CAPSTONE INVESTMENT ADVISORS, LLC Q1 2023 Filing

Filed May 9, 2023

Portfolio Value

$19.8B

Holdings

702

Report Date

Q1 2023

Filing Type

13F-HR

All Holdings (702 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NDQINVESCO QQQ TR	26,511,480	$8.5B	43.02%	Put
2	SPYSPDR S&P 500 ETF TR	1,900,773	$778.2M	3.93%	Put
3	AAPLAPPLE INC	3,031,700	$499.9M	2.53%	Put
4	AMZNAMAZON COM INC	4,117,380	$425.3M	2.15%	Put
5	MSFTMICROSOFT CORP	1,322,749	$381.3M	1.93%	Put
6	GQ9SPDR GOLD TR	1,706,061	$312.6M	1.58%	Put
7	HYGISHARES TR	4,000,000	$302.2M	1.53%	Put
8	METAMETA PLATFORMS INC	1,050,100	$222.6M	1.13%	Put
9	XLKSELECT SECTOR SPDR TR	1,271,100	$191.9M	0.97%	Put
10	TSLATESLA INC	864,330	$179.3M	0.91%	Put
11	EEMISHARES TR	4,198,172	$165.7M	0.84%	Put
12	NVDANVIDIA CORPORATION	546,500	$151.8M	0.77%	Put
13	GOOGALPHABET INC	1,256,260	$130.7M	0.66%	Put
14	GOOGLALPHABET INC	1,178,462	$122.2M	0.62%	Put
15	UNHUNITEDHEALTH GROUP INC	257,482	$121.7M	0.62%	Put
16	IWMISHARES TR	660,172	$117.8M	0.60%	Put
17	FXIISHARES TR	3,965,549	$117.1M	0.59%	Put
18	EFAISHARES TR	1,332,588	$95.3M	0.48%	Put
19	NSIT 0.75 02/15/25INSIGHT ENTERPRISES INC	45,320,000	$95.1M	0.48%
20	XLVSELECT SECTOR SPDR TR	697,400	$90.3M	0.46%	Put
21	CSCOCISCO SYS INC	1,636,800	$85.6M	0.43%	Put
22	CRMSALESFORCE INC	416,723	$83.3M	0.42%	Put
23	TKO 3.375 12/15/23WORLD WRESTLING ENTMT INC	21,874,000	$79.8M	0.40%
24	LQDISHARES TR	700,000	$76.7M	0.39%	Put
25	PANW 0.375 06/01/25PALO ALTO NETWORKS INC	37,850,000	$76.5M	0.39%
26	KBR 2.5 11/01/23KBR INC	34,478,000	$75.0M	0.38%
27	TXNTEXAS INSTRS INC	401,200	$74.6M	0.38%	Put
28	FCN 2 08/15/23FTI CONSULTING INC	37,500,000	$73.2M	0.37%
29	HDHOME DEPOT INC	237,095	$70.0M	0.35%	Put
30	XLFSELECT SECTOR SPDR TR	2,164,293	$69.6M	0.35%	Put
31	XLYSELECT SECTOR SPDR TR	461,800	$69.1M	0.35%	Put
32	NVMI 0 10/15/25NOVA LTD	46,544,000	$67.7M	0.34%
33	JPMJPMORGAN CHASE & CO	511,300	$66.6M	0.34%	Put
34	ABBVABBVIE INC	395,000	$63.0M	0.32%	Put
35	BACBANK AMERICA CORP	2,191,959	$62.7M	0.32%	Put
36	MDB 0.25 01/15/26MONGODB INC	48,300,000	$62.6M	0.32%
37	LITE 0.25 03/15/24LUMENTUM HLDGS INC	59,510,000	$62.5M	0.32%
38	DISDISNEY WALT CO	616,721	$61.8M	0.31%	Put
39	COSTCOSTCO WHSL CORP NEW	123,314	$61.3M	0.31%	Put
40	BRK/BBERKSHIRE HATHAWAY INC DEL	193,905	$59.9M	0.30%	Put
41	XLISELECT SECTOR SPDR TR	570,500	$57.7M	0.29%	Put
42	DXCM 0.75 12/01/23DEXCOM INC	20,000,000	$56.6M	0.29%
43	GSGOLDMAN SACHS GROUP INC	172,565	$56.4M	0.29%	Put
44	CATCATERPILLAR INC	237,151	$54.3M	0.27%	Put
45	ORCLORACLE CORP	580,200	$53.9M	0.27%	Put
46	XLFISELECT SECTOR SPDR TR	715,300	$53.4M	0.27%	Put
47	XLCSELECT SECTOR SPDR TR	867,900	$50.3M	0.25%	Put
48	ATVIEURACTIVISION BLIZZARD INC	587,600	$50.3M	0.25%	Put
49	NFLXNETFLIX INC	144,739	$50.0M	0.25%	Put
50	VVISA INC	221,100	$49.8M	0.25%	Put
51	DHRDANAHER CORPORATION	192,301	$48.5M	0.25%	Put
52	CVXCHEVRON CORP NEW	295,301	$48.2M	0.24%	Put
53	MAMASTERCARD INCORPORATED	125,319	$45.5M	0.23%	Put
54	—COPA HOLDINGS SA	24,400,000	$45.2M	0.23%
55	ECPG 3.25 10/01/25ENCORE CAP GROUP INC	33,424,000	$45.2M	0.23%
56	PANW 0.75 07/01/23PALO ALTO NETWORKS INC	20,000,000	$44.9M	0.23%
57	TMOTHERMO FISHER SCIENTIFIC INC	77,097	$44.4M	0.22%	Put
58	AVGOBROADCOM INC	68,798	$44.1M	0.22%	Put
59	XLESELECT SECTOR SPDR TR	529,383	$43.8M	0.22%	Put
60	LTHM 4.125 07/15/25LIVENT CORP	16,973,000	$43.4M	0.22%
61	JNJJOHNSON & JOHNSON	277,241	$43.0M	0.22%	Put
62	PFEPFIZER INC	1,046,396	$42.7M	0.22%	Put
63	WMTWALMART INC	286,000	$42.2M	0.21%	Put
64	INSM 0.75 06/01/28INSMED INC	50,981,000	$39.6M	0.20%
65	GMED 1 06/01/23NUVASIVE INC	38,750,000	$38.5M	0.19%
66	PEPPEPSICO INC	197,243	$36.0M	0.18%	Put
67	PSTG 0.125 04/15/23PURE STORAGE INC	34,500,000	$34.5M	0.17%
68	CVSCVS HEALTH CORP	448,929	$33.4M	0.17%	Put
69	EYE 2.5 05/15/25NATIONAL VISION HLDGS INC	34,235,000	$32.9M	0.17%
70	—IRONWOOD PHARMACEUTICALS INC	32,200,000	$32.6M	0.16%
71	Z 0.75 09/01/24ZILLOW GROUP INC	27,646,000	$32.4M	0.16%
72	LLYLILLY ELI & CO	90,039	$30.9M	0.16%	Put
73	X 5 11/01/26UNITED STATES STL CORP	15,000,000	$30.6M	0.15%
74	HZNPHORIZON THERAPEUTICS PUB L	280,000	$30.6M	0.15%
75	TVTX 2.25 03/01/29TRAVERE THERAPEUTICS INC	30,893,000	$30.4M	0.15%
76	ADIANALOG DEVICES INC	153,100	$30.2M	0.15%	Put
77	AKAM 0.125 05/01/25AKAMAI TECHNOLOGIES INC	29,514,000	$29.8M	0.15%
78	VMWEURVMWARE INC	235,200	$29.4M	0.15%	Put
79	BACVERIZON COMMUNICATIONS INC	753,137	$29.3M	0.15%	Put
80	PGPROCTER AND GAMBLE CO	196,089	$29.2M	0.15%	Put
81	ZS 0.125 07/01/25ZSCALER INC	27,200,000	$28.8M	0.15%
82	INTCINTEL CORP	873,692	$28.5M	0.14%	Put
83	XOMEXXON MOBIL CORP	254,881	$27.9M	0.14%	Put
84	UPSUNITED PARCEL SERVICE INC	143,038	$27.7M	0.14%	Put
85	—NEW RELIC INC	27,722,000	$27.6M	0.14%
86	AEPAMERICAN ELEC PWR CO INC	301,815	$27.5M	0.14%	Put
87	CYTK 4 11/15/26CYTOKINETICS INC	8,020,000	$27.3M	0.14%
88	QCOMQUALCOMM INC	213,921	$27.3M	0.14%	Put
89	IART 0.5 08/15/25INTEGRA LIFESCIENCES HLDGS C	27,000,000	$26.4M	0.13%
90	LVLNSPDR SER TR	599,820	$26.3M	0.13%
91	PODD 0.375 09/01/26INSULET CORP	17,335,000	$26.0M	0.13%
92	IWNISHARES TR	187,818	$25.7M	0.13%
93	DWDMORGAN STANLEY	288,722	$25.3M	0.13%	Put
94	SBUXSTARBUCKS CORP	242,935	$25.3M	0.13%	Put
95	PEOEXELON CORP	600,258	$25.1M	0.13%	Put
96	DDOG 0.125 06/15/25DATADOG INC	23,000,000	$24.9M	0.13%
97	PRGSPROGRESS SOFTWARE CORP	22,000,000	$24.0M	0.12%
98	KOCOCA COLA CO	386,000	$23.9M	0.12%	Put
99	ASHRDBX ETF TR	800,000	$23.6M	0.12%	Call
100	VTVVANGUARD INDEX FDS	170,640	$23.6M	0.12%

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