L2 Asset Management, LLC

Hedge Fund • Long/Short

L2 Asset Management, LLC is a Long/Short Hedge Fund led by Matthew Justin Malgari, reporting $819.6M in AUM as of Q3 2025 with SGOV as the largest holding (4% allocation).

Managing PartnerMatthew Justin Malgari

Portfolio Value: $683.4M
Positions: 357
Top Holding: SGOV at 3.53%
Last Reported: Q3 2025

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Top Holdings

Largest long holdings in L2 Asset Management, LLC's portfolio (23.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares 0-3 Month Treasury Bond SGOV	ETF ETF	$24.1M	3.53%	+$1.4M Bought	— 239.5K shares	Q4 2024 Held for 11 months
2 Nvidia NVDA	Semiconductors Technology	$20.6M	3.01%	+$995.6K Bought	0.00% 110.4K shares	Q2 2021 Held for 4y 5m
3 Microsoft MSFT	Software - Infrastructure Technology	$18.2M	2.67%	-$559.4K Sold	0.00% 35.2K shares	Q4 2019 Held for 5y 11m
4 Apple AAPL	Consumer Electronics Technology	$17.6M	2.57%	-$167.3K Sold	0.00% 69.1K shares	Q4 2019 Held for 5y 11m
5 Schwab 5-10 Year Corporate Bond SCHI	ETF ETF	$15.0M	2.20%	-$16.3K Sold	— 651.1K shares	Q4 2024 Held for 11 months
6 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$14.9M	2.17%	-$249.7K Sold	0.00% 20.2K shares	Q4 2019 Held for 5y 11m
7 Simplify MBS MTBA	ETF ETF	$13.4M	1.96%	+$2.5M Bought	— 265.4K shares	Q4 2024 Held for 11 months
8 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$13.3M	1.95%	+$8.8M Bought	0.00% 26.5K shares	Q1 2021 Held for 4y 8m
9 Janus Henderson AAA CLO JAAA	ETF ETF	$12.7M	1.85%	+$2.0M Bought	— 249.3K shares	Q4 2024 Held for 11 months
10 Vanguard Tax-Exempt Bond Index Fund VTEB	ETF ETF	$12.2M	1.79%	+$3.1M Bought	— 244.1K shares	Q4 2024 Held for 11 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in L2 Asset Management, LLC's latest filing

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Market Value

$683.4M

Prior: $610.9M

Q/Q Change

+11.87%

+$72.5M

Net Flows % of MV

+4.07%

Turnover Ratio

13.75%

New Purchases

33 stocks

$25.6M

Added To

253 stocks

+$83.5M

Sold Out Of

41 stocks

$39.8M

Reduced Holdings

62 stocks

-$41.5M

Increased Positions

Position	Shares Δ	Change
1 PREF Principal Spectrum Preferred Securities Active PREF	New	0 → 261.4K +$5.0M
2 AAM Low Duration Preferred and Income Securities PFLD	New	0 → 249.3K +$4.9M
3 Exelixis EXEL	New	0 → 81.5K +$3.4M
4 AngloGold Ashanti AU	New	0 → 24.2K +$1.7M
5 IBTO iShares iBonds Dec 2033 Term Treasury IBTO	New	0 → 47.0K +$1.2M

Decreased Positions

Position	Shares Δ	Change
1 American Century Quality Preferred ETF QPFF	Sold	134.3K → 0 −$4.7M
2 VanEck Preferred Securities ex Financials PFXF	Sold	267.0K → 0 −$4.6M
3 Vanguard S&P 500 ETF VOO	Sold	6.3K → 0 −$3.6M
4 Autoliv ALV	Sold	22.9K → 0 −$2.6M
5 XP Inc. XP	Sold	81.5K → 0 −$1.6M

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Analytics

Portfolio insights and performance metrics for L2 Asset Management, LLC

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Sector Allocation

Technology

27.60%

ETF

23.00%

Financial Services

11.90%

Consumer Cyclical

8.50%

Communication Services

7.70%

Healthcare

7.00%

Industrials

3.60%

Energy

3.30%

Consumer Defensive

3.00%

Basic Materials

1.90%

Utilities

1.30%

Real Estate

0.60%

Market Cap Distribution

Mega Cap (> $200B)

29.00%

Large Cap ($10B - $200B)

44.56%

Mid Cap ($2B - $10B)

2.91%

Small Cap ($300M - $2B)

0.02%

Micro Cap ($50M - $300M)

0.01%

Nano Cap (< $50M)

0.20%

N/A (ETF or Unknown)

23.31%

Portfolio Concentration

Top 10 Holdings %

23.7%

Top 20 Holdings %

36.01%

Top 50 Holdings %

62.07%

Top 100 Holdings %

80.35%