Headlands Technologies LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Headlands Technologies LLC reported 1,142 stock positions worth $835.2 million. Its top holding was Nvidia (NVDA) at 9.6% of the portfolio, followed by Pepsico (PEP, 1.7%) and Danaher (DHR, 1.6%). Compared with Q1 2025, it opened 509 new positions, sold out of 468, added to 300 and reduced 323. The biggest buy was Nvidia (NVDA, shares +150%) and the biggest sale an exit from Alphabet Class C (GOOG).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001570271
- Portfolio Value
- $835.2M (Q2 2025)
- SEC Filing
- 0001570271-25-000011 ↗ filed Aug 14, 2025
Holdings Value
Holdings 1,142 stocks · $835.2M
| NVDA Nvidia Corp. | 9.64% | 509,789 | $80.5M | Add +150.1% |
| PEP Pepsico Inc. | 1.65% | 104,637 | $13.8M | Add +64.6% |
| DHR Danaher Corp. | 1.64% | 69,406 | $13.7M | Add +27.0% |
| BBAI Bigbear.ai Holdings Inc. | 1.60% | 1,962,073 | $13.3M | Add +210.8% |
| AMZN Amazon.com Inc. | 1.50% | 57,035 | $12.5M | Reduce -33.9% |
| HOOD Robinhood Markets Inc. Class A | 1.44% | 128,800 | $12.1M | Reduce -21.1% |
| FISV Fiserv Inc. | 1.44% | 69,585 | $12.0M | New |
| JPM JPMorgan Chase & Co. | 1.28% | 36,916 | $10.7M | Add +477.9% |
| MSFT Microsoft Corp. | 1.27% | 21,379 | $10.6M | New |
| ISRG Intuitive Surgical Inc. | 1.23% | 18,962 | $10.3M | Reduce -34.4% |
| UPS United Parcel Service Class B | 1.13% | 93,535 | $9.4M | New |
| OKLO Oklo Inc. | 1.12% | 167,247 | $9.4M | Reduce -23.6% |
| CMCSA Comcast Corp. Class A | 1.04% | 242,206 | $8.6M | Add +181.3% |
| ORCL Oracle Corp. | 1.02% | 38,919 | $8.5M | Add +9278.1% |
| TSLA Tesla Inc. | 0.99% | 25,916 | $8.2M | Reduce -31.3% |
| CSX CSX Corp. | 0.98% | 250,402 | $8.2M | Reduce -56.9% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.97% | 589,651 | $8.1M | Add +6750.8% |
| META Meta Platforms Inc. Class A | 0.94% | 10,592 | $7.8M | Reduce -78.7% |
| T AT&T Inc. | 0.90% | 259,108 | $7.5M | Add +1046.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.80% | 142,036 | $6.7M | Add +2.2% |
| REGN Regeneron Pharmaceuticals | 0.80% | 12,653 | $6.6M | Add +272.8% |
| PLTR Palantir Technologies Inc. Class A | 0.77% | 47,228 | $6.4M | Reduce -40.0% |
| IONQ Ionq Inc. | 0.77% | 148,875 | $6.4M | Add +46.9% |
| WTW Willis Towers Watson PLC | 0.75% | 20,560 | $6.3M | Add +10.5% |
| KDP Keurig Dr Pepper Inc. | 0.75% | 190,139 | $6.3M | Reduce -6.1% |
| PYPL PayPal Holdings Inc. | 0.75% | 84,499 | $6.3M | Reduce -34.5% |
| TMO Thermo Fisher Scientific Inc. | 0.65% | 13,360 | $5.4M | Add +114.3% |
| SMR Nuscale Power Corp. | 0.65% | 136,444 | $5.4M | Reduce -31.3% |
| QBTS D-Wave Quantum Inc. | 0.63% | 360,817 | $5.3M | Reduce -60.2% |
| ASTS Ast Spacemobile Inc. | 0.63% | 112,825 | $5.3M | Add +7.4% |
| BTI British American Tob-SP ADR | 0.63% | 110,340 | $5.2M | Add +18891.4% |
| ADSK Autodesk Inc. | 0.62% | 16,758 | $5.2M | Reduce -18.5% |
| BSX Boston Scientific Corp. | 0.62% | 47,955 | $5.2M | Add +146.2% |
| QUBT Quantum Computing Inc. | 0.62% | 268,299 | $5.1M | Add +126456.1% |
| AAPL Apple Inc. | 0.61% | 24,865 | $5.1M | New |
| ICLR Icon PLC | 0.59% | 33,780 | $4.9M | Add +242.7% |
| K Kellanova | 0.59% | 61,527 | $4.9M | Add +30.2% |
| RBLX Roblox Corp. Class A | 0.57% | 44,999 | $4.7M | Add +4515.3% |
| XLV SS Health Care Select Sector | 0.52% | 32,425 | $4.4M | Add +401.9% |
| CSCO Cisco Systems Inc. | 0.52% | 62,307 | $4.3M | Reduce -37.2% |
| IREN Iren Ltd. filed as IREN LIMITED | 0.51% | 294,542 | $4.3M | Add +172.2% |
| NDAQ Nasdaq Inc. | 0.50% | 46,307 | $4.1M | Reduce -9.7% |
| LRCX Lam Research Corp. | 0.49% | 42,433 | $4.1M | Reduce -70.8% |
| NOW ServiceNow Inc. | 0.47% | 3,818 | $3.9M | Add +54.6% |
| SSNC Ss&c Technologies Holdings | 0.46% | 46,445 | $3.8M | Reduce -27.1% |
| HON Honeywell International Inc. | 0.46% | 16,419 | $3.8M | Reduce -26.6% |
| APLD Applied Digital Corp. | 0.46% | 378,451 | $3.8M | Add +767.8% |
| TOL Toll Brothers Inc. | 0.46% | 33,366 | $3.8M | Add +56.8% |
| CHX Championx Corp. | 0.45% | 152,935 | $3.8M | Add +7.0% |
| TEAM Atlassian Corp. Class A | 0.45% | 18,552 | $3.8M | Add +269.6% |
| TER Teradyne Inc. | 0.45% | 41,444 | $3.7M | Add +273.2% |
| FYBR Frontier Communications Pare | 0.44% | 101,498 | $3.7M | Reduce -16.9% |
| TXRH Texas Roadhouse Inc. | 0.44% | 19,695 | $3.7M | Reduce -9.2% |
| VOO Vanguard S&P 500 ETF | 0.42% | 6,230 | $3.5M | Add +5.7% |
| COO The Cooper Cos Inc. | 0.41% | 47,608 | $3.4M | Reduce -42.9% |
| STLD Steel Dynamics Inc. | 0.40% | 26,137 | $3.3M | Add +44.8% |
| LLY Eli Lilly & Co. | 0.40% | 4,250 | $3.3M | Add +6.0% |
| RGTI Rigetti Computing Inc. | 0.38% | 269,011 | $3.2M | Add +215.8% |
| CRM Salesforce Inc. | 0.37% | 11,354 | $3.1M | Reduce -61.6% |
| SLV iShares Silver Trust | 0.36% | 90,583 | $3.0M | Add +28.9% |
| USB US Bancorp | 0.35% | 64,756 | $2.9M | Add +733.4% |
| EQIX Equinix Inc. | 0.35% | 3,659 | $2.9M | Reduce -12.1% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.35% | 6,559 | $2.9M | Add +149.2% |
| EXE Expand Energy Corp. | 0.34% | 24,499 | $2.9M | New |
| BIIB Biogen Inc. | 0.34% | 22,791 | $2.9M | Reduce -8.0% |
| SE Sea Ltd.-ADR | 0.33% | 17,215 | $2.8M | New |
| MNST Monster Beverage Corp. | 0.33% | 43,461 | $2.7M | Reduce -58.0% |
| WING Wingstop Inc. | 0.32% | 8,057 | $2.7M | Add +141.4% |
| LYFT LYFT Inc. Class A | 0.32% | 170,874 | $2.7M | Add +265.3% |
| MANH Manhattan Associates Inc. | 0.32% | 13,636 | $2.7M | Add +474.9% |
| ZBRA Zebra Technologies Corp. Class A | 0.32% | 8,708 | $2.7M | Add +11.3% |
| HOLX Hologic Inc. | 0.32% | 40,380 | $2.6M | Add +2.6% |
| DBX Dropbox Inc. Class A | 0.30% | 88,958 | $2.5M | Reduce -8.2% |
| CRH CRH PLC | 0.28% | 25,870 | $2.4M | Add +153.9% |
| EFA iShares MSCI Eafe ETF | 0.27% | 25,460 | $2.3M | Reduce -4.0% |
| MSCI MSCI Inc. | 0.27% | 3,890 | $2.2M | Add +45.3% |
| GLBE Global-E Online Ltd. | 0.27% | 66,604 | $2.2M | Add +17.7% |
| ADBE Adobe Inc. | 0.26% | 5,703 | $2.2M | Reduce -80.9% |
| CPNG Coupang Inc. | 0.26% | 71,983 | $2.2M | Reduce -23.8% |
| AS Amer Sports Inc. | 0.26% | 55,078 | $2.1M | Add +9512.2% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.25% | 40,380 | $2.1M | Add +551.7% |
| DUOL Duolingo | 0.25% | 5,098 | $2.1M | New |
| DT Dynatrace Inc. | 0.24% | 36,804 | $2.0M | Add +17.6% |
| WCN Waste Connections Inc. | 0.24% | 10,879 | $2.0M | Reduce -27.7% |
| ANET Arista Networks Inc. | 0.24% | 19,849 | $2.0M | Reduce -31.1% |
| EXC Exelon Corp. | 0.24% | 45,901 | $2.0M | Reduce -75.9% |
| PFG Principal Financial Group | 0.23% | 24,689 | $2.0M | Reduce -12.7% |
| ARGX Argenx SE - ADR | 0.23% | 3,556 | $2.0M | Reduce -56.0% |
| WST West Pharmaceutical Services | 0.23% | 8,789 | $1.9M | Add +326.4% |
| ICE Intercontinental Exchange Inc. | 0.23% | 10,389 | $1.9M | Reduce -34.9% |
| GEV GE Vernova Inc. | 0.23% | 3,553 | $1.9M | New |
| MDT Medtronic PLC | 0.22% | 21,401 | $1.9M | Add +25.7% |
| VRSK Verisk Analytics Inc. | 0.22% | 5,966 | $1.9M | Reduce -41.4% |
| VTRS Viatris Inc. | 0.22% | 207,150 | $1.8M | Reduce -27.9% |
| AMAT Applied Materials Inc. | 0.22% | 9,985 | $1.8M | Reduce -78.8% |
| ROIV Roivant Sciences Ltd. | 0.22% | 162,003 | $1.8M | Add +11882.5% |
| NTAP Netapp Inc. | 0.22% | 16,928 | $1.8M | Add +21.1% |
| SOFI Sofi Technologies Inc. | 0.21% | 97,356 | $1.8M | Add +3990.6% |
| ZM Zoom Communications Inc. | 0.21% | 22,420 | $1.7M | Add +11889.3% |
| DOX Amdocs Ltd. | 0.21% | 19,010 | $1.7M | Reduce -29.6% |
Portfolio Sells Q1 2025 → Q2 2025
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −2.63 |
| META Meta Platforms Inc. Class A | Reduce -78.7% | 0.94% | −2.32 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −2.09 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −1.56 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −1.32 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −1.09 |
| ADBE Adobe Inc. | Reduce -80.9% | 0.26% | −1.04 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -99.5% | 0.01% | −1.01 |
| CSX CSX Corp. | Reduce -56.9% | 0.98% | −0.97 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.88 |
| CTAS Cintas Corp. | Reduce -83.2% | 0.20% | −0.84 |
| EXC Exelon Corp. | Reduce -75.9% | 0.24% | −0.76 |
| HD Home Depot Inc. | Sold out | 0.00% | −0.74 |
| LRCX Lam Research Corp. | Reduce -70.8% | 0.49% | −0.71 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.70 |
| COST Costco Wholesale Corp. | Reduce -96.0% | 0.03% | −0.59 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −0.57 |
| NVR NVR Inc. | Reduce -98.3% | 0.01% | −0.57 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -75.7% | 0.20% | −0.57 |
| AMAT Applied Materials Inc. | Reduce -78.8% | 0.22% | −0.56 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.55 |
| JNJ Johnson & Johnson | Reduce -92.0% | 0.05% | −0.54 |
| CRM Salesforce Inc. | Reduce -61.6% | 0.37% | −0.53 |
| CEG Constellation Energy | Sold out | 0.00% | −0.53 |
| ROST Ross Stores Inc. | Reduce -85.2% | 0.09% | −0.50 |
| CDW CDW Corp. | Reduce -85.5% | 0.10% | −0.47 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.46 |
| ALGN Align Technology Inc. | Reduce -79.6% | 0.14% | −0.40 |
| ISRG Intuitive Surgical Inc. | Reduce -34.4% | 1.23% | −0.40 |
| COO The Cooper Cos Inc. | Reduce -42.9% | 0.41% | −0.40 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.39 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -82.6% | 0.10% | −0.39 |
| CTSH Cognizant Tech Solutions-A | Sold out | 0.00% | −0.39 |
| WFC Wells Fargo & Co. | Reduce -74.1% | 0.17% | −0.38 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.37 |
| AMZN Amazon.com Inc. | Reduce -33.9% | 1.50% | −0.37 |
| TGT Target Corp. | Sold out | 0.00% | −0.36 |
| MNST Monster Beverage Corp. | Reduce -58.0% | 0.33% | −0.36 |
| DIS The Walt Disney Co. | Reduce -97.5% | 0.01% | −0.33 |
| ARGX Argenx SE - ADR | Reduce -56.0% | 0.23% | −0.31 |
| XEL Xcel Energy Inc. | Sold out | 0.00% | −0.29 |
| ECL Ecolab Inc. | Reduce -81.0% | 0.08% | −0.29 |
| LIN Linde PLC | Reduce -71.2% | 0.13% | −0.29 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.29 |
| QRVO Qorvo Inc. | Reduce -92.3% | 0.03% | −0.28 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.28 |
| COP Conocophillips | Reduce -80.0% | 0.06% | −0.28 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -73.8% | 0.14% | −0.27 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.26 |
| IEFA iShares Core MSCI Eafe ETF | Sold out | 0.00% | −0.25 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +150.1% | 9.64% | +7.13 |
| FISV Fiserv Inc. | New | 1.44% | +1.44 |
| BBAI Bigbear.ai Holdings Inc. | Add +210.8% | 1.60% | +1.39 |
| MSFT Microsoft Corp. | New | 1.27% | +1.27 |
| UPS United Parcel Service Class B | New | 1.13% | +1.13 |
| JPM JPMorgan Chase & Co. | Add +477.9% | 1.28% | +1.10 |
| ORCL Oracle Corp. | Add +9278.1% | 1.02% | +1.01 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +6750.8% | 0.97% | +0.96 |
| T AT&T Inc. | Add +1046.5% | 0.90% | +0.82 |
| CMCSA Comcast Corp. Class A | Add +181.3% | 1.04% | +0.67 |
| BTI British American Tob-SP ADR | Add +18891.4% | 0.63% | +0.62 |
| QUBT Quantum Computing Inc. | Add +126456.1% | 0.62% | +0.62 |
| AAPL Apple Inc. | New | 0.61% | +0.61 |
| PEP Pepsico Inc. | Add +64.6% | 1.65% | +0.57 |
| RBLX Roblox Corp. Class A | Add +4515.3% | 0.57% | +0.56 |
| REGN Regeneron Pharmaceuticals | Add +272.8% | 0.80% | +0.55 |
| IONQ Ionq Inc. | Add +46.9% | 0.77% | +0.51 |
| IREN Iren Ltd. | Add +172.2% | 0.51% | +0.44 |
| APLD Applied Digital Corp. | Add +767.8% | 0.46% | +0.43 |
| XLV SS Health Care Select Sector | Add +401.9% | 0.52% | +0.42 |
| BSX Boston Scientific Corp. | Add +146.2% | 0.62% | +0.39 |
| ICLR Icon PLC | Add +242.7% | 0.59% | +0.39 |
| DHR Danaher Corp. | Add +27.0% | 1.64% | +0.36 |
| ASTS Ast Spacemobile Inc. | Add +7.4% | 0.63% | +0.36 |
| EXE Expand Energy Corp. | New | 0.34% | +0.34 |
| TER Teradyne Inc. | Add +273.2% | 0.45% | +0.34 |
| TEAM Atlassian Corp. Class A | Add +269.6% | 0.45% | +0.33 |
| SE Sea Ltd.-ADR | New | 0.33% | +0.33 |
| USB US Bancorp | Add +733.4% | 0.35% | +0.31 |
| RGTI Rigetti Computing Inc. | Add +215.8% | 0.38% | +0.31 |
| TMO Thermo Fisher Scientific Inc. | Add +114.3% | 0.65% | +0.30 |
| MANH Manhattan Associates Inc. | Add +474.9% | 0.32% | +0.28 |
| LYFT LYFT Inc. Class A | Add +265.3% | 0.32% | +0.26 |
| AS Amer Sports Inc. | Add +9512.2% | 0.26% | +0.25 |
| DUOL Duolingo | New | 0.25% | +0.25 |
| NOW ServiceNow Inc. | Add +54.6% | 0.47% | +0.25 |
| WING Wingstop Inc. | Add +141.4% | 0.32% | +0.24 |
| GEV GE Vernova Inc. | New | 0.23% | +0.23 |
| ONON On Holding AG Class A | Add +551.7% | 0.25% | +0.22 |
| DIA SS SPDR Dow Jones Indus Avg | Add +149.2% | 0.35% | +0.22 |
| ROIV Roivant Sciences Ltd. | Add +11882.5% | 0.22% | +0.22 |
| SOFI Sofi Technologies Inc. | Add +3990.6% | 0.21% | +0.21 |
| ZM Zoom Communications Inc. | Add +11889.3% | 0.21% | +0.21 |
| RKLB Rocket Lab Corp. | New | 0.21% | +0.21 |
| TOL Toll Brothers Inc. | Add +56.8% | 0.46% | +0.20 |
| MRVL Marvell Technology Inc. | New | 0.20% | +0.20 |
| SAP Sap SE-Sponsored ADR | New | 0.19% | +0.19 |
| BDX Becton Dickinson and Co. | New | 0.19% | +0.19 |
| MDB Mongodb Inc. | New | 0.19% | +0.19 |
| RDDT Reddit Inc. Class A | New | 0.18% | +0.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 695 | $942.5M | AMZN, TLT, MU, AMD, CME |
| Q1 2026 | 712 | $877.9M | MU, TSLA, GOOGL, MSFT, AMZN |
| Q4 2025 | 654 | $1.2B | AAPL, VOO, AMZN, LQD, NVDA |
| Q3 2025 | 594 | $1.3B | NVDA, AMZN, HOOD, GOOGL, ISRG |
| Q2 2025 | 1,142 | $835.2M | NVDA, PEP, DHR, BBAI, AMZN |
| Q1 2025 | 1,101 | $877.4M | META, GOOG, NVDA, GOOGL, CSX |
| Q4 2024 | 1,160 | $995.3M | SPY, AAPL, MSFT, AMZN, VOO |
| Q3 2024 | 1,142 | $869.8M | MSFT, SPY, GOOG, AAPL, PLTR |
| Q2 2024 | 1,104 | $942.6M | AAPL, AMZN, MSFT, TSLA, SPY |
| Q1 2024 | 1,215 | $416.3M | NVDA, VOO, AAPL, MSFT, LIN |