Capstone Financial Advisors, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Capstone Financial Advisors, Inc. reported 182 stock positions worth $1.8 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 16.8% of the portfolio, followed by iShares Russell 1000 ETF (IWB, 13.0%) and Dimensional US Core Equity 2 (DFAC, 11.2%). Compared with Q2 2025, it opened 19 new positions, sold out of 12, added to 85 and reduced 48. The biggest buy was Apple (AAPL, shares +2%) and the biggest sale McDonald's (MCD, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- DOWNERS GROVE, IL
- CIK
- 0001599217
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001599217-25-000007 ↗ filed Nov 14, 2025
Holdings Value
Holdings 182 stocks · $1.8B
| VTI VG Morningstar TS MKT ETF-US | 16.81% | 944,996 | $310.1M | Add +0.3% |
| IWB iShares Russell 1000 ETF | 12.96% | 654,417 | $239.2M | Reduce -1.0% |
| DFAC Dimensional US Core Equity 2 | 11.25% | 5,381,765 | $207.6M | Add +0.5% |
| NFRA NT GLBL BRD Infra ETF | 7.34% | 2,153,565 | $135.5M | Add +1.4% |
| BND Vanguard Total Bond Market | 6.96% | 1,725,971 | $128.4M | Add +1.9% |
| VXUS Vanguard Total Intl Stock | 4.56% | 1,146,203 | $84.2M | Add +0.0% |
| IXUS iShares Core Intl Stock ETF | 4.10% | 916,702 | $75.7M | Reduce -0.4% |
| DFAX Dimensional World Ex US Core | 3.56% | 2,092,625 | $65.7M | Add +0.3% |
| MCD McDonald's Corp. | 3.32% | 201,654 | $61.3M | Reduce -2.1% |
| IWF iShares Russell 1000 Growth | 2.92% | 114,828 | $53.8M | Reduce -0.3% |
| BNDX Vanguard Total Intl Bond ETF | 2.87% | 1,068,881 | $52.9M | Add +1.8% |
| TILT NT Mstar US Ftilt ETF | 2.42% | 184,195 | $44.6M | Reduce -2.7% |
| TLTD NT Dev Exus Ftilt ETF | 2.22% | 460,998 | $40.9M | Reduce -0.1% |
| AAPL Apple Inc. | 2.08% | 150,363 | $38.3M | Add +2.4% |
| ITOT iShares Core S&P Total U.S. | 1.69% | 213,650 | $31.1M | Reduce -0.8% |
| REET iShares Global REIT ETF | 1.17% | 844,361 | $21.6M | Add +0.4% |
| JPM JPMorgan Chase & Co. | 0.95% | 55,627 | $17.5M | Add +0.8% |
| NVDA Nvidia Corp. | 0.78% | 77,280 | $14.4M | Add +49.6% |
| AVRE Avantis Real Estate ETF | 0.73% | 304,321 | $13.5M | Reduce -0.4% |
| MDY State Street SPDR S&P Midcap | 0.50% | 15,340 | $9.1M | Reduce -0.7% |
| AGG iShares Core U.S. Aggregate | 0.49% | 90,901 | $9.1M | Reduce -0.0% |
| AMZN Amazon.com Inc. | 0.48% | 40,024 | $8.8M | Add +16.8% |
| VIG Vanguard Dividend Apprec ETF | 0.47% | 40,513 | $8.7M | Reduce -1.1% |
| IWM iShares Russell 2000 ETF | 0.47% | 35,523 | $8.6M | Add +0.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.45% | 164,973 | $8.3M | Reduce -8.1% |
| MSFT Microsoft Corp. | 0.44% | 15,664 | $8.1M | Add +14.8% |
| VONE Vanguard Russell 1000 | 0.38% | 23,036 | $7.0M | Reduce -1.0% |
| IGF iShares Global Infrastructur | 0.37% | 111,329 | $6.8M | Reduce -0.1% |
| IAGG iShares Intl Aggregate Bond | 0.34% | 124,141 | $6.4M | Add +2.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.33% | 8 | $6.0M | No change |
| MSTR Strategy Inc. | 0.29% | 16,698 | $5.4M | Add +30.7% |
| CME Cme Group Inc. | 0.27% | 18,105 | $4.9M | Add +0.0% |
| VTWO Vanguard Russell 2000 ETF | 0.26% | 49,378 | $4.8M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 0.21% | 4,145 | $3.8M | Add +7.9% |
| WMT Walmart Inc. | 0.18% | 31,578 | $3.3M | Reduce -1.8% |
| GOOGL Alphabet Inc. Class A | 0.17% | 12,974 | $3.2M | Add +203.1% |
| RWO State Street SPDR Dow Jones | 0.16% | 66,212 | $3.0M | Reduce -0.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.16% | 4,341 | $2.9M | Add +12.6% |
| QCOM Qualcomm Inc. | 0.16% | 17,290 | $2.9M | Add +1.3% |
| CBOE Cboe Global Markets Inc. | 0.15% | 11,110 | $2.7M | Add +74.1% |
| DFAU Dimensional US Core Equity M | 0.15% | 58,932 | $2.7M | Add +0.0% |
| TY Tri-Continental Corp. | 0.14% | 75,513 | $2.6M | No change |
| DFAI Dimensional International Co. | 0.13% | 67,964 | $2.5M | Reduce -6.1% |
| META Meta Platforms Inc. Class A | 0.12% | 2,903 | $2.1M | Add +26.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.11% | 4,217 | $2.1M | Add +7.7% |
| ETN Eaton Corp. PLC | 0.11% | 5,416 | $2.0M | Add +0.2% |
| MUB iShares National Muni Bond E | 0.11% | 18,964 | $2.0M | Add +1.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.09% | 2,886 | $1.7M | Add +36.0% |
| UL Unilever PLC | 0.09% | 26,596 | $1.6M | Add +0.8% |
| XOM Exxon Mobil Corp. | 0.08% | 13,351 | $1.5M | Add +1.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.08% | 5,195 | $1.5M | Add +4.4% |
| VOO Vanguard S&P 500 ETF | 0.08% | 2,358 | $1.4M | Reduce -15.2% |
| AVGO Broadcom Inc. | 0.07% | 4,187 | $1.4M | Reduce -4.2% |
| CAT Caterpillar Inc. | 0.07% | 2,801 | $1.3M | Add +1.3% |
| TSLA Tesla Inc. | 0.07% | 2,898 | $1.3M | Reduce -9.0% |
| DJT Trump Media & Technology Gro | 0.07% | 77,527 | $1.3M | Add +0.0% |
| DRI Darden Restaurants Inc. | 0.07% | 6,626 | $1.3M | Add +0.0% |
| CI The Cigna Group | 0.07% | 4,186 | $1.2M | Add +0.1% |
| LUMN Lumen Technologies Inc. | 0.06% | 185,686 | $1.1M | No change |
| KO The Coca-Cola Co. | 0.06% | 16,789 | $1.1M | Add +1.1% |
| GIS General Mills Inc. | 0.06% | 21,478 | $1.1M | No change |
| ALK Alaska Air Group Inc. | 0.05% | 19,540 | $973K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.05% | 5,324 | $971K | Reduce -21.6% |
| ADX Adams Diversified Equity | 0.05% | 42,062 | $938K | Add +1.1% |
| CMCL Caledonia Mining Corp. PLC | 0.05% | 25,699 | $931K | New |
| JNJ Johnson & Johnson | 0.05% | 4,865 | $902K | Add +16.5% |
| IWV iShares Russell 3000 ETF | 0.05% | 2,346 | $889K | Add +0.2% |
| ABBV Abbvie Inc. | 0.05% | 3,824 | $885K | Add +28.7% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.05% | 928 | $884K | Add +0.2% |
| IVV iShares Core S&P 500 ETF | 0.05% | 1,315 | $880K | Reduce -8.0% |
| HD Home Depot Inc. | 0.05% | 2,155 | $873K | Add +77.7% |
| FITB Fifth Third Bancorp | 0.05% | 19,517 | $869K | Reduce -9.5% |
| ICE Intercontinental Exchange Inc. | 0.05% | 5,022 | $846K | Add +0.7% |
| BMY Bristol-Myers Squibb Co. | 0.05% | 18,541 | $836K | Add +1.2% |
| JEPI JPMorgan Equity Premium Inco | 0.04% | 14,533 | $830K | Add +35.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.04% | 1,559 | $765K | Add +2.4% |
| MRK Merck & Co. Inc. | 0.04% | 9,013 | $756K | Reduce -0.2% |
| LW Lamb Weston Holdings Inc. | 0.04% | 12,419 | $721K | Add +0.3% |
| NFLX Netflix Inc. | 0.04% | 599 | $718K | Add +1.2% |
| ACN Accenture PLC Class A | 0.04% | 2,864 | $706K | Reduce -48.6% |
| DFIC Dimensional International Co. | 0.04% | 20,750 | $680K | No change |
| GE General Electric filed as GE AEROSPACE | 0.04% | 2,157 | $649K | Reduce -36.9% |
| INTC Intel Corp. | 0.04% | 19,343 | $649K | Reduce -35.0% |
| AXP American Express Co. | 0.03% | 1,939 | $644K | Add +135.0% |
| ESGV Vanguard ESG US Stock ETF | 0.03% | 5,344 | $633K | Add +0.7% |
| EZBC Franklin Bitcoin ETF | 0.03% | 9,250 | $612K | No change |
| SCHB Schwab US Broad Market ETF | 0.03% | 23,503 | $604K | Add +0.1% |
| CVX Chevron Corp. | 0.03% | 3,875 | $602K | Add +0.9% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.03% | 11,603 | $592K | Reduce -10.9% |
| GOOG Alphabet Inc. Class C | 0.03% | 2,396 | $583K | Reduce -0.2% |
| AGGY Wisdomtree Yield Enhanced US | 0.03% | 12,976 | $574K | No change |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.03% | 9,812 | $564K | New |
| CMG Chipotle Mexican Grill Inc. | 0.03% | 14,399 | $564K | Reduce -3.6% |
| GLD SPDR Gold Shares | 0.03% | 1,583 | $563K | Add +110.0% |
| ICSH iShares Ultra Short Duration | 0.03% | 11,079 | $562K | Add +1.0% |
| PG The Procter & Gamble Co. | 0.03% | 3,485 | $535K | Add +4.9% |
| V Visa Inc. Class A | 0.03% | 1,554 | $531K | Add +138.7% |
| OPEN Opendoor Technologies Inc. | 0.03% | 65,253 | $520K | New |
| VEA Vanguard Ftse Developed ETF | 0.03% | 7,832 | $469K | Reduce -2.3% |
| LLY Eli Lilly & Co. | 0.03% | 614 | $469K | Add +59.9% |
Portfolio Sells Q2 2025 → Q3 2025
| MCD McDonald's Corp. | Reduce -2.1% | 3.32% | −0.17 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.08 |
| IWB iShares Russell 1000 ETF | Reduce -1.0% | 12.96% | −0.07 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -8.1% | 0.45% | −0.06 |
| ACN Accenture PLC Class A | Reduce -48.6% | 0.04% | −0.06 |
| VST Vistra Corp. | Sold out | 0.00% | −0.05 |
| AVRE Avantis Real Estate ETF | Reduce -0.4% | 0.73% | −0.05 |
| TILT NT Mstar US Ftilt ETF | Reduce -2.7% | 2.42% | −0.04 |
| CEG Constellation Energy | Reduce -68.8% | 0.02% | −0.04 |
| AGG iShares Core U.S. Aggregate | Reduce -0.0% | 0.49% | −0.03 |
| IXUS iShares Core Intl Stock ETF | Reduce -0.4% | 4.10% | −0.03 |
| TLTD NT Dev Exus Ftilt ETF | Reduce -0.1% | 2.22% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Reduce -3.6% | 0.03% | −0.02 |
| SCHF Schwab Intl Equity ETF | Reduce -55.6% | 0.01% | −0.02 |
| SPYV SS SPDR P S&P 500 Value ETF | Sold out | 0.00% | −0.02 |
| GE General Electric | Reduce -36.9% | 0.04% | −0.02 |
| IGF iShares Global Infrastructur | Reduce -0.1% | 0.37% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -15.2% | 0.08% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Sold out | 0.00% | −0.01 |
| CE Celanese Corp. | Sold out | 0.00% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.1% | 0.47% | −0.01 |
| MDY State Street SPDR S&P Midcap | Reduce -0.7% | 0.50% | −0.01 |
| IGIB iShares 5-10Y Inv Grade Corp. | Sold out | 0.00% | −0.01 |
| DFAI Dimensional International Co. | Reduce -6.1% | 0.13% | −0.01 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.01 |
| JMST JPM Ultra-Short Muni Income | Reduce -10.9% | 0.03% | −0.01 |
| WMT Walmart Inc. | Reduce -1.8% | 0.18% | −0.01 |
| RWO State Street SPDR Dow Jones | Reduce -0.4% | 0.16% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -21.6% | 0.02% | −0.01 |
| FICO Fair Isaac Corp. | Reduce -3.9% | 0.01% | −0.01 |
| CALY Callaway Golf Company | Sold out | 0.00% | −0.00 |
| FITB Fifth Third Bancorp | Reduce -9.5% | 0.05% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -8.0% | 0.05% | −0.00 |
| DIS The Walt Disney Co. | Reduce -3.7% | 0.02% | −0.00 |
| INTC Intel Corp. | Reduce -35.0% | 0.04% | −0.00 |
| BNDW Vanguard Total World Bond Et | Reduce -13.5% | 0.01% | −0.00 |
| ALL Allstate Corp. | Reduce -7.5% | 0.02% | −0.00 |
| VONE Vanguard Russell 1000 | Reduce -1.0% | 0.38% | −0.00 |
| PLUG Plug Power Inc. | Sold out | 0.00% | −0.00 |
| XLI SS Industrial Select Sector | Reduce -9.2% | 0.01% | −0.00 |
| VIVID SEATS INC | Sold out | 0.00% | −0.00 |
| ITOT iShares Core S&P Total U.S. | Reduce -0.8% | 1.69% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -4.3% | 0.02% | −0.00 |
| PLTR Palantir Technologies Inc. Class A | Reduce -21.6% | 0.05% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -2.3% | 0.03% | −0.00 |
| IVW iShares S&P 500 Growth ETF | Reduce -10.3% | 0.01% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Reduce -3.8% | 0.02% | −0.00 |
| WOLF Wolfspeed Inc. | Sold out | 0.00% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -0.2% | 0.04% | −0.00 |
| GURE Gulf Resources Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +2.4% | 2.08% | +0.33 |
| NVDA Nvidia Corp. | Add +49.6% | 0.78% | +0.31 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.3% | 16.81% | +0.19 |
| GOOGL Alphabet Inc. Class A | Add +203.1% | 0.17% | +0.13 |
| DFAC Dimensional US Core Equity 2 | Add +0.5% | 11.25% | +0.11 |
| CBOE Cboe Global Markets Inc. | Add +74.1% | 0.15% | +0.06 |
| CMCL Caledonia Mining Corp. PLC | New | 0.05% | +0.05 |
| MSFT Microsoft Corp. | Add +14.8% | 0.44% | +0.05 |
| AMZN Amazon.com Inc. | Add +16.8% | 0.48% | +0.04 |
| JEPQ JPM Nasdaq Equity Premium | New | 0.03% | +0.03 |
| OPEN Opendoor Technologies Inc. | New | 0.03% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +36.0% | 0.09% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +0.8% | 0.95% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +0.2% | 0.47% | +0.02 |
| HD Home Depot Inc. | Add +77.7% | 0.05% | +0.02 |
| HBAN Huntington Bancshares Inc. | New | 0.02% | +0.02 |
| AXP American Express Co. | Add +135.0% | 0.03% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | New | 0.02% | +0.02 |
| IFRA iShares US Infrastructure | New | 0.02% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +12.6% | 0.16% | +0.02 |
| AMD Advanced Micro Devices | New | 0.02% | +0.02 |
| META Meta Platforms Inc. Class A | Add +26.6% | 0.12% | +0.02 |
| GLD SPDR Gold Shares | Add +110.0% | 0.03% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.02% | +0.02 |
| ABBV Abbvie Inc. | Add +28.7% | 0.05% | +0.02 |
| V Visa Inc. Class A | Add +138.7% | 0.03% | +0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.01% | +0.01 |
| PZA Invesco National Amt-Free Mu | New | 0.01% | +0.01 |
| UPS United Parcel Service Class B | New | 0.01% | +0.01 |
| PFE Pfizer Inc. | New | 0.01% | +0.01 |
| USRT iShares Core US REIT ETF | New | 0.01% | +0.01 |
| ANET Arista Networks Inc. | New | 0.01% | +0.01 |
| URI United Rentals Inc. | New | 0.01% | +0.01 |
| JNJ Johnson & Johnson | Add +16.5% | 0.05% | +0.01 |
| UBER Uber Technologies Inc. | New | 0.01% | +0.01 |
| XLV SS Health Care Select Sector | New | 0.01% | +0.01 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 0.01% | +0.01 |
| MU Micron Technology Inc. | New | 0.01% | +0.01 |
| CAT Caterpillar Inc. | Add +1.3% | 0.07% | +0.01 |
| ORCL Oracle Corp. | Add +42.0% | 0.02% | +0.01 |
| JEPI JPMorgan Equity Premium Inco | Add +35.8% | 0.04% | +0.01 |
| LLY Eli Lilly & Co. | Add +59.9% | 0.03% | +0.01 |
| HOOD Robinhood Markets Inc. Class A | Add +5.3% | 0.02% | +0.01 |
| LRCX Lam Research Corp. | Add +9.2% | 0.02% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +7.7% | 0.11% | +0.00 |
| PTLO Portillo's Inc. Class A | Add +147.4% | 0.02% | +0.00 |
| CSCO Cisco Systems Inc. | Add +35.8% | 0.02% | +0.00 |
| GLDM SPDR Gold Minishares Trust | Add +9.5% | 0.02% | +0.00 |
| GEV GE Vernova Inc. | Add +7.3% | 0.02% | +0.00 |
| DFAX Dimensional World Ex US Core | Add +0.3% | 3.56% | +0.00 |
Notes & Other Activity Q2 2025 → Q3 2025
| MSTR Strategy Inc. | CL A NEW · principal | Sold out | 4,000 | $1.6Mbefore exit |
| MCD McDonald's Corp. | COM · principal | Sold out | 1,200 | $351Kbefore exit |
| URI United Rentals Inc. | COM · principal | Sold out | 300 | $226Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 191 | $2.1B | VTI, IWB, DFAC, NFRA, BND |
| Q1 2026 | 185 | $1.9B | VTI, IWB, DFAC, NFRA, BND |
| Q4 2025 | 184 | $1.9B | VTI, IWB, DFAC, NFRA, BND |
| Q3 2025 | 182 | $1.8B | VTI, IWB, DFAC, NFRA, BND |
| Q2 2025 | 175 | $1.7B | VTI, IWB, DFAC, NFRA, BND |
| Q1 2025 | 156 | $1.6B | VTI, IWB, DFAC, BND, NFRA |
| Q4 2024 | 155 | $1.6B | VTI, IWB, DFAC, BND, NFRA |
| Q3 2024 | 157 | $1.6B | VTI, IWB, DFAC, NFRA, BND |
| Q2 2024 | 157 | $1.5B | VTI, IWB, DFAC, BND, NFRA |
| Q1 2024 | 150 | $1.5B | VTI, IWB, DFAC, BND, NFRA |