CAPSTONE INVESTMENT ADVISORS, LLC
CIK
1426196
Location
NEW YORK, NY
Portfolio Value
Large
$47,920,677,020
Diversification
Moderately concentrated
Filing Date
Global Rank
#149
/ 8,622
▲ 20
· as of Mar 2026
Top Industry
Semiconductors
17.8%
3Y Alpha vs SPY
+2.5%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Not a measure of this manager's performance.
Most of CAPSTONE INVESTMENT ADVISORS, LLC's reported book is option positions, which a stock-only clone
cannot replicate. The figures below are the return of the
12% that is ordinary stock — as little as
4% in one quarter — so a manager whose options
thesis lost money can still show a large gain here.
Cloned portfolio
+78.9%
SPY
+67.9%
Annualised alpha
+2.5%
Max drawdown
−19.9%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 12% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
882 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
32.1%
−2.9 pts
Top 5
72.2%
+5.9 pts
Top 10
82.4%
+0.8 pts
HHI
1,692
Moderately concentrated+131
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 55.6% | $26,663,223,335 |
| Technology | 18.9% | $9,068,984,185 |
| Consumer Cyclical | 10.6% | $5,071,787,474 |
| Communication Services | 5.3% | $2,532,908,955 |
| Financial Services | 3.0% | $1,429,453,111 |
| Industrials | 1.8% | $883,649,815 |
| Healthcare | 1.7% | $808,754,606 |
| Consumer Defensive | 1.2% | $581,798,518 |
| Energy | 0.9% | $441,413,926 |
| Basic Materials | 0.5% | $227,410,347 |
| Utilities | 0.3% | $146,906,427 |
| Real Estate | 0.1% | $64,386,321 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| QQQ | Invesco Qqq Trust, Series 1 | +19,214,016 | 26,647,688 | $15,380,512,559 | |
| WBD | Warner Bros. Discovery, Inc. | +11,918,300 | 19,478,200 | $534,871,372 | |
| AMZN | Amazon Com Inc | +6,739,142 | 14,377,710 | $2,994,445,661 | |
| MSFT | Microsoft Corp | +4,282,465 | 6,944,697 | $2,570,718,488 | |
| BAC | Bank Of America Corp /De/ | +1,049,877 | 2,215,397 | $108,000,603 | |
| XOM | ExxonMobil Holdings Corp | +761,669 | 1,043,828 | $177,095,858 | |
| TSLA | Tesla, Inc. | +738,013 | 4,291,800 | $1,595,476,650 | |
| PLTR | Palantir Technologies Inc. | +645,962 | 1,171,718 | $171,398,909 | |
| HOOD | Robinhood Markets, Inc. | +421,935 | 519,854 | $36,025,882 | |
| CTRA | Coterra Energy Inc. | +398,819 | 427,719 | $15,030,045 | |
| NOW | ServiceNow, Inc. | +381,215 | 440,719 | $46,077,171 | |
| NKE | NIKE, Inc. | +378,457 | 695,571 | $36,740,060 | |
| NBIS | Nebius Group N.V. | +350,000 | 2,161,000 | $224,225,360 | |
| AAPL | Apple Inc. | +347,176 | 5,246,065 | $1,331,398,836 | |
| WFC | Wells Fargo & Company/Mn | +326,167 | 777,257 | $61,877,429 | |
| CRM | Salesforce, Inc. | +315,879 | 388,549 | $72,530,441 | |
| CMCSA | Comcast Corp | +314,292 | 523,289 | $15,023,627 | |
| C | Citigroup Inc | +301,270 | 566,124 | $64,204,122 | |
| UBER | Uber Technologies, Inc | +300,908 | 766,131 | $55,107,802 | |
| ORCL | Oracle Corp | +254,065 | 1,404,183 | $206,569,361 | |
| CVX | Chevron Corp | +251,217 | 405,600 | $83,918,640 | |
| MARA | MARA Holdings, Inc. | +246,696 | 987,996 | $8,062,047 | |
| GRAB | Grab Holdings Ltd | +237,830 | 261,564 | $957,324 | |
| EA | Electronic Arts Inc. | +218,300 | 257,300 | $52,455,751 | |
| T | At&T Inc. | +205,106 | 989,168 | $28,675,980 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| NVDA | Nvidia Corp | −8,612,793 | 14,589,908 | $2,544,479,955 | |
| KVUE | Kenvue Inc. | −7,367,172 | 2,892,293 | $49,863,131 | |
| CORZ | Core Scientific, Inc./tx | −4,790,000 | 60,000 | $897,600 | |
| GOOGL | Alphabet Inc. | −4,093,700 | 2,637,871 | $758,546,184 | |
| SPY | Spdr S&P 500 ETF Trust | −3,762,556 | 17,093,524 | $11,116,602,398 | |
| AMD | Advanced Micro Devices Inc | −3,428,607 | 1,757,329 | $357,493,438 | |
| FOLD | AMICUS THERAPEUTICS, INC. | −1,584,270 | 265,730 | $3,842,455 | |
| INTC | Intel Corp | −1,436,825 | 2,208,455 | $97,459,119 | |
| NIO | NIO Inc. | −1,008,851 | 34,397 | $207,413 | |
| CSCO | Cisco Systems, Inc. | −737,159 | 605,441 | $46,976,167 | |
| FLS | Flowserve Corp | −494,000 | 196,075 | $14,413,473 | |
| MDLN | Medline Inc. | −482,340 | 6,660 | $296,370 | |
| SLV | iShares Silver Trust | −453,725 | 259,860 | $17,706,860 | |
| AVGO | Broadcom Inc. | −392,100 | 1,427,895 | $441,947,781 | |
| NFLX | Netflix Inc | −348,953 | 1,110,285 | $106,753,902 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | −322,016 | 47,648 | $16,102,641 | |
| AIG | American International Group, Inc. | −286,554 | 58,946 | $4,435,686 | |
| HOLX | HOLOGIC INC | −228,740 | 108,000 | $8,163,720 | |
| CVS | CVS HEALTH Corp | −219,811 | 112,600 | $8,086,932 | |
| CLSK | Cleanspark, Inc. | −197,800 | 210,300 | $1,789,653 | |
| HAL | Halliburton Co | −175,564 | 398,792 | $15,548,900 | |
| JD | JD.com, Inc. | −170,893 | 50,507 | $1,493,491 | |
| AMAT | Applied Materials Inc /De | −164,205 | 202,576 | $69,238,451 | |
| PSKY | Paramount Skydance Corp | −160,300 | 10,300 | $92,906 | |
| META | Meta Platforms, Inc. | −144,323 | 1,149,272 | $657,532,989 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| WBS | Webster Financial Corp | 849,500 | $58,972,290 | |
| AA | Alcoa Corp | 543,665 | $36,061,299 | |
| GTLS | Chart Industries Inc | 163,000 | $33,700,250 | |
| XPO | XPO, Inc. | 107,800 | $20,972,490 | |
| RS | Reliance, Inc. | 61,560 | $18,709,315 | |
| CWAN | Clearwater Analytics Holdings, Inc. | 700,000 | $16,555,000 | |
| EXPD | Expeditors International Of Washington Inc | 111,151 | $15,920,157 | |
| APLS | Apellis Pharmaceuticals, Inc. | 250,000 | $10,057,500 | |
| VAL | Valaris Ltd | 99,643 | $9,768,999 | |
| FPS | Forgent Power Solutions, Inc. | 300,000 | $8,781,000 | |
| ACM | Aecom | 100,146 | $8,494,383 | |
| BTI | British American Tobacco p.l.c. | 96,000 | $5,613,120 | |
| TECK | Teck Resources Ltd | 100,000 | $5,175,000 | |
| BUD | Anheuser-Busch InBev SA/NV | 74,000 | $5,133,380 | |
| DAWN | Day One Biopharmaceuticals, Inc. | 236,000 | $5,059,840 | |
| DBRG | DigitalBridge Group, Inc. | 325,000 | $5,011,500 | |
| AU | AngloGold Ashanti PLC | 50,434 | $4,910,254 | |
| ETR | Entergy Corp /De/ | 43,521 | $4,890,019 | |
| UMC | United Microelectronics Corp | 364,169 | $3,270,237 | |
| KW | Kennedy-Wilson Holdings, Inc. | 290,000 | $3,137,800 | |
| GME | GameStop Corp. | 120,000 | $2,764,800 | |
| SAP | Sap SE | 15,000 | $2,568,150 | |
| QSR | Restaurant Brands International Inc. | 33,123 | $2,447,789 | |
| ENS | EnerSys | 13,476 | $2,341,050 | |
| CTVA | Corteva, Inc. | 26,586 | $2,225,514 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| R | Ryder System Inc | 144,548 | $27,665,041 | |
| EXAS | EXACT SCIENCES CORP | 251,384 | $25,530,559 | |
| CSTM | Constellium SE | 1,194,936 | $22,524,543 | |
| MTZ | Mastec Inc | 100,997 | $21,953,717 | |
| ECHO | EchoStar CORP | 150,000 | $16,305,000 | |
| NTST | NETSTREIT Corp. | 772,907 | $13,634,079 | |
| NGD | New Gold Inc. /FI | 1,100,000 | $9,581,000 | |
| SUNC | SunocoCorp LLC | 169,625 | $8,359,120 | |
| CHKP | Check Point Software Technologies Ltd | 31,400 | $5,826,584 | |
| SUI | Sun Communities Inc | 32,384 | $4,012,701 | |
| CUK | CARNIVAL PLC | 125,000 | $3,791,250 | |
| LBRDA | Liberty Broadband Corp | 75,000 | $3,621,000 | |
| GDDY | GoDaddy Inc. | 29,182 | $3,620,902 | |
| FTAI | FTAI Aviation Ltd. | 17,296 | $3,404,717 | |
| CTLP | Cantaloupe, Inc. | 295,000 | $3,132,900 | |
| LNG | Cheniere Energy, Inc. | 15,343 | $2,982,525 | |
| ALAB | Astera Labs, Inc. | 15,439 | $2,568,432 | |
| CRCL | Circle Internet Group, Inc. | 29,047 | $2,303,427 | |
| MOH | Molina Healthcare, Inc. | 12,600 | $2,186,604 | |
| RKT | Rocket Companies, Inc. | 112,813 | $2,184,059 | |
| IT | Gartner Inc | 8,330 | $2,101,492 | |
| TOST | Toast, Inc. | 56,212 | $1,996,088 | |
| RIOT | Riot Platforms, Inc. | 154,900 | $1,962,583 | |
| INGR | Ingredion Inc | 17,303 | $1,907,828 | |
| FLO | Flowers Foods Inc | 159,872 | $1,739,407 | |
| No positions match the current search. | ||||
882 tracked positions ·
$47,920,677,020 total
· filing declares
1,558 positions · $57,413,662,700
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 882 positions by value
· page 1 of 18
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| QQQ |
Invesco Qqq Trust, Series 1
PUT
CALL
+ SHARES
|
Added | 26,647,688 | $15,380,512,559 | 32.10% | |
| SPY |
Spdr S&P 500 ETF Trust
PUT
CALL
+ SHARES
|
Reduced | 17,093,524 | $11,116,602,398 | 23.20% | |
| AMZN |
Amazon Com Inc
PUT
CALL
+ SHARES
Consumer Cyclical
|
Added | 14,377,710 | $2,994,445,661 | 6.25% | |
| MSFT |
Microsoft Corp
PUT
CALL
+ SHARES
Technology
|
Added | 6,944,697 | $2,570,718,488 | 5.36% | |
| NVDA |
Nvidia Corp
PUT
CALL
+ SHARES
Technology
|
Reduced | 14,589,908 | $2,544,479,955 | 5.31% | |
| TSLA |
Tesla, Inc.
PUT
CALL
+ SHARES
Consumer Cyclical
|
Added | 4,291,800 | $1,595,476,650 | 3.33% | |
| AAPL |
Apple Inc.
PUT
CALL
+ SHARES
Technology
|
Added | 5,246,065 | $1,331,398,836 | 2.78% | |
| GOOGL |
Alphabet Inc.
PUT
CALL
+ SHARES
Communication Services
|
Reduced | 2,637,871 | $758,546,184 | 1.58% | |
| META |
Meta Platforms, Inc.
PUT
CALL
+ SHARES
Communication Services
|
Reduced | 1,149,272 | $657,532,989 | 1.37% | |
| WBD |
Warner Bros. Discovery, Inc.
PUT
CALL
+ SHARES
Communication Services
|
Added | 19,478,200 | $534,871,372 | 1.12% | |
| AVGO |
Broadcom Inc.
PUT
CALL
+ SHARES
Technology
|
Reduced | 1,427,895 | $441,947,781 | 0.92% | |
| AMD |
Advanced Micro Devices Inc
PUT
CALL
+ SHARES
Technology
|
Reduced | 1,757,329 | $357,493,438 | 0.75% | |
| NBIS |
Nebius Group N.V.
PUT
Communication Services
|
Added | 2,161,000 | $224,225,360 | 0.47% | |
| ORCL |
Oracle Corp
PUT
CALL
+ SHARES
Technology
|
Added | 1,404,183 | $206,569,361 | 0.43% | |
| MU |
Micron Technology Inc
PUT
CALL
+ SHARES
Technology
|
Added | 527,992 | $178,376,817 | 0.37% | |
| XOM |
ExxonMobil Holdings Corp
PUT
CALL
+ SHARES
Energy
|
Added | 1,043,828 | $177,095,858 | 0.37% | |
| PLTR |
Palantir Technologies Inc.
PUT
CALL
+ SHARES
Technology
|
Added | 1,171,718 | $171,398,909 | 0.36% | |
| JPM |
Jpmorgan Chase & Co
PUT
CALL
+ SHARES
Financial Services
|
Added | 568,844 | $167,331,151 | 0.35% | |
| BRK-B |
Berkshire Hathaway Inc
PUT
CALL
+ SHARES
Financial Services
|
Added | 318,107 | $152,436,874 | 0.32% | |
| IBIT |
iShares Bitcoin Trust ETF
PUT
|
Added | 3,570,000 | $137,159,400 | 0.29% | |
| V |
Visa Inc.
PUT
CALL
+ SHARES
Financial Services
|
Added | 385,189 | $116,419,523 | 0.24% | |
| WMT |
Walmart Inc.
PUT
CALL
+ SHARES
Consumer Defensive
|
Added | 884,145 | $109,881,540 | 0.23% | |
| LLY |
ELI LILLY & Co
PUT
CALL
+ SHARES
Healthcare
|
Added | 118,707 | $109,183,137 | 0.23% | |
| BAC |
Bank Of America Corp /De/
PUT
CALL
+ SHARES
Financial Services
|
Added | 2,215,397 | $108,000,603 | 0.23% | |
| NFLX |
Netflix Inc
PUT
CALL
+ SHARES
Communication Services
|
Reduced | 1,110,285 | $106,753,902 | 0.22% | |
| IBM |
International Business Machines Corp
PUT
CALL
+ SHARES
Technology
|
Reduced | 438,117 | $106,195,179 | 0.22% | |
| JNJ |
Johnson & Johnson
PUT
CALL
+ SHARES
Healthcare
|
Added | 419,133 | $102,452,870 | 0.21% | |
| INTC |
Intel Corp
PUT
CALL
+ SHARES
Technology
|
Reduced | 2,208,455 | $97,459,119 | 0.20% | |
| CVX |
Chevron Corp
PUT
CALL
Energy
|
Added | 405,600 | $83,918,640 | 0.18% | |
| COST |
Costco Wholesale Corp /New
PUT
CALL
+ SHARES
Consumer Defensive
|
Added | 83,225 | $82,927,886 | 0.17% | |
| MA |
Mastercard Inc
PUT
CALL
+ SHARES
Financial Services
|
Added | 162,142 | $81,015,871 | 0.17% | |
| CRM |
Salesforce, Inc.
PUT
CALL
+ SHARES
Technology
|
Added | 388,549 | $72,530,441 | 0.15% | |
| AMAT |
Applied Materials Inc /De
PUT
CALL
+ SHARES
Technology
|
Reduced | 202,576 | $69,238,451 | 0.14% | |
| PANW |
Palo Alto Networks Inc
PUT
CALL
+ SHARES
Technology
|
Added | 421,191 | $67,525,341 | 0.14% | |
| ADBE |
Adobe Inc.
PUT
CALL
+ SHARES
Technology
|
Added | 271,815 | $66,072,790 | 0.14% | |
| C |
Citigroup Inc
PUT
CALL
+ SHARES
Financial Services
|
Added | 566,124 | $64,204,122 | 0.13% | |
| CAT |
Caterpillar Inc
PUT
CALL
+ SHARES
Industrials
|
Reduced | 89,813 | $63,628,917 | 0.13% | |
| PG |
PROCTER & GAMBLE Co
PUT
CALL
+ SHARES
Consumer Defensive
|
Added | 434,955 | $62,824,900 | 0.13% | |
| WFC |
Wells Fargo & Company/Mn
PUT
CALL
+ SHARES
Financial Services
|
Added | 777,257 | $61,877,429 | 0.13% | |
| BMY |
Bristol Myers Squibb Co
PUT
CALL
+ SHARES
Healthcare
|
Added | 1,007,942 | $61,131,682 | 0.13% | |
| WBS |
Webster Financial Corp
Financial Services
|
NEW | 849,500 | $58,972,290 | 0.12% | |
| MRK |
Merck & Co., Inc.
PUT
CALL
+ SHARES
Healthcare
|
Added | 464,672 | $55,895,394 | 0.12% | |
| RTX |
RTX Corp
PUT
CALL
+ SHARES
Industrials
|
Added | 289,203 | $55,787,258 | 0.12% | |
| LRCX |
Lam Research Corp
PUT
CALL
+ SHARES
Technology
|
Added | 259,590 | $55,463,999 | 0.12% | |
| UBER |
Uber Technologies, Inc
PUT
CALL
+ SHARES
Technology
|
Added | 766,131 | $55,107,802 | 0.11% | |
| GS |
Goldman Sachs Group Inc
PUT
CALL
+ SHARES
Financial Services
|
Added | 64,343 | $54,433,534 | 0.11% | |
| ABBV |
AbbVie Inc.
PUT
CALL
+ SHARES
Healthcare
|
Reduced | 244,161 | $53,102,575 | 0.11% | |
| EA |
Electronic Arts Inc.
PUT
CALL
+ SHARES
Communication Services
|
Added | 257,300 | $52,455,751 | 0.11% | |
| HD |
Home Depot, Inc.
PUT
CALL
+ SHARES
Consumer Cyclical
|
Added | 156,865 | $51,591,329 | 0.11% | |
| MS |
Morgan Stanley
PUT
CALL
+ SHARES
Financial Services
|
Added | 311,703 | $51,296,962 | 0.11% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.