Rahlfs Capital, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Rahlfs Capital, LLC reported 89 stock positions worth $109.2 million. Its top holding was Apple (AAPL) at 7.3% of the portfolio, followed by Microsoft (MSFT, 7.0%) and Berkshire Hathaway Class B (BRK.B, 6.2%). Compared with Q1 2025, it opened 14 new positions, sold out of 1, added to 9 and reduced 28. The biggest buy was a new position in JPMorgan Ultra-Short Income (JPST) and the biggest sale Apple (AAPL, shares −18%).

Most Recent 13F
Q2 2026
Location
LAKE KIOWA, TX
CIK
0002056410
Portfolio Value
$109.2M (Q2 2025)
SEC Filing
0002056410-25-000004 ↗ filed Aug 11, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q4 2024: $100.9M Q4 2024 Q1 2025: $99.9M Q1 2025 Q2 2025: $109.2M $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 89 stocks · $109.2M
AAPL Apple Inc. 7.33% 39,035 $8.0M Reduce -17.8%
MSFT Microsoft Corp. 6.99% 15,340 $7.6M No change
BRK.B Berkshire Hathaway Inc. Class B 6.15% 13,837 $6.7M Reduce -2.6%
WMT Walmart Inc. 4.36% 48,665 $4.8M Reduce -19.0%
XOM Exxon Mobil Corp. 3.74% 37,885 $4.1M Reduce -1.5%
NVDA Nvidia Corp. 3.08% 21,270 $3.4M No change
GOOGL Alphabet Inc. Class A 3.00% 18,605 $3.3M Reduce -0.2%
JEPI JPMorgan Equity Premium Inco 2.50% 47,958 $2.7M Add +27.7%
MCD McDonald's Corp. 2.48% 9,280 $2.7M No change
SO The Southern Co. 2.39% 28,370 $2.6M Reduce -4.1%
TXN Texas Instruments Inc. 2.34% 12,293 $2.6M No change
GDX Vaneck Gold Miners ETF 2.16% 45,255 $2.4M Reduce -1.7%
VZ Verizon Communications Inc. 2.14% 54,134 $2.3M Add +70.3%
AMZN Amazon.com Inc. 1.93% 9,610 $2.1M Reduce -0.6%
JPST JPMorgan Ultra-Short Income 1.89% 40,675 $2.1M New
ORCL Oracle Corp. 1.76% 8,785 $1.9M Reduce -3.0%
TKO Tko Group Holdings Inc. 1.75% 10,515 $1.9M No change
OEF iShares S&P 100 ETF 1.70% 6,100 $1.9M No change
DUK Duke Energy Corp. 1.64% 15,216 $1.8M Reduce -1.3%
NEM Newmont Corp. 1.34% 25,110 $1.5M Reduce -3.8%
JNJ Johnson & Johnson 1.31% 9,400 $1.4M Reduce -7.0%
PM Philip Morris International 1.31% 7,829 $1.4M No change
PEP Pepsico Inc. 1.29% 10,665 $1.4M Add +1.4%
ULTA Ulta Beauty Inc. 1.25% 2,925 $1.4M No change
ABBV Abbvie Inc. 1.19% 7,012 $1.3M Reduce -6.7%
EBAY eBay Inc. 1.15% 16,810 $1.3M No change
ABT Abbott Laboratories 1.09% 8,740 $1.2M Reduce -5.6%
EWS iShares MSCI Singapore ETF 1.07% 45,095 $1.2M No change
CVX Chevron Corp. 1.07% 8,154 $1.2M No change
FBTC Fidelity Wise Origin Bitcoin 1.02% 11,860 $1.1M Add +2.8%
EWJ iShares MSCI Japan ETF 1.01% 14,760 $1.1M No change
BSM Black Stone Minerals LP 1.01% 84,267 $1.1M No change
SLV iShares Silver Trust 0.98% 32,500 $1.1M Reduce -0.3%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.97% 2,610 $1.1M No change
UBER Uber Technologies Inc. 0.92% 10,774 $1.0M Add +83.3%
BMY Bristol-Myers Squibb Co. 0.89% 20,961 $970K No change
PFE Pfizer Inc. 0.87% 39,353 $954K Add +2.3%
TGT Target Corp. 0.82% 9,080 $896K No change
GPC Genuine Parts Co. 0.80% 7,165 $869K No change
FWONK Liberty Media Corp. Class C 0.78% 8,100 $846K New
ADBE Adobe Inc. 0.77% 2,182 $844K Reduce -13.8%
EOG EOG Resources Inc. 0.73% 6,690 $800K Reduce -26.0%
SBR Sabine Royalty Trust 0.73% 11,985 $798K Add +1.5%
CPNG Coupang Inc. 0.70% 25,350 $759K No change
KO The Coca-Cola Co. 0.66% 10,264 $726K Reduce -8.9%
TSLA Tesla Inc. 0.66% 2,265 $720K No change
MO Altria Group Inc. 0.65% 12,122 $711K No change
D Dominion Energy Inc. 0.62% 12,050 $681K New
PYPL PayPal Holdings Inc. 0.58% 8,561 $636K Reduce -6.3%
INTC Intel Corp. 0.56% 27,409 $614K Reduce -4.4%
AMD Advanced Micro Devices 0.56% 4,300 $610K New
COST Costco Wholesale Corp. 0.49% 540 $535K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.48% 850 $525K Reduce -2.5%
GS Goldman Sachs Group Inc. 0.45% 700 $495K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.44% 3,900 $484K No change
FTSM First Trust Enh Short Mat FD 0.43% 7,926 $475K Add +56.1%
PG The Procter & Gamble Co. 0.40% 2,755 $439K No change
WMB Williams Cos Inc. 0.39% 6,775 $426K New
MRK Merck & Co. Inc. 0.39% 5,325 $422K No change
GBTC Grayscale Bitcoin Trust ETF 0.38% 4,870 $413K Reduce -16.7%
CVS CVS Health Corp. 0.37% 5,930 $409K No change
ADM Archer-Daniels-Midland Co. 0.37% 7,640 $403K Reduce -6.7%
ILF iShares Latin America 40 ETF 0.37% 15,250 $400K No change
XYZ Block Inc. 0.34% 5,408 $367K Add +5.9%
MXF Mexico Fund Inc. 0.34% 20,875 $367K No change
DVN Devon Energy Corp. 0.33% 11,425 $363K New
SHEL Shell PLC-ADR 0.33% 5,110 $360K No change
T AT&T Inc. 0.32% 12,252 $355K No change
FXI iShares China Large-Cap ETF 0.30% 9,030 $332K No change
KMB Kimberly-Clark Corp. 0.28% 2,350 $303K No change
AFL Aflac Inc. 0.27% 2,847 $300K New
CSCO Cisco Systems Inc. 0.27% 4,200 $291K Reduce -9.2%
EWT iShares MSCI Taiwan ETF 0.27% 5,075 $291K No change
SBSI Southside Bancshares Inc. 0.25% 9,423 $277K Reduce -9.6%
SNOW Snowflake Inc. 0.24% 1,172 $262K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.24% 5,450 $258K Reduce -34.3%
NOW ServiceNow Inc. 0.23% 242 $249K New
IWS iShares Russell Mid-Cap Valu 0.22% 1,850 $244K No change
LUV Southwest Airlines Co. 0.22% 7,429 $241K No change
AMGN Amgen Inc. 0.21% 840 $235K No change
JD Jd.com Inc.-ADR 0.21% 7,140 $233K Reduce -2.9%
DG Dollar General Corp. 0.21% 2,005 $229K New
META Meta Platforms Inc. Class A 0.20% 301 $222K New
NFLX Netflix Inc. 0.20% 165 $221K New
EWH iShares MSCI Hong Kong ETF 0.20% 11,050 $219K New
JPM JPMorgan Chase & Co. 0.20% 738 $214K Reduce -11.9%
STEL Stellar Bancorp Inc. 0.19% 7,581 $212K No change
OXY Occidental Petroleum Corp. 0.19% 5,000 $210K No change
SJT San Juan Basin Royalty TR 0.06% 11,500 $69K New

Portfolio Sells Q1 2025 → Q2 2025
AAPL Apple Inc. Reduce -17.8% 7.33% −3.23
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.6% 6.15% −1.42
WMT Walmart Inc. Reduce -19.0% 4.36% −0.92
XOM Exxon Mobil Corp. Reduce -1.5% 3.74% −0.84
EOG EOG Resources Inc. Reduce -26.0% 0.73% −0.43
SNY Sanofi-ADR Sold out 0.00% −0.39
ABBV Abbvie Inc. Reduce -6.7% 1.19% −0.38
JNJ Johnson & Johnson Reduce -7.0% 1.31% −0.36
SO The Southern Co. Reduce -4.1% 2.39% −0.34
DUK Duke Energy Corp. Reduce -1.3% 1.64% −0.24
ADBE Adobe Inc. Reduce -13.8% 0.77% −0.20
KO The Coca-Cola Co. Reduce -8.9% 0.66% −0.14
ABT Abbott Laboratories Reduce -5.6% 1.09% −0.14
BAC Bank of America Corp. Reduce -34.3% 0.24% −0.11
INTC Intel Corp. Reduce -4.4% 0.56% −0.09
JD Jd.com Inc.-ADR Reduce -2.9% 0.21% −0.09
SBSI Southside Bancshares Inc. Reduce -9.6% 0.25% −0.05
SLV iShares Silver Trust Reduce -0.3% 0.98% −0.04
ADM Archer-Daniels-Midland Co. Reduce -6.7% 0.37% −0.02
CSCO Cisco Systems Inc. Reduce -9.2% 0.27% −0.02
PYPL PayPal Holdings Inc. Reduce -6.3% 0.58% −0.01
JPM JPMorgan Chase & Co. Reduce -11.9% 0.20% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.5% 0.48% −0.00
GBTC Grayscale Bitcoin Trust ETF Reduce -16.7% 0.38% +0.02
GDX Vaneck Gold Miners ETF Reduce -1.7% 2.16% +0.04
NEM Newmont Corp. Reduce -3.8% 1.34% +0.08
AMZN Amazon.com Inc. Reduce -0.6% 1.93% +0.09
GOOGL Alphabet Inc. Class A Reduce -0.2% 3.00% +0.12
ORCL Oracle Corp. Reduce -3.0% 1.76% +0.49

Portfolio Buys Q1 2025 → Q2 2025
JPST JPMorgan Ultra-Short Income New 1.89% +1.89
FWONK Liberty Media Corp. Class C New 0.78% +0.78
VZ Verizon Communications Inc. Add +70.3% 2.14% +0.70
D Dominion Energy Inc. New 0.62% +0.62
AMD Advanced Micro Devices New 0.56% +0.56
UBER Uber Technologies Inc. Add +83.3% 0.92% +0.49
WMB Williams Cos Inc. New 0.39% +0.39
JEPI JPMorgan Equity Premium Inco Add +27.7% 2.50% +0.35
DVN Devon Energy Corp. New 0.33% +0.33
AFL Aflac Inc. New 0.27% +0.27
SNOW Snowflake Inc. New 0.24% +0.24
NOW ServiceNow Inc. New 0.23% +0.23
DG Dollar General Corp. New 0.21% +0.21
META Meta Platforms Inc. Class A New 0.20% +0.20
NFLX Netflix Inc. New 0.20% +0.20
EWH iShares MSCI Hong Kong ETF New 0.20% +0.20
FBTC Fidelity Wise Origin Bitcoin Add +2.8% 1.02% +0.19
FTSM First Trust Enh Short Mat FD Add +56.1% 0.43% +0.13
SJT San Juan Basin Royalty TR New 0.06% +0.06
XYZ Block Inc. Add +5.9% 0.34% +0.06
SBR Sabine Royalty Trust Add +1.5% 0.73% −0.07
PFE Pfizer Inc. Add +2.3% 0.87% −0.10
PEP Pepsico Inc. Add +1.4% 1.29% −0.29

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