Capula Management Ltd Q4 2025 Filing
Filed February 13, 2026
Portfolio Value
$20.0B
Holdings
382
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (382 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | VOOVANGUARD INDEX FDS | 11,903,616 | $7.5B | 37.39% | |
| 2 | SPYSPDR S&P 500 ETF TR | 5,920,777 | $4.0B | 20.21% | Put |
| 3 | BABAALIBABA GROUP HLDG LTD | 3,377,316 | $491.0M | 2.46% | Put |
| 4 | IBITISHARES BITCOIN TRUST ETF | 9,481,233 | $470.0M | 2.35% | |
| 5 | IVVISHARES TR | 616,758 | $422.0M | 2.11% | |
| 6 | IBMINTERNATIONAL BUSINESS MACHS | 1,366,574 | $401.0M | 2.01% | Put |
| 7 | UBERUBER TECHNOLOGIES INC | 4,542,865 | $368.0M | 1.84% | Put |
| 8 | SMHVANECK ETF TRUST | 1,002,644 | $360.0M | 1.80% | Put |
| 9 | GOOGLALPHABET INC | 1,047,122 | $323.0M | 1.62% | Put |
| 10 | NDQINVESCO QQQ TR | 484,595 | $295.0M | 1.48% | Put |
| 11 | EEMISHARES TR | 4,727,718 | $256.0M | 1.28% | Put |
| 12 | AAPLAPPLE INC | 925,543 | $247.0M | 1.24% | Put |
| 13 | QCOMQUALCOMM INC | 1,343,900 | $226.0M | 1.13% | Put |
| 14 | ETHAISHARES ETHEREUM TR | 9,227,427 | $206.0M | 1.03% | |
| 15 | METAMETA PLATFORMS INC | 318,154 | $204.0M | 1.02% | Put |
| 16 | XOMEXXON MOBIL CORP | 1,684,916 | $201.0M | 1.01% | Put |
| 17 | CATCATERPILLAR INC | 343,600 | $193.0M | 0.97% | Put |
| 18 | COINCOINBASE GLOBAL INC | 855,157 | $192.0M | 0.96% | Put |
| 19 | PYPLPAYPAL HLDGS INC | 3,230,639 | $185.0M | 0.93% | Put |
| 20 | CEGCONSTELLATION ENERGY CORP | 513,300 | $180.0M | 0.90% | Put |
| 21 | DELLDELL TECHNOLOGIES INC | 1,411,886 | $174.0M | 0.87% | Put |
| 22 | NVDANVIDIA CORPORATION | 924,896 | $169.0M | 0.85% | Put |
| 23 | FBTCFIDELITY WISE ORIGIN BITCOIN | 2,112,794 | $161.0M | 0.81% | |
| 24 | SLVISHARES SILVER TR | 2,136,319 | $136.0M | 0.68% | Put |
| 25 | TSLATESLA INC | 299,134 | $131.0M | 0.66% | Put |
| 26 | APPAPPLOVIN CORP | 180,400 | $120.0M | 0.60% | Put |
| 27 | BRK/BBERKSHIRE HATHAWAY INC DEL | 200,017 | $100.0M | 0.50% | Put |
| 28 | GOOGALPHABET INC | 320,000 | $100.0M | 0.50% | Put |
| 29 | WBDWARNER BROS DISCOVERY INC | 2,854,868 | $81.0M | 0.41% | Put |
| 30 | NKENIKE INC | 1,291,110 | $80.0M | 0.40% | Put |
| 31 | JDJD.COM INC | 2,660,000 | $76.0M | 0.38% | Put |
| 32 | AMGNAMGEN INC | 226,726 | $73.0M | 0.37% | Put |
| 33 | MSFTMICROSOFT CORP | 135,171 | $64.0M | 0.32% | Put |
| 34 | FETHFIDELITY ETHEREUM FD | 2,074,703 | $61.0M | 0.31% | |
| 35 | LVLNSPDR SERIES TRUST | 800,000 | $51.0M | 0.26% | Call |
| 36 | SMCISUPER MICRO COMPUTER INC | 1,570,300 | $44.0M | 0.22% | Put |
| 37 | XMESPDR SERIES TRUST | 400,000 | $41.0M | 0.21% | Call |
| 38 | EXASEXACT SCIENCES CORP | 413,170 | $41.0M | 0.21% | |
| 39 | DAYDAYFORCE INC | 532,716 | $36.0M | 0.18% | |
| 40 | AMZNAMAZON COM INC | 164,046 | $36.0M | 0.18% | Put |
| 41 | MIGASTRATEGY INC | 257,488 | $36.0M | 0.18% | Put |
| 42 | AVGOBROADCOM INC | 106,847 | $35.0M | 0.18% | Put |
| 43 | CYBRCYBERARK SOFTWARE LTD | 79,291 | $35.0M | 0.18% | |
| 44 | SNOWSNOWFLAKE INC | 166,048 | $34.0M | 0.17% | Put |
| 45 | ASTSAST SPACEMOBILE INC | 443,243 | $29.0M | 0.15% | Put |
| 46 | FXIISHARES TR | 732,000 | $27.0M | 0.14% | Put |
| 47 | EAELECTRONIC ARTS INC | 132,150 | $27.0M | 0.14% | |
| 48 | RNAAVIDITY BIOSCIENCES INC | 389,566 | $27.0M | 0.14% | |
| 49 | PDDPDD HOLDINGS INC | 239,642 | $26.0M | 0.13% | Put |
| 50 | FYBRFRONTIER COMMUNICATIONS PARE | 658,205 | $25.0M | 0.13% | |
| 51 | DLTRDOLLAR TREE INC | 220,099 | $24.0M | 0.12% | Put |
| 52 | PANWPALO ALTO NETWORKS INC | 136,735 | $24.0M | 0.12% | Put |
| 53 | SEESEALED AIR CORP NEW | 566,405 | $23.0M | 0.12% | |
| 54 | GQ9SPDR GOLD TR | 60,000 | $23.0M | 0.12% | Call |
| 55 | AMATAPPLIED MATLS INC | 94,714 | $23.0M | 0.12% | Put |
| 56 | ARKKARK ETF TR | 300,000 | $23.0M | 0.12% | Call |
| 57 | INDAISHARES TR | 411,100 | $21.0M | 0.11% | Call |
| 58 | KWEBKRANESHARES TRUST | 602,128 | $20.0M | 0.10% | Call |
| 59 | WMTWALMART INC | 177,524 | $19.0M | 0.10% | Put |
| 60 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 60,300 | $18.0M | 0.09% | Put |
| 61 | JPMJPMORGAN CHASE & CO. | 55,598 | $17.0M | 0.09% | Put |
| 62 | TLTISHARES TR | 200,000 | $17.0M | 0.09% | Call |
| 63 | LOWLOWES COS INC | 88,028 | $17.0M | 0.09% | Put |
| 64 | ORCLORACLE CORP | 94,305 | $17.0M | 0.09% | Put |
| 65 | AHLASPEN INSURANCE HOLDINGS LTD | 445,997 | $16.0M | 0.08% | |
| 66 | LVSLAS VEGAS SANDS CORP | 300,000 | $16.0M | 0.08% | Put |
| 67 | LULULULULEMON ATHLETICA INC | 80,000 | $16.0M | 0.08% | Put |
| 68 | ALAIR LEASE CORP | 243,831 | $15.0M | 0.08% | |
| 69 | KVUEKENVUE INC | 945,618 | $15.0M | 0.08% | |
| 70 | HOLXHOLOGIC INC | 196,184 | $14.0M | 0.07% | |
| 71 | NSCNORFOLK SOUTHN CORP | 50,000 | $14.0M | 0.07% | |
| 72 | MRVLMARVELL TECHNOLOGY INC | 184,334 | $14.0M | 0.07% | Put |
| 73 | LRCXLAM RESEARCH CORP | 85,200 | $13.0M | 0.07% | Put |
| 74 | AMDADVANCED MICRO DEVICES INC | 61,300 | $12.0M | 0.06% | Put |
| 75 | DBX 0 03/01/28DROPBOX INC | 12,500 | $12.0M | 0.06% | |
| 76 | EVRG 4.5 12/15/27EVERGY INC | 10,000 | $12.0M | 0.06% | |
| 77 | PLTRPALANTIR TECHNOLOGIES INC | 75,194 | $12.0M | 0.06% | Put |
| 78 | NGDNEW GOLD INC CDA | 1,369,532 | $11.0M | 0.06% | |
| 79 | LLYELI LILLY & CO | 11,453 | $10.0M | 0.05% | Put |
| 80 | KLACKLA CORP | 9,026 | $10.0M | 0.05% | Put |
| 81 | VVISA INC | 32,301 | $10.0M | 0.05% | Put |
| 82 | VRTVERTIV HOLDINGS CO | 62,511 | $10.0M | 0.05% | |
| 83 | MUMICRON TECHNOLOGY INC | 38,484 | $10.0M | 0.05% | Put |
| 84 | ASMLASML HOLDING N V | 8,600 | $8.0M | 0.04% | Put |
| 85 | MAMASTERCARD INCORPORATED | 15,794 | $8.0M | 0.04% | Put |
| 86 | COSTCOSTCO WHSL CORP NEW | 9,976 | $7.0M | 0.04% | Put |
| 87 | JNJJOHNSON & JOHNSON | 39,770 | $7.0M | 0.04% | Put |
| 88 | BACBANK AMERICA CORP | 151,988 | $7.0M | 0.04% | Put |
| 89 | NFLXNETFLIX INC | 99,639 | $7.0M | 0.04% | Put |
| 90 | CFLTCONFLUENT INC | 247,073 | $7.0M | 0.04% | |
| 91 | NOVT 6.5 11/01/28NOVANTA INC | 220,000 | $6.0M | 0.03% | |
| 92 | DWDMORGAN STANLEY | 42,253 | $6.0M | 0.03% | Put |
| 93 | LNGCHENIERE ENERGY INC | 32,140 | $6.0M | 0.03% | |
| 94 | FOXFOX CORP | 97,942 | $6.0M | 0.03% | |
| 95 | LBRDKLIBERTY BROADBAND CORP | 140,145 | $6.0M | 0.03% | |
| 96 | NWSANEWS CORP NEW | 261,017 | $6.0M | 0.03% | |
| 97 | HDHOME DEPOT INC | 23,728 | $6.0M | 0.03% | Put |
| 98 | TECK/BTECK RESOURCES LTD | 139,739 | $6.0M | 0.03% | Call |
| 99 | ABBVABBVIE INC | 30,940 | $5.0M | 0.03% | Put |
| 100 | GEGE AEROSPACE | 18,800 | $5.0M | 0.03% | Put |
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