Islay Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Islay Capital Management, LLC reported 201 stock positions worth $195.9 million. Its top holding was SS SPDR BB 1-3M T-Bill ETF (BIL) at 8.6% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 7.7%) and Angel Oak Ultrashort Income (UYLD, 4.6%). Compared with Q4 2025, it opened 29 new positions, sold out of 41, added to 46 and reduced 49. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +182%) and the biggest sale Invesco S&P 500 Equal Weight (RSPT, shares −29%).
- Most Recent 13F
- Q2 2026
- Location
- Lubbock, TX
- CIK
- 0001738560
- Portfolio Value
- $195.9M (Q1 2026)
- SEC Filing
- 0001941040-26-000365 ↗ filed May 14, 2026
Holdings Value
Holdings 201 stocks · $195.9M
| BIL SS SPDR BB 1-3M T-Bill ETF | 8.60% | 183,834 | $16.8M | Add +181.8% |
| SCHD Schwab US DVD Equity ETF | 7.67% | 490,146 | $15.0M | Add +26.6% |
| UYLD Angel Oak Ultrashort Income | 4.57% | 175,457 | $9.0M | Add +15.4% |
| AVUV Avantis US Small Cap Value | 4.26% | 75,622 | $8.4M | Add +11.0% |
| CORP PIMCO Inv Grade Corp. BD ETF | 3.86% | 78,056 | $7.6M | Add +26.1% |
| SCHB Schwab US Broad Market ETF | 2.80% | 218,459 | $5.5M | Add +44.5% |
| SCHO Schwab Short-Term US Treas | 2.77% | 223,230 | $5.4M | Add +14.7% |
| FRDM Freedom 100 Emeging MRKT ETF | 2.57% | 92,180 | $5.0M | Add +3.9% |
| EMB iShares JP Morgan Usd Emergi | 2.49% | 51,937 | $4.9M | Add +137.2% |
| AAPL Apple Inc. | 2.44% | 18,803 | $4.8M | Reduce -2.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.39% | 9,758 | $4.7M | Add +0.8% |
| RSPT Invesco S&P 500 Equal Weight | 2.29% | 99,203 | $4.5M | Reduce -28.9% |
| IEFA iShares Core MSCI Eafe ETF | 2.06% | 44,678 | $4.0M | Add +39.6% |
| CASY Casey's General Stores Inc. | 2.00% | 5,385 | $3.9M | Reduce -12.4% |
| IEMG iShares Core MSCI Emerging | 1.90% | 53,232 | $3.7M | Reduce -11.3% |
| MSFT Microsoft Corp. | 1.65% | 8,745 | $3.2M | Add +1.5% |
| AMZN Amazon.com Inc. | 1.62% | 15,283 | $3.2M | Add +4.6% |
| IFLN Invesco Bloomberg Enhanced F | 1.52% | 166,205 | $3.0M | Reduce -5.8% |
| GOOGL Alphabet Inc. Class A | 1.42% | 9,644 | $2.8M | Add +2.2% |
| XOM Exxon Mobil Corp. | 1.40% | 16,202 | $2.7M | Reduce -5.2% |
| WFC Wells Fargo & Co. | 1.33% | 32,665 | $2.6M | Add +5.1% |
| LMT Lockheed Martin Corp. | 1.28% | 4,160 | $2.5M | Reduce -23.5% |
| JNJ Johnson & Johnson | 1.20% | 9,650 | $2.4M | Reduce -5.6% |
| DGRO iShares Core Dividend Growth | 1.20% | 33,367 | $2.3M | Add +56.7% |
| ALSN Allison Transmission Holding | 1.14% | 19,046 | $2.2M | Reduce -2.9% |
| COP Conocophillips | 1.13% | 16,759 | $2.2M | Add +5.4% |
| PLD Prologis Inc. | 1.11% | 16,443 | $2.2M | Reduce -3.5% |
| PLTR Palantir Technologies Inc. Class A | 1.08% | 14,516 | $2.1M | Reduce -2.0% |
| CARY Angel Oak Income ETF | 1.05% | 98,900 | $2.1M | Add +10.9% |
| JCPB JPMorgan Core Plus Bond ETF | 0.98% | 40,850 | $1.9M | Add +9184.1% |
| COR Cencora Inc. | 0.98% | 6,101 | $1.9M | Reduce -23.6% |
| FCOR Fidelity Corporate Bond ETF | 0.96% | 39,757 | $1.9M | Add +16.9% |
| SYK Stryker Corp. | 0.95% | 5,644 | $1.9M | Add +7962.9% |
| OHI Omega Healthcare Investors | 0.93% | 41,363 | $1.8M | Reduce -4.5% |
| FLTB Fidelity Ltd. TRM BND ETF | 0.91% | 35,598 | $1.8M | Add +20.5% |
| IVV iShares Core S&P 500 ETF | 0.87% | 2,610 | $1.7M | Add +28.8% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.84% | 31,965 | $1.6M | Reduce -9.2% |
| CVX Chevron Corp. | 0.79% | 7,527 | $1.6M | Add +1.2% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.77% | 57,600 | $1.5M | Add +15.7% |
| PHYS Sprott Physical Gold Trust | 0.73% | 40,161 | $1.4M | No change |
| AMLP Alerian MLP ETF | 0.65% | 24,200 | $1.3M | Add +9.0% |
| PSLV Sprott Physical Silver Trust | 0.64% | 51,124 | $1.2M | Reduce -10.5% |
| DEM Wisdomtree Emerging Markets | 0.63% | 24,869 | $1.2M | Reduce -0.8% |
| CNS Cohen & Steers Inc. | 0.61% | 18,968 | $1.2M | New |
| DVY iShares Select Dividend ETF | 0.58% | 7,465 | $1.1M | Reduce -2.5% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.57% | 14,143 | $1.1M | Reduce -13.1% |
| SCHW Schwab (charles) Corp. | 0.55% | 11,447 | $1.1M | Add +3.8% |
| XSSPX Nuveen S&P 500 Dynam Overwr | 0.55% | 66,611 | $1.1M | Reduce -11.4% |
| SCHG Schwab US Large-Cap Growth | 0.49% | 33,159 | $966K | Reduce -2.1% |
| NBHC National Bank Hold Class A | 0.45% | 22,647 | $887K | New |
| CATH Global X S&P 500 Ca Val ETF | 0.45% | 11,300 | $883K | Add +8.6% |
| KKR KKR & Co. Inc. | 0.43% | 9,196 | $851K | Add +4.5% |
| MPC Marathon Petroleum Corp. | 0.42% | 3,376 | $824K | No change |
| APO Apollo Global Management Inc. | 0.42% | 7,374 | $822K | Reduce -26.6% |
| META Meta Platforms Inc. Class A | 0.41% | 1,421 | $813K | Add +7.3% |
| SFD Smithfield Foods Inc. | 0.41% | 29,010 | $811K | Reduce -24.5% |
| ONEQ Fidelity Nasdaq Comp Indx | 0.39% | 9,091 | $772K | Reduce -45.6% |
| PSX Phillips 66 | 0.38% | 4,082 | $744K | Reduce -5.8% |
| SAIC Science Applications Inte | 0.38% | 7,771 | $738K | Reduce -19.4% |
| FG F&G Annuities & Life Inc. | 0.37% | 28,302 | $717K | Add +1714.2% |
| RGA Reinsurance Group of America | 0.35% | 3,377 | $689K | Reduce -22.9% |
| CAH Cardinal Health Inc. | 0.34% | 3,147 | $665K | Reduce -18.8% |
| NVDA Nvidia Corp. | 0.34% | 3,785 | $660K | Add +0.5% |
| DAL Delta Air Lines Inc. | 0.33% | 9,735 | $647K | New |
| AN Autonation Inc. | 0.33% | 3,273 | $639K | New |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.33% | 6,474 | $637K | New |
| CDW CDW Corp. | 0.32% | 5,214 | $631K | New |
| CSTM Constellium SE | 0.32% | 25,648 | $630K | New |
| ACI Albertsons Cos Inc. Class A | 0.31% | 35,690 | $608K | New |
| UNH Unitedhealth Group Inc. | 0.30% | 2,191 | $593K | Add +2091.0% |
| TLT iShares 20+ Year Treasury BD | 0.30% | 6,818 | $591K | Add +4.3% |
| ELV Elevance Health Inc. | 0.29% | 1,973 | $578K | Reduce -20.2% |
| MCK McKesson Corp. | 0.29% | 649 | $562K | New |
| UHS Universal Health Services-B | 0.29% | 3,128 | $560K | New |
| UAL United Airlines Holdings Inc. | 0.28% | 6,056 | $558K | New |
| NUTX Nutex Health Inc. | 0.28% | 5,807 | $552K | Add +2678.5% |
| BBWI Bath & Body Works Inc. | 0.27% | 28,100 | $525K | New |
| SYY Sysco Corp. | 0.26% | 7,038 | $502K | New |
| SHOP Shopify Inc. Class A | 0.22% | 3,594 | $426K | New |
| PAA Plains All Amer Pipeline LP | 0.21% | 18,300 | $409K | No change |
| PDX PIMCO Dynamic Income Strat | 0.18% | 16,028 | $354K | Add +1.0% |
| SSB Southstate Bank Corp. | 0.17% | 3,597 | $333K | Reduce -12.2% |
| SBAR Simplify Barrier Income ETF | 0.17% | 13,275 | $326K | Add +210.5% |
| SCHP Schwab U.S. Tips ETF | 0.14% | 10,000 | $266K | New |
| PGR Progressive Corp. | 0.13% | 1,330 | $264K | New |
| SBR Sabine Royalty Trust | 0.13% | 3,500 | $263K | No change |
| RTX RTX Corp. | 0.13% | 1,353 | $261K | No change |
| OSK Oshkosh Corp. | 0.13% | 1,700 | $250K | No change |
| HOMB Home Bancshares Inc. | 0.12% | 8,548 | $230K | Reduce -10.5% |
| BNDX Vanguard Total Intl Bond ETF | 0.12% | 4,717 | $227K | Reduce -88.2% |
| SO The Southern Co. | 0.11% | 2,203 | $213K | No change |
| NUV Nuveen Municipal Value | 0.10% | 21,750 | $196K | Add +42.6% |
| OEF iShares S&P 100 ETF | 0.10% | 600 | $191K | Add +50.0% |
| LHX L3HARRIS Technologies Inc. | 0.09% | 523 | $181K | No change |
| NG Novagold Resources Inc. | 0.09% | 20,000 | $180K | No change |
| DE Deere & Co. | 0.09% | 315 | $177K | No change |
| SLYG SS SPDR S&P 600 SC GR ETF | 0.08% | 1,700 | $164K | No change |
| IJR iShares Core S&P Small-Cap E | 0.07% | 1,031 | $128K | Reduce -30.4% |
| JPM JPMorgan Chase & Co. | 0.06% | 425 | $125K | Reduce -8.6% |
| XV Simplify Target 15 Distr ETF | 0.06% | 5,275 | $124K | Add +23.4% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 595 | $687K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 300 | $357K | No change |
Total filed on the 13F, all lines: $197.0M.
Portfolio Sells Q4 2025 → Q1 2026
| RSPT Invesco S&P 500 Equal Weight | Reduce -28.9% | 2.29% | −1.47 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -88.2% | 0.12% | −1.02 |
| FNF Fidelity National Financial | Reduce -99.2% | 0.01% | −0.84 |
| TSCO Tractor Supply Company | Sold out | 0.00% | −0.74 |
| AAPL Apple Inc. | Reduce -2.9% | 2.44% | −0.68 |
| COR Cencora Inc. | Reduce -23.6% | 0.98% | −0.62 |
| DG Dollar General Corp. | Reduce -93.2% | 0.03% | −0.57 |
| ONEQ Fidelity Nasdaq Comp Indx | Reduce -45.6% | 0.39% | −0.51 |
| IEMG iShares Core MSCI Emerging | Reduce -11.3% | 1.90% | −0.49 |
| PLTR Palantir Technologies Inc. Class A | Reduce -2.0% | 1.08% | −0.47 |
| WNC Wabash National Corp. | Reduce -93.4% | 0.03% | −0.47 |
| PPC Pilgrim's Pride Corp. | Reduce -93.1% | 0.03% | −0.47 |
| TNET Trinet Group Inc. | Reduce -96.1% | 0.01% | −0.47 |
| UVE Universal Insurance Holdings | Reduce -92.8% | 0.03% | −0.46 |
| APO Apollo Global Management Inc. | Reduce -26.6% | 0.42% | −0.44 |
| USFD US Foods Holding Corp. | Reduce -94.5% | 0.03% | −0.43 |
| IFLN Invesco Bloomberg Enhanced F | Reduce -5.8% | 1.52% | −0.42 |
| PARR Par Pacific Holdings Inc. | Reduce -93.4% | 0.04% | −0.34 |
| LMT Lockheed Martin Corp. | Reduce -23.5% | 1.28% | −0.27 |
| XSSPX Nuveen S&P 500 Dynam Overwr | Reduce -11.4% | 0.55% | −0.23 |
| ELV Elevance Health Inc. | Reduce -20.2% | 0.29% | −0.22 |
| OHI Omega Healthcare Investors | Reduce -4.5% | 0.93% | −0.21 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -13.1% | 0.57% | −0.20 |
| SAIC Science Applications Inte | Reduce -19.4% | 0.38% | −0.20 |
| PLD Prologis Inc. | Reduce -3.5% | 1.11% | −0.18 |
| RGA Reinsurance Group of America | Reduce -22.9% | 0.35% | −0.17 |
| PSLV Sprott Physical Silver Trust | Reduce -10.5% | 0.64% | −0.16 |
| SCHG Schwab US Large-Cap Growth | Reduce -2.1% | 0.49% | −0.16 |
| CAH Cardinal Health Inc. | Reduce -18.8% | 0.34% | −0.13 |
| MHO M/I Homes Inc. | Sold out | 0.00% | −0.12 |
| KR Kroger Co. | Sold out | 0.00% | −0.10 |
| HLNE Hamilton Lane Inc. Class A | Sold out | 0.00% | −0.10 |
| SFD Smithfield Foods Inc. | Reduce -24.5% | 0.41% | −0.09 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.09 |
| DFH Dream Finders Homes Inc. Class A | Sold out | 0.00% | −0.08 |
| DVY iShares Select Dividend ETF | Reduce -2.5% | 0.58% | −0.06 |
| DEM Wisdomtree Emerging Markets | Reduce -0.8% | 0.63% | −0.06 |
| SSB Southstate Bank Corp. | Reduce -12.2% | 0.17% | −0.06 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.05 |
| SPPP Sprott Physical Platinum And | Sold out | 0.00% | −0.05 |
| JNJ Johnson & Johnson | Reduce -5.6% | 1.20% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -30.4% | 0.07% | −0.04 |
| HOMB Home Bancshares Inc. | Reduce -10.5% | 0.12% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -8.6% | 0.06% | −0.02 |
| NBR Nabors Industries Ltd. | Sold out | 0.00% | −0.02 |
| PFE Pfizer Inc. | Reduce -83.8% | 0.00% | −0.02 |
| REMX Vaneck Rar Earth ND STG-Usdi | Sold out | 0.00% | −0.02 |
| CLMT Calumet Inc. | Sold out | 0.00% | −0.01 |
| SFM Sprouts Farmers Market Inc. | Sold out | 0.00% | −0.01 |
| CMPR Cimpress PLC | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +181.8% | 8.60% | +5.07 |
| SCHD Schwab US DVD Equity ETF | Add +26.6% | 7.67% | +1.39 |
| EMB iShares JP Morgan Usd Emergi | Add +137.2% | 2.49% | +1.24 |
| JCPB JPMorgan Core Plus Bond ETF | Add +9184.1% | 0.98% | +0.97 |
| SYK Stryker Corp. | Add +7962.9% | 0.95% | +0.93 |
| CNS Cohen & Steers Inc. | New | 0.61% | +0.61 |
| SCHB Schwab US Broad Market ETF | Add +44.5% | 2.80% | +0.45 |
| NBHC National Bank Hold Class A | New | 0.45% | +0.45 |
| IEFA iShares Core MSCI Eafe ETF | Add +39.6% | 2.06% | +0.37 |
| FG F&G Annuities & Life Inc. | Add +1714.2% | 0.37% | +0.34 |
| DAL Delta Air Lines Inc. | New | 0.33% | +0.33 |
| AN Autonation Inc. | New | 0.33% | +0.33 |
| BJ Bj's Wholesale Club Holdings | New | 0.33% | +0.33 |
| CDW CDW Corp. | New | 0.32% | +0.32 |
| CSTM Constellium SE | New | 0.32% | +0.32 |
| DGRO iShares Core Dividend Growth | Add +56.7% | 1.20% | +0.32 |
| ACI Albertsons Cos Inc. Class A | New | 0.31% | +0.31 |
| MCK McKesson Corp. | New | 0.29% | +0.29 |
| UHS Universal Health Services-B | New | 0.29% | +0.29 |
| UAL United Airlines Holdings Inc. | New | 0.28% | +0.28 |
| UNH Unitedhealth Group Inc. | Add +2091.0% | 0.30% | +0.28 |
| CORP PIMCO Inv Grade Corp. BD ETF | Add +26.1% | 3.86% | +0.27 |
| BBWI Bath & Body Works Inc. | New | 0.27% | +0.27 |
| NUTX Nutex Health Inc. | Add +2678.5% | 0.28% | +0.26 |
| SYY Sysco Corp. | New | 0.26% | +0.26 |
| COP Conocophillips | Add +5.4% | 1.13% | +0.25 |
| SHOP Shopify Inc. Class A | New | 0.22% | +0.22 |
| AVUV Avantis US Small Cap Value | Add +11.0% | 4.26% | +0.15 |
| SCHP Schwab U.S. Tips ETF | New | 0.14% | +0.14 |
| PGR Progressive Corp. | New | 0.13% | +0.13 |
| CVX Chevron Corp. | Add +1.2% | 0.79% | +0.12 |
| SBAR Simplify Barrier Income ETF | Add +210.5% | 0.17% | +0.10 |
| IVV iShares Core S&P 500 ETF | Add +28.8% | 0.87% | +0.05 |
| AMLP Alerian MLP ETF | Add +9.0% | 0.65% | +0.03 |
| FLTB Fidelity Ltd. TRM BND ETF | Add +20.5% | 0.91% | +0.03 |
| NUV Nuveen Municipal Value | Add +42.6% | 0.10% | +0.02 |
| OEF iShares S&P 100 ETF | Add +50.0% | 0.10% | +0.02 |
| MP MP Materials Corp. | New | 0.01% | +0.01 |
| VNQ Vanguard Real Estate ETF | Add +139.5% | 0.02% | +0.01 |
| SPNT Siriuspoint Ltd. | New | 0.01% | +0.01 |
| MMS Maximus Inc. | New | 0.01% | +0.01 |
| CMCO Columbus McKinnon Corp. | New | 0.01% | +0.01 |
| GEN Gen Digital Inc. | New | 0.01% | +0.01 |
| NBIS Nebius Group NV | New | 0.01% | +0.01 |
| ALOY Realloys Inc. | New | 0.01% | +0.01 |
| PDX PIMCO Dynamic Income Strat | Add +1.0% | 0.18% | +0.00 |
| NUE Nucor Corp. | Add +116.7% | 0.00% | +0.00 |
| CAT Caterpillar Inc. | Add +28.6% | 0.00% | +0.00 |
| WOLF Wolfspeed Inc. | New | 0.00% | +0.00 |
| ENPH Enphase Energy Inc. | New | 0.00% | +0.00 |
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 |