Capula Management Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Capula Management Ltd reported 308 stock positions worth $13.4 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 52.0% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 15.2%) and iShares Bitcoin Trust ETF (IBIT, 4.6%). Compared with Q2 2025, it opened 155 new positions, sold out of 95, added to 98 and reduced 55. The biggest buy was Strategy (MSTR, shares +309609%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- Grand Cayman, E9
- CIK
- 0001557017
- Portfolio Value
- $13.4B (Q3 2025)
- SEC Filing
- 0001172661-25-005004 ↗ filed Nov 14, 2025
Holdings Value
Holdings 308 stocks · $13.4B
| IVV iShares Core S&P 500 ETF | 52.04% | 10,434,370 | $7.0B | Add +36.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 15.16% | 3,053,114 | $2.0B | Reduce -4.1% |
| IBIT iShares Bitcoin Trust ETF | 4.59% | 9,481,909 | $616.3M | Add +0.0% |
| MSTR Strategy Inc. | 4.22% | 1,756,048 | $565.8M | Add +309608.6% |
| UNH Unitedhealth Group Inc. | 2.47% | 961,097 | $331.9M | Add +1001042.7% |
| QQQ Invesco QQQ Trust Series 1 | 2.37% | 530,580 | $318.5M | Add +99.1% |
| ETHA iShares Ethereum Trust ETF | 2.08% | 8,868,485 | $279.4M | Add +65.6% |
| FBTC Fidelity Wise Origin Bitcoin | 1.57% | 2,112,794 | $210.9M | Add +41.1% |
| COIN Coinbase Global Inc. Class A | 1.26% | 501,397 | $169.2M | New |
| NKE Nike Inc. Class B | 0.91% | 1,750,797 | $122.1M | Add +8753885.0% |
| AAPL Apple Inc. | 0.85% | 449,089 | $114.4M | Add +2506.0% |
| DELL Dell Technologies -C | 0.85% | 800,106 | $113.4M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.84% | 225,060 | $113.1M | New |
| SMH Vaneck Semiconductor ETF | 0.80% | 327,375 | $106.8M | Add +6186.0% |
| AMAT Applied Materials Inc. | 0.78% | 509,913 | $104.4M | Add +123966.4% |
| UBER Uber Technologies Inc. | 0.75% | 1,032,528 | $101.2M | New |
| COST Costco Wholesale Corp. | 0.71% | 103,389 | $95.7M | Add +46262.8% |
| FETH Fidelity Ethereum Fund | 0.67% | 2,174,929 | $90.4M | Add +21.1% |
| EEM iShares MSCI Emerging Market | 0.59% | 1,475,934 | $78.8M | Add +252.4% |
| BABA Alibaba Group Holding-SP ADR | 0.54% | 408,628 | $73.0M | Add +1447.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.37% | 101,065 | $49.6M | New |
| TSLA Tesla Inc. | 0.37% | 110,723 | $49.2M | Add +446.4% |
| BIDU Baidu Inc. - Spon ADR | 0.34% | 350,000 | $46.1M | Add +1188.8% |
| CYBR Cyberark Software Ltd./Israel | 0.26% | 72,333 | $34.9M | New |
| VRNA Verona Pharma Ltd. | 0.24% | 295,665 | $31.6M | New |
| DAY Dayforce Inc. | 0.21% | 407,000 | $28.0M | New |
| LBRDK Liberty Broadband-C | 0.17% | 349,413 | $22.2M | Add +1365.3% |
| IPG Interpublic Group of Cos Inc. | 0.16% | 766,433 | $21.4M | Add +184.3% |
| STZ Constellation Brands Inc. Class A | 0.15% | 150,151 | $20.2M | New |
| FYBR Frontier Communications Pare | 0.15% | 536,045 | $20.0M | Reduce -2.4% |
| COOP Mr Cooper Group Inc. | 0.15% | 93,068 | $19.6M | New |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 0.14% | 248,926 | $19.0M | New |
| ON On Semiconductor | 0.13% | 350,000 | $17.3M | New |
| INFA Informatica Inc. Class A | 0.12% | 636,078 | $15.8M | New |
| AMZN Amazon.com Inc. | 0.12% | 71,348 | $15.7M | New |
| NVDA Nvidia Corp. | 0.10% | 74,673 | $13.9M | New |
| MSFT Microsoft Corp. | 0.10% | 25,577 | $13.2M | New |
| GLD SPDR Gold Shares | 0.09% | 35,427 | $12.6M | New |
| AMP Ameriprise Financial Inc. | 0.09% | 25,100 | $12.3M | New |
| BFH Bread Financial Holdings Inc. | 0.08% | 200,000 | $11.2M | New |
| AVGO Broadcom Inc. | 0.08% | 30,785 | $10.2M | New |
| GOOGL Alphabet Inc. Class A | 0.07% | 37,332 | $9.1M | Add +156.6% |
| NWSA News Corp. Class A | 0.07% | 292,082 | $9.0M | Reduce -5.5% |
| CRH CRH PLC | 0.06% | 69,876 | $8.4M | Add +15.2% |
| BAM Brookfield Asset Mgmt-A | 0.06% | 126,868 | $7.8M | Reduce -20.5% |
| META Meta Platforms Inc. Class A | 0.05% | 9,980 | $7.3M | New |
| ASX Ase Technology Holding -ADR | 0.05% | 650,494 | $7.2M | Add +200.4% |
| CIO City Office REIT Inc. | 0.05% | 1,012,582 | $7.0M | New |
| GTLS Chart Industries Inc. | 0.05% | 35,000 | $7.0M | New |
| MLNK Meridianlink Inc. | 0.05% | 346,952 | $6.9M | New |
| DVY iShares Select Dividend ETF | 0.05% | 45,285 | $6.4M | Add +4.6% |
| QSR Restaurant Brands Intern | 0.05% | 97,431 | $6.2M | Reduce -21.8% |
| LNG Cheniere Energy Inc. | 0.04% | 25,154 | $5.9M | Reduce -39.9% |
| FOX Fox Corp. Class B | 0.04% | 97,942 | $5.6M | New |
| IVE iShares S&P 500 Value ETF | 0.04% | 25,027 | $5.2M | New |
| CNA Cna Financial Corp. | 0.04% | 109,529 | $5.1M | Add +24.6% |
| SHOP Shopify Inc. Class A | 0.04% | 32,618 | $4.8M | Reduce -43.5% |
| CWEN Clearway Energy Inc. Class C | 0.03% | 164,468 | $4.6M | New |
| MRC MRC Global Inc. | 0.03% | 317,165 | $4.6M | New |
| PRO Pros Holdings Inc. | 0.03% | 199,059 | $4.6M | New |
| CVNA Carvana Co. | 0.03% | 11,091 | $4.2M | Add +373.8% |
| VRT Vertiv Holdings Co. Class A | 0.03% | 26,416 | $4.0M | Add +450.3% |
| UAA Under Armour Inc. Class A | 0.03% | 778,868 | $3.9M | New |
| GDX Vaneck Gold Miners ETF | 0.03% | 47,108 | $3.6M | Reduce -11.7% |
| NFLX Netflix Inc. | 0.03% | 2,815 | $3.4M | Add +250.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.02% | 62,685 | $3.2M | Add +1021.2% |
| MRVL Marvell Technology Inc. | 0.02% | 37,939 | $3.2M | Add +144.8% |
| INDA iShares MSCI India ETF | 0.02% | 61,100 | $3.2M | Reduce -40.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.02% | 6,888 | $3.1M | New |
| AMD Advanced Micro Devices | 0.02% | 17,905 | $2.9M | New |
| RDDT Reddit Inc. Class A | 0.02% | 12,564 | $2.9M | New |
| SCCO Southern Copper Corp. | 0.02% | 22,689 | $2.8M | New |
| JPM JPMorgan Chase & Co. | 0.02% | 8,645 | $2.7M | New |
| CRWV Coreweave Inc. Class A | 0.02% | 18,746 | $2.6M | New |
| EMB iShares JP Morgan Usd Emergi | 0.02% | 26,829 | $2.6M | Reduce -75.3% |
| HBI Hanesbrands Inc. | 0.02% | 378,307 | $2.5M | New |
| FXI iShares China Large-Cap ETF | 0.02% | 51,215 | $2.1M | Reduce -7.7% |
| NWE Northwestern Energy Group Inc. | 0.02% | 35,778 | $2.1M | New |
| AFG American Financial Group Inc. | 0.02% | 14,324 | $2.1M | New |
| FLUT Flutter Entertainment PLC-Di | 0.02% | 8,110 | $2.1M | Reduce -44.0% |
| CMI Cummins Inc. | 0.02% | 4,826 | $2.0M | New |
| STE Steris PLC | 0.01% | 8,130 | $2.0M | New |
| HTO H2O America | 0.01% | 41,136 | $2.0M | New |
| GL Globe Life Inc. | 0.01% | 14,006 | $2.0M | New |
| PLTR Palantir Technologies Inc. Class A | 0.01% | 10,741 | $2.0M | Add +290.3% |
| PYPL PayPal Holdings Inc. | 0.01% | 28,587 | $1.9M | Add +50.6% |
| CVX Chevron Corp. | 0.01% | 12,149 | $1.9M | Add +98.6% |
| THG Hanover Insurance Group Inc./ | 0.01% | 10,334 | $1.9M | New |
| NCLH Norwegian Cruise Line Holdin | 0.01% | 71,500 | $1.8M | New |
| XOM Exxon Mobil Corp. | 0.01% | 15,538 | $1.8M | Add +338.2% |
| DKNG Draftkings Inc. Class A | 0.01% | 46,611 | $1.7M | New |
| HD Home Depot Inc. | 0.01% | 4,301 | $1.7M | Add +2571.4% |
| AMLP Alerian MLP ETF | 0.01% | 37,045 | $1.7M | Add +26.2% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.01% | 33,201 | $1.7M | Reduce -59.0% |
| TRV The Travelers Cos Inc. | 0.01% | 6,027 | $1.7M | New |
| V Visa Inc. Class A | 0.01% | 4,904 | $1.7M | Add +5536.8% |
| INFY Infosys Ltd.-SP ADR | 0.01% | 100,402 | $1.6M | Add +88.4% |
| IBN Icici Bank Ltd.-Spon ADR | 0.01% | 54,000 | $1.6M | Reduce -35.6% |
| BTSG Brightspring Health Services | 0.01% | 54,942 | $1.6M | New |
| ORCL Oracle Corp. | 0.01% | 5,688 | $1.6M | New |
Options reported separately and not counted above: QQQ calls ($627.4M), MSTR puts ($570.2M), QQQ puts ($519.3M), LQD calls ($445.9M), UNH puts ($332.8M), BABA puts ($200.9M), AAPL puts ($197.2M), COIN puts ($178.6M), NVDA puts ($172.7M), IWM puts ($142.0M), SMH puts ($136.3M), IWM calls ($131.9M), and 470 more.
Other holdings (3): bonds, preferreds, convertibles and warrants · $19.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 12,500 | $15.7M | Add +150.0% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 2,000 | $3.7M | New |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 4,000 | $4K | New |
Total filed on the 13F, all lines: $13.4B.
Portfolio Sells Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.1% | 15.16% | −9.01 |
| K Kellanova | Sold out | 0.00% | −0.40 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −0.25 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −0.15 |
| TLT iShares 20+ Year Treasury BD | Reduce -94.9% | 0.00% | −0.13 |
| RDUS Radius Recycling Inc. Class A | Sold out | 0.00% | −0.12 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −0.11 |
| EMB iShares JP Morgan Usd Emergi | Reduce -75.3% | 0.02% | −0.10 |
| FYBR Frontier Communications Pare | Reduce -2.4% | 0.15% | −0.10 |
| APP AppLovin Corp. Class A | Reduce -97.8% | 0.00% | −0.09 |
| GLXY Galaxy Digital Inc. Class A | Sold out | 0.00% | −0.09 |
| BRDG Bridge Investment Grp HDS-A | Sold out | 0.00% | −0.09 |
| LNG Cheniere Energy Inc. | Reduce -39.9% | 0.04% | −0.08 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.07 |
| HOOD Robinhood Markets Inc. Class A | Reduce -97.5% | 0.00% | −0.07 |
| BAM Brookfield Asset Mgmt-A | Reduce -20.5% | 0.06% | −0.07 |
| T AT&T Inc. | Reduce -93.9% | 0.00% | −0.07 |
| MCHI iShares MSCI China ETF | Sold out | 0.00% | −0.07 |
| SLB SLB Ltd. | Reduce -98.3% | 0.00% | −0.07 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.06 |
| QSR Restaurant Brands Intern | Reduce -21.8% | 0.05% | −0.05 |
| INDA iShares MSCI India ETF | Reduce -40.0% | 0.02% | −0.05 |
| NWSA News Corp. Class A | Reduce -5.5% | 0.07% | −0.05 |
| SHOP Shopify Inc. Class A | Reduce -43.5% | 0.04% | −0.05 |
| TRI Thomson Reuters Corp. | Sold out | 0.00% | −0.04 |
| TGI Triumph Group Inc. | Sold out | 0.00% | −0.04 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -59.0% | 0.01% | −0.04 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.04 |
| FLUT Flutter Entertainment PLC-Di | Reduce -44.0% | 0.02% | −0.04 |
| FWONA Liberty Media Corp. Class A | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Reduce -93.9% | 0.00% | −0.03 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.03 |
| URBN Urban Outfitters Inc. | Reduce -49.2% | 0.01% | −0.03 |
| FL Foot Locker Inc. | Sold out | 0.00% | −0.03 |
| BIO Bio-Rad Laboratories-A | Sold out | 0.00% | −0.02 |
| SDY SS SPDR S&P Dividend ETF | Reduce -78.7% | 0.00% | −0.02 |
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −0.02 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -35.6% | 0.01% | −0.02 |
| COPX Global X Copper Miners ETF | Reduce -76.3% | 0.00% | −0.02 |
| LEN Lennar Corp. Class A | Reduce -55.9% | 0.01% | −0.02 |
| ARES Ares Management Corp. Class A | Sold out | 0.00% | −0.02 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.02 |
| TFPM Triple Flag Precious Met | Sold out | 0.00% | −0.02 |
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −0.01 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.01 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.01 |
| FSM Fortuna Mining Corp. | Sold out | 0.00% | −0.01 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.01 |
| BBUC Brookfield Business Class A | Sold out | 0.00% | −0.01 |
| EWZ iShares MSCI Brazil ETF | Reduce -63.6% | 0.00% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| MSTR Strategy Inc. | Add +309608.6% | 4.22% | +4.21 |
| UNH Unitedhealth Group Inc. | Add +1001042.7% | 2.47% | +2.47 |
| COIN Coinbase Global Inc. Class A | New | 1.26% | +1.26 |
| NKE Nike Inc. Class B | Add +8753885.0% | 0.91% | +0.91 |
| DELL Dell Technologies -C | New | 0.85% | +0.85 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.84% | +0.84 |
| ETHA iShares Ethereum Trust ETF | Add +65.6% | 2.08% | +0.83 |
| AAPL Apple Inc. | Add +2506.0% | 0.85% | +0.81 |
| SMH Vaneck Semiconductor ETF | Add +6186.0% | 0.80% | +0.78 |
| AMAT Applied Materials Inc. | Add +123966.4% | 0.78% | +0.78 |
| UBER Uber Technologies Inc. | New | 0.75% | +0.75 |
| COST Costco Wholesale Corp. | Add +46262.8% | 0.71% | +0.71 |
| QQQ Invesco QQQ Trust Series 1 | Add +99.1% | 2.37% | +0.57 |
| BABA Alibaba Group Holding-SP ADR | Add +1447.7% | 0.54% | +0.51 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.37% | +0.37 |
| EEM iShares MSCI Emerging Market | Add +252.4% | 0.59% | +0.34 |
| BIDU Baidu Inc. - Spon ADR | Add +1188.8% | 0.34% | +0.32 |
| TSLA Tesla Inc. | Add +446.4% | 0.37% | +0.29 |
| CYBR Cyberark Software Ltd./Israel | New | 0.26% | +0.26 |
| VRNA Verona Pharma Ltd. | New | 0.24% | +0.24 |
| DAY Dayforce Inc. | New | 0.21% | +0.21 |
| STZ Constellation Brands Inc. Class A | New | 0.15% | +0.15 |
| COOP Mr Cooper Group Inc. | New | 0.15% | +0.15 |
| WNS WNS Holdings Ltd. | New | 0.14% | +0.14 |
| LBRDK Liberty Broadband-C | Add +1365.3% | 0.17% | +0.14 |
| ON On Semiconductor | New | 0.13% | +0.13 |
| FETH Fidelity Ethereum Fund | Add +21.1% | 0.67% | +0.12 |
| INFA Informatica Inc. Class A | New | 0.12% | +0.12 |
| AMZN Amazon.com Inc. | New | 0.12% | +0.12 |
| NVDA Nvidia Corp. | New | 0.10% | +0.10 |
| MSFT Microsoft Corp. | New | 0.10% | +0.10 |
| GLD SPDR Gold Shares | New | 0.09% | +0.09 |
| AMP Ameriprise Financial Inc. | New | 0.09% | +0.09 |
| BFH Bread Financial Holdings Inc. | New | 0.08% | +0.08 |
| IPG Interpublic Group of Cos Inc. | Add +184.3% | 0.16% | +0.08 |
| AVGO Broadcom Inc. | New | 0.08% | +0.08 |
| META Meta Platforms Inc. Class A | New | 0.05% | +0.05 |
| CIO City Office REIT Inc. | New | 0.05% | +0.05 |
| GTLS Chart Industries Inc. | New | 0.05% | +0.05 |
| MLNK Meridianlink Inc. | New | 0.05% | +0.05 |
| FOX Fox Corp. Class B | New | 0.04% | +0.04 |
| IVE iShares S&P 500 Value ETF | New | 0.04% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +156.6% | 0.07% | +0.04 |
| CWEN Clearway Energy Inc. Class C | New | 0.03% | +0.03 |
| MRC MRC Global Inc. | New | 0.03% | +0.03 |
| PRO Pros Holdings Inc. | New | 0.03% | +0.03 |
| UAA Under Armour Inc. Class A | New | 0.03% | +0.03 |
| ASX Ase Technology Holding -ADR | Add +200.4% | 0.05% | +0.03 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.02% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Add +450.3% | 0.03% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -28.7% | 1,045,000 | $627.4M |
| MSTR Strategy Inc. | put | Add +17598.0% | 1,769,800 | $570.2M |
| QQQ Invesco QQQ Trust Series 1 | put | Add +32.1% | 865,000 | $519.3M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | New | 4,000,000 | $445.9M |
| UNH Unitedhealth Group Inc. | put | New | 963,800 | $332.8M |
| BABA Alibaba Group Holding-SP ADR | put | New | 1,123,800 | $200.9M |
| AAPL Apple Inc. | put | Add +1613.0% | 774,300 | $197.2M |
| COIN Coinbase Global Inc. Class A | put | New | 529,300 | $178.6M |
| NVDA Nvidia Corp. | put | Add +930.7% | 925,600 | $172.7M |
| IWM iShares Russell 2000 ETF | put | New | 587,000 | $142.0M |
| SMH Vaneck Semiconductor ETF | put | Reduce -38.4% | 417,700 | $136.3M |
| IWM iShares Russell 2000 ETF | call | Add +13.5% | 545,000 | $131.9M |
| AMAT Applied Materials Inc. | put | Add +25279.2% | 609,100 | $124.7M |
| DELL Dell Technologies -C | put | New | 879,500 | $124.7M |
| NKE Nike Inc. Class B | put | Add +58713.3% | 1,764,400 | $123.0M |
| BRK.B Berkshire Hathaway Inc. Class B | put | New | 225,000 | $113.1M |
| MSFT Microsoft Corp. | put | Add +622.0% | 213,000 | $110.3M |
| COST Costco Wholesale Corp. | put | Add +10272.7% | 114,100 | $105.6M |
| UBER Uber Technologies Inc. | put | Add +23762.2% | 1,073,800 | $105.2M |
| TSLA Tesla Inc. | put | Add +432.7% | 218,400 | $97.1M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -20.0% | 1,000,000 | $81.2M |
| SLV iShares Silver Trust | call | Add +14.7% | 1,800,000 | $76.3M |
| SMH Vaneck Semiconductor ETF | call | Reduce -61.6% | 227,700 | $74.3M |
| KRE SS SPDR S&P Regional Bank | put | Sold out | 1,216,600 | $72.3Mbefore exit |
| AMZN Amazon.com Inc. | put | Add +1002.9% | 305,500 | $67.1M |
| XHB SS SPDR S&P Homebldrs ETF | call | New | 600,000 | $66.5M |
| EEM iShares MSCI Emerging Market | call | Reduce -61.8% | 1,150,000 | $61.4M |
| AVGO Broadcom Inc. | put | Add +86.9% | 177,200 | $58.5M |
| JPM JPMorgan Chase & Co. | put | Add +2495.8% | 184,300 | $58.1M |
| GOOGL Alphabet Inc. Class A | put | Add +297.4% | 232,900 | $56.6M |
| CRWD CrowdStrike Holdings Inc. Class A | put | Add +21200.0% | 106,500 | $52.2M |
| KRE SS SPDR S&P Regional Bank | call | New | 800,000 | $50.6M |
| KWEB Kranesh Csi China Internet | call | New | 1,200,000 | $50.4M |
| BIDU Baidu Inc. - Spon ADR | put | New | 350,000 | $46.1M |
| META Meta Platforms Inc. Class A | put | Add +912.1% | 58,700 | $43.1M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -60.4% | 58,600 | $39.0M |
| GS Goldman Sachs Group Inc. | put | Add +5211.1% | 47,800 | $38.1M |
| NVDA Nvidia Corp. | call | Add +301.8% | 197,300 | $36.8M |
| GS Goldman Sachs Group Inc. | call | Add +15066.7% | 45,500 | $36.2M |
| JPM JPMorgan Chase & Co. | call | Add +3487.5% | 114,800 | $36.2M |
| ARKK ARK Innovation ETF | call | New | 400,000 | $34.5M |
| FXI iShares China Large-Cap ETF | call | Add +20.0% | 600,000 | $24.7M |
| SLV iShares Silver Trust | put | New | 500,000 | $21.2M |
| BABA Alibaba Group Holding-SP ADR | call | New | 114,000 | $20.4M |
| STZ Constellation Brands Inc. Class A | put | New | 150,000 | $20.2M |
| ASHR Xtrackers Harvest Csi 300 CH | call | New | 600,000 | $19.8M |
| EEM iShares MSCI Emerging Market | put | New | 350,000 | $18.7M |
| FXI iShares China Large-Cap ETF | put | Sold out | 500,000 | $18.4Mbefore exit |
| PLTR Palantir Technologies Inc. Class A | put | Add +181.2% | 97,300 | $17.7M |
| NFLX Netflix Inc. | put | Add +1236.4% | 14,700 | $17.6M |
Showing the first 50 of 510.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Add +150.0% | 12,500 | $15.7M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 2,000 | $3.7M |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | New | 4,000 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 294 | $22.6B | IVV, SPY, BABA, BA, WDC |
| Q1 2026 | 403 | $11.4B | IVV, SPY, CWAN, NVDA, FOLD |
| Q4 2025 | 312 | $15.4B | VOO, SPY, IBIT, IVV, BABA |
| Q3 2025 | 308 | $13.4B | IVV, SPY, IBIT, MSTR, UNH |
| Q2 2025 | 248 | $8.1B | IVV, SPY, IBIT, QQQ, FBTC |
| Q1 2025 | 374 | $13.5B | IVV, SPY, NVDA, MSTR, IBIT |
| Q4 2024 | 240 | $14.6B | SPY, NVDA, IBIT, TLT, FBTC |
| Q3 2024 | 285 | $8.0B | SPY, NVDA, IBIT, VOO, FBTC |
| Q2 2024 | 283 | $8.9B | IVV, SPY, NVDA, AMZN, AAPL |
| Q1 2024 | 369 | $3.0B | SPY, GOOGL, HYG, AMZN, QQQ |