CAPSTONE INVESTMENT ADVISORS, LLC Q4 2024 Filing

Filed February 14, 2025

Portfolio Value

$41.4B

Holdings

794

Report Date

Q4 2024

Filing Type

13F-HR

All Holdings (794 positions)

#	Stock	Shares	Value	% Portfolio	Type
101	W 1 08/15/26WAYFAIR INC	55,341,000	$51.4B	124.03%
102	SCHWSCHWAB CHARLES CORP	670,556	$49.6B	119.84%	Put
103	IONS 0 04/01/26IONIS PHARMACEUTICALS INC	50,950,000	$49.3B	118.94%
104	ECPG 3.25 10/01/25ENCORE CAP GROUP INC	36,489,000	$47.1B	113.79%
105	LRCXLAM RESEARCH CORP	650,232	$47.0B	113.41%	Put
106	UNPUNION PAC CORP	205,660	$46.9B	113.25%	Put
107	HLTHILTON WORLDWIDE HLDGS INC	185,931	$46.0B	110.97%	Put
108	LOWLOWES COS INC	185,627	$45.8B	110.63%	Put
109	BMYBRISTOL-MYERS SQUIBB CO	798,608	$45.2B	109.07%	Put
110	RTXRTX CORPORATION	376,700	$43.6B	105.26%	Put
111	ABNBAIRBNB INC	323,456	$42.5B	102.64%	Put
112	AKAM 0.375 09/01/27AKAMAI TECHNOLOGIES INC	42,110,000	$42.4B	102.33%
113	LVLNSPDR SER TR	693,739	$41.9B	101.10%	Put
114	PR 3.25 04/01/28PERMIAN RESOURCES CORP	16,607,000	$41.9B	101.08%
115	GILDGILEAD SCIENCES INC	447,392	$41.3B	99.79%	Put
116	4I1PHILIP MORRIS INTL INC	331,459	$39.9B	96.33%	Put
117	ABNB 0 03/15/26AIRBNB INC	42,000,000	$39.5B	95.39%
118	SLBSCHLUMBERGER LTD	1,020,405	$39.1B	94.47%	Put
119	CYTK 4 11/15/26CYTOKINETICS INC	8,631,000	$38.5B	92.85%
120	DXCM 0.25 11/15/25DEXCOM INC	39,533,000	$38.2B	92.24%
121	DHRDANAHER CORPORATION	164,196	$37.7B	91.02%	Put
122	PLTRPALANTIR TECHNOLOGIES INC	493,477	$37.3B	90.12%	Put
123	ANETARISTA NETWORKS INC	336,465	$37.2B	89.80%	Put
124	TJXTJX COS INC NEW	304,300	$36.8B	88.77%	Put
125	ADIANALOG DEVICES INC	165,835	$35.2B	85.08%	Put
126	WWAYFAIR INC	28,000,000	$35.0B	84.52%
127	NEENEXTERA ENERGY INC	487,993	$35.0B	84.48%	Put
128	SPGIS&P GLOBAL INC	69,754	$34.7B	83.89%	Put
129	DEDEERE & CO	81,815	$34.7B	83.71%	Put
130	BKNGBOOKING HOLDINGS INC	6,844	$34.0B	82.11%	Put
131	MDLZMONDELEZ INTL INC	549,615	$32.8B	79.27%	Put
132	PRGSPROGRESS SOFTWARE CORP	27,000,000	$32.5B	78.53%
133	LMTLOCKHEED MARTIN CORP	65,950	$32.0B	77.39%	Put
134	IEFISHARES TR	342,901	$31.7B	76.55%	Call
135	IBITISHARES BITCOIN TRUST ETF	597,141	$31.7B	76.50%	Put
136	FFORD MTR CO	3,191,909	$31.6B	76.31%	Put
137	FIVN 0.5 06/01/25FIVE9 INC	32,357,000	$31.4B	75.94%
138	ADPAUTOMATIC DATA PROCESSING IN	105,264	$30.8B	74.41%	Put
139	APPAPPLOVIN CORP	93,647	$30.3B	73.23%	Put
140	KLACKLA CORP	45,810	$28.9B	69.70%	Put
141	BXBLACKSTONE INC	164,900	$28.4B	68.66%	Put
142	IYRISHARES TR	300,001	$27.9B	67.42%	Put
143	MDTMEDTRONIC PLC	349,475	$27.9B	67.41%	Put
144	FDXFEDEX CORP	98,823	$27.8B	67.14%	Put
145	SNPSSYNOPSYS INC	57,071	$27.7B	66.89%	Put
146	FISVFISERV INC	130,778	$26.9B	64.87%	Put
147	CDNSCADENCE DESIGN SYSTEM INC	89,200	$26.8B	64.72%	Put
148	CVSCVS HEALTH CORP	593,883	$26.7B	64.38%	Put
149	FOUR 0 12/15/25SHIFT4 PMTS INC	19,422,000	$26.2B	63.22%
150	CRWDCROWDSTRIKE HLDGS INC	73,944	$25.3B	61.10%	Put
151	INSM 0.75 06/01/28INSMED INC	11,531,000	$25.0B	60.42%
152	ALTR 1.75 06/15/27ALTAIR ENGR INC	16,000,000	$24.9B	60.23%
153	VRTXVERTEX PHARMACEUTICALS INC	61,480	$24.8B	59.78%	Put
154	PGRPROGRESSIVE CORP	103,215	$24.7B	59.72%	Put
155	OXYOCCIDENTAL PETE CORP	496,260	$24.5B	59.21%	Put
156	MPCMARATHON PETE CORP	170,106	$23.7B	57.30%	Put
157	ADSKAUTODESK INC	78,683	$23.3B	56.16%	Put
158	NXPINXP SEMICONDUCTORS N V	110,820	$23.0B	55.62%	Put
159	BSXBOSTON SCIENTIFIC CORP	257,800	$23.0B	55.60%	Put
160	USBUS BANCORP DEL	476,316	$22.8B	55.01%	Put
161	RCLROYAL CARIBBEAN GROUP	98,700	$22.8B	54.98%	Put
162	ETNEATON CORP PLC	68,233	$22.6B	54.68%	Put
163	FCXFREEPORT-MCMORAN INC	592,246	$22.6B	54.46%	Put
164	CMECME GROUP INC	96,900	$22.5B	54.34%	Put
165	CEGCONSTELLATION ENERGY CORP	99,318	$22.2B	53.65%	Put
166	ELVELEVANCE HEALTH INC	58,586	$21.6B	52.19%	Put
167	XLKSELECT SECTOR SPDR TR	90,544	$21.1B	50.84%
168	GXOGXO LOGISTICS INCORPORATED	472,145	$20.5B	49.60%
169	MOALTRIA GROUP INC	392,405	$20.5B	49.55%	Put
170	SYKSTRYKER CORPORATION	56,868	$20.5B	49.44%	Put
171	AMTAMERICAN TOWER CORP NEW	110,024	$20.2B	48.73%	Put
172	VREX 4 06/01/25VAREX IMAGING CORP	20,000,000	$20.0B	48.33%
173	HCI 4.75 06/01/42HCI GROUP INC	12,600,000	$19.5B	47.07%
174	MARMARRIOTT INTL INC NEW	69,700	$19.4B	46.95%	Put
175	ONON SEMICONDUCTOR CORP	307,750	$19.4B	46.86%	Put
176	CBCHUBB LIMITED	70,217	$19.4B	46.85%	Put
177	VLOVALERO ENERGY CORP	157,463	$19.3B	46.61%	Put
178	ROSTROSS STORES INC	126,152	$19.1B	46.08%	Put
179	COFCAPITAL ONE FINL CORP	106,600	$19.0B	45.90%	Put
180	EYE 2.5 05/15/25NATIONAL VISION HLDGS INC	19,022,000	$18.7B	45.24%
181	DALDELTA AIR LINES INC DEL	307,500	$18.6B	44.92%	Put
182	ICEINTERCONTINENTAL EXCHANGE IN	124,800	$18.6B	44.91%	Put
183	EFAISHARES TR	245,001	$18.5B	44.73%	Put
184	MMM3M CO	142,455	$18.4B	44.41%	Put
185	DUKDUKE ENERGY CORP NEW	170,667	$18.4B	44.40%	Put
186	FTNTFORTINET INC	191,300	$18.1B	43.64%	Put
187	CITHE CIGNA GROUP	64,975	$17.9B	43.33%	Put
188	EXPEEXPEDIA GROUP INC	94,728	$17.7B	42.62%	Put
189	MMYT 0 02/15/28MAKEMYTRIP LIMITED MAURITIUS	6,000,000	$17.6B	42.48%
190	LYFTLYFT INC	17,500,000	$17.4B	41.92%
191	NOCNORTHROP GRUMMAN CORP	36,713	$17.2B	41.60%	Put
192	IMAX 0.5 04/01/26IMAX CORP	16,107,000	$17.2B	41.49%
193	VTR 3.75 06/01/26VENTAS RLTY LTD PARTNERSHIP	15,000,000	$17.1B	41.37%
194	GMED 0.375 03/15/25NUVASIVE INC	17,000,000	$16.9B	40.69%
195	EBAEBAY INC.	271,084	$16.8B	40.55%	Put
196	DC4DEXCOM INC	213,762	$16.6B	40.14%	Put
197	PLDPROLOGIS INC.	156,464	$16.5B	39.94%	Put
198	LULULULULEMON ATHLETICA INC	43,224	$16.5B	39.91%	Put
199	ODFLOLD DOMINION FREIGHT LINE IN	92,904	$16.4B	39.57%	Put
200	KRKROGER CO	264,730	$16.2B	39.09%	Put

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