Stocks
WBD
CAPSTONE INVESTMENT ADVISORS, LLC

CAPSTONE INVESTMENT ADVISORS, LLC

CIK

1426196

City

NEW YORK

State / Country

Stock

WBD — Warner Bros. Discovery, Inc.

Top Portfolio Positions

881 positions · $47,767,643,512 total · as of Mar 31, 2026

Ticker	Company	Shares	Value (USD)	% of Portfolio
QQQ	Invesco Qqq Trust, Series 1	26,647,688	$15,380,512,559	32.20%
SPY	Spdr S&P 500 Etf Trust	17,093,524	$11,116,602,398	23.27%
AMZN	Amazon Com Inc Consumer Cyclical	14,377,710	$2,994,445,661	6.27%
MSFT	Microsoft Corp Technology	6,944,697	$2,570,718,488	5.38%
NVDA	Nvidia Corp Technology	14,589,908	$2,544,479,955	5.33%
TSLA	Tesla, Inc. Consumer Cyclical	4,291,800	$1,595,476,650	3.34%
AAPL	Apple Inc. Technology	5,246,065	$1,331,398,836	2.79%
GOOGL	Alphabet Inc. Communication Services	2,637,871	$758,546,184	1.59%
META	Meta Platforms, Inc. Communication Services	1,149,272	$657,532,989	1.38%
WBD	Warner Bros. Discovery, Inc. Communication Services	19,478,200	$534,871,372	1.12%

Portfolio Trend

31 quarters · across all stocks

Holdings in WBD

Compact Export CSV

Shares Held

Position Value (USD)

47 of 47 shown

Report Date	Value (USD)	Shares	Change	Type	Discretion	Filed
2026-03-31	$253,148,248	9,218,800	-9.7%	Put	Defined	2026-05-15
2026-03-31	$280,229,300	10,205,000	+18659.2%	Shares	Defined	2026-05-15
2026-03-31	$1,493,824	54,400	-98.5%	Call	Defined	2026-05-15
2025-12-31	$107,279,568	3,722,400	+4154.2%	Put	Defined	2026-02-17
2025-12-31	$2,521,750	87,500	-97.7%	Call	Defined	2026-02-17
2025-12-31	$108,075,000	3,750,000	+4080.6%	Shares	Defined	2026-02-17
2025-09-30	$1,751,841	89,700	-67.8%	Call	Defined	2025-11-14
2025-09-30	$5,439,105	278,500	+48.1%	Put	Defined	2025-11-14
2025-06-30	$2,155,626	188,100	+138.7%	Put	Defined	2025-08-14
2025-06-30	$902,887	78,786	+35.6%	Shares	Defined	2025-08-14
2025-06-30	$665,826	58,100	-81.0%	Call	Defined	2025-08-14
2025-03-31	$3,279,088	305,600	+815.0%	Put	Sole	2025-05-15
2025-03-31	$358,382	33,400	-67.8%	Call	Sole	2025-05-15
2025-03-31	$1,111,316	103,571	-84.2%	Shares	Sole	2025-05-15
2024-12-31	$6,933,920	656,000	+225.5%	Put	Sole	2025-02-14
2024-12-31	$2,130,489	201,560	+147.6%	Shares	Sole	2025-02-14
2024-12-31	$860,398	81,400	-67.6%	Call	Sole	2025-02-14
2024-09-30	$2,075,238	251,544	-50.7%	Shares	Sole	2024-11-14
2024-09-30	$4,208,325	510,100	+896.3%	Put	Sole	2024-11-14
2024-09-30	$422,400	51,200	-88.9%	Call	Sole	2024-11-14
2024-06-30	$3,418,680	459,500	+53.7%	Put	Sole	2024-08-14
2024-06-30	$2,224,061	298,933	+529.3%	Shares	Sole	2024-08-14
2024-06-30	$353,400	47,500	-75.0%	Call	Sole	2024-08-14
2024-03-31	$1,657,827	189,900	+43.9%	Put	Sole	2024-05-01
2024-03-31	$1,152,141	131,975	+177.8%	Shares	Sole	2024-05-01
2024-03-31	$414,675	47,500	-73.3%	Call	Sole	2024-05-01
2023-12-31	$2,022,521	177,726	+92.8%	Shares	Sole	2024-02-12
2023-12-31	$1,049,236	92,200	-76.6%	Call	Sole	2024-02-12
2023-12-31	$4,491,686	394,700	+700.6%	Put	Sole	2024-02-12
2023-09-30	$535,398	49,300	-84.8%	Call	Sole	2023-11-13
2023-09-30	$3,533,844	325,400	+96.7%	Put	Sole	2023-11-13
2023-09-30	$1,796,678	165,440	+73.0%	Shares	Sole	2023-11-13
2023-06-30	$1,199,313	95,639	-69.1%	Shares	Sole	2023-08-10
2023-06-30	$3,886,146	309,900	+439.0%	Put	Sole	2023-08-10
2023-06-30	$721,050	57,500	-79.5%	Call	Sole	2023-08-10
2023-03-31	$4,228,000	280,000	+707.3%	Put	Sole	2023-05-09
2023-03-31	$523,728	34,684	-34.7%	Shares	Sole	2023-05-09
2023-03-31	$801,810	53,100	+387.2%	Call	Sole	2023-05-09
2022-12-31	$103,332	10,900	+65.2%	Put	Sole	2023-02-10
2022-12-31	$62,568	6,600	-95.6%	Call	Sole	2023-02-10
2022-12-31	$1,419,573	149,744	+419.9%	Shares	Sole	2023-02-10
2022-09-30	$331,200	28,800	-81.7%	Put	Sole	2022-11-10
2022-09-30	$1,806,696	157,104	+2280.4%	Shares	Sole	2022-11-10
2022-09-30	$75,900	6,600	-38.3%	Call	Sole	2022-11-10
2022-06-30	$143,594	10,700	-88.5%	Call	Sole	2022-08-15
2022-06-30	$1,245,376	92,800	+656.1%	Put	Sole	2022-08-15
2022-06-30	$164,703	12,273	—	Shares	Sole	2022-08-15
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