WC
Waterloo Capital, L.P. — 13F Portfolio Report & Top Holdings (Q2 2026)
Waterloo Capital, L.P.CIK: 0001730942
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$1.8B
Reporting period: 2026-06-30 · Number of holdings: 560
Waterloo Capital, L.P. disclosed 560 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.8B and a quarterly turnover rate of 43.5%.
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Personality snowflake
- Concentration
- 4.41
- Portfolio Stability
- 43.47
- Momentum
- 100
- Sector conviction
- 46.72
- Diversification
- 100
- Sizing Uniformity
- 77.32
Waterloo Capital, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.011 — mathematically equivalent to about 91 equally-sized positions, well below its 560 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.27), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 40% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPYM
+368.4% $60.9M
New buy AVLV
Trim IVV
-67.5% -$32.9M
Trim DFLV
-97.6% -$29.3M
Trim WMT
+4.5% -$3.0M
New buy CGSD
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 560 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 4.21% | +3.23% | +368.36% | |
| 2 | WMT | Walmart Inc | Stock-Consumer Staples | 3.38% | -1.05% | +4.54% | |
| 3 | SPYG | Ss Spdr P S&p 500 Growth ETF | ETF-Large Cap & Growth | 3.04% | +0.63% | +29.55% | |
| 4 | AVLV | Avantis US Large Cap Value | ETF-Large Cap & Growth | 2.58% | +2.58% | NEW | |
| 5 | AAPL | Apple Inc | Stock-Tech | 2.33% | +0.13% | +16.24% | |
| 6 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 2.20% | +0.35% | +16.82% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 2.07% | +0.01% | +9.55% | |
| 8 | FENI | Fidelity Enhanced Intl ETF | ETF-Other | 2.05% | -0.25% | +3.49% | |
| 9 | ACIO | Aptus Collared Invest Opp | ETF-Other | 1.93% | -0.31% | -2.51% | |
| 10 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 1.71% | +0.11% | +2.89% | |
| 11 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 1.69% | -0.36% | -6.79% | |
| 12 | IDUB | Aptus Intl Enhan Yld ETF | ETF-Other | 1.47% | -0.22% | -2.16% | |
| 13 | JCPB | Jpmorgan Core Plus Bond ETF | ETF-Other | 1.42% | -0.07% | +20.03% | |
| 14 | GBIL | Goldman Sachs Access Treasur | ETF-Commodities | 1.32% | -0.31% | +1.30% | |
| 15 | DRSK | Aptus Defined Risk ETF | ETF-Other | 1.20% | -0.18% | +3.65% | |
| 16 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.20% | -0.14% | +0.11% | |
| 17 | AVGO | Broadcom Inc | Stock-Tech | 1.17% | +0.17% | +19.14% | |
| 18 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.11% | -0.25% | -11.04% | |
| 19 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.10% | -2.58% | -67.46% | |
| 20 | OSCV | Opus Small Cap Value ETF | ETF-Small Cap | 1.08% | -0.20% | -1.42% | |
| 21 | CGSD | Cap Group Short Duration | ETF-Other | 1.03% | +1.03% | NEW | |
| 22 | MSFT | Microsoft CORP | Stock-Tech | 0.98% | -0.13% | +9.72% | |
| 23 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 0.95% | +0.38% | +111.30% | |
| 24 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.90% | +0.02% | +12.20% | |
| 25 | SMH | Vaneck Semiconductor ETF | ETF-Other | 0.90% | +0.02% | -25.45% | |
| 26 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.85% | +0.43% | +96.62% | |
| 27 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.84% | +0.15% | +24.62% | |
| 28 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.82% | +0.10% | +23.92% | |
| 29 | MUB | Ishares National Muni Bond E | ETF-Other | 0.81% | -0.22% | -3.43% | |
| 30 | ADME | Aptus Drwdwn Mgd Eqty ETF | ETF-Other | 0.78% | -0.12% | -3.01% | |
| 31 | ASML | ASML Holding N.V. | Stock-Tech | 0.73% | +0.59% | +330.90% | |
| 32 | SLQD | Ishares 0-5 Yr Inv Grd CORP | ETF-Other | 0.73% | -0.13% | +5.90% | |
| 33 | DUBS | Aptus Lrg Cap Enh Yld ETF | ETF-Other | 0.72% | +0.17% | +42.22% | |
| 34 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.70% | +0.02% | +3.64% | |
| 35 | AMD | Advanced Micro Devices | Stock-Tech | 0.68% | +0.54% | +112.88% | |
| 36 | UPSD | Aptus Large Cap Upside ETF | ETF-Large Cap & Growth | 0.67% | -0.06% | +4.18% | |
| 37 | STX | Seagate Technology Holdings plc | Stock-Tech | 0.66% | +0.31% | -5.81% | |
| 38 | SHYG | Ishares 0-5 Yr Hy CORP Bond | ETF-Corp Bonds | 0.60% | -0.12% | +5.04% | |
| 39 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.60% | -0.05% | +3.47% | |
| 40 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 0.60% | -0.02% | +20.38% | |
| 41 | IAU | Ishares Gold Trust | ETF-Commodities | 0.59% | -0.09% | +27.75% | |
| 42 | CTA | Simplify Managed Futures St | ETF-Other | 0.56% | +0.29% | +200.05% | |
| 43 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.53% | -0.13% | -7.12% | |
| 44 | EWJ | Ishares Msci Japan ETF | ETF-Other | 0.52% | -0.02% | +9.23% | |
| 45 | IWD | Ishares Russell 1000 Value E | ETF-Other | 0.51% | -0.16% | -16.98% | |
| 46 | SJNK | Ss Spdr Bb St Hi Yield ETF | ETF-Other | 0.50% | -0.10% | +4.17% | |
| 47 | CGCP | Cap Group Core Plus Income | ETF-Other | 0.48% | +0.48% | NEW | |
| 48 | SPLV | Invesco S&p 500 Low Volatili | ETF-Large Cap & Growth | 0.48% | -0.27% | -22.49% | |
| 49 | GLBE | Global-E Online Ltd. | Stock-Other | 0.48% | +0.48% | NEW | |
| 50 | SPTI | Ss Spdr P Int Term Tsy ETF | ETF-Other | 0.47% | -0.30% | -22.90% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.6%
Performance Last 4 Quarters
+16.8%
- Stdev
- +9.9%
- Beta
- +0.75
- Alpha
- +0.9%
- Max Drawdown
- -4.9%
- Annualized Perf
- +16.5%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +3.2
- Stutzer
- +0.46
- Treynor
- +0.21
- Sterling
- +1.15
- Calmar
- +3.36
- Information Ratio
- -1.03
- Tracking Error
- +4%
- Stdev Down
- +5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +27.9%
- Worst 12 Months
- +7.8%
- Efficiency Ratio
- +0.63
- Sharpe
- +1.6
- Stdev Sectors
- +7.7%
- Skewness
- -0.11
- Kurtosis
- +0.03
- Upside Potential
- +4.68
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 560 | $1.8B | 43 | ||
| 2026 Q1 | 481 | $1.4B | 32 | ||
| 2025 Q4 | 456 | $1.4B | 19 | ||
| 2025 Q3 | 455 | $1.3B | 40 | ||
| 2025 Q2 | 457 | $1.2B | 0 | ||
| 2025 Q1 | 390 | $1.1B | 100 | ||
| 2024 Q4 | 363 | $948.9M | 0 | ||
| 2024 Q3 | 354 | $916.3M | 0 | ||
| 2024 Q2 | 347 | $833.3M | 0 | ||
| 2024 Q1 | 361 | $782.8M | 0 | ||
| 2023 Q4 | 371 | $617.8M | 0 | ||
| 2023 Q3 | 181 | $340.8M | 0 | ||
| 2023 Q2 | 206 | $338.8M | 0 | ||
| 2023 Q1 | 200 | $323.4M | 0 | ||
| 2020 Q1 | 154 | $140.9M | — |
Holding changes this quarter
Waterloo Capital, L.P.'s most significant position changes for 2026-06-30: New buy: Avantis US Large Cap Value (AVLV); New buy: Cap Group Short Duration (CGSD); New buy: Cap Group Core Plus Income (CGCP); New buy: Global-E Online Ltd. (GLBE); New buy: Shopify Inc - Class A (SHOP).
Showing top 200 changes by size (of 607 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +3.2% | +368.36% | Add |
| 2 | AVLV | Avantis US Large Cap Value | +2.6% | NEW | New buy |
| 3 | CGSD | Cap Group Short Duration | +1% | NEW | New buy |
| 4 | SPYG | Ss Spdr P S&p 500 Growth ETF | +0.6% | +29.55% | Add |
| 5 | ASML | ASML Holding N.V. | +0.6% | +330.90% | Add |
| 6 | AMD | Advanced Micro Devices | +0.5% | +112.88% | Add |
| 7 | CGCP | Cap Group Core Plus Income | +0.5% | NEW | New buy |
| 8 | GLBE | Global-E Online Ltd. | +0.5% | NEW | New buy |
| 9 | SHOP | Shopify Inc - Class A | +0.5% | NEW | New buy |
| 10 | QQQ | Invesco Qqq Trust Series 1 | +0.4% | +96.62% | Add |
| 11 | IEF | Ishares 7-10 Year Treasury B | +0.4% | +111.30% | Add |
| 12 | QQQM | Invesco Nasdaq 100 ETF | +0.4% | +16.82% | Add |
| 13 | MU | Micron Technology Inc | +0.3% | +56.85% | Add |
| 14 | STX | Seagate Technology Holdings plc | +0.3% | -5.81% | Trim |
| 15 | CEG | Constellation Energy | +0.3% | +493.24% | Add |
| 16 | MDGL | Madrigal Pharmaceuticals Inc | +0.3% | NEW | New buy |
| 17 | CTA | Simplify Managed Futures St | +0.3% | +200.05% | Add |
| 18 | CWEN | Clearway Energy Inc-c | +0.3% | NEW | New buy |
| 19 | DVA | Davita Inc | +0.2% | NEW | New buy |
| 20 | UBER | Uber Technologies Inc | +0.2% | +252.49% | Add |
| 21 | PONY | Pony Ai Inc | +0.2% | NEW | New buy |
| 22 | AVGO | Broadcom Inc | +0.2% | +19.14% | Add |
| 23 | DUBS | Aptus Lrg Cap Enh Yld ETF | +0.2% | +42.22% | Add |
| 24 | WRD | Weride Inc-adr | +0.2% | NEW | New buy |
| 25 | WIW | Western Asst Infl-lnk Opp | +0.2% | NEW | New buy |
| 26 | GOOG | Alphabet Inc-cl C | +0.2% | +24.62% | Add |
| 27 | XLK | Ss Technology Select Sector | +0.2% | +91.72% | Add |
| 28 | BXSL | Blackstone Secured Lending F | +0.2% | +964.29% | Add |
| 29 | COIN | Coinbase Global Inc -class A | +0.2% | NEW | New buy |
| 30 | MNST | Monster Beverage CORP | +0.1% | +191.10% | Add |
| 31 | IWY | Ishares Russell Top 200 Grow | +0.1% | NEW | New buy |
| 32 | IWF | Ishares Russell 1000 Growth | +0.1% | NEW | New buy |
| 33 | TTD | Trade Desk Inc/the -class A | +0.1% | NEW | New buy |
| 34 | AAPL | Apple Inc | +0.1% | +16.24% | Add |
| 35 | ZIM | ZIM Integrated Shipping Services Ltd. | +0.1% | NEW | New buy |
| 36 | SCHG | Schwab US Large-cap Growth | +0.1% | +118.09% | Add |
| 37 | MS | Morgan Stanley | +0.1% | +280.89% | Add |
| 38 | DLN | Wisdomtree US Largecap Divid | +0.1% | NEW | New buy |
| 39 | ILCG | Ishares Morningstar Growth E | +0.1% | NEW | New buy |
| 40 | EMXC | Ishares Msci Emr Mrk Ex Chna | +0.1% | +2.89% | Add |
| 41 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +23.92% | Add |
| 42 | PANW | Palo Alto Networks Inc | +0.1% | +15.69% | Add |
| 43 | STLD | Steel Dynamics Inc | +0.1% | +275.25% | Add |
| 44 | TOST | Toast Inc-class A | +0.1% | NEW | New buy |
| 45 | CAT | Caterpillar Inc | +0.1% | +65.92% | Add |
| 46 | DELL | Dell Technologies -c | +0.1% | +83.61% | Add |
| 47 | TLT | Ishares 20+ Year Treasury Bd | +0.1% | NEW | New buy |
| 48 | EMO | Clearbridge Energy Midstream | +0.1% | NEW | New buy |
| 49 | IVW | Ishares S&p 500 Growth ETF | +0.1% | NEW | New buy |
| 50 | LLY | Eli Lilly & Co | +0.1% | +25.14% | Add |
1–50 of 200
Filing History
FAQ
What is Waterloo Capital, L.P. and what type of investor is it?
Waterloo Capital, L.P. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.8B, spread across 560 disclosed positions.
What are Waterloo Capital, L.P.'s largest equity positions?
Based on the latest 13F filing, Waterloo Capital, L.P.'s top holdings by market value are:
1. Ste Str Spdr Pt S&p 500 ETF (SPYM) — $74.8M (4.2%)
2. Walmart Inc (WMT) — $60.1M (3.4%)
3. Ss Spdr P S&p 500 Growth ETF (SPYG) — $54.1M (3.0%)
4. Avantis US Large Cap Value (AVLV) — $45.9M (2.6%)
5. Apple Inc (AAPL) — $41.5M (2.3%)
What changes did Waterloo Capital, L.P. make in its most recent portfolio filing?
In the latest reported quarter, Waterloo Capital, L.P. made 200 notable position adjustments: 42 new positions were initiated, 97 existing holdings were added to, 50 positions were partially reduced, and 11 were completely exited. The largest of these moves: New buy: Avantis US Large Cap Value (AVLV); New buy: Cap Group Short Duration (CGSD); New buy: Cap Group Core Plus Income (CGCP); New buy: Global-E Online Ltd. (GLBE); New buy: Shopify Inc - Class A (SHOP)
What sectors does Waterloo Capital, L.P. focus on?
Waterloo Capital, L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 31.4%
• Consumer Staples: 13.3%
• Financials: 10.8%
• Industrials: 7.7%
• Health Care: 7.4%
• Real Estate: 7.4%
Investment Profile
Waterloo Capital, L.P. returned an annualized 16.5% over the trailing 36 months — outperforming the S&P 500 by 0.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.75 (less volatile than the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 31.4% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 43 over the past 4 quarters — a shift toward more active trading.
It has added to its EMXC position over the past two quarters (+$24.4M, now $30.4M), while trimming IVV over the same stretch (-$34.4M, still holding $19.5M).
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Developer Access
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