Second Line Capital, LLC

Name: Second Line Capital, LLC 13F holdings, Q1 2025
Creator: Second Line Capital, LLC
Published: 2025-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Second Line Capital, LLC reported 145 stock positions worth $388.1 million. Its top holding was Aptus Collared Invest Opp (ACIO) at 11.6% of the portfolio, followed by Aptus Defined Risk ETF (DRSK, 8.6%) and Aptus Intl Enhan YLD ETF (IDUB, 6.6%). Compared with Q4 2024, it opened 24 new positions, sold out of 10, added to 69 and reduced 36. The biggest buy was a new position in iShares Core S&P Small-Cap E (IJR) and the biggest sale Broadcom (AVGO, shares −70%).

Most Recent 13F: Q2 2026
Location: METAIRIE, LA
CIK: 0001992879
Portfolio Value: $388.1M (Q1 2025)
SEC Filing: 0001992879-25-000002 ↗ filed May 15, 2025

Holdings Value

Holdings 145 stocks · $388.1M


ACIO Aptus Collared Invest Opp	11.62%	1,165,331	$45.1M	Add +3.4%
DRSK Aptus Defined Risk ETF	8.63%	1,227,663	$33.5M	Add +3.6%
IDUB Aptus Intl Enhan YLD ETF	6.60%	1,227,594	$25.6M	Add +5.9%
SPDW Ste STR SPDR PT DW Eu ETF	5.31%	566,088	$20.6M	Add +3.9%
ADME Aptus Drwdwn MGD Eqty ETF	4.73%	413,741	$18.4M	Add +3.8%
SPY SS SPDR S&P 500 ETF Trust-US	4.72%	32,660	$18.3M	Add +1.4%
OSCV Opus Small Cap Value ETF	4.70%	523,710	$18.3M	Add +5.0%
JUCY Aptus Enhanced Yield ETF	4.53%	770,420	$17.6M	Add +4.1%
RSP Invesco S&P 500 Equal Weight	3.05%	68,304	$11.8M	Add +4.7%
DUBS Aptus LRG Cap Enh YLD ETF	2.57%	322,590	$10.0M	Add +3.7%
SPEM State Street SP PTF Em ETF	2.29%	226,218	$8.9M	Add +4.7%
APP AppLovin Corp. Class A	1.84%	27,019	$7.2M	Add +0.7%
META Meta Platforms Inc. Class A	1.58%	10,614	$6.1M	Add +1.7%
MSFT Microsoft Corp.	1.54%	15,963	$6.0M	Add +2.9%
AAPL Apple Inc.	1.44%	25,215	$5.6M	Add +2.5%
JPM JPMorgan Chase & Co.	1.41%	22,308	$5.5M	Add +3.1%
XOM Exxon Mobil Corp.	1.33%	43,465	$5.2M	Reduce -1.6%
NVDA Nvidia Corp.	1.12%	39,989	$4.3M	Add +25.8%
CVX Chevron Corp.	1.07%	24,907	$4.2M	Reduce -2.0%
AMZN Amazon.com Inc.	1.04%	21,260	$4.0M	Add +0.6%
BKAG BNY Mellon Core Bond ETF	1.04%	95,881	$4.0M	Add +2.5%
WMT Walmart Inc.	0.96%	42,180	$3.7M	Reduce -0.2%
V Visa Inc. Class A	0.95%	10,518	$3.7M	Add +0.8%
PGR Progressive Corp.	0.93%	12,812	$3.6M	Add +2.5%
CHE Chemed Corp.	0.92%	5,801	$3.6M	Add +8.4%
AMT American Tower Corp.	0.90%	16,130	$3.5M	Add +10.9%
ROP Roper Technologies Inc.	0.89%	5,840	$3.4M	Add +7.3%
HD Home Depot Inc.	0.87%	9,222	$3.4M	Add +3.9%
UNH Unitedhealth Group Inc.	0.86%	6,402	$3.4M	Add +9.4%
BR Broadridge Financial Solutio	0.86%	13,691	$3.3M	Add +3.5%
CPRT Copart Inc.	0.80%	54,647	$3.1M	Add +4.0%
FANG Diamondback Energy Inc.	0.77%	18,776	$3.0M	Add +9.4%
MARA Mara Holdings Inc.	0.68%	231,110	$2.7M	Reduce -0.0%
OCUL Ocular Therapeutix Inc.	0.65%	346,098	$2.5M	Add +1.8%
PWR Quanta Services Inc.	0.63%	9,659	$2.5M	Add +3.7%
IJR iShares Core S&P Small-Cap E	0.62%	22,929	$2.4M	New
PG The Procter & Gamble Co.	0.61%	13,952	$2.4M	Add +382.6%
AMD Advanced Micro Devices	0.58%	21,740	$2.2M	Add +1.8%
TSLA Tesla Inc.	0.57%	8,550	$2.2M	Add +8.4%
VOO Vanguard S&P 500 ETF	0.55%	4,178	$2.1M	Add +0.2%
IJH iShares Core S&P Midcap ETF	0.53%	35,523	$2.1M	New
EFA iShares MSCI Eafe ETF	0.45%	21,224	$1.7M	New
BRK.B Berkshire Hathaway Inc. Class B	0.44%	3,229	$1.7M	Add +45.9%
IVV iShares Core S&P 500 ETF	0.43%	2,944	$1.7M	New
ARCC Ares Capital Corp.	0.40%	69,778	$1.5M	Add +0.9%
SHAK Shake Shack Inc. Class A	0.38%	16,930	$1.5M	New
GCT Gigacloud Technology Inc. Class A	0.34%	91,914	$1.3M	Reduce -23.6%
DECK Deckers Outdoor Corp.	0.33%	11,336	$1.3M	New
VKTX Viking Therapeutics Inc.	0.31%	50,381	$1.2M	Add +1.8%
XSCDX LMP Capital and Income Fund	0.31%	75,600	$1.2M	No change
FUBO Fubotv Inc.	0.30%	402,327	$1.2M	Reduce -25.0%
LOW Lowe's Cos Inc.	0.28%	4,709	$1.1M	Reduce -1.8%
T AT&T Inc.	0.26%	36,089	$1.0M	Reduce -7.0%
SO The Southern Co.	0.26%	10,861	$999K	Reduce -9.3%
JNJ Johnson & Johnson	0.25%	5,753	$954K	Add +7.8%
QQQ Invesco QQQ Trust Series 1	0.23%	1,895	$889K	Add +1.6%
ACLS Axcelis Technologies Inc.	0.22%	17,343	$861K	New
SPMD SS SPDR P S&P 400 Midcap ETF	0.21%	15,832	$810K	Reduce -9.1%
KO The Coca-Cola Co.	0.17%	9,376	$676K	Add +9.9%
ORCL Oracle Corp.	0.17%	4,705	$658K	Add +24.3%
GOOGL Alphabet Inc. Class A	0.17%	4,159	$643K	Reduce -9.6%
VIG Vanguard Dividend Apprec ETF	0.16%	3,158	$613K	Add +12.7%
PDT John Hancock Prem DVD FND	0.15%	45,144	$590K	Reduce -9.0%
AZO AutoZone Inc.	0.15%	150	$572K	No change
NTLA Intellia Therapeutics Inc.	0.15%	79,699	$567K	Reduce -39.2%
VXUS Vanguard Total Intl Stock	0.14%	8,604	$534K	No change
COP Conocophillips	0.14%	4,992	$524K	Add +0.0%
MRK Merck & Co. Inc.	0.13%	5,363	$486K	Add +5.9%
ET Energy Transfer LP	0.12%	25,245	$469K	Reduce -1.9%
AVGO Broadcom Inc.	0.12%	2,757	$462K	Reduce -70.4%
FSK FS KKR Capital Corp.	0.12%	21,173	$458K	No change
KMI Kinder Morgan Inc.	0.12%	15,825	$451K	Add +2.2%
AR Antero Resources Corp.	0.12%	11,118	$450K	Add +7.2%
CL Colgate-Palmolive Co.	0.12%	4,770	$447K	Add +42.3%
GLD SPDR Gold Shares	0.11%	1,519	$438K	Reduce -15.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.11%	10,297	$430K	New
SPSM SS SPDR P S&P 600 Small Cap	0.11%	10,511	$428K	Reduce -5.5%
VZ Verizon Communications Inc.	0.11%	9,271	$421K	Add +6.5%
VUG Vanguard Mrngstar GR ETF-Sui	0.11%	1,101	$408K	Add +5.6%
MO Altria Group Inc.	0.10%	6,643	$405K	Add +26.4%
BP BP PLC-Spons ADR	0.10%	11,909	$402K	Reduce -11.2%
MCD McDonald's Corp.	0.10%	1,288	$402K	Add +48.2%
PSX Phillips 66	0.10%	3,134	$387K	Reduce -8.7%
LGLV SPDR US LC Low Vol Idx	0.10%	2,184	$380K	Reduce -12.7%
MSI Motorola Solutions Inc.	0.09%	823	$361K	Add +68.7%
XLV SS Health Care Select Sector	0.09%	2,474	$361K	Reduce -19.5%
TT Trane Technologies PLC	0.09%	1,042	$351K	New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.09%	1,406	$350K	No change
ABBV Abbvie Inc.	0.09%	1,666	$349K	Add +43.4%
ABT Abbott Laboratories	0.09%	2,587	$343K	Add +42.8%
IYR iShares US Real Estate ETF	0.09%	3,501	$335K	New
PSA Public Storage	0.09%	1,119	$335K	Reduce -0.4%
XLF SS Financial Select Sector	0.08%	6,424	$320K	Add +0.8%
MDIV FT Multi-Asset Divers Inc.	0.08%	19,305	$316K	No change
VGT Vanguard Info Tech ETF	0.08%	580	$315K	Reduce -1.7%
CRWD CrowdStrike Holdings Inc. Class A	0.08%	887	$313K	Reduce -6.6%
IGRO iShares Intl Div Growth ETF	0.08%	4,315	$313K	Add +9.9%
AB Alliancebernstein Holding LP	0.08%	8,155	$312K	Reduce -4.1%
VTI VG Morningstar TS MKT ETF-US	0.08%	1,129	$310K	Reduce -0.8%
POOL Pool Corp.	0.08%	964	$307K	Add +8.6%
BIL SS SPDR BB 1-3M T-Bill ETF	0.07%	3,138	$288K	Reduce -41.8%
LIN Linde PLC	0.07%	609	$284K	Add +4.5%
XLK SS Technology Select Sector	0.07%	1,341	$277K	Reduce -6.1%
AM Antero Midstream Corp.	0.07%	15,380	$277K	No change
IDEV iShares Core MSCI Dev MKTS	0.07%	3,989	$275K	No change
BX Blackstone Inc.	0.07%	1,959	$274K	No change
GE General Electric filed as GE AEROSPACE	0.07%	1,353	$271K	New
AIRR First Trust Rba American Ind	0.07%	3,976	$271K	No change
WMB Williams Cos Inc.	0.07%	4,536	$271K	Add +1.1%
JPST JPMorgan Ultra-Short Income	0.07%	5,326	$270K	Add +18.1%
CSCO Cisco Systems Inc.	0.07%	4,190	$259K	Add +5.2%
ROK Rockwell Automation Inc.	0.07%	995	$257K	No change
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.07%	2,603	$257K	New
ALL Allstate Corp.	0.07%	1,215	$253K	New
C Citigroup Inc.	0.06%	3,548	$252K	Add +24.5%
SLYG SS SPDR S&P 600 SC GR ETF	0.06%	2,986	$248K	Reduce -18.3%
HON Honeywell International Inc.	0.06%	1,152	$244K	No change
WEC WEC Energy Group Inc.	0.06%	2,193	$239K	Reduce -35.4%
WM Waste Management Inc.	0.06%	1,014	$235K	Reduce -3.9%
VYM Vanguard High DVD Yield ETF	0.06%	1,816	$234K	Reduce -3.5%
SILA Sila Realty Trust Inc.	0.06%	8,705	$233K	New
NEE Nextera Energy Inc.	0.06%	3,256	$231K	Add +2.5%
SCHD Schwab US DVD Equity ETF	0.06%	8,250	$231K	Add +6.2%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.06%	2,901	$229K	Reduce -19.7%
HWC Hancock Whitney Corp.	0.06%	4,339	$228K	No change
INFL Horizon Kinetics Infl Benef	0.06%	5,530	$225K	No change
RA Brookfield Real Assets Incom	0.06%	17,023	$224K	Reduce -2.8%
ACN Accenture PLC Class A	0.06%	702	$219K	Add +1.9%
BNDX Vanguard Total Intl Bond ETF	0.06%	4,478	$219K	Add +1.4%
DTE DTE Energy Company	0.06%	1,556	$217K	New
ATO Atmos Energy Corp.	0.06%	1,403	$217K	New
SHY iShares 1-3 Year Treasury Bo	0.06%	2,618	$217K	New
BMY Bristol-Myers Squibb Co.	0.06%	3,544	$216K	Add +0.1%
CMCSA Comcast Corp. Class A	0.06%	5,825	$215K	New
RTX RTX Corp.	0.06%	1,618	$214K	New
ISRG Intuitive Surgical Inc.	0.05%	427	$211K	Reduce -26.1%
SPYV SS SPDR P S&P 500 Value ETF	0.05%	4,079	$208K	New
PM Philip Morris International	0.05%	1,277	$204K	New
DVN Devon Energy Corp.	0.05%	5,398	$203K	New
DGRO iShares Core Dividend Growth	0.05%	3,275	$202K	New
ED Consolidated Edison Inc.	0.05%	1,824	$202K	New
XAGDX Abrdn GLBL DYNM Divid	0.04%	14,894	$148K	Add +0.6%
NAD Nuveen Quality Municipal Inc.	0.03%	11,648	$135K	No change
F Ford Motor Co. filed as FORD MTR CO	0.03%	10,599	$106K	Reduce -15.3%
AMARIN CORP PLC	0.00%	11,420	$5K	No change

Portfolio Sells Q4 2024 → Q1 2025


AVGO Broadcom Inc.	Reduce -70.4%	0.12%	−0.46
MARA Mara Holdings Inc.	Reduce -0.0%	0.68%	−0.36
NTLA Intellia Therapeutics Inc.	Reduce -39.2%	0.15%	−0.27
GCT Gigacloud Technology Inc. Class A	Reduce -23.6%	0.34%	−0.26
ADBE Adobe Inc.	Sold out	0.00%	−0.09
WMT Walmart Inc.	Reduce -0.2%	0.96%	−0.08
GOOGL Alphabet Inc. Class A	Reduce -9.6%	0.17%	−0.07
PEP Pepsico Inc.	Sold out	0.00%	−0.07
SDY SS SPDR S&P Dividend ETF	Sold out	0.00%	−0.07
ANET Arista Networks Inc.	Sold out	0.00%	−0.06
XAR SS SPDR S&P Aerospace Def	Sold out	0.00%	−0.06
BKNG Booking Holdings Inc.	Sold out	0.00%	−0.06
WSM Williams-Sonoma Inc.	Sold out	0.00%	−0.06
BIL SS SPDR BB 1-3M T-Bill ETF	Reduce -41.8%	0.07%	−0.06
FISV Fiserv Inc.	Sold out	0.00%	−0.06
SPMD SS SPDR P S&P 400 Midcap ETF	Reduce -9.1%	0.21%	−0.05
LOW Lowe's Cos Inc.	Reduce -1.8%	0.28%	−0.04
ISRG Intuitive Surgical Inc.	Reduce -26.1%	0.05%	−0.03
JPC Nuveen Prefered & Income Opp	Sold out	0.00%	−0.03
SLYG SS SPDR S&P 600 SC GR ETF	Reduce -18.3%	0.06%	−0.03
WEC WEC Energy Group Inc.	Reduce -35.4%	0.06%	−0.02
SPSM SS SPDR P S&P 600 Small Cap	Reduce -5.5%	0.11%	−0.02
XLV SS Health Care Select Sector	Reduce -19.5%	0.09%	−0.02
PDT John Hancock Prem DVD FND	Reduce -9.0%	0.15%	−0.02
XLK SS Technology Select Sector	Reduce -6.1%	0.07%	−0.02
VGT Vanguard Info Tech ETF	Reduce -1.7%	0.08%	−0.02
ET Energy Transfer LP	Reduce -1.9%	0.12%	−0.01
XLU St Sr Utl SL SE SPDR ETF-Usd	Reduce -19.7%	0.06%	−0.01
LGLV SPDR US LC Low Vol Idx	Reduce -12.7%	0.10%	−0.01
GSAT Globalstar Inc.	Sold out	0.00%	−0.01
VTI VG Morningstar TS MKT ETF-US	Reduce -0.8%	0.08%	−0.01
SO The Southern Co.	Reduce -9.3%	0.26%	−0.01
CRWD CrowdStrike Holdings Inc. Class A	Reduce -6.6%	0.08%	−0.01
F Ford Motor Co.	Reduce -15.3%	0.03%	−0.01
PSX Phillips 66	Reduce -8.7%	0.10%	−0.01
RA Brookfield Real Assets Incom	Reduce -2.8%	0.06%	−0.01
GLD SPDR Gold Shares	Reduce -15.8%	0.11%	−0.01
AB Alliancebernstein Holding LP	Reduce -4.1%	0.08%	−0.00
PSA Public Storage	Reduce -0.4%	0.09%	−0.00
VYM Vanguard High DVD Yield ETF	Reduce -3.5%	0.06%	−0.00
BP BP PLC-Spons ADR	Reduce -11.2%	0.10%	−0.00
WM Waste Management Inc.	Reduce -3.9%	0.06%	+0.00
T AT&T Inc.	Reduce -7.0%	0.26%	+0.02
XOM Exxon Mobil Corp.	Reduce -1.6%	1.33%	+0.05
CVX Chevron Corp.	Reduce -2.0%	1.07%	+0.08
FUBO Fubotv Inc.	Reduce -25.0%	0.30%	+0.12

Portfolio Buys Q4 2024 → Q1 2025


IJR iShares Core S&P Small-Cap E	New	0.62%	+0.62
IJH iShares Core S&P Midcap ETF	New	0.53%	+0.53
PG The Procter & Gamble Co.	Add +382.6%	0.61%	+0.48
EFA iShares MSCI Eafe ETF	New	0.45%	+0.45
IVV iShares Core S&P 500 ETF	New	0.43%	+0.43
SHAK Shake Shack Inc. Class A	New	0.38%	+0.38
DECK Deckers Outdoor Corp.	New	0.33%	+0.33
IDUB Aptus Intl Enhan YLD ETF	Add +5.9%	6.60%	+0.32
SPDW Ste STR SPDR PT DW Eu ETF	Add +3.9%	5.31%	+0.30
ACLS Axcelis Technologies Inc.	New	0.22%	+0.22
AMT American Tower Corp.	Add +10.9%	0.90%	+0.18
BRK.B Berkshire Hathaway Inc. Class B	Add +45.9%	0.44%	+0.17
CHE Chemed Corp.	Add +8.4%	0.92%	+0.16
PGR Progressive Corp.	Add +2.5%	0.93%	+0.13
ROP Roper Technologies Inc.	Add +7.3%	0.89%	+0.12
BAC Bank of America Corp.	New	0.11%	+0.11
TT Trane Technologies PLC	New	0.09%	+0.09
IYR iShares US Real Estate ETF	New	0.09%	+0.09
GE General Electric	New	0.07%	+0.07
UNH Unitedhealth Group Inc.	Add +9.4%	0.86%	+0.07
DIS The Walt Disney Co.	New	0.07%	+0.07
ALL Allstate Corp.	New	0.07%	+0.07
V Visa Inc. Class A	Add +0.8%	0.95%	+0.06
SILA Sila Realty Trust Inc.	New	0.06%	+0.06
SPEM State Street SP PTF Em ETF	Add +4.7%	2.29%	+0.06
ATO Atmos Energy Corp.	New	0.06%	+0.06
DTE DTE Energy Company	New	0.06%	+0.06
SHY iShares 1-3 Year Treasury Bo	New	0.06%	+0.06
CMCSA Comcast Corp. Class A	New	0.06%	+0.06
RTX RTX Corp.	New	0.06%	+0.06
SPYV SS SPDR P S&P 500 Value ETF	New	0.05%	+0.05
PM Philip Morris International	New	0.05%	+0.05
DVN Devon Energy Corp.	New	0.05%	+0.05
DGRO iShares Core Dividend Growth	New	0.05%	+0.05
ED Consolidated Edison Inc.	New	0.05%	+0.05
BR Broadridge Financial Solutio	Add +3.5%	0.86%	+0.05
JNJ Johnson & Johnson	Add +7.8%	0.25%	+0.04
MCD McDonald's Corp.	Add +48.2%	0.10%	+0.04
ABBV Abbvie Inc.	Add +43.4%	0.09%	+0.03
ABT Abbott Laboratories	Add +42.8%	0.09%	+0.03
CL Colgate-Palmolive Co.	Add +42.3%	0.12%	+0.03
MSI Motorola Solutions Inc.	Add +68.7%	0.09%	+0.03
KO The Coca-Cola Co.	Add +9.9%	0.17%	+0.03
MO Altria Group Inc.	Add +26.4%	0.10%	+0.03
AR Antero Resources Corp.	Add +7.2%	0.12%	+0.02
FANG Diamondback Energy Inc.	Add +9.4%	0.77%	+0.02
VZ Verizon Communications Inc.	Add +6.5%	0.11%	+0.01
JPM JPMorgan Chase & Co.	Add +3.1%	1.41%	+0.01
C Citigroup Inc.	Add +24.5%	0.06%	+0.01
VIG Vanguard Dividend Apprec ETF	Add +12.7%	0.16%	+0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026Amended	173	$537.0M	ACIO, DRSK, IDUB, SPY, SPDW
Q1 2026	185	$528.0M	ACIO, DRSK, IDUB, SPY, SPDW
Q4 2025	166	$486.6M	ACIO, DRSK, IDUB, SPDW, ADME
Q3 2025	160	$483.1M	ACIO, DRSK, IDUB, SPDW, ADME
Q2 2025	149	$430.4M	ACIO, DRSK, IDUB, SPDW, ADME
Q1 2025	145	$388.1M	ACIO, DRSK, IDUB, SPDW, ADME
Q4 2024	131	$370.9M	ACIO, DRSK, IDUB, SPY, ADME
Q3 2024	136	$366.9M	ACIO, DRSK, IDUB, SPDW, SPY
Q2 2024	115	$326.9M	ACIO, DRSK, IDUB, SPDW, SPY
Q1 2024	114	$308.3M	ACIO, DRSK, IDUB, SPDW, SPY