CAPSTONE INVESTMENT ADVISORS, LLC
Long book
$9.00B
Q1 2026
Positions
786
Top-10 weight
68%
concentration
Last quarter
+14.3%
SPY +14.8%
Turnover
55%
of book per quarter
Strategy in plain words
auto-generated from filingsCAPSTONE INVESTMENT ADVISORS, LLC is a quantitative fund whose holdings reflect models, not opinions, running a $9.00B US long book across 786 positions.
The portfolio is concentrated: the top 10 names carry 68% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: AMAZON.COM INC, MICROSOFT CORP, ISHARES CORE S&P 500 ETF, NVIDIA CORP, TESLA INC.
Over the last 9 quarters its long book ran on average 1.6pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.6%
Q2 2024
+7.3%
Q3 2024
+2.0%
Q4 2024
-6.8%
Q1 2025
+21.2%
Q2 2025
+16.5%
Q3 2025
+3.7%
Q4 2025
-6.0%
Q1 2026
+14.3%
Sector allocation
Technology 50%
Consumer discretionary 19%
Industrials 14%
Communications 5%
Financials 4%
Other 3%
Services media 2%
Healthcare 1%
Long book by quarter
What does CAPSTONE INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AMZN AMAZON.COM INC | Consumer discretionary | 5.8M | $1.20B | 13.4% | +116.1% |
| MSFT MICROSOFT CORP | Technology | 2.8M | $1.03B | 11.4% | +284.0% |
| NVDA NVIDIA CORP | Technology | 4.0M | $700.3M | 7.8% | -53.2% |
| TSLA TESLA INC | Industrials | 1.5M | $540.6M | 6.0% | +59.1% |
| WBD WARNER BROS DISCOVERY INC | Communications | 10.2M | $280.2M | 3.1% | +172.1% |
| AAPL APPLE INC | Technology | 986.4K | $250.3M | 2.8% | -3.8% |
| GOOG ALPHABET INC-CL C | Technology | 838.6K | $240.6M | 2.7% | -9.9% |
| GOOGL ALPHABET INC-CL A | Technology | 684.2K | $196.7M | 2.2% | -75.2% |
| META META PLATFORMS INC-CLASS A | Technology | 339.1K | $194.0M | 2.2% | -30.7% |
| AMD ADVANCED MICRO DEVICES | Technology | 715.9K | $145.6M | 1.6% | -71.0% |
| ORCL ORACLE CORP | Technology | 884.2K | $130.1M | 1.4% | +76.6% |
| AVGO BROADCOM INC | Technology | 377.9K | $117.0M | 1.3% | -7.0% |
| WBS WEBSTER FINANCIAL CORP | Financials | 849.5K | $59.0M | 0.7% | New |
| GXO GXO LOGISTICS INC | Industrials | 964.5K | $50.0M | 0.6% | -1.1% |
| EA ELECTRONIC ARTS INC | Technology | 235.0K | $47.9M | 0.5% | New |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 320.8K | $46.9M | 0.5% | +472.3% |
| KVUE KENVUE INC | Other | 2.7M | $45.9M | 0.5% | -47.6% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 151.7K | $36.8M | 0.4% | +3520.1% |
| AA ALCOA CORP | Industrials | 543.7K | $36.1M | 0.4% | New |
| KEX KIRBY CORP | Industrials | 263.6K | $35.0M | 0.4% | -26.4% |
| GTLS CHART INDUSTRIES INC | Industrials | 163.0K | $33.7M | 0.4% | New |
| J JACOBS SOLUTIONS INC | Industrials | 250.0K | $31.8M | 0.4% | -0.3% |
| KBR KBR INC | Industrials | 719.4K | $26.5M | 0.3% | -8.2% |
| UBER UBER TECHNOLOGIES INC | Services media | 310.0K | $22.3M | 0.2% | +74.3% |
| LULU LULULEMON ATHLETICA INC | Other | 144.3K | $22.1M | 0.2% | +113.0% |
| FLR FLUOR CORP | Industrials | 471.9K | $22.0M | 0.2% | -21.3% |
| ADBE ADOBE INC | Technology | 84.7K | $20.6M | 0.2% | +141.7% |
| MA MASTERCARD INC - A | Services media | 40.3K | $20.2M | 0.2% | +95.2% |
| RS RELIANCE INC | Consumer discretionary | 61.6K | $18.7M | 0.2% | New |
| MU MICRON TECHNOLOGY INC | Technology | 53.4K | $18.0M | 0.2% | +600.9% |
| CME CME GROUP INC | Financials | 60.6K | $17.9M | 0.2% | +1.0% |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 256.1K | $17.7M | 0.2% | +535.1% |
| CRWV COREWEAVE INC-CL A | Technology | 227.1K | $17.6M | 0.2% | +28.7% |
| CEG CONSTELLATION ENERGY | Utilities | 60.5K | $16.9M | 0.2% | +628.3% |
| PANW PALO ALTO NETWORKS INC | Technology | 103.8K | $16.6M | 0.2% | +300.0% |
| EXPD EXPEDITORS INTL WASH INC | Industrials | 111.2K | $15.9M | 0.2% | New |
| WLK WESTLAKE CORP | Other | 135.8K | $15.9M | 0.2% | +4254.2% |
| VST VISTRA CORP | Utilities | 104.5K | $15.7M | 0.2% | +75.5% |
| JPM JPMORGAN CHASE & CO | Financials | 50.4K | $14.8M | 0.2% | +6408.9% |
| QCOM QUALCOMM INC | Technology | 115.1K | $14.8M | 0.2% | +309.9% |
| BX BLACKSTONE INC | Financials | 125.9K | $14.5M | 0.2% | +143.3% |
| FLS FLOWSERVE CORP | Industrials | 196.1K | $14.4M | 0.2% | -71.6% |
| BA BOEING CO/THE | Industrials | 71.0K | $14.1M | 0.2% | +530.4% |
| CL COLGATE-PALMOLIVE CO | Other | 165.1K | $14.1M | 0.2% | +318.4% |
| CTRA COTERRA ENERGY INC | — | 389.8K | $13.7M | 0.2% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 27.1K | $13.0M | 0.1% | New |
| KKR KKR & CO INC | Financials | 138.3K | $12.8M | 0.1% | +267.0% |
| V VISA INC-CLASS A SHARES | Services media | 41.2K | $12.4M | 0.1% | New |
| BAC BANK OF AMERICA CORP | Financials | 242.9K | $11.8M | 0.1% | +866.9% |
| FOX FOX CORP - CLASS B | Communications | 200.0K | $10.6M | 0.1% | -81.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 1558 | $57.41B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 1530 | $51.09B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 1889 | $53.72B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 1556 | $40.39B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 1317 | $37.83B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 1824 | $41.41B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 1886 | $32.86B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 2031 | $31.92B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 1, 2024 | 2306 | $23.47B | canonical | SEC ↗ |
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