Managers / Q1 2026

Second Line Capital, LLC

CIK 0001992879 · 2800 VETERANS MEMORIAL BLVD., SUITE 220, METAIRIE, LA, 70002 · 504-321-0936

Reported Value

$528M

Q1 2026

Positions

185

Filings on Record

2019–present window

Filed

May 15, 2026

original filing

Summary

Second Line Capital, LLC reported $528M in U.S.-listed holdings across 185 positions for Q1 2026.

Its largest position, Aptus Collared Investment Opportunity Etf, represents 10.9% of the portfolio.

Compared with Q4 2025, the fund opened 30 new positions and exited 11.

Portfolio Metrics

Turnover

+8.2%

vs prior filed quarter

Top-10 Concentration

+55.7%

share of reported value

Largest Position

+10.9%

Aptus Collared Investment Opportunity Etf

New / Exited

30 / 11

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

ETP · 65.4% · $345M
Common Stock · 32.0% · $169M
Other · 1.2% · $7M
REIT · 0.7% · $3M
MLP · 0.3% · $1M
Other · 0.4% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
CREDO TECHNOLOGY GROUP HOLDING ORDINARY SHARES	NEW	+29.6K	29.6K	+$5M	$5M
GLXY GALAXY DIGITAL INC. CL A	NEW	+156.1K	156.1K	+$4M	$4M
APLD APPLIED DIGITAL CORP COM NEW	NEW	+86.7K	86.7K	+$3M	$3M
INVESCO NASDAQ 100 ETF	NEW	+9.3K	9.3K	+$3M	$3M
JANUS HENDERSON AAA CLO ETF	NEW	+28.1K	28.1K	+$1M	$1M
FCX FREEPORT MCMORAN INC CL B	NEW	+24.5K	24.5K	+$1M	$1M
CHR CHURCHILL DOWNS INC COM	NEW	+10.2K	10.2K	+$1M	$1M
FIRST TRUST US EQUITY OPPORTUNITIES ETF	NEW	+2.7K	2.7K	+$498,508	$498,508

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

50 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	APTUS COLLARED INVESTMENT OPPORTUNITY ETF	ETF	10.85%	$57M	1.27M
2	APTUS DEFINED RISK ETF	ETF	7.90%	$42M	1.46M
3	IDUB APTUS INTERNATIONAL ENHANCED YIELD history →	ETF	7.04%	$37M	1.39M
4	STATE STREET SPDR S&P 500 ETF	ETF	5.46%	$29M	40.1K
5	STATE STREET SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF	ETF	5.42%	$29M	584.4K
6	OPUS SMALL CAP VALUE ETF	ETF	4.64%	$24M	592.9K
7	ADME APTUS DRAWDOWN MANAGED EQUITY ETF history →	ETF	4.47%	$24M	437.3K
8	APTUS LARGE CAP ENHANCED YIELD ETF	ETF	3.77%	$20M	497.9K
9	APTUS ENHANCED YIELD ETF	ETF	3.77%	$20M	899.2K
10	STATE STREET SPDR PORTFOLIO EMERGING MARKETS ETF	ETF	2.37%	$13M	244.1K
11	NVDA NVIDIA CORPORATION COM history →	Stock	1.83%	$10M	48.4K
12	APP APPLOVIN CORP COM CL A history →	Stock	1.82%	$10M	21.6K
13	MSFT MICROSOFT CORP COM history →	Stock	1.48%	$8M	19.2K
14	AAPL APPLE INC COM history →	Stock	1.42%	$8M	27.7K
15	CRWV COREWEAVE INC COM CL A history →	Stock	1.40%	$7M	66.2K
16	JPM JPMORGAN CHASE & CO COM history →	Stock	1.28%	$7M	21.6K
17	AMZN AMAZON COM INC COM history →	Stock	1.24%	$7M	24.8K
18	EXMOC EXXON MOBIL CORP COM history →	Stock	1.21%	$6M	41.3K
19	PWR QUANTA SVCS INC COM history →	Stock	1.19%	$6M	8.6K
20	WMT WALMART INC COM history →	Stock	1.08%	$6M	43.4K
21	WISDOMTREE FLOATING RATE TREASURY FUND	ETF	1.04%	$5M	109.1K
22	CREDO TECHNOLOGY GROUP HOLDING ORDINARY SHARES	Stock	0.98%	$5M	29.6K
23	FANG DIAMONDBACK ENERGY INC COM	Stock	0.94%	$5M	24.1K
24	OCUL OCULAR THERAPEUTIX INC COM	Stock	0.94%	$5M	528.3K
25	META META PLATFORMS INC CL A	Stock	0.88%	$5M	7.6K
26	CHV CHEVRON CORPORATION COM	Stock	0.86%	$5M	23.6K
27	BNY MELLON CORE BOND ETF	ETF	0.83%	$4M	104.0K
28	GLXY GALAXY DIGITAL INC. CL A	Stock	0.81%	$4M	156.1K
29	TSLA TESLA INC COM	Stock	0.80%	$4M	11.1K
30	INVESCO S&P 500 EQUAL WEIGHT ETF	ETF	0.74%	$4M	19.1K
31	V VISA INC COM CL A	Stock	0.68%	$4M	10.9K
32	MARA MARA HOLDINGS INC COM	Stock	0.60%	$3M	263.8K
33	CHE CHEMED CORP NEW COM	Stock	0.58%	$3M	7.2K
34	APLD APPLIED DIGITAL CORP COM NEW	Stock	0.56%	$3M	86.7K
35	AMT AMERICAN TOWER CORP COM	REIT	0.56%	$3M	16.1K
36	APH AMPHENOL CORP CL A	Stock	0.54%	$3M	19.5K
37	HD HOME DEPOT INC COM	Stock	0.54%	$3M	8.7K
38	PGR PROGRESSIVE CORP COM	Stock	0.53%	$3M	13.9K
39	INVESCO NASDAQ 100 ETF	ETF	0.49%	$3M	9.3K
40	APTUS LARGE CAP UPSIDE ETF	ETF	0.48%	$3M	93.6K
41	CPRT COPART INC COM	Stock	0.45%	$2M	72.5K
42	BR BROADRIDGE FINL SOLUTIONS INC COM	Stock	0.43%	$2M	14.8K
43	ISHARES MSCI EAFE ETF	ETF	0.43%	$2M	22.0K
44	VANGUARD S&P 500 ETF	ETF	0.42%	$2M	3.4K
45	JPMORGAN ULTRA-SHORT MUNICIPAL INCOME ETF	ETF	0.42%	$2M	43.5K
46	ISHARES CORE S&P MID-CAP ETF	ETF	0.40%	$2M	29.2K
47	BRK/B BERKSHIRE HATHAWAY INC DEL CL B NEW	Stock	0.40%	$2M	4.5K
48	ISHARES CORE S&P SMALL CAP ETF	ETF	0.40%	$2M	15.2K
49	GOOGL ALPHABET INC CAP STK CL A	Stock	0.37%	$2M	5.1K
50	NDQ INVESCO QQQ TRUST SERIES I	ETF	0.33%	$2M	2.6K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$528M	185	May 15, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$487M	172	Feb 17, 2026	13F-HR	changes · EDGAR ↗
Q3 2025	$483M	160	Nov 19, 2025	13F-HR	changes · EDGAR ↗
Q2 2025	$430M	149	Aug 18, 2025	13F-HR	changes · EDGAR ↗
Q1 2025	$388M	145	May 15, 2025	13F-HR	changes · EDGAR ↗
Q4 2024	$371M	131	Feb 14, 2025	13F-HR	changes · EDGAR ↗
Q3 2024	$367M	136	Nov 19, 2024	13F-HR	changes · EDGAR ↗
Q2 2024	$327M	115	Aug 16, 2024	13F-HR	changes · EDGAR ↗
Q1 2024	$308M	114	May 22, 2024	13F-HR	changes · EDGAR ↗
Q4 2023	$250M	102	Feb 9, 2024	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.