Capula Management Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Capula Management Ltd reported 294 stock positions worth $22.6 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 66.3% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 15.2%) and Alibaba Group Holding-SP ADR (BABA, 1.4%). Compared with Q1 2026, it opened 77 new positions, sold out of 186, added to 91 and reduced 119. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +120%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −25%).

Most Recent 13F
Q2 2026
Location
Grand Cayman, E9
CIK
0001557017
Portfolio Value
$22.6B (Q2 2026)
SEC Filing
0001172661-26-003473 ↗ filed Aug 14, 2026

Holdings Value

0$5.0B$10.0B$15.0B$20.0B$25.0B Q1 2024: $3.0B Q1 2024 Q2 2024: $8.9B Q2 2024 Q3 2024: $8.0B Q3 2024 Q4 2024: $14.6B Q4 2024 Q1 2025: $13.5B Q1 2025 Q2 2025: $8.1B Q2 2025 Q3 2025: $13.4B Q3 2025 Q4 2025: $15.4B Q4 2025 Q1 2026: $11.4B Q1 2026 Q2 2026: $22.6B $22.6B Q2 2026

Holdings 294 stocks · $22.6B
IVV iShares Core S&P 500 ETF 66.31% 20,051,540 $15.0B Add +120.5%
SPY SS SPDR S&P 500 ETF Trust-US 15.15% 4,595,409 $3.4B Reduce -25.4%
BABA Alibaba Group Holding-SP ADR 1.42% 3,343,509 $320.9M Add +2818.9%
BA The Boeing Co. 0.91% 951,980 $206.1M Add +13323.3%
WDC Western Digital Corp. 0.79% 280,315 $179.0M New
UBER Uber Technologies Inc. 0.70% 2,205,388 $159.1M Add +44158.2%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.68% 1,913,439 $153.0M Add +2036.6%
INTC Intel Corp. 0.65% 1,052,463 $147.0M Add +1228.5%
PDD PDD Holdings Inc. 0.65% 1,914,949 $146.1M Add +10790.3%
WMT Walmart Inc. 0.63% 1,253,680 $142.0M Add +10700.1%
AVGO Broadcom Inc. 0.52% 311,536 $117.7M Add +731.1%
TSLA Tesla Inc. 0.50% 270,235 $113.7M Add +442.4%
AMGN Amgen Inc. 0.48% 300,064 $108.7M Add +491808.2%
LIN Linde PLC 0.46% 200,180 $103.9M Add +435073.9%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.45% 931,663 $101.6M Add +1249.4%
CRDO Credo Technology Group Holdi 0.43% 354,933 $96.5M Add +832.2%
MSTR Strategy Inc. 0.38% 1,002,482 $87.1M Add +22397.3%
WBD Warner Bros Discovery Inc. 0.37% 3,137,200 $83.6M Add +154.7%
QCOM Qualcomm Inc. 0.34% 420,674 $77.7M Add +2573.8%
KLAC KLA Corp. 0.30% 225,329 $68.0M Add +1257.4%
NKE Nike Inc. Class B 0.29% 1,600,267 $65.7M Add +21875.7%
ADI Analog Devices Inc. 0.26% 150,393 $59.7M Add +2197.8%
ULTA Ulta Beauty Inc. 0.26% 130,000 $58.6M New
KVUE Kenvue Inc. 0.26% 3,067,547 $58.6M Add +36.5%
AAOI Applied Optoelectronics Inc. 0.25% 380,749 $56.4M New
SOFI Sofi Technologies Inc. 0.24% 3,000,000 $53.8M New
AES AES Corp. 0.23% 3,502,352 $51.3M Add +41.6%
ECHO Echostar Corp. Class A 0.22% 501,799 $50.9M New
PYPL PayPal Holdings Inc. 0.22% 1,175,521 $50.8M Add +65718.6%
VCIT Vanguard Int-Term Corporate 0.22% 600,000 $49.6M New
AXON Axon Enterprise Inc. 0.20% 80,000 $44.8M Add +95138.1%
OGN Organon & Co. 0.18% 3,049,207 $41.3M New
NVDA Nvidia Corp. 0.16% 185,576 $37.1M Reduce -44.9%
VAL Valaris Ltd. 0.16% 510,898 $37.1M Add +822.0%
GEV GE Vernova Inc. 0.16% 30,263 $35.6M Add +2118.7%
ANET Arista Networks Inc. 0.15% 200,000 $34.0M Add +17352.0%
VRT Vertiv Holdings Co. Class A 0.15% 101,428 $34.0M New
HLT Hilton Worldwide Holdings Inc. 0.15% 100,797 $33.3M Add +13880.2%
UPS United Parcel Service Class B 0.14% 300,184 $32.3M Add +50182.1%
WBS Webster Financial Corp. 0.14% 418,906 $32.0M Add +186.9%
FXI iShares China Large-Cap ETF 0.13% 932,569 $29.5M Reduce -10.7%
BLD Topbuild Corp. 0.13% 80,000 $28.4M New
MAR Marriott International Class A 0.12% 75,273 $27.9M Add +9663.0%
GTLS Chart Industries Inc. 0.12% 131,850 $27.5M Reduce -20.7%
PEN Penumbra Inc. 0.12% 83,000 $26.2M Reduce -18.4%
NSC Norfolk Southern Corp. 0.11% 79,368 $25.0M Reduce -45.2%
XLP SS Consumer Staples Sel Sect 0.11% 292,619 $24.3M Add +1492.5%
CEG Constellation Energy 0.11% 96,874 $24.1M Add +800.3%
COIN Coinbase Global Inc. Class A 0.10% 160,051 $23.4M Add +142802.7%
QQQ Invesco QQQ Trust Series 1 0.10% 30,971 $22.8M Reduce -8.2%
CDNS Cadence Design SYS Inc. 0.09% 56,013 $21.0M Add +946.0%
CLS Celestica Inc. 0.09% 56,000 $20.4M New
XLC SS Comm Select Sector SPDR 0.09% 189,487 $20.3M Add +190.2%
VOO Vanguard S&P 500 ETF 0.09% 28,690 $19.7M Reduce -55.5%
IWM iShares Russell 2000 ETF 0.08% 63,619 $19.1M Reduce -30.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 63,036 $17.7M Add +9627.8%
TXNM TXNM Energy Inc. 0.08% 307,584 $17.5M Add +753.9%
XLY SS Consumer Disc Select Sect 0.08% 148,233 $17.4M New
ZS Zscaler Inc. 0.08% 122,000 $17.2M New
LULU Lululemon Athletica Inc. 0.08% 150,676 $17.2M New
PLTR Palantir Technologies Inc. Class A 0.07% 144,474 $16.9M Add +567.7%
AAUC Allied Gold Corp. 0.07% 692,457 $16.5M Reduce -30.9%
CZR Caesars Entertainment Inc. 0.07% 545,500 $16.5M Add +1415.3%
BMNR Bitmine Immersion Technologi 0.07% 1,200,000 $16.0M New
UNF Unifirst Corp. 0.06% 55,000 $14.5M New
LBRDK Liberty Broadband-C 0.06% 434,293 $14.4M Reduce -48.2%
TECK Teck Resources Ltd.-CLS B 0.06% 228,254 $14.1M Add +1030.2%
JHG Janus Henderson Group PLC 0.06% 270,197 $14.0M Add +19.9%
BKNG Booking Holdings Inc. 0.06% 78,101 $13.9M New
KRE SS SPDR S&P Regional Bank 0.05% 147,388 $11.0M Add +139.5%
KWEB Kranesh Csi China Internet 0.05% 447,370 $10.9M Add +50.6%
TECH Bio-Techne Corp. 0.05% 150,000 $10.6M New
HEI.A Heico Corp. Class A 0.04% 37,346 $9.6M Add +99.5%
HON Honeywell International Inc. 0.04% 40,674 $9.1M Add +35423.1%
MSFT Microsoft Corp. 0.04% 24,393 $9.1M Reduce -53.2%
TALK Talkspace Inc. 0.04% 1,586,580 $8.3M Add +217.3%
AMZN Amazon.com Inc. 0.03% 31,230 $7.4M Reduce -65.9%
XBI SS SPDR S&P Biotech ETF 0.03% 44,038 $7.0M Add +69.8%
NWSA News Corp. Class A 0.03% 273,476 $6.8M Add +61.4%
FERG Ferguson Enterprises Inc. 0.03% 28,540 $6.8M Reduce -6.3%
META Meta Platforms Inc. Class A 0.03% 11,853 $6.7M Reduce -9.4%
AAPL Apple Inc. 0.03% 21,670 $6.3M Reduce -56.9%
ROKU Roku Inc. 0.03% 44,000 $6.1M Add +34.6%
APGE Apogee Therapeutics Inc. 0.03% 45,000 $6.0M New
UHAL.B U-Haul Holding Co.-Non Voting 0.03% 101,811 $5.9M New
LBTYK Liberty Global Ltd. Class C 0.03% 519,771 $5.7M Add +147.4%
BAC Bank of America Corp. 0.02% 98,588 $5.6M Add +623.9%
LLYVA Liberty Live Holdings Class A 0.02% 55,468 $5.6M New
RYAAY Ryanair Holdings PLC-SP ADR 0.02% 80,370 $5.2M New
BF.B Brown-Forman Corp. Class B 0.02% 182,929 $4.9M New
UAA Under Armour Inc. Class A 0.02% 714,943 $4.6M Reduce -4.6%
LEN Lennar Corp. Class A 0.02% 49,910 $4.5M Add +84.5%
JHX James Hardie Ind PLC 0.02% 170,573 $4.5M Reduce -51.2%
GOOGL Alphabet Inc. Class A 0.02% 12,345 $4.4M Reduce -59.9%
PFE Pfizer Inc. 0.02% 170,245 $4.1M Add +18225.6%
ALNY Alnylam Pharmaceuticals Inc. 0.02% 13,203 $4.0M Add +0.7%
NET Cloudflare Inc. Class A 0.02% 14,132 $3.5M Add +4.5%
BE Bloom Energy Corp. Class A 0.01% 10,619 $3.2M New
AMKR Amkor Technology Inc. 0.01% 36,732 $3.2M New
EFA iShares MSCI Eafe ETF 0.01% 30,087 $3.1M Reduce -62.4%
RDDT Reddit Inc. Class A 0.01% 17,306 $3.0M Add +84.6%
SHOP Shopify Inc. Class A 0.01% 25,745 $2.9M Reduce -24.7%
ESPR Esperion Therapeutics Inc. 0.01% 930,160 $2.9M New
XLF SS Financial Select Sector 0.01% 52,138 $2.8M New
FOX Fox Corp. Class B 0.01% 54,135 $2.5M New
BNY Bank of New York Mellon Corp. 0.01% 15,411 $2.2M Add +9240.0%
AFRM Affirm Holdings Inc. 0.01% 27,322 $2.2M Add +20.0%
IOT Samsara Inc. Class A 0.01% 64,956 $2.1M Reduce -12.5%
IMXI International Money Express 0.01% 140,000 $2.0M Reduce -77.8%
CASY Casey's General Stores Inc. 0.01% 2,424 $1.9M New
Z Zillow Group Inc. Class C 0.01% 60,261 $1.9M Add +5.1%
AVNS Avanos Medical Inc. 0.01% 68,423 $1.7M New
BAM Brookfield Asset Mgmt-A 0.01% 37,800 $1.7M No change
COST Costco Wholesale Corp. 0.01% 1,767 $1.7M Reduce -15.9%
KMT Kennametal Inc. 0.01% 43,657 $1.5M Add +53.0%
ALAB Astera Labs Inc. 0.01% 3,134 $1.5M Reduce -86.7%
TMHC Taylor Morrison Home Corp. 0.01% 21,000 $1.5M New
STRL Sterling Infrastructure Inc. 0.01% 1,776 $1.5M New
SMH Vaneck Semiconductor ETF 0.01% 2,016 $1.3M Add +4014.3%
NVT Nvent Electric PLC 0.01% 7,449 $1.3M New
CRS Carpenter Technology 0.01% 2,007 $1.2M Reduce -19.7%
NFLX Netflix Inc. 0.01% 16,101 $1.1M Reduce -2.7%
RIO Rio Tinto PLC-Spon ADR 0.01% 12,080 $1.1M Add +72.1%
GS Goldman Sachs Group Inc. 0.01% 1,116 $1.1M Add +5214.3%
ATI Ati Inc. 0.00% 5,600 $1.1M New
MTSI Macom Technology Solutions H 0.00% 2,868 $1.1M New
QGEN Qiagen N.V. 0.00% 27,820 $1.1M No change
ASX Ase Technology Holding -ADR 0.00% 20,560 $928K Reduce -38.0%
GOOG Alphabet Inc. Class C 0.00% 2,469 $872K Reduce -89.7%
MCD McDonald's Corp. 0.00% 3,189 $862K Reduce -52.6%
ABBV Abbvie Inc. 0.00% 3,168 $797K Reduce -50.4%
LEG Leggett & Platt Inc. 0.00% 64,000 $749K Reduce -19.4%
SCHW Schwab (charles) Corp. 0.00% 8,094 $747K Add +27.7%
CPNG Coupang Inc. 0.00% 42,111 $731K New
LLY Eli Lilly & Co. 0.00% 596 $715K Reduce -83.0%
IWN iShares Russell 2000 Value E 0.00% 3,185 $705K Reduce -25.4%
MU Micron Technology Inc. 0.00% 603 $696K Reduce -97.2%
CRWV Coreweave Inc. Class A 0.00% 6,979 $695K Reduce -85.7%
NEE Nextera Energy Inc. 0.00% 7,414 $651K Add +8.3%
BSX Boston Scientific Corp. 0.00% 15,222 $650K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.00% 3,966 $601K Reduce -52.1%
FIG Figma Inc. Class A 0.00% 31,900 $577K No change
C Citigroup Inc. 0.00% 4,049 $567K Reduce -4.9%
SNDK Sandisk Corp. 0.00% 249 $566K Reduce -96.8%
YUMC Yum China Holdings Inc. 0.00% 13,822 $565K Add +58.0%
BIDU Baidu Inc. - Spon ADR 0.00% 4,895 $559K Reduce -68.0%
VNM Vaneck Vietnam ETF 0.00% 30,048 $555K No change
RACE Ferrari NV 0.00% 1,424 $530K Reduce -61.4%
SHEL Shell PLC-ADR 0.00% 6,819 $529K New
EXC Exelon Corp. 0.00% 11,208 $523K Reduce -54.8%
ORLY O'reilly Automotive Inc. 0.00% 5,567 $513K Reduce -22.0%
AOS Smith (a.o.) Corp. 0.00% 8,150 $511K Add +35.6%
CFG Citizens Financial Group 0.00% 7,228 $506K Add +510.0%
T AT&T Inc. 0.00% 23,808 $493K New
LOW Lowe's Cos Inc. 0.00% 2,228 $491K Reduce -68.1%
MA Mastercard Inc. Class A 0.00% 945 $485K Reduce -76.2%
BP BP PLC-Spons ADR 0.00% 12,633 $467K New
ALLE Allegion PLC 0.00% 3,315 $466K Add +107.5%
JPM JPMorgan Chase & Co. 0.00% 1,351 $442K Reduce -87.0%
TENB Tenable Holdings Inc. 0.00% 11,916 $439K No change
ASHR Xtrackers Harvest Csi 300 CH 0.00% 11,004 $403K New
IYT iShares US Transportation Et 0.00% 4,588 $398K New
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.00% 200 $398K Reduce -92.1%
CVX Chevron Corp. 0.00% 2,331 $386K Reduce -55.7%
TCOM Trip.com Group Ltd.-ADR 0.00% 9,653 $385K Reduce -6.8%
PH Parker Hannifin Corp. 0.00% 393 $384K Reduce -70.1%
HWM Howmet Aerospace Inc. 0.00% 1,420 $382K Reduce -78.3%
CNA Cna Financial Corp. 0.00% 7,789 $379K Reduce -48.2%
TTMI TTM Technologies 0.00% 1,974 $369K New
LNG Cheniere Energy Inc. 0.00% 1,473 $352K Reduce -21.6%
PLD Prologis Inc. 0.00% 2,571 $348K Reduce -49.6%
GE General Electric filed as GE AEROSPACE 0.00% 930 $348K Reduce -74.2%
RCL Royal Caribbean Cruises Ltd. 0.00% 1,092 $347K Reduce -60.3%
RL Ralph Lauren Corp. 0.00% 861 $346K New
USB US Bancorp 0.00% 5,186 $313K New
XLV SS Health Care Select Sector 0.00% 1,964 $312K Reduce -85.4%
CCJ Cameco Corp. 0.00% 3,000 $306K New
BRK.B Berkshire Hathaway Inc. Class B 0.00% 597 $299K Reduce -63.5%
PG The Procter & Gamble Co. 0.00% 2,035 $298K Reduce -78.3%
RMD Resmed Inc. 0.00% 1,523 $297K Add +16.9%
V Visa Inc. Class A 0.00% 855 $293K Reduce -89.3%
PNR Pentair PLC 0.00% 3,762 $288K Add +17.4%
HD Home Depot Inc. 0.00% 789 $278K Reduce -92.5%
FN Fabrinet 0.00% 479 $269K New
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.00% 17,858 $259K Reduce -35.2%
PWR Quanta Services Inc. 0.00% 359 $258K Add +348.8%
KO The Coca-Cola Co. 0.00% 3,149 $256K Add +7772.5%
EVRG Evergy Inc. 0.00% 2,959 $256K Reduce -33.1%
DE Deere & Co. 0.00% 399 $253K Reduce -80.6%
VRTX Vertex Pharmaceuticals Inc. 0.00% 509 $253K Add +106.1%
GD General Dynamics Corp. 0.00% 713 $253K Add +1196.4%
IONQ Ionq Inc. 0.00% 4,724 $252K New
NTES Netease Inc.-ADR 0.00% 1,961 $251K Reduce -82.5%
UBS UBS Group AG-Reg 0.00% 5,032 $249K New
THC Tenet Healthcare Corp. 0.00% 1,330 $249K Add +7.9%
CSX CSX Corp. 0.00% 5,224 $248K New
NXT Nextpower Inc. 0.00% 2,025 $241K New
CDE Coeur Mining Inc. 0.00% 14,399 $235K Reduce -93.2%
RIG Transocean Ltd. 0.00% 47,626 $233K New
STM Stmicroelectronics NV-NY SHS 0.00% 3,031 $227K Add +140.9%
GH Guardant Health Inc. 0.00% 1,499 $225K New
JNJ Johnson & Johnson 0.00% 875 $222K Reduce -85.6%
SO The Southern Co. 0.00% 2,210 $212K Reduce -82.9%
DBX Dropbox Inc. Class A 0.00% 7,589 $208K Reduce -26.8%
EFX Equifax Inc. 0.00% 1,291 $205K Reduce -70.3%
MRVL Marvell Technology Inc. 0.00% 687 $205K Reduce -98.7%
DUK Duke Energy Corp. 0.00% 1,604 $203K Reduce -84.7%
BXP BXP Inc. 0.00% 3,053 $202K Reduce -25.0%
SITM Sitime Corp. 0.00% 269 $201K New
CIEN Ciena Corp. 0.00% 391 $192K New
KSS Kohls Corp. 0.00% 10,793 $191K New
CAT Caterpillar Inc. 0.00% 178 $190K Reduce -86.9%
TER Teradyne Inc. 0.00% 384 $186K Reduce -84.5%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.00% 2,343 $185K Reduce -8.3%
CRM Salesforce Inc. 0.00% 1,133 $177K Reduce -91.9%
APP AppLovin Corp. Class A 0.00% 344 $177K Reduce -86.0%
MFC Manulife Financial Corp. 0.00% 4,351 $176K Reduce -64.0%
STX Seagate Technology Holdings 0.00% 182 $176K New
BBY Best Buy Co. Inc. 0.00% 2,305 $175K New
TAL Tal Education Group- ADR filed as TAL ED GROUP 0.00% 18,114 $173K Add +58.1%
SBUX Starbucks Corp. 0.00% 1,687 $172K Reduce -86.7%
AZN Astrazeneca PLC 0.00% 905 $172K Add +458.6%
LBTYA Liberty Global Ltd. Class A 0.00% 15,088 $172K Add +32.7%
ANF Abercrombie & Fitch Co. Class A 0.00% 1,856 $167K New
LITE Lumentum Holdings Inc. 0.00% 191 $164K New
SNOW Snowflake Inc. 0.00% 629 $160K New
GT Goodyear Tire & Rubber Co. 0.00% 23,244 $153K Reduce -0.4%
UNP Union Pacific Corp. 0.00% 558 $152K Reduce -83.2%
COHR Coherent Corp. 0.00% 384 $151K New
TOL Toll Brothers Inc. 0.00% 904 $149K New
RTX RTX Corp. 0.00% 784 $149K Add +4255.6%
CNI Canadian Natl Railway Co. 0.00% 1,232 $147K Reduce -89.5%
SYY Sysco Corp. 0.00% 1,750 $146K Reduce -79.8%
GILD Gilead Sciences Inc. 0.00% 1,147 $145K New
AMP Ameriprise Financial Inc. 0.00% 309 $142K Add +99.3%
FRSH Freshworks Inc. Class A 0.00% 13,918 $141K Add +6.2%
CXM Sprinklr Inc. Class A 0.00% 27,204 $140K No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.00% 10,474 $140K Reduce -12.7%
CVNA Carvana Co. 0.00% 2,100 $138K Add +418.5%
UAL United Airlines Holdings Inc. 0.00% 993 $135K Add +186.2%
O Realty Income Corp. 0.00% 2,156 $134K Reduce -68.3%
URI United Rentals Inc. 0.00% 116 $131K Reduce -89.4%
SYK Stryker Corp. 0.00% 398 $125K Reduce -48.5%
AMAT Applied Materials Inc. 0.00% 170 $123K Reduce -98.1%
BILL Bill Holdings Inc. 0.00% 3,239 $117K Reduce -3.1%
EQT Eqt Corp. 0.00% 2,201 $117K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 1,206 $116K Reduce -74.0%
LMT Lockheed Martin Corp. 0.00% 226 $115K New
RPD RAPID7 Inc. 0.00% 13,253 $107K No change
AEP American Electric Power 0.00% 749 $102K Reduce -66.7%
DELL Dell Technologies -C 0.00% 228 $98K New
CSCO Cisco Systems Inc. 0.00% 824 $97K Reduce -96.1%
GLW Corning Inc. 0.00% 374 $96K New
PEG Public Service Enterprise GP 0.00% 1,160 $94K Reduce -59.1%
LRCX Lam Research Corp. 0.00% 212 $92K Reduce -98.5%
IREN Iren Ltd. filed as IREN LIMITED 0.00% 2,000 $91K New
TMO Thermo Fisher Scientific Inc. 0.00% 177 $89K Reduce -5.8%
VNO Vornado Realty Trust 0.00% 2,128 $84K Reduce -74.3%
BMY Bristol-Myers Squibb Co. 0.00% 1,373 $79K Reduce -66.6%
AXP American Express Co. 0.00% 231 $78K Reduce -67.5%
MNST Monster Beverage Corp. 0.00% 784 $75K Add +296.0%
UNH Unitedhealth Group Inc. 0.00% 179 $74K Reduce -75.4%
ECL Ecolab Inc. 0.00% 248 $69K Reduce -71.3%
SRE Sempra 0.00% 735 $68K Add +39.5%
JCI Johnson Controls Internation 0.00% 428 $63K Add +141.8%
CRH CRH PLC 0.00% 565 $60K Reduce -5.5%
CB Chubb Ltd. 0.00% 168 $57K New
GSAT Globalstar Inc. 0.00% 704 $57K Add +150.5%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 0.00% 558 $52K New
CSIQ Canadian Solar Inc. 0.00% 3,056 $49K Reduce -16.5%
MS Morgan Stanley 0.00% 224 $47K New
AMD Advanced Micro Devices 0.00% 68 $40K Reduce -99.5%
BILI Bilibili Inc.-Sponsored ADR 0.00% 2,173 $37K New
PNC PNC Financial Services Group 0.00% 141 $35K Add +53.3%
JD Jd.com Inc.-ADR 0.00% 1,332 $34K Reduce -93.7%
BUD Anheuser-Busch Inbev-SPN ADR 0.00% 352 $29K New
D Dominion Energy Inc. 0.00% 372 $25K Reduce -74.0%
XPEV Xpeng Inc. - ADR 0.00% 1,629 $22K New
RF Regions Financial Corp. 0.00% 702 $21K Reduce -89.1%
NIO Nio Inc. - ADR 0.00% 3,911 $20K New
VMC Vulcan Materials Co. 0.00% 66 $19K Reduce -86.9%
PRU Prudential Financial Inc. 0.00% 172 $19K Reduce -24.2%
BLK BlackRock Inc. 0.00% 18 $17K Reduce -94.3%
APH Amphenol Corp. Class A 0.00% 72 $13K Reduce -11.1%
CRWD CrowdStrike Holdings Inc. Class A 0.00% 56 $11K Reduce -97.9%
VZ Verizon Communications Inc. 0.00% 244 $10K New
EA Electronic Arts Inc. 0.00% 49 $10K Reduce -100.0%
NXPI NXP Semiconductors NV 0.00% 24 $7K Reduce -99.2%
CI The Cigna Group 0.00% 22 $6K Reduce -86.4%
VST Vistra Corp. 0.00% 36 $6K Reduce -91.8%
APD Air Products & Chemicals Inc. 0.00% 19 $6K New
SLB SLB Ltd. filed as SLB LIMITED 0.00% 117 $5K Reduce -65.6%
EXR Extra Space Storage Inc. 0.00% 36 $5K Reduce -87.1%
OXY Occidental Petroleum Corp. 0.00% 26 $1K Reduce -97.3%

Options reported separately and not counted above: QQQ puts ($378.3M), BABA puts ($336.2M), TSLA puts ($235.5M), BA puts ($209.3M), QQQ calls ($202.6M), WDC puts ($179.5M), SPY calls ($162.2M), UBER puts ($159.5M), SPY puts ($157.0M), INTC puts ($151.3M), PDD puts ($146.7M), WMT puts ($142.2M), and 385 more.

Other holdings (9): bonds, preferreds, convertibles and warrants · $118.7M (not counted above)
SecurityClassShares / PrincipalValueChange
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 27,500,000$39.2MAdd +183233.3%
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal 15,000,000$25.6MAdd +149900.0%
NOVANTA INC (NOVT 6.5 11/01/28) UNIT 11/01/2028 20,000,000$13.6MAdd +8990.9%
PPL CORPORATION (PPL 7 02/15/29) UNIT 02/15/2029 22,500,000$11.0MNew
NEXTERA ENERGY INC (NEE 7.375 02/15/29) UNIT 02/15/2029 22,500,000$10.8MAdd +3993.9%
CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) NOTE 2.000% 3/1 · principal 7,500,000$9.6MNew
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 8,500,000$6.2MAdd +141566.7%
XEROX HOLDINGS CORP (XRX 3.75 03/15/30) NOTE 3.750% 3/1 · principal 4,500,000$1.6MAdd +99900.0%
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D 2,500,000$1.1MAdd +970.7%

Total filed on the 13F, all lines: $22.8B.

Portfolio Sells Q1 2026 → Q2 2026
SPY SS SPDR S&P 500 ETF Trust-US Reduce -25.4% 15.15% −20.06
CWAN Clearwater Analytics HDS-A Sold out 0.00% −0.56
FOLD Amicus Therapeutics Inc. Sold out 0.00% −0.41
NVDA Nvidia Corp. Reduce -44.9% 0.16% −0.35
SEE Sealed Air Corp. Sold out 0.00% −0.34
HOLX Hologic Inc. Sold out 0.00% −0.31
AAUC Allied Gold Corp. Reduce -30.9% 0.07% −0.31
LBRDK Liberty Broadband-C Reduce -48.2% 0.06% −0.31
EA Electronic Arts Inc. Reduce -100.0% 0.00% −0.27
NSC Norfolk Southern Corp. Reduce -45.2% 0.11% −0.26
VOO Vanguard S&P 500 ETF Reduce -55.5% 0.09% −0.25
OS Onestream Inc. Sold out 0.00% −0.23
DBRG Digitalbridge Group Inc. Sold out 0.00% −0.23
MASI Masimo Corp. Sold out 0.00% −0.22
FXI iShares China Large-Cap ETF Reduce -10.7% 0.13% −0.20
CSGS CSG Systems Intl Inc. Sold out 0.00% −0.18
GTLS Chart Industries Inc. Reduce -20.7% 0.12% −0.18
PEN Penumbra Inc. Reduce -18.4% 0.12% −0.18
SNCY Sun Country Airlines Holding Sold out 0.00% −0.18
AMZN Amazon.com Inc. Reduce -65.9% 0.03% −0.13
MSFT Microsoft Corp. Reduce -53.2% 0.04% −0.13
CTRA Coterra Energy Inc. Sold out 0.00% −0.13
TPH Tri Pointe Homes Inc. Sold out 0.00% −0.12
IWM iShares Russell 2000 ETF Reduce -30.3% 0.08% −0.11
PPL PPL Corp. Sold out 0.00% −0.10
PKST Peakstone Realty Trust Sold out 0.00% −0.10
AAPL Apple Inc. Reduce -56.9% 0.03% −0.08
EHAB Enhabit Inc. Sold out 0.00% −0.08
IMXI International Money Express Reduce -77.8% 0.01% −0.08
QQQ Invesco QQQ Trust Series 1 Reduce -8.2% 0.10% −0.07
MU Micron Technology Inc. Reduce -97.2% 0.00% −0.06
GOOGL Alphabet Inc. Class A Reduce -59.9% 0.02% −0.06
GOOG Alphabet Inc. Class C Reduce -89.7% 0.00% −0.06
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −0.06
SN Sharkninja Inc. Sold out 0.00% −0.06
EFA iShares MSCI Eafe ETF Reduce -62.4% 0.01% −0.05
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.05
SEMR Semrush Holdings Inc. Class A Sold out 0.00% −0.05
ZIM Zim Integrated Shipping Serv Sold out 0.00% −0.05
MRVL Marvell Technology Inc. Reduce -98.7% 0.00% −0.04
SNDK Sandisk Corp. Reduce -96.8% 0.00% −0.04
JHX James Hardie Ind PLC Reduce -51.2% 0.02% −0.04
META Meta Platforms Inc. Class A Reduce -9.4% 0.03% −0.04
ALSN Allison Transmission Holding Sold out 0.00% −0.03
CDE Coeur Mining Inc. Reduce -93.2% 0.00% −0.03
FERG Ferguson Enterprises Inc. Reduce -6.3% 0.03% −0.03
AVO Mission Produce Inc. Sold out 0.00% −0.03
CRWV Coreweave Inc. Class A Reduce -85.7% 0.00% −0.03
SEM Select Medical Holdings Corp. Sold out 0.00% −0.03
HD Home Depot Inc. Reduce -92.5% 0.00% −0.03

Portfolio Buys Q1 2026 → Q2 2026
IVV iShares Core S&P 500 ETF Add +120.5% 66.31% +14.08
BABA Alibaba Group Holding-SP ADR Add +2818.9% 1.42% +1.29
BA The Boeing Co. Add +13323.3% 0.91% +0.90
WDC Western Digital Corp. New 0.79% +0.79
UBER Uber Technologies Inc. Add +44158.2% 0.70% +0.70
PDD PDD Holdings Inc. Add +10790.3% 0.65% +0.63
INTC Intel Corp. Add +1228.5% 0.65% +0.62
WMT Walmart Inc. Add +10700.1% 0.63% +0.61
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +2036.6% 0.68% +0.61
AMGN Amgen Inc. Add +491808.2% 0.48% +0.48
LIN Linde PLC Add +435073.9% 0.46% +0.46
AVGO Broadcom Inc. Add +731.1% 0.52% +0.42
CRDO Credo Technology Group Holdi Add +832.2% 0.43% +0.39
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +1249.4% 0.45% +0.38
MSTR Strategy Inc. Add +22397.3% 0.38% +0.38
TSLA Tesla Inc. Add +442.4% 0.50% +0.34
QCOM Qualcomm Inc. Add +2573.8% 0.34% +0.33
NKE Nike Inc. Class B Add +21875.7% 0.29% +0.29
KLAC KLA Corp. Add +1257.4% 0.30% +0.28
ULTA Ulta Beauty Inc. New 0.26% +0.26
AAOI Applied Optoelectronics Inc. New 0.25% +0.25
ADI Analog Devices Inc. Add +2197.8% 0.26% +0.25
SOFI Sofi Technologies Inc. New 0.24% +0.24
ECHO Echostar Corp. Class A New 0.22% +0.22
PYPL PayPal Holdings Inc. Add +65718.6% 0.22% +0.22
VCIT Vanguard Int-Term Corporate New 0.22% +0.22
AXON Axon Enterprise Inc. Add +95138.1% 0.20% +0.20
OGN Organon & Co. New 0.18% +0.18
VRT Vertiv Holdings Co. Class A New 0.15% +0.15
ANET Arista Networks Inc. Add +17352.0% 0.15% +0.15
GEV GE Vernova Inc. Add +2118.7% 0.16% +0.15
HLT Hilton Worldwide Holdings Inc. Add +13880.2% 0.15% +0.15
UPS United Parcel Service Class B Add +50182.1% 0.14% +0.14
BLD Topbuild Corp. New 0.13% +0.13
MAR Marriott International Class A Add +9663.0% 0.12% +0.12
VAL Valaris Ltd. Add +822.0% 0.16% +0.12
COIN Coinbase Global Inc. Class A Add +142802.7% 0.10% +0.10
XLP SS Consumer Staples Sel Sect Add +1492.5% 0.11% +0.09
CLS Celestica Inc. New 0.09% +0.09
CDNS Cadence Design SYS Inc. Add +946.0% 0.09% +0.08
CEG Constellation Energy Add +800.3% 0.11% +0.08
IBM Intl Business Machines Corp. Add +9627.8% 0.08% +0.08
XLY SS Consumer Disc Select Sect New 0.08% +0.08
LULU Lululemon Athletica Inc. New 0.08% +0.08
ZS Zscaler Inc. New 0.08% +0.08
WBD Warner Bros Discovery Inc. Add +154.7% 0.37% +0.07
BMNR Bitmine Immersion Technologi New 0.07% +0.07
CZR Caesars Entertainment Inc. Add +1415.3% 0.07% +0.06
UNF Unifirst Corp. New 0.06% +0.06
BKNG Booking Holdings Inc. New 0.06% +0.06

Options Activity Q1 2026 → Q2 2026
QQQ Invesco QQQ Trust Series 1 put Add +38.5% 513,700 $378.3M
BABA Alibaba Group Holding-SP ADR put Add +4764.9% 3,502,700 $336.2M
TSLA Tesla Inc. put Add +291.0% 559,900 $235.5M
BA The Boeing Co. put Add +4335.3% 966,900 $209.3M
QQQ Invesco QQQ Trust Series 1 call Add +29.4% 275,100 $202.6M
WDC Western Digital Corp. put Add +21515.4% 281,000 $179.5M
SPY SS SPDR S&P 500 ETF Trust-US call Add +237.3% 217,200 $162.2M
UBER Uber Technologies Inc. put Add +10529.3% 2,210,900 $159.5M
SPY SS SPDR S&P 500 ETF Trust-US put Add +57.5% 210,200 $157.0M
INTC Intel Corp. put Add +477.5% 1,083,400 $151.3M
PDD PDD Holdings Inc. put Add +1165.3% 1,923,200 $146.7M
WMT Walmart Inc. put Add +1993.0% 1,255,800 $142.2M
IWM iShares Russell 2000 ETF put Reduce -23.1% 449,000 $134.9M
AVGO Broadcom Inc. put Add +213.6% 320,800 $121.2M
AMGN Amgen Inc. put Add +14195.2% 300,200 $108.7M
LIN Linde PLC put Add +11016.7% 200,100 $103.8M
CRDO Credo Technology Group Holdi put New 350,000 $95.2M
MSTR Strategy Inc. put Add +7229.9% 1,004,200 $87.3M
HYG Ishr Ibx Usd Hiyld CB ETF-Ui call New 1,000,000 $80.0M
QCOM Qualcomm Inc. put Add +927.3% 422,200 $78.0M
KLAC KLA Corp. put Add +320.6% 227,100 $68.5M
NKE Nike Inc. Class B put Add +7822.8% 1,600,400 $65.7M
TSLA Tesla Inc. call Reduce -78.9% 148,700 $62.5M
NVDA Nvidia Corp. put Reduce -74.3% 304,500 $60.9M
IWM iShares Russell 2000 ETF call Sold out 244,000 $60.5Mbefore exit
ADI Analog Devices Inc. put Add +522.1% 151,800 $60.3M
ULTA Ulta Beauty Inc. put New 130,000 $58.6M
AAOI Applied Optoelectronics Inc. put New 380,000 $56.3M
WBD Warner Bros Discovery Inc. put Add +2000.0% 2,100,000 $56.0M
SOFI Sofi Technologies Inc. put New 3,000,000 $53.8M
PYPL PayPal Holdings Inc. put Add +49420.8% 1,188,500 $51.3M
ECHO Echostar Corp. Class A put New 500,000 $50.8M
EEM iShares MSCI Emerging Market put Sold out 875,500 $49.7Mbefore exit
EA Electronic Arts Inc. call New 230,000 $47.2M
TLT iShares 20+ Year Treasury BD call New 543,000 $46.9M
FXI iShares China Large-Cap ETF put Reduce -27.9% 1,447,300 $45.7M
AXON Axon Enterprise Inc. put Add +26566.7% 80,000 $44.8M
IGV iShares Expanded Tech-Softwa call Add +120.2% 450,000 $40.8M
AMAT Applied Materials Inc. put Reduce -30.6% 56,100 $40.6M
KRE SS SPDR S&P Regional Bank put Add +131.6% 537,600 $40.2M
FXI iShares China Large-Cap ETF call Add +325.5% 1,258,100 $39.7M
GEV GE Vernova Inc. put Add +519.2% 32,200 $37.8M
ANET Arista Networks Inc. put Add +4785.4% 200,300 $34.0M
VRT Vertiv Holdings Co. Class A put New 100,600 $33.7M
HLT Hilton Worldwide Holdings Inc. put Add +2534.2% 100,100 $33.1M
UPS United Parcel Service Class B put Add +9036.4% 301,500 $32.4M
PLTR Palantir Technologies Inc. Class A put Add +129.1% 264,400 $30.8M
MAR Marriott International Class A put Add +2120.0% 77,700 $28.8M
CEG Constellation Energy put Add +306.9% 99,700 $24.8M
AAPL Apple Inc. put Reduce -58.6% 85,500 $24.7M

Showing the first 50 of 630.

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2026 → Q2 2026
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal Add +183233.3% 27,500,000 $39.2M
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal Add +149900.0% 15,000,000 $25.6M
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Sold out 12,500 $17.4Mbefore exit
NOVANTA INC (NOVT 6.5 11/01/28) UNIT 11/01/2028 Add +8990.9% 20,000,000 $13.6M
PPL CORPORATION (PPL 7 02/15/29) UNIT 02/15/2029 New 22,500,000 $11.0M
NEXTERA ENERGY INC (NEE 7.375 02/15/29) UNIT 02/15/2029 Add +3993.9% 22,500,000 $10.8M
CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) NOTE 2.000% 3/1 · principal New 7,500,000 $9.6M
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal Add +141566.7% 8,500,000 $6.2M
VSE CORP (VSEC 5.75 02/01/29) UNIT 02/01/2029 Sold out 191,152 $4.7Mbefore exit
WHIRLPOOL CORP (WHR 8.5 02/15/29 A) 8.5 DEP SR A CNV Sold out 200,000 $4.1Mbefore exit
XEROX HOLDINGS CORP (XRX 3.75 03/15/30) NOTE 3.750% 3/1 · principal Add +99900.0% 4,500,000 $1.6M
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D Add +970.7% 2,500,000 $1.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 294$22.6BIVV, SPY, BABA, BA, WDC
Q1 2026 403$11.4BIVV, SPY, CWAN, NVDA, FOLD
Q4 2025 312$15.4BVOO, SPY, IBIT, IVV, BABA
Q3 2025 308$13.4BIVV, SPY, IBIT, MSTR, UNH
Q2 2025 248$8.1BIVV, SPY, IBIT, QQQ, FBTC
Q1 2025 374$13.5BIVV, SPY, NVDA, MSTR, IBIT
Q4 2024 240$14.6BSPY, NVDA, IBIT, TLT, FBTC
Q3 2024 285$8.0BSPY, NVDA, IBIT, VOO, FBTC
Q2 2024 283$8.9BIVV, SPY, NVDA, AMZN, AAPL
Q1 2024 369$3.0BSPY, GOOGL, HYG, AMZN, QQQ