L2 Asset Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), L2 Asset Management, LLC reported 273 stock positions worth $486.5 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 4.2% of the portfolio, followed by Apple (AAPL, 3.0%) and Schwab 5-10 Year Corporate B (SCHI, 2.9%). Compared with Q4 2024, it opened 41 new positions, sold out of 15, added to 203 and reduced 28. The biggest buy was a new position in Schwab US Large-Cap ETF (SCHX) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −27%).
- Most Recent 13F
- Q2 2026
- Location
- Wayland, MA
- CIK
- 0001686988
- Portfolio Value
- $486.5M (Q1 2025)
- SEC Filing
- 0000919574-25-003094 ↗ filed May 15, 2025
Holdings Value
Holdings 273 stocks · $486.5M
| SGOV iShares 0-3 Month Treasury B | 4.20% | 202,821 | $20.4M | Reduce -27.2% |
| AAPL Apple Inc. | 3.02% | 66,073 | $14.7M | Add +10.6% |
| SCHI Schwab 5-10 Year Corporate B | 2.93% | 635,215 | $14.3M | Add +1.6% |
| MSFT Microsoft Corp. | 2.68% | 34,764 | $13.1M | Add +11.1% |
| META Meta Platforms Inc. Class A | 2.50% | 21,098 | $12.2M | Reduce -2.3% |
| NVDA Nvidia Corp. | 2.23% | 100,245 | $10.9M | Add +9.7% |
| MTBA Simplify MBS ETF | 1.98% | 191,714 | $9.6M | Add +3.3% |
| JAAA Janus Henderson Aaa Clo ETF | 1.95% | 186,935 | $9.5M | Add +1.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.85% | 36,201 | $9.0M | Reduce -3.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.84% | 180,706 | $9.0M | Add +1.3% |
| JPM JPMorgan Chase & Co. | 1.55% | 30,807 | $7.6M | Add +21.9% |
| CPAY Corpay Inc. | 1.47% | 20,556 | $7.2M | Add +13.8% |
| EXPE Expedia Group Inc. | 1.38% | 40,022 | $6.7M | Reduce -8.8% |
| DKS Dick's Sporting Goods Inc. | 1.34% | 32,396 | $6.5M | Reduce -17.7% |
| LOGI Logitech International-Reg | 1.30% | 75,183 | $6.3M | Reduce -9.5% |
| SYF Synchrony Financial | 1.28% | 117,246 | $6.2M | Add +25.2% |
| QCOM Qualcomm Inc. | 1.27% | 40,184 | $6.2M | Add +13.5% |
| RL Ralph Lauren Corp. | 1.26% | 27,754 | $6.1M | Reduce -2.1% |
| NTAP Netapp Inc. | 1.22% | 67,749 | $6.0M | Add +15.1% |
| EBAY eBay Inc. | 1.22% | 87,654 | $5.9M | Reduce -6.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.20% | 10,986 | $5.9M | Add +47.0% |
| CAH Cardinal Health Inc. | 1.17% | 41,344 | $5.7M | Reduce -19.6% |
| AMP Ameriprise Financial Inc. | 1.16% | 11,680 | $5.7M | Add +39.8% |
| WSM Williams-Sonoma Inc. | 1.16% | 35,763 | $5.7M | Add +51.0% |
| APP AppLovin Corp. Class A | 1.16% | 21,280 | $5.6M | Add +16.0% |
| OMC Omnicom Group | 1.13% | 66,239 | $5.5M | Add +51.7% |
| DFS Discover Financial Services | 1.13% | 32,128 | $5.5M | Add +11.3% |
| WFC Wells Fargo & Co. | 1.07% | 72,400 | $5.2M | Add +31.1% |
| GOOGL Alphabet Inc. Class A | 1.06% | 33,246 | $5.1M | Reduce -22.4% |
| MPC Marathon Petroleum Corp. | 1.04% | 34,805 | $5.1M | Add +48.0% |
| AXP American Express Co. | 1.00% | 18,012 | $4.8M | Add +19.9% |
| SCHQ Schwab Long-Term US Treasury | 0.99% | 146,342 | $4.8M | Add +3.2% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.97% | 73,280 | $4.7M | Add +1.3% |
| SCYB Schwab High Yield Bond ETF | 0.96% | 178,219 | $4.7M | Add +1.3% |
| COR Cencora Inc. | 0.96% | 16,720 | $4.6M | Add +19.2% |
| DELL Dell Technologies -C | 0.95% | 50,715 | $4.6M | Add +25.5% |
| JBL Jabil Inc. | 0.92% | 32,997 | $4.5M | Add +44.5% |
| QPFF American Century Qual Pref | 0.92% | 126,838 | $4.5M | Add +1.4% |
| PFXF Vaneck Pref Sec X-Financials | 0.91% | 263,572 | $4.4M | Add +1.4% |
| UTHR United Therapeutics Corp. | 0.88% | 13,897 | $4.3M | Add +10.5% |
| FLEX Flex Ltd. | 0.85% | 124,705 | $4.1M | Add +44.4% |
| COKE Coca-Cola Consolidated Inc. | 0.83% | 3,009 | $4.1M | Add +176.8% |
| CSCO Cisco Systems Inc. | 0.79% | 62,551 | $3.9M | Add +3.8% |
| HOLX Hologic Inc. | 0.79% | 62,194 | $3.8M | Add +17.1% |
| CRBG Corebridge Financial Inc. | 0.79% | 121,679 | $3.8M | Add +9.3% |
| ABBV Abbvie Inc. | 0.78% | 18,032 | $3.8M | Add +23.3% |
| FOXA Fox Corp. Class A | 0.78% | 66,635 | $3.8M | Add +137.0% |
| BURL Burlington Stores Inc. | 0.77% | 15,780 | $3.8M | Add +60.8% |
| CHKP Check Point Software Tech | 0.76% | 16,203 | $3.7M | Add +12.3% |
| OC Owens Corning | 0.76% | 25,848 | $3.7M | Reduce -17.0% |
| AVGO Broadcom Inc. | 0.68% | 19,733 | $3.3M | Add +11.2% |
| GOOG Alphabet Inc. Class C | 0.66% | 20,408 | $3.2M | Add +11.4% |
| GILD Gilead Sciences Inc. | 0.64% | 27,924 | $3.1M | Add +480.9% |
| TSLA Tesla Inc. | 0.64% | 12,061 | $3.1M | Add +11.4% |
| SCHX Schwab US Large-Cap ETF | 0.62% | 137,647 | $3.0M | New |
| PYPL PayPal Holdings Inc. | 0.62% | 46,205 | $3.0M | Add +194.3% |
| BBY Best Buy Co. Inc. | 0.60% | 39,732 | $2.9M | Add +78.1% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.59% | 36,873 | $2.9M | Add +21.6% |
| AKAM Akamai Technologies Inc. | 0.58% | 35,302 | $2.8M | Add +73.8% |
| V Visa Inc. Class A | 0.52% | 7,249 | $2.5M | Add +13.2% |
| EFV iShares MSCI Eafe Value ETF | 0.52% | 42,534 | $2.5M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.49% | 56,689 | $2.4M | Reduce -56.9% |
| ALV Autoliv Inc. | 0.47% | 26,065 | $2.3M | Add +53.0% |
| XOM Exxon Mobil Corp. | 0.46% | 18,776 | $2.2M | Add +9.9% |
| NXPI NXP Semiconductors NV | 0.44% | 11,249 | $2.1M | Add +33.5% |
| AVUV Avantis US Small Cap Value | 0.42% | 23,326 | $2.0M | New |
| AMGN Amgen Inc. | 0.42% | 6,523 | $2.0M | Reduce -4.2% |
| PG The Procter & Gamble Co. | 0.41% | 11,773 | $2.0M | Add +8.0% |
| MA Mastercard Inc. Class A | 0.39% | 3,466 | $1.9M | Add +9.6% |
| STLA Stellantis NV | 0.38% | 163,895 | $1.8M | Add +52.6% |
| WMT Walmart Inc. | 0.37% | 20,551 | $1.8M | Add +12.3% |
| COST Costco Wholesale Corp. | 0.37% | 1,894 | $1.8M | Add +11.8% |
| ZM Zoom Communications Inc. | 0.36% | 23,926 | $1.8M | New |
| NFLX Netflix Inc. | 0.35% | 1,824 | $1.7M | Add +12.0% |
| CSL Carlisle Cos Inc. | 0.33% | 4,649 | $1.6M | Add +22.4% |
| HD Home Depot Inc. | 0.32% | 4,277 | $1.6M | Add +12.7% |
| LVS Las Vegas Sands Corp. | 0.31% | 39,313 | $1.5M | Add +37.0% |
| GEN Gen Digital Inc. | 0.31% | 56,656 | $1.5M | Add +93.7% |
| EA Electronic Arts Inc. | 0.29% | 9,677 | $1.4M | Add +113.5% |
| FFIV F5 Inc. | 0.29% | 5,218 | $1.4M | Reduce -55.0% |
| SCHG Schwab US Large-Cap Growth | 0.29% | 55,442 | $1.4M | New |
| SWKS Skyworks Solutions Inc. | 0.27% | 20,570 | $1.3M | Add +52.8% |
| CAT Caterpillar Inc. | 0.27% | 3,975 | $1.3M | Reduce -56.3% |
| BMY Bristol-Myers Squibb Co. | 0.26% | 20,400 | $1.2M | Add +10.6% |
| ABNB Airbnb Inc. Class A | 0.25% | 10,248 | $1.2M | Reduce -13.8% |
| CVX Chevron Corp. | 0.24% | 7,118 | $1.2M | Add +8.9% |
| ORCL Oracle Corp. | 0.24% | 8,320 | $1.2M | Add +15.6% |
| AMAT Applied Materials Inc. | 0.24% | 7,996 | $1.2M | Reduce -47.1% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.24% | 41,695 | $1.1M | New |
| HAL Halliburton Co. | 0.23% | 43,357 | $1.1M | New |
| CRM Salesforce Inc. | 0.22% | 3,991 | $1.1M | Add +13.8% |
| KO The Coca-Cola Co. | 0.22% | 14,942 | $1.1M | Add +10.2% |
| XP XP Inc. Class A | 0.20% | 70,955 | $976K | Add +27.9% |
| MCD McDonald's Corp. | 0.20% | 3,057 | $955K | Add +9.7% |
| LIN Linde PLC | 0.19% | 2,034 | $947K | Add +10.3% |
| GE General Electric filed as GE AEROSPACE | 0.18% | 4,424 | $885K | Add +8.9% |
| PEP Pepsico Inc. | 0.18% | 5,841 | $876K | Add +10.2% |
| T AT&T Inc. | 0.18% | 30,460 | $861K | Add +11.0% |
| ACN Accenture PLC Class A | 0.17% | 2,663 | $831K | Add +9.7% |
| LYV Live Nation Entertainment Inc. | 0.17% | 6,325 | $826K | Reduce -63.1% |
Options reported separately and not counted above: SPY puts ($2.4M), IWM puts ($606K).
Portfolio Sells Q4 2024 → Q1 2025
| SGOV iShares 0-3 Month Treasury B | Reduce -27.2% | 4.20% | −1.90 |
| BAC Bank of America Corp. | Reduce -56.9% | 0.49% | −0.78 |
| GOOGL Alphabet Inc. Class A | Reduce -22.4% | 1.06% | −0.71 |
| DKS Dick's Sporting Goods Inc. | Reduce -17.7% | 1.34% | −0.62 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.52 |
| CAT Caterpillar Inc. | Reduce -56.3% | 0.27% | −0.45 |
| EXPE Expedia Group Inc. | Reduce -8.8% | 1.38% | −0.40 |
| OC Owens Corning | Reduce -17.0% | 0.76% | −0.40 |
| NVR NVR Inc. | Sold out | 0.00% | −0.37 |
| FFIV F5 Inc. | Reduce -55.0% | 0.29% | −0.35 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.33 |
| LYV Live Nation Entertainment Inc. | Reduce -63.1% | 0.17% | −0.31 |
| AMAT Applied Materials Inc. | Reduce -47.1% | 0.24% | −0.30 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.28 |
| META Meta Platforms Inc. Class A | Reduce -2.3% | 2.50% | −0.26 |
| DINO HF Sinclair Corp. | Sold out | 0.00% | −0.25 |
| EXPD Expeditors Intl Wash Inc. | Sold out | 0.00% | −0.24 |
| ETSY Etsy Inc. | Sold out | 0.00% | −0.24 |
| LOGI Logitech International-Reg | Reduce -9.5% | 1.30% | −0.19 |
| RL Ralph Lauren Corp. | Reduce -2.1% | 1.26% | −0.17 |
| CAH Cardinal Health Inc. | Reduce -19.6% | 1.17% | −0.16 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.16 |
| BLK BlackRock Inc. | Sold out | 0.00% | −0.12 |
| SLB SLB Ltd. | Reduce -67.1% | 0.05% | −0.10 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.09 |
| ABNB Airbnb Inc. Class A | Reduce -13.8% | 0.25% | −0.09 |
| TPG TPG Inc. | Sold out | 0.00% | −0.07 |
| PKG Packaging Corp. of America | Sold out | 0.00% | −0.05 |
| BJ Bj's Wholesale Club Holdings | Sold out | 0.00% | −0.05 |
| EBAY eBay Inc. | Reduce -6.8% | 1.22% | −0.05 |
| VLO Valero Energy Corp. | Reduce -34.5% | 0.09% | −0.05 |
| SRE Sempra | Sold out | 0.00% | −0.05 |
| ADSK Autodesk Inc. | Reduce -37.6% | 0.05% | −0.05 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.04 |
| VST Vistra Corp. | Reduce -10.8% | 0.08% | −0.03 |
| PM Philip Morris International | Reduce -40.0% | 0.09% | −0.03 |
| KMB Kimberly-Clark Corp. | Reduce -16.6% | 0.17% | −0.03 |
| KLAC KLA Corp. | Reduce -26.0% | 0.08% | −0.03 |
| STT State Street Corp. | Reduce -6.2% | 0.07% | −0.02 |
| COP Conocophillips | Reduce -9.2% | 0.15% | −0.02 |
| INTC Intel Corp. | Reduce -9.3% | 0.07% | −0.00 |
| AMGN Amgen Inc. | Reduce -4.2% | 0.42% | +0.03 |
| IBM Intl Business Machines Corp. | Reduce -3.2% | 1.85% | +0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| SCHX Schwab US Large-Cap ETF | New | 0.62% | +0.62 |
| GILD Gilead Sciences Inc. | Add +480.9% | 0.64% | +0.55 |
| COKE Coca-Cola Consolidated Inc. | Add +176.8% | 0.83% | +0.54 |
| EFV iShares MSCI Eafe Value ETF | New | 0.52% | +0.52 |
| FOXA Fox Corp. Class A | Add +137.0% | 0.78% | +0.48 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +47.0% | 1.20% | +0.46 |
| AVUV Avantis US Small Cap Value | New | 0.42% | +0.42 |
| ZM Zoom Communications Inc. | New | 0.36% | +0.36 |
| PYPL PayPal Holdings Inc. | Add +194.3% | 0.62% | +0.33 |
| MPC Marathon Petroleum Corp. | Add +48.0% | 1.04% | +0.33 |
| OMC Omnicom Group | Add +51.7% | 1.13% | +0.31 |
| SCHG Schwab US Large-Cap Growth | New | 0.29% | +0.29 |
| COR Cencora Inc. | Add +19.2% | 0.96% | +0.27 |
| SCHE Schwab Emrg Mrkts Eqty ETF | New | 0.24% | +0.24 |
| JPM JPMorgan Chase & Co. | Add +21.9% | 1.55% | +0.23 |
| HAL Halliburton Co. | New | 0.23% | +0.23 |
| WFC Wells Fargo & Co. | Add +31.1% | 1.07% | +0.22 |
| ABBV Abbvie Inc. | Add +23.3% | 0.78% | +0.21 |
| JBL Jabil Inc. | Add +44.5% | 0.92% | +0.21 |
| WSM Williams-Sonoma Inc. | Add +51.0% | 1.16% | +0.21 |
| AMP Ameriprise Financial Inc. | Add +39.8% | 1.16% | +0.19 |
| BBY Best Buy Co. Inc. | Add +78.1% | 0.60% | +0.18 |
| CHKP Check Point Software Tech | Add +12.3% | 0.76% | +0.17 |
| BURL Burlington Stores Inc. | Add +60.8% | 0.77% | +0.16 |
| AKAM Akamai Technologies Inc. | Add +73.8% | 0.58% | +0.16 |
| UNM Unum Group | New | 0.16% | +0.16 |
| EUSA iShares MSCI USA Equal Weigh | New | 0.15% | +0.15 |
| PPC Pilgrim's Pride Corp. | New | 0.14% | +0.14 |
| EA Electronic Arts Inc. | Add +113.5% | 0.29% | +0.14 |
| CPAY Corpay Inc. | Add +13.8% | 1.47% | +0.14 |
| GEN Gen Digital Inc. | Add +93.7% | 0.31% | +0.13 |
| PHYS Sprott Physical Gold Trust | New | 0.13% | +0.13 |
| ALV Autoliv Inc. | Add +53.0% | 0.47% | +0.13 |
| FLEX Flex Ltd. | Add +44.4% | 0.85% | +0.12 |
| ESAB Esab Corp. | New | 0.12% | +0.12 |
| SCHF Schwab Intl Equity ETF | New | 0.11% | +0.11 |
| MRK Merck & Co. Inc. | New | 0.11% | +0.11 |
| ACM Aecom | New | 0.11% | +0.11 |
| VAL Valaris Ltd. | New | 0.11% | +0.11 |
| GIS General Mills Inc. | Add +196.1% | 0.16% | +0.10 |
| VC Visteon Corp. | New | 0.10% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.09% | +0.09 |
| NJR New Jersey Resources Corp. | New | 0.09% | +0.09 |
| NYT New York Times Co. Class A | New | 0.09% | +0.09 |
| QCOM Qualcomm Inc. | Add +13.5% | 1.27% | +0.08 |
| V Visa Inc. Class A | Add +13.2% | 0.52% | +0.08 |
| KNSL Kinsale Capital Group Inc. | Add +107.9% | 0.15% | +0.08 |
| CHE Chemed Corp. | Add +138.2% | 0.13% | +0.08 |
| RNR Renaissancere Holdings Ltd. | Add +192.9% | 0.12% | +0.08 |
| ENSG The Ensign Group Inc. | New | 0.08% | +0.08 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -59.6% | 53,900 | $2.4M |
| IWM iShares Russell 2000 ETF | put | New | 370 | $606K |
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 | 411 | $962.8M | JAAA, NVDA, AAPL, SGOV, SCHX |
| Q1 2026 | 397 | $1.1B | SGOV, SCHX, SCHI, MTBA, AVUV |
| Q4 2025 | 366 | $748.5M | SGOV, NVDA, AAPL, MSFT, SCHX |
| Q3 2025 | 363 | $691.1M | SGOV, NVDA, MSFT, AAPL, SCHI |
| Q2 2025 | 359 | $610.9M | SGOV, MSFT, NVDA, META, SCHI |
| Q1 2025 | 273 | $486.5M | SGOV, AAPL, SCHI, MSFT, META |
| Q4 2024 | 247 | $458.3M | SGOV, AAPL, SCHI, MSFT, META |
| Q3 2024 | 231 | $368.0M | AAPL, MSFT, META, NVDA, GOOGL |
| Q2 2024 | 214 | $331.9M | MSFT, AAPL, NVDA, GOOGL, META |
| Q1 2024 | 212 | $304.6M | MSFT, AAPL, GOOGL, META, BRK.B |