CAPSTONE INVESTMENT ADVISORS, LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| INVESCO QQQ TR(Put) | 5,101,200 | 16,859,400 | +11,758,200 | 3,133,718,170 | 9,730,908,488 | — | +6,597,190,318 |
| INVESCO QQQ TR(Call) | 2,329,900 | 9,756,800 | +7,426,900 | 1,431,280,869 | 5,631,429,824 | — | +4,200,148,955 |
| MICROSOFT CORP(MSFT) | 722,332 | 2,773,897 | +2,051,565 | 349,334,202 | 1,026,813,452 | 8.47% | +677,479,250 |
| AMAZON COM INC(AMZN)(Put) | 3,920,100 | 7,180,600 | +3,260,500 | 904,837,482 | 1,495,503,562 | — | +590,666,080 |
| AMAZON COM INC(AMZN) | 2,669,268 | 5,769,310 | +3,100,042 | 616,120,440 | 1,201,574,194 | 9.91% | +585,453,754 |
| MICROSOFT CORP(MSFT)(Put) | 1,478,900 | 3,420,600 | +1,941,700 | 715,225,618 | 1,266,203,502 | — | +550,977,884 |
| ISHARES TR(Put) | 700,000 | 5,108,800 | +4,408,800 | 77,133,000 | 556,808,112 | — | +479,675,112 |
| LUMENTUM HLDGS INC(LITE) | 0 | 0 | 0 | 296,432,181 | 752,698,547 | 6.21% | +456,266,366 |
| WESTERN DIGITAL CORP(WDC) | 0 | 0 | 0 | 270,591,700 | 576,536,978 | 4.76% | +305,945,278 |
| SELECT SECTOR SPDR TR(Call) ST STR FINL ETF | 0 | 5,873,400 | +5,873,400 | 0 | 289,969,756 | — | +289,969,756 |
| STATE STR SPDR S&P 500 ETF T(SPY) | 171,680 | 593,324 | +421,644 | 117,072,026 | 385,862,330 | 3.18% | +268,790,304 |
| ISHARES TR(Put) | 6,014,800 | 11,692,800 | +5,678,000 | 230,306,692 | 419,771,528 | — | +189,464,836 |
| WARNER BROS DISCOVERY INC(WBD) | 3,750,000 | 10,205,000 | +6,455,000 | 108,075,000 | 280,229,300 | 2.31% | +172,154,300 |
| ECHOSTAR CORP(ECHO) | 0 | 0 | 0 | 29,109,833 | 187,266,145 | 1.55% | +158,156,312 |
| WARNER BROS DISCOVERY INC(WBD)(Put) | 3,722,400 | 9,218,800 | +5,496,400 | 107,279,568 | 253,148,248 | — | +145,868,680 |
| TESLA INC(TSLA) | 913,787 | 1,454,100 | +540,313 | 410,948,290 | 540,561,675 | 4.46% | +129,613,385 |
| EXXON MOBIL CORP(Put) | 212,600 | 873,500 | +660,900 | 25,584,284 | 148,198,010 | — | +122,613,726 |
| ISHARES TR(Call) | 0 | 1,169,200 | +1,169,200 | 0 | 113,564,396 | — | +113,564,396 |
| CLOUDFLARE INC(NET) | 0 | 0 | 0 | 0 | 106,995,994 | 0.88% | +106,995,994 |
| ISHARES TR(Put) | 3,409,400 | 4,467,200 | +1,057,800 | 274,899,921 | 355,410,432 | — | +80,510,511 |
| ISHARES TR(Put) | 25,000 | 794,700 | +769,700 | 2,400,750 | 77,189,211 | — | +74,788,461 |
| NEBIUS GROUP N.V.(NBIS)(Put) | 1,811,000 | 2,161,000 | +350,000 | 151,589,755 | 224,225,360 | — | +72,635,605 |
| META PLATFORMS INC(META)(Call) | 168,600 | 309,200 | +140,600 | 111,291,174 | 176,902,596 | — | +65,611,422 |
| ISHARES INC(Put) | 4,436,700 | 5,285,200 | +848,500 | 140,953,960 | 202,898,827 | — | +61,944,867 |
| WEBSTER FINL CORP(WBS) | 0 | 849,500 | +849,500 | 0 | 58,972,290 | 0.49% | +58,972,290 |
| AMAZON COM INC(AMZN)(Call) | 1,049,200 | 1,427,800 | +378,600 | 242,176,344 | 297,367,906 | — | +55,191,562 |
| MICRON TECHNOLOGY INC(MU)(Put) | 301,700 | 418,100 | +116,400 | 86,108,197 | 141,250,904 | — | +55,142,707 |
| MICROSOFT CORP(MSFT)(Call) | 461,000 | 750,200 | +289,200 | 222,948,820 | 277,701,534 | — | +54,752,714 |
| CHEVRON CORPORATION(CVX)(Put) | 113,700 | 343,000 | +229,300 | 17,329,017 | 70,966,700 | — | +53,637,683 |
| ELECTRONIC ARTS INC(EA) | 0 | 235,000 | +235,000 | 0 | 47,909,450 | 0.40% | +47,909,450 |
| APPLE INC(AAPL)(Put) | 3,057,900 | 3,456,800 | +398,900 | 831,320,694 | 877,301,272 | — | +45,980,578 |
| ISHARES TR(Call) | 8,316,100 | 10,049,600 | +1,733,500 | 318,423,471 | 360,780,647 | — | +42,357,176 |
| INTERDIGITAL INC(IDCC) | 0 | 0 | 0 | 92,899,436 | 134,847,459 | 1.11% | +41,948,023 |
| BERKSHIRE HATHAWAY INC DEL(Put) | 150,300 | 244,500 | +94,200 | 75,548,295 | 117,164,400 | — | +41,616,105 |
| BRIDGEBIO PHARMA INC(BBIO) | 0 | 0 | 0 | 57,599,250 | 97,964,751 | 0.81% | +40,365,501 |
| PALANTIR TECHNOLOGIES INC(PLTR)(Put) | 376,000 | 731,700 | +355,700 | 66,834,000 | 107,033,076 | — | +40,199,076 |
| PALANTIR TECHNOLOGIES INC(PLTR) | 56,056 | 320,818 | +264,762 | 9,963,954 | 46,929,257 | 0.39% | +36,965,303 |
| JOHNSON & JOHNSON(JNJ)(Put) | 245,500 | 355,700 | +110,200 | 50,806,225 | 86,947,308 | — | +36,141,083 |
| ALCOA CORP(AA) | 0 | 543,665 | +543,665 | 0 | 36,061,299 | 0.30% | +36,061,299 |
| ISHARES TR | 41,324 | 1,046,789 | +1,005,465 | 1,582,296 | 37,579,726 | 0.31% | +35,997,430 |
| INTERNATIONAL BUSINESS MACHS(IBM) | 4,191 | 151,717 | +147,526 | 1,241,416 | 36,774,684 | 0.30% | +35,533,268 |
| CHART INDS INC(GTLS) | 0 | 163,000 | +163,000 | 0 | 33,700,250 | 0.28% | +33,700,250 |
| ORACLE CORP(ORCL) | 500,718 | 884,183 | +383,465 | 97,594,945 | 130,072,161 | 1.07% | +32,477,216 |
| SALESFORCE INC(CRM)(Call) | 17,800 | 192,900 | +175,100 | 4,715,398 | 36,008,643 | — | +31,293,245 |
| GE VERNOVA INC(GEV)(Put) | 13,900 | 44,000 | +30,100 | 9,084,623 | 38,407,600 | — | +29,322,977 |
| ELI LILLY & CO(LLY)(Put) | 54,600 | 95,300 | +40,700 | 58,677,528 | 87,654,081 | — | +28,976,553 |
| CITIGROUP INC(C)(Put) | 201,400 | 447,600 | +246,200 | 23,501,366 | 50,762,316 | — | +27,260,950 |
| JPMORGAN CHASE & CO(JPM)(Put) | 303,200 | 423,300 | +120,100 | 97,697,104 | 124,517,928 | — | +26,820,824 |
| PROCTER & GAMBLE CO(PG)(Put) | 167,700 | 333,500 | +165,800 | 24,033,087 | 48,170,740 | — | +24,137,653 |
| SERVICENOW INC(NOW)(Put) | 31,300 | 260,200 | +228,900 | 4,794,847 | 27,203,910 | — | +22,409,063 |
| EXXON MOBIL CORP(Call) | 55,000 | 168,100 | +113,100 | 6,618,700 | 28,519,846 | — | +21,901,146 |
| LINDE PLC(LIN)(Put) | 17,700 | 59,200 | +41,500 | 7,547,103 | 29,348,992 | — | +21,801,889 |
| WALMART INC(WMT)(Put) | 442,300 | 571,400 | +129,100 | 49,276,643 | 71,013,592 | — | +21,736,949 |
| SALESFORCE INC(CRM)(Put) | 45,400 | 178,500 | +133,100 | 12,026,914 | 33,320,595 | — | +21,293,681 |
| SANDISK CORP(SNDK)(Put) | 0 | 33,300 | +33,300 | 0 | 21,156,822 | — | +21,156,822 |
| RTX CORPORATION(RTX)(Put) | 121,400 | 221,500 | +100,100 | 22,264,760 | 42,727,350 | — | +20,462,590 |
| ISHARES TR(Call) | 122,500 | 202,900 | +80,400 | 30,154,600 | 50,319,200 | — | +20,164,600 |
| ALIBABA GROUP HLDG LTD(BABA)(Put) | 10,000 | 171,500 | +161,500 | 1,465,800 | 21,516,390 | — | +20,050,590 |
| XPO INC(XPO)(Put) | 0 | 100,800 | +100,800 | 0 | 19,610,640 | — | +19,610,640 |
| ALPHATEC HLDGS INC(ATEC) | 0 | 0 | 0 | 0 | 19,339,560 | 0.16% | +19,339,560 |
| CONOCOPHILLIPS(COP)(Put) | 51,000 | 180,100 | +129,100 | 4,774,110 | 23,773,200 | — | +18,999,090 |
| MIRUM PHARMACEUTICALS INC(MIRM) | 0 | 0 | 0 | 62,032,800 | 80,784,001 | 0.67% | +18,751,201 |
| BIOMARIN PHARMACEUTICAL INC(BMRN) | 0 | 0 | 0 | 33,614,000 | 52,343,138 | 0.43% | +18,729,138 |
| RELIANCE INC(RS) | 0 | 61,560 | +61,560 | 0 | 18,709,315 | 0.15% | +18,709,315 |
| BANK AMERICA CORP(Call) | 169,900 | 574,000 | +404,100 | 9,344,500 | 27,982,500 | — | +18,638,000 |
| BLACKROCK INC(BLK)(Put) | 600 | 19,800 | +19,200 | 642,204 | 19,041,858 | — | +18,399,654 |
| SELECT SECTOR SPDR TR ST STR ENERG ETF | 1,197,568 | 1,163,460 | -34,108 | 53,543,265 | 71,273,560 | 0.59% | +17,730,295 |
| LAM RESEARCH CORP(LRCX)(Put) | 158,700 | 207,100 | +48,400 | 27,166,266 | 44,248,986 | — | +17,082,720 |
| INVESCO QQQ TR | 2,572 | 31,488 | +28,916 | 1,580,005 | 18,174,244 | 0.15% | +16,594,239 |
| CLEARWATER ANALYTICS HLDGS I | 0 | 700,000 | +700,000 | 0 | 16,555,000 | 0.14% | +16,555,000 |
| EXPEDITORS INTL WASH INC(EXPD) | 0 | 111,151 | +111,151 | 0 | 15,920,158 | 0.13% | +15,920,158 |
| MICRON TECHNOLOGY INC(MU) | 7,618 | 53,392 | +45,774 | 2,174,253 | 18,037,953 | 0.15% | +15,863,700 |
| WESTLAKE CORPORATION(WLK) | 3,119 | 135,808 | +132,689 | 230,619 | 15,865,091 | 0.13% | +15,634,472 |
| DEERE & CO(DE)(Put) | 7,300 | 33,700 | +26,400 | 3,398,661 | 18,983,210 | — | +15,584,549 |
| MARA HOLDINGS INC(MARA) | 0 | 0 | 0 | 0 | 15,522,500 | 0.13% | +15,522,500 |
| EVERGY INC(EVRG) | 0 | 0 | 0 | 25,596,375 | 40,507,500 | 0.33% | +14,911,125 |
| BANK AMERICA CORP(Put) | 970,500 | 1,398,500 | +428,000 | 53,377,500 | 68,176,875 | — | +14,799,375 |
| JPMORGAN CHASE & CO(JPM) | 775 | 50,444 | +49,669 | 249,721 | 14,838,607 | 0.12% | +14,588,886 |
| ISHARES TR | 0 | 149,910 | +149,910 | 0 | 14,560,758 | 0.12% | +14,560,758 |
| ASCENDIS PHARMA A/S(ASND) | 0 | 0 | 0 | 36,576,588 | 50,974,724 | 0.42% | +14,398,136 |
| STRIDE INC(LRN) | 0 | 0 | 0 | 5,462,000 | 19,808,750 | 0.16% | +14,346,750 |
| ACCENTURE PLC IRELAND(Call) SHS CLASS A | 11,400 | 87,500 | +76,100 | 3,058,620 | 17,350,375 | — | +14,291,755 |
| AMPHENOL CORP(Put) | 25,700 | 140,200 | +114,500 | 3,473,098 | 17,714,270 | — | +14,241,172 |
| CONSTELLATION ENERGY CORP(CEG) | 8,305 | 60,485 | +52,180 | 2,933,907 | 16,890,436 | 0.14% | +13,956,529 |
| SEA LTD(SE) | 0 | 0 | 0 | 16,524,000 | 30,380,000 | 0.25% | +13,856,000 |
| HONEYWELL INTL INC(HON)(Put) | 2,300 | 63,200 | +60,900 | 448,707 | 14,285,096 | — | +13,836,389 |
| COTERRA ENERGY INC | 0 | 389,819 | +389,819 | 0 | 13,698,240 | 0.11% | +13,698,240 |
| RAPID7 INC | 0 | 0 | 0 | 36,943,025 | 50,400,168 | 0.42% | +13,457,143 |
| COSTCO WHOLESALE CORPORATION(COST)(Put) | 32,100 | 41,200 | +9,100 | 27,681,114 | 41,052,916 | — | +13,371,802 |
| MCKESSON CORP(MCK)(Put) | 1,100 | 16,400 | +15,300 | 902,319 | 14,191,904 | — | +13,289,585 |
| ROBINHOOD MKTS INC(HOOD) | 40,319 | 256,054 | +215,735 | 4,560,079 | 17,744,542 | 0.15% | +13,184,463 |
| BERKSHIRE HATHAWAY INC DEL | 0 | 27,107 | +27,107 | 0 | 12,989,674 | 0.11% | +12,989,674 |
| NIKE INC(NKE)(Call) | 145,200 | 419,000 | +273,800 | 9,250,692 | 22,131,580 | — | +12,880,888 |
| VISA INC(V) | 0 | 41,189 | +41,189 | 0 | 12,448,963 | 0.10% | +12,448,963 |
| SPDR SERIES TRUST(Put) ST STR SP BIOT | 5,000 | 101,200 | +96,200 | 609,650 | 12,926,276 | — | +12,316,626 |
| CLEANSPARK INC(CLSK) | 0 | 0 | 0 | 0 | 12,260,688 | 0.10% | +12,260,688 |
| SPDR SERIES TRUST(Call) ST STR SP REGBNK | 30,000 | 213,400 | +183,400 | 1,944,300 | 13,903,010 | — | +11,958,710 |
| PALO ALTO NETWORKS INC(PANW) | 25,950 | 103,791 | +77,841 | 4,779,990 | 16,639,773 | 0.14% | +11,859,783 |
| CISCO SYS INC(CSCO)(Call) | 84,400 | 236,100 | +151,700 | 6,501,332 | 18,318,999 | — | +11,817,667 |
| MAKEMYTRIP LIMITED MAURITIUS(MMYT) | 0 | 0 | 0 | 0 | 11,730,000 | 0.10% | +11,730,000 |