Rahlfs Capital, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Rahlfs Capital, LLC reported 76 stock positions worth $99.9 million. Its top holding was Apple (AAPL) at 10.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 7.6%) and Microsoft (MSFT, 5.8%). Compared with Q4 2024, it opened 2 new positions, sold out of 4, added to 8 and reduced 12. The biggest buy was Verizon Communications (VZ, shares +115%) and the biggest sale Apple (AAPL, shares −5%).

Most Recent 13F
Q2 2026
Location
LAKE KIOWA, TX
CIK
0002056410
Portfolio Value
$99.9M (Q1 2025)
SEC Filing
0002056410-25-000003 ↗ filed May 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q4 2024: $100.9M Q4 2024 Q1 2025: $99.9M $99.9M Q1 2025 Q2 2025: $109.2M Q2 2025 Q3 2025: $126.4M Q3 2025 Q4 2025: $128.8M Q4 2025 Q1 2026: $136.1M Q1 2026 Q2 2026: $136.2M Q2 2026

Holdings 76 stocks · $99.9M
AAPL Apple Inc. 10.57% 47,500 $10.6M Reduce -5.0%
BRK.B Berkshire Hathaway Inc. Class B 7.58% 14,212 $7.6M No change
MSFT Microsoft Corp. 5.77% 15,340 $5.8M No change
WMT Walmart Inc. 5.28% 60,069 $5.3M Reduce -1.6%
XOM Exxon Mobil Corp. 4.58% 38,465 $4.6M No change
MCD McDonald's Corp. 2.90% 9,280 $2.9M No change
GOOGL Alphabet Inc. Class A 2.89% 18,635 $2.9M No change
SO The Southern Co. 2.72% 29,570 $2.7M Reduce -2.4%
NVDA Nvidia Corp. 2.31% 21,270 $2.3M No change
TXN Texas Instruments Inc. 2.21% 12,293 $2.2M Add +1.2%
JEPI JPMorgan Equity Premium Inco 2.15% 37,543 $2.1M No change
GDX Vaneck Gold Miners ETF 2.12% 46,055 $2.1M No change
DUK Duke Energy Corp. 1.88% 15,416 $1.9M Reduce -0.2%
AMZN Amazon.com Inc. 1.84% 9,670 $1.8M Reduce -0.1%
JNJ Johnson & Johnson 1.68% 10,111 $1.7M No change
OEF iShares S&P 100 ETF 1.65% 6,100 $1.7M No change
TKO Tko Group Holdings Inc. 1.61% 10,515 $1.6M No change
PEP Pepsico Inc. 1.58% 10,515 $1.6M No change
ABBV Abbvie Inc. 1.58% 7,512 $1.6M No change
VZ Verizon Communications Inc. 1.44% 31,789 $1.4M Add +115.0%
CVX Chevron Corp. 1.37% 8,154 $1.4M No change
BSM Black Stone Minerals LP 1.29% 84,267 $1.3M No change
BMY Bristol-Myers Squibb Co. 1.28% 20,961 $1.3M No change
ORCL Oracle Corp. 1.27% 9,060 $1.3M Reduce -7.2%
NEM Newmont Corp. 1.26% 26,110 $1.3M Add +59.5%
PM Philip Morris International 1.24% 7,829 $1.2M No change
ABT Abbott Laboratories 1.23% 9,258 $1.2M No change
EOG EOG Resources Inc. 1.16% 9,040 $1.2M No change
EBAY eBay Inc. 1.14% 16,810 $1.1M No change
ULTA Ulta Beauty Inc. 1.07% 2,925 $1.1M Reduce -47.1%
EWS iShares MSCI Singapore ETF 1.07% 45,095 $1.1M No change
EWJ iShares MSCI Japan ETF 1.01% 14,760 $1.0M No change
SLV iShares Silver Trust 1.01% 32,600 $1.0M No change
PFE Pfizer Inc. 0.98% 38,453 $974K Reduce -3.8%
ADBE Adobe Inc. 0.97% 2,532 $971K No change
TGT Target Corp. 0.95% 9,080 $948K No change
GPC Genuine Parts Co. 0.85% 7,165 $854K No change
FBTC Fidelity Wise Origin Bitcoin 0.83% 11,540 $831K No change
KO The Coca-Cola Co. 0.81% 11,264 $807K No change
SBR Sabine Royalty Trust 0.80% 11,810 $798K Reduce -0.6%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.75% 2,610 $752K No change
MO Altria Group Inc. 0.73% 12,122 $728K No change
INTC Intel Corp. 0.65% 28,659 $651K No change
PYPL PayPal Holdings Inc. 0.60% 9,136 $596K New
TSLA Tesla Inc. 0.59% 2,265 $587K Add +114.7%
CPNG Coupang Inc. 0.56% 25,350 $556K New
COST Costco Wholesale Corp. 0.51% 540 $511K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.49% 872 $485K Add +2.6%
MRK Merck & Co. Inc. 0.48% 5,325 $478K No change
PG The Procter & Gamble Co. 0.47% 2,755 $470K No change
UBER Uber Technologies Inc. 0.43% 5,879 $428K Add +68.7%
CVS CVS Health Corp. 0.40% 5,930 $402K No change
ADM Archer-Daniels-Midland Co. 0.39% 8,190 $393K Reduce -58.3%
SNY Sanofi-ADR 0.39% 6,975 $387K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.39% 3,900 $385K No change
GS Goldman Sachs Group Inc. 0.38% 700 $382K No change
SHEL Shell PLC-ADR 0.38% 5,110 $374K No change
ILF iShares Latin America 40 ETF 0.36% 15,250 $359K No change
GBTC Grayscale Bitcoin Trust ETF 0.35% 5,844 $353K Add +20.0%
T AT&T Inc. 0.35% 12,252 $346K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.35% 8,300 $346K Reduce -43.3%
KMB Kimberly-Clark Corp. 0.33% 2,350 $334K No change
FXI iShares China Large-Cap ETF 0.32% 9,030 $324K No change
FTSM First Trust Enh Short Mat FD 0.30% 5,076 $304K No change
JD Jd.com Inc.-ADR 0.30% 7,350 $302K No change
SBSI Southside Bancshares Inc. 0.30% 10,423 $302K No change
MXF Mexico Fund Inc. 0.30% 20,875 $297K No change
CSCO Cisco Systems Inc. 0.29% 4,625 $285K No change
XYZ Block Inc. 0.28% 5,108 $278K Add +6.2%
AMGN Amgen Inc. 0.26% 840 $262K No change
LUV Southwest Airlines Co. 0.25% 7,429 $249K No change
OXY Occidental Petroleum Corp. 0.25% 5,000 $247K No change
EWT iShares MSCI Taiwan ETF 0.24% 5,075 $241K Reduce -2.6%
IWS iShares Russell Mid-Cap Valu 0.23% 1,850 $233K No change
STEL Stellar Bancorp Inc. 0.21% 7,581 $210K No change
JPM JPMorgan Chase & Co. 0.21% 838 $206K No change

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -5.0% 10.57% −1.84
ULTA Ulta Beauty Inc. Reduce -47.1% 1.07% −1.31
FWONK Liberty Media Corp. Class C Sold out 0.00% −0.81
ADM Archer-Daniels-Midland Co. Reduce -58.3% 0.39% −0.59
ORCL Oracle Corp. Reduce -7.2% 1.27% −0.34
BAC Bank of America Corp. Reduce -43.3% 0.35% −0.29
AMZN Amazon.com Inc. Reduce -0.1% 1.84% −0.26
NOW ServiceNow Inc. Sold out 0.00% −0.25
UPS United Parcel Service Class B Sold out 0.00% −0.23
WMT Walmart Inc. Reduce -1.6% 5.28% −0.18
PFE Pfizer Inc. Reduce -3.8% 0.98% −0.07
SJT San Juan Basin Royalty TR Sold out 0.00% −0.04
EWT iShares MSCI Taiwan ETF Reduce -2.6% 0.24% −0.03
SBR Sabine Royalty Trust Reduce -0.6% 0.80% +0.04
DUK Duke Energy Corp. Reduce -0.2% 1.88% +0.23
SO The Southern Co. Reduce -2.4% 2.72% +0.25

Portfolio Buys Q4 2024 → Q1 2025
VZ Verizon Communications Inc. Add +115.0% 1.44% +0.86
NEM Newmont Corp. Add +59.5% 1.26% +0.66
PYPL PayPal Holdings Inc. New 0.60% +0.60
CPNG Coupang Inc. New 0.56% +0.56
UBER Uber Technologies Inc. Add +68.7% 0.43% +0.22
TSLA Tesla Inc. Add +114.7% 0.59% +0.17
GBTC Grayscale Bitcoin Trust ETF Add +20.0% 0.35% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +2.6% 0.49% −0.01
TXN Texas Instruments Inc. Add +1.2% 2.21% −0.04
XYZ Block Inc. Add +6.2% 0.28% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 86$136.2MAAPL, JPST, BRK.B, GOOGL, WMT
Q1 2026 86$136.1MJPST, AAPL, BRK.B, XOM, WMT
Q4 2025 84$128.8MJPST, AAPL, BRK.B, MSFT, GOOGL
Q3 2025 88$126.4MAAPL, MSFT, BRK.B, JPST, WMT
Q2 2025 89$109.2MAAPL, MSFT, BRK.B, WMT, XOM
Q1 2025 76$99.9MAAPL, BRK.B, MSFT, WMT, XOM
Q4 2024Amended 78$100.9MAAPL, MSFT, BRK.B, WMT, XOM