CAPSTONE INVESTMENT ADVISORS, LLC Q2 2023 Filing

Filed August 10, 2023

Portfolio Value

$20.2B

Holdings

971

Report Date

Q2 2023

Filing Type

13F-HR

All Holdings (971 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NDQINVESCO QQQ TR	16,882,702	$6.2B	30.81%	Put
2	GOSS 5 06/01/27GOSSAMER BIO INC	13,000,000	$4.0B	19.77%
3	NOTV 3.25 10/15/27INOTIV INC	8,610,000	$4.0B	19.77%
4	MARA 1 12/01/26MARATHON DIGITAL HOLDINGS IN	6,500,000	$3.0B	14.82%
5	AAPLAPPLE INC	5,341,701	$1.0B	5.11%	Put
6	SPYSPDR S&P 500 ETF TR	2,310,000	$1.0B	5.06%	Put
7	BYND 0 03/15/27BEYOND MEAT INC	5,000,000	$1.0B	4.94%
8	ESPR 4 11/15/25ESPERION THERAPEUTICS INC NE	3,500,000	$1.0B	4.94%
9	GRPN 1.125 03/15/26GROUPON INC	2,500,000	$950.0M	4.69%
10	—AMYRIS INC	4,500,000	$855.0M	4.22%
11	VRM 0.75 07/01/26VROOM INC	1,500,000	$688.0M	3.40%
12	MSFTMICROSOFT CORP	1,753,067	$596.0M	2.95%	Put
13	AMZNAMAZON COM INC	3,487,125	$454.0M	2.24%	Put
14	NVDANVIDIA CORPORATION	859,288	$362.0M	1.79%	Put
15	HYGISHARES TR	4,813,120	$360.0M	1.78%	Put
16	XLKSELECT SECTOR SPDR TR	1,916,000	$332.0M	1.64%	Put
17	GQ9SPDR GOLD TR	1,609,989	$286.0M	1.41%	Put
18	METAMETA PLATFORMS INC	974,656	$278.1M	1.37%	Put
19	EEMISHARES TR	6,842,100	$270.0M	1.33%	Put
20	TSLATESLA INC	1,011,763	$263.0M	1.30%	Put
21	GOOGLALPHABET INC	1,721,986	$204.0M	1.01%	Put
22	GOOGALPHABET INC	1,567,855	$188.0M	0.93%	Put
23	XLCSELECT SECTOR SPDR TR	2,143,000	$138.0M	0.68%	Put
24	XLVSELECT SECTOR SPDR TR	928,000	$122.0M	0.60%	Put
25	UNHUNITEDHEALTH GROUP INC	242,700	$116.0M	0.57%	Put
26	XLYSELECT SECTOR SPDR TR	648,700	$109.0M	0.54%	Put
27	XLFSELECT SECTOR SPDR TR	2,898,400	$97.0M	0.48%	Put
28	NSIT 0.75 02/15/25INSIGHT ENTERPRISES INC	45,320,000	$97.0M	0.48%
29	JPMJPMORGAN CHASE & CO	656,439	$94.1M	0.47%	Put
30	USMVISHARES TR	1,256,000	$93.0M	0.46%
31	ORCLORACLE CORP	749,200	$89.0M	0.44%	Put
32	NVMI 0 10/15/25NOVA LTD	55,544,000	$89.0M	0.44%
33	CSCOCISCO SYS INC	1,676,200	$85.0M	0.42%	Put
34	TSMTAIWAN SEMICONDUCTOR MFG LTD	843,967	$84.0M	0.42%	Call
35	LQDISHARES TR	707,500	$75.8M	0.37%	Put
36	CRMSALESFORCE INC	357,511	$75.0M	0.37%	Put
37	BRK/BBERKSHIRE HATHAWAY INC DEL	223,800	$75.0M	0.37%	Put
38	IWMISHARES TR	408,476	$75.0M	0.37%	Put
39	HDHOME DEPOT INC	244,300	$75.0M	0.37%	Put
40	MDB 0.25 01/15/26MONGODB INC	37,800,000	$75.0M	0.37%
41	NFLXNETFLIX INC	172,092	$75.0M	0.37%	Put
42	XLISELECT SECTOR SPDR TR	699,600	$74.0M	0.37%	Put
43	DISDISNEY WALT CO	823,978	$72.0M	0.36%	Put
44	FCN 2 08/15/23FTI CONSULTING INC	37,500,000	$70.0M	0.35%
45	TXNTEXAS INSTRS INC	383,700	$68.0M	0.34%	Put
46	BACBANK AMERICA CORP	2,420,697	$67.0M	0.33%	Put
47	XLFISELECT SECTOR SPDR TR	901,100	$65.0M	0.32%	Put
48	ABBVABBVIE INC	477,673	$63.0M	0.31%	Put
49	GSGOLDMAN SACHS GROUP INC	197,534	$62.0M	0.31%	Put
50	KBR 2.5 11/01/23KBR INC	24,478,000	$62.0M	0.31%
51	MAMASTERCARD INCORPORATED	157,845	$60.7M	0.30%	Put
52	LLYLILLY ELI & CO	128,300	$59.0M	0.29%	Put
53	PGPROCTER AND GAMBLE CO	401,184	$59.0M	0.29%	Put
54	INSM 0.75 06/01/28INSMED INC	69,981,000	$59.0M	0.29%
55	PANW 0.375 06/01/25PALO ALTO NETWORKS INC	22,850,000	$58.0M	0.29%
56	EFAISHARES TR	800,000	$58.0M	0.29%	Put
57	VVISA INC	246,521	$57.1M	0.28%	Put
58	XOMEXXON MOBIL CORP	522,495	$54.0M	0.27%	Put
59	WMTWALMART INC	350,400	$54.0M	0.27%	Put
60	LTHM 4.125 07/15/25LIVENT CORP	16,973,000	$54.0M	0.27%
61	JNJJOHNSON & JOHNSON	328,986	$53.2M	0.26%	Put
62	CATCATERPILLAR INC	222,033	$53.0M	0.26%	Put
63	PFEPFIZER INC	1,410,763	$50.0M	0.25%	Put
64	CVXCHEVRON CORP NEW	316,621	$49.0M	0.24%	Put
65	—COPA HOLDINGS SA	21,900,000	$48.0M	0.24%
66	Z 0.75 09/01/24ZILLOW GROUP INC	38,146,000	$47.0M	0.23%
67	ATVIEURACTIVISION BLIZZARD INC	543,900	$45.0M	0.22%	Put
68	DHRDANAHER CORPORATION	193,177	$45.0M	0.22%	Put
69	ECPG 3.25 10/01/25ENCORE CAP GROUP INC	33,424,000	$44.0M	0.22%
70	VMWEURVMWARE INC	295,000	$42.0M	0.21%	Put
71	ZS 0.125 07/01/25ZSCALER INC	35,200,000	$41.0M	0.20%
72	PEPPEPSICO INC	228,471	$41.0M	0.20%	Put
73	—IRONWOOD PHARMACEUTICALS INC	40,200,000	$40.0M	0.20%
74	NKENIKE INC	368,522	$39.0M	0.19%	Put
75	ADBEADOBE SYSTEMS INCORPORATED	76,415	$36.0M	0.18%	Put
76	AKAM 0.125 05/01/25AKAMAI TECHNOLOGIES INC	34,514,000	$36.0M	0.18%
77	TVTX 2.25 03/01/29TRAVERE THERAPEUTICS INC	44,393,000	$35.0M	0.17%
78	HLTHQCUE HEALTH INC	92,372	$34.0M	0.17%
79	—CONMED CORP	21,744,000	$33.0M	0.16%
80	CVSCVS HEALTH CORP	491,699	$33.0M	0.16%	Put
81	EYE 2.5 05/15/25NATIONAL VISION HLDGS INC	32,235,000	$33.0M	0.16%
82	AMDADVANCED MICRO DEVICES INC	292,600	$32.1M	0.16%	Put
83	KOCOCA COLA CO	548,600	$32.0M	0.16%	Put
84	XLESELECT SECTOR SPDR TR	419,647	$32.0M	0.16%	Put
85	BACVERIZON COMMUNICATIONS INC	915,142	$32.0M	0.16%	Put
86	QCOMQUALCOMM INC	276,484	$32.0M	0.16%	Put
87	DXCM 0.75 12/01/23DEXCOM INC	10,000,000	$31.0M	0.15%
88	JAZZ 1.5 08/15/24JAZZ INVESTMENTS I LTD	31,500,000	$30.0M	0.15%
89	UPSUNITED PARCEL SERVICE INC	166,203	$29.0M	0.14%	Put
90	X 5 11/01/26UNITED STATES STL CORP	15,000,000	$29.0M	0.14%
91	DWDMORGAN STANLEY	361,880	$29.0M	0.14%	Put
92	SBUXSTARBUCKS CORP	310,941	$29.0M	0.14%	Put
93	ACNACCENTURE PLC IRELAND	96,685	$28.1M	0.14%	Put
94	INTCINTEL CORP	871,143	$28.1M	0.14%	Put
95	ADIANALOG DEVICES INC	146,500	$28.0M	0.14%	Put
96	FXIISHARES TR	1,090,148	$28.0M	0.14%	Put
97	LITE 0.25 03/15/24LUMENTUM HLDGS INC	26,510,000	$28.0M	0.14%
98	SCHWSCHWAB CHARLES CORP	506,860	$28.0M	0.14%	Put
99	DDOG 0.125 06/15/25DATADOG INC	23,000,000	$28.0M	0.14%
100	IBMINTERNATIONAL BUSINESS MACHS	208,300	$27.0M	0.13%	Put

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