Second Line Capital, LLC

Name: Second Line Capital, LLC 13F holdings, Q2 2025
Creator: Second Line Capital, LLC
Published: 2025-08-18

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

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%
LIN Linde PLC	0.07%	685	$322K	Add +12.5%
IDEV iShares Core MSCI Dev MKTS	0.07%	4,058	$309K	Add +1.7%
WMB Williams Cos Inc.	0.07%	4,838	$304K	Add +6.7%
XLK SS Technology Select Sector	0.07%	1,199	$304K	Reduce -10.6%
ROK Rockwell Automation Inc.	0.07%	913	$303K	Reduce -8.2%
BX Blackstone Inc.	0.07%	1,959	$293K	No change
AM Antero Midstream Corp.	0.07%	15,380	$291K	No change
AIRR First Trust Rba American Ind	0.07%	3,516	$286K	Reduce -11.6%
CSCO Cisco Systems Inc.	0.07%	4,121	$286K	Reduce -1.6%
MDIV FT Multi-Asset Divers Inc.	0.07%	17,898	$283K	Reduce -7.3%
ISRG Intuitive Surgical Inc.	0.07%	520	$283K	Add +21.8%
BIL SS SPDR BB 1-3M T-Bill ETF	0.06%	2,998	$275K	Reduce -4.5%
C Citigroup Inc.	0.06%	3,201	$272K	Reduce -9.8%
JPST JPMorgan Ultra-Short Income	0.06%	5,350	$271K	Add +0.5%
HON Honeywell International Inc.	0.06%	1,153	$268K	Add +0.1%
POOL Pool Corp.	0.06%	913	$266K	Reduce -5.3%
SLYG SS SPDR S&P 600 SC GR ETF	0.06%	2,988	$265K	Add +0.1%
IYR iShares US Real Estate ETF	0.06%	2,746	$260K	Reduce -21.6%
UBER Uber Technologies Inc.	0.06%	2,744	$256K	New
ALL Allstate Corp.	0.06%	1,216	$246K	Add +0.1%
PM Philip Morris International	0.06%	1,338	$245K	Add +4.8%
VYM Vanguard High DVD Yield ETF	0.06%	1,834	$244K	Add +1.0%
XAR SS SPDR S&P Aerospace Def	0.06%	1,131	$239K	New
NEE Nextera Energy Inc.	0.06%	3,427	$238K	Add +5.3%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.05%	2,891	$236K	Reduce -0.3%
SCHD Schwab US DVD Equity ETF	0.05%	8,850	$235K	Add +7.3%
HWC Hancock Whitney Corp.	0.05%	4,076	$234K	Reduce -6.1%
BA The Boeing Co.	0.05%	1,098	$230K	New
SHY iShares 1-3 Year Treasury Bo	0.05%	2,758	$229K	Add +5.3%
WEC WEC Energy Group Inc.	0.05%	2,193	$229K	No change
RA Brookfield Real Assets Incom	0.05%	17,085	$228K	Add +0.4%
RTX RTX Corp.	0.05%	1,542	$225K	Reduce -4.7%
BNDX Vanguard Total Intl Bond ETF	0.05%	4,478	$222K	No change
INFL Horizon Kinetics Infl Benef	0.05%	5,184	$219K	Reduce -6.3%
ATO Atmos Energy Corp.	0.05%	1,403	$216K	No change
SPYV SS SPDR P S&P 500 Value ETF	0.05%	4,129	$216K	Add +1.2%
SYK Stryker Corp.	0.05%	542	$215K	New
DTE DTE Energy Company	0.05%	1,606	$215K	Add +3.2%
CAT Caterpillar Inc.	0.05%	551	$214K	New
PHM Pultegroup Inc.	0.05%	2,008	$212K	New
SPYG SS SPDR P S&P 500 Growth ETF	0.05%	2,220	$212K	New
ACN Accenture PLC Class A	0.05%	703	$210K	Add +0.1%
WM Waste Management Inc.	0.05%	915	$209K	Reduce -9.8%
CMCSA Comcast Corp. Class A	0.05%	5,838	$208K	Add +0.2%
MSTR Strategy Inc. filed as MICROSTRATEGY INC	0.05%	510	$206K	New
SILA Sila Realty Trust Inc.	0.05%	8,705	$206K	No change
XAGDX Abrdn GLBL DYNM Divid	0.04%	14,956	$165K	Add +0.4%
NAD Nuveen Quality Municipal Inc.	0.03%	11,648	$132K	No change
FSCO FS Credit Opportunities Corp.	0.02%	11,473	$83K	New

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