Waterloo Capital, L.P.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Waterloo Capital, L.P. reported 389 stock positions worth $1.1 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 3.3% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 2.9%) and Goldman Sachs Access Treasur (GBIL, 2.8%). Compared with Q4 2024, it opened 66 new positions, sold out of 38, added to 224 and reduced 84. The biggest buy was Goldman Sachs Access Treasur (GBIL, shares +168%) and the biggest sale an exit from iShares Flex I A ETF-Usd (BINC).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001730942
- Portfolio Value
- $1.1B (Q1 2025)
- SEC Filing
- 0001104659-25-047228 ↗ filed May 12, 2025
Holdings Value
Holdings 389 stocks · $1.1B
| IVV iShares Core S&P 500 ETF | 3.32% | 63,415 | $35.6M | Add +13.4% |
| RSP Invesco S&P 500 Equal Weight | 2.89% | 179,164 | $31.0M | Add +21.3% |
| GBIL Goldman Sachs Access Treasur | 2.84% | 305,175 | $30.6M | Add +167.8% |
| ACIO Aptus Collared Invest Opp | 2.77% | 770,605 | $29.8M | Add +25.9% |
| WMT Walmart Inc. | 2.53% | 310,186 | $27.2M | Add +1.8% |
| IWD iShares Russell 1000 Value E | 2.52% | 143,645 | $27.0M | Add +12.1% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.36% | 316,116 | $25.4M | Add +6.5% |
| QQQM Invesco Nasdaq 100 ETF | 2.24% | 124,509 | $24.0M | Add +14.0% |
| AAPL Apple Inc. | 2.23% | 107,810 | $23.9M | Add +38.7% |
| IDUB Aptus Intl Enhan YLD ETF | 1.67% | 859,239 | $17.9M | Add +12.1% |
| IEFA iShares Core MSCI Eafe ETF | 1.63% | 231,859 | $17.5M | Add +39.7% |
| DRSK Aptus Defined Risk ETF | 1.61% | 633,306 | $17.3M | Add +12.5% |
| AGG iShares Core U.S. Aggregate | 1.57% | 170,452 | $16.9M | Add +6.9% |
| VEA Vanguard Ftse Developed ETF | 1.36% | 287,663 | $14.6M | Add +13.2% |
| MSFT Microsoft Corp. | 1.30% | 37,307 | $14.0M | Add +17.6% |
| OSCV Opus Small Cap Value ETF | 1.29% | 399,070 | $13.9M | Add +11.8% |
| IEMG iShares Core MSCI Emerging | 1.29% | 256,570 | $13.8M | Add +61.3% |
| NVDA Nvidia Corp. | 1.21% | 120,325 | $13.0M | Add +37.4% |
| VOO Vanguard S&P 500 ETF | 1.15% | 24,056 | $12.4M | Reduce -5.6% |
| QUAL iShares MSCI USA Quality Fac | 1.11% | 70,038 | $12.0M | Reduce -14.3% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.11% | 236,673 | $11.9M | Add +18.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.02% | 166,408 | $10.9M | Reduce -5.1% |
| ADME Aptus Drwdwn MGD Eqty ETF | 1.00% | 242,254 | $10.8M | Add +7.0% |
| XLF SS Financial Select Sector | 0.98% | 211,507 | $10.5M | Add +46.6% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.96% | 233,033 | $10.3M | Reduce -22.6% |
| BSV Vanguard Short-Term Bond ETF | 0.96% | 131,185 | $10.3M | Add +11.8% |
| MUB iShares National Muni Bond E | 0.92% | 93,606 | $9.9M | Add +39.1% |
| SPTI SS SPDR P Int Term TSY ETF | 0.91% | 343,914 | $9.8M | Add +21.3% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.91% | 230,331 | $9.8M | Add +7.1% |
| AMZN Amazon.com Inc. | 0.86% | 48,637 | $9.3M | Add +19.0% |
| SPHY SS SPDR P High Yield ETF | 0.84% | 387,172 | $9.1M | Reduce -5.3% |
| JCPB JPMorgan Core Plus Bond ETF | 0.82% | 186,804 | $8.8M | Add +79.2% |
| IWR iShares Russell Mid-Cap ETF | 0.76% | 96,429 | $8.2M | Add +3.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.76% | 14,638 | $8.2M | Reduce -15.3% |
| JPIE JPMorgan Income ETF | 0.74% | 172,101 | $7.9M | New |
| SJNK SS SPDR BB St Hi Yield ETF | 0.73% | 313,572 | $7.9M | Add +8.7% |
| FEZ State Street SPDR Euro Stoxx | 0.73% | 143,852 | $7.8M | New |
| AVGO Broadcom Inc. | 0.70% | 45,181 | $7.6M | Reduce -2.8% |
| SPLV Invesco S&P 500 Low Volatili | 0.69% | 99,909 | $7.5M | Reduce -10.3% |
| VWO Vanguard Ftse Emerging Marke | 0.68% | 160,537 | $7.3M | Add +11.6% |
| DUBS Aptus LRG Cap Enh YLD ETF | 0.67% | 231,949 | $7.2M | Reduce -28.3% |
| XLG Invesco S&P 500 Top 50 ETF | 0.60% | 140,302 | $6.5M | Reduce -6.8% |
| PM Philip Morris International | 0.59% | 39,620 | $6.3M | Add +8.4% |
| IEF iShares 7-10 Year Treasury B | 0.57% | 64,331 | $6.1M | Add +149.2% |
| FLOT iShares Floating Rate Bond E | 0.55% | 115,591 | $5.9M | Add +7.1% |
| XLC SS Comm Select Sector SPDR | 0.55% | 60,846 | $5.9M | Reduce -26.4% |
| UPSD Aptus Large Cap Upside ETF | 0.53% | 244,945 | $5.7M | New |
| JUCY Aptus Enhanced Yield ETF | 0.53% | 248,453 | $5.7M | Add +23.9% |
| META Meta Platforms Inc. Class A | 0.52% | 9,780 | $5.6M | Add +18.4% |
| MO Altria Group Inc. | 0.49% | 88,603 | $5.3M | Add +14.1% |
| V Visa Inc. Class A | 0.49% | 14,876 | $5.2M | Add +17.7% |
| EWJ iShares MSCI Japan ETF | 0.48% | 75,588 | $5.2M | Add +18.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.46% | 9,295 | $5.0M | Add +28.9% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.44% | 92,096 | $4.8M | Add +45.6% |
| TMUS T-Mobile US Inc. | 0.43% | 17,383 | $4.6M | Add +9.3% |
| BX Blackstone Inc. | 0.43% | 32,899 | $4.6M | Add +0.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.42% | 9,657 | $4.5M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 0.41% | 17,936 | $4.4M | Add +10.8% |
| WFC Wells Fargo & Co. | 0.40% | 60,437 | $4.3M | Add +7.9% |
| SCHX Schwab US Large-Cap ETF | 0.40% | 194,688 | $4.3M | Add +10.6% |
| RITM Rithm Capital Corp. | 0.40% | 374,160 | $4.3M | Add +9.7% |
| SBRA Sabra Health Care REIT Inc. | 0.39% | 242,036 | $4.2M | Add +9.7% |
| IAU iShares Gold Trust | 0.39% | 70,218 | $4.1M | Add +118.9% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.38% | 114,012 | $4.1M | Add +0.5% |
| UNH Unitedhealth Group Inc. | 0.38% | 7,725 | $4.0M | Add +3.8% |
| OHI Omega Healthcare Investors | 0.38% | 106,058 | $4.0M | Add +7.7% |
| BXSL Blackstone Secured Lending F | 0.37% | 124,484 | $4.0M | Add +10.8% |
| SPG Simon Property Group Inc. | 0.37% | 24,147 | $4.0M | Add +9.8% |
| OKE Oneok Inc. | 0.37% | 39,993 | $4.0M | Add +6.5% |
| FSK FS KKR Capital Corp. | 0.37% | 188,344 | $3.9M | Add +2.0% |
| ABBV Abbvie Inc. | 0.36% | 18,500 | $3.9M | Add +20.3% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.36% | 75,820 | $3.9M | Add +99.2% |
| LNC Lincoln National Corp. | 0.36% | 107,392 | $3.9M | Add +4.6% |
| FXI iShares China Large-Cap ETF | 0.35% | 106,225 | $3.8M | New |
| FTCS First Trust Capital Strength | 0.35% | 42,459 | $3.8M | Reduce -6.6% |
| GOOG Alphabet Inc. Class C | 0.35% | 24,304 | $3.8M | Add +1.3% |
| CWEN.A Clearway Energy Inc. Class A | 0.35% | 132,882 | $3.8M | Add +8.7% |
| JNJ Johnson & Johnson | 0.34% | 22,334 | $3.7M | Add +38.7% |
| MMM 3M Co. | 0.34% | 24,792 | $3.6M | Add +19.6% |
| KMI Kinder Morgan Inc. | 0.33% | 124,835 | $3.6M | Add +6.4% |
| NFLX Netflix Inc. | 0.32% | 3,717 | $3.5M | Reduce -3.9% |
| XOM Exxon Mobil Corp. | 0.32% | 29,092 | $3.5M | Add +43.2% |
| SO The Southern Co. | 0.32% | 37,600 | $3.5M | Add +12.5% |
| DGX Quest Diagnostics Inc. | 0.32% | 20,345 | $3.4M | Add +17.3% |
| USIG iShares Broad Usd Investment | 0.31% | 65,829 | $3.4M | Reduce -56.1% |
| KO The Coca-Cola Co. | 0.31% | 46,669 | $3.3M | Add +18.4% |
| GOOGL Alphabet Inc. Class A | 0.31% | 21,587 | $3.3M | Add +10.0% |
| TSLA Tesla Inc. | 0.31% | 12,757 | $3.3M | Add +16.1% |
| FITB Fifth Third Bancorp | 0.31% | 83,925 | $3.3M | Add +10.9% |
| STWD Starwood Property Trust Inc. | 0.30% | 162,904 | $3.2M | Add +9.4% |
| PG The Procter & Gamble Co. | 0.30% | 18,833 | $3.2M | Add +25.4% |
| ARCC Ares Capital Corp. | 0.30% | 144,314 | $3.2M | Add +4.1% |
| DLR Digital Realty Trust Inc. | 0.29% | 21,457 | $3.1M | Add +19.2% |
| BMY Bristol-Myers Squibb Co. | 0.28% | 49,947 | $3.0M | Add +63.4% |
| STX Seagate Technology Holdings | 0.28% | 35,788 | $3.0M | Add +1.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.27% | 10,646 | $2.9M | Reduce -18.5% |
| URI United Rentals Inc. | 0.27% | 4,657 | $2.9M | Add +4.9% |
| HTGC Hercules Capital Inc. | 0.27% | 151,666 | $2.9M | Add +6.1% |
| PGR Progressive Corp. | 0.26% | 9,995 | $2.8M | Add +7.2% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.26% | 50,989 | $2.8M | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $930K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 753 | $930K | Add +68.5% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q4 2024 → Q1 2025
| BINC iShares Flex I A ETF-Usd Inc. | Sold out | 0.00% | −0.53 |
| USIG iShares Broad Usd Investment | Reduce -56.1% | 0.31% | −0.48 |
| JEPI JPMorgan Equity Premium Inco | Reduce -80.4% | 0.10% | −0.48 |
| DUBS Aptus LRG Cap Enh YLD ETF | Reduce -28.3% | 0.67% | −0.44 |
| AVGO Broadcom Inc. | Reduce -2.8% | 0.70% | −0.43 |
| QUAL iShares MSCI USA Quality Fac | Reduce -14.3% | 1.11% | −0.42 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Reduce -22.6% | 0.96% | −0.41 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -15.3% | 0.76% | −0.31 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -49.4% | 0.24% | −0.30 |
| XLC SS Comm Select Sector SPDR | Reduce -26.4% | 0.55% | −0.30 |
| VOO Vanguard S&P 500 ETF | Reduce -5.6% | 1.15% | −0.30 |
| PEP Pepsico Inc. | Reduce -69.4% | 0.10% | −0.29 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -5.1% | 1.02% | −0.26 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.22 |
| XLG Invesco S&P 500 Top 50 ETF | Reduce -6.8% | 0.60% | −0.19 |
| SPHY SS SPDR P High Yield ETF | Reduce -5.3% | 0.84% | −0.17 |
| ZBRA Zebra Technologies Corp. Class A | Sold out | 0.00% | −0.14 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -10.3% | 0.69% | −0.13 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -18.5% | 0.27% | −0.13 |
| SHY iShares 1-3 Year Treasury Bo | Sold out | 0.00% | −0.12 |
| XLK SS Technology Select Sector | Reduce -31.1% | 0.12% | −0.10 |
| NOW ServiceNow Inc. | Reduce -6.4% | 0.16% | −0.10 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.09 |
| VNO Vornado Realty Trust | Reduce -10.9% | 0.20% | −0.09 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.08 |
| FTCS First Trust Capital Strength | Reduce -6.6% | 0.35% | −0.07 |
| LMT Lockheed Martin Corp. | Reduce -70.9% | 0.02% | −0.06 |
| ISRG Intuitive Surgical Inc. | Reduce -7.2% | 0.21% | −0.06 |
| KTOS Kratos Defense & Security | Reduce -41.8% | 0.08% | −0.06 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -40.3% | 0.05% | −0.05 |
| PANW Palo Alto Networks Inc. | Reduce -11.7% | 0.12% | −0.04 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -50.8% | 0.04% | −0.04 |
| NFLX Netflix Inc. | Reduce -3.9% | 0.32% | −0.04 |
| CRM Salesforce Inc. | Reduce -0.0% | 0.10% | −0.04 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.04 |
| KNTK Kinetik Holdings Inc. | Reduce -30.1% | 0.05% | −0.04 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.04 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -12.2% | 0.08% | −0.04 |
| FISV Fiserv Inc. | Reduce -55.7% | 0.03% | −0.04 |
| OUT Outfront Media Inc. | Reduce -29.4% | 0.04% | −0.04 |
| AXP American Express Co. | Reduce -46.6% | 0.03% | −0.03 |
| CLX Clorox Company | Reduce -45.2% | 0.02% | −0.03 |
| IUSG iShares Core S&P U.S. Growth | Reduce -15.6% | 0.07% | −0.03 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -28.1% | 0.06% | −0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | Sold out | 0.00% | −0.03 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.03 |
| BAB Invesco Taxable Municipal Bo | Sold out | 0.00% | −0.03 |
| TSN Tyson Foods Inc. Class A | Reduce -14.4% | 0.16% | −0.03 |
| ADBE Adobe Inc. | Reduce -25.4% | 0.04% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| GBIL Goldman Sachs Access Treasur | Add +167.8% | 2.84% | +1.64 |
| JPIE JPMorgan Income ETF | New | 0.74% | +0.74 |
| FEZ State Street SPDR Euro Stoxx | New | 0.73% | +0.73 |
| UPSD Aptus Large Cap Upside ETF | New | 0.53% | +0.53 |
| IEMG iShares Core MSCI Emerging | Add +61.3% | 1.29% | +0.41 |
| IEFA iShares Core MSCI Eafe ETF | Add +39.7% | 1.63% | +0.40 |
| FXI iShares China Large-Cap ETF | New | 0.35% | +0.35 |
| IEF iShares 7-10 Year Treasury B | Add +149.2% | 0.57% | +0.32 |
| JCPB JPMorgan Core Plus Bond ETF | Add +79.2% | 0.82% | +0.31 |
| ACWX iShares MSCI Acwi Ex US ETF | New | 0.26% | +0.26 |
| XLF SS Financial Select Sector | Add +46.6% | 0.98% | +0.24 |
| IAU iShares Gold Trust | Add +118.9% | 0.39% | +0.22 |
| ACIO Aptus Collared Invest Opp | Add +25.9% | 2.77% | +0.18 |
| AAPL Apple Inc. | Add +38.7% | 2.23% | +0.17 |
| MUB iShares National Muni Bond E | Add +39.1% | 0.92% | +0.16 |
| UBER Uber Technologies Inc. | New | 0.16% | +0.16 |
| RSP Invesco S&P 500 Equal Weight | Add +21.3% | 2.89% | +0.16 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +99.2% | 0.36% | +0.15 |
| PM Philip Morris International | Add +8.4% | 0.59% | +0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +28.9% | 0.46% | +0.12 |
| BMY Bristol-Myers Squibb Co. | Add +63.4% | 0.28% | +0.10 |
| JNJ Johnson & Johnson | Add +38.7% | 0.34% | +0.10 |
| LIN Linde PLC | Add +225.7% | 0.14% | +0.10 |
| XOM Exxon Mobil Corp. | Add +43.2% | 0.32% | +0.09 |
| TIP iShares Tips Bond ETF | Add +161.5% | 0.16% | +0.09 |
| SCHG Schwab US Large-Cap Growth | Add +114.0% | 0.21% | +0.09 |
| ENB Enbridge Inc. | New | 0.09% | +0.09 |
| SPTI SS SPDR P Int Term TSY ETF | Add +21.3% | 0.91% | +0.08 |
| BRZE Braze Inc. Class A | New | 0.08% | +0.08 |
| VEA Vanguard Ftse Developed ETF | Add +13.2% | 1.36% | +0.08 |
| ALL Allstate Corp. | New | 0.07% | +0.07 |
| GLDM SPDR Gold Minishares Trust | New | 0.07% | +0.07 |
| ABBV Abbvie Inc. | Add +20.3% | 0.36% | +0.07 |
| QCOM Qualcomm Inc. | Add +256.1% | 0.10% | +0.07 |
| SGOV iShares 0-3 Month Treasury B | New | 0.07% | +0.07 |
| JEPQ JPM Nasdaq Equity Premium | Add +45.6% | 0.44% | +0.07 |
| MO Altria Group Inc. | Add +14.1% | 0.49% | +0.07 |
| CEG Constellation Energy | New | 0.06% | +0.06 |
| V Visa Inc. Class A | Add +17.7% | 0.49% | +0.06 |
| CTAS Cintas Corp. | Add +131.8% | 0.11% | +0.06 |
| TMUS T-Mobile US Inc. | Add +9.3% | 0.43% | +0.06 |
| COR Cencora Inc. | Add +73.0% | 0.13% | +0.06 |
| DHS Wisdomtree US High Dividend | New | 0.06% | +0.06 |
| MMM 3M Co. | Add +19.6% | 0.34% | +0.06 |
| LLY Eli Lilly & Co. | Add +36.3% | 0.25% | +0.05 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Add +18.0% | 1.11% | +0.05 |
| KO The Coca-Cola Co. | Add +18.4% | 0.31% | +0.05 |
| MCD McDonald's Corp. | Add +104.0% | 0.10% | +0.05 |
| AM Antero Midstream Corp. | Add +15.6% | 0.26% | +0.05 |
| JUCY Aptus Enhanced Yield ETF | Add +23.9% | 0.53% | +0.05 |
Notes & Other Activity Q4 2024 → Q1 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +68.5% | 753 | $930K |
| LUNRW Intuitive Machines Inc.-CW | *W EXP 99/99/999 | Sold out | 59,606 | $471Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 552 | $1.8B | SPYM, WMT, SPYG, AVLV, AAPL |
| Q1 2026 | 477 | $1.4B | WMT, IVV, SPYG, FENI, ACIO |
| Q4 2025 | 453 | $1.4B | IVV, WMT, SPYG, AAPL, ACIO |
| Q3 2025 | 452 | $1.3B | IVV, SPYG, WMT, ACIO, AAPL |
| Q2 2025 | 454 | $1.2B | IVV, RSP, SPYG, WMT, ACIO |
| Q1 2025 | 389 | $1.1B | IVV, RSP, GBIL, ACIO, WMT |
| Q4 2024 | 361 | $947.9M | IVV, WMT, SPYG, RSP, ACIO |
| Q3 2024 | 352 | $915.6M | IVV, RSP, IWD, ACIO, SPYG |
| Q2 2024 | 346 | $832.8M | IVV, SPYG, BSV, IWD, QUAL |
| Q1 2024 | 360 | $782.2M | IVV, IWD, QUAL, ACIO, QQQM |