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Capital Fund Management S.A.
Capital Fund Management S.A. (CFM) is a leading quantitative and systematic hedge fund headquartered in Paris, France. Founded in 1991, CFM specializes in alternative asset management and manages assets for institutional clients worldwide. The firm is known for its scientific approach to investment and data-driven strategies, employing a team of over 280 employees as of 2025. CFM is regulated and registered with major financial authorities globally and operates with a strong focus on innovation and research-driven trading models.
Investment Strategy
CFM pursues a quantitative and systematic investment strategy, relying heavily on scientific research, mathematical modeling, and high-performance computing to develop and execute trading algorithms. The firm invests across global markets and multiple asset classes, employing strategies such as statistical arbitrage, equity market-neutral, managed futures, and diversified multi-strategy funds. CFM's investment philosophy emphasizes data analysis, rigorous testing, risk management, and continual adaptation to evolving market behaviors, seeking uncorrelated returns for institutional investors.
Latest 13F Filing Activity
Capital Fund Management S.A. filed their most recent 13F report on Jun 30, 2025 disclosing 827 equity positions and 1,470 options positions with a total 13F market value of $36B. The fund increased holdings in Apple Inc., Nvidia Corporation, Unitedhealth Group Inc. among other positions. Capital Fund Management S.A. reduced exposure to Meta Platforms Inc., JPMorgan Chase & Co., Qualcomm Inc. among others.
Top Holdings
Equity Positions (827)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 0.79% | $287.1M | 1,816,951 | $153.46 | $157.99 | +$269.1M |
A AAPL | APPLE INC | 0.74% | $269.5M | 1,313,784 | $205.17 | $205.17 | +$269.5M |
| ALPHABET INC | 0.56% | $203.2M | 1,152,894 | $161.88 | $176.23 | +$84.7M | |
U UNH | UNITEDHEALTH GROUP INC | 0.54% | $196.4M | 629,462 | $357.60 | $311.97 | +$118.8M |
P PEP | PEPSICO INC | 0.34% | $124.7M | 944,588 | $143.28 | $132.04 | +$38.9M |
Options Positions (1,470)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
P PLTR | PALANTIR TECHNOLOGIES INC | Sold | Call | $248.6M | 18,234 | $136.32 | $34.24 | -7,601 | +$30.5M |
N NVDA | NVIDIA CORPORATION | Sold | Put | $219.0M | 13,863 | $157.99 | $28.60 | -108 | +$67.6M |
N NVDA | NVIDIA CORPORATION | Sold | Call | $207.6M | 13,139 | $157.99 | $61.86 | -13,212 | -$78.0M |
A AAPL | APPLE INC | Bought | Put | $205.1M | 9,997 | $205.17 | $204.58 | +468 | -$6.6M |
A ARM | ARM HOLDINGS PLC | Sold | Put | $196.4M | 12,145 | $161.74 | $139.08 | -2,693 | +$38.0M |
Industry Allocation
Investment Team (9)
| Name | Role | Location | |
|---|---|---|---|
J Jordan Hill | Equity Research Analyst | New York, NY , United States | |
 | Quantitative Research and Trading | New York, NY , United States | |
P Puoya Tabaghi | Quantitative Researcher - Associate | Urbana, IL , United States | |
A Aman S | Equity Research Analyst | New York, NY , United States | |
 | Associate | New York, NY , United States | |
J Juha Suorsa | Research Associate | United States | |
 | Quantitative Researcher | Berkeley, CA , United States | |
 | Quantitative Researcher | New York, NY , United States | |
Y Yves Lemperiere | Head of Research - Alpha Strategies | NY , United States |
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