBath & Body Works, Inc.COM106,605$2.87M0.4%History
PMPhilip Morris International Inc.Stock28,225$2.79M0.4%History
ETNEaton Corp plcStock15,795$1.99M0.3%History
NFLXNetflix IncStock10,366$1.81M0.3%History
State Street Materials Select Sector SPDR ETF81369Y100ETF19,430$1.43M0.2%–
SPDR Series Trust78464A755ST STR SP METAL28,592$1.24M0.2%–
ELVElevance Health, Inc.Stock1,685$813.0K0.1%History
TEAMAtlassian CorpCL A3,698$693.0K0.1%History
ONONOn Holding AGStock33,539$593.0K0.1%History
SBUXStarbucks CorpStock6,418$490.0K0.1%History
NOWServiceNow, Inc.Stock810$385.0K0.1%History
ORCLOracle CorpStock5,302$370.0K0.1%History
NKTRNektar TherapeuticsCOM21,648$82.0K<0.1%History
BMYBristol Myers Squibb CoStock1,023$79.0K<0.1%History
APAAPA CorpStock2,073$72.0K<0.1%History
PSFEPaysafe LtdORD23,637$46.0K<0.1%History