Second Line Capital, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Second Line Capital, LLC reported 166 stock positions worth $486.6 million. Its top holding was Aptus Collared Invest Opp (ACIO) at 11.2% of the portfolio, followed by Aptus Defined Risk ETF (DRSK, 7.8%) and Aptus Intl Enhan YLD ETF (IDUB, 6.8%). Compared with Q3 2025, it opened 17 new positions, sold out of 11, added to 92 and reduced 42. The biggest buy was First Trust Enh Short Mat FD (FTSM, shares +94%) and the biggest sale an exit from Credo Technology Group Holdi (CRDO).
- Most Recent 13F
- Q2 2026
- Location
- METAIRIE, LA
- CIK
- 0001992879
- Portfolio Value
- $486.6M (Q4 2025)
- SEC Filing
- 0001992879-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 166 stocks · $486.6M
| ACIO Aptus Collared Invest Opp | 11.24% | 1,251,085 | $54.7M | Add +2.3% |
| DRSK Aptus Defined Risk ETF | 7.83% | 1,338,657 | $38.1M | Add +3.5% |
| IDUB Aptus Intl Enhan YLD ETF | 6.79% | 1,357,122 | $33.0M | Add +3.3% |
| SPDW Ste STR SPDR PT DW Eu ETF | 5.41% | 592,352 | $26.3M | Add +1.5% |
| ADME Aptus Drwdwn MGD Eqty ETF | 4.62% | 438,269 | $22.5M | Add +1.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.58% | 32,602 | $22.3M | Add +0.4% |
| OSCV Opus Small Cap Value ETF | 4.42% | 581,039 | $21.5M | Add +2.8% |
| JUCY Aptus Enhanced Yield ETF | 3.76% | 825,140 | $18.3M | Add +1.8% |
| RSP Invesco S&P 500 Equal Weight | 2.99% | 75,984 | $14.6M | Add +2.8% |
| APP AppLovin Corp. Class A | 2.94% | 21,225 | $14.3M | Add +2.0% |
| FTSM First Trust Enh Short Mat FD | 2.88% | 233,841 | $14.0M | Add +94.1% |
| DUBS Aptus LRG Cap Enh YLD ETF | 2.44% | 315,474 | $11.9M | Add +2.2% |
| SPEM State Street SP PTF Em ETF | 2.29% | 238,354 | $11.2M | Add +1.3% |
| MSFT Microsoft Corp. | 1.83% | 18,381 | $8.9M | Add +5.5% |
| NVDA Nvidia Corp. | 1.82% | 47,395 | $8.8M | Add +0.9% |
| AAPL Apple Inc. | 1.57% | 28,137 | $7.6M | Add +4.4% |
| JPM JPMorgan Chase & Co. | 1.50% | 22,645 | $7.3M | Add +0.5% |
| OCUL Ocular Therapeutix Inc. | 1.25% | 500,746 | $6.1M | Add +24.4% |
| AMZN Amazon.com Inc. | 1.23% | 25,836 | $6.0M | Add +1.9% |
| XOM Exxon Mobil Corp. | 1.06% | 43,063 | $5.2M | Reduce -0.8% |
| META Meta Platforms Inc. Class A | 1.03% | 7,592 | $5.0M | Add +5.5% |
| WMT Walmart Inc. | 1.02% | 44,338 | $5.0M | Add +1.2% |
| USFR Wisdomtree Floating Rate Tre | 1.01% | 97,198 | $4.9M | Add +10.5% |
| TSLA Tesla Inc. | 1.00% | 10,874 | $4.9M | Add +2.1% |
| CRWV Coreweave Inc. Class A | 0.96% | 65,456 | $4.7M | Add +66.9% |
| BKAG BNY Mellon Core Bond ETF | 0.83% | 95,067 | $4.0M | Add +3.5% |
| PWR Quanta Services Inc. | 0.82% | 9,488 | $4.0M | Add +1.1% |
| V Visa Inc. Class A | 0.81% | 11,302 | $4.0M | Add +2.8% |
| FANG Diamondback Energy Inc. | 0.79% | 25,702 | $3.9M | Add +1.2% |
| CVX Chevron Corp. | 0.73% | 23,293 | $3.6M | Reduce -1.4% |
| BR Broadridge Financial Solutio | 0.69% | 14,979 | $3.4M | Add +3.4% |
| PGR Progressive Corp. | 0.67% | 14,241 | $3.2M | Add +4.3% |
| HD Home Depot Inc. | 0.65% | 9,226 | $3.2M | Reduce -1.3% |
| CHE Chemed Corp. | 0.64% | 7,252 | $3.1M | Add +2.3% |
| AMT American Tower Corp. | 0.60% | 16,373 | $2.9M | Add +3.6% |
| CPRT Copart Inc. | 0.58% | 71,825 | $2.8M | Add +3.2% |
| NOW ServiceNow Inc. | 0.54% | 17,086 | $2.6M | Add +3.1% |
| VOO Vanguard S&P 500 ETF | 0.53% | 4,129 | $2.6M | Reduce -1.3% |
| APH Amphenol Corp. Class A | 0.51% | 18,247 | $2.5M | New |
| MARA Mara Holdings Inc. | 0.46% | 248,887 | $2.2M | Reduce -0.0% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.45% | 43,311 | $2.2M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 4,395 | $2.2M | Add +15.6% |
| IJR iShares Core S&P Small-Cap E | 0.42% | 17,198 | $2.1M | Reduce -8.7% |
| IJH iShares Core S&P Midcap ETF | 0.42% | 30,684 | $2.0M | Reduce -9.6% |
| UPSD Aptus Large Cap Upside ETF | 0.40% | 73,262 | $2.0M | Add +3.9% |
| EFA iShares MSCI Eafe ETF | 0.40% | 20,260 | $1.9M | Reduce -2.6% |
| IVV iShares Core S&P 500 ETF | 0.32% | 2,307 | $1.6M | Reduce -11.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.32% | 2,519 | $1.5M | Add +2.2% |
| GOOGL Alphabet Inc. Class A | 0.29% | 4,526 | $1.4M | Add +2.5% |
| LOW Lowe's Cos Inc. | 0.24% | 4,756 | $1.1M | Add +0.9% |
| DEFR Aptus Deferred Income ETF | 0.22% | 39,726 | $1.1M | Add +23.8% |
| FUBO Fubotv Inc. | 0.21% | 397,612 | $1.0M | No change |
| SO The Southern Co. | 0.19% | 10,691 | $932K | Reduce -2.6% |
| PG The Procter & Gamble Co. | 0.19% | 6,484 | $929K | Add +1.5% |
| AVGO Broadcom Inc. | 0.18% | 2,550 | $882K | Reduce -3.1% |
| JNJ Johnson & Johnson | 0.18% | 4,253 | $880K | Add +2.2% |
| ORCL Oracle Corp. | 0.18% | 4,471 | $871K | Reduce -6.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.18% | 14,806 | $857K | Reduce -2.3% |
| T AT&T Inc. | 0.16% | 31,490 | $782K | Reduce -0.9% |
| KO The Coca-Cola Co. | 0.14% | 9,622 | $673K | Add +3.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.13% | 11,906 | $655K | Add +0.1% |
| VXUS Vanguard Total Intl Stock | 0.13% | 8,500 | $641K | Reduce -0.1% |
| JPST JPMorgan Ultra-Short Income | 0.13% | 12,581 | $637K | Add +94.7% |
| VIG Vanguard Dividend Apprec ETF | 0.13% | 2,897 | $637K | Add +0.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.13% | 1,262 | $616K | Add +15.2% |
| SHY iShares 1-3 Year Treasury Bo | 0.12% | 7,240 | $600K | Add +132.9% |
| MRK Merck & Co. Inc. | 0.12% | 5,650 | $600K | Reduce -1.7% |
| COP Conocophillips | 0.11% | 5,850 | $548K | Add +1.8% |
| GLD SPDR Gold Shares | 0.11% | 1,376 | $545K | Reduce -4.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.11% | 1,162 | $545K | Add +6.0% |
| CAT Caterpillar Inc. | 0.11% | 939 | $538K | Add +2.1% |
| PDT John Hancock Prem DVD FND | 0.11% | 41,099 | $522K | Reduce -5.0% |
| AZO AutoZone Inc. | 0.11% | 153 | $519K | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.11% | 1,144 | $519K | Add +2.6% |
| LLY Eli Lilly & Co. | 0.11% | 478 | $514K | New |
| ET Energy Transfer LP | 0.10% | 30,874 | $509K | Reduce -0.3% |
| AMD Advanced Micro Devices | 0.10% | 2,301 | $493K | Reduce -2.1% |
| RTX RTX Corp. | 0.10% | 2,647 | $485K | Reduce -7.9% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.10% | 10,196 | $478K | Reduce -1.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 1,579 | $468K | Add +2.0% |
| KMI Kinder Morgan Inc. | 0.09% | 16,501 | $454K | Add +3.8% |
| VGT Vanguard Info Tech ETF | 0.09% | 590 | $445K | No change |
| MO Altria Group Inc. | 0.09% | 7,548 | $443K | Reduce -2.1% |
| PSX Phillips 66 | 0.09% | 3,213 | $415K | Add +2.5% |
| BP BP PLC-Spons ADR | 0.08% | 11,817 | $410K | Add +0.0% |
| C Citigroup Inc. | 0.08% | 3,426 | $400K | Add +4.5% |
| MCD McDonald's Corp. | 0.08% | 1,288 | $394K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 1,153 | $387K | Add +2.1% |
| SCHD Schwab US DVD Equity ETF | 0.08% | 13,801 | $379K | Reduce -10.6% |
| CL Colgate-Palmolive Co. | 0.08% | 4,770 | $377K | No change |
| ROP Roper Technologies Inc. | 0.08% | 837 | $372K | Reduce -86.3% |
| AR Antero Resources Corp. | 0.07% | 20,375 | $361K | Add +83.3% |
| XLK SS Technology Select Sector | 0.07% | 2,485 | $358K | Add +12.7% |
| ROK Rockwell Automation Inc. | 0.07% | 916 | $356K | No change |
| LGLV SPDR US LC Low Vol Idx | 0.07% | 2,006 | $352K | Reduce -3.5% |
| IGRO iShares Intl Div Growth ETF | 0.07% | 4,244 | $351K | Reduce -1.7% |
| VZ Verizon Communications Inc. | 0.07% | 8,622 | $351K | Add +1.6% |
| GE General Electric filed as GE AEROSPACE | 0.07% | 1,133 | $350K | No change |
| ISRG Intuitive Surgical Inc. | 0.07% | 616 | $349K | Add +5.1% |
| AIRR First Trust Rba American Ind | 0.07% | 3,516 | $346K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| CRDO Credo Technology Group Holdi | Sold out | 0.00% | −0.89 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.81 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.75 |
| ROP Roper Technologies Inc. | Reduce -86.3% | 0.08% | −0.56 |
| MARA Mara Holdings Inc. | Reduce -0.0% | 0.46% | −0.48 |
| ARCC Ares Capital Corp. | Sold out | 0.00% | −0.28 |
| NTLA Intellia Therapeutics Inc. | Sold out | 0.00% | −0.23 |
| XSCDX LMP Capital and Income Fund | Sold out | 0.00% | −0.17 |
| HD Home Depot Inc. | Reduce -1.3% | 0.65% | −0.13 |
| ORCL Oracle Corp. | Reduce -6.4% | 0.18% | −0.10 |
| SILA Sila Realty Trust Inc. | Sold out | 0.00% | −0.05 |
| WSM Williams-Sonoma Inc. | Sold out | 0.00% | −0.04 |
| IJH iShares Core S&P Midcap ETF | Reduce -9.6% | 0.42% | −0.04 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.04 |
| DTE DTE Energy Company | Sold out | 0.00% | −0.04 |
| IJR iShares Core S&P Small-Cap E | Reduce -8.7% | 0.42% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -11.9% | 0.32% | −0.04 |
| CVX Chevron Corp. | Reduce -1.4% | 0.73% | −0.03 |
| TT Trane Technologies PLC | Reduce -21.8% | 0.07% | −0.03 |
| T AT&T Inc. | Reduce -0.9% | 0.16% | −0.03 |
| SO The Southern Co. | Reduce -2.6% | 0.19% | −0.02 |
| MO Altria Group Inc. | Reduce -2.1% | 0.09% | −0.02 |
| FSK FS KKR Capital Corp. | Reduce -14.3% | 0.05% | −0.01 |
| PDT John Hancock Prem DVD FND | Reduce -5.0% | 0.11% | −0.01 |
| ANET Arista Networks Inc. | Reduce -11.0% | 0.05% | −0.01 |
| SCHD Schwab US DVD Equity ETF | Reduce -10.6% | 0.08% | −0.01 |
| MDIV FT Multi-Asset Divers Inc. | Reduce -11.2% | 0.05% | −0.01 |
| LAC Lithium Americas Corp. | Reduce -9.8% | 0.02% | −0.01 |
| KNSL Kinsale Capital Group Inc. | Reduce -2.5% | 0.06% | −0.01 |
| ET Energy Transfer LP | Reduce -0.3% | 0.10% | −0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -7.2% | 0.04% | −0.00 |
| LGLV SPDR US LC Low Vol Idx | Reduce -3.5% | 0.07% | −0.00 |
| SLYG SS SPDR S&P 600 SC GR ETF | Reduce -5.5% | 0.05% | −0.00 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -2.3% | 0.18% | −0.00 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -1.5% | 0.04% | −0.00 |
| AB Alliancebernstein Holding LP | Reduce -3.0% | 0.06% | −0.00 |
| EFA iShares MSCI Eafe ETF | Reduce -2.6% | 0.40% | −0.00 |
| ANTERO RESOURCES CORP | Sold out | 0.00% | −0.00 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -1.7% | 0.05% | −0.00 |
| XAR SS SPDR S&P Aerospace Def | Reduce -3.7% | 0.05% | −0.00 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -1.1% | 0.10% | −0.00 |
| XLF SS Financial Select Sector | Reduce -1.8% | 0.07% | −0.00 |
| NAD Nuveen Quality Municipal Inc. | Reduce -2.9% | 0.03% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -1.3% | 0.53% | +0.00 |
| RTX RTX Corp. | Reduce -7.9% | 0.10% | +0.00 |
| IGRO iShares Intl Div Growth ETF | Reduce -1.7% | 0.07% | +0.00 |
| AVGO Broadcom Inc. | Reduce -3.1% | 0.18% | +0.00 |
| VXUS Vanguard Total Intl Stock | Reduce -0.1% | 0.13% | +0.00 |
| XLV SS Health Care Select Sector | Reduce -0.5% | 0.06% | +0.01 |
| GLD SPDR Gold Shares | Reduce -4.3% | 0.11% | +0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| FTSM First Trust Enh Short Mat FD | Add +94.1% | 2.88% | +1.38 |
| APH Amphenol Corp. Class A | New | 0.51% | +0.51 |
| JMST JPM Ultra-Short Muni Income | New | 0.45% | +0.45 |
| IDUB Aptus Intl Enhan YLD ETF | Add +3.3% | 6.79% | +0.38 |
| OCUL Ocular Therapeutix Inc. | Add +24.4% | 1.25% | +0.28 |
| ACIO Aptus Collared Invest Opp | Add +2.3% | 11.24% | +0.24 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +1.5% | 5.41% | +0.24 |
| AAPL Apple Inc. | Add +4.4% | 1.57% | +0.15 |
| DRSK Aptus Defined Risk ETF | Add +3.5% | 7.83% | +0.11 |
| DUBS Aptus LRG Cap Enh YLD ETF | Add +2.2% | 2.44% | +0.11 |
| LLY Eli Lilly & Co. | New | 0.11% | +0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.4% | 4.58% | +0.09 |
| USFR Wisdomtree Floating Rate Tre | Add +10.5% | 1.01% | +0.09 |
| RSP Invesco S&P 500 Equal Weight | Add +2.8% | 2.99% | +0.09 |
| WMT Walmart Inc. | Add +1.2% | 1.02% | +0.08 |
| ADME Aptus Drwdwn MGD Eqty ETF | Add +1.9% | 4.62% | +0.08 |
| AMZN Amazon.com Inc. | Add +1.9% | 1.23% | +0.07 |
| SHY iShares 1-3 Year Treasury Bo | Add +132.9% | 0.12% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +2.5% | 0.29% | +0.07 |
| SUB iShares Short-Term National | New | 0.07% | +0.07 |
| JPST JPMorgan Ultra-Short Income | Add +94.7% | 0.13% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +15.6% | 0.45% | +0.06 |
| GOOG Alphabet Inc. Class C | New | 0.05% | +0.05 |
| MUB iShares National Muni Bond E | New | 0.05% | +0.05 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | New | 0.05% | +0.05 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.05% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | New | 0.05% | +0.05 |
| WM Waste Management Inc. | New | 0.05% | +0.05 |
| AMAT Applied Materials Inc. | New | 0.05% | +0.05 |
| EPD Enterprise Products Partners | New | 0.05% | +0.05 |
| ACN Accenture PLC Class A | New | 0.04% | +0.04 |
| MPLX MPLX LP | New | 0.04% | +0.04 |
| DEFR Aptus Deferred Income ETF | Add +23.8% | 0.22% | +0.04 |
| SPGI S&P Global Inc. | New | 0.04% | +0.04 |
| FDX FedEx Corp. | New | 0.04% | +0.04 |
| FANG Diamondback Energy Inc. | Add +1.2% | 0.79% | +0.04 |
| V Visa Inc. Class A | Add +2.8% | 0.81% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 1.50% | +0.03 |
| JUCY Aptus Enhanced Yield ETF | Add +1.8% | 3.76% | +0.03 |
| TSLA Tesla Inc. | Add +2.1% | 1.00% | +0.02 |
| JNJ Johnson & Johnson | Add +2.2% | 0.18% | +0.02 |
| BKAG BNY Mellon Core Bond ETF | Add +3.5% | 0.83% | +0.02 |
| CAT Caterpillar Inc. | Add +2.1% | 0.11% | +0.02 |
| PWR Quanta Services Inc. | Add +1.1% | 0.82% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +15.2% | 0.13% | +0.02 |
| IYR iShares US Real Estate ETF | Add +44.3% | 0.06% | +0.02 |
| ISRG Intuitive Surgical Inc. | Add +5.1% | 0.07% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +2.6% | 0.11% | +0.02 |
| UPSD Aptus Large Cap Upside ETF | Add +3.9% | 0.40% | +0.01 |
| C Citigroup Inc. | Add +4.5% | 0.08% | +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 |