L2 Asset Management, LLC
Long book
$1.05B
Q1 2026
Positions
397
Top-10 weight
26%
concentration
Last quarter
+11.3%
SPY +14.8%
Turnover
19%
of book per quarter
Strategy in plain words
auto-generated from filingsL2 Asset Management, LLC is an institutional manager, running a $1.05B US long book across 397 positions.
The portfolio is moderately concentrated (top 10 ≈ 26% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES 0-3 MONTH TREASURY B, SCHWAB US LARGE-CAP ETF, SCHWAB 5-10 YEAR CORPORATE B, SIMPLIFY MBS ETF, AVANTIS US SMALL CAP VALUE.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.3%
Q2 2024
+6.8%
Q3 2024
+6.8%
Q4 2024
-3.8%
Q1 2025
+10.4%
Q2 2025
+7.3%
Q3 2025
+2.6%
Q4 2025
-0.6%
Q1 2026
+11.3%
Sector allocation
Technology 31%
Financials 11%
Healthcare 10%
Other 9%
Industrials 8%
Consumer discretionary 8%
Services media 7%
Energy 6%
Long book by quarter
What does L2 Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 126.8K | $22.1M | 2.1% | +7.4% |
| AAPL APPLE INC | Technology | 86.6K | $22.0M | 2.1% | +11.2% |
| MSFT MICROSOFT CORP | Technology | 41.0K | $15.2M | 1.4% | +7.5% |
| CF CF INDUSTRIES HOLDINGS INC | Other | 112.1K | $14.6M | 1.4% | +21.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 22.2K | $10.6M | 1.0% | -12.8% |
| GOOGL ALPHABET INC-CL A | Technology | 36.7K | $10.5M | 1.0% | +8.3% |
| AMGN AMGEN INC | Healthcare | 27.7K | $9.8M | 0.9% | +99.5% |
| META META PLATFORMS INC-CLASS A | Technology | 17.0K | $9.7M | 0.9% | -1.5% |
| EXPE EXPEDIA GROUP INC | Industrials | 42.0K | $9.7M | 0.9% | +5.9% |
| NTAP NETAPP INC | Technology | 94.2K | $9.6M | 0.9% | +26.8% |
| GILD GILEAD SCIENCES INC | Healthcare | 66.2K | $9.2M | 0.9% | -6.7% |
| ABNB AIRBNB INC-CLASS A | Services media | 72.0K | $9.1M | 0.9% | +105.7% |
| CSCO CISCO SYSTEMS INC | Technology | 110.1K | $8.5M | 0.8% | -11.0% |
| HAL HALLIBURTON CO | Energy | 216.9K | $8.5M | 0.8% | +39.9% |
| UTHR UNITED THERAPEUTICS CORP | Healthcare | 14.1K | $8.4M | 0.8% | +17.5% |
| LYV LIVE NATION ENTERTAINMENT IN | Services media | 54.2K | $8.3M | 0.8% | +54.4% |
| FLEX FLEX LTD | Technology | 124.8K | $8.2M | 0.8% | +6.2% |
| DLTR DOLLAR TREE INC | Consumer discretionary | 74.0K | $8.1M | 0.8% | +21.9% |
| TPR TAPESTRY INC | Other | 56.2K | $7.9M | 0.8% | +48.8% |
| AVGO BROADCOM INC | Technology | 25.3K | $7.8M | 0.7% | +8.0% |
| SYF SYNCHRONY FINANCIAL | Financials | 111.0K | $7.6M | 0.7% | +10.7% |
| JBL JABIL INC | Technology | 27.9K | $7.4M | 0.7% | -14.7% |
| GOOG ALPHABET INC-CL C | Technology | 25.0K | $7.2M | 0.7% | +5.0% |
| ZM ZOOM COMMUNICATIONS INC | Technology | 88.0K | $7.1M | 0.7% | +16.2% |
| RPRX ROYALTY PHARMA PLC- CL A | Healthcare | 147.1K | $7.1M | 0.7% | +0.9% |
| LTEC LOGITECH INTERNATIONAL-REG | — | 77.1K | $7.0M | 0.7% | +16.1% |
| FOXA FOX CORP - CLASS A | Communications | 113.0K | $6.6M | 0.6% | +6.4% |
| DELL DELL TECHNOLOGIES -C | Technology | 40.1K | $6.6M | 0.6% | +35.4% |
| QCOM QUALCOMM INC | Technology | 49.0K | $6.3M | 0.6% | +13.2% |
| TSLA TESLA INC | Industrials | 15.9K | $5.9M | 0.6% | +3.5% |
| AMP AMERIPRISE FINANCIAL INC | Financials | 13.2K | $5.9M | 0.6% | +1.9% |
| HO1 HOLOGIC INC | — | 76.9K | $5.8M | 0.6% | +3.0% |
| COKE COCA-COLA CONSOLIDATED INC | Consumer staples | 30.1K | $5.8M | 0.5% | +13.7% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 23.1K | $5.6M | 0.5% | -4.9% |
| EXEL EXELIXIS INC | Healthcare | 130.3K | $5.6M | 0.5% | +50.3% |
| LRCX LAM RESEARCH CORP | Industrials | 26.0K | $5.6M | 0.5% | -6.8% |
| RL RALPH LAUREN CORP | Other | 16.1K | $5.6M | 0.5% | -10.6% |
| SLB SLB LTD | Energy | 106.2K | $5.5M | 0.5% | +4.7% |
| JPM JPMORGAN CHASE & CO | Financials | 18.1K | $5.3M | 0.5% | -20.2% |
| EOG EOG RESOURCES INC | Energy | 36.1K | $5.2M | 0.5% | +19.3% |
| CAH CARDINAL HEALTH INC | Consumer discretionary | 24.7K | $5.2M | 0.5% | -37.4% |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 218.3K | $4.9M | 0.5% | New |
| INCY INCYTE CORP | Healthcare | 42.1K | $4.0M | 0.4% | +0.2% |
| KR KROGER CO | Consumer discretionary | 53.7K | $3.9M | 0.4% | +753.7% |
| XOM EXXON MOBIL CORP | Energy | 22.9K | $3.9M | 0.4% | +6.4% |
| BBY BEST BUY CO INC | Consumer discretionary | 59.5K | $3.8M | 0.4% | +30.6% |
| DVN DEVON ENERGY CORP | Energy | 75.4K | $3.8M | 0.4% | New |
| VAL VALARIS LTD | Energy | 36.9K | $3.6M | 0.3% | +56.3% |
| CPAY CORPAY INC | Services media | 11.6K | $3.4M | 0.3% | -39.5% |
| AU ANGLOGOLD ASHANTI PLC | Materials | 33.3K | $3.2M | 0.3% | -0.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 397 | $1.05B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 366 | $748.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 363 | $691.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 361 | $611.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 275 | $489.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 248 | $460.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 231 | $368.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 214 | $381.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 212 | $304.6M | canonical | SEC ↗ |
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