L2 Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), L2 Asset Management, LLC reported 359 stock positions worth $610.9 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 3.7% of the portfolio, followed by Microsoft (MSFT, 3.0%) and Nvidia (NVDA, 2.7%). Compared with Q1 2025, it opened 91 new positions, sold out of 5, added to 218 and reduced 48. The biggest buy was Capital One Financial (COF, shares +2013%) and the biggest sale an exit from Discover Financial Services (DFS).
- Most Recent 13F
- Q2 2026
- Location
- Wayland, MA
- CIK
- 0001686988
- Portfolio Value
- $610.9M (Q2 2025)
- SEC Filing
- 0000919574-25-004698 ↗ filed Aug 14, 2025
Holdings Value
Holdings 359 stocks · $610.9M
| SGOV iShares 0-3 Month Treasury B | 3.71% | 225,280 | $22.7M | Add +11.1% |
| MSFT Microsoft Corp. | 2.96% | 36,298 | $18.1M | Add +4.4% |
| NVDA Nvidia Corp. | 2.72% | 105,059 | $16.6M | Add +4.8% |
| META Meta Platforms Inc. Class A | 2.49% | 20,569 | $15.2M | Reduce -2.5% |
| SCHI Schwab 5-10 Year Corporate B | 2.43% | 651,801 | $14.8M | Add +2.6% |
| AAPL Apple Inc. | 2.34% | 69,746 | $14.3M | Add +5.6% |
| MTBA Simplify MBS ETF | 1.76% | 215,050 | $10.8M | Add +12.2% |
| JAAA Janus Henderson Aaa Clo ETF | 1.74% | 209,229 | $10.6M | Add +11.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.55% | 32,109 | $9.5M | Reduce -11.3% |
| JPM JPMorgan Chase & Co. | 1.46% | 30,731 | $8.9M | Reduce -0.3% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.46% | 181,358 | $8.9M | Add +0.4% |
| CPAY Corpay Inc. | 1.28% | 23,588 | $7.8M | Add +14.8% |
| RL Ralph Lauren Corp. | 1.27% | 28,350 | $7.8M | Add +2.1% |
| FLEX Flex Ltd. | 1.18% | 144,865 | $7.2M | Add +16.2% |
| JBL Jabil Inc. | 1.18% | 32,961 | $7.2M | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 1.17% | 103,244 | $7.2M | Add +65.1% |
| COF Capital One Financial Corp. | 1.15% | 33,061 | $7.0M | Add +2012.5% |
| LOGI Logitech International-Reg | 1.14% | 77,559 | $7.0M | Add +3.2% |
| AMP Ameriprise Financial Inc. | 1.13% | 12,920 | $6.9M | Add +10.6% |
| NTAP Netapp Inc. | 1.06% | 60,804 | $6.5M | Reduce -10.3% |
| SYF Synchrony Financial | 1.05% | 95,863 | $6.4M | Reduce -18.2% |
| WFC Wells Fargo & Co. | 1.05% | 79,691 | $6.4M | Add +10.1% |
| SCHX Schwab US Large-Cap ETF | 1.03% | 257,571 | $6.3M | Add +87.1% |
| GILD Gilead Sciences Inc. | 1.03% | 56,516 | $6.3M | Add +102.4% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 1.01% | 67,383 | $6.2M | Add +82.7% |
| EXPE Expedia Group Inc. | 1.01% | 36,590 | $6.2M | Reduce -8.6% |
| GOOGL Alphabet Inc. Class A | 0.99% | 34,390 | $6.1M | Add +3.4% |
| EBAY eBay Inc. | 0.98% | 80,388 | $6.0M | Reduce -8.3% |
| QCOM Qualcomm Inc. | 0.98% | 37,544 | $6.0M | Reduce -6.6% |
| FOXA Fox Corp. Class A | 0.94% | 102,356 | $5.7M | Add +53.6% |
| CRBG Corebridge Financial Inc. | 0.94% | 161,142 | $5.7M | Add +32.4% |
| AVGO Broadcom Inc. | 0.93% | 20,674 | $5.7M | Add +4.8% |
| MPC Marathon Petroleum Corp. | 0.86% | 31,633 | $5.3M | Reduce -9.1% |
| DELL Dell Technologies -C | 0.83% | 41,279 | $5.1M | Reduce -18.6% |
| CAH Cardinal Health Inc. | 0.83% | 30,088 | $5.1M | Reduce -27.2% |
| SCHQ Schwab Long-Term US Treasury | 0.82% | 157,688 | $5.0M | Add +7.8% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.82% | 76,806 | $5.0M | Add +4.8% |
| SCYB Schwab High Yield Bond ETF | 0.82% | 188,111 | $5.0M | Add +5.5% |
| AVUV Avantis US Small Cap Value | 0.79% | 53,169 | $4.8M | Add +127.9% |
| QPFF American Century Qual Pref | 0.78% | 134,294 | $4.7M | Add +5.9% |
| EFV iShares MSCI Eafe Value ETF | 0.77% | 74,489 | $4.7M | Add +75.1% |
| PYPL PayPal Holdings Inc. | 0.77% | 63,469 | $4.7M | Add +37.4% |
| PFXF Vaneck Pref Sec X-Financials | 0.75% | 267,021 | $4.6M | Add +1.3% |
| SCHG Schwab US Large-Cap Growth | 0.72% | 151,459 | $4.4M | Add +173.2% |
| DKS Dick's Sporting Goods Inc. | 0.72% | 22,177 | $4.4M | Reduce -31.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.71% | 8,965 | $4.4M | Reduce -18.4% |
| DVA Davita Inc. | 0.69% | 29,528 | $4.2M | Add +742.2% |
| OMC Omnicom Group | 0.69% | 58,166 | $4.2M | Reduce -12.2% |
| AXP American Express Co. | 0.66% | 12,706 | $4.1M | Reduce -29.5% |
| TSLA Tesla Inc. | 0.65% | 12,550 | $4.0M | Add +4.0% |
| ZM Zoom Communications Inc. | 0.64% | 50,167 | $3.9M | Add +109.7% |
| ABNB Airbnb Inc. Class A | 0.63% | 28,968 | $3.8M | Add +182.7% |
| ABBV Abbvie Inc. | 0.62% | 20,328 | $3.8M | Add +12.7% |
| GOOG Alphabet Inc. Class C | 0.61% | 21,033 | $3.7M | Add +3.1% |
| VOO Vanguard S&P 500 ETF | 0.59% | 6,345 | $3.6M | New |
| APP AppLovin Corp. Class A | 0.58% | 10,178 | $3.6M | Reduce -52.2% |
| WSM Williams-Sonoma Inc. | 0.57% | 21,384 | $3.5M | Reduce -40.2% |
| OC Owens Corning | 0.54% | 24,136 | $3.3M | Reduce -6.6% |
| LYV Live Nation Entertainment Inc. | 0.51% | 20,549 | $3.1M | Add +224.9% |
| BBY Best Buy Co. Inc. | 0.51% | 46,287 | $3.1M | Add +16.5% |
| BURL Burlington Stores Inc. | 0.48% | 12,720 | $3.0M | Reduce -19.4% |
| AMGN Amgen Inc. | 0.45% | 9,837 | $2.7M | Add +50.8% |
| V Visa Inc. Class A | 0.45% | 7,700 | $2.7M | Add +6.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.44% | 56,565 | $2.7M | Reduce -0.2% |
| SCHF Schwab Intl Equity ETF | 0.44% | 120,593 | $2.7M | Add +333.5% |
| TPR Tapestry Inc. | 0.43% | 30,205 | $2.7M | New |
| CHKP Check Point Software Tech | 0.43% | 11,855 | $2.6M | Reduce -26.8% |
| UTHR United Therapeutics Corp. | 0.42% | 8,945 | $2.6M | Reduce -35.6% |
| ALV Autoliv Inc. | 0.42% | 22,850 | $2.6M | Reduce -12.3% |
| NFLX Netflix Inc. | 0.42% | 1,900 | $2.5M | Add +4.2% |
| LVS Las Vegas Sands Corp. | 0.40% | 56,128 | $2.4M | Add +42.8% |
| NXPI NXP Semiconductors NV | 0.37% | 10,376 | $2.3M | Reduce -7.8% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.37% | 75,184 | $2.3M | Add +80.3% |
| CSL Carlisle Cos Inc. | 0.35% | 5,800 | $2.2M | Add +24.8% |
| XOM Exxon Mobil Corp. | 0.34% | 19,367 | $2.1M | Add +3.1% |
| COKE Coca-Cola Consolidated Inc. | 0.34% | 18,503 | $2.1M | Reduce -38.5% |
| MA Mastercard Inc. Class A | 0.33% | 3,639 | $2.0M | Add +5.0% |
| COST Costco Wholesale Corp. | 0.32% | 1,994 | $2.0M | Add +5.3% |
| LRCX Lam Research Corp. | 0.32% | 20,129 | $2.0M | New |
| WMT Walmart Inc. | 0.31% | 19,284 | $1.9M | Reduce -6.2% |
| PG The Procter & Gamble Co. | 0.30% | 11,471 | $1.8M | Reduce -2.6% |
| GEN Gen Digital Inc. | 0.30% | 61,472 | $1.8M | Add +8.5% |
| ORCL Oracle Corp. | 0.29% | 8,240 | $1.8M | Reduce -1.0% |
| HAL Halliburton Co. | 0.28% | 83,759 | $1.7M | Add +93.2% |
| EUSA iShares MSCI USA Equal Weigh | 0.28% | 16,990 | $1.7M | Add +124.2% |
| HOLX Hologic Inc. | 0.27% | 25,551 | $1.7M | Reduce -58.9% |
| XP XP Inc. Class A | 0.27% | 81,491 | $1.6M | Add +14.8% |
| HD Home Depot Inc. | 0.27% | 4,461 | $1.6M | Add +4.3% |
| LULU Lululemon Athletica Inc. | 0.27% | 6,873 | $1.6M | New |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.27% | 40,152 | $1.6M | New |
| RSP Invesco S&P 500 Equal Weight | 0.25% | 8,561 | $1.6M | New |
| AKAM Akamai Technologies Inc. | 0.25% | 19,439 | $1.6M | Reduce -44.9% |
| IVV iShares Core S&P 500 ETF | 0.24% | 2,361 | $1.5M | New |
| VCSH Vanguard S/T Corp. Bond ETF | 0.23% | 17,657 | $1.4M | New |
| EOG EOG Resources Inc. | 0.22% | 11,415 | $1.4M | Add +374.0% |
| PLTR Palantir Technologies Inc. Class A | 0.22% | 9,934 | $1.4M | Add +9.2% |
| MUB iShares National Muni Bond E | 0.21% | 12,400 | $1.3M | New |
| CAT Caterpillar Inc. | 0.20% | 3,209 | $1.2M | Reduce -19.3% |
| AMAT Applied Materials Inc. | 0.20% | 6,766 | $1.2M | Reduce -15.4% |
| TLN Talen Energy Corp. | 0.20% | 4,144 | $1.2M | New |
Options reported separately and not counted above: SPY puts ($212K), IWM puts ($66K).
Portfolio Sells Q1 2025 → Q2 2025
| DFS Discover Financial Services | Sold out | 0.00% | −1.13 |
| COR Cencora Inc. | Reduce -95.0% | 0.04% | −0.92 |
| DKS Dick's Sporting Goods Inc. | Reduce -31.5% | 0.72% | −0.62 |
| WSM Williams-Sonoma Inc. | Reduce -40.2% | 0.57% | −0.59 |
| APP AppLovin Corp. Class A | Reduce -52.2% | 0.58% | −0.58 |
| HOLX Hologic Inc. | Reduce -58.9% | 0.27% | −0.52 |
| COKE Coca-Cola Consolidated Inc. | Reduce -38.5% | 0.34% | −0.50 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -18.4% | 0.71% | −0.49 |
| UTHR United Therapeutics Corp. | Reduce -35.6% | 0.42% | −0.46 |
| OMC Omnicom Group | Reduce -12.2% | 0.69% | −0.44 |
| EXPE Expedia Group Inc. | Reduce -8.6% | 1.01% | −0.37 |
| CAH Cardinal Health Inc. | Reduce -27.2% | 0.83% | −0.34 |
| AXP American Express Co. | Reduce -29.5% | 0.66% | −0.33 |
| AKAM Akamai Technologies Inc. | Reduce -44.9% | 0.25% | −0.33 |
| CHKP Check Point Software Tech | Reduce -26.8% | 0.43% | −0.33 |
| IBM Intl Business Machines Corp. | Reduce -11.3% | 1.55% | −0.30 |
| QCOM Qualcomm Inc. | Reduce -6.6% | 0.98% | −0.29 |
| BURL Burlington Stores Inc. | Reduce -19.4% | 0.48% | −0.29 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.29 |
| STLA Stellantis NV | Reduce -57.7% | 0.11% | −0.26 |
| EBAY eBay Inc. | Reduce -8.3% | 0.98% | −0.24 |
| SYF Synchrony Financial | Reduce -18.2% | 1.05% | −0.23 |
| OC Owens Corning | Reduce -6.6% | 0.54% | −0.22 |
| BMY Bristol-Myers Squibb Co. | Reduce -55.8% | 0.07% | −0.19 |
| MPC Marathon Petroleum Corp. | Reduce -9.1% | 0.86% | −0.18 |
| SWKS Skyworks Solutions Inc. | Reduce -61.7% | 0.10% | −0.18 |
| NTAP Netapp Inc. | Reduce -10.3% | 1.06% | −0.16 |
| DELL Dell Technologies -C | Reduce -18.6% | 0.83% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -2.6% | 0.30% | −0.11 |
| EA Electronic Arts Inc. | Reduce -30.4% | 0.18% | −0.11 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 1.46% | −0.09 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.09 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.09 |
| NKE Nike Inc. Class B | Reduce -45.9% | 0.08% | −0.08 |
| NXPI NXP Semiconductors NV | Reduce -7.8% | 0.37% | −0.07 |
| CAT Caterpillar Inc. | Reduce -19.3% | 0.20% | −0.07 |
| WMT Walmart Inc. | Reduce -6.2% | 0.31% | −0.06 |
| ALV Autoliv Inc. | Reduce -12.3% | 0.42% | −0.06 |
| TGNA Tegna Inc. | Reduce -38.0% | 0.04% | −0.05 |
| BAC Bank of America Corp. | Reduce -0.2% | 0.44% | −0.05 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.04 |
| TDC Teradata Corp. | Reduce -12.9% | 0.09% | −0.04 |
| AMAT Applied Materials Inc. | Reduce -15.4% | 0.20% | −0.04 |
| BRKR Bruker Corp. | Reduce -14.1% | 0.06% | −0.03 |
| WMS Advanced Drainage Systems Inc. | Reduce -16.7% | 0.05% | −0.02 |
| QLYS Qualys Inc. | Reduce -20.2% | 0.05% | −0.02 |
| META Meta Platforms Inc. Class A | Reduce -2.5% | 2.49% | −0.01 |
| AIG American International Group | Reduce -1.6% | 0.04% | −0.01 |
| PCAR Paccar Inc. | Reduce -0.4% | 0.04% | −0.01 |
| STT State Street Corp. | Reduce -2.2% | 0.07% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| COF Capital One Financial Corp. | Add +2012.5% | 1.15% | +1.09 |
| VOO Vanguard S&P 500 ETF | New | 0.59% | +0.59 |
| DVA Davita Inc. | Add +742.2% | 0.69% | +0.58 |
| NVDA Nvidia Corp. | Add +4.8% | 2.72% | +0.48 |
| SCHG Schwab US Large-Cap Growth | Add +173.2% | 0.72% | +0.44 |
| TPR Tapestry Inc. | New | 0.43% | +0.43 |
| CF CF Industries Holdings Inc. | Add +82.7% | 1.01% | +0.42 |
| SCHX Schwab US Large-Cap ETF | Add +87.1% | 1.03% | +0.41 |
| GILD Gilead Sciences Inc. | Add +102.4% | 1.03% | +0.38 |
| CSCO Cisco Systems Inc. | Add +65.1% | 1.17% | +0.38 |
| ABNB Airbnb Inc. Class A | Add +182.7% | 0.63% | +0.38 |
| AVUV Avantis US Small Cap Value | Add +127.9% | 0.79% | +0.38 |
| LYV Live Nation Entertainment Inc. | Add +224.9% | 0.51% | +0.34 |
| FLEX Flex Ltd. | Add +16.2% | 1.18% | +0.34 |
| SCHF Schwab Intl Equity ETF | Add +333.5% | 0.44% | +0.32 |
| LRCX Lam Research Corp. | New | 0.32% | +0.32 |
| ZM Zoom Communications Inc. | Add +109.7% | 0.64% | +0.28 |
| MSFT Microsoft Corp. | Add +4.4% | 2.96% | +0.27 |
| LULU Lululemon Athletica Inc. | New | 0.27% | +0.27 |
| SPDW Ste STR SPDR PT DW Eu ETF | New | 0.27% | +0.27 |
| EFV iShares MSCI Eafe Value ETF | Add +75.1% | 0.77% | +0.26 |
| RSP Invesco S&P 500 Equal Weight | New | 0.25% | +0.25 |
| AVGO Broadcom Inc. | Add +4.8% | 0.93% | +0.25 |
| IVV iShares Core S&P 500 ETF | New | 0.24% | +0.24 |
| VCSH Vanguard S/T Corp. Bond ETF | New | 0.23% | +0.23 |
| MUB iShares National Muni Bond E | New | 0.21% | +0.21 |
| TLN Talen Energy Corp. | New | 0.20% | +0.20 |
| DIVO Amplify CWP Enhan Divid ETF | New | 0.19% | +0.19 |
| DOCU Docusign Inc. | New | 0.17% | +0.17 |
| FOXA Fox Corp. Class A | Add +53.6% | 0.94% | +0.16 |
| EOG EOG Resources Inc. | Add +374.0% | 0.22% | +0.16 |
| SCHC Schwab Intl Small-Cap Equity | New | 0.16% | +0.16 |
| PYPL PayPal Holdings Inc. | Add +37.4% | 0.77% | +0.15 |
| VNQI Vanguard GLBL Ex-US Real Est | New | 0.15% | +0.15 |
| CTA Simplify Managed Futures St | New | 0.15% | +0.15 |
| SUB iShares Short-Term National | New | 0.15% | +0.15 |
| CRBG Corebridge Financial Inc. | Add +32.4% | 0.94% | +0.15 |
| DLTR Dollar Tree Inc. | New | 0.14% | +0.14 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | New | 0.14% | +0.14 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +80.3% | 0.37% | +0.13 |
| EUSA iShares MSCI USA Equal Weigh | Add +124.2% | 0.28% | +0.13 |
| SHYG iShares 0-5 YR HY Corp. Bond | New | 0.12% | +0.12 |
| SLB SLB Ltd. | Add +401.5% | 0.17% | +0.11 |
| MANH Manhattan Associates Inc. | New | 0.11% | +0.11 |
| BLK BlackRock Inc. | New | 0.11% | +0.11 |
| PDBC Invesco Optimum Yield Divers | New | 0.11% | +0.11 |
| EQH Equitable Holdings Inc. | New | 0.10% | +0.10 |
| CTRA Coterra Energy Inc. | New | 0.10% | +0.10 |
| IBKR Interactive Brokers Gro Class A | New | 0.10% | +0.10 |
| VGSH Vanguard Short-Term Treasury | New | 0.10% | +0.10 |
Options Activity Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +163.8% | 142,200 | $212K |
| IWM iShares Russell 2000 ETF | put | Add +30170.3% | 112,000 | $66K |
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 |