Islay Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Islay Capital Management, LLC reported 213 stock positions worth $172.7 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 6.4% of the portfolio, followed by Avantis US Small Cap Value (AVUV, 4.5%) and Angel Oak Ultrashort Income (UYLD, 4.3%). Compared with Q2 2025, it opened 32 new positions, sold out of 18, added to 54 and reduced 33. The biggest buy was Angel Oak Ultrashort Income (UYLD, shares +85%) and the biggest sale an exit from United Parcel Service Class B (UPS).
- Most Recent 13F
- Q2 2026
- Location
- Lubbock, TX
- CIK
- 0001738560
- Portfolio Value
- $172.7M (Q3 2025)
- SEC Filing
- 0001941040-25-000646 ↗ filed Nov 12, 2025
Holdings Value
Holdings 213 stocks · $172.7M
| SCHD Schwab US DVD Equity ETF | 6.39% | 404,160 | $11.0M | Add +7.5% |
| AVUV Avantis US Small Cap Value | 4.55% | 78,883 | $7.9M | Add +9.2% |
| UYLD Angel Oak Ultrashort Income | 4.27% | 144,271 | $7.4M | Add +85.2% |
| SCHB Schwab US Broad Market ETF | 3.94% | 264,854 | $6.8M | Add +3.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.44% | 64,740 | $5.9M | Add +20.4% |
| RSPT Invesco S&P 500 Equal Weight | 3.35% | 129,974 | $5.8M | Add +2.4% |
| SCHO Schwab Short-Term US Treas | 2.91% | 205,890 | $5.0M | Add +0.8% |
| AAPL Apple Inc. | 2.88% | 19,529 | $5.0M | Reduce -0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.83% | 9,738 | $4.9M | Add +13.3% |
| CORP PIMCO Inv Grade Corp. BD ETF | 2.79% | 48,895 | $4.8M | Add +6.4% |
| IEMG iShares Core MSCI Emerging | 2.66% | 69,803 | $4.6M | Add +1.7% |
| MSFT Microsoft Corp. | 2.63% | 8,757 | $4.5M | Add +7.9% |
| FRDM Freedom 100 Emeging MRKT ETF | 2.28% | 88,958 | $3.9M | Add +24.2% |
| CASY Casey's General Stores Inc. | 2.05% | 6,254 | $3.5M | Add +35.8% |
| AMZN Amazon.com Inc. | 1.90% | 14,914 | $3.3M | Add +52.5% |
| IFLN Invesco Bloomberg Enhanced F | 1.82% | 169,137 | $3.1M | Add +2.4% |
| PLTR Palantir Technologies Inc. Class A | 1.60% | 15,112 | $2.8M | Add +17.9% |
| WFC Wells Fargo & Co. | 1.53% | 31,555 | $2.6M | Add +15.2% |
| LMT Lockheed Martin Corp. | 1.49% | 5,148 | $2.6M | Add +42.6% |
| OXY Occidental Petroleum Corp. | 1.46% | 53,543 | $2.5M | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 1.33% | 9,481 | $2.3M | Reduce -5.8% |
| BNDX Vanguard Total Intl Bond ETF | 1.33% | 46,375 | $2.3M | Add +1.6% |
| IEFA iShares Core MSCI Eafe ETF | 1.18% | 23,270 | $2.0M | Add +3.3% |
| PLD Prologis Inc. | 1.16% | 17,444 | $2.0M | New |
| XOM Exxon Mobil Corp. | 1.14% | 17,471 | $2.0M | Add +17.5% |
| COR Cencora Inc. | 1.11% | 6,142 | $1.9M | Add +6.5% |
| OHI Omega Healthcare Investors | 1.08% | 44,209 | $1.9M | Add +123.1% |
| DGRO iShares Core Dividend Growth | 1.07% | 27,083 | $1.8M | Add +5.7% |
| IVV iShares Core S&P 500 ETF | 1.06% | 2,741 | $1.8M | Add +0.3% |
| JNJ Johnson & Johnson | 1.04% | 9,663 | $1.8M | Add +12.4% |
| FLTB Fidelity Ltd. TRM BND ETF | 1.01% | 34,417 | $1.7M | Reduce -0.3% |
| ALSN Allison Transmission Holding | 0.98% | 19,989 | $1.7M | Add +82.5% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.95% | 61,122 | $1.6M | No change |
| FNF Fidelity National Financial | 0.95% | 27,010 | $1.6M | Add +204.7% |
| COP Conocophillips | 0.88% | 16,140 | $1.5M | Add +22.1% |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | 0.84% | 100,987 | $1.5M | Add +32.3% |
| TSCO Tractor Supply Company | 0.84% | 25,625 | $1.5M | Add +33.6% |
| APO Apollo Global Management Inc. | 0.79% | 10,242 | $1.4M | Add +28.7% |
| ONEQ Fidelity Nasdaq Comp Indx | 0.78% | 15,100 | $1.3M | Reduce -0.4% |
| FCOR Fidelity Corporate Bond ETF | 0.78% | 27,971 | $1.3M | Add +4.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.76% | 37,944 | $1.3M | Add +39.1% |
| DEM Wisdomtree Emerging Markets | 0.75% | 28,118 | $1.3M | Add +8.1% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.74% | 15,770 | $1.3M | Add +1.1% |
| KKR KKR & Co. Inc. | 0.74% | 9,774 | $1.3M | Add +44.0% |
| PHYS Sprott Physical Gold Trust | 0.69% | 40,161 | $1.2M | No change |
| CVX Chevron Corp. | 0.68% | 7,599 | $1.2M | Add +36.8% |
| SCHW Schwab (charles) Corp. | 0.63% | 11,345 | $1.1M | Reduce -9.0% |
| DVY iShares Select Dividend ETF | 0.63% | 7,608 | $1.1M | Reduce -3.0% |
| SCHG Schwab US Large-Cap Growth | 0.63% | 33,858 | $1.1M | Reduce -4.1% |
| AMLP Alerian MLP ETF | 0.59% | 21,693 | $1.0M | No change |
| META Meta Platforms Inc. Class A | 0.58% | 1,356 | $996K | New |
| PSLV Sprott Physical Silver Trust | 0.52% | 57,124 | $897K | No change |
| CATH Global X S&P 500 Ca Val ETF | 0.49% | 10,406 | $843K | Reduce -0.1% |
| NVDA Nvidia Corp. | 0.47% | 4,310 | $804K | Reduce -21.4% |
| EMB iShares JP Morgan Usd Emergi | 0.44% | 7,963 | $758K | Reduce -26.8% |
| KR Kroger Co. | 0.43% | 10,925 | $736K | Reduce -28.3% |
| DFH Dream Finders Homes Inc. Class A | 0.42% | 27,830 | $721K | Reduce -42.5% |
| TLT iShares 20+ Year Treasury BD | 0.42% | 8,067 | $721K | Reduce -0.4% |
| MPC Marathon Petroleum Corp. | 0.38% | 3,376 | $651K | Reduce -27.1% |
| SBH Sally Beauty Holdings Inc. | 0.37% | 39,642 | $645K | New |
| UHS Universal Health Services-B | 0.36% | 3,025 | $618K | New |
| UVE Universal Insurance Holdings | 0.35% | 22,947 | $604K | Reduce -38.9% |
| PSX Phillips 66 | 0.34% | 4,335 | $590K | Reduce -6.5% |
| CAH Cardinal Health Inc. | 0.34% | 3,732 | $586K | Reduce -42.5% |
| HBI Hanesbrands Inc. | 0.33% | 86,733 | $572K | New |
| CARY Angel Oak Income ETF | 0.33% | 27,200 | $569K | Add +504.4% |
| MUSA Murphy USA Inc. | 0.33% | 1,462 | $568K | New |
| SYY Sysco Corp. | 0.33% | 6,872 | $566K | New |
| BBY Best Buy Co. Inc. | 0.33% | 7,456 | $564K | New |
| USFD US Foods Holding Corp. | 0.32% | 7,234 | $554K | Reduce -43.6% |
| AN Autonation Inc. | 0.32% | 2,526 | $553K | New |
| GIII G-III Apparel Group Ltd. | 0.32% | 20,464 | $545K | Reduce -41.7% |
| TGT Target Corp. | 0.31% | 5,964 | $535K | Add +79.8% |
| ABG Asbury Automotive Group | 0.31% | 2,163 | $529K | New |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.30% | 5,608 | $523K | New |
| HPQ HP Inc. | 0.30% | 19,131 | $521K | New |
| GPI Group 1 Automotive Inc. | 0.30% | 1,187 | $519K | Reduce -51.0% |
| TNET Trinet Group Inc. | 0.30% | 7,628 | $510K | New |
| WU Western Union Co. | 0.29% | 63,749 | $509K | New |
| PRG Prog Holdings Inc. | 0.29% | 15,713 | $508K | Reduce -55.4% |
| UAL United Airlines Holdings Inc. | 0.29% | 5,239 | $506K | New |
| DAL Delta Air Lines Inc. | 0.29% | 8,902 | $505K | Reduce -57.4% |
| SON Sonoco Products Co. | 0.29% | 11,643 | $502K | New |
| ACI Albertsons Cos Inc. Class A | 0.29% | 28,536 | $500K | Reduce -37.8% |
| PDX PIMCO Dynamic Income Strat | 0.27% | 18,861 | $470K | Add +0.1% |
| PAA Plains All Amer Pipeline LP | 0.18% | 18,300 | $312K | No change |
| CI The Cigna Group | 0.16% | 969 | $279K | No change |
| SBR Sabine Royalty Trust | 0.16% | 3,500 | $278K | Add +16.7% |
| RTX RTX Corp. | 0.13% | 1,353 | $226K | No change |
| MHO M/I Homes Inc. | 0.13% | 1,550 | $224K | Reduce -83.7% |
| OSK Oshkosh Corp. | 0.13% | 1,700 | $220K | Reduce -83.3% |
| SO The Southern Co. | 0.12% | 2,203 | $209K | Reduce -67.7% |
| NG Novagold Resources Inc. | 0.10% | 20,000 | $176K | No change |
| IJR iShares Core S&P Small-Cap E | 0.10% | 1,481 | $176K | Add +20.3% |
| BX Blackstone Inc. | 0.10% | 1,000 | $171K | No change |
| HLNE Hamilton Lane Inc. Class A | 0.09% | 1,200 | $162K | Reduce -16.9% |
| SLYG SS SPDR S&P 600 SC GR ETF | 0.09% | 1,700 | $160K | Add +41.7% |
| LHX L3HARRIS Technologies Inc. | 0.09% | 523 | $160K | No change |
| JPM JPMorgan Chase & Co. | 0.08% | 465 | $147K | Reduce -82.6% |
| DE Deere & Co. | 0.08% | 315 | $144K | Reduce -17.1% |
Options reported separately and not counted above: SPY puts ($999K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 635 | $784K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 300 | $384K | No change |
Total filed on the 13F, all lines: $173.9M.
Portfolio Sells Q2 2025 → Q3 2025
| UPS United Parcel Service Class B | Sold out | 0.00% | −1.34 |
| TXN Texas Instruments Inc. | Reduce -98.9% | 0.01% | −1.23 |
| MOH Molina Healthcare Inc. | Reduce -99.2% | 0.01% | −1.20 |
| SAH Sonic Automotive Inc. Class A | Sold out | 0.00% | −0.74 |
| MCY Mercury General Corp. | Sold out | 0.00% | −0.69 |
| MCK McKesson Corp. | Sold out | 0.00% | −0.68 |
| OSK Oshkosh Corp. | Reduce -83.3% | 0.13% | −0.62 |
| MHO M/I Homes Inc. | Reduce -83.7% | 0.13% | −0.56 |
| JPM JPMorgan Chase & Co. | Reduce -82.6% | 0.08% | −0.42 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -96.4% | 0.02% | −0.40 |
| GPI Group 1 Automotive Inc. | Reduce -51.0% | 0.30% | −0.39 |
| EMR Emerson Electric Co. | Reduce -98.9% | 0.00% | −0.38 |
| PRG Prog Holdings Inc. | Reduce -55.4% | 0.29% | −0.38 |
| DAL Delta Air Lines Inc. | Reduce -57.4% | 0.29% | −0.38 |
| DFH Dream Finders Homes Inc. Class A | Reduce -42.5% | 0.42% | −0.37 |
| CAH Cardinal Health Inc. | Reduce -42.5% | 0.34% | −0.37 |
| ACI Albertsons Cos Inc. Class A | Reduce -37.8% | 0.29% | −0.35 |
| UVE Universal Insurance Holdings | Reduce -38.9% | 0.35% | −0.33 |
| USFD US Foods Holding Corp. | Reduce -43.6% | 0.32% | −0.32 |
| SO The Southern Co. | Reduce -67.7% | 0.12% | −0.29 |
| KR Kroger Co. | Reduce -28.3% | 0.43% | −0.28 |
| VOD Vodafone Group PLC-SP ADR | Sold out | 0.00% | −0.26 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.24 |
| EMB iShares JP Morgan Usd Emergi | Reduce -26.8% | 0.44% | −0.22 |
| GIII G-III Apparel Group Ltd. | Reduce -41.7% | 0.32% | −0.20 |
| MPC Marathon Petroleum Corp. | Reduce -27.1% | 0.38% | −0.12 |
| FLTB Fidelity Ltd. TRM BND ETF | Reduce -0.3% | 1.01% | −0.12 |
| SCHW Schwab (charles) Corp. | Reduce -9.0% | 0.63% | −0.11 |
| NVDA Nvidia Corp. | Reduce -21.4% | 0.47% | −0.10 |
| DVY iShares Select Dividend ETF | Reduce -3.0% | 0.63% | −0.05 |
| TLT iShares 20+ Year Treasury BD | Reduce -0.4% | 0.42% | −0.05 |
| SCHG Schwab US Large-Cap Growth | Reduce -4.1% | 0.63% | −0.04 |
| DE Deere & Co. | Reduce -17.1% | 0.08% | −0.04 |
| HLNE Hamilton Lane Inc. Class A | Reduce -16.9% | 0.09% | −0.04 |
| CATH Global X S&P 500 Ca Val ETF | Reduce -0.1% | 0.49% | −0.02 |
| PSX Phillips 66 | Reduce -6.5% | 0.34% | −0.02 |
| GLW Corning Inc. | Sold out | 0.00% | −0.02 |
| ONEQ Fidelity Nasdaq Comp Indx | Reduce -0.4% | 0.78% | −0.01 |
| DOW Dow Inc. | Sold out | 0.00% | −0.01 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.01 |
| ACDC Profrac Holding Corp. Class A | Sold out | 0.00% | −0.01 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.00 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.00 |
| PTEN Patterson-Uti Energy Inc. | Sold out | 0.00% | −0.00 |
| RGTI Rigetti Computing Inc. | Sold out | 0.00% | −0.00 |
| GH Guardant Health Inc. | Sold out | 0.00% | −0.00 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −0.00 |
| TAK Takeda Pharmaceutic-SP ADR | Sold out | 0.00% | −0.00 |
| TWFG TWFG Inc. | Sold out | 0.00% | −0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -5.8% | 1.33% | +0.18 |
Portfolio Buys Q2 2025 → Q3 2025
| UYLD Angel Oak Ultrashort Income | Add +85.2% | 4.27% | +1.69 |
| PLD Prologis Inc. | New | 1.16% | +1.16 |
| FNF Fidelity National Financial | Add +204.7% | 0.95% | +0.62 |
| OHI Omega Healthcare Investors | Add +123.1% | 1.08% | +0.61 |
| META Meta Platforms Inc. Class A | New | 0.58% | +0.58 |
| CASY Casey's General Stores Inc. | Add +35.8% | 2.05% | +0.52 |
| AMZN Amazon.com Inc. | Add +52.5% | 1.90% | +0.50 |
| PLTR Palantir Technologies Inc. Class A | Add +17.9% | 1.60% | +0.46 |
| FRDM Freedom 100 Emeging MRKT ETF | Add +24.2% | 2.28% | +0.40 |
| LMT Lockheed Martin Corp. | Add +42.6% | 1.49% | +0.40 |
| SBH Sally Beauty Holdings Inc. | New | 0.37% | +0.37 |
| UHS Universal Health Services-B | New | 0.36% | +0.36 |
| HBI Hanesbrands Inc. | New | 0.33% | +0.33 |
| MUSA Murphy USA Inc. | New | 0.33% | +0.33 |
| SYY Sysco Corp. | New | 0.33% | +0.33 |
| BBY Best Buy Co. Inc. | New | 0.33% | +0.33 |
| AN Autonation Inc. | New | 0.32% | +0.32 |
| ALSN Allison Transmission Holding | Add +82.5% | 0.98% | +0.31 |
| ABG Asbury Automotive Group | New | 0.31% | +0.31 |
| BJ Bj's Wholesale Club Holdings | New | 0.30% | +0.30 |
| HPQ HP Inc. | New | 0.30% | +0.30 |
| TNET Trinet Group Inc. | New | 0.30% | +0.30 |
| WU Western Union Co. | New | 0.29% | +0.29 |
| UAL United Airlines Holdings Inc. | New | 0.29% | +0.29 |
| SON Sonoco Products Co. | New | 0.29% | +0.29 |
| AVUV Avantis US Small Cap Value | Add +9.2% | 4.55% | +0.27 |
| CARY Angel Oak Income ETF | Add +504.4% | 0.33% | +0.27 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +20.4% | 3.44% | +0.24 |
| TSCO Tractor Supply Company | Add +33.6% | 0.84% | +0.19 |
| JNJ Johnson & Johnson | Add +12.4% | 1.04% | +0.18 |
| CVX Chevron Corp. | Add +36.8% | 0.68% | +0.17 |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | Add +32.3% | 0.84% | +0.16 |
| SLB SLB Ltd. | Add +39.1% | 0.76% | +0.16 |
| KKR KKR & Co. Inc. | Add +44.0% | 0.74% | +0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +13.3% | 2.83% | +0.12 |
| COP Conocophillips | Add +22.1% | 0.88% | +0.11 |
| WFC Wells Fargo & Co. | Add +15.2% | 1.53% | +0.11 |
| XOM Exxon Mobil Corp. | Add +17.5% | 1.14% | +0.10 |
| TGT Target Corp. | Add +79.8% | 0.31% | +0.10 |
| APO Apollo Global Management Inc. | Add +28.7% | 0.79% | +0.06 |
| XV Simplify Target 15 Distr ETF | New | 0.04% | +0.04 |
| SBAR Simplify Barrier Income ETF | New | 0.04% | +0.04 |
| IBIT iShares Bitcoin Trust ETF | New | 0.04% | +0.04 |
| OXY Occidental Petroleum Corp. | Add +2.3% | 1.46% | +0.04 |
| SBR Sabine Royalty Trust | Add +16.7% | 0.16% | +0.03 |
| SLYG SS SPDR S&P 600 SC GR ETF | Add +41.7% | 0.09% | +0.02 |
| OEF iShares S&P 100 ETF | Add +33.3% | 0.08% | +0.02 |
| IJR iShares Core S&P Small-Cap E | Add +20.3% | 0.10% | +0.01 |
| RRC Range Resources Corp. | New | 0.01% | +0.01 |
| IDR Idaho Strategic Resources Inc. | New | 0.01% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 1,500 | $999K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 226 | $211.8M | BIL, SCHD, UYLD, AVUV, CORP |
| Q1 2026 | 201 | $195.9M | BIL, SCHD, UYLD, AVUV, CORP |
| Q4 2025 | 213 | $169.0M | SCHD, UYLD, AVUV, RSPT, CORP |
| Q3 2025 | 213 | $172.7M | SCHD, AVUV, UYLD, SCHB, BIL |
| Q2 2025 | 199 | $154.0M | SCHD, AVUV, SCHB, RSPT, SCHO |
| Q1 2025 | 182 | $147.0M | SCHD, AVUV, SCHB, SCHO, RSPT |
| Q4 2024 | 202 | $142.9M | SCHD, SCHB, AVUV, AAPL, RSPT |
| Q3 2024Amended | 206 | $147.9M | SCHD, SCHB, RSPT, AVUV, BIL |
| Q2 2024 | 195 | $138.0M | SCHD, SCHB, RSPT, AVUV, AAPL |
| Q1 2024 | 195 | $133.1M | SCHD, SCHB, RSPT, AVUV, BRK.B |