# CAPITAL FUND MANAGEMENT S.A.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1323645. Source: https://holderbook.com/funds/1323645-capital-fund-management-s-a/

- Reported value: $22.7B
- Positions: 1,184
- Weight of the ten largest: 13.3%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $391.6M | 417,277 | 1.7% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $376.0M | 37,110 | 1.7% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $342.3M | 495,984 | 1.5% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $333.6M | 1,084,940 | 1.5% | 17 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $314.2M | 645,043 | 1.4% | 21 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $267.9M | 161,180 | 1.2% | 11 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $265.1M | 1,522,530 | 1.2% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $256.4M | 290,034 | 1.1% | 27 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $252.2M | 705,653 | 1.1% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $215.1M | 864,602 | 0.9% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $209.7M | 104,146 | 0.9% | 31 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $173.1M | 1,798,112 | 0.8% | 23 |
| ROBINHOOD MKTS INC | [HOOD](https://holderbook.com/stocks/HOOD/) | $168.3M | 1,227,630 | 0.7% | 15 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $164.4M | 50,461 | 0.7% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $157.1M | 138,340 | 0.7% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $155.9M | 221,197 | 0.7% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $152.5M | 256,815 | 0.7% | 31 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $142.0M | 119,831 | 0.6% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $129.9M | 49,410 | 0.6% | 24 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $126.1M | 279,071 | 0.6% | 20 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $125.5M | 542,356 | 0.6% | 12 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $125.4M | 773,466 | 0.6% | 18 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $125.3M | 778,421 | 0.6% | 29 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $123.5M | 615,136 | 0.5% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $123.1M | 121,371 | 0.5% | 7 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $122.1M | 1,012,417 | 0.5% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $116.7M | 1,206,139 | 0.5% | 31 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $116.4M | 6,061,629 | 0.5% | 3 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $113.1M | 38,890 | 0.5% | 31 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $112.8M | 38,613 | 0.5% | 16 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $102.5M | 0 | 0.5% | 31 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $101.1M | 2,696,412 | 0.4% | 31 |
| AMERICAN INTL GROUP INC | [AIG](https://holderbook.com/stocks/AIG/) | $97.9M | 1,302,684 | 0.4% | 31 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $97.4M | 456,839 | 0.4% | 12 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $96.4M | 1,099,468 | 0.4% | 19 |
| SUPER MICRO COMPUTER INC | [SMCI](https://holderbook.com/stocks/SMCI/) | $95.6M | 2,881,318 | 0.4% | 7 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $92.8M | 0 | 0.4% | 31 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $91.9M | 0 | 0.4% | 9 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $89.5M | 641,644 | 0.4% | 21 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $88.6M | 15,245 | 0.4% | 31 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $88.0M | 58,699 | 0.4% | 21 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $85.0M | 29,371 | 0.4% | 12 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $84.6M | 481,667 | 0.4% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $84.1M | 100,307 | 0.4% | 22 |
| BLOOM ENERGY CORP | [BE](https://holderbook.com/stocks/BE/) | $84.0M | 160,551 | 0.4% | 15 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $83.8M | 0 | 0.4% | 10 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $83.8M | 0 | 0.4% | 21 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $82.9M | 595,241 | 0.4% | 25 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $81.4M | 940,688 | 0.4% | 31 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $81.2M | 0 | 0.4% | 19 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $80.4M | 432,991 | 0.4% | 5 |
| WORKDAY INC | [WDAY](https://holderbook.com/stocks/WDAY/) | $80.4M | 506,319 | 0.4% | 17 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $80.1M | 821,101 | 0.4% | 5 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $79.2M | 132,843 | 0.3% | 31 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $79.2M | 193,109 | 0.3% | 31 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $78.9M | 437,908 | 0.3% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $78.9M | 398,917 | 0.3% | 14 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $77.9M | 18,667 | 0.3% | 6 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $77.9M | 160,266 | 0.3% | 2 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $77.4M | 1,577,676 | 0.3% | 11 |
| GENERAL MTRS CO | [GM](https://holderbook.com/stocks/GM/) | $76.0M | 603,215 | 0.3% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $75.7M | 170,099 | 0.3% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $75.5M | 438,231 | 0.3% | 24 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $74.0M | 123,799 | 0.3% | 31 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $73.5M | 97,237 | 0.3% | 2 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $73.0M | 376,455 | 0.3% | 31 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $70.0M | 120,044 | 0.3% | 24 |
| PINTEREST INC | [PINS](https://holderbook.com/stocks/PINS/) | $69.6M | 2,586,672 | 0.3% | 23 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $69.0M | 1,703,468 | 0.3% | 5 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $68.6M | 0 | 0.3% | 22 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $67.2M | 1,486,096 | 0.3% | 10 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $66.8M | 421,015 | 0.3% | 12 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $66.5M | 90,329 | 0.3% | 1 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $66.2M | 242,070 | 0.3% | 4 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $66.0M | 153,600 | 0.3% | 31 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $65.9M | 557,952 | 0.3% | 22 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $64.8M | 1,521,243 | 0.3% | 28 |
| ATLASSIAN CORPORATION | [TEAM](https://holderbook.com/stocks/TEAM/) | $64.8M | 682,547 | 0.3% | 15 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $64.7M | 0 | 0.3% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $64.6M | 275,668 | 0.3% | 17 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $64.6M | 0 | 0.3% | 20 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $63.0M | 145,184 | 0.3% | 31 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $63.0M | 33,347 | 0.3% | 31 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $62.8M | 284,521 | 0.3% | 31 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $62.8M | 1,256,116 | 0.3% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $62.8M | 70,239 | 0.3% | 29 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $61.1M | 217,329 | 0.3% | 21 |
| COGNIZANT TECHNOLOGY SOLUTIO | [CTSH](https://holderbook.com/stocks/CTSH/) | $60.0M | 1,508,568 | 0.3% | 5 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $59.8M | 44,921 | 0.3% | 3 |
| DOCUSIGN INC | [DOCU](https://holderbook.com/stocks/DOCU/) | $58.4M | 1,302,842 | 0.3% | 28 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $58.0M | 608,513 | 0.3% | 16 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $57.5M | 285,142 | 0.3% | 7 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $57.4M | 0 | 0.3% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $57.4M | 82,341 | 0.3% | 21 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $57.2M | 0 | 0.3% | 30 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $56.7M | 45,052 | 0.2% | 11 |
| CELESTICA INC | [CLS](https://holderbook.com/stocks/CLS/) | $56.3M | 125,049 | 0.2% | 9 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $56.1M | 562,277 | 0.2% | 11 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $55.7M | 75,041 | 0.2% | 31 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $55.5M | 1,812,929 | 0.2% | 21 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +18.7% | +14.8% | +3.9% | 61% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $22.7B | 1,184 |
| Q1 2026 | $22.1B | 1,112 |
| Q4 2025 | $36.0B | 1,197 |
| Q3 2025 | $38.2B | 1,220 |
| Q2 2025 | $36.3B | 1,228 |
| Q1 2025 | $34.7B | 1,061 |
| Q4 2024 | $39.2B | 1,057 |
| Q3 2024 | $36.5B | 1,011 |
| Q2 2024 | $34.0B | 992 |
| Q1 2024 | $34.6B | 1,023 |
| Q4 2023 | $37.2B | 1,072 |
| Q3 2023 | $28.9B | 965 |