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CAPSTONE INVESTMENT ADVISORS, LLC — 13F Holdings & Portfolio

CIK 1426196 · latest 13F-HR filed 2026-08-17

Backtest portfolio

CAPSTONE INVESTMENT ADVISORS, LLC manages $54.04B in 13F-reported U.S. long-equity assets across 1,641 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPY (12.91%), QQQ (10.68%), NVDA (4.18%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 352 new positions, exited 266, added to 300, and trimmed 238.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
7 WORLD TRADE CENTER
250 GREENWICH STREET, 32ND FLOOR
NEW YORK, NY 10007
Phone
(212) 232-1420
Filing Manager
CAPSTONE INVESTMENT ADVISORS, LLC
NEW YORK, NY
Signatory
David Zimmerman
Chief Compliance Officer
Loading holdings…
AUM

$54.04B

Long-equity book

Holdings

1,641

Distinct positions

Period

2026-06-30

Filed 2026-08-17

Q/Q Activity

+352 / −266 / ↑300 / ↓238

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • WESTERN DIGITAL CORP$779.8M +135.3%
  • NVIDIA CORPORATION$674.3M +96.3%
  • MICROSOFT CORP$578.4M +56.3%
  • INVESCO QQQ TR$296.2M +1629.9%
  • MICRON TECHNOLOGY INC$247.9M +1374.1%
Show all 300 →

Top Trims

  • AMAZON COM INC-$465.2M -38.7%
  • STATE STR SPDR S&P 500 ETF T-$310.2M -80.4%
  • WARNER BROS DISCOVERY INC-$189.5M -67.6%
  • ALPHABET INC-$185.2M -94.1%
  • ALPHABET INC-$144.5M -60.1%
Show all 238 →

New Positions

  • NOKIA CORP$193.8M
  • SPACE EXPLORATION TECHN CORP$138.8M
  • LIVE NATION ENTERTAINMENT IN$71.4M
  • AKAMAI TECHNOLOGIES INC$65.7M
  • ETSY INC$48.3M
Show all 352 →

Exited Positions

  • LUMENTUM HLDGS INC$752.7M
  • CNX RES CORP$72.2M
  • PROGRESS SOFTWARE CORP$54.0M
  • CYTOKINETICS INC$53.9M
  • ASCENDIS PHARMA A/S$51.0M
Show all 266 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $6.97B 12.91% 9,339,800 SH
2 INVESCO QQQ TR Put QQQ 46090E103 $5.77B 10.68% 7,834,500 SH
3 NVIDIA CORPORATION Put NVDA 67066G104 $2.26B 4.18% 11,290,900 SH
4 INVESCO QQQ TR Call QQQ 46090E103 $2.05B 3.80% 2,790,400 SH
5 MICROSOFT CORP Put MSFT 594918104 $1.79B 3.32% 4,805,900 SH
6 MICROSOFT CORP MSFT 594918104 $1.61B 2.97% 4,303,251 SH
7 NVIDIA CORPORATION NVDA 67066G104 $1.37B 2.54% 6,869,767 SH
8 WESTERN DIGITAL CORP WDC 958102AT2 $1.36B 2.51% 80,500,000 PRN
9 APPLE INC Put AAPL 037833100 $1.21B 2.24% 4,189,900 SH
10 ISHARES TR IVV 464287200 $1.17B 2.16% 1,562,108 SH
11 AMAZON COM INC Put AMZN 023135106 $1.06B 1.96% 4,448,000 SH
12 TESLA INC Put TSLA 88160R101 $884.9M 1.64% 2,103,800 SH
13 AMAZON COM INC AMZN 023135106 $736.3M 1.36% 3,089,477 SH
14 ISHARES TR Put LQD 464287242 $681.4M 1.26% 6,247,500 SH
15 ISHARES TR Call IWM 464287655 $673.0M 1.25% 2,240,000 SH
16 STATE STR SPDR S&P 500 ETF T Call SPY 78462F103 $664.9M 1.23% 890,400 SH
17 NEBIUS GROUP N.V. Put NBIS N97284108 $622.9M 1.15% 2,255,500 SH
18 MICRON TECHNOLOGY INC Put MU 595112103 $601.6M 1.11% 521,200 SH
19 VANGUARD INDEX FDS VOO 922908363 $589.2M 1.09% 857,924 SH
20 TESLA INC TSLA 88160R101 $556.4M 1.03% 1,322,989 SH
21 SELECT SECTOR SPDR TR Call XLF 81369Y605 $532.4M 0.99% 9,931,500 SH
22 ALPHABET INC Put GOOG 02079K107 $522.0M 0.97% 1,477,300 SH
23 ALPHABET INC Put GOOGL 02079K305 $472.8M 0.87% 1,323,100 SH
24 ISHARES TR Put FXI 464287184 $424.2M 0.79% 13,429,700 SH
25 META PLATFORMS INC Put META 30303M102 $384.5M 0.71% 682,600 SH
26 ISHARES TR Call FXI 464287184 $365.6M 0.68% 11,572,200 SH
27 ADVANCED MICRO DEVICES INC Put AMD 007903107 $355.0M 0.66% 611,100 SH
28 APPLE INC Call AAPL 037833100 $354.4M 0.66% 1,224,700 SH
29 META PLATFORMS INC META 30303M102 $335.1M 0.62% 594,871 SH
30 NVIDIA CORPORATION Call NVDA 67066G104 $316.2M 0.59% 1,580,500 SH
31 INVESCO QQQ TR QQQ 46090E103 $314.4M 0.58% 426,945 SH
32 BROADCOM INC Put AVGO 11135F101 $313.1M 0.58% 828,800 SH
33 SELECT SECTOR SPDR TR Put XLF 81369Y605 $288.3M 0.53% 5,377,900 SH
34 ISHARES TR Put HYG 464288513 $284.1M 0.53% 3,552,400 SH
35 INTEL CORP Put INTC 458140100 $283.3M 0.52% 2,028,900 SH
36 APPLE INC AAPL 037833100 $270.5M 0.50% 934,697 SH
37 MICRON TECHNOLOGY INC MU 595112103 $265.9M 0.49% 230,359 SH
38 BERKSHIRE HATHAWAY INC DEL Put BRK.B 084670702 $243.1M 0.45% 485,900 SH
39 TESLA INC Call TSLA 88160R101 $232.2M 0.43% 552,100 SH
40 ISHARES TR Put EEM 464287234 $215.6M 0.40% 3,151,700 SH
41 VANECK ETF TRUST Put SMH 92189F676 $214.1M 0.40% 326,500 SH
42 ECHOSTAR CORP ECHO 278768AB2 $205.0M 0.38% 65,588,000 PRN
43 NOKIA CORP NOK 654902204 $193.8M 0.36% 14,595,379 SH
44 SPDR SERIES TRUST Call KRE 78464A698 $193.5M 0.36% 2,585,000 SH
45 NOKIA CORP Put NOK 654902204 $193.2M 0.36% 14,550,000 SH
46 SPDR SERIES TRUST Put KRE 78464A698 $191.8M 0.35% 2,562,100 SH
47 AMAZON COM INC Call AMZN 023135106 $186.3M 0.34% 781,800 SH
48 ORACLE CORP ORCL 68389X105 $178.4M 0.33% 1,217,291 SH
49 ISHARES TR Put IWM 464287655 $171.3M 0.32% 570,000 SH
50 BROADCOM INC AVGO 11135F101 $169.3M 0.31% 448,295 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-17 $54.04B 1,641 0001426196-26-000004
2026-03-31 2026-05-15 $57.41B 1,558 0001426196-26-000003
2025-12-31 2026-02-17 $51.09B 1,530 0001426196-26-000001
2025-09-30 2025-11-14 $53.72B 1,889 0001426196-25-000006