Q3 2026 13F · SEC CIK 2056410

Rahlfs Capital, LLC

Wealth managerFiled 2026-10-23 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $149.7M
Reported positions: 89
Holdings vs S&P 500, 3 yrs: —
Assets under management: $271.6M

Rahlfs Capital, LLC is a wealth manager that reported 89 positions worth $149.7M in its Q3 2026 13F, filed 2026-10-23. Its largest holdings were J P Morgan Exchange Traded F (JPST, 10.5%), Apple Inc (AAPL, 8.1%), Microsoft Corp (MSFT, 5.1%).

Rahlfs Capital, LLC holdings largest 50 of 89 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Rahlfs Capital, LLC 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
JPSTJ P Morgan Exchange Traded F	10.5%	7.5%	312,750	+55.0%	$15.8M
AAPLApple Inc	8.1%	7.9%	36,620	-1.1%	$12.2M
MSFTMicrosoft Corp	5.1%	3.8%	14,812	+7.6%	$7.6M
BRK-BBerkshire Hathaway Inc Del	5.0%	5.5%	14,992	+0.0%	$7.5M
GOOGLAlphabet Inc	4.3%	5.3%	18,829	-6.4%	$6.5M
WMTWalmart Inc	3.2%	3.9%	46,490	-1.1%	$4.8M
INTCIntel Corp	3.0%	3.8%	36,759	+0.0%	$4.4M
GDXVaneck ETF Trust	2.6%	2.5%	44,255	+0.0%	$3.9M
TXNTexas Instrs Inc	2.2%	2.5%	11,563	+0.0%	$3.2M
NEMNewmont Corp	2.1%	1.6%	26,860	+13.9%	$3.1M
APAApa Corporation	2.0%	1.4%	71,120	+21.2%	$3.0M
VNLAJanus Detroit Str Tr	1.8%	—	55,000	—	$2.7M
JEPIJ P Morgan Exchange Traded F	1.7%	1.8%	46,197	+4.8%	$2.6M
NVDANvidia Corporation	1.7%	1.7%	11,270	+0.0%	$2.6M
METAMeta Platforms Inc	1.7%	1.5%	3,521	+0.0%	$2.6M
AMZNAmazon Com Inc	1.7%	1.7%	9,955	+0.0%	$2.5M
OEFIshares Tr	1.6%	1.6%	6,100	+0.0%	$2.3M
SOSouthern Co	1.5%	2.0%	27,865	-0.1%	$2.3M
JNJJohnson & Johnson	1.5%	1.6%	8,600	+0.0%	$2.3M
CVXChevron Corporation	1.5%	1.0%	11,069	+37.2%	$2.3M
VZVerizon Communications Inc	1.5%	1.6%	48,536	-4.6%	$2.2M
EOGEog Res Inc	1.5%	1.3%	16,060	+22.1%	$2.2M
ADMArcher Daniels Midland Co	1.3%	1.2%	23,810	+14.4%	$1.9M
EBAYEbay Inc.	1.2%	1.4%	17,545	+0.0%	$1.9M
BSMBlack Stone Minerals L P	1.2%	1.0%	121,562	+21.5%	$1.7M
TKOTko Group Holdings Inc	1.2%	1.4%	9,595	+0.0%	$1.7M
DUKDuke Energy Corp New	1.1%	1.4%	14,986	+0.0%	$1.7M
ABBVAbbvie Inc	1.0%	1.1%	5,899	+0.0%	$1.5M
DVNDevon Energy Corp New	1.0%	—	32,700	—	$1.5M
EWSIshares Inc Msci Singpor	1.0%	1.0%	45,095	+0.0%	$1.5M
PMPhilip Morris Intl Inc	1.0%	1.0%	7,829	+0.0%	$1.5M
EWJIshares Inc	1.0%	1.0%	14,760	+0.0%	$1.4M
PEPPepsico Inc	0.9%	1.1%	10,665	+0.0%	$1.4M
ILFIshares S & P Latin America 40 Index Fun	0.9%	0.9%	38,250	+0.0%	$1.3M
BMYBristol-Myers Squibb Co	0.8%	0.8%	19,851	+0.0%	$1.2M
PFEPfizer Inc	0.8%	0.7%	42,620	+13.1%	$1.2M
TGTTarget Corp	0.8%	0.7%	7,697	+0.0%	$1.2M
MCDMcdonalds Corp	0.8%	1.7%	5,145	-40.2%	$1.2M
ETPCEnergy Transfer L P	0.8%	0.8%	59,475	+2.1%	$1.2M
ORCLOracle Corp	0.8%	0.9%	8,245	+0.0%	$1.1M
EWZIshares Inc	0.7%	0.7%	26,250	+0.0%	$978K
SLVIshares Silver Tr	0.6%	0.7%	17,075	+0.0%	$931K
GPCGenuine Parts Co	0.6%	0.6%	6,977	+0.0%	$877K
COPConocophillips	0.6%	—	6,950	—	$870K
SBRSabine Rty Tr	0.6%	0.6%	11,985	+0.0%	$829K
KOCoca Cola Co	0.5%	0.6%	9,451	+0.0%	$814K
MOAltria Group Inc	0.5%	0.6%	11,597	+0.0%	$781K
FNVFranco Nev Corp	0.5%	—	13,205	—	$750K
MRKMerck & Co Inc	0.5%	—	5,095	—	$740K
DDominion Energy Inc	0.5%	0.6%	12,050	+0.0%	$729K

What Rahlfs Capital, LLC bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

JPST J P Morgan Exchange Traded F+55.0% shares
CVX Chevron Corporation+37.2% shares
EOG Eog Res Inc+22.1% shares
BSM Black Stone Minerals L P+21.5% shares
APA Apa Corporation+21.2% shares
ADM Archer Daniels Midland Co+14.4% shares
NEM Newmont Corp+13.9% shares
PFE Pfizer Inc+13.1% shares

Reduced

MCD Mcdonalds Corp-40.2% shares
GOOGL Alphabet Inc-6.4% shares

Left the top 50

Share counts compared with the Q2 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +17.0% /yr; S&P 500 +20.1%
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$149.7M	89
Q2 2026	$136.2M	86
Q1 2026	$136.1M	86
Q4 2025	$128.8M	84
Q3 2025	$126.4M	88
Q2 2025	$109.2M	89
Q1 2025	$99.9M	76
Q4 2024	$100.9M	78

Questions about Rahlfs Capital, LLC's portfolio

What stocks does Rahlfs Capital, LLC own?

Rahlfs Capital, LLC's latest 13F, for Q3 2026 and filed Oct 23, 2026, lists 89 positions worth $149.7M. The largest are J P Morgan Exchange Traded F (JPST) at 10.5%, Apple Inc (AAPL) at 8.1%, Microsoft Corp (MSFT) at 5.1%, Berkshire Hathaway Inc Del (BRK-B) at 5.0% and Alphabet Inc (GOOGL) at 4.3%.

What did Rahlfs Capital, LLC buy last quarter?

In Q3 2026, Rahlfs Capital, LLC added J P Morgan Exchange Traded F (JPST) (+55.0% shares), Chevron Corporation (CVX) (+37.2% shares) and Eog Res Inc (EOG) (+22.1% shares), compared with its Q2 2026 filing.

What did Rahlfs Capital, LLC sell last quarter?

In Q3 2026, Rahlfs Capital, LLC cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Comstock Res Inc (CRK), cut from its top 50 Goldman Sachs Group Inc (GS), cut from its top 50 Uber Technologies Inc (UBER), cut from its top 50 Liberty Media Corp Del (FWONK), Mcdonalds Corp (MCD) (-40.2% shares) and Alphabet Inc (GOOGL) (-6.4% shares), compared with its Q2 2026 filing.

When is Rahlfs Capital, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Rahlfs Capital, LLC's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.

How much money does Rahlfs Capital, LLC manage?

Rahlfs Capital, LLC reported $271.6M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $149.7M.