CAPSTONE INVESTMENT ADVISORS, LLC
Institutional investor · Portfolio as of Q4 2025
Top Holdings1,530 positions
SPDR S&P 500 ETF TRUST | 19.6M | $13.3B | 26.1% | — | — | — | Decreased — |
INVESCO QQQ TRUST SERIES 1 | 5.1M | $3.1B | 6.1% | — | — | — | Increased — |
NVIDIA CORP | 12.1M | $2.3B | 4.4% | — | — | — | Decreased — |
ISHARES RUSSELL 2000 ETF | 7.2M | $1.8B | 3.4% | — | — | — | Decreased — |
NVIDIA CORP | 8.6M | $1.6B | 3.1% | $131.32 | +41.69% | 11 qtrssince 2023-Q2 | Increased 73 |
INVESCO QQQ TRUST SERIES 1 | 2.3M | $1.4B | 2.8% | — | — | — | Increased — |
ISHARES TR | 1.8M | $1.2B | 2.4% | $615.94 | +10.29% | 8 qtrssince 2024-Q1 | Increased 85 |
ALPHABET INC-CL A | 3.7M | $1.2B | 2.3% | — | — | — | Increased — |
AMAZON.COM INC | 3.9M | $904.8M | 1.8% | — | — | — | Decreased — |
ALPHABET INC-CL A | 2.8M | $864M | 1.7% | $239.18 | +30.61% | 21 qtrssince 2020-Q4 | Increased 81 |
TESLA INC | 1.9M | $839.4M | 1.6% | — | — | — | Decreased — |
APPLE INC | 3.1M | $831.3M | 1.6% | — | — | — | Decreased — |
SPDR S&P 500 ETF TRUST | 1.1M | $770.6M | 1.5% | — | — | — | Decreased — |
MICROSOFT CORP | 1.5M | $715.2M | 1.4% | — | — | — | Decreased — |
ALPHABET INC-CL C | 2.1M | $646.7M | 1.3% | — | — | — | Increased — |
AMAZON.COM INC | 2.7M | $616.1M | 1.2% | $214.54 | +7.59% | 29 qtrssince 2018-Q4 | Decreased 0 |
ADVANCED MICRO DEVICES | 2.6M | $567.2M | 1.1% | — | — | — | Decreased — |
FINANCIAL SELECT SECTOR SPDR | 10.2M | $559M | 1.1% | — | — | — | Increased — |
ADVANCED MICRO DEVICES | 2.5M | $528.5M | 1.0% | $127.11 | +68.48% | 18 qtrssince 2021-Q3 | Decreased 0 |
VANGUARD INDEX FDS | 829,895 | $520.5M | 1.0% | $589.44 | +5.48% | 6 qtrssince 2024-Q3 | Increased 64 |
CAPSTONE INVESTMENT ADVISORS, LLC manages $51.1B across 1530 positions as of Q4 2025. Top holdings: SPY puts (26.1%), QQQ puts (6.1%), NVDA puts (4.4%). Fund DNA: Momentum Trader. HoldingsIntel Score: 1.5/5.0.
Active quarter - 229 new positions, 512 exits, 244 increased. Top move: IVV (INCREASED, conviction 85). Portfolio: $51.1B across 1530 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer
Verify source filings on SEC EDGAR