Filed: 2/17/2026ACC: 0001426196-26-000001
📋 What this filing means
CAPSTONE INVESTMENT ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 939 equity positions with a total reported market value of $51.09B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
939
Positions
$51.09B
Total AUM (reported)
10.54B
Total Shares
Allocation by class
COM$16.94B33.2%
TR UNIT$14.22B27.8%
UNIT SER 1$4.57B8.9%
CAP STK CL A$2.11B4.1%
RUSSELL 2000 ETF$1.84B3.6%
CORE S&P500 ETF$1.22B2.4%
CL A$1.20B2.3%
Portfolio Concentration
Top 3$23.12B45.2%
4–10$11.14B21.8%
11–25$7.78B15.2%
Rest$9.05B17.7%
Top 3 weight
45.2%
Top 10 weight
67.1%
Voting Authority Distribution
Total shares with voting rights: 10.54B
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
10.54B
shares
% of voting shares100.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other939
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings939
Rows:
SPDR S&P 500 ETF TR
DFNDShares20.86M
TypeSH
Market value$14.22B
27.84%
Sole
0.00
Shared
20.86M
None
0.00
INVESCO QQQ TR
DFNDShares7.43M
TypeSH
Market value$4.57B
8.94%
Sole
0.00
Shared
7.43M
None
0.00
NVIDIA CORPORATION
DFNDShares23.20M
TypeSH
Market value$4.33B
8.47%
Sole
0.00
Shared
23.20M
None
0.00
ALPHABET INC
DFNDShares6.73M
TypeSH
Market value$2.11B
4.12%
Sole
0.00
Shared
6.73M
None
0.00
ISHARES TR
DFNDShares7.46M
TypeSH
Market value$1.84B
3.59%
Sole
0.00
Shared
7.46M
None
0.00
AMAZON COM INC
DFNDShares7.64M
TypeSH
Market value$1.76B
3.45%
Sole
0.00
Shared
7.64M
None
0.00
TESLA INC
DFNDShares3.55M
TypeSH
Market value$1.60B
3.13%
Sole
0.00
Shared
3.55M
None
0.00
APPLE INC
DFNDShares4.90M
TypeSH
Market value$1.33B
2.61%
Sole
0.00
Shared
4.90M
None
0.00
MICROSOFT CORP
DFNDShares2.66M
TypeSH
Market value$1.29B
2.52%
Sole
0.00
Shared
2.66M
None
0.00
ISHARES TR
DFNDShares1.78M
TypeSH
Market value$1.22B
2.39%
Sole
0.00
Shared
1.78M
None
0.00
ALPHABET INC
DFNDShares3.61M
TypeSH
Market value$1.13B
2.22%
Sole
0.00
Shared
3.61M
None
0.00
ADVANCED MICRO DEVICES INC
DFNDShares5.19M
TypeSH
Market value$1.11B
2.17%
Sole
0.00
Shared
5.19M
None
0.00
META PLATFORMS INC
DFNDShares1.29M
TypeSH
Market value$853.89M
1.67%
Sole
0.00
Shared
1.29M
None
0.00
SELECT SECTOR SPDR TR
DFNDShares12.80M
TypeSH
Market value$700.86M
1.37%
Sole
0.00
Shared
12.80M
None
0.00
VANGUARD INDEX FDS
DFNDShares1.04M
TypeSH
Market value$654.60M
1.28%
Sole
0.00
Shared
1.04M
None
0.00
BROADCOM INC
DFNDShares1.82M
TypeSH
Market value$629.90M
1.23%
Sole
0.00
Shared
1.82M
None
0.00
ISHARES TR
DFNDShares14.37M
TypeSH
Market value$550.31M
1.08%
Sole
0.00
Shared
14.37M
None
0.00
ISHARES TR
DFNDShares8.30M
TypeSH
Market value$454.14M
0.89%
Sole
0.00
Shared
8.30M
None
0.00
LUMENTUM HLDGS INC
DFNDShares55.78M
TypePRN
Market value$296.43M
0.58%
Sole
0.00
Shared
55.78M
None
0.00
ISHARES TR
DFNDShares3.66M
TypeSH
Market value$295.17M
0.58%
Sole
0.00
Shared
3.66M
None
0.00
WESTERN DIGITAL CORP
DFNDShares59M
TypePRN
Market value$270.59M
0.53%
Sole
0.00
Shared
59M
None
0.00
ORACLE CORP
DFNDShares1.15M
TypeSH
Market value$224.17M
0.44%
Sole
0.00
Shared
1.15M
None
0.00
WARNER BROS DISCOVERY INC
DFNDShares7.56M
TypeSH
Market value$217.88M
0.43%
Sole
0.00
Shared
7.56M
None
0.00
SPDR SERIES TRUST
DFNDShares1.65M
TypeSH
Market value$208.00M
0.41%
Sole
0.00
Shared
1.65M
None
0.00
KENVUE INC
DFNDShares10.26M
TypeSH
Market value$176.98M
0.35%
Sole
0.00
Shared
10.26M
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRDFND | TR UNIT | 20.86M | SH | $14.22B 27.84% | 0.00 | 20.86M | 0.00 |
INVESCO QQQ TRDFND | UNIT SER 1 | 7.43M | SH | $4.57B 8.94% | 0.00 | 7.43M | 0.00 |
NVIDIA CORPORATIONDFND | COM | 23.20M | SH | $4.33B 8.47% | 0.00 | 23.20M | 0.00 |
ALPHABET INCDFND | CAP STK CL A | 6.73M | SH | $2.11B 4.12% | 0.00 | 6.73M | 0.00 |
ISHARES TRDFND | RUSSELL 2000 ETF | 7.46M | SH | $1.84B 3.59% | 0.00 | 7.46M | 0.00 |
AMAZON COM INCDFND | COM | 7.64M | SH | $1.76B 3.45% | 0.00 | 7.64M | 0.00 |
TESLA INCDFND | COM | 3.55M | SH | $1.60B 3.13% | 0.00 | 3.55M | 0.00 |
APPLE INCDFND | COM | 4.90M | SH | $1.33B 2.61% | 0.00 | 4.90M | 0.00 |
MICROSOFT CORPDFND | COM | 2.66M | SH | $1.29B 2.52% | 0.00 | 2.66M | 0.00 |
ISHARES TRDFND | CORE S&P500 ETF | 1.78M | SH | $1.22B 2.39% | 0.00 | 1.78M | 0.00 |
ALPHABET INCDFND | CAP STK CL C | 3.61M | SH | $1.13B 2.22% | 0.00 | 3.61M | 0.00 |
ADVANCED MICRO DEVICES INCDFND | COM | 5.19M | SH | $1.11B 2.17% | 0.00 | 5.19M | 0.00 |
META PLATFORMS INCDFND | CL A | 1.29M | SH | $853.89M 1.67% | 0.00 | 1.29M | 0.00 |
SELECT SECTOR SPDR TRDFND | STATE STREET FIN | 12.80M | SH | $700.86M 1.37% | 0.00 | 12.80M | 0.00 |
VANGUARD INDEX FDSDFND | S&P 500 ETF SHS | 1.04M | SH | $654.60M 1.28% | 0.00 | 1.04M | 0.00 |
BROADCOM INCDFND | COM | 1.82M | SH | $629.90M 1.23% | 0.00 | 1.82M | 0.00 |
ISHARES TRDFND | CHINA LG-CAP ETF | 14.37M | SH | $550.31M 1.08% | 0.00 | 14.37M | 0.00 |
ISHARES TRDFND | MSCI EMG MKT ETF | 8.30M | SH | $454.14M 0.89% | 0.00 | 8.30M | 0.00 |
LUMENTUM HLDGS INCDFND | NOTE 1.500%12/1 | 55.78M | PRN | $296.43M 0.58% | 0.00 | 55.78M | 0.00 |
ISHARES TRDFND | IBOXX HI YD ETF | 3.66M | SH | $295.17M 0.58% | 0.00 | 3.66M | 0.00 |
WESTERN DIGITAL CORPDFND | NOTE 3.000%11/1 | 59M | PRN | $270.59M 0.53% | 0.00 | 59M | 0.00 |
ORACLE CORPDFND | COM | 1.15M | SH | $224.17M 0.44% | 0.00 | 1.15M | 0.00 |
WARNER BROS DISCOVERY INCDFND | COM SER A | 7.56M | SH | $217.88M 0.43% | 0.00 | 7.56M | 0.00 |
SPDR SERIES TRUSTDFND | STATE STREET SPD | 1.65M | SH | $208.00M 0.41% | 0.00 | 1.65M | 0.00 |
KENVUE INCDFND | COM | 10.26M | SH | $176.98M 0.35% | 0.00 | 10.26M | 0.00 |
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