UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
12-31-2022
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
Capstone Financial Advisors, Inc.
Address:
2001 BUTTERFIELD ROAD, SUITE 1750
DOWNERS GROVE, IL 60515
Form 13F File Number:
028-15785

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Richard G. Marks
Title:
Secretary/Treasurer
Phone:
630-241-0833


Signature, Place, and Date of Signing:

Richard G. Marks
                         [Signature]
Downers Grove, ILLINOIS
                 [City, State]
02-15-2023
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
140
Form 13F Information table Value Total:
1182064352
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ABBOTT LABSCOM002824100366,6963,340SHSOLECapstone Financial Advisors 0 0 3,340
ABBVIE INCCOM00287Y109810,9095,018SHSOLECapstone Financial Advisors 0 0 5,018
ABRDN ASIA PACIFIC INCOME FUCOM00300910749,97019,000SHSOLECapstone Financial Advisors 0 0 19,000
ACCENTURE PLC IRELANDSHS CLASS AG1151C1012,281,4828,550SHSOLECapstone Financial Advisors 0 0 8,550
ADAMS DIVERSIFIED EQUITY FDCOM006212104538,56337,040SHSOLECapstone Financial Advisors 0 0 37,040
ALASKA AIR GROUP INCCOM011659109428,7139,984SHSOLECapstone Financial Advisors 0 0 9,984
ALERISLIFE INCCOM NEW33832D2055,50010,000SHSOLECapstone Financial Advisors 0 0 10,000
ALPHABET INCCAP STK CL A02079K305658,2847,461SHSOLECapstone Financial Advisors 0 0 7,461
ALPHABET INCCAP STK CL C02079K107339,0493,821SHSOLECapstone Financial Advisors 0 0 3,821
AMAZON COM INCCOM0231351062,591,18130,847SHSOLECapstone Financial Advisors 0 0 30,847
AMGEN INCCOM031162100591,9382,254SHSOLECapstone Financial Advisors 0 0 2,254
APPLE INCCOM03783310021,896,417168,525SHSOLECapstone Financial Advisors 0 0 168,525
ARCHER DANIELS MIDLAND COCOM039483102496,8035,351SHSOLECapstone Financial Advisors 0 0 5,351
AT&T INCCOM00206R102360,87419,602SHSOLECapstone Financial Advisors 0 0 19,602
ATI PHYSICAL THERAPY INCCOM CL A00216W10915,25050,000SHSOLECapstone Financial Advisors 0 0 50,000
BERKSHIRE HATHAWAY INC DELCL B NEW0846707021,212,1243,924SHSOLECapstone Financial Advisors 0 0 3,924
BLACKSTONE MTG TR INCCOM CL A09257W100290,02913,700SHSOLECapstone Financial Advisors 0 0 13,700
BNY MELLON HIGH YIELD STRATESH BEN INT09660L10536,72017,000SHSOLECapstone Financial Advisors 0 0 17,000
BOEING COCOM097023105459,0812,410SHSOLECapstone Financial Advisors 0 0 2,410
BRISTOL-MYERS SQUIBB COCOM110122108969,35513,473SHSOLECapstone Financial Advisors 0 0 13,473
BYLINE BANCORP INCCOM124411109280,71612,221SHSOLECapstone Financial Advisors 0 0 12,221
CARMAX INCCOM143130102304,4505,000SHSOLECapstone Financial Advisors 0 0 5,000
CARROLS RESTAURANT GROUP INCCOM14574X10427,20020,000SHSOLECapstone Financial Advisors 0 0 20,000
CARVANA COCL A14686910294,80020,000SHSOLECapstone Financial Advisors 0 0 20,000
CATERPILLAR INCCOM149123101646,7362,700SHSOLECapstone Financial Advisors 0 0 2,700
CBOE GLOBAL MKTS INCCOM12503M108851,0416,783SHSOLECapstone Financial Advisors 0 0 6,783
CEMEX SAB DE CVSPON ADR NEW15129088940,50010,000SHSOLECapstone Financial Advisors 0 0 10,000
CHEVRON CORP NEWCOM166764100668,3563,724SHSOLECapstone Financial Advisors 0 0 3,724
CHIPOTLE MEXICAN GRILL INCCOM169656105310,798224SHSOLECapstone Financial Advisors 0 0 224
CIGNA CORP NEWCOM1255231001,505,6574,544SHSOLECapstone Financial Advisors 0 0 4,544
CME GROUP INCCOM12572Q1053,816,92822,698SHSOLECapstone Financial Advisors 0 0 22,698
COCA COLA COCOM1912161001,108,03117,419SHSOLECapstone Financial Advisors 0 0 17,419
COHEN & STEERS QUALITY INCOMCOM19247L106274,52823,872SHSOLECapstone Financial Advisors 0 0 23,872
COLGATE PALMOLIVE COCOM194162103378,1924,800SHSOLECapstone Financial Advisors 0 0 4,800
COMPASS INCCL A20464U10023,30010,000SHSOLECapstone Financial Advisors 0 0 10,000
COSTCO WHSL CORP NEWCOM22160K1051,812,4573,970SHSOLECapstone Financial Advisors 0 0 3,970
DARDEN RESTAURANTS INCCOM237194105950,3276,870SHSOLECapstone Financial Advisors 0 0 6,870
DIMENSIONAL ETF TRUSTINTL CORE EQT MK25434V203791,73831,619SHSOLECapstone Financial Advisors 0 0 31,619
DIMENSIONAL ETF TRUSTINTL CORE EQUITY25434V799463,76220,750SHSOLECapstone Financial Advisors 0 0 20,750
DIMENSIONAL ETF TRUSTUS CORE EQT MKT25434V104888,14732,870SHSOLECapstone Financial Advisors 0 0 32,870
DIMENSIONAL ETF TRUSTUS CORE EQUITY 225434V708126,142,0505,195,307SHSOLECapstone Financial Advisors 0 0 5,195,307
DIMENSIONAL ETF TRUSTWORLD EX US CORE25434V88058,041,2112,687,093SHSOLECapstone Financial Advisors 0 0 2,687,093
DISNEY WALT COCOM254687106276,5353,183SHSOLECapstone Financial Advisors 0 0 3,183
DUFF & PHELPS UTLITY AND INFCOM26433C105184,37113,647SHSOLECapstone Financial Advisors 0 0 13,647
EATON CORP PLCSHSG29183103475,4723,029SHSOLECapstone Financial Advisors 0 0 3,029
ELASTIC N VORD SHSN14506104238,1884,625SHSOLECapstone Financial Advisors 0 0 4,625
ENERGY TRANSFER L PCOM UT LTD PTN29273V100128,77310,849SHSOLECapstone Financial Advisors 0 0 10,849
ENTERPRISE PRODS PARTNERS LCOM293792107253,48810,509SHSOLECapstone Financial Advisors 0 0 10,509
EXXON MOBIL CORPCOM30231G1021,394,89412,646SHSOLECapstone Financial Advisors 0 0 12,646
FIFTH THIRD BANCORPCOM316773100830,60025,315SHSOLECapstone Financial Advisors 0 0 25,315
FINANCE OF AMERICA COMPANCOM CL A31738L10731,75025,000SHSOLECapstone Financial Advisors 0 0 25,000
FLEXSHARES TRM STAR DEV MKT33939L80329,919,665495,851SHSOLECapstone Financial Advisors 0 0 495,851
FLEXSHARES TRMORNSTAR USMKT33939L10026,316,310177,095SHSOLECapstone Financial Advisors 0 0 177,095
FLEXSHARES TRSTOXX GLOBR INF33939L79585,416,1291,694,428SHSOLECapstone Financial Advisors 0 0 1,694,428
FORD MTR CO DELCOM345370860871,68374,951SHSOLECapstone Financial Advisors 0 0 74,951
GENERAL MLS INCCOM3703341041,915,72122,847SHSOLECapstone Financial Advisors 0 0 22,847
GRAINGER W W INCCOM384802104560,7001,008SHSOLECapstone Financial Advisors 0 0 1,008
GRUPO TELEVISA S A BSPON ADR REP ORD40049J20691,20020,000SHSOLECapstone Financial Advisors 0 0 20,000
HARBOR CUSTOM DEVELOPMENT IN*W EXP 05/09/20241150T11687030,000SHSOLECapstone Financial Advisors 0 0 30,000
HOME DEPOT INCCOM437076102341,8561,082SHSOLECapstone Financial Advisors 0 0 1,082
HONEYWELL INTL INCCOM438516106242,2991,131SHSOLECapstone Financial Advisors 0 0 1,131
INTEL CORPCOM458140100557,36321,088SHSOLECapstone Financial Advisors 0 0 21,088
INTERCONTINENTAL EXCHANGE INCOM45866F104542,3025,286SHSOLECapstone Financial Advisors 0 0 5,286
INTERNATIONAL BUSINESS MACHSCOM459200101724,8925,145SHSOLECapstone Financial Advisors 0 0 5,145
INVESCO QQQ TRUNIT SER 146090E103331,2001,244SHSOLECapstone Financial Advisors 0 0 1,244
ISHARES S&P GSCI COMMODITY-UNIT BEN INT46428R107203,8089,600SHSOLECapstone Financial Advisors 0 0 9,600
ISHARES TRBLACKROCK ULTRA46434V878661,33213,216SHSOLECapstone Financial Advisors 0 0 13,216
ISHARES TRCORE INTL AGGR46435G67215,087,841317,305SHSOLECapstone Financial Advisors 0 0 317,305
ISHARES TRCORE MSCI INTL46435G326224,2564,006SHSOLECapstone Financial Advisors 0 0 4,006
ISHARES TRCORE MSCI TOTAL46432F83459,180,7781,022,474SHSOLECapstone Financial Advisors 0 0 1,022,474
ISHARES TRCORE S&P SCP ETF464287804271,5192,869SHSOLECapstone Financial Advisors 0 0 2,869
ISHARES TRCORE S&P TTL STK46428715017,365,649204,784SHSOLECapstone Financial Advisors 0 0 204,784
ISHARES TRCORE S&P500 ETF464287200338,638881SHSOLECapstone Financial Advisors 0 0 881
ISHARES TRCORE US AGGBD ET46428722619,359,281199,601SHSOLECapstone Financial Advisors 0 0 199,601
ISHARES TRGLB INFRASTR ETF464288372381,9858,333SHSOLECapstone Financial Advisors 0 0 8,333
ISHARES TRGLOBAL REIT ETF46434V64731,421,5681,383,601SHSOLECapstone Financial Advisors 0 0 1,383,601
ISHARES TRNATIONAL MUN ETF4642884142,419,29122,927SHSOLECapstone Financial Advisors 0 0 22,927
ISHARES TRRUS 1000 ETF464287622159,710,099758,646SHSOLECapstone Financial Advisors 0 0 758,646
ISHARES TRRUS 1000 GRW ETF46428761422,881,961106,805SHSOLECapstone Financial Advisors 0 0 106,805
ISHARES TRRUSSELL 2000 ETF4642876554,769,49627,354SHSOLECapstone Financial Advisors 0 0 27,354
ISHARES TRRUSSELL 3000 ETF464287689500,9062,270SHSOLECapstone Financial Advisors 0 0 2,270
J P MORGAN EXCHANGE TRADED FEQUITY PREMIUM46641Q332474,8808,715SHSOLECapstone Financial Advisors 0 0 8,715
J P MORGAN EXCHANGE TRADED FULTRA SHT MUNCPL46641Q6541,762,23734,872SHSOLECapstone Financial Advisors 0 0 34,872
JOHNSON & JOHNSONCOM4781601041,551,6798,784SHSOLECapstone Financial Advisors 0 0 8,784
JPMORGAN CHASE & COCOM46625H1007,260,80054,145SHSOLECapstone Financial Advisors 0 0 54,145
LAMB WESTON HLDGS INCCOM5132721041,096,21812,267SHSOLECapstone Financial Advisors 0 0 12,267
LOANDEPOT INCCOM CL A53946R10641,25025,000SHSOLECapstone Financial Advisors 0 0 25,000
LOCKHEED MARTIN CORPCOM539830109249,246512SHSOLECapstone Financial Advisors 0 0 512
LUMEN TECHNOLOGIES INCCOM550241103400,38976,703SHSOLECapstone Financial Advisors 0 0 76,703
MASTERCARD INCORPORATEDCL A57636Q104451,8401,299SHSOLECapstone Financial Advisors 0 0 1,299
MCDONALDS CORPCOM58013510151,802,260196,571SHSOLECapstone Financial Advisors 0 0 196,571
MERCK & CO INCCOM58933Y105906,1038,167SHSOLECapstone Financial Advisors 0 0 8,167
META PLATFORMS INCCL A30303M102255,7222,125SHSOLECapstone Financial Advisors 0 0 2,125
MICROSOFT CORPCOM5949181043,335,85913,910SHSOLECapstone Financial Advisors 0 0 13,910
MORGAN STANLEYCOM NEW617446448294,3973,463SHSOLECapstone Financial Advisors 0 0 3,463
MYOVANT SCIENCES LTDCOMG637AM102310,04011,500SHSOLECapstone Financial Advisors 0 0 11,500
NEOGENOMICS INCCOM NEW64049M20992,40010,000SHSOLECapstone Financial Advisors 0 0 10,000
NETFLIX INCCOM64110L106245,045831SHSOLECapstone Financial Advisors 0 0 831
NEXTERA ENERGY INCCOM65339F101202,8792,427SHSOLECapstone Financial Advisors 0 0 2,427
NOODLES & COCOM CL A65540B105137,25025,000SHSOLECapstone Financial Advisors 0 0 25,000
NUVEEN NASDAQ 100 DYNAMIC OVCOM SHS670699107268,55013,145SHSOLECapstone Financial Advisors 0 0 13,145
NUVEEN S&P 500 BUY-WRITE INCCOM6706ER101334,25126,423SHSOLECapstone Financial Advisors 0 0 26,423
NVIDIA CORPORATIONCOM67066G104635,2714,347SHSOLECapstone Financial Advisors 0 0 4,347
PALANTIR TECHNOLOGIES INCCL A69608A10870,62011,000SHSOLECapstone Financial Advisors 0 0 11,000
PEPSICO INCCOM713448108535,1432,962SHSOLECapstone Financial Advisors 0 0 2,962
PFIZER INCCOM717081103594,57311,604SHSOLECapstone Financial Advisors 0 0 11,604
POLISHED COM INC*W EXP 06/02/20228252C1174,00050,000SHSOLECapstone Financial Advisors 0 0 50,000
POLISHED COM INCCOM28252C1098,66615,000SHSOLECapstone Financial Advisors 0 0 15,000
PORTILLOS INCCOM CL A73642K106370,41522,697SHSOLECapstone Financial Advisors 0 0 22,697
PROCTER AND GAMBLE COCOM742718109488,1893,221SHSOLECapstone Financial Advisors 0 0 3,221
QUALCOMM INCCOM7475251031,947,10517,711SHSOLECapstone Financial Advisors 0 0 17,711
REGIS CORP MINNCOM75893210712,20010,000SHSOLECapstone Financial Advisors 0 0 10,000
SCHWAB STRATEGIC TRUS BRD MKT ETF8085241021,540,67234,382SHSOLECapstone Financial Advisors 0 0 34,382
SPDR INDEX SHS FDSDJ GLB RL ES ETF78463X7492,552,14262,400SHSOLECapstone Financial Advisors 0 0 62,400
SPDR S&P 500 ETF TRTR UNIT78462F1032,635,6806,892SHSOLECapstone Financial Advisors 0 0 6,892
SPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP78467Y1077,304,27816,496SHSOLECapstone Financial Advisors 0 0 16,496
TESLA INCCOM88160R101491,1183,987SHSOLECapstone Financial Advisors 0 0 3,987
TEXAS INSTRS INCCOM882508104232,7951,409SHSOLECapstone Financial Advisors 0 0 1,409
TRI CONTL CORPCOM8954361031,935,39875,513SHSOLECapstone Financial Advisors 0 0 75,513
U S XPRESS ENTERPRISES INCCOM CL A90338N20236,20020,000SHSOLECapstone Financial Advisors 0 0 20,000
UNILEVER PLCSPON ADR NEW9047677041,243,84724,704SHSOLECapstone Financial Advisors 0 0 24,704
UNITEDHEALTH GROUP INCCOM91324P102419,372791SHSOLECapstone Financial Advisors 0 0 791
UPHEALTH INC*W EXP 06/08/20291532B11926020,000SHSOLECapstone Financial Advisors 0 0 20,000
VANGUARD BD INDEX FDSTOTAL BND MRKT92193783585,262,3481,186,837SHSOLECapstone Financial Advisors 0 0 1,186,837
VANGUARD CHARLOTTE FDSTOTAL INT BD ETF92203J40733,597,481708,359SHSOLECapstone Financial Advisors 0 0 708,359
VANGUARD INDEX FDSS&P 500 ETF SHS922908363296,331843SHSOLECapstone Financial Advisors 0 0 843
VANGUARD INDEX FDSTOTAL STK MKT922908769154,316,990807,139SHSOLECapstone Financial Advisors 0 0 807,139
VANGUARD INTL EQUITY INDEX FALLWRLD EX US922042775363,8047,256SHSOLECapstone Financial Advisors 0 0 7,256
VANGUARD MUN BD FDSTAX EXEMPT BD9229077464,122,04683,290SHSOLECapstone Financial Advisors 0 0 83,290
VANGUARD SCOTTSDALE FDSVNG RUS1000IDX92206C7303,744,50421,488SHSOLECapstone Financial Advisors 0 0 21,488
VANGUARD SCOTTSDALE FDSVNG RUS2000IDX92206C6641,970,74328,005SHSOLECapstone Financial Advisors 0 0 28,005
VANGUARD SPECIALIZED FUNDSDIV APP ETF9219088448,761,47857,698SHSOLECapstone Financial Advisors 0 0 57,698
VANGUARD STAR FDSVG TL INTL STK F92190976868,504,1771,324,520SHSOLECapstone Financial Advisors 0 0 1,324,520
VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT921943858391,4859,328SHSOLECapstone Financial Advisors 0 0 9,328
VANGUARD WORLD FDESG US STK ETF921910733466,3437,081SHSOLECapstone Financial Advisors 0 0 7,081
VERIZON COMMUNICATIONS INCCOM92343V104348,2398,839SHSOLECapstone Financial Advisors 0 0 8,839
VINCI PARTNERS INVTS LTDCOM CL AG9451V10990,40010,000SHSOLECapstone Financial Advisors 0 0 10,000
WALGREENS BOOTS ALLIANCE INCCOM9314271084,759,660127,400SHSOLECapstone Financial Advisors 0 0 127,400
WESTPORT FUEL SYSTEMS INCCOM NEW96090830916,66821,512SHSOLECapstone Financial Advisors 0 0 21,512
YUM BRANDS INCCOM988498101275,8842,154SHSOLECapstone Financial Advisors 0 0 2,154