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Livermore
Livermore
ZHEN

Capula Management Ltd

SEC CIK
0001557017
Latest filing
Aug 14, 2026

Holdings in Q2 2023

Holdings as of Jun 30, 2023, filed Aug 14, 2023. Long positions only; changes compare share counts with Q1 2023.

Institution overview
Positions
263
−105 vs. Q1 2023
Portfolio value
$830.9M
−$319.3M (−27.8%) vs. Q1 2023
Filed
Aug 14, 2023
SEC
Holdings of Capula Management Ltd in Q2 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
Vanguard Intermediate-Term Corporate Bond ETF92206C870ETF2,401,433$189.8M22.8%+2,401,433New–
SPYSPDR S&P 500 ETF TrustETF361,795$160.4M19.3%−895,430−71.2%ReducedHistory
Invesco QQQ Trust Series I46090E103ETF276,200$102.0M12.3%+50,357+22.3%Added–
METAMeta Platforms, Inc.Stock301,760$86.6M10.4%+299,613+13,955.0%AddedHistory
GOOGLAlphabet Inc.Stock416,725$49.9M6.0%+406,021+3,793.2%AddedHistory
GOOGAlphabet Inc.Stock204,060$24.7M3.0%+197,566+3,042.3%AddedHistory
NATINational Instruments CorpCOM197,048$11.3M1.4%+197,048NewHistory
iShares Tr464287234MSCI EMG MKT ETF260,200$10.3M1.2%+260,200New–
DICEDICE Therapeutics, Inc.COM213,800$9.93M1.2%+213,800NewHistory
ISEEIVERIC bio, Inc.COM211,500$8.32M1.0%+211,500NewHistory
SBUXStarbucks CorpStock72,636$7.20M0.9%+61,758+567.7%AddedHistory
HZNPHorizon Therapeutics Public Ltd CoSHS64,640$6.65M0.8%−99,946−60.7%ReducedHistory
UNVRUnivar Solutions Inc.COM181,507$6.51M0.8%+112,242+162.0%AddedHistory
SYNHSyneos Health, Inc.CL A142,507$6.01M0.7%+142,507NewHistory
ABBVAbbVie Inc.Stock33,604$4.53M0.5%+31,906+1,879.0%AddedHistory
BMYBristol Myers Squibb CoStock70,603$4.52M0.5%−842−1.2%ReducedHistory
iShares Inc464286400MSCI BRAZIL ETF75,302$2.44M0.3%+58,902+359.2%Added–
CVNACarvana Co.CL A83,340$2.16M0.3%+30,800+58.6%AddedHistory
IMGNImmunoGen, Inc.COM111,320$2.10M0.3%+111,320NewHistory
NKENIKE, Inc.Stock16,632$1.84M0.2%−79,237−82.7%ReducedHistory
CAGConagra Brands Inc.Stock50,208$1.69M0.2%+43,791+682.4%AddedHistory
AMDAdvanced Micro Devices IncStock14,630$1.67M0.2%+13,095+853.1%AddedHistory
UPSTUpstart Holdings, Inc.COM42,580$1.52M0.2%−6,809−13.8%ReducedHistory
GLDSPDR Gold TrustETF8,140$1.45M0.2%−11,860−59.3%ReducedHistory
State Street Consumer Staples Select Sector SPDR ETF81369Y308ETF19,500$1.45M0.2%−40,329−67.4%Reduced–
GMGeneral Motors CoCOM33,852$1.31M0.2%−41−0.1%ReducedHistory
BLDRBuilders FirstSource, Inc.Stock9,160$1.25M0.1%+3,640+65.9%AddedHistory
WSCWillScot Holdings CorpCOM CL A23,900$1.14M0.1%+18,660+356.1%AddedHistory
ETRNMidstream Co LLCCOM118,120$1.13M0.1%+118,120NewHistory
LNGCheniere Energy, Inc.COM NEW7,220$1.10M0.1%+3,726+106.6%AddedHistory
WWayfair Inc.CL A16,560$1.08M0.1%+16,560NewHistory
KIMKimco Realty CorpCOM51,780$1.02M0.1%+51,780NewHistory
LYFTLyft, Inc.CL A COM104,840$1.01M0.1%+75,460+256.8%AddedHistory
MODModine Manufacturing CoCOM30,420$1.00M0.1%+30,420NewHistory
iShares Russell 2000 ETF464287655ETF5,328$997.8K0.1%−9,526−64.1%Reduced–
SDGRSchrodinger, Inc.COM19,920$994.4K0.1%+19,920NewHistory
DFHDream Finders Homes, Inc.COM CL A38,960$958.0K0.1%+38,960NewHistory
UNHUnitedHealth Group IncStock1,866$896.9K0.1%−6,396−77.4%ReducedHistory
COINCoinbase Global, Inc.COM CL A12,200$872.9K0.1%+12,200NewHistory
KSSKOHLS CorpStock37,540$865.3K0.1%+37,540NewHistory
MUMicron Technology IncStock13,505$852.3K0.1%+12,432+1,158.6%AddedHistory
PLABPhotronics IncCOM32,680$842.8K0.1%+32,680NewHistory
MHOM/I Homes, Inc.COM9,380$817.8K0.1%+960+11.4%AddedHistory
OPKOpko Health, Inc.COM372,680$808.7K0.1%+372,680NewHistory
PFSProvident Financial Services IncCOM49,167$803.4K0.1%+49,167NewHistory
DBX ETF Tr233051879XTRACK HRVST CSI30,000$802.8K0.1%+30,000New–
IDCCInterDigital, Inc.COM8,180$789.8K0.1%+8,180NewHistory
GFFGriffon CorpCOM19,440$783.4K0.1%+19,440NewHistory
CCChemours CoStock21,200$782.1K0.1%+21,200NewHistory
TEXTerex CorpStock13,040$780.2K0.1%+13,040NewHistory
CARAvis Budget Group, Inc.COM3,380$772.9K0.1%+1,971+139.9%AddedHistory
FFord Motor CoStock50,480$763.8K0.1%+50,480NewHistory
ABRArbor Realty Trust IncCOM51,060$756.7K0.1%+51,060NewHistory
UDMYUdemy, Inc.COM70,420$755.6K0.1%+70,420NewHistory
ANFAbercrombie & Fitch CoCL A19,900$749.8K0.1%+19,900NewHistory
TMHCTaylor Morrison Home CorpCOM15,360$749.1K0.1%+15,360NewHistory
AFRMAffirm Holdings, Inc.COM CL A48,780$747.8K0.1%+48,780NewHistory
TOLToll Brothers, Inc.COM9,420$744.8K0.1%+9,420NewHistory
GPORGulfport Energy CorpCOMMON SHARES7,060$741.8K0.1%+7,060NewHistory
MLIMueller Industries IncCOM8,460$738.4K0.1%+8,460NewHistory
CWHCamping World Holdings, Inc.CL A24,180$727.8K0.1%+24,180NewHistory
ALBAlbemarle CorpStock3,260$727.3K0.1%+3,260NewHistory
GAPGap IncCOM80,860$722.1K0.1%+80,860NewHistory
PHMPultegroup IncCOM9,240$717.8K0.1%−4,398−32.2%ReducedHistory
VSHVishay Intertechnology IncCOM24,300$714.4K0.1%+24,300NewHistory
TPHTri Pointe Homes, Inc.COM21,480$705.8K0.1%−1,440−6.3%ReducedHistory
DYDycom Industries IncCOM6,180$702.4K0.1%+6,180NewHistory
LTHMLivent Corp.COM25,400$696.7K0.1%+25,400NewHistory
GHLGreenhill & Co IncCOM47,272$692.5K0.1%+47,272NewHistory
AGIOAgios Pharmaceuticals, Inc.COM24,380$690.4K0.1%+4,060+20.0%AddedHistory
DANDANA IncCOM40,560$689.5K0.1%+40,560NewHistory
SGRYSurgery Partners, Inc.Stock15,240$685.6K0.1%+15,240NewHistory
NAVINavient CorpCOM36,540$678.9K0.1%+36,540NewHistory
MSTRStrategy IncStock1,960$671.1K0.1%+1,960NewHistory
DKDelek US Holdings, Inc.COM28,000$670.6K0.1%+28,000NewHistory
HTZHertz Global Holdings, IncCOM NEW36,420$669.8K0.1%+36,420NewHistory
MDCSekisui House U.S., Inc.COM14,300$668.8K0.1%+14,300NewHistory
SLMSLM CorpCOM40,920$667.8K0.1%+40,920NewHistory
GERNGeron CorpCOM207,620$666.5K0.1%+207,620NewHistory
WMBWilliams Companies, Inc.COM20,400$665.7K0.1%+20,400NewHistory
THOThor Industries IncCOM6,400$662.4K0.1%+6,400NewHistory
BFHBread Financial Holdings, Inc.COM21,040$660.4K0.1%+21,040NewHistory
ODPODP CorpCOM14,080$659.2K0.1%+14,080NewHistory
WORWorthington Enterprises, Inc.COM9,460$657.2K0.1%+9,460NewHistory
MFAMfa Financial, Inc.COM58,200$654.2K0.1%+58,200NewHistory
VSATViasat IncCOM15,760$650.3K0.1%+15,760NewHistory
PMTPennyMac Mortgage Investment TrustCOM48,200$649.7K0.1%+48,200NewHistory
BPMCBlueprint Medicines CorpCOM10,280$649.7K0.1%+10,280NewHistory
HCCWarrior Met Coal, Inc.COM16,680$649.7K0.1%+16,680NewHistory
MRNAModerna, Inc.Stock5,347$649.7K0.1%+5,037+1,624.8%AddedHistory
ACTEnact Holdings, Inc.COM25,840$649.4K0.1%+25,840NewHistory
ELANElanco Animal Health IncCOM64,440$648.3K0.1%+64,440NewHistory
CNRCore Natural Resources, Inc.COM9,560$648.3K0.1%+1,080+12.7%AddedHistory
DDOGDatadog, Inc.CL A COM6,524$641.8K0.1%+6,524NewHistory
PRGPROG Holdings, Inc.Stock19,920$639.8K0.1%−1,480−6.9%ReducedHistory
SESea LtdSPONSORD ADS11,000$638.4K0.1%+9,655+717.8%AddedHistory
TNCTennant CoCOM7,860$637.5K0.1%+7,860NewHistory
MGRCMcGrath RentcorpCOM6,880$636.3K0.1%+6,880NewHistory
WNCWabash National CorpCOM24,720$633.8K0.1%+24,720NewHistory
CDPCopt Defense PropertiesREIT26,200$622.3K0.1%+26,200NewHistory

Options (83)

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

Option positions of Capula Management Ltd in Q2 2023
SecurityClassPutsCalls
AAPLApple Inc.Stock$248.6M$155.3M
SPYSPDR S&P 500 ETF TrustETF$299.0M$93.1M
UPSUnited Parcel Service IncStock$183.1M$184.0M
Invesco QQQ Trust Series I46090E103ETF$166.2M$197.6M
iShares Russell 2000 ETF464287655ETF$149.6M$212.7M
MSFTMicrosoft CorpStock$128.8M$93.3M
GOOGLAlphabet Inc.Stock$41.8M$32.9M
IBMInternational Business Machines CorpStock$2.41M$68.4M
JPMJPMorgan Chase & CoStock$19.9M$40.8M
AMZNAmazon Com IncStock$28.0M$30.0M
CSCOCisco Systems, Inc.Stock$19.3M$33.7M
SBUXStarbucks CorpStock$25.6M$25.5M
iShares Tr464287234MSCI EMG MKT ETF$39.6M–
NVDANVIDIA CorpStock$12.1M$22.3M
HZNPHorizon Therapeutics Public Ltd CoSHS–$30.9M
NKENIKE, Inc.Stock$15.4M$15.4M
PGProcter & Gamble CoStock–$29.9M
METAMeta Platforms, Inc.Stock$14.7M$14.6M
State Street Energy Select Sector SPDR ETF81369Y506ETF–$28.4M
QCOMQualcomm IncStock$14.1M$12.6M
BMYBristol Myers Squibb CoStock$12.8M$12.8M
ABBVAbbVie Inc.Stock$5.75M$19.2M
WMTWalmart Inc.Stock$10.5M$13.8M
EMREmerson Electric CoStock$11.6M$11.6M
TSLATesla, Inc.Stock$10.7M$11.7M
NFLXNetflix IncStock$9.69M$9.69M
MCDMcDonalds CorpStock$5.97M$13.2M
JNJJohnson & JohnsonStock$9.93M$8.28M
COSTCostco Wholesale CorpStock$5.81M$11.3M
AMDAdvanced Micro Devices IncStock$7.65M$8.94M
AVGOBroadcom Inc.Stock$7.55M$7.72M
TXNTexas Instruments IncStock$7.99M$5.92M
ADBEAdobe Inc.Stock$6.99M$6.75M
RTXRTX CorpStock$7.54M$6.17M
MSMorgan StanleyStock$6.66M$6.66M
LRCXLam Research CorpCOM$5.27M$7.46M
INTCIntel CorpStock$6.11M$5.75M
INTUIntuit Inc.Stock$5.18M$5.91M
DDDuPont de Nemours, Inc.COM$3.21M$7.86M
WDAYWorkday, Inc.CL A$4.74M$4.74M
AMATApplied Materials IncStock$4.74M$4.52M
CVXChevron CorpStock$4.41M$4.41M
PDDPDD Holdings Inc.SPONSORED ADS$4.34M$4.32M
BACBank of America CorpStock$4.30M$4.30M
ISRGIntuitive Surgical IncCOM NEW$2.94M$5.61M
ATVIActivision Blizzard, Inc.COM–$8.43M
MUMicron Technology IncStock$3.71M$4.30M
BKNGBooking Holdings Inc.Stock$3.51M$4.32M
CMCSAComcast CorpStock$3.44M$3.68M
MDLZMondelez International, Inc.Stock$3.48M$3.56M
UNHUnitedHealth Group IncStock$3.36M$3.36M
HSICHenry Schein IncCOM$6.72M–
ADIAnalog Devices IncStock$3.35M$3.35M
TMUST-Mobile US, Inc.Stock$3.24M$2.85M
GMGeneral Motors CoCOM$5.78M–
SGENSeagen Inc.COM–$5.77M
HONHoneywell International IncCOM$539.5K$4.90M
KHCKraft Heinz CoStock–$5.33M
MDTMedtronic plcStock$2.58M$2.58M
MRNAModerna, Inc.Stock$2.66M$2.31M
GEGeneral Electric CoStock$4.93M–
PYPLPayPal Holdings, Inc.Stock$2.16M$2.74M
GSGoldman Sachs Group IncStock–$4.52M
AMGNAmgen IncStock$2.29M$2.06M
KLACKLA CorpCOM NEW$2.23M$2.04M
VVisa Inc.Stock$1.66M$1.66M
MAMastercard IncStock$1.65M$1.65M
NTAPNetApp, Inc.Stock$1.60M$1.60M
ZMZoom Communications, Inc.Stock$855.3K$2.11M
DICEDICE Therapeutics, Inc.COM$2.93M–
BMBLBumble Inc.COM CL A$2.68M–
ADPAutomatic Data Processing IncStock$1.10M$1.12M
WFCWells Fargo & CompanyStock–$1.94M
CAGConagra Brands Inc.Stock$1.85M–
DDOGDatadog, Inc.CL A COM$1.61M$216.4K
TTDTrade Desk, Inc.Stock$841.7K$841.7K
GDGeneral Dynamics CorpStock$1.61M–
PEPPepsiCo IncStock$815.0K$796.4K
NETCloudflare, Inc.CL A COM$1.43M$170.0K
MARMarriott International IncStock$863.3K$624.5K
BABAAlibaba Group Holding LtdADR–$958.5K
GILDGilead Sciences, Inc.Stock$316.0K$316.0K
SESea LtdSPONSORD ADS–$232.2K

Sold out since Q1 2023 (270)

Positions held at the end of Q1 2023 that are gone from this filing.

The largest 100 of 270 by value last quarter.

Positions of Capula Management Ltd sold out since Q1 2023
SecurityClassShares in Q1 2023Value in Q1 2023% of portfolio in Q1 2023History
JPMJPMorgan Chase & CoStock339,517$44.2M3.8%History
MSMorgan StanleyStock302,212$26.5M2.3%History
CCitigroup IncStock389,387$18.3M1.6%History
CVSCVS Health CorpStock236,816$17.6M1.5%History
WFCWells Fargo & CompanyStock459,071$17.2M1.5%History
PGProcter & Gamble CoStock94,274$14.0M1.2%History
CATCaterpillar IncStock42,994$9.84M0.9%History
HDHome Depot, Inc.Stock31,700$9.36M0.8%History
DHRDanaher CorpStock30,778$7.76M0.7%History
GSGoldman Sachs Group IncStock22,057$7.22M0.6%History
LLYEli Lilly & CoStock19,806$6.80M0.6%History
MOAltria Group, Inc.Stock143,605$6.41M0.6%History
JNJJohnson & JohnsonStock39,867$6.18M0.5%History
ABTAbbott LaboratoriesStock58,561$5.93M0.5%History
NSCNorfolk Southern CorpStock25,865$5.48M0.5%History
APENApollo Endosurgery, Inc.COM546,965$5.43M0.5%History
ETNEaton Corp plcStock31,440$5.39M0.5%History
Shaw Communications Inc82028K200CL B CONV126,256$5.11M0.4%–
State Street Technology Select Sector SPDR ETF81369Y803ETF32,449$4.90M0.4%–
State Street Consumer Discretionary Select Sector SPDR ETF81369Y407ETF29,669$4.44M0.4%–
State Street Industrial Select Sector SPDR ETF81369Y704ETF43,320$4.38M0.4%–
MMM3M CoStock40,162$4.22M0.4%History
State Street Materials Select Sector SPDR ETF81369Y100ETF52,120$4.20M0.4%–
State Street Energy Select Sector SPDR ETF81369Y506ETF49,060$4.06M0.4%–
State Street Real Estate Select Sector SPDR ETF81369Y860ETF108,700$4.06M0.4%–
State Street Financial Select Sector SPDR ETF81369Y605ETF120,680$3.88M0.3%–
Amryt Pharma PLC03217L106SPONSORED ADS246,460$3.59M0.3%–
PFEPfizer IncStock86,963$3.55M0.3%History
WBAWalgreens Boots Alliance, Inc.COM99,584$3.44M0.3%History
CSXCSX CorpStock110,503$3.31M0.3%History
FISFidelity National Information Services, Inc.Stock58,893$3.20M0.3%History
NFLXNetflix IncStock8,190$2.83M0.2%History
PCARPaccar IncCOM36,550$2.68M0.2%History
DEDeere & CoStock6,314$2.61M0.2%History
DLTRDollar Tree, Inc.COM17,608$2.53M0.2%History
AAPLApple Inc.Stock15,190$2.50M0.2%History
XOMExxonMobil Holdings CorpCOM21,683$2.38M0.2%History
MSFTMicrosoft CorpStock7,663$2.21M0.2%History
CBChubb LtdStock10,510$2.04M0.2%History
VZVerizon Communications IncStock51,049$1.99M0.2%History
SCHWSchwab Charles CorpStock37,673$1.97M0.2%History
RTXRTX CorpStock19,672$1.93M0.2%History
DOWDow Inc.Stock29,764$1.63M0.1%History
KHCKraft Heinz CoStock41,002$1.59M0.1%History
CICigna GroupStock5,861$1.50M0.1%History
BLKBlackRock, Inc.COM2,224$1.49M0.1%History
NTAPNetApp, Inc.Stock22,167$1.42M0.1%History
AMTAmerican Tower CorpREIT6,571$1.34M0.1%History
VVisa Inc.Stock5,699$1.28M0.1%History
SPDR Series Trust78464A714ST STR SP RETAIL19,089$1.21M0.1%–
CMICummins IncStock5,065$1.21M0.1%History
SHWSherwin Williams CoCOM5,037$1.13M0.1%History
TMUST-Mobile US, Inc.Stock6,669$965.9K0.1%History
AMZNAmazon Com IncStock8,775$906.4K0.1%History
TAT&T Inc.Stock38,056$732.6K0.1%History
CALMCal-Maine Foods IncCOM NEW11,060$673.4K0.1%History
SKYChampion Homes, Inc.Stock8,820$663.5K0.1%History
ZETAZeta Global Holdings Corp.CL A58,440$632.9K0.1%History
LOWLowes Companies IncStock3,102$620.3K0.1%History
PARRPar Pacific Holdings, Inc.COM NEW20,500$598.6K0.1%History
AGNCAGNC Investment Corp.REIT59,208$596.8K0.1%History
SONOSonos IncCOM29,660$581.9K0.1%History
WIREEncore Wire CorpCOM3,120$578.2K0.1%History
ANDEAndersons, Inc.COM13,980$577.7K0.1%History
KDKyndryl Holdings, Inc.Stock39,020$575.9K0.1%History
ACGLArch Capital Group Ltd.Stock8,473$575.1K<0.1%History
DOVDOVER CorpCOM3,766$572.2K<0.1%History
INFNInfinera CorpCOM73,440$569.9K<0.1%History
ITRIItron, Inc.COM10,240$567.8K<0.1%History
WWWWolverine World Wide IncCOM33,120$564.7K<0.1%History
MAMastercard IncStock1,552$564.0K<0.1%History
LZBLa-Z-Boy IncCOM19,280$560.7K<0.1%History
ALGTAllegiant Travel COCOM6,080$559.2K<0.1%History
NEONeogenomics IncCOM NEW31,840$554.3K<0.1%History
AALAmerican Airlines Group Inc.Stock37,557$554.0K<0.1%History
Golden Ocean Group LtdG39637205SHS NEW56,580$538.6K<0.1%–
JOBYJoby Aviation, Inc.COMMON STOCK123,420$535.6K<0.1%History
TNETTrinet Group, Inc.COM6,600$532.0K<0.1%History
TSLATesla, Inc.Stock2,563$531.7K<0.1%History
SPHRSphere Entertainment Co.CL A8,900$525.7K<0.1%History
FASTFastenal CoStock9,736$525.2K<0.1%History
STRLSterling Infrastructure, Inc.COM13,820$523.5K<0.1%History
EXEExpand Energy CorpCOM6,876$522.9K<0.1%History
DBRGDigitalBridge Group, Inc.CL A NEW43,360$519.9K<0.1%History
VRSNVerisign IncCOM2,460$519.9K<0.1%History
STGWStagwell IncCOM CL A69,860$518.4K<0.1%History
JELDJELD-WEN Holding, Inc.COM40,680$515.0K<0.1%History
CRNCCerence Inc.COM18,320$514.6K<0.1%History
EIGEmployers Holdings, Inc.COM12,320$513.6K<0.1%History
OPLNOPENLANE, Inc.COM37,500$513.0K<0.1%History
OPENOpendoor Technologies Inc.COM290,900$512.0K<0.1%History
MGIMoneygram International IncCOM NEW48,760$508.1K<0.1%History
HHyatt Hotels CorpCOM CL A4,540$507.5K<0.1%History
DMCDel Monte CorpORD16,820$506.4K<0.1%History
PRTAProthena Corp Public Ltd CoSHS10,420$505.1K<0.1%History
DNAGinkgo Bioworks Holdings, Inc.CL A SHS378,160$503.0K<0.1%History
UBERUber Technologies, IncStock15,791$500.6K<0.1%History
RLAYRelay Therapeutics, Inc.COM30,380$500.4K<0.1%History
AAMIAcadian Asset Management Inc.COM21,120$498.0K<0.1%History
NEWRNew Relic, Inc.COM6,540$492.4K<0.1%History