Q3 2025 · 13F-HR
Second Line Capital, LLCholdings as filed
Filed 2025-11-19 · accession 0001992879-25-000005
$483.1M
Reported value
160
Positions
2025-09-30
Period end
The Brief · Second Line Capital, LLC · Q3 2025
AI · grounded in 13F
Second Line Capital, LLC established a new position in FTSM valued at $7.24M. The fund also opened new stakes in CRWV for $5.37M and USFR for $4.42M. On the sell side, the fund closed its position in CLS, reducing its holdings by $3.73M, and exited DECK for $1.96M. Other notable reductions include trimming shares of AMD by 88.45% and UNH by 84.14%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 26922A222 | ACIO | ETF SER SOLUTIONS | $53.1M | 11.0% | 1,223,225 | Common | NONE |
| 26922A388 | DRSK | ETF SER SOLUTIONS | $37.3M | 7.72% | 1,293,643 | Common | NONE |
| 26922B709 | IDUB | ETF SER SOLUTIONS | $30.9M | 6.41% | 1,314,211 | Common | NONE |
| 78463X889 | SPDW | SPDR INDEX SHS FDS | $25.0M | 5.17% | 583,398 | Common | NONE |
| 26922A784 | ADME | ETF SER SOLUTIONS | $22.0M | 4.54% | 429,923 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $21.7M | 4.49% | 32,469 | Common | NONE |
| 26922A446 | OSCV | ETF SER SOLUTIONS | $21.6M | 4.47% | 565,417 | Common | NONE |
| 26922B642 | JUCY | ETF SER SOLUTIONS | $18.1M | 3.74% | 810,496 | Common | NONE |
| 03831W108 | APP | APPLOVIN CORP | $15.0M | 3.10% | 20,813 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $14.0M | 2.90% | 73,936 | Common | NONE |
| 26922B535 | DUBS | ETF SER SOLUTIONS | $11.3M | 2.33% | 308,587 | Common | NONE |
| 78463X509 | SPEM | SPDR INDEX SHS FDS | $11.0M | 2.28% | 235,333 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $9.0M | 1.87% | 17,421 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $8.8M | 1.81% | 46,973 | Common | NONE |
| 33739Q408 | FTSM | FIRST TR EXCHANGE-TRADED FD | $7.2M | 1.50% | 120,501 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $7.1M | 1.47% | 22,537 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $6.9M | 1.42% | 26,962 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $5.6M | 1.15% | 25,359 | Common | NONE |
| 21873S108 | CRWV | COREWEAVE INC | $5.4M | 1.11% | 39,218 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $5.3M | 1.09% | 7,197 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $4.9M | 1.01% | 43,433 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $4.7M | 0.98% | 10,649 | Common | NONE |
| 67576A100 | OCUL | OCULAR THERAPEUTIX INC | $4.7M | 0.97% | 402,467 | Common | SOLE |
| 565788106 | MARA | MARA HOLDINGS INC | $4.5M | 0.94% | 248,996 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $4.5M | 0.93% | 43,826 | Common | NONE |
| 97717Y527 | USFR | WISDOMTREE TR | $4.4M | 0.92% | 87,944 | Common | NONE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDI | $4.3M | 0.89% | 29,413 | Common | SOLE |
| 09661T602 | BKAG | BNY MELLON ETF TRUST | $3.9M | 0.81% | 91,816 | Common | NONE |
| 573874104 | MRVL | MARVELL TECHNOLOGY INC | $3.9M | 0.81% | 46,304 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $3.9M | 0.80% | 9,380 | Common | NONE |
| 437076102 | HD | HOME DEPOT INC | $3.8M | 0.78% | 9,349 | Common | NONE |
| 92826C839 | V | VISA INC | $3.8M | 0.78% | 11,000 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEW | $3.7M | 0.76% | 23,628 | Common | SOLE |
| 92537N108 | VRT | VERTIV HOLDINGS CO | $3.6M | 0.75% | 24,118 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $3.6M | 0.75% | 25,405 | Common | NONE |
| 11133T103 | BR | BROADRIDGE FINL SOLUTIONS IN | $3.5M | 0.72% | 14,487 | Common | NONE |
| 743315103 | PGR | PROGRESSIVE CORP | $3.4M | 0.70% | 13,655 | Common | NONE |
| 16359R103 | CHE | CHEMED CORP NEW | $3.2M | 0.66% | 7,090 | Common | NONE |
| 217204106 | CPRT | COPART INC | $3.1M | 0.65% | 69,572 | Common | NONE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $3.1M | 0.63% | 15,806 | Common | NONE |
| 776696106 | ROP | ROPER TECHNOLOGIES INC | $3.1M | 0.63% | 6,132 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $3.1M | 0.63% | 3,315 | Common | NONE |
| 922908363 | VOO | VANGUARD INDEX FDS | $2.6M | 0.53% | 4,185 | Common | NONE |
| 464287804 | IJR | ISHARES TR | $2.2M | 0.46% | 18,834 | Common | NONE |
| 464287507 | IJH | ISHARES TR | $2.2M | 0.46% | 33,925 | Common | NONE |
| 464287465 | EFA | ISHARES TR | $1.9M | 0.40% | 20,794 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.9M | 0.40% | 3,803 | Common | NONE |
| 26922B444 | UPSD | ETF SER SOLUTIONS | $1.9M | 0.39% | 70,484 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $1.8M | 0.36% | 2,619 | Common | NONE |
| 35953D104 | FUBOGBP | FUBOTV INC | $1.7M | 0.34% | 397,612 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $1.5M | 0.31% | 2,464 | Common | NONE |
| 04010L103 | ARCC | ARES CAPITAL CORP | $1.4M | 0.28% | 67,008 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $1.3M | 0.28% | 4,779 | Common | NONE |
| 548661107 | LOW | LOWES COS INC | $1.2M | 0.25% | 4,713 | Common | NONE |
| 45826J105 | NTLA | INTELLIA THERAPEUTICS INC | $1.1M | 0.23% | 63,027 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $1.1M | 0.22% | 4,417 | Common | NONE |
| 842587107 | SO | SOUTHERN CO | $1.0M | 0.22% | 10,977 | Common | NONE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $981,674 | 0.20% | 6,389 | Common | NONE |
| 00206R102 | T | AT&T INC | $897,357 | 0.19% | 31,776 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $868,785 | 0.18% | 2,633 | Common | NONE |
| 78464A847 | SPMD | SPDR SERIES TRUST | $866,909 | 0.18% | 15,158 | Common | NONE |
| 26922B451 | DEFR | ETF SER SOLUTIONS | $842,870 | 0.17% | 32,097 | Common | SOLE |
| 50208A102 | XSCDX | LMP CAP & INCOME FD INC | $842,553 | 0.17% | 53,700 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $771,820 | 0.16% | 4,163 | Common | NONE |
| 053332102 | AZO | AUTOZONE INC | $656,407 | 0.14% | 153 | Common | SOLE |
| 921909768 | VXUS | VANGUARD STAR FDS | $625,153 | 0.13% | 8,510 | Common | SOLE |
| 191216100 | KO | COCA COLA CO | $623,506 | 0.13% | 9,330 | Common | SOLE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $622,112 | 0.13% | 2,871 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $613,720 | 0.13% | 11,896 | Common | NONE |
| 41013T105 | PDT | HANCOCK JOHN PREM DIVID FD | $577,280 | 0.12% | 43,274 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $543,816 | 0.11% | 5,749 | Common | NONE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $537,456 | 0.11% | 1,096 | Common | NONE |
| 29273V100 | ET | ENERGY TRANSFER L P | $531,302 | 0.11% | 30,962 | Common | SOLE |
| 922908736 | VUG | VANGUARD INDEX FDS | $525,476 | 0.11% | 1,096 | Common | NONE |
| 02209S103 | MO | ALTRIA GROUP INC | $517,705 | 0.11% | 7,713 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TR | $511,166 | 0.11% | 1,438 | Common | NONE |
| 58933Y105 | MRK | MERCK & CO INC | $487,294 | 0.10% | 5,749 | Common | NONE |
| 75513E101 | RTX | RTX CORPORATION | $480,669 | 0.10% | 2,873 | Common | SOLE |
| 78468R853 | SPSM | SPDR SERIES TRUST | $477,622 | 0.10% | 10,311 | Common | NONE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLC | $458,289 | 0.09% | 1,086 | Common | NONE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $450,123 | 0.09% | 15,900 | Common | SOLE |
| 92204A702 | VGT | VANGUARD WORLD FD | $440,512 | 0.09% | 590 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $438,978 | 0.09% | 920 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $436,784 | 0.09% | 1,548 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INC | $436,679 | 0.09% | 1,115 | Common | NONE |
| 718546104 | PSX | PHILLIPS 66 | $426,287 | 0.09% | 3,134 | Common | SOLE |
| 808524797 | SCHD | SCHWAB STRATEGIC TR | $421,539 | 0.09% | 15,441 | Common | NONE |
| 055622104 | BP | BP PLC | $407,061 | 0.08% | 11,813 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $391,410 | 0.08% | 1,288 | Common | NONE |
| 194162103 | CL | COLGATE PALMOLIVE CO | $381,314 | 0.08% | 4,770 | Common | NONE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $380,368 | 0.08% | 2,351 | Common | NONE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $373,122 | 0.08% | 8,490 | Common | SOLE |
| 03674X106 | AR | ANTERO RESOURCES CORP | $373,120 | 0.08% | 11,118 | Common | SOLE |
| 922908769 | VTI | VANGUARD INDEX FDS | $371,528 | 0.08% | 1,129 | Common | NONE |
| 78468R804 | LGLV | SPDR SERIES TRUST | $370,446 | 0.08% | 2,079 | Common | NONE |
| 46435G524 | IGRO | ISHARES TR | $343,829 | 0.07% | 4,316 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $343,229 | 0.07% | 994 | Common | NONE |
| G54950103 | LIN | LINDE PLC | $341,477 | 0.07% | 719 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $341,273 | 0.07% | 1,133 | Common | NONE |
| 33738R704 | AIRR | FIRST TR EXCHANGE TRADED FD | $339,927 | 0.07% | 3,516 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $337,585 | 0.07% | 1,458 | Common | NONE |
| 172967424 | C | CITIGROUP INC | $332,927 | 0.07% | 3,280 | Common | SOLE |
| 74460D109 | PSA | PUBLIC STORAGE OPER CO | $330,156 | 0.07% | 1,143 | Common | SOLE |
| 46641Q837 | JPST | J P MORGAN EXCHANGE TRADED F | $327,837 | 0.07% | 6,462 | Common | NONE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $326,919 | 0.07% | 6,069 | Common | NONE |
| 46435G326 | IDEV | ISHARES TR | $325,295 | 0.07% | 4,058 | Common | NONE |
| 01881G106 | AB | ALLIANCEBERNSTEIN HLDG L P | $322,036 | 0.07% | 8,426 | Common | SOLE |
| 773903109 | ROK | ROCKWELL AUTOMATION INC | $320,169 | 0.07% | 916 | Common | SOLE |
| 620076307 | MSI | MOTOROLA SOLUTIONS INC | $317,444 | 0.07% | 692 | Common | NONE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $310,944 | 0.06% | 1,103 | Common | NONE |
| 49714P108 | KNSL | KINSALE CAP GROUP INC | $307,463 | 0.06% | 723 | Common | NONE |
| 002824100 | ABT | ABBOTT LABS | $304,207 | 0.06% | 2,271 | Common | NONE |
| 302635206 | FSK | FS KKR CAP CORP | $304,013 | 0.06% | 19,451 | Common | SOLE |
| 03676B102 | AM | ANTERO MIDSTREAM CORP | $298,987 | 0.06% | 15,380 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $298,616 | 0.06% | 2,608 | Common | NONE |
| 09260D107 | BX | BLACKSTONE INC | $288,907 | 0.06% | 1,691 | Common | SOLE |
| 33738R100 | MDIV | FIRST TR EXCHANGE TRADED FD | $285,592 | 0.06% | 17,805 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $284,144 | 0.06% | 237 | Common | NONE |
| 040413205 | ANET | ARISTA NETWORKS INC | $278,598 | 0.06% | 1,912 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $275,590 | 0.06% | 2,813 | Common | NONE |
| 969457100 | WMB | WILLIAMS COS INC | $274,961 | 0.06% | 4,340 | Common | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $270,027 | 0.06% | 1,940 | Common | NONE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $264,502 | 0.05% | 1,299 | Common | NONE |
| 020002101 | ALL | ALLSTATE CORP | $262,539 | 0.05% | 1,217 | Common | SOLE |
| 78468R663 | BIL | SPDR SERIES TRUST | $262,190 | 0.05% | 2,858 | Common | NONE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $262,077 | 0.05% | 586 | Common | NONE |
| 78464A201 | SLYG | SPDR SERIES TRUST | $260,879 | 0.05% | 2,766 | Common | NONE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $260,012 | 0.05% | 3,444 | Common | NONE |
| 921946406 | VYM | VANGUARD WHITEHALL FDS | $259,765 | 0.05% | 1,843 | Common | NONE |
| 464287457 | SHY | ISHARES TR | $257,923 | 0.05% | 3,109 | Common | NONE |
| 745867101 | PHM | PULTE GROUP INC | $255,652 | 0.05% | 1,932 | Common | NONE |
| 17275R102 | CSCO | CISCO SYS INC | $254,993 | 0.05% | 3,727 | Common | SOLE |
| 78464A631 | XAR | SPDR SERIES TRUST | $254,358 | 0.05% | 1,083 | Common | NONE |
| 92939U106 | WEC | WEC ENERGY GROUP INC | $250,608 | 0.05% | 2,187 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $245,720 | 0.05% | 1,347 | Common | NONE |
| 438516106 | HON | HONEYWELL INTL INC | $242,748 | 0.05% | 1,153 | Common | NONE |
| 049560105 | ATO | ATMOS ENERGY CORP | $239,562 | 0.05% | 1,403 | Common | NONE |
| 097023105 | BA | BOEING CO | $236,981 | 0.05% | 1,098 | Common | SOLE |
| 78464A508 | SPYV | SPDR SERIES TRUST | $235,374 | 0.05% | 4,254 | Common | SOLE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $234,625 | 0.05% | 2,245 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $228,730 | 0.05% | 1,410 | Common | NONE |
| 25179M103 | DVN | DEVON ENERGY CORP NEW | $227,733 | 0.05% | 6,496 | Common | NONE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $227,167 | 0.05% | 2,605 | Common | NONE |
| 92203J407 | BNDX | VANGUARD CHARLOTTE FDS | $221,482 | 0.05% | 4,478 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $221,262 | 0.05% | 914 | Common | NONE |
| 464287739 | IYR | ISHARES TR | $220,626 | 0.05% | 2,273 | Common | NONE |
| 146280508 | SILA | SILA REALTY TRUST INC | $218,495 | 0.05% | 8,705 | Common | NONE |
| 112830104 | RA | BROOKFIELD REAL ASSETS INCOM | $212,492 | 0.04% | 15,905 | Common | SOLE |
| 863667101 | SYK | STRYKER CORPORATION | $209,815 | 0.04% | 566 | Common | NONE |
| 46434V621 | DGRO | ISHARES TR | $207,576 | 0.04% | 3,049 | Common | SOLE |
| 969904101 | WSM | WILLIAMS SONOMA INC | $206,591 | 0.04% | 1,057 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $202,843 | 0.04% | 6,046 | Common | NONE |
| 56585A102 | MPC | MARATHON PETE CORP | $202,184 | 0.04% | 1,049 | Common | NONE |
| 233331107 | DTE | DTE ENERGY CO | $200,671 | 0.04% | 1,406 | Common | NONE |
| 00302M106 | XAGDX | ABRDN GLOBAL DYNAMIC DIVIDEN | $173,505 | 0.04% | 13,026 | Common | SOLE |
| 92333F101 | VG | VENTURE GLOBAL INC | $152,088 | 0.03% | 10,718 | Common | SOLE |
| 67066V101 | NAD | NUVEEN QUALITY MUNCP INCOME | $135,817 | 0.03% | 11,548 | Common | SOLE |
| 53681J103 | LAC | LITHIUM AMERS CORP NEW | $116,484 | 0.02% | 20,400 | Common | NONE |
| 30290Y101 | FSCO | FS CREDIT OPPORTUNITIES CORP | $79,278 | 0.02% | 11,473 | Common | SOLE |
| 03674X956 | — | ANTERO RESOURCES CORP | $7,500 | 0.00% | 100 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.