CAPSTONE INVESTMENT ADVISORS, LLC

Est. AUM

$57.41B

13F long equity, this entity only

Positions

1,558

Period

Mar 2026 (Q1)

SEC EDGAR

View filings ↗

Mar 2026 (Q1)

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	STATE STR SPDR S&P 500 ETF TPUT	TR UNIT	$9.99B	15366400	17.41%	DFND
2	INVESCO QQQ TRPUT	UNIT SER 1	$9.73B	16859400	16.95%	DFND
3	INVESCO QQQ TRCALL	UNIT SER 1	$5.63B	9756800	9.81%	DFND
4	AMAZON COM INCPUT	COM	$1.50B	7180600	2.60%	DFND
5	NVIDIA CORPORATIONPUT	COM	$1.43B	8179700	2.48%	DFND
6	MICROSOFT CORPPUT	COM	$1.27B	3420600	2.21%	DFND
7	AMAZON COM INC	COM	$1.20B	5769310	2.09%	DFND
8	MICROSOFT CORP	COM	$1.03B	2773897	1.79%	DFND
9	ISHARES TR	CORE S&P500 ETF	$1.02B	1557834	1.77%	DFND
10	APPLE INCPUT	COM	$877.3M	3456800	1.53%	DFND
11	TESLA INCPUT	COM	$807.0M	2170900	1.41%	DFND
12	LUMENTUM HLDGS INC	NOTE 1.500%12/1	$752.7M	74347000	1.31%	DFND
13	STATE STR SPDR S&P 500 ETF TCALL	TR UNIT	$737.4M	1133800	1.28%	DFND
14	NVIDIA CORPORATION	COM	$700.3M	4015308	1.22%	DFND
15	WESTERN DIGITAL CORP	NOTE 3.000%11/1	$576.5M	80500000	1.00%	DFND
16	ISHARES TRPUT	IBOXX INV CP ETF	$556.8M	5108800	0.97%	DFND
17	TESLA INC	COM	$540.6M	1454100	0.94%	DFND
18	ALPHABET INCPUT	CAP STK CL C	$530.4M	1849100	0.92%	DFND
19	VANGUARD INDEX FDS	S&P 500 ETF SHS	$511.1M	855335	0.89%	DFND
20	ALPHABET INCPUT	CAP STK CL A	$489.8M	1703200	0.85%	DFND
21	ISHARES TRPUT	CHINA LG-CAP ETF	$419.8M	11692800	0.73%	DFND
22	NVIDIA CORPORATIONCALL	COM	$417.7M	2394900	0.73%	DFND
23	ISHARES TRPUT	RUSSELL 2000 ETF	$399.3M	1610000	0.70%	DFND
24	STATE STR SPDR S&P 500 ETF T	TR UNIT	$385.9M	593324	0.67%	DFND
25	ISHARES TRCALL	CHINA LG-CAP ETF	$360.8M	10049600	0.63%	DFND
26	ISHARES TRPUT	IBOXX HI YD ETF	$355.4M	4467200	0.62%	DFND
27	SELECT SECTOR SPDR TRPUT	STATE STREET FIN	$351.7M	7123800	0.61%	DFND
28	AMAZON COM INCCALL	COM	$297.4M	1427800	0.52%	DFND
29	SELECT SECTOR SPDR TRCALL	STATE STREET FIN	$290.0M	5873400	0.51%	DFND
30	META PLATFORMS INCPUT	CL A	$286.6M	501000	0.50%	DFND
31	WARNER BROS DISCOVERY INC	COM SER A	$280.2M	10205000	0.49%	DFND
32	MICROSOFT CORPCALL	COM	$277.7M	750200	0.48%	DFND
33	WARNER BROS DISCOVERY INCPUT	COM SER A	$253.1M	9218800	0.44%	DFND
34	ISHARES TRPUT	MSCI EMG MKT ETF	$252.9M	4453100	0.44%	DFND
35	APPLE INC	COM	$250.3M	986365	0.44%	DFND
36	TESLA INCCALL	COM	$247.9M	666800	0.43%	DFND
37	ALPHABET INC	CAP STK CL C	$240.6M	838609	0.42%	DFND
38	BROADCOM INCPUT	COM	$229.6M	741700	0.40%	DFND
39	NEBIUS GROUP N.V.PUT	SHS CLASS A	$224.2M	2161000	0.39%	DFND
40	APPLE INCCALL	COM	$203.8M	802900	0.35%	DFND
41	ISHARES INCPUT	MSCI BRAZIL ETF	$202.9M	5285200	0.35%	DFND
42	ADVANCED MICRO DEVICES INCPUT	COM	$198.1M	973900	0.35%	DFND
43	ALPHABET INC	CAP STK CL A	$196.7M	684171	0.34%	DFND
44	META PLATFORMS INC	CL A	$194.0M	339072	0.34%	DFND
45	ECHOSTAR CORP	NOTE 3.875%11/3	$187.3M	52388000	0.33%	DFND
46	META PLATFORMS INCCALL	CL A	$176.9M	309200	0.31%	DFND
47	ALPHABET INCCALL	CAP STK CL C	$156.4M	545100	0.27%	DFND
48	EXXON MOBIL CORPPUT	COM	$148.2M	873500	0.26%	DFND
49	ADVANCED MICRO DEVICES INC	COM	$145.6M	715929	0.25%	DFND
50	MICRON TECHNOLOGY INCPUT	COM	$141.3M	418100	0.25%	DFND

1–50 of 1,558

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Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.