Q2 2026 13F · SEC CIK 1599217

Capstone Financial Advisors, Inc.

Wealth managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.1B
Reported positions: 191
Top holdings a year, 3 yrs: +14.7%
Assets under management: $2.9B

Capstone Financial Advisors, Inc. is a wealth manager that reported 191 positions worth $2.1B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Vanguard Index Fds (VTI, 17.8%), Ishares Tr (IWB, 12.7%), Dimensional ETF Trust (DFAC, 12.0%). A portfolio copying its top holdings returned 14.7% a year over the last 3 years, against 20.4% for the S&P 500.

Capstone Financial Advisors, Inc. holdings largest 50 of 191 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Capstone Financial Advisors, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
VTIVanguard Index Fds	17.8%	16.8%	988,799	+2.0%	$365.9M
IWBIshares Tr	12.7%	12.4%	637,495	-1.4%	$261.1M
DFACDimensional ETF Trust	12.0%	11.6%	5,543,948	-0.1%	$245.9M
NFRAFlexshares Tr	7.3%	7.9%	2,350,358	+2.0%	$150.7M
BNDVanguard Bd Index Fds	6.6%	7.0%	1,832,708	+3.4%	$134.5M
VXUSVanguard Star Fds	4.8%	4.8%	1,153,621	+0.3%	$98.6M
IXUSIshares Tr	4.2%	4.2%	911,328	+0.6%	$87.0M
DFAXDimensional ETF Trust	3.7%	3.8%	2,043,404	-1.1%	$75.3M
IWFIshares Tr	2.8%	2.6%	457,245	+299.1%	$56.8M
BNDXVanguard Charlotte Fds	2.7%	2.8%	1,124,674	+3.0%	$54.5M
MCDMcdonalds Corp	2.5%	3.3%	193,183	-0.6%	$52.2M
TLTDNorthern Trust MS DM Ex-US Factor Tilt E	2.2%	2.3%	457,172	-0.2%	$44.8M
TILTFlexshares Tr	2.1%	2.1%	158,287	-3.2%	$43.7M
AAPLApple Inc	2.0%	1.9%	138,711	-2.3%	$40.1M
ITOTIshares Tr	1.8%	1.7%	221,301	+1.4%	$36.4M
REETIshares Tr	1.1%	1.2%	851,372	+0.1%	$23.5M
JPMJpmorgan Chase & Co	1.0%	1.0%	63,735	-3.5%	$20.9M
NVDANvidia Corporation	1.0%	1.0%	102,613	+0.6%	$20.5M
AVREAvantis Real Estate ETF	0.7%	0.8%	311,435	-1.6%	$14.8M
MDYState Str Spdr S&p Midcap 40	0.5%	0.5%	14,956	-1.5%	$10.5M
IWMIshares Tr	0.5%	0.5%	34,638	-1.2%	$10.4M
VIGVanguard Specialized Funds	0.4%	0.5%	38,484	-2.0%	$9.1M
AMZNAmazon Com Inc	0.4%	0.4%	37,326	-4.1%	$8.9M
AGGIshares Tr	0.4%	0.5%	87,126	+1.6%	$8.6M
VONEVanguard Scottsdale Fds	0.4%	0.4%	22,634	-0.2%	$7.7M
IGFiShares Global Infrastructure	0.4%	0.4%	112,150	+0.5%	$7.5M
VTEBVanguard Mun Bd Fds	0.3%	0.4%	129,470	-22.0%	$6.5M
IAGGIshares Tr	0.3%	0.3%	126,254	+1.2%	$6.4M
MSFTMicrosoft Corp	0.3%	0.3%	16,590	+2.4%	$6.2M
VTWOVanguard Scottsdale Fds	0.3%	0.3%	48,931	-0.5%	$5.9M
BRK-ABerkshire Hathaway Inc Del	0.3%	0.3%	7	+0.0%	$5.2M
CMECme Group Inc	0.2%	0.3%	18,134	+0.1%	$4.0M
MUMicron Technology Inc	0.2%	—	3,287	—	$3.8M
COSTCostco Wholesale Corporation	0.2%	0.2%	4,029	+0.4%	$3.8M
DFAUDimensional ETF Trust	0.2%	0.1%	67,306	+14.2%	$3.5M
GOOGLAlphabet Inc	0.2%	0.1%	9,595	+0.2%	$3.4M
QCOMQualcomm Inc	0.2%	0.1%	17,039	+0.0%	$3.1M
RWOSpdr Index Shs Fds	0.2%	0.2%	63,134	-4.6%	$3.1M
SPYState Str Spdr S&p 500 ETF T	0.1%	0.1%	4,079	-1.1%	$3.0M
SBUXStarbucks Corp	0.1%	—	29,174	—	$3.0M
CATCaterpillar Inc	0.1%	0.1%	2,693	+1.1%	$2.9M
CBOECboe Global Mkts Inc	0.1%	0.2%	11,425	+2.9%	$2.8M
DFAIDimensional ETF Trust	0.1%	0.1%	63,544	-4.0%	$2.6M
TYTri Contl Corp Com	0.1%	0.1%	75,513	+0.0%	$2.6M
QQQInvesco Qqq Tr	0.1%	0.1%	3,389	+1.0%	$2.5M
LRCXLam Research Corp	0.1%	—	5,710	—	$2.5M
ETNEaton Corp PLC	0.1%	0.1%	5,470	+0.4%	$2.3M
AMDAdvanced Micro Devices Inc	0.1%	—	3,764	—	$2.2M
AMATApplied Matls Inc	0.1%	—	2,804	—	$2.0M
WMTWalmart Inc	0.1%	0.1%	17,435	+1.1%	$2.0M

What Capstone Financial Advisors, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

IWF Ishares Tr+299.1% shares
DFAU Dimensional ETF Trust+14.2% shares

Reduced

VTEB Vanguard Mun Bd Fds-22.0% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.8% /yr; S&P 500 +20.1%
3 years: +14.7% /yr; S&P 500 +20.4%
5 years: +7.0% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.1B	191
Q1 2026	$1.9B	185
Q4 2025	$1.9B	184
Q3 2025	$1.8B	182
Q2 2025	$1.7B	175
Q1 2025	$1.6B	156
Q4 2024	$1.6B	155
Q3 2024	$1.6B	157
Q2 2024	$1.5B	157
Q1 2024	$1.5B	150
Q4 2023	$1.4B	151
Q3 2023	$1.3B	146

Questions about Capstone Financial Advisors, Inc.'s portfolio

What stocks does Capstone Financial Advisors, Inc. own?

Capstone Financial Advisors, Inc.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 191 positions worth $2.1B. The largest are Vanguard Index Fds (VTI) at 17.8%, Ishares Tr (IWB) at 12.7%, Dimensional ETF Trust (DFAC) at 12.0%, Flexshares Tr (NFRA) at 7.3% and Vanguard Bd Index Fds (BND) at 6.6%.

What did Capstone Financial Advisors, Inc. buy last quarter?

In Q2 2026, Capstone Financial Advisors, Inc. added Ishares Tr (IWF) (+299.1% shares) and Dimensional ETF Trust (DFAU) (+14.2% shares), compared with its Q1 2026 filing.

What did Capstone Financial Advisors, Inc. sell last quarter?

In Q2 2026, Capstone Financial Advisors, Inc. cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Vanguard Index Fds (VOO), cut from its top 50 Meta Platforms Inc (META), cut from its top 50 Ishares Tr (MUB), cut from its top 50 Strategy Inc (MSTR) and Vanguard Mun Bd Fds (VTEB) (-22.0% shares), compared with its Q1 2026 filing.

How has Capstone Financial Advisors, Inc.'s portfolio performed?

A portfolio copying Capstone Financial Advisors, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +14.7% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.8% against +20.1%. Over 5 years: +7.0% a year against +11.6%.

When is Capstone Financial Advisors, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Capstone Financial Advisors, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Capstone Financial Advisors, Inc. manage?

Capstone Financial Advisors, Inc. reported $2.9B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.1B.