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SLC

Second Line Capital Portfolio holdings

AUM $528M
1-Year Est. Return 16.68%
This Fund
S&P 500
This Quarter Est. Return
+9.11%
1 Year Est. Return
+16.68%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$483M
AUM Growth
+$52.7M
Cap. Flow
+$20M
Cap. Flow %
4.14%
Top 10 Hldgs %
53.54%
Holding
169
New
20
Increased
67
Reduced
55
Closed
9

Top Buys

Rank Stock Value
1
FTSM icon
First Trust Enhanced Short Maturity ETF
FTSM
+$7.23M
2
CRWV
CoreWeave
CRWV
+$4.64M
3
USFR icon
WisdomTree Floating Rate Treasury Fund
USFR
+$4.43M
4
CRDO icon
Credo Technology Group
CRDO
+$3.6M
5
VRT icon
Vertiv
VRT
+$3.22M

Top Sells

Rank Stock Value
1
CLS icon
Celestica
CLS
+$3.73M
2
APP icon
Applovin
APP
+$2.92M
3
AMD icon
Advanced Micro Devices
AMD
+$2.9M
4
META icon
Meta Platforms (Facebook)
META
+$2.38M
5
DECK icon
Deckers Outdoor
DECK
+$1.96M

Sector Composition

Rank Sector Weight
1 Technology 11.01%
2 Communication Services 5.14%
3 Financials 5.09%
4 Consumer Discretionary 3.47%
5 Energy 3.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WSM icon
151
Williams-Sonoma
WSM
$26.6B
$207K 0.04%
+1,057
New +$202K
INTC icon
152
Intel
INTC
$495B
$203K 0.04%
+6,046
New +$146K
MPC icon
153
Marathon Petroleum
MPC
$92.7B
$202K 0.04%
+1,049
New +$184K
DTE icon
154
DTE Energy
DTE
$30.4B
$201K 0.04%
1,406
-200
-12% -$27.4K
AGD
155
abrdn Global Dynamic Dividend Fund
AGD
$318M
$174K 0.04%
13,026
-1,930
-13% -$22.8K
VG
156
Venture Global Inc
VG
$35.6B
$152K 0.03%
+10,718
New +$153K
NAD icon
157
Nuveen Quality Municipal Income Fund
NAD
$2.77B
$136K 0.03%
11,548
-100
-0.9% -$1.14K
LAC
158
Lithium Americas
LAC
$1.03B
$116K 0.02%
+20,400
New +$64.5K
FSCO
159
FS Credit Opportunities Corp
FSCO
$989M
$79.3K 0.02%
11,473
– –
AR icon
160
PUT
Antero Resources
AR
$10.4B
$7.5K ﹤0.01%
+100
New +$3.33K
ACN icon
161
Accenture
ACN
$88.4B
– –
-703
Closed -$210K
CLS icon
162
Celestica
CLS
$35.6B
– –
-23,905
Closed -$3.73M
CMCSA icon
163
Comcast
CMCSA
$85.3B
– –
-5,838
Closed -$208K
DECK icon
164
Deckers Outdoor
DECK
$14.4B
– –
-18,981
Closed -$1.96M
HWC icon
165
Hancock Whitney
HWC
$6.27B
– –
-4,076
Closed -$234K
INFL icon
166
Horizon Kinetics Inflation Beneficiaries ETF
INFL
$1.48B
– –
-5,184
Closed -$219K
MSTR icon
167
Strategy Inc
MSTR
$36.1B
– –
-510
Closed -$206K
POOL icon
168
Pool Corp
POOL
$7.3B
– –
-913
Closed -$266K
WM icon
169
Waste Management
WM
$95.8B
– –
-915
Closed -$209K
3 4 5 6
7

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MFS
McNamara Financial Services Marshfield, Massachusetts $528M AUM 14.85% 1-Year Est. Return
LI
Louisbourg Investments Dieppe, New Brunswick, Canada $529M AUM 28.26% 1-Year Est. Return
VP
Verum Partners Charlotte, North Carolina $527M AUM 16.8% 1-Year Est. Return
OMC
Overbrook Management Corp New York $529M AUM 31.5% 1-Year Est. Return
OC
Oakmont Corp Los Angeles, California $526M AUM 7.52% 1-Year Est. Return
VU
Vanderbilt University Nashville, Tennessee $526M AUM 31.17% 1-Year Est. Return
TM
Taproot Management New York $530M AUM
SWA
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Second Line Capital's Q3 2025 Portfolio in Review

As of Q3 2025, Second Line Capital held 169 positions worth $483M, up 12% from $430M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Second Line Capital deployed $20M of net new capital in Q3 2025, opening 20 new positions and adding to 67 existing holdings. Its largest new stake was First Trust Enhanced Short Maturity ETF: 120,501 shares worth $7.24M.

By sector, the portfolio is most concentrated in Technology at 11% of assets, up from 9.9% a quarter earlier, followed by Communication Services and Financials.

On the sell side, the largest reduction was Applovin, an estimated $2.92M trimmed.

  • Second Line Capital's largest Q3 2025 buy was First Trust Enhanced Short Maturity ETF: 120,501 shares worth $7.24M.
  • Second Line Capital added most to ServiceNow in Q3 2025, an estimated $2.76M increase.
  • Second Line Capital's biggest Q3 2025 reduction was Applovin, cutting an estimated $2.92M.
  • Second Line Capital fully exited Celestica in Q3 2025, selling an estimated $3.73M.
  • Second Line Capital's ten largest holdings make up 54% of its $483M portfolio in Q3 2025.
  • Second Line Capital opened 20 new positions and closed 9 in Q3 2025.
  • Second Line Capital's portfolio value rose 12% quarter-over-quarter to $483M.

Based on Second Line Capital's 13F filing for Q3 2025, filed 19 Nov 2025.