CAPSTONE INVESTMENT ADVISORS, LLC Q1 2023 Filing

Filed May 9, 2023

Portfolio Value

$19.8B

Holdings

702

Report Date

Q1 2023

Filing Type

13F-HR

All Holdings (702 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NDQINVESCO QQQ TR	26,511,480	$8.5B	43.01%	Put
2	CDLX 1 09/15/25CARDLYTICS INC	20,160,000	$8.0B	40.45%
3	MARA 1 12/01/26MARATHON DIGITAL HOLDINGS IN	8,000,000	$3.0B	15.17%
4	GOSS 5 06/01/27GOSSAMER BIO INC	12,000,000	$3.0B	15.17%
5	NOTV 3.25 10/15/27INOTIV INC	8,510,000	$3.0B	15.17%
6	RDFN 0.5 04/01/27REDFIN CORP	3,000,000	$1.0B	5.06%
7	—AMYRIS INC	4,500,000	$1.0B	5.06%
8	ESPR 4 11/15/25ESPERION THERAPEUTICS INC NE	3,500,000	$1.0B	5.06%
9	LPSN 0 12/15/26LIVEPERSON INC	3,000,000	$1.0B	5.06%
10	BYND 0 03/15/27BEYOND MEAT INC	5,000,000	$1.0B	5.06%
11	GRPN 1.125 03/15/26GROUPON INC	2,500,000	$987.0M	4.99%
12	—LANNETT CO INC	7,500,000	$806.0M	4.08%
13	SPYSPDR S&P 500 ETF TR	1,900,773	$777.0M	3.93%	Put
14	VRM 0.75 07/01/26VROOM INC	1,500,000	$577.0M	2.92%
15	AAPLAPPLE INC	3,031,700	$499.0M	2.52%	Put
16	AMZNAMAZON COM INC	4,117,380	$424.0M	2.14%	Put
17	MSFTMICROSOFT CORP	1,322,749	$380.0M	1.92%	Put
18	GQ9SPDR GOLD TR	1,706,061	$311.0M	1.57%	Put
19	HYGISHARES TR	4,000,000	$302.0M	1.53%	Put
20	METAMETA PLATFORMS INC	1,050,100	$222.0M	1.12%	Put
21	XLKSELECT SECTOR SPDR TR	1,271,100	$191.0M	0.97%	Put
22	TSLATESLA INC	864,330	$178.7M	0.90%	Put
23	EEMISHARES TR	4,198,172	$164.6M	0.83%	Put
24	NVDANVIDIA CORPORATION	546,500	$151.0M	0.76%	Put
25	GOOGALPHABET INC	1,256,260	$128.0M	0.65%	Put
26	GOOGLALPHABET INC	1,178,462	$121.0M	0.61%	Put
27	UNHUNITEDHEALTH GROUP INC	257,482	$120.0M	0.61%	Put
28	IWMISHARES TR	660,172	$116.0M	0.59%	Put
29	FXIISHARES TR	3,965,549	$115.0M	0.58%	Put
30	NSIT 0.75 02/15/25INSIGHT ENTERPRISES INC	45,320,000	$95.0M	0.48%
31	EFAISHARES TR	1,332,588	$94.5M	0.48%	Put
32	XLVSELECT SECTOR SPDR TR	697,400	$89.0M	0.45%	Put
33	CSCOCISCO SYS INC	1,636,800	$85.0M	0.43%	Put
34	CRMSALESFORCE INC	416,723	$82.0M	0.41%	Put
35	TKO 3.375 12/15/23WORLD WRESTLING ENTMT INC	21,874,000	$79.0M	0.40%
36	LQDISHARES TR	700,000	$76.0M	0.38%	Put
37	PANW 0.375 06/01/25PALO ALTO NETWORKS INC	37,850,000	$76.0M	0.38%
38	KBR 2.5 11/01/23KBR INC	34,478,000	$75.0M	0.38%
39	FCN 2 08/15/23FTI CONSULTING INC	37,500,000	$73.0M	0.37%
40	TXNTEXAS INSTRS INC	401,200	$73.0M	0.37%	Put
41	XLFSELECT SECTOR SPDR TR	2,164,293	$68.0M	0.34%	Put
42	XLYSELECT SECTOR SPDR TR	461,800	$68.0M	0.34%	Put
43	HDHOME DEPOT INC	237,095	$68.0M	0.34%	Put
44	NVMI 0 10/15/25NOVA LTD	46,544,000	$67.0M	0.34%
45	JPMJPMORGAN CHASE & CO	511,300	$66.0M	0.33%	Put
46	MDB 0.25 01/15/26MONGODB INC	48,300,000	$62.0M	0.31%
47	BACBANK AMERICA CORP	2,191,959	$62.0M	0.31%	Put
48	LITE 0.25 03/15/24LUMENTUM HLDGS INC	59,510,000	$62.0M	0.31%
49	ABBVABBVIE INC	395,000	$62.0M	0.31%	Put
50	DISDISNEY WALT CO	616,721	$61.0M	0.31%	Put
51	COSTCOSTCO WHSL CORP NEW	123,314	$60.0M	0.30%	Put
52	BRK/BBERKSHIRE HATHAWAY INC DEL	193,905	$59.0M	0.30%	Put
53	XLISELECT SECTOR SPDR TR	570,500	$57.0M	0.29%	Put
54	DXCM 0.75 12/01/23DEXCOM INC	20,000,000	$56.0M	0.28%
55	GSGOLDMAN SACHS GROUP INC	172,565	$55.0M	0.28%	Put
56	CATCATERPILLAR INC	237,151	$53.2M	0.27%	Put
57	ORCLORACLE CORP	580,200	$53.0M	0.27%	Put
58	XLFISELECT SECTOR SPDR TR	715,300	$53.0M	0.27%	Put
59	XLCSELECT SECTOR SPDR TR	867,900	$49.0M	0.25%	Put
60	ATVIEURACTIVISION BLIZZARD INC	587,600	$49.0M	0.25%	Put
61	VVISA INC	221,100	$49.0M	0.25%	Put
62	NFLXNETFLIX INC	144,739	$48.0M	0.24%	Put
63	CVXCHEVRON CORP NEW	295,301	$48.0M	0.24%	Put
64	DHRDANAHER CORPORATION	192,301	$47.0M	0.24%	Put
65	—COPA HOLDINGS SA	24,400,000	$45.0M	0.23%
66	ECPG 3.25 10/01/25ENCORE CAP GROUP INC	33,424,000	$45.0M	0.23%
67	MAMASTERCARD INCORPORATED	125,319	$44.0M	0.22%	Put
68	PANW 0.75 07/01/23PALO ALTO NETWORKS INC	20,000,000	$44.0M	0.22%
69	LTHM 4.125 07/15/25LIVENT CORP	16,973,000	$43.0M	0.22%
70	PFEPFIZER INC	1,046,396	$42.0M	0.21%	Put
71	XLESELECT SECTOR SPDR TR	529,383	$42.0M	0.21%	Put
72	WMTWALMART INC	286,000	$41.0M	0.21%	Put
73	JNJJOHNSON & JOHNSON	277,241	$41.0M	0.21%	Put
74	INSM 0.75 06/01/28INSMED INC	50,981,000	$39.0M	0.20%
75	GMED 1 06/01/23NUVASIVE INC	38,750,000	$38.0M	0.19%
76	PSTG 0.125 04/15/23PURE STORAGE INC	34,500,000	$34.0M	0.17%
77	PEPPEPSICO INC	197,243	$34.0M	0.17%	Put
78	CVSCVS HEALTH CORP	448,929	$32.0M	0.16%	Put
79	—IRONWOOD PHARMACEUTICALS INC	32,200,000	$32.0M	0.16%
80	EYE 2.5 05/15/25NATIONAL VISION HLDGS INC	34,235,000	$32.0M	0.16%
81	Z 0.75 09/01/24ZILLOW GROUP INC	27,646,000	$32.0M	0.16%
82	TVTX 2.25 03/01/29TRAVERE THERAPEUTICS INC	30,893,000	$30.0M	0.15%
83	X 5 11/01/26UNITED STATES STL CORP	15,000,000	$30.0M	0.15%
84	HZNPHORIZON THERAPEUTICS PUB L	280,000	$30.0M	0.15%
85	LLYLILLY ELI & CO	90,039	$29.6M	0.15%	Put
86	AKAM 0.125 05/01/25AKAMAI TECHNOLOGIES INC	29,514,000	$29.0M	0.15%
87	ADIANALOG DEVICES INC	153,100	$29.0M	0.15%	Put
88	PGPROCTER AND GAMBLE CO	196,089	$28.0M	0.14%	Put
89	BACVERIZON COMMUNICATIONS INC	753,137	$28.0M	0.14%	Put
90	INTCINTEL CORP	873,692	$28.0M	0.14%	Put
91	VMWEURVMWARE INC	235,200	$28.0M	0.14%	Put
92	ZS 0.125 07/01/25ZSCALER INC	27,200,000	$28.0M	0.14%
93	AEPAMERICAN ELEC PWR CO INC	301,815	$27.0M	0.14%	Put
94	—NEW RELIC INC	27,722,000	$27.0M	0.14%
95	UPSUNITED PARCEL SERVICE INC	143,038	$27.0M	0.14%	Put
96	CYTK 4 11/15/26CYTOKINETICS INC	8,020,000	$27.0M	0.14%
97	XOMEXXON MOBIL CORP	254,881	$26.0M	0.13%	Put
98	IART 0.5 08/15/25INTEGRA LIFESCIENCES HLDGS C	27,000,000	$26.0M	0.13%
99	QCOMQUALCOMM INC	213,921	$26.0M	0.13%	Put
100	LVLNSPDR SER TR	599,820	$26.0M	0.13%

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