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CAPSTONE INVESTMENT ADVISORS, LLC
Period ended Jun 30, 2026 · Latest filing Aug 17, 2026
These quarterly holdings are delayed and may not include all assets or short positions.
Values are from the reporting date, not current prices or purchase costs.
The same security may appear in multiple rows.
Source: SEC
Reported portfolio value
Quarter-end reported holdings; not current value or investment performance.
View reported values
- Jun 30, 2026: $54,040,010,271
More quarters will appear as history becomes available.
Top holdings
Top 10 at Jun 30, 2026. Matching entries are combined; security classes and options remain separate. Shares exclude principal amounts; option shares reflect the reported underlying amount.
View top holdings values
- STATE STR SPDR S&P 500 ETF T · TR UNIT · 78462F103 · shares · PUT: $6,974,682,446
- INVESCO QQQ TR · UNIT SER 1 · 46090E103 · shares · PUT: $5,769,325,800
- NVIDIA CORPORATION · COM · 67066G104 · shares · PUT: $2,259,196,181
- INVESCO QQQ TR · UNIT SER 1 · 46090E103 · shares · CALL: $2,054,850,560
- MICROSOFT CORP · COM · 594918104 · shares · PUT: $1,792,696,818
- MICROSOFT CORP · COM · 594918104 · shares: $1,605,198,688
- NVIDIA CORPORATION · COM · 67066G104 · shares: $1,374,571,679
- WESTERN DIGITAL CORP · NOTE 3.000%11/1 · 958102AT2 · principal: $1,356,378,578
- APPLE INC · COM · 037833100 · shares · PUT: $1,212,389,464
- ISHARES TR · CORE S&P500 ETF · 464287200 · shares: $1,169,847,060
Reported holdings
1,641 reported entries| Issuer | Class | CUSIP | Type | Shares / principal | Reported value (USD) |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | TR UNIT | 78462F103 | PUT | 9,339,800 shares | $6,974,682,446 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | PUT | 7,834,500 shares | $5,769,325,800 |
| NVIDIA CORPORATION | COM | 67066G104 | PUT | 11,290,900 shares | $2,259,196,181 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | CALL | 2,790,400 shares | $2,054,850,560 |
| MICROSOFT CORP | COM | 594918104 | PUT | 4,805,900 shares | $1,792,696,818 |
| MICROSOFT CORP | COM | 594918104 | — | 4,303,251 shares | $1,605,198,688 |
| NVIDIA CORPORATION | COM | 67066G104 | — | 6,869,767 shares | $1,374,571,679 |
| WESTERN DIGITAL CORP | NOTE 3.000%11/1 | 958102AT2 | — | 80,500,000 principal | $1,356,378,578 |
| APPLE INC | COM | 037833100 | PUT | 4,189,900 shares | $1,212,389,464 |
| ISHARES TR | CORE S&P500 ETF | 464287200 | — | 1,562,108 shares | $1,169,847,060 |
| AMAZON COM INC | COM | 023135106 | PUT | 4,448,000 shares | $1,060,136,320 |
| TESLA INC | COM | 88160R101 | PUT | 2,103,800 shares | $884,858,280 |
| AMAZON COM INC | COM | 023135106 | — | 3,089,477 shares | $736,345,948 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 | PUT | 6,247,500 shares | $681,414,823 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | CALL | 2,240,000 shares | $673,008,000 |
| STATE STR SPDR S&P 500 ETF T | TR UNIT | 78462F103 | CALL | 890,400 shares | $664,924,008 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 | PUT | 2,255,500 shares | $622,901,439 |
| MICRON TECHNOLOGY INC | COM | 595112103 | PUT | 521,200 shares | $601,615,948 |
| VANGUARD INDEX FDS | S&P 500 ETF SHS | 922908363 | — | 857,924 shares | $589,230,782 |
| TESLA INC | COM | 88160R101 | — | 1,322,989 shares | $556,449,173 |
| SELECT SECTOR SPDR TR | ST STR FINL ETF | 81369Y605 | CALL | 9,931,500 shares | $532,427,718 |
| ALPHABET INC | CAP STK CL C | 02079K107 | PUT | 1,477,300 shares | $521,974,409 |
| ALPHABET INC | CAP STK CL A | 02079K305 | PUT | 1,323,100 shares | $472,836,247 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | PUT | 13,429,700 shares | $424,244,225 |
| META PLATFORMS INC | CL A | 30303M102 | PUT | 682,600 shares | $384,501,754 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | CALL | 11,572,200 shares | $365,565,800 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | PUT | 611,100 shares | $354,994,101 |
| APPLE INC | COM | 037833100 | CALL | 1,224,700 shares | $354,379,192 |
| META PLATFORMS INC | CL A | 30303M102 | — | 594,871 shares | $335,084,886 |
| NVIDIA CORPORATION | COM | 67066G104 | CALL | 1,580,500 shares | $316,242,245 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | — | 426,945 shares | $314,402,298 |
| BROADCOM INC | COM | 11135F101 | PUT | 828,800 shares | $313,079,200 |
| SELECT SECTOR SPDR TR | ST STR FINL ETF | 81369Y605 | PUT | 5,377,900 shares | $288,309,221 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | PUT | 3,552,400 shares | $284,085,428 |
| INTEL CORP | COM | 458140100 | PUT | 2,028,900 shares | $283,295,307 |
| APPLE INC | COM | 037833100 | — | 934,697 shares | $270,463,924 |
| MICRON TECHNOLOGY INC | COM | 595112103 | — | 230,359 shares | $265,901,090 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | PUT | 485,900 shares | $243,139,501 |
| TESLA INC | COM | 88160R101 | CALL | 552,100 shares | $232,213,260 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 | PUT | 3,151,700 shares | $215,607,797 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 | PUT | 326,500 shares | $214,148,085 |
| ECHOSTAR CORP | NOTE 3.875%11/3 | 278768AB2 | — | 65,588,000 principal | $204,962,501 |
| NOKIA CORP | SPONSORED ADR | 654902204 | — | 14,595,379 shares | $193,826,633 |
| SPDR SERIES TRUST | ST STR SP REGBNK | 78464A698 | CALL | 2,585,000 shares | $193,487,250 |
| NOKIA CORP | SPONSORED ADR | 654902204 | PUT | 14,550,000 shares | $193,224,000 |
| SPDR SERIES TRUST | ST STR SP REGBNK | 78464A698 | PUT | 2,562,100 shares | $191,773,185 |
| AMAZON COM INC | COM | 023135106 | CALL | 781,800 shares | $186,334,212 |
| ORACLE CORP | COM | 68389X105 | — | 1,217,291 shares | $178,393,996 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | PUT | 570,000 shares | $171,256,500 |
| BROADCOM INC | COM | 11135F101 | — | 448,295 shares | $169,343,436 |
| JPMORGAN CHASE & CO | COM | 46625H100 | PUT | 502,800 shares | $164,581,524 |
| MICROSOFT CORP | COM | 594918104 | CALL | 423,500 shares | $157,973,970 |
| APPLIED MATLS INC | COM | 038222105 | PUT | 202,200 shares | $146,190,600 |
| SPACE EXPLORATION TECHN CORP | CLASS A COM STK | 84615Q103 | — | 812,500 shares | $138,823,750 |
| ELI LILLY & CO | COM | 532457108 | PUT | 115,300 shares | $138,294,279 |
| SANDISK CORP | COM | 80004C200 | PUT | 58,800 shares | $133,695,324 |
| INTERDIGITAL INC | NOTE 3.500% 6/0 | 45867GAD3 | — | 34,886,000 principal | $127,717,647 |
| BRIDGEBIO PHARMA INC | NOTE 2.500% 3/1 | 10806XAB8 | — | 69,872,000 principal | $124,494,436 |
| ALPHABET INC | CAP STK CL C | 02079K107 | CALL | 350,900 shares | $123,983,497 |
| EXXON MOBIL CORP | COM | 30231G102 | PUT | 895,200 shares | $122,391,744 |
| META PLATFORMS INC | CL A | 30303M102 | CALL | 216,800 shares | $122,121,272 |
| STRATEGY INC | CL A NEW | 594972408 | PUT | 1,372,100 shares | $119,276,653 |
| LAM RESEARCH CORP | COM NEW | 512807306 | PUT | 266,200 shares | $115,352,446 |
| STRATEGY INC | CL A NEW | 594972408 | — | 1,298,361 shares | $112,866,522 |
| BROADCOM INC | COM | 11135F101 | CALL | 289,000 shares | $109,169,750 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | — | 925,130 shares | $107,934,917 |
| ALPHABET INC | CAP STK CL A | 02079K305 | CALL | 297,100 shares | $106,174,627 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | PUT | 3,020,000 shares | $100,535,800 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | — | 197,358 shares | $98,755,970 |
| ALPHABET INC | CAP STK CL C | 02079K107 | — | 271,923 shares | $96,078,554 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | — | 3,405,000 shares | $90,777,300 |
| JOHNSON & JOHNSON | COM | 478160104 | PUT | 354,700 shares | $90,083,159 |
| CATERPILLAR INC | COM | 149123101 | PUT | 84,300 shares | $89,771,070 |
| ORACLE CORP | COM | 68389X105 | PUT | 598,900 shares | $87,768,795 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | PUT | 742,000 shares | $86,569,140 |
| CLOUDFLARE INC | NOTE 8/1 | 18915MAC1 | — | 67,000,000 principal | $86,222,301 |
| CHEFS WHSE INC | NOTE 2.375%12/1 | 163086AE1 | — | 35,636,000 principal | $79,756,932 |
| CISCO SYS INC | COM | 17275R102 | PUT | 659,300 shares | $77,441,378 |
| CHART INDS INC | COM | 16115Q308 | — | 370,000 shares | $77,307,800 |
| PALO ALTO NETWORKS INC | COM | 697435105 | PUT | 224,800 shares | $76,661,296 |
| BANK OF AMER CORP | COM | 060505104 | PUT | 1,342,800 shares | $76,512,744 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | PUT | 75,300 shares | $76,156,161 |
| STATE STR SPDR S&P 500 ETF T | TR UNIT | 78462F103 | — | 101,328 shares | $75,668,711 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | — | 773,268 shares | $74,218,263 |
| WEBSTER FINL CORP | COM | 947890109 | — | 935,000 shares | $71,452,700 |
| LIVE NATION ENTERTAINMENT IN | NOTE 3.125% 1/1 | 538034BA6 | — | 40,000,000 principal | $71,360,000 |
| VISA INC | COM CL A | 92826C839 | PUT | 204,100 shares | $70,024,669 |
| WALMART INC | COM | 931142103 | PUT | 615,300 shares | $69,688,878 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | — | 2,201,127 shares | $69,533,601 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | PUT | 720,000 shares | $69,105,600 |
| KENVUE INC | COM | 49177J102 | — | 3,599,857 shares | $68,793,267 |
| MIRUM PHARMACEUTICALS INC | NOTE 4.000% 5/0 | 604749AB7 | — | 18,448,000 principal | $68,303,720 |
| GE VERNOVA INC | COM | 36828A101 | PUT | 57,600 shares | $67,671,936 |
| CITIGROUP INC | COM NEW | 172967424 | PUT | 477,400 shares | $66,816,904 |
| AKAMAI TECHNOLOGIES INC | NOTE 0.250% 5/1 | 00971TAQ4 | — | 45,000,000 principal | $65,733,756 |
| PROCTER & GAMBLE CO | COM | 742718109 | PUT | 447,800 shares | $65,665,392 |
| CHEVRON CORPORATION | COM | 166764100 | PUT | 393,200 shares | $65,176,832 |
| MARVELL TECHNOLOGY INC | COM | 573874104 | PUT | 217,500 shares | $64,791,075 |
| XERIS BIOPHARMA HOLDINGS INC | NOTE 8.000% 7/1 | 98422EAB9 | — | 23,074,000 principal | $62,636,680 |
| SELECT SECTOR SPDR TR | ST STR ENERG ETF | 81369Y506 | — | 1,164,746 shares | $61,859,660 |