B & T Capital Management DBA Alpha Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), B & T Capital Management DBA Alpha Capital Management reported 116 stock positions worth $630.4 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, 4.2%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 4.0%). Compared with Q2 2025, it opened 10 new positions, sold out of 5, added to 50 and reduced 48. The biggest buy was a new position in SS SPDR BB 1-3M T-Bill ETF (BIL) and the biggest sale an exit from SS SPDR S&P Regional Bank (KRE).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001450935
- Portfolio Value
- $630.4M (Q3 2025)
- SEC Filing
- 0001450935-25-000007 ↗ filed Nov 12, 2025
Holdings Value
Holdings 116 stocks · $630.4M
| QQQ Invesco QQQ Trust Series 1 | 8.85% | 92,950 | $55.8M | Reduce -1.3% |
| VIGI Vanguard Int Div App Indx FD | 4.18% | 294,108 | $26.3M | Add +1.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 4.00% | 274,594 | $25.2M | New |
| SCHX Schwab US Large-Cap ETF | 3.40% | 812,599 | $21.4M | Reduce -2.0% |
| SCHG Schwab US Large-Cap Growth | 3.39% | 670,233 | $21.4M | Reduce -4.1% |
| VNQ Vanguard Real Estate ETF | 2.96% | 204,430 | $18.7M | Add +1.4% |
| AAPL Apple Inc. | 2.19% | 54,202 | $13.8M | Add +0.8% |
| SDVY First Trust Smid Cap Rising | 2.12% | 352,229 | $13.4M | Add +1.7% |
| JMEE JPM Sma & Mid Cap En Eq Et-U filed as J P MORGAN EXCHANGE TRADED F | 2.03% | 202,076 | $12.8M | Add +2.5% |
| JPM JPMorgan Chase & Co. | 1.92% | 38,431 | $12.1M | Reduce -2.7% |
| GOOGL Alphabet Inc. Class A | 1.85% | 48,050 | $11.7M | Reduce -3.5% |
| AVGO Broadcom Inc. | 1.81% | 34,588 | $11.4M | Reduce -7.5% |
| PWR Quanta Services Inc. | 1.71% | 26,023 | $10.8M | Reduce -0.4% |
| AMZN Amazon.com Inc. | 1.61% | 46,229 | $10.2M | Reduce -0.8% |
| META Meta Platforms Inc. Class A | 1.61% | 13,790 | $10.1M | Reduce -3.4% |
| NVDA Nvidia Corp. | 1.61% | 54,248 | $10.1M | Reduce -3.8% |
| MELI MercadoLibre Inc. | 1.58% | 4,263 | $10.0M | Reduce -1.1% |
| BX Blackstone Inc. | 1.57% | 58,069 | $9.9M | Reduce -0.4% |
| MSFT Microsoft Corp. | 1.48% | 17,957 | $9.3M | Reduce -1.3% |
| KKR KKR & Co. Inc. | 1.47% | 71,193 | $9.3M | Reduce -1.2% |
| SOFI Sofi Technologies Inc. | 1.45% | 345,956 | $9.1M | Add +1.8% |
| QTUM Defiance Quantum ETF | 1.43% | 86,047 | $9.0M | Add +245.9% |
| SNOW Snowflake Inc. | 1.40% | 39,201 | $8.8M | Reduce -1.1% |
| NEE Nextera Energy Inc. | 1.36% | 113,159 | $8.5M | Add +1.4% |
| ORCL Oracle Corp. | 1.35% | 30,169 | $8.5M | Reduce -9.5% |
| BKNG Booking Holdings Inc. | 1.34% | 1,560 | $8.4M | Reduce -1.0% |
| AESI Atlas Energy Solutions Inc. | 1.31% | 725,913 | $8.3M | Add +73.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.31% | 16,404 | $8.2M | Add +0.7% |
| TSM Taiwan Semiconductor-SP ADR | 1.21% | 27,301 | $7.6M | Reduce -0.2% |
| TBIL F/M US Treasury 3 Month Bill | 1.20% | 151,427 | $7.6M | Add +29.8% |
| HON Honeywell International Inc. | 1.20% | 35,958 | $7.6M | Add +2.8% |
| PLTR Palantir Technologies Inc. Class A | 1.16% | 39,961 | $7.3M | Reduce -7.6% |
| WSM Williams-Sonoma Inc. | 1.09% | 35,227 | $6.9M | Reduce -1.9% |
| XOM Exxon Mobil Corp. | 1.07% | 59,754 | $6.7M | Add +3.0% |
| FAST Fastenal Co. | 1.04% | 133,096 | $6.5M | Reduce -1.4% |
| ABBV Abbvie Inc. | 1.03% | 27,972 | $6.5M | Reduce -1.8% |
| CAT Caterpillar Inc. | 1.02% | 13,513 | $6.4M | Reduce -1.0% |
| IGF iShares Global Infrastructur | 1.02% | 104,940 | $6.4M | New |
| BLK BlackRock Inc. | 1.02% | 5,501 | $6.4M | Reduce -0.8% |
| VMC Vulcan Materials Co. | 1.00% | 20,516 | $6.3M | Add +1.2% |
| PH Parker Hannifin Corp. | 0.99% | 8,269 | $6.3M | Reduce -1.0% |
| WMT Walmart Inc. | 0.99% | 60,387 | $6.2M | Add +0.7% |
| HD Home Depot Inc. | 0.92% | 14,277 | $5.8M | Add +0.2% |
| V Visa Inc. Class A | 0.91% | 16,719 | $5.7M | Add +1.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.86% | 8,134 | $5.4M | Add +0.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.85% | 18,986 | $5.4M | Add +2.8% |
| LMT Lockheed Martin Corp. | 0.81% | 10,288 | $5.1M | Add +3.7% |
| GS Goldman Sachs Group Inc. | 0.76% | 6,034 | $4.8M | Reduce -5.5% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.76% | 53,378 | $4.8M | Add +1.8% |
| PEP Pepsico Inc. | 0.75% | 33,591 | $4.7M | Add +1.9% |
| MSCI MSCI Inc. | 0.73% | 8,084 | $4.6M | Add +2.1% |
| CVX Chevron Corp. | 0.72% | 29,072 | $4.5M | Add +3.4% |
| PANW Palo Alto Networks Inc. | 0.71% | 22,037 | $4.5M | Reduce -1.4% |
| SHOP Shopify Inc. Class A | 0.70% | 29,740 | $4.4M | Reduce -3.7% |
| AMGN Amgen Inc. | 0.70% | 15,592 | $4.4M | Add +3.7% |
| MRK Merck & Co. Inc. | 0.66% | 49,389 | $4.1M | Add +5.5% |
| CEG Constellation Energy | 0.62% | 11,828 | $3.9M | Reduce -1.3% |
| KVUE Kenvue Inc. | 0.60% | 233,952 | $3.8M | Add +9.6% |
| SBUX Starbucks Corp. | 0.59% | 44,074 | $3.7M | New |
| MLM Martin Marietta Materials | 0.58% | 5,806 | $3.7M | Add +0.2% |
| UBER Uber Technologies Inc. | 0.55% | 35,658 | $3.5M | Add +1.2% |
| MA Mastercard Inc. Class A | 0.54% | 6,010 | $3.4M | Reduce -0.6% |
| ECL Ecolab Inc. | 0.51% | 11,847 | $3.2M | Add +0.7% |
| REGN Regeneron Pharmaceuticals | 0.49% | 5,512 | $3.1M | Add +0.7% |
| COST Costco Wholesale Corp. | 0.48% | 3,252 | $3.0M | Add +0.8% |
| RH RH | 0.45% | 13,945 | $2.8M | Add +0.6% |
| ROP Roper Technologies Inc. | 0.44% | 5,580 | $2.8M | Add +1.7% |
| LLY Eli Lilly & Co. | 0.39% | 3,249 | $2.5M | Add +4.5% |
| EOG EOG Resources Inc. | 0.38% | 21,290 | $2.4M | Add +3.5% |
| JPST JPMorgan Ultra-Short Income | 0.37% | 46,500 | $2.4M | Add +10.4% |
| SCHD Schwab US DVD Equity ETF | 0.31% | 72,453 | $2.0M | Reduce -7.3% |
| SGOV iShares 0-3 Month Treasury B | 0.25% | 15,900 | $1.6M | New |
| TSLA Tesla Inc. | 0.24% | 3,473 | $1.5M | Reduce -15.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.24% | 5,230 | $1.5M | Reduce -1.0% |
| AFL Aflac Inc. | 0.22% | 12,244 | $1.4M | No change |
| BND Vanguard Total Bond Market | 0.20% | 17,322 | $1.3M | Add +1.8% |
| JEPI JPMorgan Equity Premium Inco | 0.18% | 20,333 | $1.2M | Add +1.3% |
| IBIT iShares Bitcoin Trust ETF | 0.18% | 17,138 | $1.1M | Add +230.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.17% | 3,252 | $1.1M | Reduce -1.4% |
| IWO iShares Russell 2000 Growth | 0.16% | 3,203 | $1.0M | New |
| STRS Stratus Properties Inc. | 0.15% | 45,500 | $963K | Reduce -21.4% |
| AMAT Applied Materials Inc. | 0.14% | 4,364 | $894K | No change |
| ARM Arm Holdings PLC-ADR | 0.13% | 5,793 | $820K | Reduce -17.3% |
| SPOT Spotify Technology SA | 0.13% | 1,165 | $813K | Reduce -6.8% |
| COWG Pacer US LRG Cap Cows GR LD | 0.12% | 20,041 | $727K | Add +2.5% |
| BLSH Bullish | 0.11% | 11,312 | $720K | New |
| NFLX Netflix Inc. | 0.11% | 582 | $698K | Reduce -3.5% |
| VOO Vanguard S&P 500 ETF | 0.11% | 1,099 | $673K | Add +5.9% |
| BLOK Amplify Blockchain Tech ETF | 0.11% | 9,959 | $668K | New |
| GOOG Alphabet Inc. Class C | 0.10% | 2,665 | $649K | Add +1.1% |
| CPNG Coupang Inc. | 0.10% | 19,359 | $623K | Reduce -3.9% |
| XBIL F/M US Treasury 6 Month Bill | 0.08% | 10,440 | $524K | Reduce -7.5% |
| CRSP Crispr Therapeutics AG | 0.08% | 8,085 | $524K | New |
| VEA Vanguard Ftse Developed ETF | 0.08% | 8,673 | $520K | Reduce -0.7% |
| MINT PIMCO Enhanced Short Maturit | 0.08% | 4,975 | $501K | Add +53.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.08% | 1,909 | $486K | Add +0.3% |
| LSCC Lattice Semiconductor Corp. | 0.07% | 6,415 | $470K | No change |
| ESGV Vanguard ESG US Stock ETF | 0.07% | 3,850 | $456K | Add +1.4% |
| PG The Procter & Gamble Co. | 0.07% | 2,870 | $441K | Reduce -2.2% |
| ICSH iShares Ultra Short Duration | 0.06% | 7,956 | $404K | Add +74.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $19K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TLSIW Medtech Acquisition Corp.-CW | *W EXP 08/10/202 | 11,000 | $19K | Reduce -50.5% |
Total filed on the 13F, all lines: $630.4M.
Portfolio Sells Q2 2025 → Q3 2025
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −3.63 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −2.83 |
| MELI MercadoLibre Inc. | Reduce -1.1% | 1.58% | −0.36 |
| BKNG Booking Holdings Inc. | Reduce -1.0% | 1.34% | −0.23 |
| META Meta Platforms Inc. Class A | Reduce -3.4% | 1.61% | −0.21 |
| KKR KKR & Co. Inc. | Reduce -1.2% | 1.47% | −0.18 |
| GRAL Grail Inc. | Sold out | 0.00% | −0.15 |
| AMZN Amazon.com Inc. | Reduce -0.8% | 1.61% | −0.15 |
| SNOW Snowflake Inc. | Reduce -1.1% | 1.40% | −0.12 |
| SCHG Schwab US Large-Cap Growth | Reduce -4.1% | 3.39% | −0.12 |
| MU Micron Technology Inc. | Reduce -79.4% | 0.04% | −0.11 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.3% | 8.85% | −0.09 |
| SCHX Schwab US Large-Cap ETF | Reduce -2.0% | 3.40% | −0.09 |
| MSFT Microsoft Corp. | Reduce -1.3% | 1.48% | −0.08 |
| PANW Palo Alto Networks Inc. | Reduce -1.4% | 0.71% | −0.08 |
| ARM Arm Holdings PLC-ADR | Reduce -17.3% | 0.13% | −0.07 |
| IVW iShares S&P 500 Growth ETF | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -2.7% | 1.92% | −0.05 |
| CEG Constellation Energy | Reduce -1.3% | 0.62% | −0.05 |
| SCHD Schwab US DVD Equity ETF | Reduce -7.3% | 0.31% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.6% | 0.54% | −0.04 |
| SPOT Spotify Technology SA | Reduce -6.8% | 0.13% | −0.04 |
| STRS Stratus Properties Inc. | Reduce -21.4% | 0.15% | −0.04 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.04 |
| NFLX Netflix Inc. | Reduce -3.5% | 0.11% | −0.03 |
| GS Goldman Sachs Group Inc. | Reduce -5.5% | 0.76% | −0.02 |
| XBIL F/M US Treasury 6 Month Bill | Reduce -7.5% | 0.08% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -23.6% | 0.04% | −0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -1.0% | 0.24% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -2.2% | 0.07% | −0.01 |
| PH Parker Hannifin Corp. | Reduce -1.0% | 0.99% | −0.01 |
| LPRO Open Lending Corp. | Reduce -21.5% | 0.03% | −0.01 |
| CPNG Coupang Inc. | Reduce -3.9% | 0.10% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -4.7% | 0.04% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.4% | 0.17% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -0.7% | 0.08% | −0.00 |
| AMD Advanced Micro Devices | Reduce -11.4% | 0.04% | −0.00 |
| DELL Dell Technologies -C | Reduce -0.8% | 0.05% | +0.00 |
| PWR Quanta Services Inc. | Reduce -0.4% | 1.71% | +0.01 |
| BLK BlackRock Inc. | Reduce -0.8% | 1.02% | +0.02 |
| TSLA Tesla Inc. | Reduce -15.6% | 0.24% | +0.02 |
| AVGO Broadcom Inc. | Reduce -7.5% | 1.81% | +0.04 |
| FAST Fastenal Co. | Reduce -1.4% | 1.04% | +0.06 |
| NVDA Nvidia Corp. | Reduce -3.8% | 1.61% | +0.07 |
| BX Blackstone Inc. | Reduce -0.4% | 1.57% | +0.07 |
| WSM Williams-Sonoma Inc. | Reduce -1.9% | 1.09% | +0.08 |
| SHOP Shopify Inc. Class A | Reduce -3.7% | 0.70% | +0.09 |
| ORCL Oracle Corp. | Reduce -9.5% | 1.35% | +0.09 |
| CAT Caterpillar Inc. | Reduce -1.0% | 1.02% | +0.11 |
| ABBV Abbvie Inc. | Reduce -1.8% | 1.03% | +0.12 |
Portfolio Buys Q2 2025 → Q3 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 4.00% | +4.00 |
| QTUM Defiance Quantum ETF | Add +245.9% | 1.43% | +1.04 |
| IGF iShares Global Infrastructur | New | 1.02% | +1.02 |
| SBUX Starbucks Corp. | New | 0.59% | +0.59 |
| SOFI Sofi Technologies Inc. | Add +1.8% | 1.45% | +0.38 |
| AESI Atlas Energy Solutions Inc. | Add +73.0% | 1.31% | +0.34 |
| AAPL Apple Inc. | Add +0.8% | 2.19% | +0.29 |
| SGOV iShares 0-3 Month Treasury B | New | 0.25% | +0.25 |
| TBIL F/M US Treasury 3 Month Bill | Add +29.8% | 1.20% | +0.20 |
| IWO iShares Russell 2000 Growth | New | 0.16% | +0.16 |
| IBIT iShares Bitcoin Trust ETF | Add +230.7% | 0.18% | +0.12 |
| BLSH Bullish | New | 0.11% | +0.11 |
| BLOK Amplify Blockchain Tech ETF | New | 0.11% | +0.11 |
| VMC Vulcan Materials Co. | Add +1.2% | 1.00% | +0.09 |
| CRSP Crispr Therapeutics AG | New | 0.08% | +0.08 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.03% | +0.03 |
| MLM Martin Marietta Materials | Add +0.2% | 0.58% | +0.03 |
| FELG Fidelity Enh LRG Cap GWTH | New | 0.03% | +0.03 |
| GSY Invesco Ultra Short Duration | Add +85.0% | 0.06% | +0.02 |
| ICSH iShares Ultra Short Duration | Add +74.6% | 0.06% | +0.02 |
| LMT Lockheed Martin Corp. | Add +3.7% | 0.81% | +0.02 |
| MINT PIMCO Enhanced Short Maturit | Add +53.1% | 0.08% | +0.02 |
| CVX Chevron Corp. | Add +3.4% | 0.72% | +0.02 |
| JMEE JPM Sma & Mid Cap En Eq Et-U | Add +2.5% | 2.03% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +1.1% | 0.10% | +0.02 |
| NEE Nextera Energy Inc. | Add +1.4% | 1.36% | +0.02 |
| SDVY First Trust Smid Cap Rising | Add +1.7% | 2.12% | +0.02 |
| MRK Merck & Co. Inc. | Add +5.5% | 0.66% | +0.02 |
| HD Home Depot Inc. | Add +0.2% | 0.92% | +0.02 |
| JPST JPMorgan Ultra-Short Income | Add +10.4% | 0.37% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +5.9% | 0.11% | +0.01 |
| ESGV Vanguard ESG US Stock ETF | Add +1.4% | 0.07% | +0.00 |
| BSV Vanguard Short-Term Bond ETF | Add +8.3% | 0.05% | 0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.3% | 0.08% | −0.00 |
| PEP Pepsico Inc. | Add +1.9% | 0.75% | −0.00 |
| RH RH | Add +0.6% | 0.45% | −0.00 |
| COWG Pacer US LRG Cap Cows GR LD | Add +2.5% | 0.12% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.3% | 0.86% | −0.00 |
| CSCO Cisco Systems Inc. | Add +3.5% | 0.05% | −0.00 |
| REGN Regeneron Pharmaceuticals | Add +0.7% | 0.49% | −0.00 |
| XOM Exxon Mobil Corp. | Add +3.0% | 1.07% | −0.01 |
| BND Vanguard Total Bond Market | Add +1.8% | 0.20% | −0.01 |
| UBER Uber Technologies Inc. | Add +1.2% | 0.55% | −0.01 |
| JEPI JPMorgan Equity Premium Inco | Add +1.3% | 0.18% | −0.01 |
| WMT Walmart Inc. | Add +0.7% | 0.99% | −0.02 |
| LLY Eli Lilly & Co. | Add +4.5% | 0.39% | −0.02 |
| AMGN Amgen Inc. | Add +3.7% | 0.70% | −0.03 |
| ECL Ecolab Inc. | Add +0.7% | 0.51% | −0.03 |
| EOG EOG Resources Inc. | Add +3.5% | 0.38% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.7% | 1.31% | −0.05 |
Notes & Other Activity Q2 2025 → Q3 2025
| TLSIW Medtech Acquisition Corp.-CW | *W EXP 08/10/202 | Reduce -50.5% | 11,000 | $19K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |