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:
03-31-2023
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:
6302410833


Signature, Place, and Date of Signing:

Richard G. Marks
                         [Signature]
Downers Grove, ILLINOIS
                 [City, State]
05-12-2023
                           [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:
141
Form 13F Information table Value Total:
1264928777
          (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 LABSCOM002824100338,3773,342SHSOLECapstone Financial Advisors 0 0 3,342
ABBVIE INCCOM00287Y109763,6294,792SHSOLECapstone Financial Advisors 0 0 4,792
ABRDN ASIA PACIFIC INCOME FUCOM00300910750,54019,000SHSOLECapstone Financial Advisors 0 0 19,000
ACCENTURE PLC IRELANDSHS CLASS AG1151C1012,317,3488,108SHSOLECapstone Financial Advisors 0 0 8,108
ADAMS DIVERSIFIED EQUITY FDCOM006212104576,50937,074SHSOLECapstone Financial Advisors 0 0 37,074
ALASKA AIR GROUP INCCOM011659109507,08712,085SHSOLECapstone Financial Advisors 0 0 12,085
ALPHABET INCCAP STK CL A02079K305749,1397,222SHSOLECapstone Financial Advisors 0 0 7,222
AMAZON COM INCCOM0231351063,286,62531,819SHSOLECapstone Financial Advisors 0 0 31,819
AMGEN INCCOM031162100509,4252,107SHSOLECapstone Financial Advisors 0 0 2,107
APPLE INCCOM03783310027,460,625166,529SHSOLECapstone Financial Advisors 0 0 166,529
ARCHER DANIELS MIDLAND COCOM039483102437,9205,497SHSOLECapstone Financial Advisors 0 0 5,497
ARROW ELECTRS INCCOM042735100233,1331,867SHSOLECapstone Financial Advisors 0 0 1,867
ASSERTIO HOLDINGS INCCOM NEW04546C20568,63710,775SHSOLECapstone Financial Advisors 0 0 10,775
AT&T INCCOM00206R102281,37614,617SHSOLECapstone Financial Advisors 0 0 14,617
ATI PHYSICAL THERAPY INCCOM CL A00216W10912,71050,000SHSOLECapstone Financial Advisors 0 0 50,000
BERKSHIRE HATHAWAY INC DELCL B NEW0846707021,204,5123,901SHSOLECapstone Financial Advisors 0 0 3,901
BLACKSTONE MTG TR INCCOM CL A09257W100330,22518,500SHSOLECapstone Financial Advisors 0 0 18,500
BNY MELLON HIGH YIELD STRATESH BEN INT09660L10536,89017,000SHSOLECapstone Financial Advisors 0 0 17,000
BOEING COCOM097023105518,5422,441SHSOLECapstone Financial Advisors 0 0 2,441
BRISTOL-MYERS SQUIBB COCOM110122108949,64013,701SHSOLECapstone Financial Advisors 0 0 13,701
BYLINE BANCORP INCCOM124411109313,94514,521SHSOLECapstone Financial Advisors 0 0 14,521
CARMAX INCCOM143130102321,4005,000SHSOLECapstone Financial Advisors 0 0 5,000
CARROLS RESTAURANT GROUP INCCOM14574X10444,60020,000SHSOLECapstone Financial Advisors 0 0 20,000
CATERPILLAR INCCOM149123101630,2832,754SHSOLECapstone Financial Advisors 0 0 2,754
CBOE GLOBAL MKTS INCCOM12503M108911,3446,789SHSOLECapstone Financial Advisors 0 0 6,789
CEMEX SAB DE CVSPON ADR NEW15129088955,30010,000SHSOLECapstone Financial Advisors 0 0 10,000
CHEVRON CORP NEWCOM166764100612,2683,753SHSOLECapstone Financial Advisors 0 0 3,753
CHIPOTLE MEXICAN GRILL INCCOM169656105382,657224SHSOLECapstone Financial Advisors 0 0 224
CME GROUP INCCOM12572Q1054,309,47322,501SHSOLECapstone Financial Advisors 0 0 22,501
COCA COLA COCOM1912161001,082,45017,450SHSOLECapstone Financial Advisors 0 0 17,450
COHEN & STEERS QUALITY INCOMCOM19247L106284,55523,872SHSOLECapstone Financial Advisors 0 0 23,872
COLGATE PALMOLIVE COCOM194162103360,7204,800SHSOLECapstone Financial Advisors 0 0 4,800
COMPASS INCCL A20464U10032,30010,000SHSOLECapstone Financial Advisors 0 0 10,000
COSTCO WHSL CORP NEWCOM22160K1051,968,0083,961SHSOLECapstone Financial Advisors 0 0 3,961
DARDEN RESTAURANTS INCCOM2371941051,065,9506,870SHSOLECapstone Financial Advisors 0 0 6,870
DIMENSIONAL ETF TRUSTINTL CORE EQT MK25434V203845,48331,372SHSOLECapstone Financial Advisors 0 0 31,372
DIMENSIONAL ETF TRUSTINTL CORE EQUITY25434V799499,34920,750SHSOLECapstone Financial Advisors 0 0 20,750
DIMENSIONAL ETF TRUSTUS CORE EQT MKT25434V104945,78832,874SHSOLECapstone Financial Advisors 0 0 32,874
DIMENSIONAL ETF TRUSTUS CORE EQUITY 225434V708134,314,8435,271,383SHSOLECapstone Financial Advisors 0 0 5,271,383
DIMENSIONAL ETF TRUSTWORLD EX US CORE25434V88062,711,0862,719,475SHSOLECapstone Financial Advisors 0 0 2,719,475
DISNEY WALT COCOM254687106322,4153,220SHSOLECapstone Financial Advisors 0 0 3,220
DUFF & PHELPS UTLITY AND INFCOM26433C105181,91513,647SHSOLECapstone Financial Advisors 0 0 13,647
EATON CORP PLCSHSG29183103519,0663,029SHSOLECapstone Financial Advisors 0 0 3,029
ELASTIC N VORD SHSN14506104267,7884,625SHSOLECapstone Financial Advisors 0 0 4,625
ENERGY TRANSFER L PCOM UT LTD PTN29273V100138,50311,107SHSOLECapstone Financial Advisors 0 0 11,107
ENTERPRISE PRODS PARTNERS LCOM293792107279,62310,796SHSOLECapstone Financial Advisors 0 0 10,796
EXXON MOBIL CORPCOM30231G1021,378,32812,569SHSOLECapstone Financial Advisors 0 0 12,569
FIFTH THIRD BANCORPCOM316773100673,99225,300SHSOLECapstone Financial Advisors 0 0 25,300
FINANCE OF AMERICA COMPANCOM CL A31738L10731,00025,000SHSOLECapstone Financial Advisors 0 0 25,000
FLEXSHARES TRM STAR DEV MKT33939L80331,879,938494,717SHSOLECapstone Financial Advisors 0 0 494,717
FLEXSHARES TRMORNSTAR USMKT33939L10027,628,842176,159SHSOLECapstone Financial Advisors 0 0 176,159
FLEXSHARES TRSTOXX GLOBR INF33939L79588,157,9361,696,977SHSOLECapstone Financial Advisors 0 0 1,696,977
FORD MTR CO DELCOM345370860982,70877,993SHSOLECapstone Financial Advisors 0 0 77,993
GENERAL MLS INCCOM3703341041,952,50522,847SHSOLECapstone Financial Advisors 0 0 22,847
GRAINGER W W INCCOM384802104694,3211,008SHSOLECapstone Financial Advisors 0 0 1,008
GRUPO TELEVISA S A BSPON ADR REP ORD40049J206132,25025,000SHSOLECapstone Financial Advisors 0 0 25,000
HARBOR CUSTOM DEVELOPMENT IN*W EXP 05/09/20241150T11672330,000SHSOLECapstone Financial Advisors 0 0 30,000
HOME DEPOT INCCOM437076102314,7841,067SHSOLECapstone Financial Advisors 0 0 1,067
HONEYWELL INTL INCCOM438516106221,6901,160SHSOLECapstone Financial Advisors 0 0 1,160
INTEL CORPCOM458140100617,75218,909SHSOLECapstone Financial Advisors 0 0 18,909
INTERCONTINENTAL EXCHANGE INCOM45866F104553,2545,305SHSOLECapstone Financial Advisors 0 0 5,305
INTERNATIONAL BUSINESS MACHSCOM459200101622,8754,752SHSOLECapstone Financial Advisors 0 0 4,752
INVESCO QQQ TRUNIT SER 146090E103399,2911,244SHSOLECapstone Financial Advisors 0 0 1,244
ISHARES TRBLACKROCK ULTRA46434V878624,37912,425SHSOLECapstone Financial Advisors 0 0 12,425
ISHARES TRCORE INTL AGGR46435G67214,632,390298,925SHSOLECapstone Financial Advisors 0 0 298,925
ISHARES TRCORE MSCI INTL46435G326236,7413,915SHSOLECapstone Financial Advisors 0 0 3,915
ISHARES TRCORE MSCI TOTAL46432F83463,508,9241,025,164SHSOLECapstone Financial Advisors 0 0 1,025,164
ISHARES TRCORE S&P SCP ETF464287804277,4782,869SHSOLECapstone Financial Advisors 0 0 2,869
ISHARES TRCORE S&P TTL STK46428715018,596,563205,373SHSOLECapstone Financial Advisors 0 0 205,373
ISHARES TRCORE S&P500 ETF464287200363,559884SHSOLECapstone Financial Advisors 0 0 884
ISHARES TRCORE US AGGBD ET46428722619,598,150196,690SHSOLECapstone Financial Advisors 0 0 196,690
ISHARES TRGLB INFRASTR ETF464288372397,4858,333SHSOLECapstone Financial Advisors 0 0 8,333
ISHARES TRGLOBAL REIT ETF46434V64731,630,4271,379,434SHSOLECapstone Financial Advisors 0 0 1,379,434
ISHARES TRNATIONAL MUN ETF4642884142,451,12022,750SHSOLECapstone Financial Advisors 0 0 22,750
ISHARES TRRUS 1000 ETF464287622168,737,000749,176SHSOLECapstone Financial Advisors 0 0 749,176
ISHARES TRRUS 1000 GRW ETF46428761426,126,729106,932SHSOLECapstone Financial Advisors 0 0 106,932
ISHARES TRRUSSELL 2000 ETF4642876554,901,37027,474SHSOLECapstone Financial Advisors 0 0 27,474
ISHARES TRRUSSELL 3000 ETF464287689536,2572,278SHSOLECapstone Financial Advisors 0 0 2,278
J P MORGAN EXCHANGE TRADED FEQUITY PREMIUM46641Q332494,0229,048SHSOLECapstone Financial Advisors 0 0 9,048
J P MORGAN EXCHANGE TRADED FULTRA SHT MUNCPL46641Q6542,002,44939,426SHSOLECapstone Financial Advisors 0 0 39,426
JOHNSON & JOHNSONCOM4781601041,302,2048,401SHSOLECapstone Financial Advisors 0 0 8,401
JPMORGAN CHASE & COCOM46625H1007,091,77554,422SHSOLECapstone Financial Advisors 0 0 54,422
LAMB WESTON HLDGS INCCOM5132721041,285,70012,301SHSOLECapstone Financial Advisors 0 0 12,301
LOANDEPOT INCCOM CL A53946R10640,25025,000SHSOLECapstone Financial Advisors 0 0 25,000
LOCKHEED MARTIN CORPCOM539830109245,525519SHSOLECapstone Financial Advisors 0 0 519
LUMEN TECHNOLOGIES INCCOM550241103203,26376,703SHSOLECapstone Financial Advisors 0 0 76,703
MASTERCARD INCORPORATEDCL A57636Q104317,422873SHSOLECapstone Financial Advisors 0 0 873
MCDONALDS CORPCOM58013510161,419,330219,661SHSOLECapstone Financial Advisors 0 0 219,661
MERCK & CO INCCOM58933Y105869,1348,169SHSOLECapstone Financial Advisors 0 0 8,169
META PLATFORMS INCCL A30303M102486,8272,297SHSOLECapstone Financial Advisors 0 0 2,297
MICROSOFT CORPCOM5949181043,886,07113,479SHSOLECapstone Financial Advisors 0 0 13,479
MORGAN STANLEYCOM NEW617446448296,2223,374SHSOLECapstone Financial Advisors 0 0 3,374
NEOGENOMICS INCCOM NEW64049M209174,10010,000SHSOLECapstone Financial Advisors 0 0 10,000
NETFLIX INCCOM64110L106325,097941SHSOLECapstone Financial Advisors 0 0 941
NOODLES & COCOM CL A65540B105121,25025,000SHSOLECapstone Financial Advisors 0 0 25,000
NUVEEN NASDAQ 100 DYNAMIC OVCOM SHS670699107314,68913,145SHSOLECapstone Financial Advisors 0 0 13,145
NUVEEN S&P 500 BUY-WRITE INCCOM6706ER101345,87826,423SHSOLECapstone Financial Advisors 0 0 26,423
NVIDIA CORPORATIONCOM67066G1041,247,4664,491SHSOLECapstone Financial Advisors 0 0 4,491
PALANTIR TECHNOLOGIES INCCL A69608A10890,83810,750SHSOLECapstone Financial Advisors 0 0 10,750
PEPSICO INCCOM713448108493,4312,707SHSOLECapstone Financial Advisors 0 0 2,707
PFIZER INCCOM717081103425,38010,426SHSOLECapstone Financial Advisors 0 0 10,426
POLISHED COM INC*W EXP 06/02/20228252C1174,94550,000SHSOLECapstone Financial Advisors 0 0 50,000
POLISHED COM INCCOM28252C1097,80215,000SHSOLECapstone Financial Advisors 0 0 15,000
PORTILLOS INCCOM CL A73642K106506,40523,697SHSOLECapstone Financial Advisors 0 0 23,697
PROCTER AND GAMBLE COCOM742718109485,4693,265SHSOLECapstone Financial Advisors 0 0 3,265
QUALCOMM INCCOM7475251032,285,38917,913SHSOLECapstone Financial Advisors 0 0 17,913
REGIS CORP MINNCOM75893210711,10010,000SHSOLECapstone Financial Advisors 0 0 10,000
SCHWAB STRATEGIC TRUS BRD MKT ETF8085241021,645,48234,388SHSOLECapstone Financial Advisors 0 0 34,388
SPDR DOW JONES INDL AVERAGEUT SER 178467X109417,8491,256SHSOLECapstone Financial Advisors 0 0 1,256
SPDR GOLD TRGOLD SHS78463V107204,6571,117SHSOLECapstone Financial Advisors 0 0 1,117
SPDR INDEX SHS FDSDJ GLB RL ES ETF78463X7492,586,78662,847SHSOLECapstone Financial Advisors 0 0 62,847
SPDR S&P 500 ETF TRTR UNIT78462F1032,878,7017,032SHSOLECapstone Financial Advisors 0 0 7,032
SPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP78467Y1077,741,81416,888SHSOLECapstone Financial Advisors 0 0 16,888
TESLA INCCOM88160R1011,047,2575,048SHSOLECapstone Financial Advisors 0 0 5,048
TEXAS INSTRS INCCOM882508104262,0891,409SHSOLECapstone Financial Advisors 0 0 1,409
THE CIGNA GROUPCOM1255231001,161,9354,547SHSOLECapstone Financial Advisors 0 0 4,547
TMC THE METALS COMPANY INCCOM87261Y10682,890100,000SHSOLECapstone Financial Advisors 0 0 100,000
TRI CONTL CORPCOM8954361032,004,87175,513SHSOLECapstone Financial Advisors 0 0 75,513
UNILEVER PLCSPON ADR NEW9047677041,274,62724,545SHSOLECapstone Financial Advisors 0 0 24,545
UNITEDHEALTH GROUP INCCOM91324P102338,375716SHSOLECapstone Financial Advisors 0 0 716
UPHEALTH INC*W EXP 06/08/20291532B11940020,000SHSOLECapstone Financial Advisors 0 0 20,000
VANGUARD BD INDEX FDSTOTAL BND MRKT92193783589,355,5081,210,287SHSOLECapstone Financial Advisors 0 0 1,210,287
VANGUARD CHARLOTTE FDSTOTAL INT BD ETF92203J40735,906,738733,989SHSOLECapstone Financial Advisors 0 0 733,989
VANGUARD INDEX FDSS&P 500 ETF SHS922908363317,885845SHSOLECapstone Financial Advisors 0 0 845
VANGUARD INDEX FDSTOTAL STK MKT922908769168,292,749824,560SHSOLECapstone Financial Advisors 0 0 824,560
VANGUARD INTL EQUITY INDEX FALLWRLD EX US922042775367,9696,882SHSOLECapstone Financial Advisors 0 0 6,882
VANGUARD MUN BD FDSTAX EXEMPT BD9229077463,889,95676,786SHSOLECapstone Financial Advisors 0 0 76,786
VANGUARD SCOTTSDALE FDSVNG RUS1000IDX92206C7304,000,99721,473SHSOLECapstone Financial Advisors 0 0 21,473
VANGUARD SCOTTSDALE FDSVNG RUS2000IDX92206C6642,690,48437,326SHSOLECapstone Financial Advisors 0 0 37,326
VANGUARD SPECIALIZED FUNDSDIV APP ETF9219088448,446,43054,843SHSOLECapstone Financial Advisors 0 0 54,843
VANGUARD STAR FDSVG TL INTL STK F92190976874,400,5321,347,592SHSOLECapstone Financial Advisors 0 0 1,347,592
VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT921943858425,6059,422SHSOLECapstone Financial Advisors 0 0 9,422
VANGUARD WORLD FDESG US STK ETF921910733521,1697,268SHSOLECapstone Financial Advisors 0 0 7,268
VANGUARD WORLD FDSINF TECH ETF92204A702224,928584SHSOLECapstone Financial Advisors 0 0 584
VERIZON COMMUNICATIONS INCCOM92343V104340,5688,757SHSOLECapstone Financial Advisors 0 0 8,757
VINCI PARTNERS INVTS LTDCOM CL AG9451V10981,30010,000SHSOLECapstone Financial Advisors 0 0 10,000
VISA INCCOM CL A92826C839211,980940SHSOLECapstone Financial Advisors 0 0 940
WALGREENS BOOTS ALLIANCE INCCOM9314271083,817,623110,400SHSOLECapstone Financial Advisors 0 0 110,400
WESTPORT FUEL SYSTEMS INCCOM NEW96090830929,92731,419SHSOLECapstone Financial Advisors 0 0 31,419
YUM BRANDS INCCOM988498101284,5012,154SHSOLECapstone Financial Advisors 0 0 2,154