CAPSTONE INVESTMENT ADVISORS, LLC
13F Reported Value
ⓘ$106.1B
incl. option notional
Equity Holdings
ⓘ$66.4B
Option Notional
ⓘ$39.7B
$31.6B puts / $8.0B calls
Holdings
1,641
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
CAPSTONE INVESTMENT ADVISORS, LLC disclosed 1,641 positions worth $106.1B in its Form 13F-HR for Q2 2026 — $66.4B in common stock plus $39.7B of put/call option positions (reported at underlying notional value, not premium at risk), led by $SMCI (Super Micro Computer, Inc.) at 34.4% of the equity portfolio, followed by $GOOG. During the quarter the fund opened 387 new positions and exited 316. The portfolio is most concentrated in Technology (60.3% of disclosed assets). All figures are sourced directly from CAPSTONE INVESTMENT ADVISORS, LLC’s Form 13F-HR filing with the SEC under CIK 1426196.
AI Fund Analysis
Concentrating
$MSFT
$NVDA
$WDC
$AMZN
$ORCL
$GIS
$MSTR
$BMRNSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- 62.0#740
Quality
$22.9B374,066,000 sh - 78.2#57
Quality
$10.2B160,040,000 sh ALPHABET INC - DEP SHS RP1/20 B
—Quality
$10.1B160,040,000 shORACLE CORP - 6.5 DEP CUM SR D
—Quality
$9.0B170,030,000 sh- —
Quality
$7.0B9,339,800 sh - $5.8B7,834,500 sh
- 85.9
Quality
$2.3B11,290,900 sh - $2.1B2,790,400 sh
- 79.8
Quality
$1.8B4,805,900 sh - 79.8
Quality
$1.6B4,303,251 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Super Micro Computer, Inc.$SMCI | 62.0#740 | $22.9B | 374,066,000 |
 Alphabet Inc.$GOOG | 78.2#57 | $10.2B | 160,040,000 |
| ALPHABET INC - DEP SHS RP1/20 B | — | $10.1B | 160,040,000 |
| ORACLE CORP - 6.5 DEP CUM SR D | — | $9.0B | 170,030,000 |
 SPDR S&P 500 ETF TRUST$SPYPUT | — | $7.0B | 9,339,800 |
 INVESCO QQQ TRUST, SERIES 1$QQQPUT | — | $5.8B | 7,834,500 |
| NVIDIA CORP$NVDAPUT | 85.9 | $2.3B | 11,290,900 |
| INVESCO QQQ TRUST, SERIES 1$QQQCALL | — | $2.1B | 2,790,400 |
| MICROSOFT CORP$MSFTPUT | 79.8 | $1.8B | 4,805,900 |
| MICROSOFT CORP$MSFT | 79.8 | $1.6B | 4,303,251 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of CAPSTONE INVESTMENT ADVISORS, LLC's 1,641 positions.
Showing top 10 of 1,641 holdings.
Sector Allocation
Technology
$40.1B
Other
$21.8B
Industrials
$1.2B
Consumer Discretionary
$960.8M
Healthcare
$652.3M
Communication Services
$562.8M
Financials
$526.2M
Consumer Staples
$259.3M
Top Holdings — CAPSTONE INVESTMENT ADVISORS, LLC (Q2 2026)
Top 150 of 1,641 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SMCI | Super Micro Computer, Inc. | $22.9B | 34.4% | NEW | 62 |
| 2 | $GOOG | Alphabet Inc. | $10.2B | 15.3% | NEW | 78.2 |
| 3 | — | ALPHABET INC - DEP SHS RP1/20 B | $10.1B | 15.2% | NEW | — |
| 4 | — | ORACLE CORP - 6.5 DEP CUM SR D | $9.0B | 13.5% | +0% | — |
| 5 | $SPYPUT | SPDR S&P 500 ETF TRUST | $7.0B | — | -39% | — |
| 6 | $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $5.8B | — | -54% | — |
| 7 | $NVDAPUT | NVIDIA CORP | $2.3B | — | +38% | 85.9 |
| 8 | $QQQCALL | INVESCO QQQ TRUST, SERIES 1 | $2.1B | — | -71% | — |
| 9 | $MSFTPUT | MICROSOFT CORP | $1.8B | — | +40% | 79.8 |
| 10 | $MSFT | MICROSOFT CORP | $1.6B | 2.4% | +55% | 79.8 |
| 11 | $NVDA | NVIDIA CORP | $1.4B | 2.1% | +71% | 85.9 |
| 12 | $WDC | WESTERN DIGITAL CORP | $1.4B | 2.0% | +0% | 80.7 |
| 13 |  $AAPLPUT | Apple Inc. | $1.2B | — | +21% | 76.4 |
| 14 | — | ISHARES TR - CORE S&P500 ETF | $1.2B | 1.8% | +0% | — |
| 15 | $AMZNPUT | AMAZON COM INC | $1.1B | — | -38% | 68.7 |
| 16 |  $TSLAPUT | Tesla, Inc. | $884.9M | — | -3% | 53.9 |
| 17 | $AMZN | AMAZON COM INC | $736.3M | 1.1% | -46% | 68.7 |
| 18 | — | ISHARES TR - IBOXX INV CP ETF | $681.4M | — | +22% | — |
| 19 | — | ISHARES TR - RUSSELL 2000 ETF | $673.0M | — | +1004% | — |
| 20 | $SPYCALL | SPDR S&P 500 ETF TRUST | $664.9M | — | -21% | — |
| 21 |  $NBISPUT | Nebius Group N.V. | $622.9M | — | +4% | — |
| 22 |  $MUPUT | MICRON TECHNOLOGY INC | $601.6M | — | +25% | 86.2 |
| 23 | — | VANGUARD INDEX FDS - S&P 500 ETF SHS | $589.2M | 0.9% | +0% | — |
| 24 | $TSLA | Tesla, Inc. | $556.4M | 0.8% | -9% | 53.9 |
| 25 | — | SELECT SECTOR SPDR TR - ST STR FINL ETF | $532.4M | — | +69% | — |
| 26 |  $GOOGLPUT | Alphabet Inc. | $522.0M | — | -20% | 78.2 |
| 27 | $GOOGPUT | Alphabet Inc. | $472.8M | — | -22% | 78.2 |
| 28 | — | ISHARES TR - CHINA LG-CAP ETF | $424.2M | — | +15% | — |
| 29 |  $METAPUT | Meta Platforms, Inc. | $384.5M | — | +36% | 79.6 |
| 30 | — | ISHARES TR - CHINA LG-CAP ETF | $365.6M | — | +15% | — |
| 31 |  $AMDPUT | ADVANCED MICRO DEVICES INC | $355.0M | — | -37% | 79.8 |
| 32 | $AAPLCALL | Apple Inc. | $354.4M | — | +53% | 76.4 |
| 33 | $META | Meta Platforms, Inc. | $335.1M | 0.5% | +75% | 79.6 |
| 34 | $NVDACALL | NVIDIA CORP | $316.2M | — | -34% | 85.9 |
| 35 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | $314.4M | 0.5% | +1256% | — |
| 36 |  $AVGOPUT | Broadcom Inc. | $313.1M | — | +12% | 84.5 |
| 37 | — | SELECT SECTOR SPDR TR - ST STR FINL ETF | $288.3M | — | -25% | — |
| 38 | — | ISHARES TR - IBOXX HI YD ETF | $284.1M | — | -20% | — |
| 39 |  $INTCPUT | INTEL CORP | $283.3M | — | +12% | 45.6 |
| 40 | $AAPL | Apple Inc. | $270.5M | 0.4% | -5% | 76.4 |
| 41 | $MU | MICRON TECHNOLOGY INC | $265.9M | 0.4% | +331% | 86.2 |
| 42 |  $BRK.BPUT | BERKSHIRE HATHAWAY INC | $243.1M | — | +99% | 73.8 |
| 43 | $TSLACALL | Tesla, Inc. | $232.2M | — | -17% | 53.9 |
| 44 | — | ISHARES TR - MSCI EMG MKT ETF | $215.6M | — | -29% | — |
| 45 | — | VANECK ETF TRUST - SEMICONDUCTR ETF | $214.1M | — | NEW | — |
| 46 |  $ECHO | EchoStar CORP | $205.0M | 0.3% | +25% | 32.8 |
| 47 |  $NOK | NOKIA CORP | $193.8M | 0.3% | NEW | — |
| 48 | — | SPDR SERIES TRUST - ST STR SP REGBNK | $193.5M | — | +1111% | — |
| 49 | $NOKPUT | NOKIA CORP | $193.2M | — | NEW | — |
| 50 | — | SPDR SERIES TRUST - ST STR SP REGBNK | $191.8M | — | +4213% | — |
| 51 | $AMZNCALL | AMAZON COM INC | $186.3M | — | -45% | 68.7 |
| 52 | $ORCL | ORACLE CORP | $178.4M | 0.3% | +38% | 66.2 |
| 53 | — | ISHARES TR - RUSSELL 2000 ETF | $171.3M | — | -65% | — |
| 54 | $AVGO | Broadcom Inc. | $169.3M | 0.3% | +19% | 84.5 |
| 55 |  $JPMPUT | JPMORGAN CHASE & CO | $164.6M | — | +19% | 70.7 |
| 56 | $MSFTCALL | MICROSOFT CORP | $158.0M | — | -44% | 79.8 |
| 57 |  $AMATPUT | APPLIED MATERIALS INC /DE | $146.2M | — | +35% | 72.3 |
| 58 |  $SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | $138.8M | 0.2% | NEW | — |
| 59 |  $LLYPUT | ELI LILLY & Co | $138.3M | — | +21% | 87.5 |
| 60 |  $SNDKPUT | Sandisk Corp | $133.7M | — | +77% | 87.7 |
| 61 |  $IDCC | InterDigital, Inc. | $127.7M | 0.2% | +1% | 65 |
| 62 |  $BBIO | BridgeBio Pharma, Inc. | $124.5M | 0.2% | +29% | 36.9 |
| 63 | $GOOGLCALL | Alphabet Inc. | $124.0M | — | -36% | 78.2 |
| 64 |  $XOM.R34088PUT | EXXON MOBIL CORP | $122.4M | — | +2% | 57.9 |
| 65 | $METACALL | Meta Platforms, Inc. | $122.1M | — | -30% | 79.6 |
| 66 | $MSTRPUT | Strategy Inc | $119.3M | — | +2585% | 17.9 |
| 67 |  $LRCXPUT | LAM RESEARCH CORP | $115.4M | — | +29% | 79.4 |
| 68 | $MSTR | Strategy Inc | $112.9M | 0.2% | +1948% | 17.9 |
| 69 | $AVGOCALL | Broadcom Inc. | $109.2M | — | -6% | 84.5 |
| 70 |  $PLTR | Palantir Technologies Inc. | $107.9M | 0.2% | +188% | 84.6 |
| 71 | $GOOGCALL | Alphabet Inc. | $106.2M | — | +19% | 78.2 |
| 72 |  $IBITPUT | iShares Bitcoin Trust ETF | $100.5M | — | -15% | — |
| 73 | $BRK.B | BERKSHIRE HATHAWAY INC | $98.8M | 0.1% | +628% | 73.8 |
| 74 | $GOOGL | Alphabet Inc. | $96.1M | 0.1% | -68% | 78.2 |
| 75 |  $WBD | Warner Bros. Discovery, Inc. | $90.8M | 0.1% | -67% | 41.4 |
| 76 |  $JNJPUT | JOHNSON & JOHNSON | $90.1M | — | -0% | 69 |
| 77 |  $CATPUT | CATERPILLAR INC | $89.8M | — | +19% | 66.5 |
| 78 | $ORCLPUT | ORACLE CORP | $87.8M | — | +72% | 66.2 |
| 79 | $PLTRPUT | Palantir Technologies Inc. | $86.6M | — | +1% | 84.6 |
| 80 |  $NET | Cloudflare, Inc. | $86.2M | 0.1% | -27% | 56.4 |
| 81 |  $CHEF | Chefs' Warehouse, Inc. | $79.8M | 0.1% | -14% | 54.7 |
| 82 |  $CSCOPUT | CISCO SYSTEMS, INC. | $77.4M | — | +80% | 70.3 |
| 83 |  $GTLS | CHART INDUSTRIES INC | $77.3M | 0.1% | +127% | 49 |
| 84 |  $PANWPUT | Palo Alto Networks Inc | $76.7M | — | -9% | 65.5 |
| 85 |  $BACPUT | BANK OF AMERICA CORP /DE/ | $76.5M | — | -4% | 67.6 |
| 86 |  $GSPUT | GOLDMAN SACHS GROUP INC | $76.2M | — | +52% | 73.5 |
| 87 | $SPY | SPDR S&P 500 ETF TRUST | $75.7M | 0.1% | -83% | — |
| 88 |  $BABA | Alibaba Group Holding Ltd | $74.2M | 0.1% | +9612% | — |
| 89 |  $WBS | WEBSTER FINANCIAL CORP | $71.5M | 0.1% | +10% | 63.3 |
| 90 |  $LYV | Live Nation Entertainment, Inc. | $71.4M | 0.1% | NEW | 52.9 |
| 91 |  $VPUT | VISA INC. | $70.0M | — | +10% | 82.9 |
| 92 |  $WMTPUT | Walmart Inc. | $69.7M | — | +8% | 60.2 |
| 93 | — | ISHARES TR - CHINA LG-CAP ETF | $69.5M | 0.1% | +110% | — |
| 94 | $BABAPUT | Alibaba Group Holding Ltd | $69.1M | — | +320% | — |
| 95 |  $KVUE | Kenvue Inc. | $68.8M | 0.1% | +35% | 60.3 |
| 96 |  $MIRM | Mirum Pharmaceuticals, Inc. | $68.3M | 0.1% | -32% | 35 |
| 97 |  $GEVPUT | GE Vernova Inc. | $67.7M | — | +31% | 81.1 |
| 98 |  $CPUT | CITIGROUP INC | $66.8M | — | +7% | 65 |
| 99 |  $AKAM | AKAMAI TECHNOLOGIES INC | $65.7M | 0.1% | NEW | 59.5 |
| 100 |  $PGPUT | PROCTER & GAMBLE Co | $65.7M | — | +34% | 64.6 |
| 101 |  $CVXPUT | CHEVRON CORP | $65.2M | — | +15% | 62.8 |
| 102 |  $MRVLPUT | Marvell Technology, Inc. | $64.8M | — | +0% | 76.5 |
| 103 |  $XERS | Xeris Biopharma Holdings, Inc. | $62.6M | 0.1% | +0% | 56.5 |
| 104 | — | SELECT SECTOR SPDR TR - ST STR ENERG ETF | $61.9M | 0.1% | +0% | — |
| 105 |  $NFLXPUT | NETFLIX INC | $61.2M | — | +15% | 78.8 |
| 106 | $BMRN | BIOMARIN PHARMACEUTICAL INC | $60.8M | 0.1% | +15% | 58.2 |
| 107 |  $UNHPUT | UNITEDHEALTH GROUP INC | $59.3M | — | +41% | 62.7 |
| 108 | $WBDPUT | Warner Bros. Discovery, Inc. | $58.4M | — | -76% | 41.4 |
| 109 |  $UBER | Uber Technologies, Inc | $57.3M | 0.1% | +46% | 73.5 |
| 110 | $SPCXCALL | SPACE EXPLORATION TECHNOLOGIES CORP | $55.5M | — | NEW | — |
| 111 | $LRCXCALL | LAM RESEARCH CORP | $53.4M | — | +183% | 79.4 |
| 112 |  $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $52.7M | 0.1% | +132% | — |
| 113 |  $QCOMPUT | QUALCOMM INC/DE | $52.4M | — | +32% | 70.5 |
| 114 |  $STXPUT | Seagate Technology Holdings plc | $49.2M | — | +91% | — |
| 115 |  $ETSY | ETSY INC | $48.3M | 0.1% | NEW | 61.2 |
| 116 |  $MRKPUT | Merck & Co., Inc. | $47.0M | — | -8% | 59.9 |
| 117 |  $KOPUT | COCA COLA CO | $46.7M | — | +34% | 69.5 |
| 118 |  $CBRS | Cerebras Systems Inc. | $44.7M | 0.1% | NEW | — |
| 119 | $ETSY | ETSY INC | $44.6M | 0.1% | NEW | 61.2 |
| 120 | $MUCALL | MICRON TECHNOLOGY INC | $44.3M | — | -32% | 86.2 |
| 121 |  $ROKU | ROKU, INC | $44.2M | 0.1% | +1652% | 66.7 |
| 122 | $SNDK | Sandisk Corp | $44.2M | 0.1% | +421% | 87.7 |
| 123 | $ETSY | ETSY INC | $43.9M | 0.1% | NEW | 61.2 |
| 124 |  $RTXPUT | RTX Corp | $43.8M | — | +4% | 73.2 |
| 125 |  $BSY | BENTLEY SYSTEMS INC | $43.8M | 0.1% | +9% | 67.9 |
| 126 |  $ABBVPUT | AbbVie Inc. | $42.8M | — | -6% | 72.6 |
| 127 |  $ADBEPUT | ADOBE INC. | $42.2M | — | +59% | 77.6 |
| 128 |  $DELLPUT | Dell Technologies Inc. | $41.8M | — | +110% | 71.2 |
| 129 | — | ISHARES TR - MSCI EMG MKT ETF | $41.4M | 0.1% | -17% | — |
| 130 |  $HDPUT | HOME DEPOT, INC. | $41.2M | — | +4% | 60.3 |
| 131 |  $MSPUT | MORGAN STANLEY | $41.1M | — | -3% | 75.8 |
| 132 |  $GVA | GRANITE CONSTRUCTION INC | $40.9M | 0.1% | NEW | 54.4 |
| 133 |  $WFCPUT | WELLS FARGO & COMPANY/MN | $40.6M | — | -10% | 61.8 |
| 134 |  $MAPUT | Mastercard Inc | $40.3M | — | -13% | 85.1 |
| 135 | $ADBE | ADOBE INC. | $40.0M | 0.1% | +130% | 77.6 |
| 136 |  $GEPUT | GENERAL ELECTRIC CO | $39.9M | — | +8% | 73.8 |
| 137 | $CSCOCALL | CISCO SYSTEMS, INC. | $39.8M | — | +43% | 70.3 |
| 138 | $AMDCALL | ADVANCED MICRO DEVICES INC | $39.7M | — | +1% | 79.8 |
| 139 |  $CRWDPUT | CrowdStrike Holdings, Inc. | $39.2M | — | +5% | 67.7 |
| 140 |  $COSTPUT | COSTCO WHOLESALE CORP /NEW | $38.8M | — | +1% | 66.2 |
| 141 | $NFLX | NETFLIX INC | $37.8M | 0.1% | +417% | 78.8 |
| 142 | $WDCPUT | WESTERN DIGITAL CORP | $37.7M | — | +27% | 80.7 |
| 143 | $JPMCALL | JPMORGAN CHASE & CO | $37.2M | — | +20% | 70.7 |
| 144 |  $LRN | Stride, Inc. | $36.4M | 0.1% | +87% | 64.5 |
| 145 | $AMD | ADVANCED MICRO DEVICES INC | $35.4M | 0.1% | -91% | 79.8 |
| 146 |  $VZPUT | VERIZON COMMUNICATIONS INC | $35.4M | — | +35% | 65.8 |
| 147 |  $DXCM | DEXCOM INC | $34.9M | 0.1% | NEW | 76 |
| 148 | $AMATCALL | APPLIED MATERIALS INC /DE | $34.8M | — | -5% | 72.3 |
| 149 |  $IBMPUT | INTERNATIONAL BUSINESS MACHINES CORP | $34.8M | — | -47% | 70 |
| 150 | $WMTCALL | Walmart Inc. | $34.3M | — | +4% | 60.2 |
New Positions (387)
$NOK NOKIA CORP$193.8M$NOKPUT NOKIA CORP$193.2M$SPCX SPACE EXPLORATION TECHNOLOGIES CORP$138.8M$SPCXCALL SPACE EXPLORATION TECHNOLOGIES CORP$55.5M$ETSY ETSY INC$48.3M$CBRS Cerebras Systems Inc.$44.7M$ETSY ETSY INC$44.6M$ETSY ETSY INC$43.9M
$XMTR Xometry, Inc.$30.5MExited Positions (316)
$CNX CNX Resources Corp
$PRGS PROGRESS SOFTWARE CORP /MA
$ASND Ascendis Pharma A/S
$CNMD CONMED Corp
$EA ELECTRONIC ARTS INC.
$FDXPUT FEDEX CORP
$VTR Ventas, Inc.
$SO SOUTHERN CO$PANW Palo Alto Networks Inc
$CWAN Clearwater Analytics Holdings, Inc.
$FLS FLOWSERVE CORP
$HONPUT HONEYWELL INTERNATIONAL INC
$SPGIPUT S&P Global Inc.Browse Top Institutional Investors
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