# EDGAR Filing Document

**Accession Number:** 0002056410
**File Stem:** 0002056410-26-000002
**Filing Date:** 2026-5
**Character Count:** 11791
**Document Hash:** 24b832f24bb1fc05f756bf02cc92b11d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002056410-26-000002.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0002056410-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RAHLFS CAPITAL, LLC
- **CENTRAL INDEX KEY:** 0002056410

**ORGANIZATION NAME:**
- **EIN:** 770594969
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-25000
- **FILM NUMBER:** 26962680

**BUSINESS ADDRESS:**
- **STREET 1:** 1034 KIOWA DRIVE EAST
- **CITY:** LAKE KIOWA
- **STATE:** TX
- **ZIP:** 76240
- **BUSINESS PHONE:** 214-460-3992

**MAIL ADDRESS:**
- **STREET 1:** 1034 KIOWA DRIVE EAST
- **CITY:** LAKE KIOWA
- **STATE:** TX
- **ZIP:** 76240

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** RAHLFS CAPITAL LLC<br>**Address:** 1034 KIOWA DRIVE EAST<br>LAKE KIOWA, TX 76240

**Form 13F File Number:** 028-25000

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Brian Rahlfs<br>**Title:** Managing Principal<br>**Phone:** 214-460-3992

**Signature, Place, and Date of Signing:**

Brian Rahlfs  Lake Kiowa, TX  05-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 86

**Form 13F Information Table Value Total:** $136105016

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABORATORIES | COM | 002824100 |  | 856268 | 8340 | SH |  | SOLE |  | 8340 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 1391719 | 6399 | SH |  | SOLE |  | 6399 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 512170 | 2107 | SH |  | SOLE |  | 2107 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1393496 | 6850 | SH |  | SOLE |  | 6850 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 208120 | 1897 | SH |  | SOLE |  | 1897 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 5304044 | 18445 | SH |  | SOLE |  | 18445 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 765286 | 11597 | SH |  | SOLE |  | 11597 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 1991061 | 9560 | SH |  | SOLE |  | 9560 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 295554 | 840 | SH |  | SOLE |  | 840 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 2491228 | 58700 | SH |  | SOLE |  | 58700 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 9369927 | 36920 | SH |  | SOLE |  | 36920 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1512679 | 20810 | SH |  | SOLE |  | 20810 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 252358 | 8705 | SH |  | SOLE |  | 8705 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 265688 | 5450 | SH |  | SOLE |  | 5450 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 7184166 | 14992 | SH |  | SOLE |  | 14992 | 0 | 0 |
| BLACK STONE MINERALS L P | COM UNIT | 09225M101 |  | 1512937 | 100062 | SH |  | SOLE |  | 100062 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 316426 | 5258 | SH |  | SOLE |  | 5258 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1203963 | 19851 | SH |  | SOLE |  | 19851 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 1669476 | 8069 | SH |  | SOLE |  | 8069 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 325878 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 718749 | 9451 | SH |  | SOLE |  | 9451 | 0 | 0 |
| COMSTOCK RES INC | COM | 205768302 |  | 1040298 | 49350 | SH |  | SOLE |  | 49350 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 538072 | 540 | SH |  | SOLE |  | 540 | 0 | 0 |
| COUPANG INC | CL A | 22266T109 |  | 642392 | 34025 | SH |  | SOLE |  | 34025 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 425893 | 5930 | SH |  | SOLE |  | 5930 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 574906 | 11425 | SH |  | SOLE |  | 11425 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 375882 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| DOLLAR GEN CORP | COM | 256677105 |  | 238054 | 2005 | SH |  | SOLE |  | 2005 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 744931 | 12050 | SH |  | SOLE |  | 12050 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 1962267 | 14986 | SH |  | SOLE |  | 14986 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 1420822 | 15610 | SH |  | SOLE |  | 15610 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 1123743 | 58225 | SH |  | SOLE |  | 58225 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 1775320 | 12280 | SH |  | SOLE |  | 12280 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 6129137 | 36126 | SH |  | SOLE |  | 36126 | 0 | 0 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 605058 | 10250 | SH |  | SOLE |  | 10250 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | FIRST TR ENH NEW | 33739Q408 |  | 469273 | 7850 | SH |  | SOLE |  | 7850 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 382928 | 1550 | SH |  | SOLE |  | 1550 | 0 | 0 |
| FREEPORT MCMORAN INC | CL B | 35671D857 |  | 203379 | 3460 | SH |  | SOLE |  | 3460 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 737818 | 6977 | SH |  | SOLE |  | 6977 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 592193 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 1622175 | 36759 | SH |  | SOLE |  | 36759 | 0 | 0 |
| ISHARES INC | MSCI HONG KG ETF | 464286871 |  | 330187 | 14300 | SH |  | SOLE |  | 14300 | 0 | 0 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 |  | 1246334 | 14760 | SH |  | SOLE |  | 14760 | 0 | 0 |
| ISHARES INC | MSCI SINGPOR ETF | 46434G780 |  | 1272581 | 45095 | SH |  | SOLE |  | 45095 | 0 | 0 |
| ISHARES INC | MSCI TAIWAN ETF | 46434G772 |  | 359919 | 5075 | SH |  | SOLE |  | 5075 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1112386 | 16325 | SH |  | SOLE |  | 16325 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 289175 | 8055 | SH |  | SOLE |  | 8055 | 0 | 0 |
| ISHARES TR | LATN AMER 40 ETF | 464287390 |  | 1358640 | 38250 | SH |  | SOLE |  | 38250 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 269619 | 1850 | SH |  | SOLE |  | 1850 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 1940227 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 2618446 | 46197 | SH |  | SOLE |  | 46197 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 12750177 | 251930 | SH |  | SOLE |  | 251930 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSN SHRT ETF | 47103U886 |  | 2687300 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2102184 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 226705 | 2350 | SH |  | SOLE |  | 2350 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 688662 | 8100 | SH |  | SOLE |  | 8100 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 210932 | 349 | SH |  | SOLE |  | 349 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 2846836 | 9160 | SH |  | SOLE |  | 9160 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 640544 | 5325 | SH |  | SOLE |  | 5325 | 0 | 0 |
| MEXICO FD INC | COM | 592835102 |  | 436914 | 20875 | SH |  | SOLE |  | 20875 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 5169424 | 13965 | SH |  | SOLE |  | 13965 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 2553076 | 23585 | SH |  | SOLE |  | 23585 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1965488 | 11270 | SH |  | SOLE |  | 11270 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1212922 | 8245 | SH |  | SOLE |  | 8245 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 387214 | 8561 | SH |  | SOLE |  | 8561 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 1656168 | 10665 | SH |  | SOLE |  | 10665 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 1058218 | 37686 | SH |  | SOLE |  | 37686 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1294447 | 7829 | SH |  | SOLE |  | 7829 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 397932 | 2755 | SH |  | SOLE |  | 2755 | 0 | 0 |
| SABINE RTY TR | UNIT BEN INT | 785688102 |  | 901454 | 11985 | SH |  | SOLE |  | 11985 | 0 | 0 |
| SAN JUAN BASIN RTY TR | UNIT BEN INT | 798241105 |  | 52800 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 444261 | 4777 | SH |  | SOLE |  | 4777 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 2692425 | 27895 | SH |  | SOLE |  | 27895 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 552789 | 850 | SH |  | SOLE |  | 850 | 0 | 0 |
| STELLAR BANCORP INC | COM | 858927106 |  | 277540 | 7581 | SH |  | SOLE |  | 7581 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 310128 | 2485 | SH |  | SOLE |  | 2485 | 0 | 0 |
| TAIWAN FD INC | COM | 874036106 |  | 230090 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 932876 | 7697 | SH |  | SOLE |  | 7697 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 1464695 | 3940 | SH |  | SOLE |  | 3940 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 2322497 | 11963 | SH |  | SOLE |  | 11963 | 0 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 1965079 | 9745 | SH |  | SOLE |  | 9745 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 704842 | 9799 | SH |  | SOLE |  | 9799 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 4061281 | 44255 | SH |  | SOLE |  | 44255 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 2554979 | 50896 | SH |  | SOLE |  | 50896 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 5843024 | 47015 | SH |  | SOLE |  | 47015 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 565865 | 7775 | SH |  | SOLE |  | 7775 | 0 | 0 |

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