Q2 2026 13F · SEC CIK 1426196

Capstone Investment Advisors, LLC

Hedge fundFiled 2026-08-17 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $10.9B
Reported positions: 858
Top holdings a year, 3 yrs: +30.1%
Assets under management: $91.5B

Capstone Investment Advisors, LLC is a hedge fund that reported 858 positions worth $10.9B in its Q2 2026 13F, filed 2026-08-17. Its largest holdings were Microsoft Corp (MSFT, 14.7%), Nvidia Corporation (NVDA, 12.6%), Ishares Tr (IVV, 10.7%). A portfolio copying its top holdings returned 30.1% a year over the last 3 years, against 22.3% for the S&P 500.

Capstone Investment Advisors, LLC holdings largest 50 of 858 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 Investment Advisors, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
MSFTMicrosoft Corp	14.7%	11.4%	4,303,251	+55.1%	$1.6B
NVDANvidia Corporation	12.6%	7.8%	6,869,767	+71.1%	$1.4B
IVVIshares Tr	10.7%	11.3%	1,562,108	+0.3%	$1.2B
AMZNAmazon Com Inc	6.7%	13.4%	3,089,477	-46.4%	$736.3M
VOOVanguard Index Fds	5.4%	5.7%	857,924	+0.3%	$589.2M
TSLATesla Inc	5.1%	6.0%	1,322,989	-9.0%	$556.4M
METAMeta Platforms Inc	3.1%	2.2%	594,871	+75.4%	$335.1M
QQQInvesco Qqq Tr	2.9%	0.2%	426,945	+1255.9%	$314.4M
AAPLApple Inc	2.5%	2.8%	934,697	-5.2%	$270.5M
MUMicron Technology Inc	2.4%	0.2%	230,359	+331.4%	$265.9M
NOKNokia Corp	1.8%	—	14,595,379	—	$193.8M
ORCLOracle Corp	1.6%	1.4%	1,217,291	+37.7%	$178.4M
AVGOBroadcom Inc	1.6%	1.3%	448,295	+18.6%	$169.3M
SPCXSpace Exploration Techn Corp	1.3%	—	812,500	—	$138.8M
MSTRStrategy Inc	1.0%	—	1,298,361	—	$112.9M
PLTRPalantir Technologies Inc	1.0%	0.5%	925,130	+188.4%	$107.9M
BRK-BBerkshire Hathaway Inc Del	0.9%	—	197,358	—	$98.8M
GOOGAlphabet Inc	0.9%	2.7%	271,923	-67.6%	$96.1M
WBDWarner Bros Discovery Inc	0.8%	3.1%	3,405,000	-66.6%	$90.8M
GTLSChart Inds Inc	0.7%	0.4%	370,000	+127.0%	$77.3M
SPYState Str Spdr S&p 500 ETF T	0.7%	4.3%	101,328	-82.9%	$75.7M
BABAAlibaba Group Hldg Ltd	0.7%	—	773,268	—	$74.2M
WBSWebster Finl Corp	0.7%	0.7%	935,000	+10.1%	$71.5M
FXIIshares Tr	0.6%	0.4%	2,201,127	+110.3%	$69.5M
KVUEKenvue Inc	0.6%	0.5%	3,599,857	+35.1%	$68.8M
XLESelect Sector Spdr Tr	0.6%	0.8%	1,164,746	+0.1%	$61.9M
TSMTaiwan Semiconductor Manufac	0.5%	0.2%	110,383	+131.7%	$52.7M
ETSYEtsy Inc	0.4%	—	640,706	—	$48.3M
CBRSCerebras Systems Inc	0.4%	—	202,100	—	$44.7M
ROKURoku Inc	0.4%	—	320,000	—	$44.2M
SNDKSandisk Corp	0.4%	—	19,435	—	$44.2M
EEMIshares Tr	0.4%	0.5%	605,065	-17.0%	$41.4M
ADBEAdobe Inc	0.4%	0.2%	195,190	+130.4%	$40.0M
NFLXNetflix Inc.	0.3%	—	529,559	—	$37.8M
AMDAdvanced Micro Devices Inc	0.3%	1.6%	60,963	-91.5%	$35.4M
HYGIshares Tr	0.3%	—	372,550	—	$29.8M
SJNKState Street SPDR Bloomberg Short Term H	0.3%	—	1,110,001	—	$27.8M
JNKSpdr Series Trust	0.2%	—	277,601	—	$26.8M
EWZIshares Inc	0.2%	—	748,291	—	$25.8M
SHYGIshares Tr	0.2%	—	598,401	—	$25.4M
GSATGlobalstar Inc	0.2%	—	300,000	—	$24.4M
UBERUber Technologies Inc	0.2%	0.2%	316,531	+2.1%	$22.8M
GXOGxo Logistics Incorporated	0.2%	0.6%	447,959	-53.6%	$22.7M
LULULululemon Athletica Inc	0.2%	0.2%	188,947	+30.9%	$21.6M
IWMIshares Tr	0.2%	—	68,994	—	$20.7M
MUBIshares Tr	0.2%	—	187,001	—	$20.1M
VALValaris Ltd	0.2%	—	240,000	—	$17.4M
AXTAAxalta Coating Sys Ltd	0.2%	—	500,000	—	$17.1M
CEGConstellation Energy Corp	0.2%	0.2%	68,681	+13.6%	$17.1M
CRMSalesforce Inc	0.2%	—	108,524	—	$17.0M

What Capstone Investment Advisors, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

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

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: +14.0% /yr; S&P 500 +11.7%
3 years: +30.1% /yr; S&P 500 +22.3%
5 years: +13.7% /yr; S&P 500 +10.2%

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	$10.9B	858
Q1 2026	$9.0B	786
Q4 2025	$9.9B	720
Q3 2025	$9.4B	1,011
Q2 2025	$9.7B	746
Q1 2025	$8.7B	441
Q4 2024	$7.9B	652
Q3 2024	$2.9B	741
Q2 2024	$2.2B	908
Q1 2024	$2.9B	1,187
Q4 2023	$3.0B	914
Q3 2023	$1.8B	955

Questions about Capstone Investment Advisors, LLC's portfolio

What stocks does Capstone Investment Advisors, LLC own?

Capstone Investment Advisors, LLC's latest 13F, for Q2 2026 and filed Aug 17, 2026, lists 858 positions worth $10.9B. The largest are Microsoft Corp (MSFT) at 14.7%, Nvidia Corporation (NVDA) at 12.6%, Ishares Tr (IVV) at 10.7%, Amazon Com Inc (AMZN) at 6.7% and Vanguard Index Fds (VOO) at 5.4%.

What did Capstone Investment Advisors, LLC buy last quarter?

In Q2 2026, Capstone Investment Advisors, LLC added Invesco Qqq Tr (QQQ) (+1255.9% shares), Micron Technology Inc (MU) (+331.4% shares) and Palantir Technologies Inc (PLTR) (+188.4% shares), compared with its Q1 2026 filing.

What did Capstone Investment Advisors, LLC sell last quarter?

In Q2 2026, Capstone Investment Advisors, LLC cut from its top 50 Alphabet Inc (GOOGL), cut from its top 50 Electronic Arts Inc (EA), cut from its top 50 International Business Machs (IBM), cut from its top 50 Alcoa Corp Com (AA), cut from its top 50 Kirby Corp (KEX), Advanced Micro Devices Inc (AMD) (-91.5% shares), State Str Spdr S&p 500 ETF T (SPY) (-82.9% shares) and Alphabet Inc (GOOG) (-67.6% shares), compared with its Q1 2026 filing.

How has Capstone Investment Advisors, LLC's portfolio performed?

A portfolio copying Capstone Investment Advisors, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +30.1% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +14.0% against +11.7%. Over 5 years: +13.7% a year against +10.2%.

When is Capstone Investment Advisors, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Capstone Investment Advisors, LLC'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 Investment Advisors, LLC manage?

Capstone Investment Advisors, LLC reported $91.5B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $10.9B.