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Second Line Capital, LLC — 13F Holdings & Portfolio

CIK 1992879 · latest 13F-HR filed 2026-09-02

Backtest portfolio

Second Line Capital, LLC manages $537.0M in 13F-reported U.S. long-equity assets across 178 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ACIO (11.10%), DRSK (8.01%), IDUB (7.26%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 10 new positions and exited 22; 58 existing positions rose in reported value and 54 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$537.0M

Long-equity book

Holdings
178

Distinct positions

Period
2026-06-30

Filed 2026-09-02

Q/Q Activity
+10 / −22 / ↑58 / ↓54

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
ACIO11.1% · +2%DRSK8.0% · +2%IDUB7.3% · +2%SPY5.8% · +4%SPDW5.6% · +3%OSCV4.8% · +3%ADME4.6% · +2%DUBS4.0% · +4%FTSM3.9% · +1588%JUCY3.8% · +3%SPEM2.4% · +3%APP2.1% · +1%AAPL1.5% · +1%NVDA1.5% · -17%MSFT1.4% · +5%JPM1.3% · -3%OCUL1.2% · +21%AMZN1.1% · -4%USFR1.0% · +2%XOM1.0% · -1%WMT0.9% · -1%BKAG0.8% · +2%PWR0.8% · -31%RSP0.8% · +6%GLXY0.8% · -1%V0.7% · +5%FANG0.7% · -11%AVGO0.7% · +240%CVX0.7% · -6%APH0.7% · +6%MARA0.7% · -2%PGR0.7% · +17%CHE0.7% · +6%HD0.6% · +5%AMT0.6% · +16%NOW0.6% · +60%CPRT0.5% · +43%QQQM0.5% · +3%VOO0.5% · +16%UPSD0.5% · -1%IJH0.4% · +3%IJR0.4% · +1%BRK.B0.4% · +1%EFA0.4% · -2%JMST0.4% · +0%AMD0.4% · -1%TSLA0.3% · -60%GOOGL0.3% · +1%QQQ0.3% · -8%IVV0.3% · -5%DEFR0.3% · +2%CAT0.2% · -6%SO0.2% · -6%INTC0.2% · -32%JNJ0.2% · -6%PG0.2% · -12%SPMD0.2% · -1%JPST0.2% · -4%KO0.1% · +18%LOW0.1% · +43%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 59%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 16, 2026.

Assets Under Management
$1.32B
Discretionary
$1.32B
Employees
28
Accounts
1,199
Address
2800 VETERANS MEMORIAL BLVD.
SUITE 220
METAIRIE, LA 70002
Phone
(504) 321-0923
Website
Name Title / Status Ownership Type
Bordelon, John ControlCEO, MEMBER
since Apr 2023
10–25%Individual
FIRST LINE CAPITAL LLC ControlOWNER
since Jan 2026
75% or moreDomestic Entity
SOLIMAN, P, DAVID ControlCHIEF COMPLIANCE OFFICER, PRESIDENT, CHAIRMAN AND MEMBER
since Apr 2023
10–25%Individual
Bordelon, John Control
Indirect owner via FIRST LINE CAPITAL LLC
MEMBER
since Jan 2026
25–50%Individual
SOLIMAN, P, DAVID Control
Indirect owner via FIRST LINE CAPITAL LLC
MEMBER
since Jan 2026
25–50%Individual
Ownership & leadership changes · 3 filings with changes since Mar 29, 2023

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 31, 2026 filing
  • No longer listedBordelon, John · MEMBER · 25–50% · indirect via FAUBOURG PRIVATE WEALTH LLC · control person · listed since Mar 2015
  • No longer listedFAUBOURG PRIVATE WEALTH LLC · OWNER · 75% or more · control person · listed since Apr 2023
  • No longer listedSOLIMAN, P, DAVID · MEMBER · 25–50% · indirect via FAUBOURG PRIVATE WEALTH LLC · control person · listed since Mar 2015
  • AddedBordelon, John · MEMBER · 25–50% · indirect via FIRST LINE CAPITAL LLC · control person
  • AddedFIRST LINE CAPITAL LLC · OWNER · 75% or more · control person
  • AddedSOLIMAN, P, DAVID · MEMBER · 25–50% · indirect via FIRST LINE CAPITAL LLC · control person
Mar 29, 2024 filing
  • ChangedBordelon, John · title MEMBER → CEO, MEMBER
Apr 7, 2023 filing
  • No longer listedBERNSTEIN, DANIEL, ADAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2023
  • No longer listedCNSL MANAGEMENT ENTERPRISES, LLC · MANAGING MEMBER · 75% or more · control person · listed since Mar 2023
  • AddedBordelon, John · MEMBER · 10–25% · control person
  • AddedBordelon, John · MEMBER · 25–50% · indirect via FAUBOURG PRIVATE WEALTH LLC · control person
  • AddedFAUBOURG PRIVATE WEALTH LLC · OWNER · 75% or more · control person
  • AddedSOLIMAN, P, DAVID · CHIEF COMPLIANCE OFFICER, PRESIDENT, CHAIRMAN AND MEMBER · 10–25% · control person
  • AddedSOLIMAN, P, DAVID · MEMBER · 25–50% · indirect via FAUBOURG PRIVATE WEALTH LLC · control person
Mar 29, 2023 filing (earliest on record)
  • ListedBERNSTEIN, DANIEL, ADAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedCNSL MANAGEMENT ENTERPRISES, LLC · MANAGING MEMBER · 75% or more · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Second Line Capital, LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ETF SER SOLUTIONS ACIO 26922A222 $59.6M 11.10% 1,292,312 SH
2 ETF SER SOLUTIONS DRSK 26922A388 $43.0M 8.01% 1,495,309 SH
3 ETF SER SOLUTIONS IDUB 26922B709 $39.0M 7.26% 1,417,892 SH
4 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $31.1M 5.79% 41,556 SH
5 SPDR INDEX SHS FDS SPDW 78463X889 $30.2M 5.63% 600,233 SH
6 ETF SER SOLUTIONS OSCV 26922A446 $25.9M 4.82% 613,038 SH
7 ETF SER SOLUTIONS ADME 26922A784 $24.9M 4.64% 448,164 SH
8 ETF SER SOLUTIONS DUBS 26922B535 $21.5M 4.00% 516,098 SH
9 FIRST TR EXCHANGE-TRADED FD FTSM 33739Q408 $21.0M 3.92% 351,126 SH
10 ETF SER SOLUTIONS JUCY 26922B642 $20.3M 3.78% 923,539 SH
11 SPDR INDEX SHS FDS SPEM 78463X509 $13.0M 2.43% 251,929 SH
12 APPLOVIN CORP APP 03831W108 $11.2M 2.09% 21,752 SH
13 APPLE INC AAPL 037833100 $8.1M 1.51% 28,057 SH
14 NVIDIA CORPORATION NVDA 67066G104 $8.0M 1.50% 40,188 SH
15 MICROSOFT CORP MSFT 594918104 $7.5M 1.40% 20,122 SH
16 JPMORGAN CHASE & CO JPM 46625H100 $6.9M 1.28% 20,969 SH
17 OCULAR THERAPEUTIX INC OCUL 67576A100 $6.3M 1.17% 638,640 SH
18 AMAZON COM INC AMZN 023135106 $5.7M 1.06% 23,817 SH
19 WISDOMTREE TR USFR 97717Y527 $5.6M 1.04% 111,437 SH
20 EXXON MOBIL CORP XOM 30231G102 $5.6M 1.04% 40,730 SH
21 WALMART INC WMT 931142103 $4.8M 0.90% 42,803 SH
22 BNY MELLON ETF TRUST BKAG 09661T602 $4.5M 0.83% 106,590 SH
23 QUANTA SVCS INC PWR 74762E102 $4.3M 0.80% 5,973 SH
24 INVESCO EXCHANGE TRADED FD T RSP 46137V357 $4.3M 0.80% 20,156 SH
25 GALAXY DIGITAL INC. GLXY 36317J209 $4.2M 0.79% 154,268 SH
26 VISA INC V 92826C839 $3.9M 0.73% 11,400 SH
27 DIAMONDBACK ENERGY INC FANG 25278X109 $3.8M 0.70% 21,397 SH
28 BROADCOM INC AVGO 11135F101 $3.8M 0.70% 9,937 SH
29 CHEVRON CORPORATION CVX 166764100 $3.7M 0.69% 22,207 SH
30 AMPHENOL CORP APH 032095101 $3.6M 0.68% 20,563 SH
31 MARA HOLDINGS INC MARA 565788106 $3.6M 0.67% 258,225 SH
32 PROGRESSIVE CORP PGR 743315103 $3.6M 0.66% 16,326 SH
33 CHEMED CORP NEW CHE 16359R103 $3.5M 0.66% 7,556 SH
34 HOME DEPOT INC HD 437076102 $3.2M 0.60% 9,132 SH
35 AMERICAN TOWER CORP AMT 03027X100 $3.1M 0.57% 18,630 SH
36 SERVICENOW INC NOW 81762P102 $3.0M 0.56% 30,561 SH
37 COPART INC CPRT 217204106 $2.9M 0.54% 103,691 SH
38 INVESCO EXCH TRADED FD TR II QQQM 46138G649 $2.9M 0.54% 9,612 SH
39 VANGUARD INDEX FDS VOO 922908363 $2.7M 0.50% 3,921 SH
40 ETF SER SOLUTIONS UPSD 26922B444 $2.6M 0.49% 92,867 SH
41 ISHARES TR IJH 464287507 $2.3M 0.43% 30,005 SH
42 ISHARES TR IJR 464287804 $2.3M 0.43% 15,420 SH
43 ISHARES TR EFA 464287465 $2.2M 0.42% 21,544 SH
44 J P MORGAN EXCHANGE TRADED F JMST 46641Q654 $2.2M 0.41% 43,654 SH
45 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $2.2M 0.41% 4,416 SH
46 ADVANCED MICRO DEVICES INC AMD 007903107 $2.0M 0.37% 3,437 SH
47 TESLA INC TSLA 88160R101 $1.9M 0.35% 4,418 SH
48 ALPHABET INC GOOGL 02079K305 $1.8M 0.34% 5,092 SH
49 INVESCO QQQ TR QQQ 46090E103 $1.8M 0.33% 2,419 SH
50 ISHARES TR IVV 464287200 $1.7M 0.32% 2,263 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-12 $537.0M 178 0001992879-26-000011
2026-06-30 2026-09-02 $537.0M 178 0001992879-26-000017
2026-03-31 2026-05-15 $528.0M 185 0001992879-26-000009
2025-12-31 2026-02-17 $486.6M 172 0001992879-26-000002
2025-09-30 2025-11-19 $483.1M 160 0001992879-25-000005
Filer Information
Address
2800 VETERANS MEMORIAL BLVD.
SUITE 220
METAIRIE, LA 70002
Phone
(504) 321-0936
Filing Manager
Second Line Capital, LLC
METAIRIE, LA
Signatory
Peter David N Soliman
Managing Partner / CCO