SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Capula Management Ltd

CIK 0001557017 · PO BOX 309, UGLAND HOUSE, GRAND CAYMAN, E9, KY1-1104 · 345-949-8066

Reported Value
$2.8B
Q1 2020
Positions
355
Filings on Record
31
2019–present window
Filed
May 15, 2020
original filing

Summary

Capula Management Ltd reported $2.8B in U.S.-listed holdings across 355 positions for Q1 2020.

Its largest position, Spdr S P 500 Etf Tr, represents 2.1% of the portfolio.

Compared with Q4 2019, the fund opened 20 new positions and exited 51.

Portfolio Metrics

Turnover
+20.5%
vs prior filed quarter
Top-10 Concentration
+8.9%
share of reported value
Largest Position
+2.1%
Spdr S P 500 Etf Tr
New / Exited
20 / 51
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $586MQ4 ’18Q1 ’19: $75MQ2 ’19: $486MQ3 ’19: $4.7BQ4 ’19: $4.7BQ4 ’19Q1 ’20: $2.8BQ2 ’20: $2.8BQ3 ’20: $785MQ4 ’20: $2.0BQ4 ’20Q1 ’21: $5.1BQ2 ’21: $6.2BQ3 ’21: $8.1BQ4 ’21: $4.7BQ4 ’21Q1 ’22: $7.0BQ2 ’22: $5.9BQ3 ’22: $7.4BQ4 ’22: $7.4BQ4 ’22Q1 ’23: $8.3BQ2 ’23: $4.1BQ3 ’23: $4.8BQ4 ’23: $2.5BQ4 ’23Q1 ’24: $4.2BQ2 ’24: $12.2BQ3 ’24: $9.9BQ4 ’24: $17.2BQ4 ’24Q1 ’25: $18.0BQ2 ’25: $10.8BQ3 ’25: $20.1BQ4 ’25: $20.0BQ4 ’25Q1 ’26: $14.1Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 70.0%ETP: 25.4%Other: 3.1%ADR: 1.5%REIT: 0.0%
  • Common Stock · 70.0% · $1.9B
  • ETP · 25.4% · $703M
  • Other · 3.1% · $85M
  • ADR · 1.5% · $42M
  • REIT · 0.0% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
XLESELECT SECTOR SPDR TRNEW+3.90M3.90M+$113M$113M
ISHARES TRNEW+574.3K574.3K+$66M$66M
UBS GROUP AGNEW+3.82M3.82M+$35M$35M
CMICUMMINS INCNEW+174.7K174.7K+$24M$24M
EATON CORP PLCNEW+207.1K207.1K+$16M$16M
NSCNORFOLK SOUTHERN CORPNEW+96.8K96.8K+$14M$14M
WFCWELLS FARGO CO NEWNEW+487.0K487.0K+$14M$14M
NTESNETEASE INCNEW+36.0K36.0K+$12M$12M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2020

9 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR S&P 500 ETF TRTR UNIT2.06%$57M221.1K
2ISHARES TRMSCI EMG MKT ETF · RUSSELL 2000 ETF1.73%$48M957.8K
3XLESELECT SECTOR SPDR TRhistory →ENERGY1.50%$42M1.43M
4GSGOLDMAN SACHS GROUP INChistory →COM0.76%$21M136.7K
5CSXCSX CORPhistory →COM0.64%$18M308.6K
6UBS GROUP AGSHS0.59%$16M1.82M
7DWDMORGAN STANLEYhistory →COM NEW0.56%$15M454.2K
8SBUXSTARBUCKS CORPhistory →COM0.54%$15M225.8K
9METAFACEBOOK INChistory →CL A0.52%$15M87.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$14.1B1,256May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$20.0B960Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$20.1B913Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$10.8B715Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$18.0B860May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$17.2B479Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$9.9B528Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$12.2B466Aug 5, 202413F-HRchanges · EDGAR ↗
Q1 2024$4.2B544May 9, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.5B303Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$4.8B554Nov 3, 202313F-HRchanges · EDGAR ↗
Q2 2023$4.1B442Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$8.3B858May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$7.4B766Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$7.4B653Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$5.9B350Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$7.0B300May 17, 202213F-HRchanges · EDGAR ↗
Q4 2021$4.7B187Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$8.1B1,005Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$6.2B869Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$5.1B568May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.0B292Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$785M137Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$2.8B300Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.8B355May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$4.7B371Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$4.7B301Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$486M103Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$75M7May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$586M13Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • Capula Investment US LP028-17204
  • Capula Investment Management LLP028-17757

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.