Capstone Investment Advisors, LLC Top Holdings and 13F Report (2025)

About Capstone Investment Advisors, LLC

Investment Activity

Capstone Investment Advisors, LLC has $54.04 billion in total holdings as of December 31, 2024.
Capstone Investment Advisors, LLC owns shares of 1,097 different stocks, but just 33 companies or ETFs make up 80% of its holdings.
Approximately 15.92% of the portfolio was purchased this quarter.
About 42.76% of the portfolio was sold this quarter.
This quarter, Capstone Investment Advisors, LLC has purchased 1,002 new stocks and bought additional shares in 405 stocks.
Capstone Investment Advisors, LLC sold shares of 322 stocks and completely divested from 224 stocks this quarter.

Largest Holdings

Invesco QQQ: $8,138,578,658
SPDR S&P 500 ETF Trust: $7,715,275,165
NVIDIA: $3,950,010,105
Microsoft: $3,555,869,476
Amazon.com: $1,982,816,480

Largest New Holdings this Quarter

654902204 - Nokia: $387,050,633 Holding
84615Q103 - SPACE EXPLORATION TECHN CORP: $194,353,250 Holding
538034BA6 - LIVE NATION ENTERTAINMENT IN: $71,360,000 Holding
00971TAQ4 - AKAMAI TECHNOLOGIES INC: $65,733,756 Holding
29786A106 - ETSY INC: $48,264,383 Holding

Largest Purchases this Quarter

NVIDIA: 5,151,259 shares (about $1.03B)
Microsoft: 2,587,954 shares (about $965.36M)
Nokia: 29,145,379 shares (about $387.05M)
SPDR S&P Regional Banking ETF: 4,590,886 shares (about $343.63M)
iShares Russell 2000 ETF: 1,066,094 shares (about $320.31M)

Largest Sales this Quarter

Invesco QQQ: 15,595,843 shares (about $11.48B)
SPDR S&P 500 ETF Trust: 6,761,996 shares (about $5.05B)
Amazon.com: 6,058,433 shares (about $1.44B)
Advanced Micro Devices: 1,016,866 shares (about $590.71M)
Alphabet: 1,132,686 shares (about $400.21M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
QQQ Invesco QQQ	$8,138,578,658	$11,484,778,785 ▼	-58.5%	11,051,845	15.1%	ETF
SPY SPDR S&P 500 ETF Trust	$7,715,275,165	$5,049,655,753 ▼	-39.6%	10,331,528	14.3%	ETF
NVDA NVIDIA	$3,950,010,105	$1,030,715,413 ▲	35.3%	19,741,167	7.3%	Technology
MSFT Microsoft	$3,555,869,476	$965,358,601 ▲	37.3%	9,532,651	6.6%	Technology
AMZN Amazon.com	$1,982,816,480	$1,443,966,921 ▼	-42.1%	8,319,277	3.7%	Consumer Discretionary
AAPL Apple	$1,837,232,580	$319,231,212 ▲	21.0%	6,349,297	3.4%	Technology
TSLA Tesla	$1,673,520,713	$131,610,367 ▼	-7.3%	3,978,889	3.1%	Consumer Discretionary
WESTERN DIGITAL CORP	$1,356,378,578		0.0%	80,500,000	2.5%	NOTE 3.000%11/1
IVV iShares Core S&P 500 ETF	$1,169,847,060	$3,200,756 ▲	0.3%	1,562,108	2.2%	ETF
MU Micron Technology	$911,841,774	$302,385,888 ▲	49.6%	789,959	1.7%	Technology
IWM iShares Russell 2000 ETF	$864,993,747	$320,307,942 ▲	58.8%	2,878,994	1.6%	ETF
FXI iShares China Large-Cap ETF	$859,343,626	$139,433,143 ▲	19.4%	27,203,027	1.6%	ETF
META Meta Platforms	$841,707,912	$194,334,487 ▲	30.0%	1,494,271	1.6%	Communication Services
XLF Financial Select Sector SPDR Fund	$820,736,939	$123,957,043 ▲	17.8%	15,309,400	1.5%	ETF
GOOG Alphabet	$742,036,460	$400,211,945 ▼	-35.0%	2,100,123	1.4%	Communication Services
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF	$681,414,823	$124,198,009 ▲	22.3%	6,247,500	1.3%	ETF
YNDX Yandex	$623,412,077	$26,608,703 ▲	4.5%	2,257,349	1.2%	Technology
AVGO Broadcom	$591,592,386	$52,205,050 ▲	9.7%	1,566,095	1.1%	Technology
GOOGL Alphabet	$590,527,837	$352,168,122 ▼	-37.4%	1,652,427	1.1%	Communication Services
VOO Vanguard S&P 500 ETF	$589,230,782	$1,778,151 ▲	0.3%	857,924	1.1%	ETF
AMD Advanced Micro Devices	$430,142,361	$590,707,628 ▼	-57.9%	740,463	0.8%	Technology
KRE SPDR S&P Regional Banking ETF	$392,567,966	$343,627,817 ▲	702.1%	5,244,729	0.7%	ETF
NOK Nokia	$387,050,633	$387,050,633 ▲	New Holding	29,145,379	0.7%	Technology
BRK.B Berkshire Hathaway	$374,020,509	$214,842,947 ▲	135.0%	747,458	0.7%	Finance
INTC Intel	$316,920,305	$8,553,734 ▲	2.8%	2,269,715	0.6%	Technology
HYG iShares iBoxx $ High Yield Corporate Bond ETF	$313,878,252	$43,363,733 ▼	-12.1%	3,924,950	0.6%	ETF
ORCL Oracle	$280,216,936	$74,433,917 ▲	36.2%	1,912,091	0.5%	Technology
EEM iShares MSCI Emerging Markets ETF	$273,158,736	$90,041,379 ▼	-24.8%	3,992,965	0.5%	ETF
SMH VanEck Semiconductor ETF	$243,991,080	$235,018,505 ▲	2,619.3%	372,000	0.5%	ETF
MSTR Strategy	$232,995,089	$222,624,862 ▲	2,146.8%	2,680,261	0.4%	Technology
PALANTIR TECHNOLOGIES INC	$215,784,665	$79,080,326 ▲	57.8%	1,849,530	0.4%	CL A
JPM JPMorgan Chase & Co.	$205,675,842	$19,476,135 ▲	10.5%	628,344	0.4%	Finance
ECHOSTAR CORP	$204,962,501	$41,250,000 ▲	25.2%	65,588,000	0.4%	NOTE 3.875%11/3
SPACE EXPLORATION TECHN CORP	$194,353,250	$194,353,250 ▲	New Holding	1,137,500	0.4%	CLASS A COM STK
AMAT Applied Materials	$185,865,948	$39,403,500 ▲	26.9%	257,076	0.3%	Technology
SANDISK CORP	$178,340,013	$89,373,505 ▲	100.5%	78,435	0.3%	COM
LAM RESEARCH CORP	$169,259,998	$56,771,863 ▲	50.5%	390,603	0.3%	COM NEW
LLY Eli Lilly and Company	$163,574,665	$21,193,928 ▲	14.9%	136,377	0.3%	Healthcare
XOM ExxonMobil	$161,038,797	$18,326,632 ▲	12.8%	1,177,873	0.3%	Energy
WBD Warner Bros. Discovery	$150,079,804	$369,209,008 ▼	-71.1%	5,629,400	0.3%	Communication Services
BABA Alibaba Group	$147,249,445	$129,064,882 ▲	709.7%	1,534,168	0.3%	Consumer Discretionary
INTERDIGITAL INC	$127,717,647	$1,295,994 ▲	1.0%	34,886,000	0.2%	NOTE 3.500% 6/0
BRIDGEBIO PHARMA INC	$124,494,436	$27,617,125 ▲	28.5%	69,872,000	0.2%	NOTE 2.500% 3/1
NFLX Netflix	$123,597,613	$44,323,264 ▲	55.9%	1,731,059	0.2%	Communication Services
CSCO Cisco Systems	$117,500,876	$46,385,776 ▲	65.2%	1,000,348	0.2%	Technology
BAC Bank of America	$108,714,592	$17,518,729 ▼	-13.9%	1,907,943	0.2%	Finance
CAT Caterpillar	$106,624,177	$10,982,314 ▲	11.5%	100,126	0.2%	Industrials
JNJ Johnson & Johnson	$105,700,282	$746,926 ▼	-0.7%	416,192	0.2%	Healthcare
WALMART INC	$103,984,006	$3,845,743 ▲	3.8%	918,100	0.2%	COM
ISHARES BITCOIN TRUST ETF	$100,535,800	$18,309,500 ▼	-15.4%	3,020,000	0.2%	SHS BEN INT
PG Procter & Gamble	$94,165,169	$30,383,368 ▲	47.6%	642,152	0.2%	Consumer Staples
V Visa	$93,697,879	$38,456,615 ▼	-29.1%	273,100	0.2%	Finance
ADBE Adobe	$89,571,188	$33,843,677 ▲	60.7%	436,890	0.2%	Technology
PANW Palo Alto Networks	$89,244,934	$54,389,621 ▼	-37.9%	261,700	0.2%	Technology
GS The Goldman Sachs Group	$86,677,443	$21,602,863 ▲	33.2%	85,703	0.2%	Finance
CLOUDFLARE INC	$86,222,301	$31,207,325 ▼	-26.6%	67,000,000	0.2%	NOTE 8/1
CVX Chevron	$85,340,044	$18,107,788 ▲	26.9%	514,841	0.2%	Energy
C Citigroup	$81,225,646	$1,990,931 ▲	2.5%	580,349	0.2%	Finance
CHEFS WHSE INC	$79,756,932	$12,925,028 ▼	-13.9%	35,636,000	0.1%	NOTE 2.375%12/1
GE VERNOVA INC	$79,063,379	$11,926,004 ▲	17.8%	67,296	0.1%	COM
GTLS Chart Industries	$77,307,800	$43,250,580 ▲	127.0%	370,000	0.1%	Industrials
UNH UnitedHealth Group	$76,815,905	$12,327,170 ▲	19.1%	184,818	0.1%	Healthcare
XLE Energy Select Sector SPDR Fund	$76,464,910	$14,673,549 ▲	23.7%	1,439,746	0.1%	ETF
CRM Salesforce	$76,156,186	$15,286,100 ▲	25.1%	486,124	0.1%	Technology
QCOM Qualcomm	$74,448,010	$8,980,424 ▲	13.7%	402,879	0.1%	Technology
KVUE Kenvue	$72,542,649	$17,270,930 ▲	31.2%	3,796,057	0.1%	Consumer Staples
WBS Webster Financial	$71,452,700	$6,533,910 ▲	10.1%	935,000	0.1%	Finance
LIVE NATION ENTERTAINMENT IN	$71,360,000	$71,360,000 ▲	New Holding	40,000,000	0.1%	NOTE 3.125% 1/1
TSM Taiwan Semiconductor Manufacturing	$70,624,484	$47,869,229 ▲	210.4%	147,883	0.1%	Technology
KO CocaCola	$69,634,980	$24,703,317 ▲	55.0%	856,835	0.1%	Consumer Staples
MRVL Marvell Technology	$68,603,471	$20,643,479 ▼	-23.1%	230,298	0.1%	Technology
MIRUM PHARMACEUTICALS INC	$68,303,720	$31,663,780 ▼	-31.7%	18,448,000	0.1%	NOTE 4.000% 5/0
AKAMAI TECHNOLOGIES INC	$65,733,756	$65,733,756 ▲	New Holding	45,000,000	0.1%	NOTE 0.250% 5/1
HD Home Depot	$64,323,189	$9,000,041 ▲	16.3%	182,384	0.1%	Consumer Discretionary
XERIS BIOPHARMA HOLDINGS INC	$62,636,680		0.0%	23,074,000	0.1%	NOTE 8.000% 7/1
COST Costco Wholesale	$61,283,575	$16,570,916 ▼	-21.3%	65,511	0.1%	Consumer Staples
UBER Uber Technologies	$60,941,357	$5,657,344 ▲	10.2%	844,531	0.1%	Industrials
BIOMARIN PHARMACEUTICAL INC	$60,821,254	$7,977,724 ▲	15.1%	62,432,000	0.1%	NOTE 1.250% 5/1
UBER TECHNOLOGIES INC	$57,349,458	$17,970,000 ▲	45.6%	47,871,000	0.1%	NOTE 0.875%12/0
ABBV AbbVie	$56,788,354	$4,652,320 ▼	-7.6%	225,673	0.1%	Healthcare
MRK Merck & Co., Inc.	$56,052,857	$3,657,496 ▼	-6.1%	436,209	0.1%	Healthcare
WFC Wells Fargo & Company	$55,696,798	$8,535,720 ▼	-13.3%	673,969	0.1%	Finance
CRWD CrowdStrike	$55,556,592	$2,330,630 ▼	-4.0%	72,800	0.1%	Technology
RTX RTX	$54,940,116	$69,631 ▲	0.1%	289,570	0.1%	Industrials
MS Morgan Stanley	$54,451,366	$10,707,029 ▼	-16.4%	260,483	0.1%	Finance
IBM International Business Machines	$54,380,109	$68,822,773 ▼	-55.9%	193,379	0.1%	Technology
GE GE Aerospace	$54,028,277	$569,938 ▼	-1.0%	144,565	0.1%	Industrials
MA Mastercard	$51,430,877	$31,845,255 ▼	-38.2%	100,138	0.1%	Finance
STX Seagate Technology	$50,806,285	$20,947,255 ▲	70.2%	52,649	0.1%	Technology
VZ Verizon Communications	$49,166,563	$17,204,478 ▲	53.8%	1,161,232	0.1%	Communication Services
MCD McDonald's	$48,498,750	$25,020,975 ▲	106.6%	179,419	0.1%	Consumer Discretionary
ETSY INC	$48,264,383	$48,264,383 ▲	New Holding	640,706	0.1%	COM
DIS Walt Disney	$46,685,485	$8,908,226 ▲	23.6%	485,044	0.1%	Communication Services
DELL Dell Technologies	$45,826,230	$22,632,666 ▲	97.6%	106,212	0.1%	Technology
CEREBRAS SYSTEMS INC	$44,664,100	$44,664,100 ▲	New Holding	202,100	0.1%	COM CL A
ETSY INC	$44,565,400	$44,565,400 ▲	New Holding	47,000,000	0.1%	NOTE 0.125% 9/0
BLACKROCK INC	$44,337,532	$22,943,783 ▲	107.2%	46,110	0.1%	COM
ROKU Roku	$44,204,800	$41,681,258 ▲	1,651.7%	320,000	0.1%	Communication Services
NOW ServiceNow	$44,203,526	$448,944 ▲	1.0%	445,241	0.1%	Technology
ETSY INC	$43,854,175	$43,854,175 ▲	New Holding	37,750,000	0.1%	NOTE 1.000% 6/1

Showing largest 100 holdings. View all holdings.

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Capstone Investment Advisors, LLC Top Holdings and 13F Report (2025)

About Capstone Investment Advisors, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

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Capstone Investment Advisors, LLC Top Holdings and 13F Report (2025)

About Capstone Investment Advisors, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofCapstone Investment Advisors, LLC

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools