# Capstone Capital Management Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2069260. Source: https://holderbook.com/funds/2069260-capstone-capital-management-ltd/

- Reported value: $223.6M
- Positions: 160
- Weight of the ten largest: 26.8%
- Filed: 2026-07-20

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| THEMES ETF TR | [CRWG](https://holderbook.com/stocks/CRWG/) | $9.3M | 292,967 | 4.2% | 1 |
| COREWEAVE INC | [CRWV](https://holderbook.com/stocks/CRWV/) | $8.9M | 89,780 | 4.0% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $7.7M | 52,266 | 3.4% | 3 |
| TIDAL TRUST II | [ORCX](https://holderbook.com/stocks/ORCX/) | $6.8M | 292,099 | 3.0% | 1 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $6.4M | 14,351 | 2.9% | 3 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $4.5M | 97,493 | 2.0% | 1 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $4.3M | 15,633 | 1.9% | 1 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.1M | 6,988 | 1.8% | 1 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $4.0M | 13,302 | 1.8% | 1 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $4.0M | 52,199 | 1.8% | 3 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $3.9M | 6,069 | 1.7% | 1 |
| BLOOM ENERGY CORP | [BE](https://holderbook.com/stocks/BE/) | $3.7M | 12,230 | 1.7% | 1 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $3.2M | 32,604 | 1.4% | 1 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $3.2M | 8,182 | 1.4% | 2 |
| CIENA CORP | [CIEN](https://holderbook.com/stocks/CIEN/) | $3.1M | 6,409 | 1.4% | 1 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $3.0M | 74,235 | 1.3% | 1 |
| NRG ENERGY INC | [NRG](https://holderbook.com/stocks/NRG/) | $2.9M | 20,007 | 1.3% | 3 |
| GRANITESHARES ETF TR | [NBIL](https://holderbook.com/stocks/NBIL/) | $2.8M | 48,968 | 1.3% | 1 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $2.8M | 9,652 | 1.2% | 3 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $2.8M | 3,241 | 1.2% | 2 |
| AXT INC | [AXTI](https://holderbook.com/stocks/AXTI/) | $2.6M | 36,591 | 1.2% | 1 |
| WOLFSPEED INC | [WOLF](https://holderbook.com/stocks/WOLF/) | $2.5M | 52,554 | 1.1% | 1 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.5M | 6,935 | 1.1% | 3 |
| GRANITESHARES ETF TR | [INTW](https://holderbook.com/stocks/INTW/) | $2.4M | 47,610 | 1.1% | 1 |
| DIREXION SHARES ETF TRUST | [NUGT](https://holderbook.com/stocks/NUGT/) | $2.4M | 20,573 | 1.1% | 1 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $2.3M | 9,360 | 1.0% | 1 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $2.3M | 14,778 | 1.0% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $2.2M | 8,751 | 1.0% | 1 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $2.2M | 3,064 | 1.0% | 1 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $2.2M | 11,714 | 1.0% | 1 |
| BARCLAYS BANK PLC | [VXX](https://holderbook.com/stocks/VXX/) | $2.1M | 118,778 | 0.9% | 3 |
| FORMFACTOR INC | [FORM](https://holderbook.com/stocks/FORM/) | $2.1M | 13,243 | 0.9% | 1 |
| ACM RESH INC | [ACMR](https://holderbook.com/stocks/ACMR/) | $2.1M | 16,643 | 0.9% | 1 |
| AEHR TEST SYS | [AEHR](https://holderbook.com/stocks/AEHR/) | $2.1M | 21,867 | 0.9% | 1 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $2.0M | 22,200 | 0.9% | 1 |
| VISHAY INTERTECHNOLOGY INC | [VSH](https://holderbook.com/stocks/VSH/) | $1.9M | 35,901 | 0.9% | 1 |
| TOWER SEMICONDUCTOR LTD | [TSEM](https://holderbook.com/stocks/TSEM/) | $1.9M | 7,137 | 0.8% | 1 |
| MKS INC. | [MKSI](https://holderbook.com/stocks/MKSI/) | $1.8M | 4,123 | 0.8% | 1 |
| FUTU HLDGS LTD | [FUTU](https://holderbook.com/stocks/FUTU/) | $1.8M | 19,429 | 0.8% | 1 |
| SITIME CORP | [SITM](https://holderbook.com/stocks/SITM/) | $1.7M | 2,292 | 0.8% | 1 |
| INVESTMENT MANAGERS SER TR I | [WDCX](https://holderbook.com/stocks/WDCX/) | $1.7M | 40,050 | 0.8% | 1 |
| ONTO INNOVATION INC | [ONTO](https://holderbook.com/stocks/ONTO/) | $1.7M | 4,432 | 0.8% | 1 |
| HYPERLIQUID STRATEGIES INC | [PURR](https://holderbook.com/stocks/PURR/) | $1.7M | 212,366 | 0.7% | 1 |
| LIGHTWAVE LOGIC INC | [LWLG](https://holderbook.com/stocks/LWLG/) | $1.7M | 176,162 | 0.7% | 1 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $1.6M | 4,832 | 0.7% | 1 |
| UNITED MICROELECTRONICS CORP | [UMC](https://holderbook.com/stocks/UMC/) | $1.6M | 57,523 | 0.7% | 1 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $1.5M | 115,367 | 0.7% | 1 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $1.5M | 16,038 | 0.7% | 1 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $1.5M | 111,244 | 0.7% | 1 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $1.3M | 5,106 | 0.6% | 1 |
| TEMPUS AI INC | [TEM](https://holderbook.com/stocks/TEM/) | $1.3M | 22,203 | 0.6% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.2M | 4,430 | 0.6% | 1 |
| NAVITAS SEMICONDUCTOR CORP | [NVTS](https://holderbook.com/stocks/NVTS/) | $1.2M | 69,453 | 0.6% | 1 |
| STMICROELECTRONICS N V | [STM](https://holderbook.com/stocks/STM/) | $1.2M | 16,261 | 0.5% | 1 |
| SK TELECOM CO LTD | [SKM](https://holderbook.com/stocks/SKM/) | $1.2M | 35,849 | 0.5% | 1 |
| GLOBAL X FDS | [COPX](https://holderbook.com/stocks/COPX/) | $1.1M | 14,423 | 0.5% | 1 |
| POET TECHNOLOGIES INC | [POET](https://holderbook.com/stocks/POET/) | $1.1M | 105,694 | 0.5% | 1 |
| GRANITESHARES ETF TR | [NOWL](https://holderbook.com/stocks/NOWL/) | $1.1M | 245,098 | 0.5% | 1 |
| DIREXION SHARES ETF TRUST | [MUU](https://holderbook.com/stocks/MUU/) | $1.0M | 996 | 0.5% | 1 |
| POWER SOLUTIONS INTL INC | [PSIX](https://holderbook.com/stocks/PSIX/) | $1.0M | 26,718 | 0.5% | 1 |
| ZOOM COMMUNICATIONS INC | [ZM](https://holderbook.com/stocks/ZM/) | $1.0M | 11,629 | 0.4% | 1 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.0M | 867 | 0.4% | 2 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $981.0K | 6,386 | 0.4% | 1 |
| GLOBAL X FDS | [URA](https://holderbook.com/stocks/URA/) | $978.9K | 22,400 | 0.4% | 1 |
| BWX TECHNOLOGIES INC | [BWXT](https://holderbook.com/stocks/BWXT/) | $957.3K | 4,918 | 0.4% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $889.9K | 2,490 | 0.4% | 2 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $882.1K | 1,712 | 0.4% | 1 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $871.5K | 3,339 | 0.4% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $869.7K | 2,007 | 0.4% | 1 |
| CLOUDFLARE INC | [NET](https://holderbook.com/stocks/NET/) | $856.8K | 3,493 | 0.4% | 1 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $826.3K | 4,864 | 0.4% | 1 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $825.2K | 9,744 | 0.4% | 1 |
| SUPER MICRO COMPUTER INC | [SMCI](https://holderbook.com/stocks/SMCI/) | $823.2K | 28,067 | 0.4% | 1 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $821.4K | 1,100 | 0.4% | 1 |
| EBAY INC. | [EBAY](https://holderbook.com/stocks/EBAY/) | $816.3K | 7,305 | 0.4% | 1 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $814.2K | 16,951 | 0.4% | 1 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $813.1K | 1,771 | 0.4% | 1 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $813.1K | 3,122 | 0.4% | 1 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $813.0K | 14,109 | 0.4% | 2 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $812.7K | 3,964 | 0.4% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $812.5K | 2,987 | 0.4% | 1 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $805.6K | 3,929 | 0.4% | 3 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $802.1K | 8,749 | 0.4% | 3 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $801.6K | 6,345 | 0.4% | 1 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $800.0K | 8,844 | 0.4% | 1 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $796.5K | 4,683 | 0.4% | 1 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $794.7K | 11,449 | 0.4% | 3 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $794.0K | 1,559 | 0.4% | 1 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $788.1K | 5,507 | 0.4% | 1 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $787.9K | 10,951 | 0.4% | 1 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $787.7K | 8,434 | 0.4% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $787.0K | 7,570 | 0.4% | 1 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $786.6K | 14,173 | 0.4% | 1 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $786.4K | 4,857 | 0.4% | 1 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $786.3K | 3,694 | 0.4% | 1 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $781.7K | 10,948 | 0.3% | 1 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $780.8K | 2,924 | 0.3% | 1 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $779.3K | 18,860 | 0.3% | 1 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $774.5K | 5,112 | 0.3% | 1 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $766.1K | 819 | 0.3% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +66.9% | +14.8% | +52.1% | 104% |
| Q1 2026 | -1.4% | -4.6% | +3.2% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $223.6M | 160 |
| Q1 2026 | $99.3M | 51 |
| Q4 2025 | $104.1M | 108 |