Filed: 11/14/2025ACC: 0001426196-25-000006
📋 What this filing means
CAPSTONE INVESTMENT ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 1205 equity positions with a total reported market value of $53.72B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
1205
Positions
$53.72B
Total AUM (reported)
1.79B
Total Shares
Allocation by class
COM$21.85B40.7%
TR UNIT$17.33B32.3%
RUSSELL 2000 ETF$2.12B3.9%
UNIT SER 1$1.59B3.0%
CL A$1.38B2.6%
CAP STK CL A$971.11M1.8%
CORE S&P500 ETF$644.09M1.2%
Portfolio Concentration
Top 3$24.57B45.7%
4–10$12.35B23.0%
11–25$5.61B10.4%
Rest$11.20B20.8%
Top 3 weight
45.7%
Top 10 weight
68.7%
Voting Authority Distribution
Total shares with voting rights: 1.79B
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
1.79B
shares
% of voting shares100.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other1205
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings1205
Rows:
SPDR S&P 500 ETF TR
DFNDShares26.02M
TypeSH
Market value$17.33B
32.26%
Sole
0.00
Shared
26.02M
None
0.00
NVIDIA CORPORATION
DFNDShares23M
TypeSH
Market value$4.29B
7.99%
Sole
0.00
Shared
23M
None
0.00
MICROSOFT CORP
DFNDShares5.68M
TypeSH
Market value$2.94B
5.47%
Sole
0.00
Shared
5.68M
None
0.00
TESLA INC
DFNDShares6.04M
TypeSH
Market value$2.69B
5.00%
Sole
0.00
Shared
6.04M
None
0.00
AMAZON COM INC
DFNDShares11.53M
TypeSH
Market value$2.53B
4.71%
Sole
0.00
Shared
11.53M
None
0.00
ISHARES TR
DFNDShares8.77M
TypeSH
Market value$2.12B
3.95%
Sole
0.00
Shared
8.77M
None
0.00
INVESCO QQQ TR
DFNDShares2.65M
TypeSH
Market value$1.59B
2.96%
Sole
0.00
Shared
2.65M
None
0.00
APPLE INC
DFNDShares5.68M
TypeSH
Market value$1.45B
2.69%
Sole
0.00
Shared
5.68M
None
0.00
ADVANCED MICRO DEVICES INC
DFNDShares6.20M
TypeSH
Market value$1.00B
1.87%
Sole
0.00
Shared
6.20M
None
0.00
ALPHABET INC
DFNDShares3.99M
TypeSH
Market value$971.11M
1.81%
Sole
0.00
Shared
3.99M
None
0.00
META PLATFORMS INC
DFNDShares1.03M
TypeSH
Market value$754.14M
1.40%
Sole
0.00
Shared
1.03M
None
0.00
ISHARES TR
DFNDShares962.34K
TypeSH
Market value$644.09M
1.20%
Sole
0.00
Shared
962.34K
None
0.00
ISHARES TR
DFNDShares9.77M
TypeSH
Market value$521.86M
0.97%
Sole
0.00
Shared
9.77M
None
0.00
SELECT SECTOR SPDR TR
DFNDShares8.62M
TypeSH
Market value$464.41M
0.86%
Sole
0.00
Shared
8.62M
None
0.00
BROADCOM INC
DFNDShares1.35M
TypeSH
Market value$444.76M
0.83%
Sole
0.00
Shared
1.35M
None
0.00
ALPHABET INC
DFNDShares1.58M
TypeSH
Market value$384.20M
0.72%
Sole
0.00
Shared
1.58M
None
0.00
VANGUARD INDEX FDS
DFNDShares614.02K
TypeSH
Market value$376.01M
0.70%
Sole
0.00
Shared
614.02K
None
0.00
ISHARES TR
DFNDShares7.69M
TypeSH
Market value$316.52M
0.59%
Sole
0.00
Shared
7.69M
None
0.00
ISHARES TR
DFNDShares3.60M
TypeSH
Market value$292.02M
0.54%
Sole
0.00
Shared
3.60M
None
0.00
SPDR SERIES TRUST
DFNDShares2.08M
TypeSH
Market value$275.23M
0.51%
Sole
0.00
Shared
2.08M
None
0.00
BERKSHIRE HATHAWAY INC DEL
DFNDShares531.14K
TypeSH
Market value$267.03M
0.50%
Sole
0.00
Shared
531.14K
None
0.00
INTERNATIONAL BUSINESS MACHS
DFNDShares819.33K
TypeSH
Market value$231.18M
0.43%
Sole
0.00
Shared
819.33K
None
0.00
ISHARES TR
DFNDShares2.38M
TypeSH
Market value$221.85M
0.41%
Sole
0.00
Shared
2.38M
None
0.00
ORACLE CORP
DFNDShares771.43K
TypeSH
Market value$216.96M
0.40%
Sole
0.00
Shared
771.43K
None
0.00
JPMORGAN CHASE & CO.
DFNDShares638.94K
TypeSH
Market value$201.54M
0.38%
Sole
0.00
Shared
638.94K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRDFND | TR UNIT | 26.02M | SH | $17.33B 32.26% | 0.00 | 26.02M | 0.00 |
NVIDIA CORPORATIONDFND | COM | 23M | SH | $4.29B 7.99% | 0.00 | 23M | 0.00 |
MICROSOFT CORPDFND | COM | 5.68M | SH | $2.94B 5.47% | 0.00 | 5.68M | 0.00 |
TESLA INCDFND | COM | 6.04M | SH | $2.69B 5.00% | 0.00 | 6.04M | 0.00 |
AMAZON COM INCDFND | COM | 11.53M | SH | $2.53B 4.71% | 0.00 | 11.53M | 0.00 |
ISHARES TRDFND | RUSSELL 2000 ETF | 8.77M | SH | $2.12B 3.95% | 0.00 | 8.77M | 0.00 |
INVESCO QQQ TRDFND | UNIT SER 1 | 2.65M | SH | $1.59B 2.96% | 0.00 | 2.65M | 0.00 |
APPLE INCDFND | COM | 5.68M | SH | $1.45B 2.69% | 0.00 | 5.68M | 0.00 |
ADVANCED MICRO DEVICES INCDFND | COM | 6.20M | SH | $1.00B 1.87% | 0.00 | 6.20M | 0.00 |
ALPHABET INCDFND | CAP STK CL A | 3.99M | SH | $971.11M 1.81% | 0.00 | 3.99M | 0.00 |
META PLATFORMS INCDFND | CL A | 1.03M | SH | $754.14M 1.40% | 0.00 | 1.03M | 0.00 |
ISHARES TRDFND | CORE S&P500 ETF | 962.34K | SH | $644.09M 1.20% | 0.00 | 962.34K | 0.00 |
ISHARES TRDFND | MSCI EMG MKT ETF | 9.77M | SH | $521.86M 0.97% | 0.00 | 9.77M | 0.00 |
SELECT SECTOR SPDR TRDFND | FINANCIAL | 8.62M | SH | $464.41M 0.86% | 0.00 | 8.62M | 0.00 |
BROADCOM INCDFND | COM | 1.35M | SH | $444.76M 0.83% | 0.00 | 1.35M | 0.00 |
ALPHABET INCDFND | CAP STK CL C | 1.58M | SH | $384.20M 0.72% | 0.00 | 1.58M | 0.00 |
VANGUARD INDEX FDSDFND | S&P 500 ETF SHS | 614.02K | SH | $376.01M 0.70% | 0.00 | 614.02K | 0.00 |
ISHARES TRDFND | CHINA LG-CAP ETF | 7.69M | SH | $316.52M 0.59% | 0.00 | 7.69M | 0.00 |
ISHARES TRDFND | IBOXX HI YD ETF | 3.60M | SH | $292.02M 0.54% | 0.00 | 3.60M | 0.00 |
SPDR SERIES TRUSTDFND | S&P OILGAS EXP | 2.08M | SH | $275.23M 0.51% | 0.00 | 2.08M | 0.00 |
BERKSHIRE HATHAWAY INC DELDFND | CL B NEW | 531.14K | SH | $267.03M 0.50% | 0.00 | 531.14K | 0.00 |
INTERNATIONAL BUSINESS MACHSDFND | COM | 819.33K | SH | $231.18M 0.43% | 0.00 | 819.33K | 0.00 |
ISHARES TRDFND | MSCI EAFE ETF | 2.38M | SH | $221.85M 0.41% | 0.00 | 2.38M | 0.00 |
ORACLE CORPDFND | COM | 771.43K | SH | $216.96M 0.40% | 0.00 | 771.43K | 0.00 |
JPMORGAN CHASE & CO.DFND | COM | 638.94K | SH | $201.54M 0.38% | 0.00 | 638.94K | 0.00 |
Page 1 of 49
…