Managers / Q3 2025 · view latest →

Ulland Investment Advisors, LLC

CIK 0001911497 · 80 SOUTH 8TH ST., 4550 IDS CENTER, MINNEAPOLIS, MN, 55402 · 6123121400

Reported Value

$133M

Q3 2025

Positions

228

Filings on Record

2019–present window

Filed

Nov 13, 2025

original filing

Summary

Ulland Investment Advisors, LLC reported $133M in U.S.-listed holdings across 228 positions for Q3 2025.

Its largest position, GOOG, represents 11.4% of the portfolio.

Compared with Q2 2025, the fund opened 31 new positions and exited 16.

Portfolio Metrics

Turnover

+9.5%

vs prior filed quarter

Top-10 Concentration

+57.5%

share of reported value

Largest Position

+11.4%

Alphabet

New / Exited

31 / 16

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

Common Stock · 70.0% · $93M
ETP · 28.1% · $37M
REIT · 0.9% · $1M
MLP · 0.5% · $624,000
PUBLIC · 0.3% · $374,000
Other · 0.3% · $351,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
PAA Plains All American Pipeline, L.P.	NEW	+6.0K	6.0K	+$102,000	$102,000
SUN Sunoco L.P.	NEW	+2.0K	2.0K	+$100,000	$100,000
EPD Enterprise Products Partners L.P.	NEW	+3.2K	3.2K	+$100,000	$100,000
Alvotech	NEW	+11.3K	11.3K	+$92,000	$92,000
SCHF Schwab International Equity ETF	NEW	+3.4K	3.4K	+$78,000	$78,000
VIG Vanguard Dividend Appreciation Index Fund ETF	NEW	+240	240	+$52,000	$52,000
VO Vanguard Mid-Cap Index Fund ETF	NEW	+124	124	+$36,000	$36,000
BX Blackstone Inc.	NEW	+124	124	+$21,000	$21,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

226 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	GOOG Alphabet, Inc.	Stock	11.44%	$15M	62.5K
2	NVDA NVidia Corporation history →	Stock	9.64%	$13M	68.6K
3	META Meta Platforms, Inc.history →	Stock	6.41%	$9M	11.6K
4	AXON Axon Enterprise, Inc.history →	Stock	5.76%	$8M	10.7K
5	VRT Vertiv Holdings, Co.history →	Stock	4.82%	$6M	42.4K
6	QQQ Invesco QQQ Trust ETF history →	ETF	4.80%	$6M	10.6K
7	JEPI J.P. Morgan Equity Premium Income ETF history →	ETF	3.92%	$5M	91.1K
8	AMZN Amazon.com, Inc.history →	Stock	3.84%	$5M	23.2K
9	J.P. Morgan Nasdaq Equity Premium Income ETF	ETF	3.80%	$5M	87.7K
10	BRK/A Berkshire Hathaway Inc.	Stock	3.05%	$4M	2.0K
11	AAPL Apple, Inc.history →	Stock	2.81%	$4M	14.6K
12	SKY Skyline Champion Corporation history →	Stock	2.68%	$4M	46.7K
13	MSFT Microsoft Corporation history →	Stock	2.02%	$3M	5.2K
14	UNH UnitedHealth Group, Inc.history →	Stock	1.96%	$3M	7.5K
15	V Visa, Inc.history →	Stock	1.93%	$3M	7.5K
16	SCHM Schwab U.S. Mid-Cap ETF history →	ETF	1.90%	$3M	85.0K
17	LOW Lowe's Companies, Inc.history →	Stock	1.71%	$2M	9.0K
18	J.P. Morgan U.S. Tech Leaders ETF	ETF	1.55%	$2M	22.4K
19	SPY SPDR S&P 500 ETF history →	ETF	1.44%	$2M	2.9K
20	SMMD iShares Russell 2500 ETF history →	ETF	1.00%	$1M	18.1K
21	IGV iShares Expanded Tech-Software Sector ETF	ETF	0.99%	$1M	11.5K
22	SCHX Schwab U.S. Large-Cap ETF	ETF	0.96%	$1M	48.3K
23	BSX Boston Scientific Group	Stock	0.95%	$1M	13.0K
24	QYLD Global X NASDAQ 100 Covered Call ETF	ETF	0.93%	$1M	72.9K
25	CVLT Commvault Systems, Inc.	Stock	0.84%	$1M	5.9K
26	SNPS Synopsys, Inc.	Stock	0.83%	$1M	2.2K
27	ICE Intercontinental Exchange, Inc.	Stock	0.80%	$1M	6.3K
28	IUSG iShares Core S&P U.S. Growth ETF	ETF	0.78%	$1M	6.3K
29	UMH UMH Properties, Inc.	REIT	0.66%	$882,000	59.4K
30	VOO Vanguard S&P 500 ETF	ETF	0.65%	$865,000	1.4K
31	GPIX Goldman Sachs S&P 500 Core Premium Income ETF	ETF	0.58%	$775,000	14.8K
32	WFC Wells Fargo Capital 7.50	Convertible Preferred	0.56%	$746,000	604
33	DSI iShares MSCI KLD 400 Social ETF	ETF	0.55%	$737,000	5.8K
34	AMLP Alerian MLP ETF	ETF	0.54%	$717,000	15.3K
35	COST Costco Wholesale Corporation	Stock	0.50%	$662,000	715
36	EXMOC Exxon Mobil Corporation	Stock	0.46%	$607,000	5.4K
37	INTU Intuit, Inc.	Stock	0.43%	$569,000	833
38	JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	ETF	0.40%	$537,000	5.7K
39	SUSA iShares MSCI USA ESG Select ETF	ETF	0.40%	$526,000	3.9K
40	AMKR Amkor Technology, Inc.	Stock	0.39%	$519,000	18.3K
41	VMD Viemed Healthcare, Inc.	Stock	0.37%	$496,000	73.1K
42	CRWD CrowdStrike Holdings, Inc.	Stock	0.36%	$481,000	980
43	XLE Energy Select Sector SPDR Fund	ETF	0.29%	$382,000	4.3K
44	Microstrategy, Inc. 8.00	Convertible Preferred	0.28%	$374,000	4.1K
45	RTX Raytheon Technologies	Stock	0.28%	$373,000	2.2K
46	XYZ Block, Inc.	Stock	0.26%	$346,000	4.8K
47	AVGO Broadcom, Inc.	Stock	0.25%	$335,000	1.0K
48	IWF iShares Russell 1000 Growth ETF	ETF	0.25%	$329,000	703
49	ECL Ecolab, Inc.	Stock	0.23%	$311,000	1.1K
50	PSI Invesco Dynamic Semiconductors ETF	ETF	0.23%	$309,000	4.4K
51	LNTH Lantheus Holdings, Inc.	Stock	0.23%	$309,000	6.0K
52	LH Laboratory Corporation of America Holdings	Stock	0.23%	$299,000	1.0K
53	IWR iShares Russell Mid-Cap ETF	ETF	0.22%	$292,000	3.0K
54	JNJ Johnson & Johnson	Stock	0.21%	$279,000	1.5K
55	PM Philip Morris International, Inc.	Stock	0.16%	$213,000	1.3K
56	SCHD Schwab US Dividend ETF	ETF	0.16%	$209,000	7.7K
57	SCHW Charles Schwab Corporation	Stock	0.16%	$207,000	2.2K
58	BDX Becton, Dickinson and Company	Stock	0.16%	$206,000	1.1K
59	CAT Caterpillar, Inc.	Stock	0.15%	$198,000	415
60	RSP Invesco S&P 500 Equal Weight ETF	ETF	0.15%	$194,000	1.0K
61	PG Procter & Gamble Corporation	Stock	0.14%	$181,000	1.2K
62	ET Energy Transfer LP	Stock	0.13%	$172,000	10.0K
63	URA Global X Uranium ETF	ETF	0.13%	$170,000	3.6K
64	VICI VICI Properties, Inc.	REIT	0.13%	$169,000	5.2K
65	GS Goldman Sachs Group, Inc.	Stock	0.12%	$159,000	200
66	LLY Eli Lilly and Company	Stock	0.12%	$158,000	207
67	YETH Roundhill Ether Covered Call Strategy ETF	ETF	0.12%	$157,000	5.9K
68	J.P. Morgan Hedged Equity Laddered Overlay ETF	ETF	0.12%	$154,000	2.4K
69	HCA HCA Healthcare, Inc.	Stock	0.12%	$153,000	360
70	MPLX Mplx, LP	Stock	0.11%	$150,000	3.0K
71	TSM Taiwan Semiconductor Manufacturing Company Limited	ADR	0.11%	$146,000	521
72	VB Vanguard Small Cap ETF	ETF	0.11%	$141,000	555
73	ADBE Adobe Systems, Inc.	Stock	0.11%	$140,000	398
74	PANW Palo Alto Networks, Inc.	Stock	0.10%	$138,000	678
75	ISRG Intuitive Surgical, Inc.	Stock	0.10%	$134,000	300
76	CARR Carrier Global Corporation	Stock	0.10%	$129,000	2.2K
77	GNRC Generac Holdings Inc.	Stock	0.10%	$127,000	761
78	WFC Wells Fargo & Company	Stock	0.09%	$120,000	1.4K
79	RYLD Global X Russell 2000 Covered Call ETF	ETF	0.09%	$120,000	8.0K
80	VTV Vanguard Value Index Fund ETF	ETF	0.09%	$118,000	635
81	SYK Stryker Corporation	Stock	0.09%	$118,000	320
82	CVX Chevron Corporation	Stock	0.08%	$111,000	718
83	TSLA Tesla Motors, Inc.	Stock	0.08%	$111,000	250
84	PGR The Progressive Corporation	Stock	0.08%	$105,000	425
85	BKNG Booking Holdings Inc.	Stock	0.08%	$103,000	19
86	VTI Vanguard Total Stock Market ETF	ETF	0.08%	$103,000	315
87	PAA Plains All American Pipeline, L.P.	Stock	0.08%	$102,000	6.0K
88	OTIS Otis Worldwide Corporation	Stock	0.08%	$102,000	1.1K
89	MRVL Marvell Technology, Inc.	Stock	0.08%	$101,000	1.2K
90	EPD Enterprise Products Partners L.P.	Stock	0.08%	$100,000	3.2K
91	SUN Sunoco L.P.	Stock	0.08%	$100,000	2.0K
92	JPM J.P. Morgan Chase & Co.	Stock	0.07%	$93,000	296
93	XLV Health Care Select Sector SPDR Fund	ETF	0.07%	$93,000	670
94	Alvotech	Stock	0.07%	$92,000	11.3K
95	MMM 3M Company	Stock	0.07%	$91,000	585
96	NSC Norfolk Southern Corporation	Stock	0.07%	$90,000	300
97	BTCC Grayscale Funds Trust Grayscale ETF	ETF	0.06%	$84,000	2.7K
98	QFLR Innovator Nasdaq-100 Managed Floor ETF	ETF	0.06%	$83,000	2.5K
99	MRK Merck & Co., Inc.	Stock	0.06%	$80,000	957
100	SCHF Schwab International Equity ETF	ETF	0.06%	$78,000	3.4K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$117M	213	Apr 27, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$125M	218	Jan 8, 2026	13F-HR	changes · EDGAR ↗
Q3 2025	$133M	228	Nov 13, 2025	13F-HR	changes · EDGAR ↗
Q2 2025	$131M	213	Jul 24, 2025	13F-HR	changes · EDGAR ↗
Q1 2025	$120M	225	Apr 15, 2025	13F-HR	changes · EDGAR ↗
Q4 2024	$157M	212	Jan 16, 2025	13F-HR	changes · EDGAR ↗
Q3 2024	$137M	205	Oct 15, 2024	13F-HR	changes · EDGAR ↗
Q2 2024	$144M	223	Jul 16, 2024	13F-HR	changes · EDGAR ↗
Q1 2024	$125M	234	Apr 25, 2024	13F-HR	changes · EDGAR ↗
Q4 2023	$99M	211	Jan 16, 2024	13F-HR	changes · EDGAR ↗
Q3 2023	$91M	218	Oct 23, 2023	13F-HR	changes · EDGAR ↗
Q2 2023	$97M	218	Jul 20, 2023	13F-HR	changes · EDGAR ↗
Q1 2023	$85M	213	Apr 17, 2023	13F-HR	changes · EDGAR ↗
Q4 2022	$84M	222	Jan 31, 2023	13F-HR	changes · EDGAR ↗
Q3 2022	$92M	227	Oct 12, 2022	13F-HR	changes · EDGAR ↗
Q2 2022	$98M	254	Jul 25, 2022	13F-HR	changes · EDGAR ↗
Q1 2022	$133M	267	May 9, 2022	13F-HR	changes · EDGAR ↗
Q4 2021	$157M	226	Feb 16, 2022	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.