CAPITAL FUND MANAGEMENT S.A. Q4 2025 Filing
Filed February 17, 2026
Portfolio Value
$36.0B
Holdings
1,197
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (1,197 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF TR TR UNIT | 1,104,400 | $752.0B | 2089.53% | Put |
| 2 | AAPLAPPLE INC COM | 2,716,625 | $738.0B | 2050.63% | Put |
| 3 | TSLATESLA INC COM | 1,469,958 | $660.0B | 1833.89% | Put |
| 4 | MUMICRON TECHNOLOGY INC COM | 2,004,881 | $570.0B | 1583.82% | Put |
| 5 | NVDANVIDIA CORPORATION COM | 2,846,529 | $529.0B | 1469.89% | Put |
| 6 | TSMTAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS | 1,673,078 | $507.0B | 1408.76% | Put |
| 7 | PLTRPALANTIR TECHNOLOGIES INC CL A | 2,186,200 | $388.0B | 1078.11% | Put |
| 8 | BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEW | 766,263 | $383.0B | 1064.21% | Put |
| 9 | JPMJPMORGAN CHASE & CO. COM | 1,024,698 | $329.0B | 914.17% | Put |
| 10 | AMDADVANCED MICRO DEVICES INC COM | 1,367,097 | $290.0B | 805.80% | Put |
| 11 | GOOGLALPHABET INC CAP STK CL A | 851,700 | $265.0B | 736.34% | Put |
| 12 | TRVCCITIGROUP INC COM NEW | 2,186,416 | $254.0B | 705.77% | Put |
| 13 | GSGOLDMAN SACHS GROUP INC COM | 280,391 | $245.0B | 680.76% | Put |
| 14 | UNHUNITEDHEALTH GROUP INC COM | 731,500 | $241.0B | 669.65% | Put |
| 15 | GEGE AEROSPACE COM NEW | 765,037 | $234.0B | 650.20% | Put |
| 16 | LLYELI LILLY & CO COM | 216,900 | $232.0B | 644.64% | Put |
| 17 | AVGOBROADCOM INC COM | 672,600 | $231.0B | 641.86% | Put |
| 18 | LRCXLAM RESEARCH CORP COM NEW | 1,346,738 | $229.0B | 636.31% | Put |
| 19 | HOODROBINHOOD MKTS INC COM CL A | 1,983,120 | $224.0B | 622.41% | Put |
| 20 | MSFTMICROSOFT CORP COM | 455,000 | $219.0B | 608.52% | Put |
| 21 | NFLXNETFLIX INC COM | 2,313,340 | $215.0B | 597.40% | Put |
| 22 | COSTCOSTCO WHSL CORP NEW COM | 242,276 | $208.0B | 577.95% | Put |
| 23 | ARMARM HOLDINGS PLC SPONSORED ADS | 1,874,483 | $203.0B | 564.06% | Put |
| 24 | XLVSELECT SECTOR SPDR TR STATE STREET HEA | 1,305,268 | $201.0B | 558.50% | Put |
| 25 | ADBEADOBE INC COM | 574,642 | $199.0B | 552.95% | Put |
| 26 | RTXRTX CORPORATION COM | 1,074,336 | $196.0B | 544.61% | Put |
| 27 | METAMETA PLATFORMS INC CL A | 297,529 | $195.0B | 541.83% | Put |
| 28 | APPAPPLOVIN CORP COM CL A | 286,300 | $192.0B | 533.50% | Put |
| 29 | GEVGE VERNOVA INC COM | 291,218 | $190.0B | 527.94% | Put |
| 30 | LVLNSPDR SERIES TRUST STATE STREET SPD | 2,887,505 | $186.0B | 516.82% | Put |
| 31 | AXPAMERICAN EXPRESS CO COM | 499,560 | $183.0B | 508.49% | Put |
| 32 | BABOEING CO COM | 836,976 | $181.0B | 502.93% | Put |
| 33 | COINCOINBASE GLOBAL INC COM CL A | 803,658 | $181.0B | 502.93% | Put |
| 34 | BACBANK AMERICA CORP COM | 3,324,992 | $181.0B | 502.93% | Put |
| 35 | AMZNAMAZON COM INC COM | 788,296 | $180.0B | 500.15% | Put |
| 36 | GMGENERAL MTRS CO COM | 2,218,822 | $179.0B | 497.37% | Put |
| 37 | 4I1PHILIP MORRIS INTL INC COM | 1,125,346 | $179.0B | 497.37% | Put |
| 38 | GDXVANECK ETF TRUST GOLD MINERS ETF | 2,092,600 | $179.0B | 497.37% | Put |
| 39 | CVXCHEVRON CORP NEW COM | 1,148,197 | $174.0B | 483.48% | Put |
| 40 | NOWSERVICENOW INC COM | 1,124,114 | $171.0B | 475.15% | Put |
| 41 | IWMISHARES TR RUSSELL 2000 ETF | 692,200 | $170.0B | 472.37% | Put |
| 42 | INTCINTEL CORP COM | 4,546,213 | $167.0B | 464.03% | Put |
| 43 | NEMNEWMONT CORP COM | 1,692,544 | $167.0B | 464.03% | Put |
| 44 | SCHWSCHWAB CHARLES CORP COM | 1,667,103 | $165.0B | 458.47% | Put |
| 45 | BSXBOSTON SCIENTIFIC CORP COM | 1,729,048 | $163.0B | 452.92% | Put |
| 46 | IBMINTERNATIONAL BUSINESS MACHS COM | 550,500 | $162.0B | 450.14% | Put |
| 47 | CRMSALESFORCE INC COM | 618,752 | $162.0B | 450.14% | Put |
| 48 | MOALTRIA GROUP INC COM | 2,740,598 | $157.0B | 436.24% | Put |
| 49 | TTDTHE TRADE DESK INC COM CL A | 4,110,750 | $154.0B | 427.91% | Put |
| 50 | TAT&T INC COM | 6,257,080 | $153.0B | 425.13% | Put |
| 51 | LULULULULEMON ATHLETICA INC COM | 722,417 | $149.0B | 414.02% | Put |
| 52 | SMHVANECK ETF TRUST SEMICONDUCTR ETF | 414,400 | $148.0B | 411.24% | Put |
| 53 | CATCATERPILLAR INC COM | 254,605 | $145.0B | 402.90% | Put |
| 54 | SPOTSPOTIFY TECHNOLOGY S A SHS | 251,050 | $145.0B | 402.90% | Put |
| 55 | XLKSELECT SECTOR SPDR TR STATE STREET TEC | 988,307 | $141.0B | 391.79% | Put |
| 56 | CMGCHIPOTLE MEXICAN GRILL INC COM | 3,791,315 | $140.0B | 389.01% | Put |
| 57 | WDCWESTERN DIGITAL CORP COM | 813,597 | $139.0B | 386.23% | Put |
| 58 | MCDMCDONALDS CORP COM | 454,596 | $138.0B | 383.45% | Put |
| 59 | ORCLORACLE CORP COM | 704,700 | $137.0B | 380.67% | Put |
| 60 | DALDELTA AIR LINES INC DEL COM NEW | 1,975,283 | $135.0B | 375.11% | Put |
| 61 | ABNBAIRBNB INC COM CL A | 999,485 | $134.0B | 372.34% | Put |
| 62 | ANETARISTA NETWORKS INC COM SHS | 1,023,185 | $132.0B | 366.78% | Put |
| 63 | JNJJOHNSON & JOHNSON COM | 628,000 | $128.0B | 355.66% | Put |
| 64 | VVISA INC COM CL A | 363,800 | $127.0B | 352.89% | Put |
| 65 | TMUST-MOBILE US INC COM | 625,294 | $125.0B | 347.33% | Put |
| 66 | BMYBRISTOL-MYERS SQUIBB CO COM | 2,355,266 | $125.0B | 347.33% | Put |
| 67 | WFCWELLS FARGO CO NEW COM | 1,362,351 | $125.0B | 347.33% | Put |
| 68 | 6RJ0ROCKET LAB CORP COM | 1,791,823 | $124.0B | 344.55% | Put |
| 69 | FXIISHARES TR CHINA LG-CAP ETF | 3,284,231 | $124.0B | 344.55% | Put |
| 70 | SESEA LTD SPONSORD ADS | 947,896 | $119.0B | 330.66% | Put |
| 71 | CRCLCIRCLE INTERNET GROUP INC COM CL A | 1,511,900 | $119.0B | 330.66% | Put |
| 72 | XLFSELECT SECTOR SPDR TR STATE STREET FIN | 2,158,390 | $116.0B | 322.32% | Put |
| 73 | BKNGBOOKING HOLDINGS INC COM | 21,795 | $116.0B | 322.32% | |
| 74 | WBDWARNER BROS DISCOVERY INC COM SER A | 3,939,900 | $113.0B | 313.98% | Put |
| 75 | COFCAPITAL ONE FINL CORP COM | 468,700 | $113.0B | 313.98% | Put |
| 76 | CRWDCROWDSTRIKE HLDGS INC CL A | 243,000 | $113.0B | 313.98% | Put |
| 77 | XOMEXXON MOBIL CORP COM | 944,086 | $112.0B | 311.21% | Put |
| 78 | MMM3M CO COM | 701,768 | $112.0B | 311.21% | Put |
| 79 | ISRGINTUITIVE SURGICAL INC COM NEW | 198,351 | $111.0B | 308.43% | Put |
| 80 | SHOPSHOPIFY INC CL A SUB VTG SHS | 692,488 | $110.0B | 305.65% | Put |
| 81 | CSCOCISCO SYS INC COM | 1,438,312 | $109.0B | 302.87% | Put |
| 82 | WMTWALMART INC COM | 991,800 | $109.0B | 302.87% | Put |
| 83 | STXSEAGATE TECHNOLOGY HLDNGS PL ORD SHS | 398,200 | $109.0B | 302.87% | Put |
| 84 | SOFISOFI TECHNOLOGIES INC COM | 4,198,400 | $109.0B | 302.87% | Put |
| 85 | SMCISUPER MICRO COMPUTER INC COM NEW | 3,718,545 | $108.0B | 300.09% | Put |
| 86 | SBUXSTARBUCKS CORP COM | 1,268,500 | $106.0B | 294.53% | Put |
| 87 | VRTVERTIV HOLDINGS CO COM CL A | 648,300 | $104.0B | 288.98% | Put |
| 88 | MAMASTERCARD INCORPORATED CL A | 183,801 | $104.0B | 288.98% | Put |
| 89 | UALUNITED AIRLS HLDGS INC COM | 927,780 | $103.0B | 286.20% | Put |
| 90 | IRENIREN LIMITED ORDINARY SHARES | 2,760,900 | $103.0B | 286.20% | Put |
| 91 | XLYSELECT SECTOR SPDR TR STATE STREET CON | 844,800 | $100.0B | 277.86% | Put |
| 92 | HONHONEYWELL INTL INC COM | 517,251 | $99.0B | 275.08% | Put |
| 93 | SNOWSNOWFLAKE INC COM SHS | 454,700 | $99.0B | 275.08% | Put |
| 94 | ACNACCENTURE PLC IRELAND SHS CLASS A | 371,699 | $98.0B | 272.31% | Put |
| 95 | XBISPDR SERIES TRUST STATE STREET SPD | 804,500 | $97.0B | 269.53% | Put |
| 96 | DISDISNEY WALT CO COM | 867,493 | $97.0B | 269.53% | Put |
| 97 | UBERUBER TECHNOLOGIES INC COM | 1,191,500 | $96.0B | 266.75% | Put |
| 98 | FSLRFIRST SOLAR INC COM | 371,200 | $96.0B | 266.75% | Put |
| 99 | XLUSELECT SECTOR SPDR TR STATE STREET UTI | 2,311,145 | $96.0B | 266.75% | Put |
| 100 | AEMAGNICO EAGLE MINES LTD COM | 572,705 | $96.0B | 266.75% | Put |
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