1y return+27.5%S&P 500 +20.9%
3y return+83.1%S&P 500 +68.5%
5y return+79.4%S&P 500 +74.5%
10y return+273.8%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $374 against $357 in the S&P 500.2
Capstone Investment Advisors, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| MSFTMicrosoft Corp | $1.6B | 14.7% | +55.1% |
| NVDANvidia Corporation | $1.4B | 12.6% | +71.1% |
| IVVIshares Tr | $1.2B | 10.7% | |
| AMZNAmazon Com Inc | $736.3M | 6.7% | −46.4% |
| VOOVanguard Index Fds | $589.2M | 5.4% | |
| TSLATesla Inc | $556.4M | 5.1% | −9.0% |
| METAMeta Platforms Inc | $335.1M | 3.1% | +75.4% |
| QQQInvesco Qqq Tr | $314.4M | 2.9% | +1255.9% |
| AAPLApple Inc | $270.5M | 2.5% | −5.2% |
| MUMicron Technology Inc | $265.9M | 2.4% | +331.4% |
| NOKNokia Corp | $193.8M | 1.8% | New |
| ORCLOracle Corp | $178.4M | 1.6% | +37.7% |
| AVGOBroadcom Inc | $169.3M | 1.5% | +18.6% |
| SPCXSpace Exploration Techn Corp | $138.8M | 1.3% | New |
| MSTRStrategy Inc | $112.9M | 1.0% | +1948.1% |
| PLTRPalantir Technologies Inc | $107.9M | 1.0% | +188.4% |
| BRK/BBerkshire Hathaway Inc Del | $98.8M | 0.9% | +628.1% |
| GOOGAlphabet Inc | $96.1M | 0.9% | −67.6% |
| Warner Bros Discovery IncCUSIP 934423104 | $90.8M | 0.8% | −66.6% |
| Chart Inds IncCUSIP 16115Q308 | $77.3M | 0.7% | +127.0% |
| SPYState Str Spdr S&p 500 Etf T | $75.7M | 0.7% | −82.9% |
| BABAAlibaba Group Hldg Ltd | $74.2M | 0.7% | +9612.0% |
| Webster Finl CorpCUSIP 947890109 | $71.5M | 0.7% | +10.1% |
| FXIIshares Tr | $69.5M | 0.6% | +110.3% |
| KVUEKenvue Inc | $68.8M | 0.6% | +35.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AVGOBroadcom Inc | September 30, 2020 | +936.9% | $169.3M |
| AMDAdvanced Micro Devices Inc | September 30, 2021 | +464.5% | $35.4M |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $96.1M |
| NVDANvidia Corporation | June 30, 2023 | +373.0% | $1.4B |
| TSMTaiwan Semiconductor Manufac | March 31, 2021 | +303.8% | $52.7M |
| PLTRPalantir Technologies Inc | September 30, 2024 | +213.6% | $107.9M |
| TSLATesla Inc | September 30, 2020 | +194.1% | $556.4M |
| QQQInvesco Qqq Tr | September 30, 2022 | +175.5% | $314.4M |
| AAPLApple Inc | September 30, 2021 | +104.5% | $270.5M |
| METAMeta Platforms Inc | June 30, 2023 | +96.3% | $335.1M |
Sold off last quarter
- Electronic Arts IncCUSIP 285512109 was $47.9M
- PANWPalo Alto Networks Inc was $16.6M
- Clearwater Analytics Hldgs ICUSIP 185123106 was $16.6M
- FLSFlowserve Corp was $14.4M
- CTRACoterra Energy Inc was $13.7M
- VVisa Inc was $12.4M
- Lyondellbasell Industries NvCUSIP N53745100 was $10.1M
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $10.1M
- EWYIshares Inc was $9.2M
- ACMAecom was $8.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +13.3% | +14.8% |
| March 31, 2026 | −6.1% | −4.6% |
| December 31, 2025 | +3.5% | +2.4% |
| September 30, 2025 | +15.9% | +7.8% |
| June 30, 2025 | +20.4% | +10.5% |
| March 31, 2025 | −7.1% | −4.6% |
| December 31, 2024 | +1.6% | +2.1% |
| September 30, 2024 | +6.7% | +5.4% |
| June 30, 2024 | +2.1% | +4.0% |
| March 31, 2024 | +9.1% | +10.0% |
| December 31, 2023 | +10.4% | +11.2% |
| September 30, 2023 | −3.8% | −3.6% |
| June 30, 2023 | +3.5% | +8.3% |
| March 31, 2023 | +7.2% | +7.0% |
| December 31, 2022 | +5.6% | +7.1% |
| September 30, 2022 | −3.9% | −5.3% |
| June 30, 2022 | −15.5% | −16.5% |
| March 31, 2022 | −4.4% | −4.9% |
| December 31, 2021 | +8.9% | +10.7% |
| September 30, 2021 | −1.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Capstone Investment Advisors, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1426196&type=13F-HR&dateb=&owner=include&count=40CIK 1426196
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1426196/000142619626000004/Filed August 17, 2026 · accession 0001426196-26-000004