Islay Capital Management, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Islay Capital Management, LLC reported 182 stock positions worth $147.0 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 6.8% of the portfolio, followed by Avantis US Small Cap Value (AVUV, 4.6%) and Schwab US Broad Market ETF (SCHB, 4.4%). Compared with Q4 2024, it opened 17 new positions, sold out of 37, added to 22 and reduced 42. The biggest buy was Schwab Short-Term US Treas (SCHO, shares +146%) and the biggest sale iShares Core MSCI Eafe ETF (IEFA, shares −90%).

Most Recent 13F
Q2 2026
Location
Lubbock, TX
CIK
0001738560
Portfolio Value
$147.0M (Q1 2025)
SEC Filing
0001941040-25-000306 ↗ filed May 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $133.1M Q1 2024 Q2 2024: $138.0M Q2 2024 Q3 2024: $147.9M Q3 2024 Q4 2024: $142.9M Q4 2024 Q1 2025: $147.0M $147.0M Q1 2025 Q2 2025: $154.0M Q2 2025 Q3 2025: $172.7M Q3 2025 Q4 2025: $169.0M Q4 2025 Q1 2026: $195.9M Q1 2026 Q2 2026: $211.8M Q2 2026

Holdings 182 stocks · $147.0M
SCHD Schwab US DVD Equity ETF 6.80% 357,292 $10.0M Reduce -14.3%
AVUV Avantis US Small Cap Value 4.57% 76,993 $6.7M Add +32.0%
SCHB Schwab US Broad Market ETF 4.43% 302,673 $6.5M Reduce -13.9%
SCHO Schwab Short-Term US Treas 4.07% 245,837 $6.0M Add +145.7%
RSPT Invesco S&P 500 Equal Weight 3.86% 165,830 $5.7M Add +16.4%
BIL SS SPDR BB 1-3M T-Bill ETF 3.39% 54,290 $5.0M Add +100.5%
BRK.B Berkshire Hathaway Inc. Class B 3.09% 8,539 $4.5M Reduce -10.8%
CORP PIMCO Inv Grade Corp. BD ETF 3.08% 46,768 $4.5M Add +39.7%
AAPL Apple Inc. 3.07% 20,303 $4.5M Reduce -6.2%
IFLN Invesco Bloomberg Enhanced F 2.29% 186,454 $3.4M Reduce -11.9%
UYLD Angel Oak Ultrashort Income 2.19% 63,137 $3.2M Add +64.0%
MSFT Microsoft Corp. 2.06% 8,082 $3.0M Reduce -2.1%
OXY Occidental Petroleum Corp. 1.78% 52,929 $2.6M New
EMB iShares JP Morgan Usd Emergi 1.65% 26,815 $2.4M Reduce -39.5%
FRDM Freedom 100 Emeging MRKT ETF 1.63% 68,508 $2.4M Add +2.3%
UPS United Parcel Service Class B 1.55% 20,771 $2.3M New
FLTB Fidelity Ltd. TRM BND ETF 1.38% 40,355 $2.0M Add +354.9%
CASY Casey's General Stores Inc. 1.36% 4,606 $2.0M Reduce -19.3%
IVV iShares Core S&P 500 ETF 1.35% 3,543 $2.0M Reduce -18.1%
WFC Wells Fargo & Co. 1.34% 27,395 $2.0M Add +2.8%
AMZN Amazon.com Inc. 1.27% 9,778 $1.9M Add +182.6%
XOM Exxon Mobil Corp. 1.20% 14,865 $1.8M Reduce -0.7%
TXN Texas Instruments Inc. 1.16% 9,499 $1.7M Add +207.6%
LMT Lockheed Martin Corp. 1.10% 3,611 $1.6M Reduce -4.5%
COR Cencora Inc. 1.09% 5,769 $1.6M Reduce -28.4%
DGRO iShares Core Dividend Growth 1.07% 25,527 $1.6M Reduce -30.5%
GOOGL Alphabet Inc. Class A 1.06% 10,092 $1.6M Reduce -16.6%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 1.02% 13,178 $1.5M New
IEMG iShares Core MSCI Emerging 1.02% 27,724 $1.5M Reduce -10.9%
JNJ Johnson & Johnson 0.99% 8,748 $1.5M Reduce -5.4%
ONEQ Fidelity Nasdaq Comp Indx 0.98% 21,106 $1.4M Add +13.1%
TGT Target Corp. 0.96% 13,582 $1.4M Add +335.6%
SIG Signet Jewelers Ltd. 0.95% 24,155 $1.4M New
COP Conocophillips 0.94% 13,217 $1.4M Reduce -3.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.93% 17,324 $1.4M Reduce -14.9%
KR Kroger Co. 0.90% 19,605 $1.3M Add +30.5%
PLTR Palantir Technologies Inc. Class A 0.88% 15,315 $1.3M Reduce -51.3%
SYY Sysco Corp. 0.88% 17,201 $1.3M New
FCOR Fidelity Corporate Bond ETF 0.87% 27,102 $1.3M Add +66.2%
THC Tenet Healthcare Corp. 0.86% 9,397 $1.3M Add +71.7%
HUM Humana Inc. 0.85% 4,701 $1.2M New
ASO Academy Sports & Outdoors Inc. 0.82% 26,396 $1.2M New
GAP The Gap Inc. 0.81% 57,415 $1.2M New
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.80% 28,290 $1.2M Reduce -1.5%
VC Visteon Corp. 0.79% 14,954 $1.2M New
JAKK Jakks Pacific Inc. 0.78% 46,568 $1.1M New
AMLP Alerian MLP ETF 0.77% 21,693 $1.1M Reduce -0.7%
GPI Group 1 Automotive Inc. 0.74% 2,844 $1.1M New
BBY Best Buy Co. Inc. 0.74% 14,720 $1.1M New
DVY iShares Select Dividend ETF 0.72% 7,899 $1.1M Reduce -2.7%
APO Apollo Global Management Inc. 0.72% 7,723 $1.1M Reduce -3.9%
XBXMX Nuveen S&P 500 Buy-WR Inc. 0.72% 80,256 $1.1M Add +3.2%
DEM Wisdomtree Emerging Markets 0.72% 25,004 $1.1M No change
ALSN Allison Transmission Holding 0.71% 10,953 $1.0M Add +1.3%
MOH Molina Healthcare Inc. 0.71% 3,150 $1.0M New
TSCO Tractor Supply Company 0.70% 18,699 $1.0M Reduce -2.1%
PHYS Sprott Physical Gold Trust 0.67% 41,161 $990K No change
SCHW Schwab (charles) Corp. 0.66% 12,373 $969K Add +146.7%
CVX Chevron Corp. 0.63% 5,556 $929K Reduce -4.7%
SCHG Schwab US Large-Cap Growth 0.60% 35,164 $881K Reduce -5.9%
OHI Omega Healthcare Investors 0.51% 19,819 $755K No change
KKR KKR & Co. Inc. 0.51% 6,518 $754K Add +22.2%
JPM JPMorgan Chase & Co. 0.48% 2,898 $711K No change
CATH Global X S&P 500 Ca Val ETF 0.48% 10,412 $703K No change
PSLV Sprott Physical Silver Trust 0.47% 58,924 $684K No change
MPC Marathon Petroleum Corp. 0.46% 4,633 $675K Reduce -41.3%
SO The Southern Co. 0.43% 6,809 $626K No change
NVDA Nvidia Corp. 0.41% 5,500 $596K Reduce -18.5%
PSX Phillips 66 0.39% 4,635 $572K Reduce -6.1%
FNF Fidelity National Financial 0.38% 8,665 $564K New
EMR Emerson Electric Co. 0.33% 4,477 $491K No change
PDX PIMCO Dynamic Income Strat 0.32% 19,333 $474K Add +0.1%
COLD Americold Realty Trust Inc. 0.32% 21,628 $464K No change
TSM Taiwan Semiconductor-SP ADR 0.31% 2,756 $457K Reduce -0.9%
NEM Newmont Corp. 0.30% 9,092 $439K No change
VOD Vodafone Group PLC-SP ADR 0.25% 39,680 $372K No change
PAA Plains All Amer Pipeline LP 0.25% 18,300 $366K No change
CI The Cigna Group 0.22% 969 $319K Reduce -32.8%
IEFA iShares Core MSCI Eafe ETF 0.21% 4,085 $309K Reduce -90.0%
SBR Sabine Royalty Trust 0.18% 4,000 $270K No change
SPTL SS SPDR PF LNG TRM TSY E-Usd 0.17% 8,974 $245K Reduce -75.7%
HLNE Hamilton Lane Inc. Class A 0.15% 1,444 $215K Reduce -71.8%
BNDX Vanguard Total Intl Bond ETF 0.13% 3,873 $189K Reduce -0.9%
RTX RTX Corp. 0.12% 1,353 $179K No change
DE Deere & Co. 0.12% 380 $178K No change
HPK Highpeak Energy Inc. 0.11% 12,300 $156K No change
IJR iShares Core S&P Small-Cap E 0.11% 1,486 $155K Reduce -6.5%
BX Blackstone Inc. 0.10% 1,000 $140K No change
EPI Wisdomtree India Earnings 0.09% 3,000 $131K No change
MRSH Marsh & McLennan Cos 0.07% 450 $110K No change
LHX L3HARRIS Technologies Inc. 0.07% 523 $109K Reduce -8.7%
NUV Nuveen Municipal Value 0.07% 11,500 $101K No change
PRU Prudential Financial Inc. 0.07% 894 $100K No change
EIM Eaton Vance Municipal Bond 0.07% 10,000 $100K No change
NZF Nuveen Municipal Credit Inc. 0.07% 8,000 $98K No change
CARY Angel Oak Income ETF 0.06% 4,500 $93K No change
KO The Coca-Cola Co. 0.06% 1,300 $93K No change
NFLX Netflix Inc. 0.06% 95 $89K No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.06% 3,157 $87K No change
MCO Moody's Corp. 0.06% 183 $85K Reduce -43.5%

Show all 182 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 635$763KNo change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 300$370KNo change

Total filed on the 13F, all lines: $148.1M.

Portfolio Sells Q4 2024 → Q1 2025
IEFA iShares Core MSCI Eafe ETF Reduce -90.0% 0.21% −1.79
SCHD Schwab US DVD Equity ETF Reduce -14.3% 6.80% −1.17
SCHB Schwab US Broad Market ETF Reduce -13.9% 4.43% −1.15
EMB iShares JP Morgan Usd Emergi Reduce -39.5% 1.65% −1.11
CMCSA Comcast Corp. Class A Sold out 0.00% −1.01
UNH Unitedhealth Group Inc. Sold out 0.00% −1.01
PLTR Palantir Technologies Inc. Class A Reduce -51.3% 0.88% −0.78
AAPL Apple Inc. Reduce -6.2% 3.07% −0.73
GIII G-III Apparel Group Ltd. Sold out 0.00% −0.61
LBRT Liberty Energy Inc. Sold out 0.00% −0.59
JBL Jabil Inc. Sold out 0.00% −0.58
PPC Pilgrim's Pride Corp. Sold out 0.00% −0.57
CRI Carter's Inc. Sold out 0.00% −0.56
UAL United Airlines Holdings Inc. Sold out 0.00% −0.55
ACI Albertsons Cos Inc. Class A Sold out 0.00% −0.55
HY Hyster-Yale Inc. Sold out 0.00% −0.54
GOOGL Alphabet Inc. Class A Reduce -16.6% 1.06% −0.54
USFD US Foods Holding Corp. Sold out 0.00% −0.54
CHRW C.H. Robinson Worldwide Inc. Sold out 0.00% −0.53
ELV Elevance Health Inc. Reduce -98.3% 0.01% −0.53
CAH Cardinal Health Inc. Sold out 0.00% −0.53
DAL Delta Air Lines Inc. Sold out 0.00% −0.53
MUSA Murphy USA Inc. Sold out 0.00% −0.51
SPTL SS SPDR PF LNG TRM TSY E-Usd Reduce -75.7% 0.17% −0.51
BWA Borgwarner Inc. Sold out 0.00% −0.51
MCK McKesson Corp. Sold out 0.00% −0.51
DGRO iShares Core Dividend Growth Reduce -30.5% 1.07% −0.50
BTU Peabody Energy Corp. Sold out 0.00% −0.48
IVV iShares Core S&P 500 ETF Reduce -18.1% 1.35% −0.43
CMPR Cimpress PLC Sold out 0.00% −0.39
LKQ LKQ Corp. Sold out 0.00% −0.39
IFLN Invesco Bloomberg Enhanced F Reduce -11.9% 2.29% −0.39
HLNE Hamilton Lane Inc. Class A Reduce -71.8% 0.15% −0.38
MSFT Microsoft Corp. Reduce -2.1% 2.06% −0.37
MPC Marathon Petroleum Corp. Reduce -41.3% 0.46% −0.31
NVDA Nvidia Corp. Reduce -18.5% 0.41% −0.23
CASY Casey's General Stores Inc. Reduce -19.3% 1.36% −0.22
APO Apollo Global Management Inc. Reduce -3.9% 0.72% −0.21
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -14.9% 0.93% −0.19
LMT Lockheed Martin Corp. Reduce -4.5% 1.10% −0.19
COR Cencora Inc. Reduce -28.4% 1.09% −0.17
TLT iShares 20+ Year Treasury BD Reduce -72.8% 0.06% −0.15
SCHG Schwab US Large-Cap Growth Reduce -5.9% 0.60% −0.13
IEMG iShares Core MSCI Emerging Reduce -10.9% 1.02% −0.12
TSM Taiwan Semiconductor-SP ADR Reduce -0.9% 0.31% −0.07
CI The Cigna Group Reduce -32.8% 0.22% −0.06
MCO Moody's Corp. Reduce -43.5% 0.06% −0.05
PDCO Patterson Cos Inc. Sold out 0.00% −0.05
AES AES Corp. Sold out 0.00% −0.05
EXE Expand Energy Corp. Sold out 0.00% −0.02

Portfolio Buys Q4 2024 → Q1 2025
SCHO Schwab Short-Term US Treas Add +145.7% 4.07% +2.39
OXY Occidental Petroleum Corp. New 1.78% +1.78
BIL SS SPDR BB 1-3M T-Bill ETF Add +100.5% 3.39% +1.66
UPS United Parcel Service Class B New 1.55% +1.55
FLTB Fidelity Ltd. TRM BND ETF Add +354.9% 1.38% +1.07
BJ Bj's Wholesale Club Holdings New 1.02% +1.02
SIG Signet Jewelers Ltd. New 0.95% +0.95
SYY Sysco Corp. New 0.88% +0.88
CORP PIMCO Inv Grade Corp. BD ETF Add +39.7% 3.08% +0.85
HUM Humana Inc. New 0.85% +0.85
UYLD Angel Oak Ultrashort Income Add +64.0% 2.19% +0.82
ASO Academy Sports & Outdoors Inc. New 0.82% +0.82
GAP The Gap Inc. New 0.81% +0.81
VC Visteon Corp. New 0.79% +0.79
JAKK Jakks Pacific Inc. New 0.78% +0.78
TXN Texas Instruments Inc. Add +207.6% 1.16% +0.76
GPI Group 1 Automotive Inc. New 0.74% +0.74
BBY Best Buy Co. Inc. New 0.74% +0.74
AMZN Amazon.com Inc. Add +182.6% 1.27% +0.73
MOH Molina Healthcare Inc. New 0.71% +0.71
TGT Target Corp. Add +335.6% 0.96% +0.67
AVUV Avantis US Small Cap Value Add +32.0% 4.57% +0.62
SCHW Schwab (charles) Corp. Add +146.7% 0.66% +0.40
FNF Fidelity National Financial New 0.38% +0.38
THC Tenet Healthcare Corp. Add +71.7% 0.86% +0.38
FCOR Fidelity Corporate Bond ETF Add +66.2% 0.87% +0.34
KR Kroger Co. Add +30.5% 0.90% +0.26
RSPT Invesco S&P 500 Equal Weight Add +16.4% 3.86% +0.13
FRDM Freedom 100 Emeging MRKT ETF Add +2.3% 1.63% +0.10
LST Leuthold Sel Ind New 0.03% +0.03
WFC Wells Fargo & Co. Add +2.8% 1.34% +0.03
RC Ready Capital Corp. New 0.00% +0.00
SCHF Schwab Intl Equity ETF Add +2800.0% 0.00% +0.00
SCHZ Schwab US Aggregate Bond ETF New 0.00% +0.00
ONEQ Fidelity Nasdaq Comp Indx Add +13.1% 0.98% −0.02
PDX PIMCO Dynamic Income Strat Add +0.1% 0.32% −0.03
KKR KKR & Co. Inc. Add +22.2% 0.51% −0.04
XBXMX Nuveen S&P 500 Buy-WR Inc. Add +3.2% 0.72% −0.04
ALSN Allison Transmission Holding Add +1.3% 0.71% −0.10

Notes & Other Activity Q4 2024 → Q1 2025
T AT&T Inc. COM Sold out 0 $0before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 226$211.8MBIL, SCHD, UYLD, AVUV, CORP
Q1 2026 201$195.9MBIL, SCHD, UYLD, AVUV, CORP
Q4 2025 213$169.0MSCHD, UYLD, AVUV, RSPT, CORP
Q3 2025 213$172.7MSCHD, AVUV, UYLD, SCHB, BIL
Q2 2025 199$154.0MSCHD, AVUV, SCHB, RSPT, SCHO
Q1 2025 182$147.0MSCHD, AVUV, SCHB, SCHO, RSPT
Q4 2024 202$142.9MSCHD, SCHB, AVUV, AAPL, RSPT
Q3 2024Amended 206$147.9MSCHD, SCHB, RSPT, AVUV, BIL
Q2 2024 195$138.0MSCHD, SCHB, RSPT, AVUV, AAPL
Q1 2024 195$133.1MSCHD, SCHB, RSPT, AVUV, BRK.B