CAPSTONE INVESTMENT ADVISORS, LLC

CIK: 0001426196SEC EDGAR →

Portfolio Value

$51.1B

Holdings

939

As of

Q4 2025

New Positions

431

Closed Positions

191

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	SPYPut SPDR S&P 500 ETF TR	20,856,080	$14.2B	27.84%
2	NDQPut INVESCO QQQ TR	7,433,672	$4.6B	8.94%
3	NVDAPut NVIDIA CORPORATION	23,202,701	$4.3B	8.47%
4	GOOGLPut ALPHABET INC	6,731,571	$2.1B	4.12%
5	IWMPut ISHARES TR	7,457,760	$1.8B	3.59%
6	AMZNPut AMAZON COM INC	7,638,568	$1.8B	3.45%
7	TSLAPut TESLA INC	3,553,787	$1.6B	3.12%
8	AAPLPut APPLE INC	4,898,889	$1.3B	2.60%
9	MSFTPut MICROSOFT CORP	2,662,232	$1.3B	2.52%
10	IVV ISHARES TR	1,780,940	$1.2B	2.39%

Quarterly Changes

Top Buys

NDQ↑ Increased

$3.0B

GOOGL↑ Increased

$1.1B

GOOG↑ Increased

$747.8M

VOONEW

$654.0M

IVV↑ Increased

$574.9M

Top Sells

SPY↓ Decreased

$3.1B

MSFT↓ Decreased

$1.7B

TSLA↓ Decreased

$1.1B

AMZN↓ Decreased

$769.8M

VOOCLOSED

$376.0M

New Positions (251)

VOO

$654.0M · 1.0M shares

NBIS

$151.0M · 1.8M shares

EWZ

$143.0M · 4.5M shares

DAY

$69.0M · 1.0M shares

CORZ

$69.0M · 4.8M shares

FLS

$47.0M · 690K shares

$33.0M · 251K shares

SATS 3.875 11/30/30

$29.0M · 8.7B shares

IREN 3.25 06/15/30

$26.0M · 10.7M shares

$25.0M · 337K shares

$23.0M · 599K shares

$21.0M · 101K shares

$20.0M · 489K shares

$17.0M · 284K shares

$16.0M · 150K shares

$15.0M · 14.7M shares

ARKK

$15.0M · 200K shares

FLR 1.125 08/15/29

$15.0M · 14.0M shares

NTST

$13.0M · 773K shares

GDX

$11.0M · 137K shares

MARA 0 03/01/30

$11.0M · 15.0M shares

MARA 0 06/01/31

$11.0M · 14.0M shares

$8.0M · 75K shares

$8.0M · 10.0M shares

$8.0M · 170K shares

$8.0M · 47K shares

$7.0M · 8.5M shares

$7.0M · 90K shares

$7.0M · 20K shares

$6.0M · 66K shares

$6.0M · 5.0M shares

$6.0M · 209K shares

$6.0M · 80K shares

$5.0M · 31K shares

$5.0M · 5.0M shares

$5.0M · 173K shares

$5.0M · 80K shares

$5.0M · 4.0M shares

$5.0M · 5.0M shares

$5.0M · 5.0M shares

$3.0M · 14K shares

$3.0M · 125K shares

$3.0M · 3.0M shares

$2.0M · 113K shares

$2.0M · 2.5M shares

$2.0M · 13K shares

$2.0M · 12K shares

$1.0M · 1.4M shares

$1.0M · 10K shares

$1.0M · 60K shares

$1.0M · 1.0M shares

$1.0M · 11K shares

$1.0M · 8K shares

$1.0M · 14K shares

$1.0M · 25K shares

$1.0M · 20K shares

$1.0M · 13K shares

$1.0M · 5K shares

$1.0M · 11K shares

$1.0M · 58K shares

$1.0M · 40K shares

$1.0M · 12K shares

$1.0M · 24K shares

$1.0M · 100K shares

$1.0M · 28K shares

$1.0M · 12K shares

$1.0M · 1.0M shares

$1.0M · 17K shares

$1.0M · 59K shares

$1.0M · 13K shares

$1.0M · 1.5M shares

$1.0M · 4K shares

$1.0M · 4K shares

$1.0M · 35K shares

$1.0M · 26K shares

$1.0M · 100K shares

$1.0M · 12K shares

$1.0M · 153K shares

$1.0M · 9K shares

$1.0M · 160K shares

$1.0M · 49K shares

$0 · 30K shares

$0 · 11K shares

$0 · 10K shares

$0 · 2K shares

$0 · 32K shares

$0 · 8K shares

$0 · 4K shares

OPEN

$0 · 29K shares

$0 · 6K shares

NMIH

$0 · 10K shares

LNT

$0 · 5K shares

$0 · 14K shares

$0 · 3K shares

$0 · 1K shares

$0 · 500K shares

$0 · 16K shares

$0 · 3K shares

$0 · 55K shares

$0 · 61 shares

$0 · 1K shares

$0 · 5K shares

$0 · 171K shares

$0 · 7K shares

$0 · 8K shares

$0 · 13K shares

$0 · 64K shares

TENB

$0 · 24K shares

SNDK

$0 · 4K shares

$0 · 9K shares

$0 · 15K shares

$0 · 20K shares

$0 · 10K shares

$0 · 3K shares

$0 · 3K shares

$0 · 9K shares

$0 · 14K shares

$0 · 13K shares

$0 · 13K shares

$0 · 10K shares

$0 · 23K shares

$0 · 94K shares

$0 · 4K shares

$0 · 27K shares

$0 · 6K shares

$0 · 13K shares

$0 · 3K shares

$0 · 24K shares

$0 · 12K shares

$0 · 15K shares

$0 · 1K shares

$0 · 4K shares

$0 · 2K shares

$0 · 10K shares

$0 · 14K shares

$0 · 3K shares

$0 · 7K shares

$0 · 9K shares

$0 · 15K shares

$0 · 13K shares

$0 · 16K shares

$0 · 2K shares

$0 · 9K shares

$0 · 56K shares

$0 · 3K shares

$0 · 7K shares

$0 · 14K shares

$0 · 8K shares

$0 · 6K shares

$0 · 600 shares

$0 · 7K shares

$0 · 7K shares

$0 · 18K shares

EXR

$0 · 2K shares

JANX

$0 · 20K shares

SWK

$0 · 4K shares

$0 · 15K shares

$0 · 1K shares

$0 · 3K shares

$0 · 2K shares

$0 · 15K shares

$0 · 1K shares

$0 · 12K shares

$0 · 8K shares

$0 · 14K shares

$0 · 10K shares

$0 · 11K shares

$0 · 17K shares

$0 · 16K shares

$0 · 665 shares

$0 · 10K shares

$0 · 4K shares

$0 · 57K shares

$0 · 4K shares

$0 · 3K shares

$0 · 1K shares

$0 · 13K shares

$0 · 10K shares

$0 · 5K shares

$0 · 6K shares

$0 · 3K shares

$0 · 4K shares

$0 · 5K shares

$0 · 2K shares

$0 · 21K shares

$0 · 11K shares

$0 · 11K shares

$0 · 13K shares

$0 · 1K shares

$0 · 4K shares

$0 · 7K shares

$0 · 9K shares

$0 · 8K shares

$0 · 2K shares

$0 · 5K shares

$0 · 3K shares

$0 · 11K shares

$0 · 14K shares

$0 · 10K shares

$0 · 3K shares

$0 · 3K shares

$0 · 10K shares

$0 · 39K shares

$0 · 3K shares

SFBS

$0 · 3K shares

FW2N

$0 · 5K shares

ENPH

$0 · 9K shares

$0 · 5K shares

$0 · 1K shares

$0 · 3K shares

$0 · 5K shares

$0 · 25K shares

$0 · 10K shares

$0 · 829 shares

$0 · 5K shares

$0 · 6K shares

$0 · 20K shares

$0 · 11K shares

$0 · 3K shares

$0 · 1K shares

$0 · 11K shares

$0 · 20K shares

$0 · 16K shares

$0 · 4K shares

$0 · 45K shares

$0 · 8K shares

$0 · 2K shares

$0 · 2K shares

$0 · 10K shares

$0 · 3K shares

SFNC

$0 · 14K shares

AEO

$0 · 16K shares

CLF

$0 · 15K shares

$0 · 17K shares

$0 · 50K shares

$0 · 44K shares

$0 · 18K shares

$0 · 7K shares

$0 · 14K shares

$0 · 8K shares

$0 · 21K shares

$0 · 6K shares

$0 · 13K shares

$0 · 5K shares

$0 · 5K shares

$0 · 15K shares

$0 · 2K shares

$0 · 7K shares

$0 · 9K shares

$0 · 9K shares

$0 · 15K shares

Closed Positions (517)

VOO

$376.0M · 614K shares

XME

$196.8M · 2.1M shares

DXCM 0.25 11/15/25

$80.9M · 81.5M shares

CORZ

$79.6M · 4.4M shares

FOUR 0 12/15/25

$58.0M · 56.3M shares

FLS

$54.9M · 1.0M shares

07WA

$44.7M · 212K shares

IMAX 0.5 04/01/26

$40.7M · 34.6M shares

$40.0M · 375K shares

$36.3M · 1.2M shares

$26.8M · 984K shares

$26.1M · 73K shares

$25.9M · 339K shares

$24.2M · 295K shares

$24.0M · 120K shares

$19.5M · 315K shares

$17.8M · 462K shares

$17.1M · 250K shares

$16.8M · 112K shares

$16.2M · 5.5M shares

$14.3M · 152K shares

$13.7M · 675K shares

$12.4M · 11.0M shares

$11.3M · 38K shares

$11.2M · 267K shares

$11.2M · 354K shares

$10.0M · 363K shares

$9.7M · 107K shares

$9.5M · 127K shares

$8.9M · 270K shares

$8.8M · 35K shares

$8.4M · 1.0M shares

$8.2M · 160K shares

$7.0M · 31K shares

$6.5M · 96K shares

$6.5M · 28K shares

$6.3M · 500K shares

$6.0M · 169K shares

$5.7M · 100K shares

$5.3M · 308K shares

$5.0M · 31K shares

$4.8M · 72K shares

$4.7M · 16K shares

$4.7M · 75K shares

$4.7M · 3.5M shares

$4.4M · 5.0M shares

$4.3M · 5.0M shares

$4.2M · 55K shares

$4.2M · 30K shares

$4.1M · 216K shares

$4.1M · 20K shares

$3.7M · 315K shares

$3.7M · 37K shares

$3.6M · 40K shares

$3.5M · 3.5M shares

$3.1M · 29K shares

$2.7M · 2.8M shares

$2.6M · 2K shares

$2.6M · 193K shares

$2.6M · 44K shares

$2.6M · 40K shares

$2.5M · 1.5M shares

$2.5M · 35K shares

$2.4M · 27K shares

$2.4M · 29K shares

$2.3M · 12K shares

$2.3M · 57K shares

$2.2M · 3.0M shares

$2.2M · 22K shares

$2.1M · 55K shares

$2.1M · 33K shares

$2.1M · 437K shares

$2.0M · 15K shares

$2.0M · 82K shares

$2.0M · 2.0M shares

$2.0M · 10K shares

$1.9M · 17K shares

$1.9M · 28K shares

$1.9M · 2K shares

$1.8M · 4K shares

$1.8M · 33K shares

$1.8M · 76K shares

$1.8M · 6K shares

$1.7M · 35K shares

$1.7M · 190K shares

$1.7M · 64K shares

$1.7M · 35K shares

$1.7M · 6K shares

$1.6M · 134K shares

$1.6M · 42K shares

$1.6M · 142K shares

$1.6M · 25K shares

$1.6M · 11K shares

$1.6M · 41K shares

$1.5M · 14K shares

$1.5M · 102K shares

$1.5M · 7K shares

$1.5M · 21K shares

$1.5M · 21K shares

$1.5M · 12K shares

$1.5M · 17K shares

$1.4M · 3K shares

$1.4M · 6K shares

$1.4M · 11K shares

$1.4M · 24K shares

$1.3M · 16K shares

$1.3M · 13K shares

$1.3M · 5K shares

$1.3M · 38K shares

$1.3M · 132K shares

$1.2M · 10K shares

$1.2M · 6K shares

$1.2M · 9K shares

$1.2M · 12K shares

$1.2M · 7K shares

$1.2M · 21K shares

$1.1M · 36K shares

$1.1M · 138K shares

$1.1M · 262 shares

$1.1M · 39K shares

$1.1M · 6K shares

$1.1M · 23K shares

$1.1M · 34K shares

$1.1M · 78K shares

$1.1M · 55K shares

$1.1M · 14K shares

$1.1M · 6K shares

$1.1M · 26K shares

$1.1M · 6K shares

$1.0M · 34K shares

$1.0M · 78K shares

$1.0M · 23K shares

$978K · 35K shares

$975K · 34K shares

$971K · 83K shares

$971K · 3K shares

$967K · 4K shares

$947K · 5K shares

$944K · 19K shares

$944K · 15K shares

RNR

$906K · 4K shares

$898K · 81K shares

$893K · 8K shares

$890K · 32K shares

$875K · 25K shares

$875K · 2K shares

$874K · 12K shares

$871K · 11K shares

$863K · 10K shares

$861K · 24K shares

$835K · 1K shares

$834K · 4K shares

$832K · 29K shares

$830K · 14K shares

$824K · 10K shares

$812K · 5K shares

$808K · 53K shares

$801K · 9K shares

$796K · 7K shares

$790K · 81K shares

$782K · 38K shares

$770K · 2K shares

$769K · 7K shares

$767K · 6K shares

$766K · 2K shares

$759K · 9K shares

$758K · 22K shares

$744K · 11K shares

$744K · 8K shares

$739K · 2K shares

$733K · 10K shares

$729K · 72K shares

$728K · 17K shares

$710K · 22K shares

$708K · 7K shares

$696K · 37K shares

$695K · 34K shares

$694K · 4K shares

$693K · 4K shares

$691K · 11K shares

$684K · 12K shares

$680K · 10K shares

$680K · 7K shares

$672K · 3K shares

$671K · 73K shares

$670K · 4K shares

$670K · 20K shares

$665K · 12K shares

$660K · 8K shares

$659K · 5K shares

$659K · 14K shares

$658K · 54K shares

$646K · 17K shares

$643K · 11K shares

$639K · 75K shares

$639K · 48K shares

$638K · 116K shares

$637K · 23K shares

$636K · 34K shares

$635K · 11K shares

$633K · 26K shares

$630K · 5K shares

$625K · 17K shares

$623K · 31K shares

$623K · 7K shares

$623K · 4K shares

$621K · 23K shares

$619K · 1K shares

$616K · 6K shares

$615K · 368 shares

$607K · 5K shares

$603K · 17K shares

$599K · 23K shares

$597K · 16K shares

$593K · 10K shares

$591K · 2K shares

$590K · 4K shares

$581K · 5K shares

$578K · 30K shares

$578K · 6K shares

$574K · 10K shares

$573K · 45K shares

$572K · 10K shares

$571K · 2K shares

$570K · 10K shares

$567K · 1K shares

$565K · 18K shares

$561K · 1K shares

$560K · 3K shares

$552K · 1K shares

$552K · 4K shares

$549K · 16K shares

$547K · 4K shares

$544K · 2K shares

$543K · 2K shares

$538K · 6K shares

$537K · 10K shares

$535K · 15K shares

$534K · 5K shares

$533K · 19K shares

$530K · 10K shares

$529K · 1K shares

$528K · 7K shares

$527K · 2K shares

$527K · 53K shares

$527K · 28K shares

ADT

$515K · 59K shares

$514K · 7K shares

$511K · 10K shares

$510K · 8K shares

$506K · 3K shares

$505K · 14K shares

$503K · 28K shares

$503K · 1K shares

$501K · 3K shares

$501K · 29K shares

$500K · 6K shares

$495K · 4K shares

$494K · 19K shares

$492K · 2K shares

$487K · 24K shares

$485K · 13K shares

$484K · 21K shares

$483K · 8K shares

$477K · 59K shares

$476K · 5K shares

$474K · 1K shares

$474K · 7K shares

$474K · 3K shares

$473K · 3K shares

$471K · 2K shares

$471K · 10K shares

$470K · 13K shares

$469K · 5K shares

$468K · 4K shares

$468K · 2K shares

$467K · 11K shares

$466K · 9K shares

$465K · 26K shares

$465K · 3K shares

$464K · 14K shares

$461K · 5K shares

$460K · 7K shares

$457K · 14K shares

$457K · 5K shares

$455K · 10K shares

$455K · 14K shares

$454K · 30K shares

$452K · 13K shares

$450K · 15K shares

$449K · 25K shares

$448K · 8K shares

$445K · 16K shares

$444K · 2K shares

$442K · 44K shares

$441K · 15K shares

$441K · 3K shares

$440K · 2K shares

$439K · 72K shares

$439K · 12K shares

$439K · 36K shares

$438K · 41K shares

$438K · 15K shares

$436K · 19K shares

$435K · 2K shares

$430K · 34K shares

$429K · 15K shares

$429K · 3K shares

$427K · 4K shares

$427K · 4K shares

$427K · 3K shares

$426K · 4K shares

$424K · 9K shares

$423K · 12K shares

$421K · 29K shares

$414K · 4K shares

$413K · 38K shares

$412K · 21K shares

$412K · 2K shares

$412K · 10K shares

$411K · 7K shares

$410K · 4K shares

$410K · 650 shares

$408K · 2K shares

$407K · 36K shares

$406K · 3K shares

$405K · 4K shares

$404K · 1K shares

$403K · 28K shares

$402K · 7K shares

$401K · 2K shares

$397K · 16K shares

$397K · 76K shares

$395K · 2K shares

$387K · 5K shares

$384K · 7K shares

$383K · 26K shares

$381K · 2K shares

$381K · 12K shares

$381K · 60K shares

$380K · 17K shares

$380K · 10K shares

$377K · 8K shares

$377K · 9K shares

$377K · 4K shares

$369K · 41K shares

$366K · 9K shares

$363K · 7K shares

$363K · 33K shares

$360K · 4K shares

$359K · 24K shares

$356K · 1K shares

$355K · 2K shares

$355K · 7K shares

$355K · 19K shares

$353K · 3K shares

$351K · 10K shares

$348K · 12K shares

$348K · 30K shares

$348K · 3K shares

$346K · 5K shares

$344K · 10K shares

$343K · 3K shares

$343K · 3K shares

$338K · 19K shares

$337K · 5K shares

$337K · 71K shares

$336K · 2K shares

$334K · 4K shares

$333K · 42K shares

$333K · 10K shares

$330K · 28K shares

$328K · 5K shares

$327K · 11K shares

$325K · 26K shares

$323K · 9K shares

$321K · 13K shares

$321K · 1K shares

$312K · 35K shares

$311K · 2K shares

$310K · 4K shares

$310K · 44K shares

$310K · 17K shares

$307K · 25K shares

$304K · 30K shares

$303K · 19K shares

$300K · 1K shares

$294K · 3K shares

$294K · 16K shares

$293K · 6K shares

$292K · 13K shares

$292K · 6K shares

$290K · 3K shares

$289K · 20K shares

$285K · 2K shares

$285K · 10K shares

$283K · 3K shares

$282K · 2K shares

$279K · 7K shares

$278K · 7K shares

$277K · 420 shares

$276K · 3K shares

$275K · 11K shares

$272K · 33K shares

$270K · 83K shares

$270K · 8K shares

$269K · 21K shares

$264K · 499 shares

$261K · 2K shares

$261K · 21K shares

$258K · 6K shares

$258K · 4K shares

$256K · 2K shares

$253K · 4K shares

$252K · 4K shares

$250K · 6K shares

$249K · 6K shares

$248K · 3K shares

$248K · 14K shares

$248K · 4K shares

$247K · 2K shares

$246K · 12K shares

$245K · 3K shares

$245K · 16K shares

$242K · 2K shares

$241K · 1K shares

$241K · 15K shares

$241K · 3K shares

$239K · 4K shares

$238K · 7K shares

$238K · 3K shares

$237K · 6K shares

$237K · 7K shares

$235K · 3K shares

$232K · 27K shares

$231K · 2K shares

$230K · 15K shares

$230K · 4K shares

$229K · 5K shares

$229K · 1K shares

$228K · 13K shares

$227K · 21K shares

$224K · 2K shares

$224K · 9K shares

$223K · 2K shares

$222K · 2K shares

$222K · 7K shares

$220K · 640 shares

$219K · 8K shares

$218K · 79K shares

$217K · 23K shares

$216K · 1K shares

$214K · 980 shares

$214K · 600 shares

$213K · 9K shares

$213K · 16K shares

$212K · 5K shares

$212K · 3K shares

$211K · 2K shares

$211K · 14K shares

$209K · 4K shares

$207K · 2K shares

$206K · 7K shares

$206K · 363 shares

$204K · 3K shares

$204K · 17K shares

$203K · 10K shares

$201K · 1K shares

$201K · 4K shares

$200K · 4K shares

$200K · 4K shares

$200K · 1K shares

$200K · 13K shares

$200K · 58K shares

$200K · 41K shares

$199K · 23K shares

$198K · 15K shares

$194K · 25K shares

$190K · 13K shares

$189K · 13K shares

$187K · 25K shares

$186K · 34K shares

$183K · 24K shares

$181K · 14K shares

$177K · 16K shares

$176K · 13K shares

$168K · 17K shares

$160K · 23K shares

$159K · 55K shares

$155K · 21K shares

$145K · 11K shares

$139K · 17K shares

$139K · 18K shares

$139K · 11K shares

$134K · 13K shares

$131K · 13K shares

$130K · 36K shares

$128K · 11K shares

$124K · 12K shares

$124K · 12K shares

$116K · 14K shares

$112K · 11K shares

$96K · 13K shares

$93K · 16K shares

$91K · 13K shares

$91K · 34K shares

$76K · 10K shares

$58K · 11K shares

$58K · 15K shares

$55K · 25K shares

$53K · 39K shares

$48K · 36K shares

$47K · 14K shares

$42K · 26K shares

$20K · 11K shares

$362 · 19K shares

Sector Breakdown

Sector	# Holdings	Value	%
Financial Services	157	$21.7B	43.0%
Technology	156	$10.6B	21.1%
Unknown	134	$7.3B	14.6%
Communication Services	34	$4.8B	9.5%
Consumer Cyclical	102	$3.7B	7.4%
Healthcare	80	$697.0M	1.4%
Industrials	104	$692.0M	1.4%
Consumer Defensive	41	$500.0M	1.0%
Energy	35	$139.0M	0.3%
Basic Materials	44	$95.0M	0.2%
Utilities	32	$91.0M	0.2%
Real Estate	20	$48.0M	0.1%