B & T Capital Management DBA Alpha Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), B & T Capital Management DBA Alpha Capital Management reported 111 stock positions worth $580.8 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 8.9% of the portfolio, followed by Vanguard Int Div App Indx FD (VIGI, 4.5%) and SS SPDR S&P Regional Bank (KRE, 3.6%). Compared with Q1 2025, it opened 7 new positions, sold out of 10, added to 50 and reduced 46. The biggest buy was a new position in SS SPDR S&P Regional Bank (KRE) and the biggest sale an exit from SS SPDR BB 1-3M T-Bill ETF (BIL).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001450935
- Portfolio Value
- $580.8M (Q2 2025)
- SEC Filing
- 0001450935-25-000006 ↗ filed Jul 31, 2025
Holdings Value
Holdings 111 stocks · $580.8M
| QQQ Invesco QQQ Trust Series 1 | 8.95% | 94,187 | $52.0M | Add +1.4% |
| VIGI Vanguard Int Div App Indx FD | 4.49% | 289,482 | $26.1M | Add +2.5% |
| KRE SS SPDR S&P Regional Bank | 3.63% | 354,700 | $21.1M | New |
| SCHG Schwab US Large-Cap Growth | 3.51% | 698,752 | $20.4M | Reduce -13.3% |
| SCHX Schwab US Large-Cap ETF | 3.49% | 829,132 | $20.3M | Add +0.9% |
| VNQ Vanguard Real Estate ETF | 3.09% | 201,542 | $17.9M | Add +2.0% |
| XLE SS Energy Select Sector | 2.83% | 193,853 | $16.4M | Reduce -0.5% |
| SDVY First Trust Smid Cap Rising | 2.10% | 346,245 | $12.2M | Add +1.2% |
| JMEE JPM Sma & Mid Cap En Eq Et-U filed as J P MORGAN EXCHANGE TRADED F | 2.01% | 197,209 | $11.7M | Reduce -3.4% |
| JPM JPMorgan Chase & Co. | 1.97% | 39,510 | $11.5M | Reduce -3.2% |
| MELI MercadoLibre Inc. | 1.94% | 4,312 | $11.3M | Reduce -0.7% |
| AAPL Apple Inc. | 1.90% | 53,776 | $11.0M | Add +0.4% |
| META Meta Platforms Inc. Class A | 1.82% | 14,282 | $10.5M | Add +0.7% |
| AVGO Broadcom Inc. | 1.77% | 37,380 | $10.3M | Reduce -5.5% |
| AMZN Amazon.com Inc. | 1.76% | 46,590 | $10.2M | Reduce -0.3% |
| PWR Quanta Services Inc. | 1.70% | 26,135 | $9.9M | Add +0.8% |
| KKR KKR & Co. Inc. | 1.65% | 72,090 | $9.6M | Add +0.3% |
| BKNG Booking Holdings Inc. | 1.57% | 1,576 | $9.1M | Reduce -1.3% |
| MSFT Microsoft Corp. | 1.56% | 18,188 | $9.0M | Reduce -2.3% |
| NVDA Nvidia Corp. | 1.53% | 56,414 | $8.9M | Add +2.4% |
| SNOW Snowflake Inc. | 1.53% | 39,629 | $8.9M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 1.51% | 49,779 | $8.8M | Reduce -0.9% |
| BX Blackstone Inc. | 1.50% | 58,322 | $8.7M | Add +0.7% |
| HON Honeywell International Inc. | 1.40% | 34,995 | $8.1M | Add +0.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.36% | 16,284 | $7.9M | Reduce -1.3% |
| NEE Nextera Energy Inc. | 1.33% | 111,543 | $7.7M | Add +2.4% |
| ORCL Oracle Corp. | 1.25% | 33,327 | $7.3M | Reduce -0.9% |
| XOM Exxon Mobil Corp. | 1.08% | 58,017 | $6.3M | Add +2.5% |
| TSM Taiwan Semiconductor-SP ADR | 1.07% | 27,352 | $6.2M | Add +122.2% |
| SOFI Sofi Technologies Inc. | 1.07% | 339,891 | $6.2M | Reduce -17.7% |
| PLTR Palantir Technologies Inc. Class A | 1.02% | 43,267 | $5.9M | Add +1.6% |
| WMT Walmart Inc. | 1.01% | 59,990 | $5.9M | Reduce -2.0% |
| WSM Williams-Sonoma Inc. | 1.01% | 35,898 | $5.9M | Reduce -2.9% |
| V Visa Inc. Class A | 1.01% | 16,460 | $5.8M | Reduce -1.5% |
| PH Parker Hannifin Corp. | 1.00% | 8,355 | $5.8M | Add +1.3% |
| TBIL F/M US Treasury 3 Month Bill | 1.00% | 116,669 | $5.8M | Reduce -10.3% |
| BLK BlackRock Inc. | 1.00% | 5,547 | $5.8M | Add +0.1% |
| FAST Fastenal Co. | 0.98% | 135,022 | $5.7M | Reduce -0.9% |
| AESI Atlas Energy Solutions Inc. | 0.97% | 419,550 | $5.6M | Add +8.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.94% | 18,462 | $5.4M | Add +2.8% |
| CAT Caterpillar Inc. | 0.91% | 13,650 | $5.3M | Add +0.3% |
| ABBV Abbvie Inc. | 0.91% | 28,490 | $5.3M | Add +4.5% |
| VMC Vulcan Materials Co. | 0.91% | 20,272 | $5.3M | Add +0.6% |
| HD Home Depot Inc. | 0.90% | 14,244 | $5.2M | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.86% | 8,107 | $5.0M | Reduce -4.0% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.83% | 52,460 | $4.8M | Reduce -0.1% |
| LMT Lockheed Martin Corp. | 0.79% | 9,920 | $4.6M | Add +2.4% |
| PANW Palo Alto Networks Inc. | 0.79% | 22,342 | $4.6M | Reduce -1.1% |
| MSCI MSCI Inc. | 0.79% | 7,917 | $4.6M | Add +3.8% |
| GS Goldman Sachs Group Inc. | 0.78% | 6,384 | $4.5M | Reduce -2.9% |
| KVUE Kenvue Inc. | 0.77% | 213,447 | $4.5M | Add +3.0% |
| PEP Pepsico Inc. | 0.75% | 32,962 | $4.4M | Add +25.9% |
| AMGN Amgen Inc. | 0.72% | 15,037 | $4.2M | Add +3.5% |
| CVX Chevron Corp. | 0.69% | 28,118 | $4.0M | Add +4.5% |
| CEG Constellation Energy | 0.67% | 11,986 | $3.9M | Add +2.2% |
| MRK Merck & Co. Inc. | 0.64% | 46,838 | $3.7M | Add +9.5% |
| SHOP Shopify Inc. Class A | 0.61% | 30,883 | $3.6M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 0.58% | 6,043 | $3.4M | Reduce -1.8% |
| UBER Uber Technologies Inc. | 0.57% | 35,241 | $3.3M | New |
| COST Costco Wholesale Corp. | 0.55% | 3,226 | $3.2M | Reduce -0.9% |
| MLM Martin Marietta Materials | 0.55% | 5,793 | $3.2M | Reduce -0.2% |
| ECL Ecolab Inc. | 0.55% | 11,761 | $3.2M | Add +0.4% |
| ROP Roper Technologies Inc. | 0.54% | 5,489 | $3.1M | Add +0.2% |
| REGN Regeneron Pharmaceuticals | 0.49% | 5,476 | $2.9M | Add +56.0% |
| RH RH | 0.45% | 13,862 | $2.6M | Add +42.0% |
| EOG EOG Resources Inc. | 0.42% | 20,566 | $2.5M | Reduce -2.5% |
| LLY Eli Lilly & Co. | 0.42% | 3,109 | $2.4M | Add +1.2% |
| QTUM Defiance Quantum ETF | 0.39% | 24,873 | $2.3M | New |
| JPST JPMorgan Ultra-Short Income | 0.37% | 42,100 | $2.1M | Reduce -10.7% |
| SCHD Schwab US DVD Equity ETF | 0.36% | 78,149 | $2.1M | Reduce -41.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.25% | 5,285 | $1.5M | Reduce -1.9% |
| TSLA Tesla Inc. | 0.23% | 4,114 | $1.3M | Reduce -3.1% |
| AFL Aflac Inc. | 0.22% | 12,244 | $1.3M | No change |
| BND Vanguard Total Bond Market | 0.22% | 17,014 | $1.3M | Reduce -1.4% |
| JEPI JPMorgan Equity Premium Inco | 0.20% | 20,079 | $1.1M | Add +0.0% |
| ARM Arm Holdings PLC-ADR | 0.20% | 7,004 | $1.1M | Add +22.6% |
| STRS Stratus Properties Inc. | 0.19% | 57,872 | $1.1M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.17% | 3,300 | $1.0M | Add +4.4% |
| SPOT Spotify Technology SA | 0.17% | 1,250 | $959K | Add +13.7% |
| GRAL Grail Inc. | 0.15% | 17,446 | $897K | Reduce -6.5% |
| MU Micron Technology Inc. | 0.15% | 7,203 | $888K | Add +80.0% |
| NFLX Netflix Inc. | 0.14% | 603 | $807K | Add +26.1% |
| AMAT Applied Materials Inc. | 0.14% | 4,364 | $799K | No change |
| COWG Pacer US LRG Cap Cows GR LD | 0.12% | 19,558 | $687K | Add +69.8% |
| CPNG Coupang Inc. | 0.10% | 20,151 | $604K | New |
| VOO Vanguard S&P 500 ETF | 0.10% | 1,038 | $590K | Reduce -27.4% |
| XBIL F/M US Treasury 6 Month Bill | 0.10% | 11,290 | $566K | Add +3.4% |
| VEA Vanguard Ftse Developed ETF | 0.09% | 8,735 | $498K | Add +0.7% |
| PG The Procter & Gamble Co. | 0.08% | 2,935 | $468K | Add +5.0% |
| GOOG Alphabet Inc. Class C | 0.08% | 2,635 | $467K | Reduce -9.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.08% | 1,904 | $451K | Add +20.2% |
| ESGV Vanguard ESG US Stock ETF | 0.07% | 3,796 | $416K | Add +5.7% |
| SLAB Silicon Laboratories Inc. | 0.07% | 2,608 | $384K | No change |
| IVV iShares Core S&P 500 ETF | 0.06% | 539 | $335K | Reduce -22.2% |
| MINT PIMCO Enhanced Short Maturit | 0.06% | 3,250 | $327K | Reduce -39.8% |
| IVW iShares S&P 500 Growth ETF | 0.06% | 2,922 | $322K | Add +3.5% |
| IBIT iShares Bitcoin Trust ETF | 0.05% | 5,182 | $317K | New |
| LSCC Lattice Semiconductor Corp. | 0.05% | 6,415 | $314K | No change |
| NOBL Proshares S&P 500 Dividend A | 0.05% | 3,000 | $302K | No change |
| CSCO Cisco Systems Inc. | 0.05% | 4,320 | $300K | Reduce -18.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $29K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TLSIW Medtech Acquisition Corp.-CW | *W EXP 08/10/202 | 22,222 | $29K | No change |
Total filed on the 13F, all lines: $580.8M.
Portfolio Sells Q1 2025 → Q2 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −3.53 |
| QCOM Qualcomm Inc. | Reduce -93.8% | 0.05% | −0.77 |
| XLE SS Energy Select Sector | Reduce -0.5% | 2.83% | −0.63 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.42 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Sold out | 0.00% | −0.40 |
| SCHD Schwab US DVD Equity ETF | Reduce -41.4% | 0.36% | −0.35 |
| SCHG Schwab US Large-Cap Growth | Reduce -13.3% | 3.51% | −0.32 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.3% | 1.36% | −0.31 |
| COWZ Pacer US Cash Cows 100 ETF | Sold out | 0.00% | −0.26 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -10.3% | 1.00% | −0.23 |
| JMEE JPM Sma & Mid Cap En Eq Et-U | Reduce -3.4% | 2.01% | −0.16 |
| ICSH iShares Ultra Short Duration | Reduce -75.2% | 0.04% | −0.14 |
| GSY Invesco Ultra Short Duration | Reduce -77.5% | 0.03% | −0.14 |
| V Visa Inc. Class A | Reduce -1.5% | 1.01% | −0.11 |
| WSM Williams-Sonoma Inc. | Reduce -2.9% | 1.01% | −0.10 |
| BE Bloom Energy Corp. Class A | Sold out | 0.00% | −0.10 |
| EOG EOG Resources Inc. | Reduce -2.5% | 0.42% | −0.09 |
| JPST JPMorgan Ultra-Short Income | Reduce -10.7% | 0.37% | −0.09 |
| CRSP Crispr Therapeutics AG | Sold out | 0.00% | −0.08 |
| VIG Vanguard Dividend Apprec ETF | Sold out | 0.00% | −0.06 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -1.8% | 0.58% | −0.06 |
| MINT PIMCO Enhanced Short Maturit | Reduce -39.8% | 0.06% | −0.05 |
| ICOW Pacer Developed Markets Inte | Sold out | 0.00% | −0.04 |
| VOO Vanguard S&P 500 ETF | Reduce -27.4% | 0.10% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.0% | 0.86% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -0.9% | 0.55% | −0.04 |
| FAST Fastenal Co. | Reduce -0.9% | 0.98% | −0.03 |
| BND Vanguard Total Bond Market | Reduce -1.4% | 0.22% | −0.03 |
| LPRO Open Lending Corp. | Reduce -4.6% | 0.04% | −0.02 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -22.2% | 0.06% | −0.02 |
| SGOL Abrdn Physical Gold Shares | Reduce -19.1% | 0.05% | −0.01 |
| PDBC Invesco Optimum Yield Divers | Reduce -15.3% | 0.04% | −0.01 |
| WMT Walmart Inc. | Reduce -2.0% | 1.01% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -18.2% | 0.05% | −0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -1.9% | 0.25% | −0.01 |
| GOOG Alphabet Inc. Class C | Reduce -9.9% | 0.08% | −0.01 |
| DELL Dell Technologies -C | Reduce -1.6% | 0.05% | +0.01 |
| TSLA Tesla Inc. | Reduce -3.1% | 0.23% | +0.02 |
| MLM Martin Marietta Materials | Reduce -0.2% | 0.55% | +0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -0.9% | 1.51% | +0.03 |
| SHOP Shopify Inc. Class A | Reduce -0.3% | 0.61% | +0.05 |
| CF CF Industries Holdings Inc. | Reduce -0.1% | 0.83% | +0.05 |
| PANW Palo Alto Networks Inc. | Reduce -1.1% | 0.79% | +0.05 |
| GRAL Grail Inc. | Reduce -6.5% | 0.15% | +0.06 |
| JPM JPMorgan Chase & Co. | Reduce -3.2% | 1.97% | +0.07 |
| AMZN Amazon.com Inc. | Reduce -0.3% | 1.76% | +0.07 |
| GS Goldman Sachs Group Inc. | Reduce -2.9% | 0.78% | +0.10 |
| SOFI Sofi Technologies Inc. | Reduce -17.7% | 1.07% | +0.15 |
Portfolio Buys Q1 2025 → Q2 2025
| KRE SS SPDR S&P Regional Bank | New | 3.63% | +3.63 |
| TSM Taiwan Semiconductor-SP ADR | Add +122.2% | 1.07% | +0.68 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.4% | 8.95% | +0.67 |
| UBER Uber Technologies Inc. | New | 0.57% | +0.57 |
| PWR Quanta Services Inc. | Add +0.8% | 1.70% | +0.45 |
| NVDA Nvidia Corp. | Add +2.4% | 1.53% | +0.40 |
| QTUM Defiance Quantum ETF | New | 0.39% | +0.39 |
| PLTR Palantir Technologies Inc. Class A | Add +1.6% | 1.02% | +0.33 |
| META Meta Platforms Inc. Class A | Add +0.7% | 1.82% | +0.26 |
| CEG Constellation Energy | Add +2.2% | 0.67% | +0.22 |
| CPNG Coupang Inc. | New | 0.10% | +0.10 |
| IBM Intl Business Machines Corp. | Add +2.8% | 0.94% | +0.09 |
| MU Micron Technology Inc. | Add +80.0% | 0.15% | +0.09 |
| ARM Arm Holdings PLC-ADR | Add +22.6% | 0.20% | +0.08 |
| REGN Regeneron Pharmaceuticals | Add +56.0% | 0.49% | +0.07 |
| KKR KKR & Co. Inc. | Add +0.3% | 1.65% | +0.07 |
| CAT Caterpillar Inc. | Add +0.3% | 0.91% | +0.06 |
| IBIT iShares Bitcoin Trust ETF | New | 0.05% | +0.05 |
| NFLX Netflix Inc. | Add +26.1% | 0.14% | +0.05 |
| PH Parker Hannifin Corp. | Add +1.3% | 1.00% | +0.05 |
| COWG Pacer US LRG Cap Cows GR LD | Add +69.8% | 0.12% | +0.05 |
| SPOT Spotify Technology SA | Add +13.7% | 0.17% | +0.05 |
| AMD Advanced Micro Devices | New | 0.04% | +0.04 |
| VIGI Vanguard Int Div App Indx FD | Add +2.5% | 4.49% | +0.04 |
| SCHX Schwab US Large-Cap ETF | Add +0.9% | 3.49% | +0.04 |
| WFC Wells Fargo & Co. | New | 0.04% | +0.04 |
| VMC Vulcan Materials Co. | Add +0.6% | 0.91% | +0.02 |
| RH RH | Add +42.0% | 0.45% | +0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +20.2% | 0.08% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +4.4% | 0.17% | +0.01 |
| HON Honeywell International Inc. | Add +0.8% | 1.40% | +0.01 |
| IVW iShares S&P 500 Growth ETF | Add +3.5% | 0.06% | +0.01 |
| BLK BlackRock Inc. | Add +0.1% | 1.00% | +0.00 |
| ESGV Vanguard ESG US Stock ETF | Add +5.7% | 0.07% | +0.00 |
| PEP Pepsico Inc. | Add +25.9% | 0.75% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +0.7% | 0.09% | +0.00 |
| XBIL F/M US Treasury 6 Month Bill | Add +3.4% | 0.10% | −0.01 |
| PG The Procter & Gamble Co. | Add +5.0% | 0.08% | −0.01 |
| ECL Ecolab Inc. | Add +0.4% | 0.55% | −0.02 |
| JEPI JPMorgan Equity Premium Inco | Add +0.0% | 0.20% | −0.02 |
| LMT Lockheed Martin Corp. | Add +2.4% | 0.79% | −0.03 |
| MSCI MSCI Inc. | Add +3.8% | 0.79% | −0.03 |
| BX Blackstone Inc. | Add +0.7% | 1.50% | −0.04 |
| LLY Eli Lilly & Co. | Add +1.2% | 0.42% | −0.07 |
| SDVY First Trust Smid Cap Rising | Add +1.2% | 2.10% | −0.08 |
| ROP Roper Technologies Inc. | Add +0.2% | 0.54% | −0.08 |
| HD Home Depot Inc. | Add +0.8% | 0.90% | −0.08 |
| MRK Merck & Co. Inc. | Add +9.5% | 0.64% | −0.09 |
| NEE Nextera Energy Inc. | Add +2.4% | 1.33% | −0.14 |
| AMGN Amgen Inc. | Add +3.5% | 0.72% | −0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 128 | $762.9M | BND, QQQ, VIGI, VNQ, QTUM |
| Q1 2026 | 115 | $689.9M | BND, QQQ, VIGI, VNQ, SCHX |
| Q4 2025 | 116 | $709.9M | BND, QQQ, VIGI, SCHX, SCHG |
| Q3 2025 | 116 | $630.4M | QQQ, VIGI, BIL, SCHX, SCHG |
| Q2 2025 | 111 | $580.8M | QQQ, VIGI, KRE, SCHG, SCHX |
| Q1 2025 | 114 | $526.1M | QQQ, VIGI, SCHG, BIL, XLE |
| Q4 2024 | 113 | $545.6M | QQQ, VIGI, SCHG, SCHX, BIL |
| Q3 2024 | 110 | $531.9M | QQQ, VIGI, ICOW, TBIL, SCHG |
| Q2 2024 | 113 | $513.6M | QQQ, VIGI, ICOW, SCHG, SCHX |
| Q1 2024 | 114 | $512.4M | QQQ, ICOW, VIGI, SCHG, XLE |