Second Line Capital, LLC

CIK 0001992879 · Q2 2026

13F Equity AUM

$537.0M

+1.7% QoQ

Positions

176

-9 QoQ

AUM Rank

#4,727

Top 38%

Skill Alpha (FF)

-3.7%/yr^ns

No Clear Edge

Rank #7,231 · Top 87%

vs S&P -3.3%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 37.8%Top 10: 59.0%Top 20: 73.5%

ACIO11.1%

DRSK8.0%

IDUB7.3%

SPY5.8%

SPDW5.6%

OSCV4.8%

ADME4.6%

DUBS4.0%

FTSM3.9%

JUCY3.8%

Others (166)41.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services75.1%

Technology10.0%

Energy3.3%

Healthcare2.7%

Consumer Cyclical2.5%

Industrials2.1%

Other4.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 176Median: 0.08%Avg: 0.57%

0–0.5%

137(13.6%)

0.5–1%

19(12.9%)

1–3%

10(14.5%)

3–5%

5(21.2%)

5%+

5(37.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 176vs 20 funds

0%Low

176

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New13Increased64Decreased91Exited22

New Positions

VTI0.1%

+1K

ROK0.1%

+869

USPX0.1%

+5K

PII0.0%

+3K

S&P GLOBAL INC0.0%

+492

ASML0.0%

+120

VUG0.0%

+3K

WSM0.0%

+1K

SPYI0.0%

+4K

AR0.0%

+100

Increased

FTSM3.9%

+330K(+1588%)

OCUL1.2%

+110K(+21%)

DRSK8.0%

+33K(+2%)

CPRT0.5%

+31K(+43%)

IDUB7.3%

+28K(+2%)

ACIO11.1%

+26K(+2%)

JUCY3.8%

+24K(+3%)

OSCV4.8%

+20K(+3%)

DUBS4.0%

+18K(+4%)

SPDW5.6%

+16K(+3%)

Decreased

JAAA0.1%

-23,156(-82%)

BR0.1%

-12,651(-85%)

BP0.1%

-10,137(-47%)

NVDA1.5%

-8,197(-17%)

TSLA0.3%

-6,655(-60%)

META0.1%

-6,219(-82%)

MARA0.7%

-5,577(-2%)

CSCO0.1%

-5,499(-55%)

MDIV0.0%

-4,503(-28%)

INTC0.2%

-3,534(-32%)

Exited

-66,244

-29,617

-86,703

-24,466

-10,200

-3,982

-1,167

-3,131

-2,738

-1,268

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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