Waterloo Capital, L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Waterloo Capital, L.P. reported 454 stock positions worth $1.2 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 3.7% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 3.2%) and SS SPDR P S&P 500 Growth ETF (SPYG, 2.9%). Compared with Q1 2025, it opened 101 new positions, sold out of 36, added to 216 and reduced 120. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +66%) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −64%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001730942
- Portfolio Value
- $1.2B (Q2 2025)
- SEC Filing
- 0001104659-25-076764 ↗ filed Aug 12, 2025
Holdings Value
Holdings 454 stocks · $1.2B
| IVV iShares Core S&P 500 ETF | 3.70% | 73,758 | $45.8M | Add +16.3% |
| RSP Invesco S&P 500 Equal Weight | 3.17% | 215,796 | $39.2M | Add +20.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.90% | 376,788 | $35.9M | Add +19.2% |
| WMT Walmart Inc. | 2.83% | 358,479 | $35.1M | Add +15.6% |
| ACIO Aptus Collared Invest Opp | 2.81% | 839,594 | $34.8M | Add +8.9% |
| GBIL Goldman Sachs Access Treasur | 2.65% | 327,591 | $32.8M | Add +7.3% |
| IWD iShares Russell 1000 Value E | 2.32% | 147,756 | $28.7M | Add +2.9% |
| VEA Vanguard Ftse Developed ETF | 2.21% | 478,898 | $27.3M | Add +66.5% |
| QQQM Invesco Nasdaq 100 ETF | 2.01% | 109,651 | $24.9M | Reduce -11.9% |
| NVDA Nvidia Corp. | 1.90% | 148,496 | $23.5M | Add +23.4% |
| AAPL Apple Inc. | 1.85% | 111,860 | $23.0M | Add +3.8% |
| IEFA iShares Core MSCI Eafe ETF | 1.76% | 261,494 | $21.8M | Add +12.8% |
| MSFT Microsoft Corp. | 1.68% | 41,878 | $20.8M | Add +12.3% |
| IDUB Aptus Intl Enhan YLD ETF | 1.66% | 923,080 | $20.5M | Add +7.4% |
| DRSK Aptus Defined Risk ETF | 1.62% | 696,714 | $20.0M | Add +10.0% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.39% | 341,102 | $17.3M | Add +44.1% |
| JCPB JPMorgan Core Plus Bond ETF | 1.35% | 355,822 | $16.7M | Add +90.5% |
| OSCV Opus Small Cap Value ETF | 1.34% | 457,877 | $16.5M | Add +14.7% |
| VOO Vanguard S&P 500 ETF | 1.15% | 25,147 | $14.3M | Add +4.5% |
| IEMG iShares Core MSCI Emerging | 1.14% | 235,101 | $14.1M | Reduce -8.4% |
| AVGO Broadcom Inc. | 1.08% | 48,361 | $13.3M | Add +7.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.04% | 177,799 | $12.9M | Add +6.8% |
| SPTI SS SPDR P Int Term TSY ETF | 1.04% | 448,306 | $12.9M | Add +30.4% |
| MUB iShares National Muni Bond E | 1.02% | 120,927 | $12.6M | Add +29.2% |
| ADME Aptus Drwdwn MGD Eqty ETF | 1.01% | 259,157 | $12.5M | Add +7.0% |
| AMZN Amazon.com Inc. | 0.96% | 54,276 | $11.9M | Add +11.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.95% | 18,932 | $11.7M | Add +29.3% |
| XLF SS Financial Select Sector | 0.89% | 209,578 | $11.0M | Reduce -0.9% |
| BSV Vanguard Short-Term Bond ETF | 0.77% | 120,337 | $9.5M | Reduce -8.3% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.76% | 219,280 | $9.5M | Reduce -4.8% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.73% | 214,256 | $9.1M | Reduce -8.1% |
| META Meta Platforms Inc. Class A | 0.73% | 12,174 | $9.0M | Add +24.5% |
| SPHY SS SPDR P High Yield ETF | 0.68% | 351,799 | $8.4M | Reduce -9.1% |
| VWO Vanguard Ftse Emerging Marke | 0.68% | 169,087 | $8.4M | Add +5.3% |
| SJNK SS SPDR BB St Hi Yield ETF | 0.67% | 327,608 | $8.3M | Add +4.5% |
| PM Philip Morris International | 0.64% | 43,617 | $7.9M | Add +10.1% |
| JPIE JPMorgan Income ETF | 0.64% | 169,919 | $7.9M | Reduce -1.3% |
| UPSD Aptus Large Cap Upside ETF | 0.63% | 317,190 | $7.8M | Add +29.5% |
| DUBS Aptus LRG Cap Enh YLD ETF | 0.63% | 231,479 | $7.8M | Reduce -0.2% |
| QUAL iShares MSCI USA Quality Fac | 0.58% | 39,554 | $7.2M | Reduce -43.5% |
| EWJ iShares MSCI Japan ETF | 0.55% | 91,135 | $6.8M | Add +20.6% |
| IEF iShares 7-10 Year Treasury B | 0.53% | 68,729 | $6.6M | Add +6.8% |
| FLOT iShares Floating Rate Bond E | 0.49% | 118,331 | $6.0M | Add +2.4% |
| AGG iShares Core U.S. Aggregate | 0.49% | 60,655 | $6.0M | Reduce -64.4% |
| NFLX Netflix Inc. | 0.47% | 4,385 | $5.9M | Add +18.0% |
| JPM JPMorgan Chase & Co. | 0.47% | 20,220 | $5.9M | Add +12.7% |
| XLC SS Comm Select Sector SPDR | 0.46% | 51,984 | $5.6M | Reduce -14.6% |
| V Visa Inc. Class A | 0.43% | 15,148 | $5.4M | Add +1.8% |
| DUHP Dimensional US High Profi Et | 0.43% | 150,129 | $5.3M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.41% | 9,217 | $5.1M | Reduce -4.6% |
| WFC Wells Fargo & Co. | 0.41% | 63,398 | $5.1M | Add +4.9% |
| INDA iShares MSCI India ETF | 0.41% | 90,832 | $5.1M | New |
| ACWX iShares MSCI Acwi Ex US ETF | 0.41% | 82,834 | $5.0M | Add +62.5% |
| BX Blackstone Inc. | 0.40% | 33,361 | $5.0M | Add +1.4% |
| GOOG Alphabet Inc. Class C | 0.39% | 27,510 | $4.9M | Add +13.2% |
| MO Altria Group Inc. | 0.39% | 82,777 | $4.9M | Reduce -6.6% |
| SBRA Sabra Health Care REIT Inc. | 0.38% | 254,930 | $4.7M | Add +5.3% |
| TSLA Tesla Inc. | 0.37% | 14,485 | $4.6M | Add +13.6% |
| SCHX Schwab US Large-Cap ETF | 0.37% | 185,343 | $4.5M | Reduce -4.8% |
| IAU iShares Gold Trust | 0.36% | 71,434 | $4.5M | Add +1.7% |
| RITM Rithm Capital Corp. | 0.36% | 391,278 | $4.4M | Add +4.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 9,043 | $4.4M | Reduce -2.7% |
| DLR Digital Realty Trust Inc. | 0.35% | 24,811 | $4.3M | Add +15.6% |
| SMH Vaneck Semiconductor ETF | 0.34% | 15,178 | $4.2M | New |
| GOOGL Alphabet Inc. Class A | 0.34% | 23,971 | $4.2M | Add +11.0% |
| OHI Omega Healthcare Investors | 0.34% | 114,667 | $4.2M | Add +8.1% |
| CWEN.A Clearway Energy Inc. Class A | 0.33% | 136,378 | $4.1M | Add +2.6% |
| FSK FS KKR Capital Corp. | 0.33% | 198,588 | $4.1M | Add +5.4% |
| BXSL Blackstone Secured Lending F | 0.33% | 133,551 | $4.1M | Add +7.3% |
| INFL Horizon Kinetics Infl Benef | 0.33% | 95,399 | $4.0M | New |
| KMI Kinder Morgan Inc. | 0.32% | 136,331 | $4.0M | Add +9.2% |
| DGX Quest Diagnostics Inc. | 0.32% | 22,280 | $4.0M | Add +9.5% |
| TMUS T-Mobile US Inc. | 0.32% | 16,610 | $4.0M | Reduce -4.5% |
| DEFR Aptus Deferred Income ETF | 0.32% | 154,151 | $4.0M | New |
| JUCY Aptus Enhanced Yield ETF | 0.31% | 172,940 | $3.8M | Reduce -30.4% |
| ABBV Abbvie Inc. | 0.31% | 20,619 | $3.8M | Add +11.4% |
| SO The Southern Co. | 0.31% | 41,460 | $3.8M | Add +10.3% |
| FTCS First Trust Capital Strength | 0.30% | 40,988 | $3.7M | Reduce -3.5% |
| LNC Lincoln National Corp. | 0.30% | 107,309 | $3.7M | Reduce -0.1% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.30% | 70,901 | $3.7M | Reduce -6.5% |
| FXI iShares China Large-Cap ETF | 0.30% | 99,746 | $3.7M | Reduce -6.1% |
| KO The Coca-Cola Co. | 0.29% | 51,326 | $3.6M | Add +10.0% |
| URI United Rentals Inc. | 0.29% | 4,799 | $3.6M | Add +3.0% |
| ATO Atmos Energy Corp. | 0.29% | 22,984 | $3.5M | Add +28.4% |
| STWD Starwood Property Trust Inc. | 0.29% | 176,179 | $3.5M | Add +8.2% |
| STX Seagate Technology Holdings | 0.29% | 24,483 | $3.5M | Reduce -31.6% |
| MMM 3M Co. | 0.28% | 23,161 | $3.5M | Reduce -6.6% |
| IBIT iShares Bitcoin Trust ETF | 0.28% | 56,018 | $3.4M | New |
| SPG Simon Property Group Inc. | 0.28% | 21,244 | $3.4M | Reduce -12.0% |
| NOW ServiceNow Inc. | 0.27% | 3,281 | $3.4M | Add +48.9% |
| AM Antero Midstream Corp. | 0.27% | 177,556 | $3.4M | Add +14.0% |
| PLTR Palantir Technologies Inc. Class A | 0.26% | 23,971 | $3.3M | Add +15.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.26% | 10,557 | $3.2M | Reduce -0.8% |
| ORCL Oracle Corp. | 0.26% | 14,641 | $3.2M | Reduce -1.2% |
| ARCC Ares Capital Corp. | 0.26% | 145,085 | $3.2M | Add +0.5% |
| JNJ Johnson & Johnson | 0.26% | 20,667 | $3.2M | Reduce -7.5% |
| FITB Fifth Third Bancorp | 0.25% | 75,801 | $3.1M | Reduce -9.7% |
| PG The Procter & Gamble Co. | 0.25% | 19,557 | $3.1M | Add +3.8% |
| XOM Exxon Mobil Corp. | 0.25% | 28,773 | $3.1M | Reduce -1.1% |
| COST Costco Wholesale Corp. | 0.25% | 3,085 | $3.1M | Add +30.9% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 641 | $778K | Reduce -14.9% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 4,518 | $307K | New |
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q1 2025 → Q2 2025
| AGG iShares Core U.S. Aggregate | Reduce -64.4% | 0.49% | −1.08 |
| IWR iShares Russell Mid-Cap ETF | Reduce -96.7% | 0.02% | −0.74 |
| FEZ State Street SPDR Euro Stoxx | Sold out | 0.00% | −0.73 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -89.4% | 0.06% | −0.63 |
| XLG Invesco S&P 500 Top 50 ETF | Sold out | 0.00% | −0.60 |
| QUAL iShares MSCI USA Quality Fac | Reduce -43.5% | 0.58% | −0.53 |
| JEPQ JPM Nasdaq Equity Premium | Sold out | 0.00% | −0.44 |
| CGDV Cap Group Dividend Value | Reduce -94.0% | 0.02% | −0.36 |
| USIG iShares Broad Usd Investment | Reduce -90.8% | 0.03% | −0.29 |
| UNH Unitedhealth Group Inc. | Reduce -28.4% | 0.14% | −0.24 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Reduce -8.1% | 0.73% | −0.22 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -11.9% | 2.01% | −0.22 |
| JUCY Aptus Enhanced Yield ETF | Reduce -30.4% | 0.31% | −0.22 |
| BMY Bristol-Myers Squibb Co. | Reduce -60.5% | 0.07% | −0.21 |
| BSV Vanguard Short-Term Bond ETF | Reduce -8.3% | 0.77% | −0.19 |
| DOC Healthpeak Properties Inc. | Sold out | 0.00% | −0.18 |
| BKAG BNY Mellon Core Bond ETF | Reduce -89.5% | 0.02% | −0.17 |
| SPHY SS SPDR P High Yield ETF | Reduce -9.1% | 0.68% | −0.17 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.16 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -58.5% | 0.09% | −0.16 |
| IEMG iShares Core MSCI Emerging | Reduce -8.4% | 1.14% | −0.15 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -4.8% | 0.76% | −0.15 |
| SLG SL Green Realty Corp. | Sold out | 0.00% | −0.14 |
| OKE Oneok Inc. | Reduce -6.7% | 0.25% | −0.12 |
| HST Host Hotels & Resorts Inc. | Reduce -74.9% | 0.04% | −0.11 |
| TMUS T-Mobile US Inc. | Reduce -4.5% | 0.32% | −0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.7% | 0.36% | −0.11 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −0.11 |
| MO Altria Group Inc. | Reduce -6.6% | 0.39% | −0.10 |
| JPIE JPMorgan Income ETF | Reduce -1.3% | 0.64% | −0.10 |
| JEPI JPMorgan Equity Premium Inco | Sold out | 0.00% | −0.10 |
| SPG Simon Property Group Inc. | Reduce -12.0% | 0.28% | −0.10 |
| XLF SS Financial Select Sector | Reduce -0.9% | 0.89% | −0.09 |
| XLC SS Comm Select Sector SPDR | Reduce -14.6% | 0.46% | −0.09 |
| JNJ Johnson & Johnson | Reduce -7.5% | 0.26% | −0.09 |
| XOM Exxon Mobil Corp. | Reduce -1.1% | 0.25% | −0.07 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -6.5% | 0.30% | −0.06 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -68.7% | 0.03% | −0.06 |
| DHS Wisdomtree US High Dividend | Sold out | 0.00% | −0.06 |
| LNC Lincoln National Corp. | Reduce -0.1% | 0.30% | −0.06 |
| PEP Pepsico Inc. | Reduce -43.0% | 0.05% | −0.06 |
| FXI iShares China Large-Cap ETF | Reduce -6.1% | 0.30% | −0.06 |
| FITB Fifth Third Bancorp | Reduce -9.7% | 0.25% | −0.05 |
| MMM 3M Co. | Reduce -6.6% | 0.28% | −0.05 |
| FTCS First Trust Capital Strength | Reduce -3.5% | 0.30% | −0.05 |
| K Kellanova | Reduce -5.8% | 0.19% | −0.05 |
| PGR Progressive Corp. | Reduce -1.3% | 0.21% | −0.05 |
| GOVT iShares US Treasury Bond ETF | Reduce -32.0% | 0.07% | −0.05 |
| SYY Sysco Corp. | Reduce -55.5% | 0.03% | −0.05 |
| HTGC Hercules Capital Inc. | Reduce -0.2% | 0.22% | −0.05 |
Portfolio Buys Q1 2025 → Q2 2025
| VEA Vanguard Ftse Developed ETF | Add +66.5% | 2.21% | +0.85 |
| NVDA Nvidia Corp. | Add +23.4% | 1.90% | +0.68 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +19.2% | 2.90% | +0.54 |
| JCPB JPMorgan Core Plus Bond ETF | Add +90.5% | 1.35% | +0.54 |
| DUHP Dimensional US High Profi Et | New | 0.43% | +0.43 |
| INDA iShares MSCI India ETF | New | 0.41% | +0.41 |
| IVV iShares Core S&P 500 ETF | Add +16.3% | 3.70% | +0.39 |
| MSFT Microsoft Corp. | Add +12.3% | 1.68% | +0.38 |
| AVGO Broadcom Inc. | Add +7.0% | 1.08% | +0.37 |
| SMH Vaneck Semiconductor ETF | New | 0.34% | +0.34 |
| INFL Horizon Kinetics Infl Benef | New | 0.33% | +0.33 |
| DEFR Aptus Deferred Income ETF | New | 0.32% | +0.32 |
| WMT Walmart Inc. | Add +15.6% | 2.83% | +0.30 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Add +44.1% | 1.39% | +0.29 |
| RSP Invesco S&P 500 Equal Weight | Add +20.4% | 3.17% | +0.28 |
| IBIT iShares Bitcoin Trust ETF | New | 0.28% | +0.28 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +1005.5% | 0.24% | +0.21 |
| META Meta Platforms Inc. Class A | Add +24.5% | 0.73% | +0.20 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +29.3% | 0.95% | +0.18 |
| LDOS Leidos Holdings Inc. | New | 0.16% | +0.16 |
| FE Firstenergy Corp. | New | 0.16% | +0.16 |
| NFLX Netflix Inc. | Add +18.0% | 0.47% | +0.15 |
| IEI iShares 3-7 Year Treasury Bo | New | 0.15% | +0.15 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +62.5% | 0.41% | +0.14 |
| IEFA iShares Core MSCI Eafe ETF | Add +12.8% | 1.76% | +0.13 |
| FNF Fidelity National Financial | New | 0.13% | +0.13 |
| SPTI SS SPDR P Int Term TSY ETF | Add +30.4% | 1.04% | +0.13 |
| RF Regions Financial Corp. | New | 0.11% | +0.11 |
| NOW ServiceNow Inc. | Add +48.9% | 0.27% | +0.11 |
| UPSD Aptus Large Cap Upside ETF | Add +29.5% | 0.63% | +0.11 |
| MUB iShares National Muni Bond E | Add +29.2% | 1.02% | +0.10 |
| AMZN Amazon.com Inc. | Add +11.6% | 0.96% | +0.10 |
| PLTR Palantir Technologies Inc. Class A | Add +15.0% | 0.26% | +0.10 |
| MCD McDonald's Corp. | Add +138.4% | 0.19% | +0.09 |
| IBM Intl Business Machines Corp. | Add +62.8% | 0.20% | +0.08 |
| CEG Constellation Energy | Add +58.6% | 0.14% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.07% | +0.07 |
| EWJ iShares MSCI Japan ETF | Add +20.6% | 0.55% | +0.07 |
| GEV GE Vernova Inc. | New | 0.07% | +0.07 |
| VONG Vanguard Russell 1000 Growth | New | 0.07% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +12.7% | 0.47% | +0.06 |
| TSLA Tesla Inc. | Add +13.6% | 0.37% | +0.06 |
| DLR Digital Realty Trust Inc. | Add +15.6% | 0.35% | +0.06 |
| SHY iShares 1-3 Year Treasury Bo | New | 0.06% | +0.06 |
| PM Philip Morris International | Add +10.1% | 0.64% | +0.06 |
| COF Capital One Financial Corp. | New | 0.06% | +0.06 |
| RBLX Roblox Corp. Class A | New | 0.06% | +0.06 |
| PWR Quanta Services Inc. | Add +5.5% | 0.21% | +0.05 |
| KTOS Kratos Defense & Security | Add +23.6% | 0.13% | +0.05 |
| EFA iShares MSCI Eafe ETF | New | 0.05% | +0.05 |
Notes & Other Activity Q1 2025 → Q2 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -14.9% | 641 | $778K |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 4,518 | $307K |
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 |