SEC 13F Intelligence

Managers / Q1 2022 · view latest →

CAPSTONE INVESTMENT ADVISORS, LLC

CIK 0001426196 · 7 WORLD TRADE CENTER, 250 GREENWICH STREET, 32ND FLOOR, NEW YORK, NY, 10007 · (212) 232-1420

Reported Value
$36.4B
Q1 2022
Positions
2,076
Filings on Record
40
2019–present window
Filed
May 13, 2022
original filing

Summary

Capstone Investment Advisors, LLC reported $36.4B in U.S.-listed holdings across 2,076 positions for Q1 2022.

Compared with Q4 2021, the fund opened 264 new positions and exited 128.

Portfolio Metrics

Turnover
+8.6%
vs prior filed quarter
Top-10 Concentration
+2.4%
share of reported value
Largest Position
+0.3%
Zillow
New / Exited
264 / 128
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $8.1BQ4 ’18Q1 ’19: $10.9BQ2 ’19: $10.9BQ3 ’19: $14.6BQ4 ’19: $18.5BQ4 ’19Q1 ’20: $6.2BQ2 ’20: $15.1BQ3 ’20: $19.6BQ4 ’20: $29.9BQ4 ’20Q1 ’21: $34.1BQ2 ’21: $44.0BQ3 ’21: $50.5BQ4 ’21: $59.8BQ4 ’21Q1 ’22: $36.4BQ2 ’22: $20.5BQ3 ’22: $16.6BQ4 ’22: $13.7BQ4 ’22Q1 ’23: $19.8BQ2 ’23: $20.2BQ3 ’23: $22.2BQ4 ’23: $33.2BQ4 ’23Q1 ’24: $27.8BQ2 ’24: $31.9BQ3 ’24: $32.9BQ4 ’24: $41.4BQ4 ’24Q1 ’25: $37.8BQ2 ’25: $40.4BQ3 ’25: $53.7BQ4 ’25: $51.1BQ4 ’25Q1 ’26: $57.4Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 54.8%ETP: 34.5%US DOMESTIC: 7.2%Other: 2.1%REIT: 1.0%Other: 0.4%
  • Common Stock · 54.8% · $19.9B
  • ETP · 34.5% · $12.6B
  • US DOMESTIC · 7.2% · $2.6B
  • Other · 2.1% · $767M
  • REIT · 1.0% · $354M
  • Other · 0.4% · $133M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SNAPSNAP INCNEW+1.77M1.77M+$64M$64M
RAPID7 INCNEW+27.91M27.91M+$35M$35M
ROKUROKU INCNEW+207.1K207.1K+$26M$26M
TRAVERE THERAPEUTICS INCNEW+20.00M20.00M+$21M$21M
SAREPTA THERAPEUTICS INCNEW+14.50M14.50M+$19M$19M
GUARDANT HEALTH INCNEW+18.50M18.50M+$15M$15M
CUTERA INCNEW+6.75M6.75M+$15M$15M
TECHTARGET INCNEW+10.74M10.74M+$14M$14M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2022

133 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ZILLOW GROUP INCNOTE 1.375% 9/0 · NOTE 0.750% 9/00.34%$124M94.37M
2AKAMAI TECHNOLOGIES INCNOTE 0.375% 9/0 · NOTE 0.125% 5/00.27%$97M79.01M
3CONMED CORPNOTE 2.625% 2/00.26%$93M53.97M
4MSFTMICROSOFT CORPhistory →COM0.25%$91M293.9K
5MONGODB INCNOTE 0.250% 1/10.24%$89M40.80M
6RAPID7 INCNOTE 2.250% 5/0 · NOTE 0.250% 3/10.22%$79M50.95M
7GOOGLALPHABET INCCAP STK CL A · CAP STK CL C0.21%$75M27.0K
8KBR INCNOTE 2.500%11/00.21%$75M34.48M
9AMZNAMAZON COM INChistory →COM0.21%$75M22.9K
10ZSCALER INCNOTE 0.125% 7/00.17%$63M36.70M
11DEXCOM INCNOTE 0.750%12/00.17%$62M20.00M
12INSIGHT ENTERPRISES INCNOTE 0.750% 2/10.17%$62M38.32M
13VARONIS SYS INCNOTE 1.250% 8/10.17%$61M36.72M
14FTI CONSULTING INCNOTE 2.000% 8/10.16%$60M37.50M
15PALO ALTO NETWORKS INCNOTE 0.375% 6/00.16%$59M27.85M
16AAPLAPPLE INChistory →COM0.16%$57M325.7K
17BILL COM HLDGS INCNOTE 12/00.15%$54M33.79M
18LIVENT CORPNOTE 4.125% 7/10.14%$53M16.97M
19DATADOG INCNOTE 0.125% 6/10.14%$51M28.50M
20MIDDLEBY CORPNOTE 1.000% 9/00.13%$46M33.59M
21NATIONAL VISION HLDGS INCNOTE 2.500% 5/10.13%$46M29.75M
22ALTAIR ENGR INCNOTE 0.250% 6/00.12%$45M31.30M
23UNITED STATES STL CORPNOTE 5.000%11/00.12%$44M15.00M
24LUMENTUM HLDGS INCNOTE 0.250% 3/10.12%$43M26.00M
25IRONWOOD PHARMACEUTICALS INCNOTE 1.500% 6/1 · NOTE 0.750% 6/10.11%$42M35.37M
26HDHOME DEPOT INChistory →COM0.11%$42M138.8K
27ATLAS AIR WORLDWIDE HLDGS INNOTE 1.875% 6/00.11%$40M26.76M
28ENCORE CAP GROUP INCNOTE 3.250%10/00.11%$39M23.42M
29INSULET CORPNOTE 0.375% 9/00.11%$38M28.84M
30ARBOR REALTY TRUST INCNOTE 4.750%11/00.10%$36M34.50M
31WOLFSPEED INCNOTE 1.750% 5/00.10%$35M14.15M
32METAMETA PLATFORMS INChistory →CL A0.09%$34M154.6K
33JPMJPMORGAN CHASE & COhistory →COM0.09%$33M241.7K
34CYTOKINETICS INCNOTE 4.000%11/10.09%$33M9.00M
35INSMED INCNOTE 0.750% 6/00.09%$33M33.88M
36NEVRO CORPNOTE 2.750% 4/00.09%$33M30.17M
37TRAVERE THERAPEUTICS INCNOTE 2.250% 3/0 · NOTE 2.500% 9/10.08%$31M29.00M
38ISTAR INCNOTE 3.125% 9/10.08%$31M17.93M
39EXACT SCIENCES CORPNOTE 0.375% 3/00.08%$30M34.00M
40NATERA INCNOTE 2.250% 5/00.08%$30M22.39M
41CALLAWAY GOLF COMPANYNOTE 2.750% 5/00.08%$28M18.85M
42NFLXNETFLIX INChistory →COM0.08%$28M75.7K
43OMNICELL COMNOTE 0.250% 9/10.08%$28M20.00M
44NOVA LTDNOTE 10/10.08%$28M18.00M
45NVDANVIDIA CORPORATIONhistory →COM0.08%$27M100.4K
46DISDISNEY WALT COhistory →COM0.07%$26M189.5K
47VEECO INSTRS INC DELNOTE 3.750% 6/00.07%$25M12.00M
48PFEPFIZER INChistory →COM0.07%$25M483.4K
49DISH NETWORK CORPORATIONNOTE 12/10.07%$25M25.20M
50CVXCHEVRON CORP NEWhistory →COM0.07%$25M150.7K
51PYPLPAYPAL HLDGS INChistory →COM0.07%$24M209.7K
52JNJJOHNSON & JOHNSONhistory →COM0.06%$23M130.5K
53COPA HOLDINGS SANOTE 4.500% 4/10.06%$22M12.50M
54BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.06%$22M61.8K
55MESA LABS INCNOTE 1.375% 8/10.06%$21M19.50M
56NEOGENOMICS INCNOTE 1.250% 5/00.06%$20M23.50M
57LOWLOWES COS INChistory →COM0.05%$20M98.9K
58Q2 HLDGS INCNOTE 0.750% 6/00.05%$20M19.92M
59CCITIGROUP INChistory →COM NEW0.05%$20M371.7K
60INTUINTUIThistory →COM0.05%$20M41.1K
61CRMSALESFORCE COM INChistory →COM0.05%$20M92.6K
62BACBK OF AMERICA CORPhistory →COM0.05%$19M463.6K
63GRANITE CONSTR INCNOTE 2.750%11/00.05%$19M16.00M
64SAREPTA THERAPEUTICS INCDBCV 1.500%11/10.05%$19M14.50M
65REPLIGEN CORPNOTE 0.375% 7/10.05%$19M11.00M
66NOVOCURE LTDNOTE 11/00.05%$19M20.41M
67PRA GROUP INCNOTE 3.500% 6/00.05%$19M16.70M
68DWDMORGAN STANLEYhistory →COM NEW0.05%$18M206.7K
69WORLD WRESTLING ENTMT INCNOTE 3.375%12/10.05%$18M6.97M
70TSLATESLA INChistory →COM0.05%$18M16.4K
71PURE STORAGE INCNOTE 0.125% 4/10.05%$17M12.50M
72CINEMARK HLDGS INCNOTE 4.500% 8/10.05%$17M11.75M
73NUVASIVE INCNOTE 1.000% 6/00.05%$16M16.50M
74QCOMQUALCOMM INChistory →COM0.04%$16M105.3K
75BABOEING COhistory →COM0.04%$16M82.2K
76MICROSTRATEGY INCNOTE 0.750%12/10.04%$16M11.11M
77ZENDESK INCNOTE 0.625% 6/10.04%$15M12.09M
78GUARDANT HEALTH INCNOTE 11/10.04%$15M18.50M
79LIVEPERSON INCNOTE 0.750% 3/00.04%$15M14.68M
80CUTERA INCNOTE 2.250% 3/10.04%$15M6.75M
81REVANCE THERAPEUTICS INCNOTE 1.750% 2/10.04%$15M15.50M
82NKENIKE INChistory →CL B0.04%$14M107.3K
83TECHTARGET INCNOTE 0.125%12/10.04%$14M10.74M
84WFCWELLS FARGO CO NEWhistory →COM0.04%$14M291.6K
85GILDGILEAD SCIENCES INChistory →COM0.04%$14M234.4K
86ENCORE CAP EUROPE FIN LTDNOTE 4.500% 9/00.04%$14M9.00M
87PG&E CORPUNIT 99/99/99990.04%$13M120.0K
88SHWSHERWIN WILLIAMS COhistory →COM0.04%$13M53.8K
89RG6ROGERS CORPhistory →COM0.04%$13M48.6K
90HARMONIC INCDBCV 2.000% 9/00.04%$13M10.20M
91INNOVIVA INCNOTE 2.500% 8/10.04%$13M10.00M
92GENERAL ELECTRIC COCOM NEW0.04%$13M142.2K
93PERSHING SQUARE TONTINE HLDGCOM CL A0.04%$13M651.0K
94MANNKIND CORPNOTE 2.500% 3/00.04%$13M13.00M
95SBUXSTARBUCKS CORPhistory →COM0.04%$13M140.9K
96ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.04%$13M28.0K
97PEGASYSTEMS INCNOTE 0.750% 3/00.04%$13M13.50M
98ALLEGHENY TECHNOLOGIES INCNOTE 3.500% 6/10.03%$13M6.75M
99XLFSELECT SECTOR SPDR TRhistory →FINANCIAL0.03%$12M326.0K
100LYFT INCNOTE 1.500% 5/10.03%$12M10.00M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$57.4B1,558May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$51.1B1,530Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$53.7B1,889Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$40.4B1,556Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$37.8B1,317May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$41.4B1,824Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$32.9B1,886Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$31.9B2,031Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$27.8B2,306May 1, 202413F-HRchanges · EDGAR ↗
Q4 2023$33.2B2,073Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$22.2B2,081Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$20.2B1,824Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$19.8B1,542May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$13.7B1,493Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$16.6B1,642Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$20.5B1,805Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$36.4B2,076May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$59.8B1,848Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$50.5B1,999Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$44.0B1,599Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$34.1B1,616May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$29.9B1,658Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$19.6B1,384Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$15.1B1,306Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$6.2B1,107May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$18.5B1,375Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$14.6B1,342Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$10.9B1,282Aug 15, 2019RESTATEMENTchanges · EDGAR ↗
Q1 2019$10.9B1,146May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$8.1B1,239Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.