Fund HoldingsCAPITAL FUND MANAGEMENT S.A.

Total Portfolio Value
$35.99B
Total Bought
$35.98B
Total Sold
$38.16B
Net Transaction
-$2.18B
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
SPDR S&P 500 ETF TR TR UNIT(SPY)(Put)0560,300+560,3000382,080+382,080
MICRON TECHNOLOGY INC COM(MU)(Put)01,157,800+1,157,8000330,448+330,448
SPDR S&P 500 ETF TR TR UNIT(SPY)(Call)0457,600+457,6000312,047+312,047
APPLE INC COM(AAPL)(Put)01,033,700+1,033,7000281,022+281,022
NVIDIA CORPORATION COM(NVDA)01,451,529+1,451,5290270,7100.75%+270,710
TESLA INC COM(TSLA)0541,058+541,0580243,3250.68%+243,325
APPLE INC COM(AAPL)0850,925+850,9250231,3320.64%+231,332
APPLE INC COM(AAPL)(Call)0832,000+832,0000226,188+226,188
TESLA INC COM(TSLA)(Put)0494,800+494,8000222,521+222,521
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS(TSM)0706,378+706,3780214,6610.60%+214,661
PALANTIR TECHNOLOGIES INC CL A(PLTR)(Put)01,150,500+1,150,5000204,501+204,501
TESLA INC COM(TSLA)(Call)0434,100+434,1000195,223+195,223
PALANTIR TECHNOLOGIES INC CL A(PLTR)(Call)01,035,700+1,035,7000184,096+184,096
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS(TSM)(Put)0590,800+590,8000179,538+179,538
JPMORGAN CHASE & CO. COM(JPM)(Put)0502,800+502,8000162,012+162,012
NVIDIA CORPORATION COM(NVDA)(Put)0839,700+839,7000156,604+156,604
BERKSHIRE HATHAWAY INC DEL CL B NEW(Put)0311,100+311,1000156,374+156,374
MICRON TECHNOLOGY INC COM(MU)(Call)0546,300+546,3000155,919+155,919
UNITEDHEALTH GROUP INC COM(UNH)(Call)0464,000+464,0000153,171+153,171
ELI LILLY & CO COM(LLY)(Put)0141,100+141,1000151,637+151,637
ALPHABET INC CAP STK CL A(GOOG)(Put)0484,300+484,3000151,586+151,586
BERKSHIRE HATHAWAY INC DEL CL B NEW(Call)0292,100+292,1000146,824+146,824
GOLDMAN SACHS GROUP INC COM(GS)(Put)0153,100+153,1000134,575+134,575
CHEVRON CORP NEW COM(CVX)0829,197+829,1970126,3780.35%+126,378
BROADCOM INC COM(AVGO)(Put)0362,400+362,4000125,427+125,427
GE AEROSPACE COM NEW(GE)0404,637+404,6370124,6400.35%+124,640
COSTCO WHSL CORP NEW COM(COST)(Call)0142,900+142,9000123,228+123,228
BOOKING HOLDINGS INC COM(BKNG)021,795+21,7950116,7190.32%+116,719
MICROSOFT CORP COM(MSFT)(Put)0241,000+241,0000116,552+116,552
ALPHABET INC CAP STK CL A(GOOG)(Call)0367,400+367,4000114,996+114,996
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS(TSM)(Call)0375,900+375,9000114,232+114,232
ROBINHOOD MKTS INC COM CL A(HOOD)(Call)01,009,200+1,009,2000114,141+114,141
BOSTON SCIENTIFIC CORP COM(BSX)01,152,048+1,152,0480109,8480.31%+109,848
LAM RESEARCH CORP COM NEW(LRCX)(Put)0640,600+640,6000109,658+109,658
BOEING CO COM(BA)(Call)0503,076+503,0760109,228+109,228
SPDR SERIES TRUST STATE STREET SPD(Put)
ST STR SP REGBNK
01,655,900+1,655,9000107,319+107,319
AMERICAN EXPRESS CO COM(AXP)(Put)0282,600+282,6000104,548+104,548
ARM HOLDINGS PLC SPONSORED ADS(Put)0954,600+954,6000104,347+104,347
PHILIP MORRIS INTL INC COM(PM)0649,846+649,8460104,2350.29%+104,235
BANK AMERICA CORP COM01,887,992+1,887,9920103,8400.29%+103,840
BROADCOM INC COM(AVGO)(Call)0299,600+299,6000103,692+103,692
NVIDIA CORPORATION COM(NVDA)(Call)0555,300+555,3000103,563+103,563
MICROSOFT CORP COM(MSFT)(Call)0214,000+214,0000103,495+103,495
ADVANCED MICRO DEVICES INC COM(AMD)0480,397+480,3970102,8820.29%+102,882
VANECK ETF TRUST GOLD MINERS ETF(Put)
GOLD MINERS ETF
01,193,000+1,193,0000102,324+102,324
GOLDMAN SACHS GROUP INC COM(GS)(Call)0116,300+116,3000102,228+102,228
CITIGROUP INC COM NEW(C)(Put)0873,700+873,7000101,952+101,952
ADVANCED MICRO DEVICES INC COM(AMD)(Call)0466,900+466,900099,991+99,991
AMAZON COM INC COM(AMZN)0431,796+431,796099,6670.28%+99,667
APPLOVIN CORP COM CL A(APP)(Call)0147,500+147,500099,388+99,388
GE VERNOVA INC COM(GEV)0151,843+151,843099,2400.28%+99,240
ALTRIA GROUP INC COM(MO)01,706,598+1,706,598098,4020.27%+98,402
ISHARES TR RUSSELL 2000 ETF(Put)0398,600+398,600098,119+98,119
GENERAL MTRS CO COM(GM)(Call)01,182,500+1,182,500096,161+96,161
APPLOVIN CORP COM CL A(APP)(Put)0138,800+138,800093,526+93,526
COINBASE GLOBAL INC COM CL A(COIN)(Call)0411,300+411,300093,011+93,011
AIRBNB INC COM CL A0675,585+675,585091,6900.25%+91,690
ADVANCED MICRO DEVICES INC COM(AMD)(Put)0419,800+419,800089,904+89,904
JPMORGAN CHASE & CO. COM(JPM)0275,198+275,198088,6740.25%+88,674
VANECK ETF TRUST SEMICONDUCTR ETF(Put)
SEMICONDUCTR ETF
0246,100+246,100088,628+88,628
UNITEDHEALTH GROUP INC COM(UNH)(Put)0267,500+267,500088,304+88,304
INTEL CORP COM(INTC)(Call)02,391,600+2,391,600088,250+88,250
RTX CORPORATION COM(RTX)0478,636+478,636087,7820.24%+87,782
ROBINHOOD MKTS INC COM CL A(HOOD)(Put)0761,100+761,100086,080+86,080
CITIGROUP INC COM NEW(C)(Call)0737,200+737,200086,024+86,024
INTERNATIONAL BUSINESS MACHS COM(IBM)(Put)0290,100+290,100085,931+85,931
MICRON TECHNOLOGY INC COM(MU)0300,781+300,781085,8460.24%+85,846
HONEYWELL INTL INC COM(HON)0438,151+438,151085,4790.24%+85,479
NETFLIX INC COM(NFLX)0906,340+906,340084,9780.24%+84,978
NEWMONT CORP COM(NEM)(Call)0849,200+849,200084,793+84,793
BERKSHIRE HATHAWAY INC DEL CL B NEW0163,063+163,063081,9640.23%+81,964
ELI LILLY & CO COM(LLY)(Call)075,800+75,800081,461+81,461
AT&T INC COM(T)(Call)03,260,300+3,260,300080,986+80,986
SELECT SECTOR SPDR TR STATE STREET HEA
ST STR CARE ETF
0520,868+520,868080,6300.22%+80,630
SERVICENOW INC COM(NOW)0523,014+523,014080,1210.22%+80,121
JPMORGAN CHASE & CO. COM(JPM)(Call)0246,700+246,700079,492+79,492
COINBASE GLOBAL INC COM CL A(COIN)(Put)0349,700+349,700079,081+79,081
INTEL CORP COM(INTC)(Put)02,125,600+2,125,600078,435+78,435
GENERAL MTRS CO COM(GM)(Put)0953,100+953,100077,506+77,506
VANECK ETF TRUST GOLD MINERS ETF(Call)
GOLD MINERS ETF
0899,600+899,600077,159+77,159
INTERNATIONAL BUSINESS MACHS COM(IBM)(Call)0260,400+260,400077,133+77,133
SEA LTD SPONSORD ADS(SE)0602,896+602,896076,9110.21%+76,911
SELECT SECTOR SPDR TR STATE STREET HEA(Put)
ST STR CARE ETF
0493,700+493,700076,425+76,425
LULULEMON ATHLETICA INC COM(LULU)(Call)0364,000+364,000075,643+75,643
ADOBE INC COM(ADBE)(Call)0215,800+215,800075,528+75,528
CISCO SYS INC COM(CSCO)(Put)0979,700+979,700075,466+75,466
NEWMONT CORP COM(NEM)(Put)0746,400+746,400074,528+74,528
META PLATFORMS INC CL A(META)(Call)0112,800+112,800074,458+74,458
ORACLE CORP COM(ORCL)(Put)0380,600+380,600074,183+74,183
CAPITAL ONE FINL CORP COM(COF)(Put)0305,600+305,600074,065+74,065
BOEING CO COM(BA)(Put)0333,900+333,900072,496+72,496
ISHARES TR RUSSELL 2000 ETF(Call)0293,600+293,600072,273+72,273
CHIPOTLE MEXICAN GRILL INC COM(CMG)(Call)01,948,500+1,948,500072,095+72,095
WALMART INC COM(WMT)(Put)0643,200+643,200071,659+71,659
DELTA AIR LINES INC DEL COM NEW(DAL)(Put)01,021,500+1,021,500070,892+70,892
SALESFORCE INC COM(CRM)0267,452+267,452070,8510.20%+70,851
JOHNSON & JOHNSON COM(JNJ)(Put)0339,500+339,500070,260+70,260
SPDR SERIES TRUST STATE STREET SPD(Put)
ST STR SP BIOT
0575,400+575,400070,159+70,159
CATERPILLAR INC COM(CAT)(Put)0122,400+122,400070,119+70,119
VISA INC COM CL A(V)(Call)0199,900+199,900070,107+70,107
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