Filed: 8/14/2025ACC: 0001426196-25-000002
📋 What this filing means
CAPSTONE INVESTMENT ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 964 equity positions with a total reported market value of $40.39B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
964
Positions
$40.39B
Total AUM (reported)
1.87B
Total Shares
Allocation by class
COM$17.72B43.9%
TR UNIT$12.31B30.5%
UNIT SER 1$1.18B2.9%
CAP STK CL A$1.09B2.7%
CL A$791.92M2.0%
RUSSELL 2000 ETF$691.99M1.7%
CORE S&P500 ETF$595.59M1.5%
Portfolio Concentration
Top 3$19.33B47.9%
4–10$9.83B24.3%
11–25$3.74B9.3%
Rest$7.50B18.6%
Top 3 weight
47.9%
Top 10 weight
72.2%
Voting Authority Distribution
Total shares with voting rights: 1.87B
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
1.87B
shares
% of voting shares100.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other964
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings964
Rows:
SPDR S&P 500 ETF TR
DFNDShares19.93M
TypeSH
Market value$12.31B
30.48%
Sole
0.00
Shared
19.93M
None
0.00
NVIDIA CORPORATION
DFNDShares23.84M
TypeSH
Market value$3.77B
9.32%
Sole
0.00
Shared
23.84M
None
0.00
TESLA INC
DFNDShares10.24M
TypeSH
Market value$3.25B
8.05%
Sole
0.00
Shared
10.24M
None
0.00
AMAZON COM INC
DFNDShares9.36M
TypeSH
Market value$2.05B
5.08%
Sole
0.00
Shared
9.36M
None
0.00
MICROSOFT CORP
DFNDShares4.05M
TypeSH
Market value$2.02B
4.99%
Sole
0.00
Shared
4.05M
None
0.00
APPLE INC
DFNDShares9.09M
TypeSH
Market value$1.86B
4.62%
Sole
0.00
Shared
9.09M
None
0.00
INVESCO QQQ TR
DFNDShares2.14M
TypeSH
Market value$1.18B
2.92%
Sole
0.00
Shared
2.14M
None
0.00
ALPHABET INC
DFNDShares6.17M
TypeSH
Market value$1.09B
2.69%
Sole
0.00
Shared
6.17M
None
0.00
ADVANCED MICRO DEVICES INC
DFNDShares6.59M
TypeSH
Market value$935.05M
2.31%
Sole
0.00
Shared
6.59M
None
0.00
ISHARES TR
DFNDShares3.21M
TypeSH
Market value$691.99M
1.71%
Sole
0.00
Shared
3.21M
None
0.00
ISHARES TR
DFNDShares959.24K
TypeSH
Market value$595.59M
1.47%
Sole
0.00
Shared
959.24K
None
0.00
SPDR GOLD TR
DFNDShares1.72M
TypeSH
Market value$523.12M
1.30%
Sole
0.00
Shared
1.72M
None
0.00
ISHARES TR
DFNDShares9.82M
TypeSH
Market value$473.69M
1.17%
Sole
0.00
Shared
9.82M
None
0.00
ALPHABET INC
DFNDShares2.12M
TypeSH
Market value$375.81M
0.93%
Sole
0.00
Shared
2.12M
None
0.00
META PLATFORMS INC
DFNDShares404.90K
TypeSH
Market value$298.85M
0.74%
Sole
0.00
Shared
404.90K
None
0.00
ISHARES TR
DFNDShares2.60M
TypeSH
Market value$210.05M
0.52%
Sole
0.00
Shared
2.60M
None
0.00
BROADCOM INC
DFNDShares653.07K
TypeSH
Market value$180.02M
0.45%
Sole
0.00
Shared
653.07K
None
0.00
BERKSHIRE HATHAWAY INC DEL
DFNDShares347.24K
TypeSH
Market value$168.68M
0.42%
Sole
0.00
Shared
347.24K
None
0.00
ISHARES BITCOIN TRUST ETF
DFNDShares2.22M
TypeSH
Market value$136.14M
0.34%
Sole
0.00
Shared
2.22M
None
0.00
ZSCALER INC
DFNDShares66.50M
TypePRN
Market value$136.13M
0.34%
Sole
0.00
Shared
66.50M
None
0.00
ISHARES TR
DFNDShares3.58M
TypeSH
Market value$131.71M
0.33%
Sole
0.00
Shared
3.58M
None
0.00
NOVA LTD
DFNDShares35.70M
TypePRN
Market value$131.53M
0.33%
Sole
0.00
Shared
35.70M
None
0.00
SELECT SECTOR SPDR TR
DFNDShares2.50M
TypeSH
Market value$131.04M
0.32%
Sole
0.00
Shared
2.50M
None
0.00
CITIGROUP INC
DFNDShares1.52M
TypeSH
Market value$129.49M
0.32%
Sole
0.00
Shared
1.52M
None
0.00
SPDR SERIES TRUST
DFNDShares934.72K
TypeSH
Market value$117.59M
0.29%
Sole
0.00
Shared
934.72K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRDFND | TR UNIT | 19.93M | SH | $12.31B 30.48% | 0.00 | 19.93M | 0.00 |
NVIDIA CORPORATIONDFND | COM | 23.84M | SH | $3.77B 9.32% | 0.00 | 23.84M | 0.00 |
TESLA INCDFND | COM | 10.24M | SH | $3.25B 8.05% | 0.00 | 10.24M | 0.00 |
AMAZON COM INCDFND | COM | 9.36M | SH | $2.05B 5.08% | 0.00 | 9.36M | 0.00 |
MICROSOFT CORPDFND | COM | 4.05M | SH | $2.02B 4.99% | 0.00 | 4.05M | 0.00 |
APPLE INCDFND | COM | 9.09M | SH | $1.86B 4.62% | 0.00 | 9.09M | 0.00 |
INVESCO QQQ TRDFND | UNIT SER 1 | 2.14M | SH | $1.18B 2.92% | 0.00 | 2.14M | 0.00 |
ALPHABET INCDFND | CAP STK CL A | 6.17M | SH | $1.09B 2.69% | 0.00 | 6.17M | 0.00 |
ADVANCED MICRO DEVICES INCDFND | COM | 6.59M | SH | $935.05M 2.31% | 0.00 | 6.59M | 0.00 |
ISHARES TRDFND | RUSSELL 2000 ETF | 3.21M | SH | $691.99M 1.71% | 0.00 | 3.21M | 0.00 |
ISHARES TRDFND | CORE S&P500 ETF | 959.24K | SH | $595.59M 1.47% | 0.00 | 959.24K | 0.00 |
SPDR GOLD TRDFND | GOLD SHS | 1.72M | SH | $523.12M 1.30% | 0.00 | 1.72M | 0.00 |
ISHARES TRDFND | MSCI EMG MKT ETF | 9.82M | SH | $473.69M 1.17% | 0.00 | 9.82M | 0.00 |
ALPHABET INCDFND | CAP STK CL C | 2.12M | SH | $375.81M 0.93% | 0.00 | 2.12M | 0.00 |
META PLATFORMS INCDFND | CL A | 404.90K | SH | $298.85M 0.74% | 0.00 | 404.90K | 0.00 |
ISHARES TRDFND | IBOXX HI YD ETF | 2.60M | SH | $210.05M 0.52% | 0.00 | 2.60M | 0.00 |
BROADCOM INCDFND | COM | 653.07K | SH | $180.02M 0.45% | 0.00 | 653.07K | 0.00 |
BERKSHIRE HATHAWAY INC DELDFND | CL B NEW | 347.24K | SH | $168.68M 0.42% | 0.00 | 347.24K | 0.00 |
ISHARES BITCOIN TRUST ETFDFND | SHS BEN INT | 2.22M | SH | $136.14M 0.34% | 0.00 | 2.22M | 0.00 |
ZSCALER INCDFND | NOTE 0.125% 7/0 | 66.50M | PRN | $136.13M 0.34% | 0.00 | 66.50M | 0.00 |
ISHARES TRDFND | CHINA LG-CAP ETF | 3.58M | SH | $131.71M 0.33% | 0.00 | 3.58M | 0.00 |
NOVA LTDDFND | NOTE10/1 | 35.70M | PRN | $131.53M 0.33% | 0.00 | 35.70M | 0.00 |
SELECT SECTOR SPDR TRDFND | FINANCIAL | 2.50M | SH | $131.04M 0.32% | 0.00 | 2.50M | 0.00 |
CITIGROUP INCDFND | COM NEW | 1.52M | SH | $129.49M 0.32% | 0.00 | 1.52M | 0.00 |
SPDR SERIES TRUSTDFND | S&P OILGAS EXP | 934.72K | SH | $117.59M 0.29% | 0.00 | 934.72K | 0.00 |
Page 1 of 39
…