Capon beamforming is associated with a high computational complexity, which limits its use as a real-time method in many applications. In this paper, we present an implementation of the Capon beamformer that exhibits realtime performance when applied in a typical cardiac ultrasound imaging setting. To achieve this performance, we make use of the parallel processing power found in modern graphics processing units (GPUs), combined with beamspace processing to reduce the computational complexity as the number of array elements increases. For a three-dimensional beamspace, we show that processing rates supporting real-time cardiac ultrasound imaging are possible, meaning that images can be processed faster than the image acquisition rate for a wide range of parameters. Image quality is investigated in an in vivo cardiac data set. These results show that Capon beamforming is feasible for cardiac ultrasound imaging, providing images with improved lateral resolution both in element-space and beamspace.