Capital Fund Management S.a. is based out of Paris. Capital Fund Management S.a. is a hedge fund with 7 clients and discretionary assets under management (AUM) of $10,178,009,780 (Form ADV from 2025-01-03). Their last reported 13F filing for Q3 2024 included $36,538,070,759 in managed 13F securities
and a top 10 holdings concentration of 6.77%. Capital Fund Management S.a.'s largest holding is VanEck Semiconductor ETF with shares held of 1,258,800. Whalewisdom has at least 81 13F filings
Business Description
The advisory business provides advisory services to clients, including separately managed accounts, third-party UCITS funds, and third-party multi-manager investment companies. As of December 31, 2023, the firm managed total client assets of US$12,278m in leveraged equity corresponding to US$8,691m in net assets. The firm's RAUM, which only includes portfolios available to US Persons that trade securities, comprises a total leveraged equity of US$10,178m corresponding to net assets of US$7,047m.
The firm follows SEC guidance regarding the application of the substantive provisions of the Advisers Act to its business and also applies those provisions when relevant/practically possible to its non-US advisory clients. The firm participates in one wrap fee program where it serves as portfolio manager: the Stifel Horizon Program.
Investment Strategy
The firm uses a systematic/quantitative approach to trading financial markets, with all strategies falling under "alternative investments." The Stratus, Discus, CFM SGM, and CFM Cumulus strategies aim to capture "alpha" (skill-based returns uncorrelated with traditional market indices), while the CFM IST, CFM ISTEC, and CFM QUASAR strategies (collectively "CFM IS") are "absolute return" strategies that follow more widely documented hedge fund strategies.
The investment programs seek to be uncorrelated to traditional asset classes in most market conditions, but there is no guarantee of an acceptable return or stable correlation characteristics. They are not intended as complete diversified investment programs, and investing in the included securities and financial instruments involves a risk of loss that clients and investors should be prepared to bear.
Owners
- NGI STRATEGIC AUSTRALIA PTY LIMITED - SHAREHOLDER
- JORDAN, PHILIPPE, BRUNO - ADMINISTRATOR
- POTTERS, MARC - CHIEF INVESTMENT OFFICER
- BOUCHAUD, JEAN-PHILIPPE, MARIELLE - CHAIRMAN
- SAULIERE, JACQUES, CHARLES - CHIEF EXECUTIVE OFFICER
- TORNQVIST, MARTIN, WALDEMAR - CHIEF COMPLIANCE OFFICER
- Laloux, Laurent, Marie - ADMINISTRATOR Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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2024-09-30
Top Buys (13F)
Name | % Change |
---|---|
GOOGL Alphabet Inc. Class | 0.4% |
TSM Taiwan Semiconductor | 0.39% |
AAPL Apple Inc (CALL) | 0.35% |
SPY SPDR S&P 500 ETF TRU (PUT) | 0.32% |
SPY SPDR S&P 500 ETF TRU (CALL) | 0.28% |

2024-09-30
Top Sells (13F)
Name | % Change |
---|---|
SMCI Super Micro Computer (PUT) | 0.63% |
AAPL Apple Inc | 0.43% |
AMZN Amazon.com Inc | 0.39% |
SPY SPDR S&P 500 ETF TRU | 0.36% |
DIA SPDR Dow Jones Indus (CALL) | 0.28% |

2024-09-30
13F Holdings Summary
Name | $ Change |
---|---|
SMH VanEck Semiconductor(PUT) | 0.85% |
NVDA NVIDIA Corp(CALL) | 0.82% |
MSFT Microsoft Corporatio(CALL) | 0.73% |
NVDA NVIDIA Corp(PUT) | 0.71% |
AAPL Apple Inc(CALL) | 0.69% |

2024-09-30
13F Activity
Market Value | $36.5b, Prior: $34.0b |
Inflows (Outflows) as % of Total MV | (-4.8432)% |
New Purchases | 347 stocks |
Added To | 735 stocks |
Sold out of | 251 stocks |
Reduced holdings in | 840 stocks |
Top 10 Holdings % | 6.77% |
Turnover %[1] | 27.33% |
Turnover Alt %[2] | 21.63% |
Time Held Top 20 | 1.8 quarters |
Time Held Top 10 | 2.3 quarters |
Time Held All | 8.78 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-09-30
13F Sector Allocation Over Time
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2024-09-30
Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-09-30