Waterloo Capital, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Waterloo Capital, L.P. reported 477 stock positions worth $1.4 billion. Its top holding was Walmart (WMT) at 4.4% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 3.7%) and SS SPDR P S&P 500 Growth ETF (SPYG, 2.4%). Compared with Q4 2025, it opened 77 new positions, sold out of 53, added to 181 and reduced 200. The biggest buy was a new position in Dim US Large Cap Value ETF (DFLV) and the biggest sale iShares Russell 1000 Value E (IWD, shares −70%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001730942
- Portfolio Value
- $1.4B (Q1 2026)
- SEC Filing
- 0001104659-26-059213 ↗ filed May 12, 2026
Holdings Value
Holdings 477 stocks · $1.4B
| WMT Walmart Inc. | 4.43% | 507,239 | $63.0M | Add +16.7% |
| IVV iShares Core S&P 500 ETF | 3.68% | 80,219 | $52.4M | Add +1.9% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.42% | 351,013 | $34.4M | Reduce -11.1% |
| FENI Fidelity Enhanced Intl ETF | 2.30% | 878,848 | $32.7M | Add +29.0% |
| ACIO Aptus Collared Invest Opp | 2.25% | 762,012 | $32.0M | Add +0.3% |
| AAPL Apple Inc. | 2.20% | 123,320 | $31.3M | Reduce -11.7% |
| DFLV Dim US Large Cap Value ETF | 2.12% | 843,190 | $30.1M | New |
| NVDA Nvidia Corp. | 2.06% | 168,374 | $29.4M | Reduce -1.2% |
| RSP Invesco S&P 500 Equal Weight | 2.05% | 151,987 | $29.2M | Add +1.4% |
| QQQM Invesco Nasdaq 100 ETF | 1.85% | 110,646 | $26.3M | Reduce -12.9% |
| IDUB Aptus Intl Enhan YLD ETF | 1.69% | 973,021 | $24.0M | Reduce -0.4% |
| GBIL Goldman Sachs Access Treasur | 1.63% | 231,921 | $23.2M | Add +20.3% |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.60% | 289,177 | $22.7M | Add +247.1% |
| JCPB JPMorgan Core Plus Bond ETF | 1.49% | 449,902 | $21.2M | Reduce -0.5% |
| DRSK Aptus Defined Risk ETF | 1.38% | 718,009 | $19.6M | Add +5.7% |
| VOO Vanguard S&P 500 ETF | 1.36% | 32,396 | $19.4M | Add +1.0% |
| VEA Vanguard Ftse Developed ETF | 1.34% | 298,169 | $19.1M | Reduce -1.7% |
| OSCV Opus Small Cap Value ETF | 1.29% | 463,754 | $18.3M | Reduce -1.0% |
| MSFT Microsoft Corp. | 1.11% | 42,638 | $15.8M | Reduce -6.8% |
| MUB iShares National Muni Bond E | 1.03% | 137,938 | $14.6M | Reduce -0.3% |
| AVGO Broadcom Inc. | 1.00% | 46,117 | $14.3M | Reduce -4.7% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.98% | 181,838 | $13.9M | Reduce -6.3% |
| BSV Vanguard Short-Term Bond ETF | 0.91% | 165,432 | $13.0M | Add +74.5% |
| ADME Aptus Drwdwn MGD Eqty ETF | 0.90% | 258,743 | $12.8M | Reduce -1.6% |
| SMH Vaneck Semiconductor ETF | 0.88% | 32,797 | $12.6M | Add +68.8% |
| AMZN Amazon.com Inc. | 0.88% | 60,024 | $12.5M | Add +1.1% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 0.86% | 241,981 | $12.2M | Add +16.9% |
| JPIE JPMorgan Income ETF | 0.78% | 239,785 | $11.0M | Add +29.5% |
| SPTI SS SPDR P Int Term TSY ETF | 0.78% | 385,062 | $11.0M | Add +6.9% |
| SPLV Invesco S&P 500 Low Volatili | 0.75% | 146,450 | $10.7M | Add +938.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.74% | 115,508 | $10.6M | Add +1432.1% |
| UPSD Aptus Large Cap Upside ETF | 0.73% | 405,018 | $10.3M | Reduce -0.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.72% | 15,829 | $10.3M | Reduce -4.5% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.72% | 241,652 | $10.2M | Reduce -8.2% |
| GOOG Alphabet Inc. Class C | 0.69% | 34,103 | $9.8M | Reduce -9.7% |
| GOOGL Alphabet Inc. Class A | 0.68% | 33,857 | $9.7M | Add +24.5% |
| IAU iShares Gold Trust | 0.68% | 109,094 | $9.6M | Add +26.6% |
| IWD iShares Russell 1000 Value E | 0.67% | 44,912 | $9.6M | Reduce -70.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.66% | 104,499 | $9.5M | Reduce -11.1% |
| VWO Vanguard Ftse Emerging Marke | 0.65% | 172,320 | $9.3M | Reduce -1.1% |
| AGG iShares Core U.S. Aggregate | 0.62% | 88,921 | $8.8M | Add +42.7% |
| SJNK SS SPDR BB St Hi Yield ETF | 0.60% | 340,418 | $8.5M | Reduce -10.4% |
| XLI SS Industrial Select Sector | 0.59% | 51,754 | $8.4M | Add +1001.6% |
| IEF iShares 7-10 Year Treasury B | 0.57% | 84,744 | $8.1M | Reduce -38.0% |
| DUBS Aptus LRG Cap Enh YLD ETF | 0.55% | 216,432 | $7.8M | Add +0.8% |
| EWJ iShares MSCI Japan ETF | 0.54% | 91,065 | $7.7M | Add +1.2% |
| BKGI BNY Mellon GLBL Infra Inc. | 0.53% | 168,663 | $7.5M | Add +147.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.51% | 67,015 | $7.3M | Add +17.0% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.50% | 156,327 | $7.1M | Add +4.9% |
| PM Philip Morris International | 0.48% | 41,374 | $6.8M | Reduce -1.9% |
| SGOV iShares 0-3 Month Treasury B | 0.48% | 67,543 | $6.8M | Add +451.8% |
| SPHY SS SPDR P High Yield ETF | 0.47% | 289,286 | $6.7M | Reduce -29.8% |
| TSLA Tesla Inc. | 0.44% | 16,753 | $6.2M | Reduce -2.2% |
| MO Altria Group Inc. | 0.43% | 93,629 | $6.2M | Add +7.5% |
| OHI Omega Healthcare Investors | 0.43% | 140,304 | $6.1M | Add +6.7% |
| IEMG iShares Core MSCI Emerging | 0.43% | 86,966 | $6.1M | Reduce -68.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.42% | 10,392 | $6.0M | Add +5.9% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.42% | 87,100 | $6.0M | Reduce -1.6% |
| META Meta Platforms Inc. Class A | 0.41% | 10,250 | $5.9M | Reduce -6.0% |
| XOM Exxon Mobil Corp. | 0.41% | 34,170 | $5.8M | Reduce -4.2% |
| CWEN.A Clearway Energy Inc. Class A | 0.41% | 147,151 | $5.8M | Add +1.1% |
| JNJ Johnson & Johnson | 0.40% | 23,463 | $5.7M | Reduce -0.7% |
| SBRA Sabra Health Care REIT Inc. | 0.40% | 297,136 | $5.7M | Add +12.4% |
| JPM JPMorgan Chase & Co. | 0.39% | 18,850 | $5.5M | Add +0.3% |
| ATO Atmos Energy Corp. | 0.37% | 28,594 | $5.3M | Reduce -0.6% |
| SPG Simon Property Group Inc. | 0.37% | 28,237 | $5.3M | Add +23.7% |
| INFL Horizon Kinetics Infl Benef | 0.36% | 97,940 | $5.1M | Reduce -2.1% |
| STX Seagate Technology Holdings | 0.35% | 12,891 | $5.1M | Reduce -38.5% |
| WFC Wells Fargo & Co. | 0.35% | 62,561 | $5.0M | Reduce -7.3% |
| DGX Quest Diagnostics Inc. | 0.34% | 24,819 | $4.9M | Reduce -5.7% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.33% | 83,313 | $4.7M | Reduce -0.2% |
| KMI Kinder Morgan Inc. | 0.33% | 140,012 | $4.7M | Reduce -0.6% |
| GBDC Golub Capital BDC Inc. | 0.33% | 370,410 | $4.7M | Add +145.3% |
| V Visa Inc. Class A | 0.33% | 15,470 | $4.7M | Reduce -4.4% |
| ABBV Abbvie Inc. | 0.32% | 21,054 | $4.6M | Reduce -6.1% |
| AM Antero Midstream Corp. | 0.32% | 197,654 | $4.5M | Add +1.6% |
| SO The Southern Co. | 0.31% | 45,995 | $4.4M | Add +5.1% |
| SCHX Schwab US Large-Cap ETF | 0.30% | 167,463 | $4.3M | Reduce -5.3% |
| DEFR Aptus Deferred Income ETF | 0.30% | 161,399 | $4.3M | Add +1.0% |
| JUCY Aptus Enhanced Yield ETF | 0.30% | 189,835 | $4.2M | Add +24.1% |
| PPA Invesco Aerospace & Defense | 0.29% | 25,310 | $4.2M | New |
| KO The Coca-Cola Co. | 0.29% | 54,537 | $4.1M | Reduce -1.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 8,624 | $4.1M | Reduce -14.7% |
| PLTR Palantir Technologies Inc. Class A | 0.28% | 27,474 | $4.0M | Add +5.2% |
| CTA Simplify Managed Futures St | 0.27% | 129,051 | $3.9M | New |
| RITM Rithm Capital Corp. | 0.27% | 406,236 | $3.9M | Add +1.2% |
| TNL Travel + Leisure Co. | 0.27% | 55,433 | $3.8M | Add +1.6% |
| PWR Quanta Services Inc. | 0.27% | 6,901 | $3.8M | Reduce -4.8% |
| OKE Oneok Inc. | 0.26% | 41,193 | $3.7M | Add +30.8% |
| NFLX Netflix Inc. | 0.25% | 37,560 | $3.6M | Reduce -1.3% |
| CSNR C&S Nat Resources Active ETF | 0.25% | 95,380 | $3.6M | New |
| FTCS First Trust Capital Strength | 0.25% | 37,975 | $3.5M | Reduce -0.2% |
| FITB Fifth Third Bancorp | 0.25% | 75,749 | $3.5M | Reduce -0.1% |
| MMM 3M Co. | 0.25% | 24,096 | $3.5M | Reduce -1.6% |
| LNC Lincoln National Corp. | 0.24% | 97,764 | $3.5M | Add +0.6% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.24% | 23,730 | $3.4M | Add +682.1% |
| LLY Eli Lilly & Co. | 0.24% | 3,663 | $3.4M | Reduce -11.9% |
| STWD Starwood Property Trust Inc. | 0.24% | 195,300 | $3.4M | Add +1.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.24% | 10,436 | $3.3M | Add +1.5% |
| MRK Merck & Co. Inc. | 0.23% | 27,070 | $3.3M | Add +2.7% |
Options reported separately and not counted above: SPDR GOLD TR calls ($215K), HIGHPEAK ENERGY INC calls ($155K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $899K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 498 | $593K | Add +0.6% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 4,710 | $306K | Add +10.9% |
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q4 2025 → Q1 2026
| IWD iShares Russell 1000 Value E | Reduce -70.4% | 0.67% | −1.63 |
| IEMG iShares Core MSCI Emerging | Reduce -68.3% | 0.43% | −0.90 |
| XLF SS Financial Select Sector | Reduce -73.3% | 0.22% | −0.72 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -11.1% | 2.42% | −0.63 |
| AAPL Apple Inc. | Reduce -11.7% | 2.20% | −0.54 |
| MSFT Microsoft Corp. | Reduce -6.8% | 1.11% | −0.49 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -12.9% | 1.85% | −0.47 |
| IEF iShares 7-10 Year Treasury B | Reduce -38.0% | 0.57% | −0.38 |
| XLC SS Comm Select Sector SPDR | Reduce -64.6% | 0.15% | −0.30 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.30 |
| QUAL iShares MSCI USA Quality Fac | Reduce -55.2% | 0.20% | −0.27 |
| VTWO Vanguard Russell 2000 ETF | Sold out | 0.00% | −0.27 |
| BXSL Blackstone Secured Lending F | Reduce -91.6% | 0.02% | −0.25 |
| NVDA Nvidia Corp. | Reduce -1.2% | 2.06% | −0.23 |
| SPHY SS SPDR P High Yield ETF | Reduce -29.8% | 0.47% | −0.23 |
| URI United Rentals Inc. | Reduce -76.9% | 0.06% | −0.22 |
| EMLC Vaneck JPM Em Local Curr BND | Reduce -51.1% | 0.19% | −0.22 |
| AVGO Broadcom Inc. | Reduce -4.7% | 1.00% | −0.21 |
| BX Blackstone Inc. | Reduce -37.4% | 0.15% | −0.18 |
| GOOG Alphabet Inc. Class C | Reduce -9.7% | 0.69% | −0.17 |
| RF Regions Financial Corp. | Reduce -60.4% | 0.10% | −0.17 |
| WINN Harbor Long-Term Growers ETF | Sold out | 0.00% | −0.15 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -6.3% | 0.98% | −0.15 |
| VNO Vornado Realty Trust | Sold out | 0.00% | −0.14 |
| QCOM Qualcomm Inc. | Reduce -74.9% | 0.03% | −0.12 |
| TSLA Tesla Inc. | Reduce -2.2% | 0.44% | −0.12 |
| NOW ServiceNow Inc. | Reduce -28.0% | 0.11% | −0.12 |
| ISRG Intuitive Surgical Inc. | Reduce -51.8% | 0.07% | −0.11 |
| META Meta Platforms Inc. Class A | Reduce -6.0% | 0.41% | −0.11 |
| WFC Wells Fargo & Co. | Reduce -7.3% | 0.35% | −0.10 |
| BAC Bank of America Corp. | Reduce -20.9% | 0.21% | −0.10 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -10.4% | 0.60% | −0.10 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -8.2% | 0.72% | −0.10 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -11.1% | 0.66% | −0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.5% | 0.72% | −0.09 |
| AOR iShares Core 60/40 Balanced | Sold out | 0.00% | −0.09 |
| AOA iShares Core 80/20 Aggressiv | Reduce -84.8% | 0.01% | −0.09 |
| LLY Eli Lilly & Co. | Reduce -11.9% | 0.24% | −0.09 |
| V Visa Inc. Class A | Reduce -4.4% | 0.33% | −0.08 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Sold out | 0.00% | −0.08 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -14.7% | 0.29% | −0.08 |
| ADME Aptus Drwdwn MGD Eqty ETF | Reduce -1.6% | 0.90% | −0.08 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.07 |
| VLTO Veralto Corp. | Sold out | 0.00% | −0.07 |
| IBM Intl Business Machines Corp. | Reduce -22.1% | 0.12% | −0.07 |
| IWV iShares Russell 3000 ETF | Sold out | 0.00% | −0.07 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -77.1% | 0.02% | −0.07 |
| SPGI S&P Global Inc. | Reduce -15.0% | 0.14% | −0.07 |
| UPSD Aptus Large Cap Upside ETF | Reduce -0.7% | 0.73% | −0.06 |
Portfolio Buys Q4 2025 → Q1 2026
| DFLV Dim US Large Cap Value ETF | New | 2.12% | +2.12 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +247.1% | 1.60% | +1.16 |
| WMT Walmart Inc. | Add +16.7% | 4.43% | +0.93 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +1432.1% | 0.74% | +0.69 |
| SPLV Invesco S&P 500 Low Volatili | Add +938.3% | 0.75% | +0.68 |
| XLI SS Industrial Select Sector | Add +1001.6% | 0.59% | +0.54 |
| FENI Fidelity Enhanced Intl ETF | Add +29.0% | 2.30% | +0.50 |
| SGOV iShares 0-3 Month Treasury B | Add +451.8% | 0.48% | +0.39 |
| SMH Vaneck Semiconductor ETF | Add +68.8% | 0.88% | +0.38 |
| BSV Vanguard Short-Term Bond ETF | Add +74.5% | 0.91% | +0.37 |
| BKGI BNY Mellon GLBL Infra Inc. | Add +147.7% | 0.53% | +0.33 |
| PPA Invesco Aerospace & Defense | New | 0.29% | +0.29 |
| CTA Simplify Managed Futures St | New | 0.27% | +0.27 |
| CSNR C&S Nat Resources Active ETF | New | 0.25% | +0.25 |
| GBIL Goldman Sachs Access Treasur | Add +20.3% | 1.63% | +0.24 |
| BOXX Alpha Architect 1-3 MNTH Box | New | 0.22% | +0.22 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Add +682.1% | 0.24% | +0.21 |
| LYB Lyondellbasell Indu Class A | New | 0.20% | +0.20 |
| GBDC Golub Capital BDC Inc. | Add +145.3% | 0.33% | +0.18 |
| VICI Vici Properties Inc. | New | 0.17% | +0.17 |
| IAU iShares Gold Trust | Add +26.6% | 0.68% | +0.17 |
| AGG iShares Core U.S. Aggregate | Add +42.7% | 0.62% | +0.17 |
| JPIE JPMorgan Income ETF | Add +29.5% | 0.78% | +0.16 |
| GDX Vaneck Gold Miners ETF | New | 0.14% | +0.14 |
| BTC Grayscale Bitcoin Mini ETF | New | 0.12% | +0.12 |
| RAAX Vaneck Real Assets ETF | New | 0.11% | +0.11 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Add +16.9% | 0.86% | +0.10 |
| OKE Oneok Inc. | Add +30.8% | 0.26% | +0.09 |
| OUNZ Vaneck Merk Gold ETF | New | 0.09% | +0.09 |
| WLFC Willis Lease Finance Corp. | New | 0.09% | +0.09 |
| JBL Jabil Inc. | New | 0.09% | +0.09 |
| LNG Cheniere Energy Inc. | New | 0.08% | +0.08 |
| CW Curtiss-Wright Corp. | New | 0.08% | +0.08 |
| VEU Vanguard Ftse All-World Ex-U | Add +105.7% | 0.15% | +0.08 |
| CWEN.A Clearway Energy Inc. Class A | Add +1.1% | 0.41% | +0.07 |
| GLD SPDR Gold Shares | Add +65.5% | 0.17% | +0.07 |
| MO Altria Group Inc. | Add +7.5% | 0.43% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +24.5% | 0.68% | +0.07 |
| CASY Casey's General Stores Inc. | Add +16.6% | 0.21% | +0.07 |
| AM Antero Midstream Corp. | Add +1.6% | 0.32% | +0.07 |
| FANG Diamondback Energy Inc. | Add +14.3% | 0.21% | +0.07 |
| SPG Simon Property Group Inc. | Add +23.7% | 0.37% | +0.07 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +40.9% | 0.19% | +0.06 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +17.0% | 0.51% | +0.06 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.06% | +0.06 |
| PEP Pepsico Inc. | Add +57.0% | 0.14% | +0.06 |
| CRS Carpenter Technology | New | 0.05% | +0.05 |
| XLE SS Energy Select Sector | New | 0.05% | +0.05 |
| CVX Chevron Corp. | Add +17.0% | 0.15% | +0.05 |
| USCI United States Commodity Inde | New | 0.05% | +0.05 |
Options Activity Q4 2025 → Q1 2026
| ISHARES TR | put | Sold out | 13,700 | $3.4Mbefore exit |
| SPDR GOLD TR | call | New | 500 | $215K |
| HIGHPEAK ENERGY INC | call | New | 22,500 | $155K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +0.6% | 498 | $593K |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +10.9% | 4,710 | $306K |
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 |