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Capstone Investment Advisors

Capstone Investment Advisors Portfolio holdings

AUM $54B
1-Year Est. Return 23.5%
This Fund
S&P 500
This Quarter Est. Return
+3.11%
1 Year Est. Return
+23.5%
3 Year Est. Return
+44.04%
5 Year Est. Return
+34.53%
10 Year Est. Return
+154.24%
AUM
$13.7B
AUM Growth
-$2.83B
Cap. Flow
-$3.16B
Cap. Flow %
-23.02%
Top 10 Hldgs %
40.17%
Holding
1,769
New
118
Increased
554
Reduced
424
Closed
276

Top Buys

Rank Stock Value
1
USMV icon
iShares MSCI USA Min Vol Factor ETF
USMV
+$45.8M
2
O icon
Realty Income
O
+$37.9M
3
GLD icon
SPDR Gold Trust
GLD
+$36.8M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$31.4M
5
VTV icon
Vanguard Morningstar Value ETF
VTV
+$16.7M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$109M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$82.3M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$80.6M
4
AAPL icon
Apple
AAPL
+$59M
5
JPM icon
JPMorgan Chase
JPM
+$34.3M

Sector Composition

Rank Sector Weight
1 Miscellaneous 92.39%
2 Technology 1.84%
3 Financials 1.69%
4 Consumer Discretionary 1.14%
5 Communication Services 0.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$77.3B
$1.42B 10.31%
8,124,000
-6,535,800
-45% -$1.16B
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$502B
$1.22B 8.88%
4,581,800
-3,578,000
-44% -$989M
QQQ icon
3
CALL
Invesco QQQ Trust
QQQ
$502B
$948M 6.9%
3,559,400
-510,400
-13% -$141M
EFA icon
4
PUT
iShares MSCI EAFE ETF
EFA
$78B
$533M 3.88%
8,113,600
-6,029,600
-43% -$378M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$796B
$473M 3.45%
1,237,700
+907,700
+275% +$349M
HYG icon
6
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$14.8B
$258M 1.88%
3,500,000
-800,000
-19% -$59M
GLD icon
7
CALL
SPDR Gold Trust
GLD
$145B
$227M 1.65%
+1,339,400
New +$216M
FXI icon
8
CALL
iShares China Large-Cap ETF
FXI
$4.05B
$199M 1.45%
7,048,800
+4,083,000
+138% +$106M
SPY icon
9
State Street SPDR S&P 500 ETF Trust
SPY
$796B
$126M 0.92%
328,893
-214,058
-39% -$82.3M
SPY icon
10
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$796B
$117M 0.85%
306,300
+206,300
+206% +$79.3M
AAPL icon
11
PUT
Apple
AAPL
$4.98T
$111M 0.81%
856,000
-391,300
-31% -$55.9M
LQD icon
12
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$27.7B
$105M 0.77%
1,000,000
– –
MSFT icon
13
PUT
Microsoft
MSFT
$3.83T
$91M 0.66%
379,600
-400,900
-51% -$96.2M
BRK.B icon
14
PUT
Berkshire Hathaway Class B
BRK.B
$1.08T
$89.5M 0.65%
289,600
+23,900
+9% +$7.1M
AAPL icon
15
CALL
Apple
AAPL
$4.98T
$82.3M 0.6%
633,200
+355,300
+128% +$50.8M
XOM icon
16
PUT
ExxonMobil
XOM
$660B
$76.6M 0.56%
694,200
-38,700
-5% -$4.15M
MSFT icon
17
CALL
Microsoft
MSFT
$3.83T
$74.2M 0.54%
309,500
+204,700
+195% +$49.1M
UNH icon
18
CALL
UnitedHealth
UNH
$338B
$67.4M 0.49%
127,200
+73,100
+135% +$38.7M
EEM icon
19
PUT
iShares MSCI Emerging Markets ETF
EEM
$31.6B
$62M 0.45%
1,636,700
-5,411,500
-77% -$200M
VTV icon
20
Vanguard Morningstar Value ETF
VTV
$189B
$61.2M 0.45%
435,640
+121,600
+39% +$16.7M
EWZ icon
21
CALL
iShares MSCI Brazil ETF
EWZ
$8.44B
$55.9M 0.41%
2,000,000
+1,100,000
+122% +$33.6M
JPM icon
22
PUT
JPMorgan Chase
JPM
$912B
$50M 0.36%
372,900
-30,900
-8% -$3.92M
AMZN icon
23
PUT
Amazon
AMZN
$2.69T
$49.6M 0.36%
590,600
-1,130,000
-66% -$112M
EEM icon
24
iShares MSCI Emerging Markets ETF
EEM
$31.6B
$48.1M 0.35%
1,268,381
+849,695
+203% +$31.4M
LLY icon
25
PUT
Eli Lilly
LLY
$1.05T
$48M 0.35%
131,300
+62,100
+90% +$22M
1
2 3 4 5

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Capstone Investment Advisors's Q4 2022 Portfolio in Review

As of Q4 2022, Capstone Investment Advisors held 1,769 positions worth $13.7B, down 17% from $16.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Capstone Investment Advisors withdrew a net $3.16B in Q4 2022, closing 276 positions and reducing 424 holdings. Its most notable exit was iShares US Real Estate ETF, an estimated $22.4M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 92% of assets, up from 89% a quarter earlier, followed by Technology and Financials.

Against the trend, Capstone Investment Advisors opened a new position in iShares MSCI USA Min Vol Factor ETF worth $46.4M.

  • Capstone Investment Advisors's largest Q4 2022 buy was iShares MSCI USA Min Vol Factor ETF: 643,380 shares worth $46.4M.
  • Capstone Investment Advisors added most to Realty Income in Q4 2022, an estimated $37.9M increase.
  • Capstone Investment Advisors's biggest Q4 2022 reduction was Microsoft, cutting an estimated $109M.
  • Capstone Investment Advisors fully exited iShares US Real Estate ETF in Q4 2022, selling an estimated $22.4M.
  • Capstone Investment Advisors's ten largest holdings make up 40% of its $13.7B portfolio in Q4 2022.
  • Capstone Investment Advisors opened 118 new positions and closed 276 in Q4 2022.
  • Capstone Investment Advisors's portfolio value fell 17% quarter-over-quarter to $13.7B.

Based on Capstone Investment Advisors's 13F filing for Q4 2022, filed 10 Feb 2023.