Capula Management Ltd

CIK 0001557017 · Q1 2026

13F Equity AUM

$13.9B

-18.3% QoQ

Positions

474

+92 QoQ

AUM Rank

#528

Top 4%

Skill Alpha (FF)

-1.8%/yr^ns

No Clear Edge

Rank #4,887 · Top 59%

vs S&P -3.2%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 78.5%Top 10: 82.9%Top 20: 86.5%

IVV42.7%

SPY29.4%

TSLA2.4%

NVDA2.0%

NDQ1.9%

IWM1.6%

FXI0.9%

META0.8%

AAPL0.6%

AMZN0.5%

Others (464)17.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services79.7%

Technology6.9%

Consumer Cyclical4.4%

Communication Services2.5%

Other6.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 474Median: 0.01%Avg: 0.21%

0–0.5%

463(16.6%)

0.5–1%

5(3.3%)

1–3%

4(7.9%)

3–5%

0(0.0%)

5%+

2(72.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 474Unique: 0vs 20 funds

6.5%Low

474

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

BlackRock, Inc.

11.8%

BANK OF AMERICA CORP /DE/

9.9%

JPMORGAN CHASE & CO

9.7%

STATE STREET CORP

12.9%

FMR LLC

15.1%

GEODE CAPITAL MANAGEMENT, LLC

12.1%

VANGUARD CAPITAL MANAGEMENT LLC

12.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

14%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New191Increased159Decreased121Exited98

New Positions

IWM1.6%

+919K

AAUC0.3%

+1.0M

GTLS0.3%

+166K

PEN0.2%

+102K

XLC0.2%

+249K

EFA0.2%

+275K

OS0.2%

+1.1M

DBRG0.2%

+1.7M

3M40.2%

+143K

CSGS0.1%

+257K

Increased

IVV42.7%

+8.5M(+1375%)

AM60.3%

+3.2M(+10539%)

FXI0.9%

+2.6M(+357%)

CWAN0.5%

+2.6M(+2053%)

AES0.3%

+2.5M(+5115%)

KVUE0.3%

+1.3M(+138%)

NVDA2.0%

+995K(+172%)

TSLA2.4%

+750K(+503%)

LBRDK0.3%

+698K(+498%)

SEMR0.0%

+394K(+416%)

Decreased

VOO0.3%

-11,839,121(-99%)

EEM0.4%

-3,828,339(-81%)

SLV0.0%

-2,082,919(-98%)

BABA0.2%

-1,278,270(-87%)

UBER0.0%

-1,109,382(-97%)

SMH0.3%

-902,595(-90%)

PYPL0.0%

-824,553(-99%)

JD0.0%

-546,310(-82%)

KRE0.1%

-506,364(-63%)

XOM0.1%

-421,909(-87%)

Exited

-9,481,233

-9,227,427

-2,112,794

-2,074,703

-413,170

-400,000

-532,716

-79,291

-389,566

-658,205

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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