Capstone Investment Advisors, Llc Portfolio Stock Holdings

Capstone Investment Advisors, Llc disclosed 856 stock positions valued at approximately $12.1 billion in its latest SEC 13F filing. The largest holdings include AMAZON COM INC, MICROSOFT CORP, and ISHARES TR. The filing reflects positions held as of March 31, 2026 and was filed on May 15, 2026.

Report Period
March 31, 2026
No. of Stocks
856
Portfolio Value
$12.1B
Holdings by Sector
Capstone Investment Advisors, Llc Portfolio Holdings in Q1 2026

760 holdings in the latest reporting period.

Page 1 of 8
CompanySymbolSectorPortfolio %SharesChange (Shares)Change %Value
AMAZON COM INCAMZNConsumer Cyclical9.91%5,769,310+3,100,042+116.14%$1,201,574,194
MICROSOFT CORPMSFTTechnology8.47%2,773,897+2,051,565+284.02%$1,026,813,452
ISHARES TRIVVOther8.40%1,557,834-223,106-12.53%$1,017,592,747
NVIDIA CORPORATIONNVDATechnology5.78%4,015,308-4,562,393-53.19%$700,269,715
TESLA INCTSLAConsumer Cyclical4.46%1,454,100+540,313+59.13%$540,561,675
VANGUARD INDEX FDSVOOOther4.22%855,335+25,440+3.07%$511,105,429
STATE STR SPDR S&P 500 ETF TSPYOther3.18%593,324+421,644+245.60%$385,862,330
WARNER BROS DISCOVERY INCWBDCommunication Services2.31%10,205,000+6,455,000+172.13%$280,229,300
APPLE INCAAPLTechnology2.07%986,365-38,524-3.76%$250,329,573
ALPHABET INCGOOGCommunication Services1.99%838,609-92,304-9.92%$240,563,378
ALPHABET INCGOOGLCommunication Services1.62%684,171-2,076,300-75.22%$196,740,213
META PLATFORMS INCMETACommunication Services1.60%339,072-150,023-30.67%$193,993,263
ADVANCED MICRO DEVICES INCAMDTechnology1.20%715,929-1,751,707-70.99%$145,641,436
ORACLE CORPORCLTechnology1.07%884,183+383,465+76.58%$130,072,161
BROADCOM INCAVGOTechnology0.97%377,895-28,300-6.97%$116,962,281
SELECT SECTOR SPDR TRXLEOther0.59%1,163,460-34,108-2.85%$71,273,560
WEBSTER FINL CORPWBSFinancial Services0.49%849,500+849,500+100.00%$58,972,290
GXO LOGISTICS INCORPORATEDGXOIndustrials0.41%964,467-10,828-1.11%$50,007,614
ELECTRONIC ARTS INCEACommunication Services0.40%235,000+235,000+100.00%$47,909,450
PALANTIR TECHNOLOGIES INCPLTRTechnology0.39%320,818+264,762+472.32%$46,929,257
KENVUE INCKVUEConsumer Defensive0.38%2,664,593-2,424,172-47.64%$45,937,583
ISHARES TREEMOther0.34%728,967-42,196-5.47%$41,398,036
ISHARES TRFXIOther0.31%1,046,789+1,005,465+2433.13%$37,579,726
INTERNATIONAL BUSINESS MACHSIBMTechnology0.30%151,717+147,526+3520.07%$36,774,684
ALCOA CORPAABasic Materials0.30%543,665+543,665+100.00%$36,061,299
KIRBY CORPKEXIndustrials0.29%263,609-94,731-26.44%$35,028,364
CHART INDS INCGTLSIndustrials0.28%163,000+163,000+100.00%$33,700,250
JACOBS SOLUTIONS INCJIndustrials0.26%249,968-682-0.27%$31,815,927
KBR INCKBRIndustrials0.22%719,413-64,020-8.17%$26,517,563
SPDR SERIES TRUSTKREOther0.20%381,043+126,642+49.78%$24,824,951
UBER TECHNOLOGIES INCUBERTechnology0.18%310,031+132,208+74.35%$22,300,530
LULULEMON ATHLETICA INCLULUConsumer Cyclical0.18%144,317+76,563+113.00%$22,094,933
FLUOR CORPFLRIndustrials0.18%471,937-127,422-21.26%$22,015,861
ADOBE INCADBETechnology0.17%84,715+49,670+141.73%$20,592,522
MASTERCARD INCORPORATEDMAFinancial Services0.17%40,342+19,677+95.22%$20,157,284
RELIANCE INCRSBasic Materials0.15%61,560+61,560+100.00%$18,709,315
INVESCO QQQ TRQQQOther0.15%31,488+28,916+1124.26%$18,174,244
MICRON TECHNOLOGY INCMUTechnology0.15%53,392+45,774+600.87%$18,037,953
CME GROUP INCCMEFinancial Services0.15%60,620+620+1.03%$17,904,117
ROBINHOOD MKTS INCHOODFinancial Services0.15%256,054+215,735+535.07%$17,744,542
CONSTELLATION ENERGY CORPCEGUtilities0.14%60,485+52,180+628.30%$16,890,436
PALO ALTO NETWORKS INCPANWTechnology0.14%103,791+77,841+299.97%$16,639,773
CLEARWATER ANALYTICS HLDGS ICWANTechnology0.14%700,000+700,000+100.00%$16,555,000
TAIWAN SEMICONDUCTOR MANUFACTSMTechnology0.13%47,648-152,016-76.14%$16,102,642
EXPEDITORS INTL WASH INCEXPDIndustrials0.13%111,151+111,151+100.00%$15,920,158
WESTLAKE CORPORATIONWLKBasic Materials0.13%135,808+132,689+4254.22%$15,865,091
VISTRA CORPVSTUtilities0.13%104,493+44,939+75.46%$15,708,433
JPMORGAN CHASE & COJPMFinancial Services0.12%50,444+49,669+6408.90%$14,838,607
QUALCOMM INCQCOMTechnology0.12%115,081+87,004+309.88%$14,820,131
ISHARES TREFAOther0.12%149,910+149,910+100.00%$14,560,758
BLACKSTONE INCBXFinancial Services0.12%125,947+74,190+143.34%$14,482,646
FLOWSERVE CORPFLSIndustrials0.12%196,075-494,000-71.59%$14,413,473
BOEING COBAIndustrials0.12%71,006+59,743+530.44%$14,132,324
COLGATE PALMOLIVE COCLConsumer Defensive0.12%165,075+125,624+318.43%$14,069,342
COTERRA ENERGY INCCTRAEnergy0.11%389,819+389,819+100.00%$13,698,240
SELECT SECTOR SPDR TRXLKOther0.11%101,046+53,187+111.13%$13,429,013
BERKSHIRE HATHAWAY INC DELBRK-BFinancial Services0.11%27,107+27,107+100.00%$12,989,674
KKR & CO INCKKRFinancial Services0.11%138,291+100,605+266.96%$12,791,918
VISA INCVFinancial Services0.10%41,189+41,189+100.00%$12,448,963
BANK AMERICA CORPBACFinancial Services0.10%242,897+217,777+866.95%$11,841,229
FOX CORPFOXCommunication Services0.09%200,000-900,001-81.82%$10,620,000
APOLLO GLOBAL MGMT INCAPOFinancial Services0.09%92,743+75,095+425.52%$10,333,425
LYONDELLBASELL INDUSTRIES NVLYBOther0.08%125,400+106,076+548.93%$10,102,224
APELLIS PHARMACEUTICALS INCAPLSHealthcare0.08%250,000+250,000+100.00%$10,057,500
COINBASE GLOBAL INCCOINFinancial Services0.08%56,458+16,354+40.78%$9,858,131
STARBUCKS CORPSBUXConsumer Cyclical0.08%109,993+53,212+93.71%$9,854,273
NETFLIX INC.NFLXCommunication Services0.08%102,385-385,253-79.00%$9,844,318
SERVICENOW INCNOWTechnology0.08%94,119+73,115+348.10%$9,840,141
INTEL CORPINTCTechnology0.08%221,755+80,875+57.41%$9,786,048
VALARIS LTDVALEnergy0.08%99,643+99,643+100.00%$9,769,000
CAPITAL ONE FINL CORPCOFFinancial Services0.08%51,848+51,848+100.00%$9,458,631
WELLS FARGO & COWFCFinancial Services0.08%116,357+100,567+636.90%$9,263,181
PHILIP MORRIS INTL INCPMConsumer Defensive0.08%55,613+55,613+100.00%$9,195,053
ISHARES INCEWYOther0.08%74,678+70,279+1597.61%$9,186,141
AECOMACMIndustrials0.07%100,146+100,146+100.00%$8,494,384
ABBOTT LABORATORIESABTHealthcare0.07%80,259+58,866+275.16%$8,240,192
INTUITINTUTechnology0.07%18,949+13,598+254.12%$8,193,169
HOLOGIC INCHOLXHealthcare0.07%108,000-228,740-67.93%$8,163,720
STRATEGY INCMSTRTechnology0.07%63,394+10,186+19.14%$7,911,571
MARVELL TECHNOLOGY INCMRVLTechnology0.06%76,197-58,475-43.42%$7,547,313
SPDR SERIES TRUSTXBIOther0.06%57,915+7,864+15.71%$7,397,483
GABELLI DIVID & INCOME TRXGDVXOther0.06%262,242--$7,062,177
MONSTER BEVERAGE CORP NEWMNSTConsumer Defensive0.06%97,305+63,377+186.80%$7,050,720
PROCTER & GAMBLE COPGConsumer Defensive0.06%48,355+19,959+70.29%$6,984,396
VIRTUS DIVIDEND INTEREST & PNFJFinancial Services0.05%526,672--$6,641,334
NEUBERGER NEXT GENERATIONNBXGOther0.05%488,681+10,933+2.29%$6,289,324
RTX CORPORATIONRTXIndustrials0.05%31,403+29,365+1440.87%$6,057,639
HOME DEPOT INCHDConsumer Cyclical0.05%18,365-1,666-8.32%$6,040,065
CHIPOTLE MEXICAN GRILL INCCMGConsumer Cyclical0.05%183,695-179-0.10%$5,880,077
BRITISH AMERN TOB PLCBTIConsumer Defensive0.05%96,000+96,000+100.00%$5,613,120
GOLDMAN SACHS GROUP INCGSFinancial Services0.04%6,443+3,737+138.10%$5,450,714
HOWMET AEROSPACE INCHWMIndustrials0.04%23,495+23,495+100.00%$5,414,658
S&P GLOBAL INCSPGIFinancial Services0.04%12,401+10,344+502.87%$5,274,641
L3HARRIS TECHNOLOGIES INCLHXIndustrials0.04%15,249+13,031+587.51%$5,263,192
TECK RESOURCES LTDTECKBasic Materials0.04%100,000+100,000+100.00%$5,175,000
ANHEUSER BUSCH INBEV SA NVBUDConsumer Defensive0.04%74,000+74,000+100.00%$5,133,380
DAY ONE BIOPHARMACEUTICALS IDAWNHealthcare0.04%236,000+236,000+100.00%$5,059,840
PAYPAL HLDGS INCPYPLFinancial Services0.04%111,551+58,020+108.39%$5,045,452
DIGITALBRIDGE GROUP INCDBRGReal Estate0.04%325,000+325,000+100.00%$5,011,500
3M COMMMIndustrials0.04%34,036+17,198+102.14%$4,943,048
Capstone Investment Advisors, Llc Options Holdings in Q1 2026

695 options positions in the latest reporting period.

Page 1 of 7
QuarterSymbolCompanyOptionContractsNotional Value
Q1 2026SPYSPDR S&P 500PUT15,366,400$9,993,384,576
Q1 2026QQQInvesco QQQ Trust, Series 1PUT16,859,400$9,730,908,488
Q1 2026QQQInvesco QQQ Trust, Series 1CALL9,756,800$5,631,429,824
Q1 2026AMZNAmazon.com, Inc.PUT7,180,600$1,495,503,562
Q1 2026NVDANVIDIA CorporationPUT8,179,700$1,426,539,680
Q1 2026MSFTMicrosoft CorporationPUT3,420,600$1,266,203,502
Q1 2026AAPLApple Inc.PUT3,456,800$877,301,272
Q1 2026TSLATesla, Inc.PUT2,170,900$807,032,075
Q1 2026SPYSPDR S&P 500CALL1,133,800$737,355,492
Q1 2026LQDiShares iBoxx $ Investment GradPUT5,108,800$556,808,112
Q1 2026GOOGAlphabet Inc.PUT1,849,100$530,432,826
Q1 2026GOOGLAlphabet Inc.PUT1,703,200$489,772,192
Q1 2026FXIiShares China Large-Cap ETFPUT11,692,800$419,771,528
Q1 2026NVDANVIDIA CorporationCALL2,394,900$417,670,560
Q1 2026IWMiShares Russell 2000 ETFPUT1,610,000$399,280,000
Q1 2026FXIiShares China Large-Cap ETFCALL10,049,600$360,780,647
Q1 2026HYGiShares iBoxx $ High Yield CorpPUT4,467,200$355,410,432
Q1 2026XLFSPDR Select Sector Fund - FinanPUT7,123,800$351,702,003
Q1 2026AMZNAmazon.com, Inc.CALL1,427,800$297,367,906
Q1 2026XLFSPDR Select Sector Fund - FinanCALL5,873,400$289,969,756
Q1 2026METAMeta Platforms, Inc.PUT501,000$286,637,130
Q1 2026MSFTMicrosoft CorporationCALL750,200$277,701,534
Q1 2026WBDWarner Bros. Discovery, Inc. - PUT9,218,800$253,148,248
Q1 2026EEMiShares MSCI Emerging Index FunPUT4,453,100$252,891,548
Q1 2026TSLATesla, Inc.CALL666,800$247,882,900
Q1 2026AVGOBroadcom Inc.PUT741,700$229,563,567
Q1 2026NBISNebius GroupPUT2,161,000$224,225,360
Q1 2026AAPLApple Inc.CALL802,900$203,767,991
Q1 2026EWZiShares Inc iShares MSCI BrazilPUT5,285,200$202,898,827
Q1 2026AMDAdvanced Micro Devices, Inc.PUT973,900$198,120,477
Q1 2026METAMeta Platforms, Inc.CALL309,200$176,902,596
Q1 2026GOOGAlphabet Inc.CALL545,100$156,367,386
Q1 2026XOMExxon Mobil CorporationPUT873,500$148,198,010
Q1 2026MUMicron Technology, Inc.PUT418,100$141,250,904
Q1 2026IBITiShares Bitcoin Trust ETFPUT3,570,000$137,159,400
Q1 2026XOPSPDR S&P Oil & Gas Explor & ProPUT727,100$132,208,593
Q1 2026JPMJP Morgan Chase & Co.PUT423,300$124,517,928
Q1 2026BRK-BBerkshire Hathaway Inc. NewPUT244,500$117,164,400
Q1 2026EFAiShares MSCI EAFE ETFCALL1,169,200$113,564,396
Q1 2026PLTRPalantir Technologies Inc.PUT731,700$107,033,076
Q1 2026AVGOBroadcom Inc.CALL308,300$95,421,933
Q1 2026LLYEli Lilly and CompanyPUT95,300$87,654,081
Q1 2026JNJJohnson & JohnsonPUT355,700$86,947,308
Q1 2026INTCIntel CorporationPUT1,808,200$79,795,866
Q1 2026EFAiShares MSCI EAFE ETFPUT794,700$77,189,211
Q1 2026GOOGLAlphabet Inc.CALL250,500$72,033,780
Q1 2026NFLXNetflix, Inc.PUT744,200$71,554,830
Q1 2026WMTWalmart Inc.PUT571,400$71,013,592
Q1 2026CVXChevron CorporationPUT343,000$70,966,700
Q1 2026BACBank of America CorporationPUT1,398,500$68,176,875
Q1 2026IBMInternational Business MachinesPUT233,200$56,525,348
Q1 2026VVisa Inc.PUT184,800$55,853,952
Q1 2026AMATApplied Materials, Inc.PUT150,200$51,336,858
Q1 2026ORCLOracle CorporationPUT348,800$51,311,968
Q1 2026CCitigroup, Inc.PUT447,600$50,762,316
Q1 2026IWMiShares Russell 2000 ETFCALL202,900$50,319,200
Q1 2026CATCaterpillar, Inc.PUT70,700$50,088,122
Q1 2026PGProcter & Gamble Company (The)PUT333,500$48,170,740
Q1 2026VVisa Inc.CALL159,200$48,116,608
Q1 2026MRKMerck & Company, Inc.PUT397,200$47,779,188
Q1 2026BMYBristol-Myers Squibb CompanyPUT767,000$46,518,550
Q1 2026MAMastercard IncorporatedPUT89,900$44,919,434
Q1 2026LRCXLam ResearchPUT207,100$44,248,986
Q1 2026WFCWells Fargo & CompanyPUT545,900$43,459,099
Q1 2026RTXRTX CorporationPUT221,500$42,727,350
Q1 2026GSGoldman Sachs Group, Inc. (The)PUT49,500$41,876,505
Q1 2026COSTCostco Wholesale CorporationPUT41,200$41,052,916
Q1 2026COSTCostco Wholesale CorporationCALL40,600$40,455,058
Q1 2026ABBVAbbVie Inc.PUT181,200$39,409,188
Q1 2026PANWPalo Alto Networks, Inc.PUT245,700$39,390,624
Q1 2026GEVGE Vernova Inc.PUT44,000$38,407,600
Q1 2026HDHome Depot, Inc. (The)PUT111,700$36,737,013
Q1 2026WMTWalmart Inc.CALL292,400$36,339,472
Q1 2026CRMSalesforce, Inc.CALL192,900$36,008,643
Q1 2026FDXFedEx CorporationPUT96,300$34,300,134
Q1 2026MSMorgan StanleyPUT203,500$33,489,995
Q1 2026CRMSalesforce, Inc.PUT178,500$33,320,595
Q1 2026NEENextEra Energy, Inc.PUT353,000$32,786,640
Q1 2026KOCoca-Cola Company (The)PUT427,900$32,541,795
Q1 2026PEPPepsico, Inc.PUT206,100$32,005,269
Q1 2026ADBEAdobe Inc.PUT129,200$31,405,936
Q1 2026VZVerizon Communications Inc.PUT621,400$31,194,280
Q1 2026LINLindePUT59,200$29,348,992
Q1 2026LULUlululemon athletica inc.PUT188,300$28,828,730
Q1 2026XOMExxon Mobil CorporationCALL168,100$28,519,846
Q1 2026CSCOCisco Systems, Inc.PUT365,600$28,366,904
Q1 2026UBERUber Technologies, Inc.PUT391,200$28,139,016
Q1 2026BACBank of America CorporationCALL574,000$27,982,500
Q1 2026GEGE AerospacePUT98,600$27,979,722
Q1 2026JPMJP Morgan Chase & Co.CALL95,100$27,974,616
Q1 2026QCOMQUALCOMM IncorporatedPUT214,500$27,623,310
Q1 2026UNHUnitedHealth Group IncorporatedPUT101,100$27,356,649
Q1 2026NOWServiceNow, Inc.PUT260,200$27,203,910
Q1 2026NFLXNetflix, Inc.CALL263,700$25,354,755
Q1 2026ORCLOracle CorporationCALL171,200$25,185,232
Q1 2026PMPhilip Morris International IncPUT149,100$24,652,194
Q1 2026TAT&T Inc.PUT837,300$24,273,327
Q1 2026COPConocoPhillipsPUT180,100$23,773,200
Q1 2026BRK-BBerkshire Hathaway Inc. NewCALL46,500$22,282,800
Q1 2026NKENike, Inc.CALL419,000$22,131,580

Notional value represents the total exposure of the options position.