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Capstone Investment Advisors, LLC
Capstone Investment Advisors, LLC is a global alternative investment management firm headquartered in New York City, United States. Founded in 2007, Capstone specializes in multi-strategy hedge fund management, focusing on volatility, derivatives, and quantitative strategies. The firm serves institutional investors and manages significant market exposure through sophisticated risk management techniques. Capstone employs around 200 professionals across multiple global offices.
Investment Strategy
Capstone Investment Advisors employs a multi-strategy approach, emphasizing relative value, volatility, and derivatives-based strategies across global markets. The firm utilizes quantitative and fundamental techniques to identify market inefficiencies and generate alpha, with notable expertise in options, structured credit, and event-driven trades. Capstone focuses on risk-adjusted returns, robust risk management, and diversification, catering primarily to institutional investors seeking differentiated exposure.
Latest 13F Filing Activity
Capstone Investment Advisors, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 741 equity positions and 717 options positions with a total 13F market value of $40B. The fund increased holdings in Apple Inc., Nvidia Corporation, Advanced Micro Devices Inc. among other positions. Capstone Investment Advisors, LLC reduced exposure to Amazon Com Inc., SPDR S&P 500 Etf TR, Microsoft Corp. among others.
Top Holdings
Equity Positions (741)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 3.71% | $1.50B | 9,480,906 | $116.30 | $157.99 | +$429.3M |
T TSLA | TESLA INC | 3.35% | $1.35B | 4,258,902 | $258.06 | $317.66 | -$47.9M |
A AMZN | AMAZON COM INC | 2.27% | $916.6M | 4,178,107 | $213.92 | $219.39 | -$322.9M |
M MSFT | MICROSOFT CORP | 2.00% | $807.4M | 1,623,182 | $421.56 | $497.41 | -$119.5M |
A AAPL | APPLE INC | 1.94% | $783.2M | 3,817,310 | $214.08 | $205.17 | +$450.1M |
Options Positions (717)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $11.52B | 186,480 | $617.85 | $555.65 | +33,294 | +$2.95B |
N NVDA | NVIDIA CORPORATION | Sold | Put | $2.02B | 127,902 | $157.99 | $78.34 | -1,833 | +$614.7M |
T TSLA | TESLA INC | Bought | Put | $1.69B | 53,261 | $317.66 | $269.91 | +932 | +$335.7M |
M MSFT | MICROSOFT CORP | Sold | Put | $1.12B | 22,459 | $497.41 | $402.26 | -5,426 | +$70.4M |
A AMZN | AMAZON COM INC | Sold | Put | $1.10B | 50,332 | $219.39 | $195.88 | -24,790 | -$325.0M |
Industry Allocation
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