Second Line Capital, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 18, 2025), Second Line Capital, LLC reported 149 stock positions worth $430.4 million. Its top holding was Aptus Collared Invest Opp (ACIO) at 11.6% of the portfolio, followed by Aptus Defined Risk ETF (DRSK, 8.4%) and Aptus Intl Enhan YLD ETF (IDUB, 6.7%). Compared with Q1 2025, it opened 14 new positions, sold out of 10, added to 75 and reduced 46. The biggest buy was a new position in Celestica (CLS) and the biggest sale Aptus Enhanced Yield ETF (JUCY, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- METAIRIE, LA
- CIK
- 0001992879
- Portfolio Value
- $430.4M (Q2 2025)
- SEC Filing
- 0001992879-25-000004 ↗ filed Aug 18, 2025
Holdings Value
Holdings 149 stocks · $430.4M
| ACIO Aptus Collared Invest Opp | 11.64% | 1,210,020 | $50.1M | Add +3.8% |
| DRSK Aptus Defined Risk ETF | 8.41% | 1,259,871 | $36.2M | Add +2.6% |
| IDUB Aptus Intl Enhan YLD ETF | 6.65% | 1,285,816 | $28.6M | Add +4.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 5.46% | 580,049 | $23.5M | Add +2.5% |
| ADME Aptus Drwdwn MGD Eqty ETF | 4.77% | 426,066 | $20.5M | Add +3.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.65% | 32,269 | $20.0M | Reduce -1.2% |
| OSCV Opus Small Cap Value ETF | 4.64% | 552,897 | $20.0M | Add +5.6% |
| JUCY Aptus Enhanced Yield ETF | 3.98% | 770,179 | $17.1M | Reduce -0.0% |
| RSP Invesco S&P 500 Equal Weight | 3.07% | 72,588 | $13.2M | Add +6.3% |
| DUBS Aptus LRG Cap Enh YLD ETF | 2.40% | 305,481 | $10.3M | Reduce -5.3% |
| SPEM State Street SP PTF Em ETF | 2.32% | 234,021 | $10.0M | Add +3.5% |
| APP AppLovin Corp. Class A | 2.21% | 27,146 | $9.5M | Add +0.5% |
| MSFT Microsoft Corp. | 2.04% | 17,656 | $8.8M | Add +10.6% |
| META Meta Platforms Inc. Class A | 1.78% | 10,389 | $7.7M | Reduce -2.1% |
| NVDA Nvidia Corp. | 1.59% | 43,350 | $6.8M | Add +8.4% |
| JPM JPMorgan Chase & Co. | 1.52% | 22,591 | $6.5M | Add +1.3% |
| AAPL Apple Inc. | 1.29% | 27,099 | $5.6M | Add +7.5% |
| AMZN Amazon.com Inc. | 1.17% | 22,929 | $5.0M | Add +7.8% |
| XOM Exxon Mobil Corp. | 1.11% | 44,485 | $4.8M | Add +2.4% |
| WMT Walmart Inc. | 0.99% | 43,740 | $4.3M | Add +3.7% |
| V Visa Inc. Class A | 0.90% | 10,866 | $3.9M | Add +3.3% |
| PWR Quanta Services Inc. | 0.89% | 10,082 | $3.8M | Add +4.4% |
| BKAG BNY Mellon Core Bond ETF | 0.88% | 89,693 | $3.8M | Reduce -6.5% |
| CLS Celestica Inc. | 0.87% | 23,905 | $3.7M | New |
| MARA Mara Holdings Inc. | 0.86% | 237,249 | $3.7M | Add +2.7% |
| AMT American Tower Corp. | 0.86% | 16,630 | $3.7M | Add +3.1% |
| OCUL Ocular Therapeutix Inc. | 0.83% | 385,467 | $3.6M | Add +11.4% |
| MRVL Marvell Technology Inc. | 0.82% | 45,604 | $3.5M | New |
| PGR Progressive Corp. | 0.82% | 13,197 | $3.5M | Add +3.0% |
| BR Broadridge Financial Solutio | 0.81% | 14,284 | $3.5M | Add +4.3% |
| ROP Roper Technologies Inc. | 0.80% | 6,079 | $3.4M | Add +4.1% |
| CVX Chevron Corp. | 0.80% | 24,006 | $3.4M | Reduce -3.6% |
| HD Home Depot Inc. | 0.79% | 9,232 | $3.4M | Add +0.1% |
| CHE Chemed Corp. | 0.69% | 6,084 | $3.0M | Add +4.9% |
| CPRT Copart Inc. | 0.67% | 58,931 | $2.9M | Add +7.8% |
| AMD Advanced Micro Devices | 0.67% | 20,348 | $2.9M | Reduce -6.4% |
| FANG Diamondback Energy Inc. | 0.66% | 20,691 | $2.8M | Add +10.2% |
| TSLA Tesla Inc. | 0.64% | 8,726 | $2.8M | Add +2.1% |
| VOO Vanguard S&P 500 ETF | 0.55% | 4,178 | $2.4M | No change |
| IJH iShares Core S&P Midcap ETF | 0.49% | 34,273 | $2.1M | Reduce -3.5% |
| IJR iShares Core S&P Small-Cap E | 0.49% | 19,444 | $2.1M | Reduce -15.2% |
| DECK Deckers Outdoor Corp. | 0.45% | 18,981 | $2.0M | Add +67.4% |
| UNH Unitedhealth Group Inc. | 0.45% | 6,269 | $2.0M | Reduce -2.1% |
| EFA iShares MSCI Eafe ETF | 0.43% | 20,815 | $1.9M | Reduce -1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.42% | 3,742 | $1.8M | Add +15.9% |
| IVV iShares Core S&P 500 ETF | 0.39% | 2,675 | $1.7M | Reduce -9.1% |
| UPSD Aptus Large Cap Upside ETF | 0.37% | 63,946 | $1.6M | New |
| FUBO Fubotv Inc. | 0.35% | 390,612 | $1.5M | Reduce -2.9% |
| ARCC Ares Capital Corp. | 0.32% | 61,942 | $1.4M | Reduce -11.2% |
| XSCDX LMP Capital and Income Fund | 0.26% | 71,600 | $1.1M | Reduce -5.3% |
| T AT&T Inc. | 0.25% | 36,511 | $1.1M | Add +1.2% |
| PG The Procter & Gamble Co. | 0.24% | 6,586 | $1.0M | Reduce -52.8% |
| ORCL Oracle Corp. | 0.24% | 4,778 | $1.0M | Add +1.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 1,891 | $1.0M | Reduce -0.2% |
| LOW Lowe's Cos Inc. | 0.24% | 4,676 | $1.0M | Reduce -0.7% |
| SO The Southern Co. | 0.23% | 10,974 | $1.0M | Add +1.0% |
| JNJ Johnson & Johnson | 0.20% | 5,648 | $863K | Reduce -1.8% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.20% | 15,731 | $855K | Reduce -0.6% |
| DEFR Aptus Deferred Income ETF | 0.18% | 30,876 | $792K | New |
| GOOGL Alphabet Inc. Class A | 0.18% | 4,380 | $772K | Add +5.3% |
| AVGO Broadcom Inc. | 0.16% | 2,547 | $702K | Reduce -7.6% |
| KO The Coca-Cola Co. | 0.16% | 9,651 | $688K | Add +2.9% |
| VXUS Vanguard Total Intl Stock | 0.14% | 8,614 | $595K | Add +0.1% |
| NTLA Intellia Therapeutics Inc. | 0.14% | 63,027 | $591K | Reduce -20.9% |
| VIG Vanguard Dividend Apprec ETF | 0.14% | 2,871 | $590K | Reduce -9.1% |
| PDT John Hancock Prem DVD FND | 0.13% | 44,071 | $580K | Reduce -2.4% |
| AZO AutoZone Inc. | 0.13% | 150 | $557K | No change |
| MRK Merck & Co. Inc. | 0.11% | 6,078 | $486K | Add +13.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.11% | 1,095 | $480K | Reduce -0.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.11% | 10,135 | $480K | Reduce -1.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.11% | 934 | $476K | Add +5.3% |
| ET Energy Transfer LP | 0.11% | 26,237 | $476K | Add +3.9% |
| KMI Kinder Morgan Inc. | 0.11% | 16,092 | $473K | Add +1.7% |
| COP Conocophillips | 0.11% | 5,246 | $471K | Add +5.1% |
| TT Trane Technologies PLC | 0.11% | 1,052 | $460K | Add +1.0% |
| GLD SPDR Gold Shares | 0.11% | 1,509 | $460K | Reduce -0.7% |
| MO Altria Group Inc. | 0.11% | 7,647 | $456K | Add +15.1% |
| AR Antero Resources Corp. | 0.10% | 11,118 | $448K | No change |
| SPSM SS SPDR P S&P 600 Small Cap | 0.10% | 10,504 | $447K | Reduce -0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 1,508 | $445K | Add +7.3% |
| CL Colgate-Palmolive Co. | 0.10% | 4,770 | $434K | No change |
| FSK FS KKR Capital Corp. | 0.10% | 20,211 | $434K | Reduce -4.5% |
| VZ Verizon Communications Inc. | 0.09% | 9,255 | $400K | Reduce -0.2% |
| VGT Vanguard Info Tech ETF | 0.09% | 590 | $391K | Add +1.7% |
| LGLV SPDR US LC Low Vol Idx | 0.09% | 2,186 | $382K | Add +0.1% |
| BP BP PLC-Spons ADR | 0.09% | 12,754 | $382K | Add +7.1% |
| AB Alliancebernstein Holding LP | 0.09% | 9,295 | $379K | Add +14.0% |
| MCD McDonald's Corp. | 0.09% | 1,288 | $376K | No change |
| PSX Phillips 66 | 0.09% | 3,134 | $374K | No change |
| NOW ServiceNow Inc. | 0.09% | 361 | $371K | New |
| MSI Motorola Solutions Inc. | 0.08% | 857 | $361K | Add +4.1% |
| IGRO iShares Intl Div Growth ETF | 0.08% | 4,537 | $358K | Add +5.1% |
| GE General Electric filed as GE AEROSPACE | 0.08% | 1,371 | $353K | Add +1.3% |
| ABT Abbott Laboratories | 0.08% | 2,588 | $352K | Add +0.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 1,129 | $344K | No change |
| PSA Public Storage | 0.08% | 1,134 | $333K | Add +1.3% |
| ABBV Abbvie Inc. | 0.08% | 1,778 | $330K | Add +6.7% |
| XLF SS Financial Select Sector | 0.08% | 6,222 | $326K | Reduce -3.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.08% | 2,608 | $325K | Add +0.2% |
| XLV SS Health Care Select Sector | 0.07% | 2,389 | $322K | Reduce -3.4% |
Portfolio Sells Q1 2025 → Q2 2025
| JUCY Aptus Enhanced Yield ETF | Reduce -0.0% | 3.98% | −0.55 |
| UNH Unitedhealth Group Inc. | Reduce -2.1% | 0.45% | −0.41 |
| SHAK Shake Shack Inc. Class A | Sold out | 0.00% | −0.38 |
| PG The Procter & Gamble Co. | Reduce -52.8% | 0.24% | −0.37 |
| GCT Gigacloud Technology Inc. Class A | Sold out | 0.00% | −0.34 |
| VKTX Viking Therapeutics Inc. | Sold out | 0.00% | −0.31 |
| CVX Chevron Corp. | Reduce -3.6% | 0.80% | −0.28 |
| ACLS Axcelis Technologies Inc. | Sold out | 0.00% | −0.22 |
| DUBS Aptus LRG Cap Enh YLD ETF | Reduce -5.3% | 2.40% | −0.17 |
| BKAG BNY Mellon Core Bond ETF | Reduce -6.5% | 0.88% | −0.16 |
| IJR iShares Core S&P Small-Cap E | Reduce -15.2% | 0.49% | −0.12 |
| ARCC Ares Capital Corp. | Reduce -11.2% | 0.32% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.2% | 4.65% | −0.08 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.06 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.05 |
| DGRO iShares Core Dividend Growth | Sold out | 0.00% | −0.05 |
| ED Consolidated Edison Inc. | Sold out | 0.00% | −0.05 |
| XSCDX LMP Capital and Income Fund | Reduce -5.3% | 0.26% | −0.05 |
| JNJ Johnson & Johnson | Reduce -1.8% | 0.20% | −0.05 |
| LOW Lowe's Cos Inc. | Reduce -0.7% | 0.24% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -9.1% | 0.39% | −0.04 |
| IJH iShares Core S&P Midcap ETF | Reduce -3.5% | 0.49% | −0.04 |
| F Ford Motor Co. | Sold out | 0.00% | −0.03 |
| IYR iShares US Real Estate ETF | Reduce -21.6% | 0.06% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -9.1% | 0.14% | −0.02 |
| XLV SS Health Care Select Sector | Reduce -3.4% | 0.07% | −0.02 |
| FSK FS KKR Capital Corp. | Reduce -4.5% | 0.10% | −0.02 |
| PDT John Hancock Prem DVD FND | Reduce -2.4% | 0.13% | −0.02 |
| POOL Pool Corp. | Reduce -5.3% | 0.06% | −0.02 |
| MDIV FT Multi-Asset Divers Inc. | Reduce -7.3% | 0.07% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -0.2% | 0.09% | −0.02 |
| EFA iShares MSCI Eafe ETF | Reduce -1.9% | 0.43% | −0.01 |
| WM Waste Management Inc. | Reduce -9.8% | 0.05% | −0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -4.5% | 0.06% | −0.01 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -0.6% | 0.20% | −0.01 |
| NTLA Intellia Therapeutics Inc. | Reduce -20.9% | 0.14% | −0.01 |
| INFL Horizon Kinetics Infl Benef | Reduce -6.3% | 0.05% | −0.01 |
| XLF SS Financial Select Sector | Reduce -3.1% | 0.08% | −0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -0.1% | 0.10% | −0.01 |
| GLD SPDR Gold Shares | Reduce -0.7% | 0.11% | −0.01 |
| HWC Hancock Whitney Corp. | Reduce -6.1% | 0.05% | −0.00 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -0.3% | 0.05% | −0.00 |
| AIRR First Trust Rba American Ind | Reduce -11.6% | 0.07% | −0.00 |
| RTX RTX Corp. | Reduce -4.7% | 0.05% | −0.00 |
| C Citigroup Inc. | Reduce -9.8% | 0.06% | −0.00 |
| AMARIN CORP PLC | Sold out | 0.00% | −0.00 |
| XLK SS Technology Select Sector | Reduce -10.6% | 0.07% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -1.6% | 0.07% | −0.00 |
| BAC Bank of America Corp. | Reduce -1.6% | 0.11% | +0.00 |
| ROK Rockwell Automation Inc. | Reduce -8.2% | 0.07% | +0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| CLS Celestica Inc. | New | 0.87% | +0.87 |
| MRVL Marvell Technology Inc. | New | 0.82% | +0.82 |
| MSFT Microsoft Corp. | Add +10.6% | 2.04% | +0.50 |
| NVDA Nvidia Corp. | Add +8.4% | 1.59% | +0.47 |
| UPSD Aptus Large Cap Upside ETF | New | 0.37% | +0.37 |
| APP AppLovin Corp. Class A | Add +0.5% | 2.21% | +0.36 |
| PWR Quanta Services Inc. | Add +4.4% | 0.89% | +0.25 |
| DEFR Aptus Deferred Income ETF | New | 0.18% | +0.18 |
| MARA Mara Holdings Inc. | Add +2.7% | 0.86% | +0.18 |
| OCUL Ocular Therapeutix Inc. | Add +11.4% | 0.83% | +0.18 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +2.5% | 5.46% | +0.15 |
| DECK Deckers Outdoor Corp. | Add +67.4% | 0.45% | +0.13 |
| AMZN Amazon.com Inc. | Add +7.8% | 1.17% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +1.3% | 1.52% | +0.11 |
| NOW ServiceNow Inc. | New | 0.09% | +0.09 |
| ORCL Oracle Corp. | Add +1.6% | 0.24% | +0.07 |
| TSLA Tesla Inc. | Add +2.1% | 0.64% | +0.07 |
| UBER Uber Technologies Inc. | New | 0.06% | +0.06 |
| XAR SS SPDR S&P Aerospace Def | New | 0.06% | +0.06 |
| BA The Boeing Co. | New | 0.05% | +0.05 |
| IDUB Aptus Intl Enhan YLD ETF | Add +4.7% | 6.65% | +0.05 |
| SYK Stryker Corp. | New | 0.05% | +0.05 |
| CAT Caterpillar Inc. | New | 0.05% | +0.05 |
| PHM Pultegroup Inc. | New | 0.05% | +0.05 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.05% | +0.05 |
| MSTR Strategy Inc. | New | 0.05% | +0.05 |
| ADME Aptus Drwdwn MGD Eqty ETF | Add +3.0% | 4.77% | +0.04 |
| WMT Walmart Inc. | Add +3.7% | 0.99% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +5.3% | 0.11% | +0.03 |
| SPEM State Street SP PTF Em ETF | Add +3.5% | 2.32% | +0.03 |
| ACIO Aptus Collared Invest Opp | Add +3.8% | 11.64% | +0.02 |
| FSCO FS Credit Opportunities Corp. | New | 0.02% | +0.02 |
| TT Trane Technologies PLC | Add +1.0% | 0.11% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +6.3% | 3.07% | +0.02 |
| GOOGL Alphabet Inc. Class A | Add +5.3% | 0.18% | +0.01 |
| IBM Intl Business Machines Corp. | Add +7.3% | 0.10% | +0.01 |
| GE General Electric | Add +1.3% | 0.08% | +0.01 |
| ISRG Intuitive Surgical Inc. | Add +21.8% | 0.07% | +0.01 |
| VGT Vanguard Info Tech ETF | Add +1.7% | 0.09% | +0.01 |
| DIS The Walt Disney Co. | Add +0.2% | 0.08% | +0.01 |
| AB Alliancebernstein Holding LP | Add +14.0% | 0.09% | +0.01 |
| PM Philip Morris International | Add +4.8% | 0.06% | +0.00 |
| IGRO iShares Intl Div Growth ETF | Add +5.1% | 0.08% | +0.00 |
| MO Altria Group Inc. | Add +15.1% | 0.11% | +0.00 |
| LIN Linde PLC | Add +12.5% | 0.07% | +0.00 |
| IDEV iShares Core MSCI Dev MKTS | Add +1.7% | 0.07% | +0.00 |
| WMB Williams Cos Inc. | Add +6.7% | 0.07% | +0.00 |
| VXUS Vanguard Total Intl Stock | Add +0.1% | 0.14% | +0.00 |
| XAGDX Abrdn GLBL DYNM Divid | Add +0.4% | 0.04% | +0.00 |
| HON Honeywell International Inc. | Add +0.1% | 0.06% | −0.00 |
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 |