{
  "crd_number": 155563,
  "slug": "capstone-investment-advisors-llc-new-york-ny-155563",
  "primary_business_name": "CAPSTONE INVESTMENT ADVISORS, LLC",
  "legal_name": "CAPSTONE INVESTMENT ADVISORS, LLC",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-01-23",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-08-05",
  "carried_forward": false,
  "raum_total": 91526537087.0,
  "raum_discretionary": 91526537087.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 304,
  "advisory_employees": 115,
  "client_count_bucket": null,
  "clients_by_type": {
    "banking_thrift": {
      "raum": 139957890.0,
      "count": 2
    },
    "pooled_investment_vehicles": {
      "raum": 91386579197.0,
      "count": 29
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 2,
  "states_registered": [
    "CT",
    "MA",
    "MD",
    "NY",
    "TX"
  ],
  "websites": [
    "https://capstoneco.com",
    "https://globalvolatilitysummit.com",
    "https://instagram.com/GLOBALVOLATILITYSUMMIT",
    "https://linkedin.com/company/capstone-investment-advisors",
    "https://linkedin.com/company/global-volatility-summit",
    "https://vimeo.com/capstoneinvestment",
    "https://youtube.com/@globalvolatilitysummit2025"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155563",
  "disclosure_items": [
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/capstone-investment-advisors-llc-new-york-ny-155563",
  "display_name": "Capstone Investment Advisors, LLC",
  "summary": "Capstone Investment Advisors, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 5, 2026.",
  "citation": "AdvisorCensus. Capstone Investment Advisors, LLC (CRD 155563): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Capstone Investment Advisors, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Capstone Investment Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Capstone Investment Advisors, LLC located?",
      "a": "Capstone Investment Advisors, LLC's principal office is in New York, NY, according to its Form ADV; the September 2026 filing also lists 7 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Capstone Investment Advisors, LLC registered with the SEC or a state?",
      "a": "Capstone Investment Advisors, LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 155563."
    },
    {
      "q": "How much does Capstone Investment Advisors, LLC manage?",
      "a": "Capstone Investment Advisors, LLC reports $91,526,537,087 in regulatory assets under management in its Form ADV filing dated August 5, 2026 (100% discretionary)."
    },
    {
      "q": "How have Capstone Investment Advisors, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Capstone Investment Advisors, LLC: Regulatory assets under management: $46,011,539,652 in the October 2021 data and $91,526,537,087 in the October 2026 data, up 99%. Total employees: 176 in October 2021 and 304 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Capstone Investment Advisors, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (29); banking or thrift institutions (2)."
    },
    {
      "q": "Which custodians does Capstone Investment Advisors, LLC use?",
      "a": "Capstone Investment Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Goldman Sachs & Co. LLC, Morgan Stanley & Co. International PLC and The Bank of New York Mellon as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Capstone Investment Advisors, LLC report any disciplinary disclosures?",
      "a": "Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/155563"
    },
    {
      "q": "What changed in Capstone Investment Advisors, LLC's recent Form ADV filings?",
      "a": "In the September 2026 filing data: Added an office in San Francisco, CA."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 46011539652.0,
      "total_employees": 176,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 68102693152.0,
      "total_employees": 213,
      "filing_date": "2022-08-25"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 43484507920.0,
      "total_employees": 253,
      "filing_date": "2023-07-19"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 69252990610.0,
      "total_employees": 284,
      "filing_date": "2024-09-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 91714366931.0,
      "total_employees": 330,
      "filing_date": "2025-06-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 91526537087.0,
      "total_employees": 304,
      "filing_date": "2026-08-05"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "Added an office in San Francisco, CA."
      ]
    },
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 111 to 115.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Added an office in Middletown, MD."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Goldman Sachs & Co. LLC",
      "name_as_filed": "GOLDMAN SACHS & CO. LLC",
      "affiliated": false
    },
    {
      "name": "Morgan Stanley & Co. International PLC",
      "name_as_filed": "MORGAN STANLEY & CO. INTERNATIONAL PLC",
      "affiliated": false
    },
    {
      "name": "The Bank of New York Mellon",
      "name_as_filed": "THE BANK OF NEW YORK MELLON",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/capstone-investment-advisors-llc-new-york-ny-155563.md",
  "clients": [
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 2,
      "fewer_than_5": false,
      "raum": 139957890.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 29,
      "fewer_than_5": false,
      "raum": 91386579197.0
    }
  ],
  "disclosure_line": "Reports 2 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155563",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}