Capstone Capital Management
HONG KONG, K3files as Capstone Capital Management Ltd
$224m in 160 US stocks at the end of 30 June 2026. The top 10 are 26.8% of the money. It changed about 81.5% of the portfolio this quarter.
Value
$224m
Stocks
160
Top 10 share
26.8%
Turnover
81.5%
What changed this quarter
New
Bought for the first time this quarter.
- Themes ETF TR4.2% of the fund
- Tidal Trust IIORCX3.0% of the fund
- IrenIREN2.0% of the fund
- Nebius GroupNBIS1.9% of the fund
- Advanced Micro DevicesAMD1.8% of the fund
- KLAKLAC1.8% of the fund
- Western DigitalWDC1.7% of the fund
- Bloom EnergyBE1.7% of the fund
- ServiceNowNOW1.4% of the fund
- CienaCIEN1.4% of the fund
- Trip COM GroupTCOM1.3% of the fund
- Graniteshares ETF TRNBIL1.3% of the fund
- AXTAXTI1.2% of the fund
- WolfspeedWOLF1.1% of the fund
- Graniteshares ETF TRINTW1.1% of the fund
- Direxion Shares ETF TrustNUGT1.1% of the fund
- Constellation EnergyCEG1.0% of the fund
- SAP SESAP1.0% of the fund
- CorningGLW1.0% of the fund
- Applied MaterialsAMAT1.0% of the fund
- QualcommQCOM1.0% of the fund
- FormfactorFORM0.9% of the fund
- ACM ResearchACMR0.9% of the fund
- Aehr Test SystemsAEHR0.9% of the fund
- Ishares TRIGV0.9% of the fund
Added
Bought more of a stock they already held.
- CoreWeaveCRWV4.0% of the fund+397%
- OracleORCL3.4% of the fund+243%
- PDD HoldingsPDD1.8% of the fund+25%
- NRG EnergyNRG1.3% of the fund+50%
- AppleAAPL1.2% of the fund+832%
- Barclays BankVXX0.9% of the fund+34%
- Bristol-Myers SquibbBMY0.4% of the fund+91%
- AdobeADBE0.4% of the fund+117%
- Electronic ArtsEA0.4% of the fund+81%
- Colgate-PalmoliveCL0.4% of the fund+70%
Cut
Sold some of their stake.
- SynopsysSNPS2.9% of the fund-61%
- CoherentCOHR1.4% of the fund-18%
- Lumentum HoldingsLITE1.2% of the fund-24%
- AlphabetGOOG1.1% of the fund-5%
- Micron TechnologyMU0.4% of the fund-92%
- AlphabetGOOGL0.4% of the fund-30%
- BoeingBA0.4% of the fund-34%
- Boston ScientificBSX0.3% of the fund-65%
- Amkor TechnologyAMKR0.2% of the fund-84%
- Direxion Shares ETF TrustLABD0.2% of the fund-50%
- PfizerPFE0.2% of the fund-50%
- Alnylam PharmaceuticalsALNY0.1% of the fund-40%
- Wave Life SciencesWVE0.1% of the fund-63%
Sold out
Sold their entire stake.
- IntelINTC-100%
- TeslaTSLA-100%
- SandiskSNDK-100%
- Palo Alto NetworksPANW-100%
- RambusRMBS-100%
- SeaSE-100%
- Select Sector Spdr TRXLP-100%
- Meta PlatformsMETA-100%
- Amer SportsAS-100%
- DBX ETF TRASHR-100%
- Arrowhead PharmaceuticalsARWR-100%
- Novo Nordisk A SNVO-100%
- IsharesEWY-100%
- Johnson Controls InternationalJCI-100%
- Ionis PharmaceuticalsIONS-100%
- Dutch BrosBROS-100%
- NikeNKE-100%
- IsharesEWZ-100%
- IsharesEWC-100%
- AT&TT-100%
- Summit TherapeuticsSMMT-100%
- Chipotle Mexican GrillCMG-100%
- Ishares TRITB-100%
- Procter & GamblePG-100%
- Clearway EnergyCWEN-100%
Holdings
- Themes ETF TR
- Share
- 4.2%
- Value
- $9m
- Shares
- 292,967
New
- Tidal Trust IIORCX
- Share
- 3.0%
- Value
- $7m
- Shares
- 292,099
New
- PDD HoldingsPDD
- Share
- 1.8%
- Value
- $4m
- Shares
- 52,199
+25%
- Trip COM GroupTCOM
- Share
- 1.3%
- Value
- $3m
- Shares
- 74,235
New
- Graniteshares ETF TRNBIL
- Share
- 1.3%
- Value
- $3m
- Shares
- 48,968
New
- Graniteshares ETF TRINTW
- Share
- 1.1%
- Value
- $2m
- Shares
- 47,610
New
- Direxion Shares ETF TrustNUGT
- Share
- 1.1%
- Value
- $2m
- Shares
- 20,573
New
- Barclays BankVXX
- Share
- 0.9%
- Value
- $2m
- Shares
- 118,778
+34%
- Ishares TRIGV
- Share
- 0.9%
- Value
- $2m
- Shares
- 22,200
New
- Futu HldgsFUTU
- Share
- 0.8%
- Value
- $2m
- Shares
- 19,429
New
- Investment Managers SER TR IWDCX
- Share
- 0.8%
- Value
- $2m
- Shares
- 40,050
New
- NokiaNOK
- Share
- 0.7%
- Value
- $2m
- Shares
- 115,367
New
- Global X FDSCOPX
- Share
- 0.5%
- Value
- $1m
- Shares
- 14,423
New
- Graniteshares ETF TRNOWL
- Share
- 0.5%
- Value
- $1m
- Shares
- 245,098
New
- Direxion Shares ETF TrustMUU
- Share
- 0.5%
- Value
- $1m
- Shares
- 996
New
- Global X FDSURA
- Share
- 0.4%
- Value
- $978,880
- Shares
- 22,400
New
- State STR Spdr S&P 500 ETF TSPY
- Share
- 0.4%
- Value
- $821,447
- Shares
- 1,100
New
- Electronic ArtsEA
- Share
- 0.4%
- Value
- $805,602
- Shares
- 3,929
+81%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Themes ETF TR | 4.2% | $9m | 292,967 | New |
| CoreWeaveCRWV | 4.0% | $9m | 89,780 | +397% |
| OracleORCL | 3.4% | $8m | 52,266 | +243% |
| Tidal Trust IIORCX | 3.0% | $7m | 292,099 | New |
| SynopsysSNPS | 2.9% | $6m | 14,351 | -61% |
| IrenIREN | 2.0% | $4m | 97,493 | New |
| Nebius GroupNBIS | 1.9% | $4m | 15,633 | New |
| Advanced Micro DevicesAMD | 1.8% | $4m | 6,988 | New |
| KLAKLAC | 1.8% | $4m | 13,302 | New |
| PDD HoldingsPDD | 1.8% | $4m | 52,199 | +25% |
| Western DigitalWDC | 1.7% | $4m | 6,069 | New |
| Bloom EnergyBE | 1.7% | $4m | 12,230 | New |
| ServiceNowNOW | 1.4% | $3m | 32,604 | New |
| CoherentCOHR | 1.4% | $3m | 8,182 | -18% |
| CienaCIEN | 1.4% | $3m | 6,409 | New |
| Trip COM GroupTCOM | 1.3% | $3m | 74,235 | New |
| NRG EnergyNRG | 1.3% | $3m | 20,007 | +50% |
| Graniteshares ETF TRNBIL | 1.3% | $3m | 48,968 | New |
| AppleAAPL | 1.2% | $3m | 9,652 | +832% |
| Lumentum HoldingsLITE | 1.2% | $3m | 3,241 | -24% |
| AXTAXTI | 1.2% | $3m | 36,591 | New |
| WolfspeedWOLF | 1.1% | $3m | 52,554 | New |
| AlphabetGOOG | 1.1% | $2m | 6,935 | -5% |
| Graniteshares ETF TRINTW | 1.1% | $2m | 47,610 | New |
| Direxion Shares ETF TrustNUGT | 1.1% | $2m | 20,573 | New |
| Constellation EnergyCEG | 1.0% | $2m | 9,360 | New |
| SAP SESAP | 1.0% | $2m | 14,778 | New |
| CorningGLW | 1.0% | $2m | 8,751 | New |
| Applied MaterialsAMAT | 1.0% | $2m | 3,064 | New |
| QualcommQCOM | 1.0% | $2m | 11,714 | New |
| Barclays BankVXX | 0.9% | $2m | 118,778 | +34% |
| FormfactorFORM | 0.9% | $2m | 13,243 | New |
| ACM ResearchACMR | 0.9% | $2m | 16,643 | New |
| Aehr Test SystemsAEHR | 0.9% | $2m | 21,867 | New |
| Ishares TRIGV | 0.9% | $2m | 22,200 | New |
| Vishay IntertechnologyVSH | 0.9% | $2m | 35,901 | New |
| Tower SemiconductorTSEM | 0.8% | $2m | 7,137 | New |
| MKSMKSI | 0.8% | $2m | 4,123 | New |
| Futu HldgsFUTU | 0.8% | $2m | 19,429 | New |
| SitimeSITM | 0.8% | $2m | 2,292 | New |
| Investment Managers SER TR IWDCX | 0.8% | $2m | 40,050 | New |
| Onto InnovationONTO | 0.8% | $2m | 4,432 | New |
| Hyperliquid StrategiesPURR | 0.7% | $2m | 212,366 | New |
| Lightwave LogicLWLG | 0.7% | $2m | 176,162 | New |
| MongoDBMDB | 0.7% | $2m | 4,832 | New |
| United MicroelectronicsUMC | 0.7% | $2m | 57,523 | New |
| NokiaNOK | 0.7% | $2m | 115,367 | New |
| ON SemiconductorON | 0.7% | $2m | 16,038 | New |
| Nu HoldingsNU | 0.7% | $1m | 111,244 | New |
| DatadogDDOG | 0.6% | $1m | 5,106 | New |
| Tempus AITEM | 0.6% | $1m | 22,203 | New |
| International Business MachinesIBM | 0.6% | $1m | 4,430 | New |
| Navitas SemiconductorNVTS | 0.6% | $1m | 69,453 | New |
| STMicroelectronicsSTM | 0.5% | $1m | 16,261 | New |
| SK TelecomSKM | 0.5% | $1m | 35,849 | New |
| Global X FDSCOPX | 0.5% | $1m | 14,423 | New |
| Poet TechnologiesPOET | 0.5% | $1m | 105,694 | New |
| Graniteshares ETF TRNOWL | 0.5% | $1m | 245,098 | New |
| Direxion Shares ETF TrustMUU | 0.5% | $1m | 996 | New |
| Power Solutions InternationalPSIX | 0.5% | $1m | 26,718 | New |
| Zoom CommunicationsZM | 0.4% | $1m | 11,629 | New |
| Micron TechnologyMU | 0.4% | $1m | 867 | -92% |
| FortinetFTNT | 0.4% | $981,017 | 6,386 | New |
| Global X FDSURA | 0.4% | $978,880 | 22,400 | New |
| BWX TechnologiesBWXT | 0.4% | $957,289 | 4,918 | New |
| AlphabetGOOGL | 0.4% | $889,851 | 2,490 | -30% |
| AppLovinAPP | 0.4% | $882,074 | 1,712 | New |
| IntuitINTU | 0.4% | $871,479 | 3,339 | New |
| Lam ResearchLRCX | 0.4% | $869,693 | 2,007 | New |
| CloudflareNET | 0.4% | $856,763 | 3,493 | New |
| Arista NetworksANET | 0.4% | $826,296 | 4,864 | New |
| CortevaCTVA | 0.4% | $825,219 | 9,744 | New |
| Super Micro ComputerSMCI | 0.4% | $823,205 | 28,067 | New |
| State STR Spdr S&P 500 ETF TSPY | 0.4% | $821,447 | 1,100 | New |
| eBayEBAY | 0.4% | $816,334 | 7,305 | New |
| FastenalFAST | 0.4% | $814,157 | 16,951 | New |
| Spotify TechnologySPOT | 0.4% | $813,119 | 1,771 | New |
| Valero EnergyVLO | 0.4% | $813,094 | 3,122 | New |
| Bristol-Myers SquibbBMY | 0.4% | $812,961 | 14,109 | +91% |
| AdobeADBE | 0.4% | $812,699 | 3,964 | +117% |
| Union PacificUNP | 0.4% | $812,464 | 2,987 | New |
| Electronic ArtsEA | 0.4% | $805,602 | 3,929 | +81% |
| Colgate-PalmoliveCL | 0.4% | $802,108 | 8,749 | +70% |
| Gilead SciencesGILD | 0.4% | $801,627 | 6,345 | New |
| Edwards LifesciencesEW | 0.4% | $800,028 | 8,844 | New |
| CintasCTAS | 0.4% | $796,485 | 4,683 | New |
| BoeingBA | 0.4% | $794,660 | 11,449 | -34% |
| Northrop GrummanNOC | 0.4% | $794,014 | 1,559 | New |
| AirbnbABNB | 0.4% | $788,052 | 5,507 | New |
| Altria GroupMO | 0.4% | $787,924 | 10,951 | New |
| NewmontNEM | 0.4% | $787,736 | 8,434 | New |
| ConocoPhillipsCOP | 0.4% | $786,977 | 7,570 | New |
| Baker HughesBKR | 0.4% | $786,602 | 14,173 | New |
| 3MMMM | 0.4% | $786,397 | 4,857 | New |
| Ross StoresROST | 0.4% | $786,268 | 3,694 | New |
| NetflixNFLX | 0.3% | $781,687 | 10,948 | New |
| Modine ManufacturingMOD | 0.3% | $780,766 | 2,924 | New |
| Devon EnergyDVN | 0.3% | $779,295 | 18,860 | New |
| TJX CompaniesTJX | 0.3% | $774,468 | 5,112 | New |
| Costco WholesaleCOST | 0.3% | $766,150 | 819 | New |
Showing the largest 100 of 160.
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 114.7% since 31 December 2025.
Where the money is
Technology49.4%
Industrials8.7%
Financial services4.0%
Retail & consumer3.4%
Media & telecom3.3%
Utilities2.3%
Health care2.2%
Materials2.0%
Energy1.8%
Everyday goods1.8%
Other21.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.