L2 Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), L2 Asset Management, LLC reported 363 stock positions worth $691.1 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 3.5% of the portfolio, followed by Nvidia (NVDA, 3.0%) and Microsoft (MSFT, 2.6%). Compared with Q2 2025, it opened 44 new positions, sold out of 40, added to 254 and reduced 62. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +195%) and the biggest sale Capital One Financial (COF, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- Wayland, MA
- CIK
- 0001686988
- Portfolio Value
- $691.1M (Q3 2025)
- SEC Filing
- 0000919574-25-006797 ↗ filed Nov 14, 2025
Holdings Value
Holdings 363 stocks · $691.1M
| SGOV iShares 0-3 Month Treasury B | 3.49% | 239,466 | $24.1M | Add +6.3% |
| NVDA Nvidia Corp. | 2.98% | 110,395 | $20.6M | Add +5.1% |
| MSFT Microsoft Corp. | 2.64% | 35,218 | $18.2M | Reduce -3.0% |
| AAPL Apple Inc. | 2.55% | 69,089 | $17.6M | Reduce -0.9% |
| SCHI Schwab 5-10 Year Corporate B | 2.17% | 651,093 | $15.0M | Reduce -0.1% |
| META Meta Platforms Inc. Class A | 2.15% | 20,229 | $14.9M | Reduce -1.6% |
| MTBA Simplify MBS ETF | 1.93% | 265,442 | $13.4M | Add +23.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.93% | 26,474 | $13.3M | Add +195.3% |
| JAAA Janus Henderson Aaa Clo ETF | 1.83% | 249,314 | $12.7M | Add +19.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.77% | 244,144 | $12.2M | Add +34.6% |
| SCHX Schwab US Large-Cap ETF | 1.49% | 391,390 | $10.3M | Add +52.0% |
| JPM JPMorgan Chase & Co. | 1.29% | 28,307 | $8.9M | Reduce -7.9% |
| NTAP Netapp Inc. | 1.29% | 75,099 | $8.9M | Add +23.5% |
| LOGI Logitech International-Reg | 1.26% | 79,305 | $8.7M | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 1.25% | 35,492 | $8.6M | Add +3.2% |
| CSCO Cisco Systems Inc. | 1.14% | 114,730 | $7.8M | Add +11.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.13% | 27,731 | $7.8M | Reduce -13.6% |
| EXPE Expedia Group Inc. | 1.12% | 36,079 | $7.7M | Reduce -1.4% |
| QCOM Qualcomm Inc. | 1.11% | 45,946 | $7.6M | Add +22.4% |
| APP AppLovin Corp. Class A | 1.11% | 10,628 | $7.6M | Add +4.4% |
| EFV iShares MSCI Eafe Value ETF | 1.10% | 112,112 | $7.6M | Add +50.5% |
| FLEX Flex Ltd. | 1.05% | 125,487 | $7.3M | Reduce -13.4% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 1.05% | 80,993 | $7.3M | Add +20.2% |
| SCHG Schwab US Large-Cap Growth | 1.05% | 227,186 | $7.2M | Add +50.0% |
| AVGO Broadcom Inc. | 1.04% | 21,703 | $7.2M | Add +5.0% |
| CPAY Corpay Inc. | 1.00% | 23,927 | $6.9M | Add +1.4% |
| SYF Synchrony Financial | 0.98% | 95,069 | $6.8M | Reduce -0.8% |
| AVUV Avantis US Small Cap Value | 0.98% | 67,742 | $6.7M | Add +27.4% |
| GILD Gilead Sciences Inc. | 0.98% | 60,720 | $6.7M | Add +7.4% |
| FOXA Fox Corp. Class A | 0.96% | 104,764 | $6.6M | Add +2.4% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.94% | 97,135 | $6.5M | Add +26.5% |
| CAH Cardinal Health Inc. | 0.88% | 38,913 | $6.1M | Add +29.3% |
| AMP Ameriprise Financial Inc. | 0.88% | 12,426 | $6.1M | Reduce -3.8% |
| EBAY eBay Inc. | 0.88% | 66,558 | $6.1M | Reduce -17.2% |
| JBL Jabil Inc. | 0.87% | 27,666 | $6.0M | Reduce -16.1% |
| UTHR United Therapeutics Corp. | 0.87% | 14,323 | $6.0M | Add +60.1% |
| SCYB Schwab High Yield Bond ETF | 0.86% | 222,164 | $5.9M | Add +18.1% |
| TSLA Tesla Inc. | 0.85% | 13,232 | $5.9M | Add +5.4% |
| RL Ralph Lauren Corp. | 0.84% | 18,466 | $5.8M | Reduce -34.9% |
| LYV Live Nation Entertainment Inc. | 0.83% | 35,019 | $5.7M | Add +70.4% |
| ZM Zoom Communications Inc. | 0.79% | 66,034 | $5.4M | Add +31.6% |
| GOOG Alphabet Inc. Class C | 0.77% | 21,905 | $5.3M | Add +4.2% |
| SCHQ Schwab Long-Term US Treasury | 0.73% | 157,164 | $5.1M | Reduce -0.3% |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | 0.72% | 261,442 | $5.0M | New |
| PFLD Aam Low Dur Pref & Inc. Sec | 0.71% | 249,319 | $4.9M | New |
| WFC Wells Fargo & Co. | 0.67% | 55,347 | $4.6M | Reduce -30.6% |
| DELL Dell Technologies -C | 0.67% | 32,637 | $4.6M | Reduce -20.9% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.63% | 129,759 | $4.3M | Add +72.6% |
| PYPL PayPal Holdings Inc. | 0.62% | 63,760 | $4.3M | Add +0.5% |
| TPR Tapestry Inc. | 0.58% | 35,614 | $4.0M | Add +17.9% |
| COKE Coca-Cola Consolidated Inc. | 0.55% | 32,446 | $3.8M | Add +75.4% |
| DVA Davita Inc. | 0.55% | 28,368 | $3.8M | Reduce -3.9% |
| SCHF Schwab Intl Equity ETF | 0.53% | 158,038 | $3.7M | Add +31.1% |
| ABBV Abbvie Inc. | 0.53% | 15,719 | $3.6M | Reduce -22.7% |
| CHKP Check Point Software Tech | 0.52% | 17,499 | $3.6M | Add +47.6% |
| CRBG Corebridge Financial Inc. | 0.52% | 111,080 | $3.6M | Reduce -31.1% |
| EXEL Exelixis Inc. | 0.49% | 81,458 | $3.4M | New |
| RPRX Royalty Pharma PLC Class A | 0.47% | 92,215 | $3.3M | Add +1264.9% |
| BBY Best Buy Co. Inc. | 0.47% | 43,000 | $3.3M | Reduce -7.1% |
| MPC Marathon Petroleum Corp. | 0.47% | 16,808 | $3.2M | Reduce -46.9% |
| DKS Dick's Sporting Goods Inc. | 0.46% | 14,242 | $3.2M | Reduce -35.8% |
| AMGN Amgen Inc. | 0.44% | 10,881 | $3.1M | Add +10.6% |
| AKAM Akamai Technologies Inc. | 0.44% | 40,392 | $3.1M | Add +107.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 57,029 | $2.9M | Add +0.8% |
| OMC Omnicom Group | 0.42% | 35,876 | $2.9M | Reduce -38.3% |
| AXP American Express Co. | 0.41% | 8,512 | $2.8M | Reduce -33.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.40% | 81,361 | $2.8M | Add +172.2% |
| ABNB Airbnb Inc. Class A | 0.40% | 22,878 | $2.8M | Reduce -21.0% |
| V Visa Inc. Class A | 0.40% | 8,111 | $2.8M | Add +5.3% |
| NXPI NXP Semiconductors NV | 0.40% | 12,089 | $2.8M | Add +16.5% |
| DLTR Dollar Tree Inc. | 0.38% | 27,593 | $2.6M | Add +210.5% |
| EUSA iShares MSCI USA Equal Weigh | 0.37% | 25,109 | $2.6M | Add +47.8% |
| ORCL Oracle Corp. | 0.37% | 9,002 | $2.5M | Add +9.3% |
| NFLX Netflix Inc. | 0.34% | 1,986 | $2.4M | Add +4.5% |
| LVS Las Vegas Sands Corp. | 0.34% | 44,238 | $2.4M | Reduce -21.2% |
| LRCX Lam Research Corp. | 0.34% | 17,390 | $2.3M | Reduce -13.6% |
| XOM Exxon Mobil Corp. | 0.33% | 20,285 | $2.3M | Add +4.7% |
| OC Owens Corning | 0.32% | 15,801 | $2.2M | Reduce -34.5% |
| MA Mastercard Inc. Class A | 0.32% | 3,906 | $2.2M | Add +7.3% |
| EOG EOG Resources Inc. | 0.31% | 19,355 | $2.2M | Add +69.6% |
| WMT Walmart Inc. | 0.31% | 20,616 | $2.1M | Add +6.9% |
| WSM Williams-Sonoma Inc. | 0.30% | 10,763 | $2.1M | Reduce -49.7% |
| EQH Equitable Holdings Inc. | 0.30% | 41,101 | $2.1M | Add +261.0% |
| TLN Talen Energy Corp. | 0.29% | 4,727 | $2.0M | Add +14.1% |
| NRG NRG Energy Inc. | 0.29% | 12,278 | $2.0M | New |
| COST Costco Wholesale Corp. | 0.28% | 2,126 | $2.0M | Add +6.6% |
| LNG Cheniere Energy Inc. | 0.28% | 8,294 | $1.9M | Add +754.2% |
| HAL Halliburton Co. | 0.28% | 78,794 | $1.9M | Reduce -5.9% |
| HD Home Depot Inc. | 0.28% | 4,759 | $1.9M | Add +6.7% |
| GEN Gen Digital Inc. | 0.28% | 67,871 | $1.9M | Add +10.4% |
| PG The Procter & Gamble Co. | 0.27% | 12,344 | $1.9M | Add +7.6% |
| KMB Kimberly-Clark Corp. | 0.27% | 15,060 | $1.9M | Add +141.8% |
| SWKS Skyworks Solutions Inc. | 0.27% | 24,288 | $1.9M | Add +208.6% |
| PLTR Palantir Technologies Inc. Class A | 0.27% | 10,247 | $1.9M | Add +3.1% |
| HOLX Hologic Inc. | 0.27% | 27,212 | $1.8M | Add +6.5% |
| AU Anglogold Ashanti PLC | 0.25% | 24,218 | $1.7M | New |
| CAT Caterpillar Inc. | 0.22% | 3,209 | $1.5M | No change |
| MYCI State Street MY2029 Corporat | 0.22% | 59,877 | $1.5M | New |
| MYCJ State Street MY2030 Corporat | 0.22% | 59,879 | $1.5M | New |
| MYCH State Street MY2028 Corporat | 0.22% | 59,712 | $1.5M | New |
Portfolio Sells Q2 2025 → Q3 2025
| COF Capital One Financial Corp. | Reduce -91.0% | 0.09% | −1.06 |
| QPFF American Century Qual Pref | Sold out | 0.00% | −0.78 |
| PFXF Vaneck Pref Sec X-Financials | Sold out | 0.00% | −0.75 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −0.59 |
| RL Ralph Lauren Corp. | Reduce -34.9% | 0.84% | −0.43 |
| CRBG Corebridge Financial Inc. | Reduce -31.1% | 0.52% | −0.42 |
| ALV Autoliv Inc. | Sold out | 0.00% | −0.42 |
| IBM Intl Business Machines Corp. | Reduce -13.6% | 1.13% | −0.42 |
| MPC Marathon Petroleum Corp. | Reduce -46.9% | 0.47% | −0.39 |
| BURL Burlington Stores Inc. | Reduce -76.8% | 0.11% | −0.38 |
| WFC Wells Fargo & Co. | Reduce -30.6% | 0.67% | −0.37 |
| META Meta Platforms Inc. Class A | Reduce -1.6% | 2.15% | −0.34 |
| MSFT Microsoft Corp. | Reduce -3.0% | 2.64% | −0.32 |
| JBL Jabil Inc. | Reduce -16.1% | 0.87% | −0.31 |
| XP XP Inc. Class A | Sold out | 0.00% | −0.27 |
| WSM Williams-Sonoma Inc. | Reduce -49.7% | 0.30% | −0.27 |
| SPDW Ste STR SPDR PT DW Eu ETF | Sold out | 0.00% | −0.27 |
| OMC Omnicom Group | Reduce -38.3% | 0.42% | −0.26 |
| DKS Dick's Sporting Goods Inc. | Reduce -35.8% | 0.46% | −0.26 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.25 |
| AXP American Express Co. | Reduce -33.0% | 0.41% | −0.25 |
| SCHI Schwab 5-10 Year Corporate B | Reduce -0.1% | 2.17% | −0.25 |
| AMP Ameriprise Financial Inc. | Reduce -3.8% | 0.88% | −0.25 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.24 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.23 |
| ABNB Airbnb Inc. Class A | Reduce -21.0% | 0.40% | −0.23 |
| OC Owens Corning | Reduce -34.5% | 0.32% | −0.22 |
| MUB iShares National Muni Bond E | Sold out | 0.00% | −0.21 |
| DIVO Amplify CWP Enhan Divid ETF | Sold out | 0.00% | −0.19 |
| JPM JPMorgan Chase & Co. | Reduce -7.9% | 1.29% | −0.17 |
| CSL Carlisle Cos Inc. | Reduce -29.8% | 0.19% | −0.16 |
| DELL Dell Technologies -C | Reduce -20.9% | 0.67% | −0.16 |
| SCHC Schwab Intl Small-Cap Equity | Sold out | 0.00% | −0.16 |
| VNQI Vanguard GLBL Ex-US Real Est | Sold out | 0.00% | −0.15 |
| CTA Simplify Managed Futures St | Sold out | 0.00% | −0.15 |
| SUB iShares Short-Term National | Sold out | 0.00% | −0.15 |
| DVA Davita Inc. | Reduce -3.9% | 0.55% | −0.14 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Sold out | 0.00% | −0.14 |
| FLEX Flex Ltd. | Reduce -13.4% | 1.05% | −0.13 |
| SHYG iShares 0-5 YR HY Corp. Bond | Sold out | 0.00% | −0.12 |
| STLA Stellantis NV | Sold out | 0.00% | −0.11 |
| LULU Lululemon Athletica Inc. | Reduce -11.1% | 0.16% | −0.11 |
| PDBC Invesco Optimum Yield Divers | Sold out | 0.00% | −0.11 |
| EBAY eBay Inc. | Reduce -17.2% | 0.88% | −0.10 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.10 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.10 |
| ABBV Abbvie Inc. | Reduce -22.7% | 0.53% | −0.09 |
| SCHQ Schwab Long-Term US Treasury | Reduce -0.3% | 0.73% | −0.09 |
| IEMG iShares Core MSCI Emerging | Sold out | 0.00% | −0.09 |
| AGGH Simplify Aggregate Bond ETF | Sold out | 0.00% | −0.08 |
Portfolio Buys Q2 2025 → Q3 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +195.3% | 1.93% | +1.21 |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | New | 0.72% | +0.72 |
| PFLD Aam Low Dur Pref & Inc. Sec | New | 0.71% | +0.71 |
| APP AppLovin Corp. Class A | Add +4.4% | 1.11% | +0.52 |
| EXEL Exelixis Inc. | New | 0.49% | +0.49 |
| SCHX Schwab US Large-Cap ETF | Add +52.0% | 1.49% | +0.46 |
| UTHR United Therapeutics Corp. | Add +60.1% | 0.87% | +0.45 |
| RPRX Royalty Pharma PLC Class A | Add +1264.9% | 0.47% | +0.43 |
| EFV iShares MSCI Eafe Value ETF | Add +50.5% | 1.10% | +0.33 |
| SCHG Schwab US Large-Cap Growth | Add +50.0% | 1.05% | +0.32 |
| LYV Live Nation Entertainment Inc. | Add +70.4% | 0.83% | +0.32 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +34.6% | 1.77% | +0.31 |
| NRG NRG Energy Inc. | New | 0.29% | +0.29 |
| NVDA Nvidia Corp. | Add +5.1% | 2.98% | +0.26 |
| GOOGL Alphabet Inc. Class A | Add +3.2% | 1.25% | +0.26 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +72.6% | 0.63% | +0.26 |
| AU Anglogold Ashanti PLC | New | 0.25% | +0.25 |
| LNG Cheniere Energy Inc. | Add +754.2% | 0.28% | +0.24 |
| SLB SLB Ltd. | Add +172.2% | 0.40% | +0.24 |
| DLTR Dollar Tree Inc. | Add +210.5% | 0.38% | +0.23 |
| NTAP Netapp Inc. | Add +23.5% | 1.29% | +0.23 |
| MYCI State Street MY2029 Corporat | New | 0.22% | +0.22 |
| MYCJ State Street MY2030 Corporat | New | 0.22% | +0.22 |
| MYCH State Street MY2028 Corporat | New | 0.22% | +0.22 |
| MYCG State Street MY2027 Corporat | New | 0.22% | +0.22 |
| COKE Coca-Cola Consolidated Inc. | Add +75.4% | 0.55% | +0.21 |
| TSLA Tesla Inc. | Add +5.4% | 0.85% | +0.20 |
| EQH Equitable Holdings Inc. | Add +261.0% | 0.30% | +0.20 |
| AKAM Akamai Technologies Inc. | Add +107.8% | 0.44% | +0.19 |
| AVUV Avantis US Small Cap Value | Add +27.4% | 0.98% | +0.18 |
| SWKS Skyworks Solutions Inc. | Add +208.6% | 0.27% | +0.17 |
| MTBA Simplify MBS ETF | Add +23.4% | 1.93% | +0.17 |
| IBTQ iShares Ibonds Dec 2035 TT | New | 0.17% | +0.17 |
| IBTO iShares Ibonds Dec 2033 Tres | New | 0.17% | +0.17 |
| IBTL iShares Ibonds Dec 2031 Term | New | 0.17% | +0.17 |
| GOOG Alphabet Inc. Class C | Add +4.2% | 0.77% | +0.16 |
| TPR Tapestry Inc. | Add +17.9% | 0.58% | +0.15 |
| ZM Zoom Communications Inc. | Add +31.6% | 0.79% | +0.15 |
| KMB Kimberly-Clark Corp. | Add +141.8% | 0.27% | +0.14 |
| CART Maplebear Inc. | New | 0.13% | +0.13 |
| QCOM Qualcomm Inc. | Add +22.4% | 1.11% | +0.13 |
| VWOB Vanguard Emerg MKTS Gov BND | Add +26.5% | 0.94% | +0.12 |
| LOGI Logitech International-Reg | Add +2.3% | 1.26% | +0.11 |
| AVGO Broadcom Inc. | Add +5.0% | 1.04% | +0.10 |
| FNF Fidelity National Financial | Add +128.1% | 0.19% | +0.10 |
| MRK Merck & Co. Inc. | Add +121.8% | 0.19% | +0.10 |
| EUSA iShares MSCI USA Equal Weigh | Add +47.8% | 0.37% | +0.10 |
| SCHF Schwab Intl Equity ETF | Add +31.1% | 0.53% | +0.10 |
| CHKP Check Point Software Tech | Add +47.6% | 0.52% | +0.09 |
| JAAA Janus Henderson Aaa Clo ETF | Add +19.2% | 1.83% | +0.09 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 142,200 | $212Kbefore exit |
| IWM iShares Russell 2000 ETF | put | Sold out | 112,000 | $66Kbefore exit |
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 |