INTERCAPITAL, LLC

Reported holdings as of Q2 2026, from 3 quarterly filings.

CIK

2108411

Reported value

$400.6M

Positions

Top 10 weight

51.9%

Filed

2026-08-14

Days after quarter end

Holdings

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
AMAZON COM INC OPT	AMZN	$61.7M	64,000	15.40%	+11.30pp	3q	+8.5%+$4.8M
MICROSOFT CORP OPT	MSFT	$28.0M	53,590	6.99%	-9.32pp	3q	+79.2%+$12.4M
NVIDIA CORPORATION OPT	NVDA	$26.6M	48,406	6.64%	+5.91pp	3q	+287.2%+$19.7M
REDDIT INC OPT	RDDT	$16.4M	89,000	4.09%	-0.43pp	3q	-9.6%-$1.8M
CREDO TECHNOLOGY GROUP HOLDI OPT	CRDO	$15.5M	55,500	3.86%	+3.23pp	2q	+174.5%+$9.8M
AFFIRM HLDGS INC OPT	AFRM	$14.5M	156,568	3.61%	-1.29pp	3q	-32.9%-$7.1M
BROADCOM INC OPT	AVGO	$11.8M	27,900	2.94%	+0.77pp	3q	+50.8%+$4.0M
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$11.6M	24,200	2.89%	+1.20pp	3q	+62.4%+$4.4M
COMPASS INC OPT	COMP	$11.0M	825,225	2.74%	+0.56pp	3q	-5.0%-$575.1K
SEA LTD OPT	SE	$10.9M	70,694	2.73%	+0.31pp	3q	+1.4%+$151.9K
STATE STR SPDR S&P 500 ETF T OPT	SPY	$10.5M	options only	2.61%	+2.13pp	2q	OPTIONS
DAVE INC OPT	DAVE	$10.1M	26,000	2.51%	+0.22pp	2q	-34.0%-$5.2M
BOEING CO OPT	BA	$9.8M	29,000	2.44%	-0.16pp	3q	-21.6%-$2.7M
ISHARES TR OPT	TLT	$9.5M	options only	2.37%	+0.35pp	3q	OPTIONS
DELL TECHNOLOGIES INC OPT	DELL	$8.8M	19,500	2.19%	-	new	NEW
FIGMA INC OPT	FIG	$7.8M	288,739	1.95%	+1.45pp	2q	+311.5%+$5.9M
COREWEAVE INC OPT	CRWV	$6.8M	36,500	1.70%	-	new	NEW
MERCADOLIBRE INC	MELI	$5.2M	3,080	1.31%	-2.30pp	3q	-46.4%-$4.5M
NETFLIX INC OPT	NFLX	$5.2M	32,000	1.30%	-	new	NEW
COCA COLA CO OPT	KO	$5.2M	options only	1.30%	-	new	OPTIONS
CELSIUS HLDGS INC OPT	CELH	$4.8M	150,000	1.21%	-	new	NEW
TAKE-TWO INTERACTIVE SOFTWAR OPT	TTWO	$4.8M	9,100	1.19%	-	new	NEW
ALIBABA GROUP HLDG LTD OPT	BABA	$4.6M	15,000	1.15%	+0.69pp	3q	+36.4%+$1.2M
VANECK ETF TRUST OPT	SMH	$4.6M	options only	1.15%	-0.13pp	3q	OPTIONS
TESLA INC OPT	TSLA	$3.6M	options only	0.89%	-0.10pp	2q	OPTIONS
ALPHABET INC OPT	GOOG	$3.5M	options only	0.88%	-	new	OPTIONS
WYNN RESORTS LTD OPT	WYNN	$3.3M	24,000	0.82%	-	new	NEW
ROCKET COS INC OPT	RKT	$3.1M	154,840	0.79%	+0.60pp	3q	+305.9%+$2.4M
COMSTOCK RES INC OPT	CRK	$3.0M	182,000	0.75%	-	new	NEW
INVESCO QQQ TR OPT	QQQ	$2.9M	options only	0.74%	-	new	OPTIONS
OUSTER INC OPT	OUST	$2.9M	32,000	0.72%	-	new	NEW
DUOLINGO INC OPT	DUOL	$2.4M	18,000	0.59%	-3.28pp	2q	-70.0%-$5.5M
SHOPIFY INC	SHOP	$2.4M	20,595	0.59%	-0.15pp	3q	+10.8%+$228.4K
MICRON TECHNOLOGY INC	MU	$2.3M	2,000	0.58%	+0.07pp	3q	-55.6%-$2.9M
ON HLDG AG	ONON	$2.3M	64,500	0.57%	+0.25pp	3q	+126.3%+$1.3M
ORACLE CORP OPT	ORCL	$2.3M	options only	0.57%	-1.67pp	3q	OPTIONS
LPL FINL HLDGS INC	LPLA	$2.3M	8,000	0.56%	-0.24pp	2q	HELD
ZILLOW GROUP INC OPT	Z	$2.2M	48,000	0.56%	-	new	NEW
LULULEMON ATHLETICA INC OPT	LULU	$2.2M	options only	0.56%	-6.25pp	3q	OPTIONS
ADVANCED MICRO DEVICES INC	AMD	$2.2M	3,800	0.55%	-	new	NEW
SPDR SERIES TRUST OPT	XSD	$2.2M	options only	0.54%	-	new	OPTIONS
VISTRA CORP	VST	$2.0M	12,900	0.51%	-	new	NEW
JPMORGAN CHASE & CO	JPM	$2.0M	6,000	0.49%	-0.30pp	2q	-25.0%-$654.7K
NIKE INC OPT	NKE	$1.9M	options only	0.48%	-0.40pp	3q	OPTIONS
CROWDSTRIKE HLDGS INC OPT	CRWD	$1.9M	options only	0.48%	-	new	OPTIONS
HESAI GROUP OPT	HSAI	$1.8M	54,710	0.45%	-	new	NEW
APPLOVIN CORP	APP	$1.8M	3,500	0.45%	+0.05pp	3q	+16.7%+$257.6K
DUTCH BROS INC	BROS	$1.8M	25,000	0.45%	+0.04pp	3q	+4.4%+$75.8K
WALMART INC OPT	WMT	$1.8M	options only	0.44%	+0.36pp	3q	OPTIONS
META PLATFORMS INC OPT	META	$1.7M	options only	0.42%	+0.33pp	3q	OPTIONS
CATERPILLAR INC OPT	CAT	$1.6M	options only	0.40%	-	new	OPTIONS
RTX CORPORATION	RTX	$1.5M	8,050	0.38%	-0.04pp	2q	+23.8%+$294.1K
CISCO SYS INC OPT	CSCO	$1.5M	options only	0.38%	-	new	OPTIONS
MCDONALDS CORP OPT	MCD	$1.5M	options only	0.37%	-	new	OPTIONS
KRANESHARES TRUST	KWEB	$1.5M	60,000	0.37%	-	new	NEW
WESTERN DIGITAL CORP OPT	WDC	$1.4M	1,650	0.36%	-0.50pp	3q	-63.3%-$2.5M
ALPHABET INC OPT	GOOGL	$1.4M	options only	0.36%	-	new	OPTIONS
EXELON CORP	EXC	$1.4M	30,000	0.35%	-	new	NEW
VENTURE GLOBAL INC OPT	VG	$1.4M	67,471	0.35%	-0.40pp	2q	-44.9%-$1.1M
RIVIAN AUTOMOTIVE INC OPT	RIVN	$1.3M	10,000	0.32%	-1.61pp	3q	-95.6%-$27.3M
CIRCLE INTERNET GROUP INC	CRCL	$1.3M	20,000	0.31%	-1.61pp	2q	-65.0%-$2.3M
CONSTELLATION ENERGY CORP	CEG	$1.2M	5,000	0.31%	-	new	NEW
KKR & CO INC OPT	KKR	$1.1M	options only	0.28%	-0.35pp	2q	OPTIONS
HIMS & HERS HEALTH INC	HIMS	$1.1M	32,009	0.28%	-0.82pp	2q	-79.8%-$4.4M
SERVICENOW INC OPT	NOW	$1.1M	7,000	0.27%	-	new	NEW
BLACKSTONE INC	BX	$941.4K	8,000	0.23%	+0.04pp	2q	HELD
DIREXION SHARES ETF TRUST OPT	MSFU	$883.6K	options only	0.22%	+0.01pp	2q	OPTIONS
PDD HOLDINGS INC	PDD	$762.8K	10,000	0.19%	-0.11pp	3q	+13.6%+$91.5K
MODERNA INC OPT	MRNA	$735.3K	options only	0.18%	+0.12pp	3q	OPTIONS
NOVO-NORDISK A S OPT	NVO	$719.1K	options only	0.18%	-	new	OPTIONS
PELOTON INTERACTIVE INC	PTON	$709.2K	120,000	0.18%	+0.01pp	3q	HELD
SUPER MICRO COMPUTER INC OPT	SMCI	$586.6K	options only	0.15%	-	new	OPTIONS
STRATEGY INC OPT	MSTR	$582.4K	options only	0.15%	-	new	OPTIONS
BLOOM ENERGY CORP	BE	$575.7K	1,902	0.14%	+0.06pp	3q	HELD
ROBINHOOD MKTS INC OPT	HOOD	$501.4K	options only	0.13%	-0.25pp	2q	OPTIONS
HEXCEL CORP NEW	HXL	$500.3K	5,000	0.12%	-0.01pp	3q	HELD
ISHARES TR	FXI	$478.6K	15,150	0.12%	-0.21pp	3q	-44.2%-$379.1K
HUNTINGTON INGALLS INDS INC	HII	$475.8K	1,700	0.12%	-	new	NEW
STURM RUGER & CO INC	RGR	$458.0K	12,100	0.11%	-0.15pp	2q	-39.5%-$299.0K
APPLE INC OPT	AAPL	$434.0K	options only	0.11%	-0.80pp	3q	OPTIONS
ROCKET LAB CORP	RKLB	$406.6K	4,000	0.10%	-	new	NEW
ELI LILLY & CO	LLY	$359.8K	300	0.09%	flat	3q	HELD
KLARNA GROUP PLC	KLAR	$356.6K	17,618	0.09%	-0.04pp	2q	HELD
CARIS LIFE SCIENCES INC	CAI	$356.4K	20,000	0.09%	-	new	NEW
T1 ENERGY INC	TE	$331.8K	35,000	0.08%	-	new	NEW
SONY GROUP CORP	SONY	$300.9K	15,000	0.08%	-	new	NEW
ISHARES TR	MCHI	$279.3K	5,473	0.07%	-0.31pp	3q	-73.3%-$765.4K
PROLOGIS INC.	PLD	$270.9K	2,000	0.07%	-1.03pp	3q	-92.0%-$3.1M
KRANESHARES TRUST	KSTR	$270.1K	8,348	0.07%	-	new	NEW
ARM HOLDINGS PLC OPT	ARM	$212.7K	options only	0.05%	-	new	OPTIONS
IREN LIMITED OPT	IREN	$205.8K	options only	0.05%	-	new	OPTIONS
NEXTNAV INC	NN	$196.1K	11,000	0.05%	-	new	NEW

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Sector	Value	Share
Software & IT Services	$82.2M	20.5%
Semiconductors & Electronics	$71.3M	17.8%
Retail & Consumer	$69.0M	17.2%
Banks & Lending	$32.0M	8.0%
Business Services	$27.1M	6.8%
Autos & Aerospace	$17.2M	4.3%
Funds & ETFs	$13.4M	3.3%
Computer Hardware	$12.7M	3.2%
Real Estate	$11.2M	2.8%
Food, Drink & Tobacco	$10.0M	2.5%
Industrials	$7.5M	1.9%
Other sectors	$27.1M	6.8%
Not classified	$19.7M	4.9%

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$400.6M	92	37	16	23	37	51.9%	45
Q1 2026	$299.4M	92	41	13	27	26	52.6%	45
Q4 2025	$284.0M	77	0	0	0	0	60.4%	44

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.