A message from our CEO: COVID-19 update

To our clients and partners.

Our thoughts are with you all during these challenging times.

Since the onset of this pandemic we have prioritized our commitment to our team’s health and safety. We were prepared for remote operations long before mandates for social distancing were implemented.

Progressive transparency is a key value to us at Capstone. Employing it with discipline through these uncertain times has enabled us to adapt proactively to evolving health and safety challenges, keeping our operations uninterrupted and our investment strategies agile, while we continue to deliver exceptional client service.

I am proud of each and every member of our team and continue to support them in their commitment to their families, communities and our clients and partners through the ongoing social and economic impacts of this unsettling time.

Please take care of yourselves.

Paul Britton
CEO

A particular approach.

Capstone’s strategies seek to generate returns not correlated with market performance. We believe in a diversified investment approach across asset classes and geographic regions that deploys opportunistic trading strategies using a range of instruments, primarily within the derivatives space.

“We enjoy inclement weather.”

— Paul Britton, Chief Executive Officer

Philosophy.

Experience, data, discipline and collaboration

Capstone’s experienced, disciplined and collaborative team leverage our advanced infrastructure, which we believe differentiates our approach. Our infrastructure allows us to process and analyze vast quantities of data across asset classes. Our experienced portfolio managers review this information and share their insights, a collective approach that we believe grows our advantage exponentially.

“We share a lot of ideas. We think that's an advantage because we're trading a broad range of asset classes. Even though our investment pods are focused on a particular strategy or asset class, they're getting information on other asset classes from fellow pod managers.”
— Matt Tonelli, Head of Trading

Investment strategies.

CVM

Capstone’s primary investment strategy is centered around global derivatives and volatility trading. Our strategy seeks to capitalize on perceived inefficiencies in the pricing of volatility within equities, fixed income, currencies, credit and commodities in the US, European, and Asian derivatives markets. Volatility products are also traded alongside other relative value opportunities often directly related to market volatility. We seek to extract alpha and non-correlated returns by dynamically employing a mix of Risk-On strategies during stable market conditions, and Risk-Off strategies designed for markets that are more volatile. By utilizing a mix of these strategies, and maintaining a flexible and liquid portfolio, Capstone seeks to take advantage of varying market environments and create diversification.

“We aim to identify and extract the structural dislocations within the marketplace that have a known alpha factor. We bring humility to our work every day. We don’t have some grand investment philosophy; it's simply that we work hard to extract those dislocations, leveraging the infrastructure that we built. We go towards those dislocations - we’re drawn to those anomalies.”
— paul britton, chief executive officer

Capstone Solutions

Capstone developed its customized solutions platform in December 2010 to create volatility and derivatives-based solutions in collaboration with our investors. Strategies include: Equity Replacement, Tail Risk Protection, Cross Asset Volatility Harvesting, Longer Dated Relative Value Opportunities, Dispersion and Bespoke Tactical Opportunities.

“Capstone’s investment team brings years of experience in trading options to every decision. Our team has endured and learned from some of the biggest turns the market has seen over the past several decades – you can’t teach that kind of resilience.”
— Jason Goldberg, senior portfolio manager
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Disclaimer: This website is for informational purposes only and should not be construed as legal, tax, investment or other advice. It does not constitute an offer to sell, or the solicitation of an offer to buy, any product, security or service. Any such offer or solicitation will only be made to qualified offerees.

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