CAPSTONE INVESTMENT ADVISORS, LLC
CIK
1426196
Location
NEW YORK, NY
Portfolio Value
Small
$227,410,348
Diversification
Moderately concentrated
Filing Date
Global Rank
#149
/ 8,586
▲ 20
Top Industry
Semiconductors
17.8%
3Y Alpha vs SPY
+3.3%
Period ended 3 months ago
Filed May 15, 2026 · 32d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+93.2%
SPY
+78.1%
Annualised alpha
+3.3%
Max drawdown
−20.0%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
882 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% | $1,428,480,355 |
| Industrials | 1.8% | $883,649,811 |
| Healthcare | 1.7% | $808,754,606 |
| Consumer Defensive | 1.2% | $581,798,518 |
| Energy | 0.9% | $441,790,051 |
| Basic Materials | 0.5% | $227,410,348 |
| 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 | Exxon Mobil 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 | |
| SATS | 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. | ||||
51 positions ·
$227,410,348 total
· Basic Materials only
· 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 51 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| AA |
Alcoa Corp
Basic Materials
|
NEW | 543,665 | $36,061,299 | 15.86% | |
| LIN |
Linde PLC
Basic Materials
|
Added | 67,900 | $33,662,104 | 14.80% | |
| NEM |
NEWMONT Corp /DE/
Basic Materials
|
Added | 206,388 | $22,341,501 | 9.82% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Added | 376,218 | $22,114,094 | 9.72% | |
| RS |
Reliance, Inc.
Basic Materials
|
NEW | 61,560 | $18,709,315 | 8.23% | |
| WLK |
Westlake Corp
Basic Materials
|
Added | 135,808 | $15,865,090 | 6.98% | |
| LYB |
LyondellBasell Industries N.V.
Basic Materials
|
Added | 139,200 | $11,213,952 | 4.93% | |
| DOW |
Dow Inc.
Basic Materials
|
Reduced | 236,030 | $9,830,649 | 4.32% | |
| CRH |
Crh Public Ltd Co
Basic Materials
|
Added | 70,136 | $7,372,696 | 3.24% | |
| TECK |
Teck Resources Ltd
Basic Materials
|
NEW | 100,000 | $5,175,000 | 2.28% | |
| AU |
AngloGold Ashanti PLC
Basic Materials
|
NEW | 50,434 | $4,910,254 | 2.16% | |
| NUE |
Nucor Corp
Basic Materials
|
Added | 28,749 | $4,861,455 | 2.14% | |
| SHW |
Sherwin Williams Co
Basic Materials
|
Added | 12,800 | $4,103,040 | 1.80% | |
| APD |
Air Products & Chemicals, Inc.
Basic Materials
|
Reduced | 9,000 | $2,614,410 | 1.15% | |
| B |
Barrick Mining Corp
Basic Materials
|
Added | 56,909 | $2,321,318 | 1.02% | |
| MP |
MP Materials Corp. / DE
Basic Materials
|
Added | 47,954 | $2,314,260 | 1.02% | |
| CTVA |
Corteva, Inc.
Basic Materials
|
NEW | 26,586 | $2,225,514 | 0.98% | |
| CF |
CF Industries Holdings, Inc.
Basic Materials
|
Added | 16,600 | $2,155,344 | 0.95% | |
| FNV |
FRANCO NEVADA Corp
Basic Materials
|
NEW | 8,226 | $2,032,233 | 0.89% | |
| RIO |
Rio Tinto PLC
Basic Materials
|
Reduced | 18,900 | $1,763,181 | 0.78% | |
| ALB |
Albemarle Corp
Basic Materials
|
Reduced | 7,600 | $1,364,428 | 0.60% | |
| IOSP |
Innospec Inc.
Basic Materials
|
Added | 15,757 | $1,150,576 | 0.51% | |
| PPG |
Ppg Industries Inc
Basic Materials
|
Reduced | 9,000 | $961,920 | 0.42% | |
| STLD |
Steel Dynamics Inc
Basic Materials
|
Reduced | 5,041 | $907,380 | 0.40% | |
| OR |
OR Royalties Inc.
Basic Materials
|
Reduced | 21,751 | $826,973 | 0.36% | |
| DD |
DuPont de Nemours, Inc.
Basic Materials
|
Reduced | 17,300 | $792,340 | 0.35% | |
| MTX |
Minerals Technologies Inc
Basic Materials
|
Reduced | 10,820 | $767,354 | 0.34% | |
| WFG |
West Fraser Timber Co., Ltd
Basic Materials
|
NEW | 10,500 | $685,545 | 0.30% | |
| AMR |
Alpha Metallurgical Resources, Inc.
Basic Materials
|
Added | 3,316 | $680,675 | 0.30% | |
| BCPC |
Balchem Corp
Basic Materials
|
Reduced | 3,599 | $609,958 | 0.27% | |
| CLF |
Cleveland-Cliffs Inc.
Basic Materials
|
Added | 65,552 | $553,914 | 0.24% | |
| KALU |
Kaiser Aluminum Corp
Basic Materials
|
NEW | 4,393 | $529,400 | 0.23% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
NEW | 6,583 | $496,753 | 0.22% | |
| MOS |
Mosaic Co
Basic Materials
|
Reduced | 18,700 | $476,850 | 0.21% | |
| RPM |
Rpm International Inc/De/
Basic Materials
|
Reduced | 4,654 | $462,607 | 0.20% | |
| CBT |
Cabot Corp
Basic Materials
|
Added | 5,213 | $392,591 | 0.17% | |
| TMC |
TMC the metals Co Inc.
Basic Materials
|
Added | 75,904 | $354,471 | 0.16% | |
| NGVT |
Ingevity Corp
Basic Materials
|
NEW | 4,887 | $348,101 | 0.15% | |
| HL |
Hecla Mining Co/De/
Basic Materials
|
Added | 18,366 | $342,158 | 0.15% | |
| ESI |
Element Solutions Inc
Basic Materials
|
NEW | 9,815 | $335,084 | 0.15% | |
| FSM |
Fortuna Mining Corp.
Basic Materials
|
Added | 33,159 | $329,268 | 0.14% | |
| HYMC |
Hycroft Mining Holding Corp
Basic Materials
|
NEW | 9,211 | $324,227 | 0.14% | |
| MTRN |
MATERION Corp
Basic Materials
|
Reduced | 2,167 | $313,456 | 0.14% | |
| CGAU |
Centerra Gold Inc.
Basic Materials
|
NEW | 17,204 | $306,059 | 0.13% | |
| ERO |
Ero Copper Corp.
Basic Materials
|
Reduced | 10,780 | $287,502 | 0.13% | |
| HBM |
Hudbay Minerals Inc.
Basic Materials
|
NEW | 11,396 | $238,176 | 0.10% | |
| SVM |
Silvercorp Metals Inc
Basic Materials
|
NEW | 21,134 | $226,979 | 0.10% | |
| BCC |
BOISE CASCADE Co
Basic Materials
|
NEW | 2,815 | $213,517 | 0.09% | |
| IE |
Ivanhoe Electric Inc.
Basic Materials
|
NEW | 16,495 | $194,970 | 0.09% | |
| ALM |
Almonty Industries Inc.
Basic Materials
|
NEW | 13,389 | $193,872 | 0.09% |