Managers / Q1 2026

Ulland Investment Advisors, LLC

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

Reported Value

$117M

Q1 2026

Positions

213

Filings on Record

2019–present window

Filed

Apr 27, 2026

original filing

Summary

Ulland Investment Advisors, LLC reported $117M in U.S.-listed holdings across 213 positions for Q1 2026.

Its largest position, GOOG, represents 10.9% of the portfolio.

Compared with Q4 2025, the fund opened 6 new positions and exited 11.

Portfolio Metrics

Turnover

+3.5%

vs prior filed quarter

Top-10 Concentration

+54.6%

share of reported value

Largest Position

+10.9%

Alphabet

New / Exited

6 / 11

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 · 66.4% · $77M
ETP · 29.7% · $35M
MLP · 2.1% · $2M
REIT · 1.0% · $1M
Other · 0.3% · $336,000
Other · 0.5% · $551,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
WES Western Midstream Partners, LP	NEW	+12.0K	12.0K	+$494,000	$494,000
BSM Black Stone Minerals, L.P.	NEW	+20.0K	20.0K	+$302,000	$302,000
DMLP Dorchester Minerals, L.P.	NEW	+1.3K	1.3K	+$34,000	$34,000
Q Qnity Electronics, Inc.	NEW	+112	112	+$13,000	$13,000
SOLS Solstice Advanced Materials, Inc.	NEW	+35	35	+$3,000	$3,000
VXUS Vanguard Total International Stock ETF	NEW	+2	2	+$0	$0
DDOG Datadog, Inc.	ADDED	+685	850	+$78,000	$100,000
MRVL Marvell Technology, Inc.	ADDED	+5.8K	7.4K	+$594,000	$734,000

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

Holdings — Q1 2026

211 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	GOOG Alphabet, Inc.	Stock	10.90%	$13M	44.3K
2	NVDA NVidia Corporation history →	Stock	7.96%	$9M	53.2K
3	VRT Vertiv Holdings, Co.history →	Stock	5.81%	$7M	27.0K
4	META Meta Platforms, Inc.history →	Stock	5.30%	$6M	10.8K
5	QQQ Invesco QQQ Trust ETF history →	ETF	4.94%	$6M	10.0K
6	JEPI J.P. Morgan Equity Premium Income ETF history →	ETF	4.29%	$5M	88.3K
7	AXON Axon Enterprise, Inc.history →	Stock	4.15%	$5M	11.4K
8	J.P. Morgan Nasdaq Equity Premium Income ETF	ETF	4.09%	$5M	85.9K
9	AMZN Amazon.com, Inc.history →	Stock	3.85%	$4M	21.5K
10	BRK/A Berkshire Hathaway Inc.	Stock	3.29%	$4M	2.0K
11	AAPL Apple, Inc.history →	Stock	2.82%	$3M	13.0K
12	SKY Skyline Champion Corporation history →	Stock	2.82%	$3M	44.2K
13	SCHM Schwab U.S. Mid-Cap ETF history →	ETF	2.12%	$2M	79.9K
14	V Visa, Inc.history →	Stock	1.85%	$2M	7.2K
15	LOW Lowe's Companies, Inc.history →	Stock	1.70%	$2M	8.4K
16	MSFT Microsoft Corporation history →	Stock	1.60%	$2M	5.0K
17	SPY SPDR S&P 500 ETF history →	ETF	1.43%	$2M	2.6K
18	J.P. Morgan U.S. Tech Leaders ETF	ETF	1.42%	$2M	20.8K
19	UNH UnitedHealth Group, Inc.history →	Stock	1.40%	$2M	6.0K
20	ICE Intercontinental Exchange, Inc.history →	Stock	1.28%	$1M	9.5K
21	SMMD iShares Russell 2500 ETF history →	ETF	1.13%	$1M	17.3K
22	QYLD Global X NASDAQ 100 Covered Call ETF history →	ETF	1.03%	$1M	70.0K
23	SCHX Schwab U.S. Large-Cap ETF	ETF	0.98%	$1M	44.5K
24	UMH UMH Properties, Inc.	REIT	0.82%	$955,000	66.2K
25	IUSG iShares Core S&P U.S. Growth ETF	ETF	0.79%	$919,000	5.9K
26	GPIX Goldman Sachs S&P 500 Core Premium Income ETF	ETF	0.73%	$854,000	17.1K
27	VOO Vanguard S&P 500 ETF	ETF	0.72%	$843,000	1.4K
28	IGV iShares Expanded Tech-Software Sector ETF	ETF	0.71%	$825,000	10.3K
29	BSX Boston Scientific Group	Stock	0.69%	$809,000	12.9K
30	AMLP Alerian MLP ETF	ETF	0.69%	$805,000	15.3K
31	EXMOC Exxon Mobil Corporation	Stock	0.68%	$788,000	4.6K
32	SNPS Synopsys, Inc.	Stock	0.67%	$779,000	2.0K
33	MRVL Marvell Technology, Inc.	Stock	0.63%	$734,000	7.4K
34	DSI iShares MSCI KLD 400 Social ETF	ETF	0.57%	$667,000	5.5K
35	COST Costco Wholesale Corporation	Stock	0.53%	$615,000	617
36	XYZ Block, Inc.	Stock	0.51%	$598,000	9.9K
37	VMD Viemed Healthcare, Inc.	Stock	0.49%	$570,000	61.9K
38	GNRC Generac Holdings Inc.	Stock	0.46%	$537,000	2.8K
39	JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	ETF	0.45%	$529,000	5.7K
40	SUSA iShares MSCI USA ESG Select ETF	ETF	0.44%	$509,000	3.9K
41	XLE Energy Select Sector SPDR Fund	ETF	0.43%	$497,000	8.1K
42	WES Western Midstream Partners, LP	Stock	0.42%	$494,000	12.0K
43	RTX Raytheon Technologies	Stock	0.37%	$430,000	2.2K
44	MPLX Mplx, LP	Stock	0.37%	$428,000	7.5K
45	CRWD CrowdStrike Holdings, Inc.	Stock	0.35%	$412,000	1.1K
46	ET Energy Transfer LP	Stock	0.32%	$376,000	19.5K
47	PSI Invesco Dynamic Semiconductors ETF	ETF	0.32%	$369,000	3.9K
48	JNJ Johnson & Johnson	Stock	0.31%	$362,000	1.5K
49	INTU Intuit, Inc.	Stock	0.30%	$348,000	806
50	Alvotech	Stock	0.29%	$336,000	98.1K
51	LNTH Lantheus Holdings, Inc.	Stock	0.28%	$328,000	4.3K
52	AMKR Amkor Technology, Inc.	Stock	0.28%	$328,000	7.3K
53	SUN Sunoco L.P.	Stock	0.28%	$325,000	5.0K
54	CVLT Commvault Systems, Inc.	Stock	0.28%	$323,000	4.1K
55	AVGO Broadcom, Inc.	Stock	0.26%	$303,000	980
56	ECL Ecolab, Inc.	Stock	0.26%	$302,000	1.1K
57	BSM Black Stone Minerals, L.P.	Stock	0.26%	$302,000	20.0K
58	IWF iShares Russell 1000 Growth ETF	ETF	0.26%	$300,000	703
59	IWR iShares Russell Mid-Cap ETF	ETF	0.25%	$294,000	3.0K
60	Microstrategy, Inc. 8.00	Convertible Preferred	0.25%	$288,000	4.1K
61	LH Laboratory Corporation of America Holdings	Stock	0.24%	$278,000	1.0K
62	EPD Enterprise Products Partners L.P.	Stock	0.23%	$265,000	7.0K
63	CAT Caterpillar, Inc.	Stock	0.21%	$248,000	350
64	PAA Plains All American Pipeline, L.P.	Stock	0.19%	$223,000	10.0K
65	PM Philip Morris International, Inc.	Stock	0.19%	$217,000	1.3K
66	RSP Invesco S&P 500 Equal Weight ETF	ETF	0.16%	$188,000	980
67	LLY Eli Lilly and Company	Stock	0.16%	$184,000	200
68	SCHW Charles Schwab Corporation	Stock	0.16%	$182,000	1.9K
69	KMB Kimberly-Clark Corporation	Stock	0.15%	$178,000	1.8K
70	PANW Palo Alto Networks, Inc.	Stock	0.15%	$174,000	1.1K
71	URA Global X Uranium ETF	ETF	0.15%	$173,000	3.6K
72	HCA HCA Healthcare, Inc.	Stock	0.15%	$170,000	360
73	PG Procter & Gamble Corporation	Stock	0.15%	$170,000	1.2K
74	GS Goldman Sachs Group, Inc.	Stock	0.14%	$169,000	200
75	VICI VICI Properties, Inc.	REIT	0.14%	$165,000	6.0K
76	TSM Taiwan Semiconductor Manufacturing Company Limited	ADR	0.13%	$157,000	466
77	J.P. Morgan Hedged Equity Laddered Overlay ETF	ETF	0.13%	$155,000	2.4K
78	VB Vanguard Small Cap ETF	ETF	0.12%	$145,000	555
79	CVX Chevron Corporation	Stock	0.12%	$145,000	700
80	ISRG Intuitive Surgical, Inc.	Stock	0.12%	$138,000	300
81	IQQQ ProShares Nasdaq-100 High Income ETF	ETF	0.11%	$131,000	3.1K
82	RYLD Global X Russell 2000 Covered Call ETF	ETF	0.11%	$124,000	8.3K
83	VTV Vanguard Value Index Fund ETF	ETF	0.11%	$123,000	626
84	CARR Carrier Global Corporation	Stock	0.10%	$122,000	2.2K
85	WFC Wells Fargo Capital 7.50	Convertible Preferred	0.10%	$118,000	102
86	MRK Merck & Co., Inc.	Stock	0.10%	$115,000	957
87	WFC Wells Fargo & Company	Stock	0.09%	$109,000	1.4K
88	DDOG Datadog, Inc.	Stock	0.09%	$100,000	850
89	XLV Health Care Select Sector SPDR Fund	ETF	0.08%	$98,000	670
90	VTI Vanguard Total Stock Market ETF	ETF	0.08%	$96,000	298
91	BUG Global X Cybersecurity	ETF	0.08%	$90,000	3.6K
92	SCCO Southern Copper Corporation	Stock	0.07%	$87,000	503
93	CCJ Cameco Corporation	Stock	0.07%	$87,000	800
94	NSC Norfolk Southern Corporation	Stock	0.07%	$86,000	300
95	OTIS Otis Worldwide Corporation	Stock	0.07%	$85,000	1.1K
96	MMM 3M Company	Stock	0.07%	$85,000	585
97	PGR The Progressive Corporation	Stock	0.07%	$84,000	425
98	QFLR Innovator Nasdaq-100 Managed Floor ETF	ETF	0.07%	$83,000	2.5K
99	BKNG Booking Holdings Inc.	Stock	0.07%	$80,000	19
100	JPM J.P. Morgan Chase & Co.	Stock	0.06%	$74,000	253

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 ↗.