Ulland Investment Advisors, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 15, 2024), Ulland Investment Advisors, LLC reported 203 stock positions worth $134.2 million. Its top holding was Nvidia (NVDA) at 9.9% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 6.6%) and Axon Enterprise (AXON, 6.5%). Compared with Q2 2024, it opened 10 new positions, sold out of 27, added to 19 and reduced 51. The biggest buy was a new position in Super Micro Computer (SMCI) and the biggest sale an exit from Super Micro Computer (SMCI).

Most Recent 13F
Q2 2026
Location
MINNEAPOLIS, MN
CIK
0001911497
Portfolio Value
$134.2M (Q3 2024)
SEC Filing
0001911497-24-000005 ↗ filed Oct 15, 2024

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $124.0M Q1 2024 Q2 2024: $131.2M Q2 2024 Q3 2024: $134.2M $134.2M Q3 2024 Q4 2024: $144.8M Q4 2024 Q1 2025: $114.9M Q1 2025 Q2 2025: $122.0M Q2 2025 Q3 2025: $131.7M Q3 2025 Q4 2025: $124.5M Q4 2025 Q1 2026: $116.2M Q1 2026 Q2 2026: $135.2M Q2 2026

Holdings 203 stocks · $134.2M
NVDA Nvidia Corp. 9.88% 109,219 $13.3M Reduce -1.0%
QQQ Invesco QQQ Trust Series 1 6.62% 18,203 $8.9M Add +0.6%
AXON Axon Enterprise Inc. 6.50% 21,818 $8.7M Reduce -1.4%
GOOG Alphabet Inc. Class C 6.45% 51,770 $8.7M Reduce -1.4%
AAPL Apple Inc. 6.09% 35,055 $8.2M Reduce -0.9%
META Meta Platforms Inc. Class A 5.74% 13,454 $7.7M Reduce -5.2%
UNH Unitedhealth Group Inc. 5.37% 12,332 $7.2M Reduce -3.8%
VRT Vertiv Holdings Co. Class A 4.32% 58,317 $5.8M Reduce -1.0%
AMZN Amazon.com Inc. 4.23% 30,444 $5.7M Reduce -0.9%
SKY Champion Homes Inc. 3.71% 52,439 $5.0M Reduce -1.0%
GOOGL Alphabet Inc. Class A 3.07% 24,843 $4.1M Reduce -0.3%
V Visa Inc. Class A 2.67% 13,009 $3.6M Reduce -1.3%
SCHM Schwab US Mid Cap ETF 2.07% 33,386 $2.8M Reduce -4.1%
BRK.A Berkshire Hathaway Inc. Class A 2.06% 4 $2.8M No change
LOW Lowe's Cos Inc. 2.04% 10,132 $2.7M Reduce -3.3%
MSFT Microsoft Corp. 2.01% 6,269 $2.7M Reduce -3.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.56% 3,648 $2.1M Add +28.4%
SMCI Super Micro Computer Inc. 1.55% 5,000 $2.1M New
SMMD iShares Russell 2500 ETF 1.34% 26,550 $1.8M Reduce -4.4%
DSI iShares ESG MSCI KLD 400 ETF 1.16% 14,260 $1.6M No change
BSX Boston Scientific Corp. 1.00% 15,939 $1.3M No change
JTEK JPMorgan US Tech Leaders 0.99% 19,364 $1.3M Reduce -7.2%
SCHX Schwab US Large-Cap ETF 0.95% 18,885 $1.3M Reduce -5.3%
PSI Invesco Semiconductors ETF 0.89% 20,874 $1.2M Reduce -14.2%
JUST Goldman Sachs Just US LRG 0.87% 14,220 $1.2M No change
SUSA iShares ESG Optimized MSCI U 0.80% 8,880 $1.1M No change
IGV iShares Expanded Tech-Softwa 0.75% 11,232 $1.0M Reduce -49.9%
CVLT Commvault Systems Inc. 0.74% 6,449 $992K Add +16.1%
LNTH Lantheus Holdings Inc. 0.72% 8,780 $964K Add +4.5%
IUSG iShares Core S&P U.S. Growth 0.68% 6,921 $913K Add +0.9%
BRK.B Berkshire Hathaway Inc. Class B 0.67% 1,942 $894K Reduce -4.4%
ICE Intercontinental Exchange Inc. 0.65% 5,390 $866K Reduce -10.6%
XOM Exxon Mobil Corp. 0.61% 7,036 $825K Reduce -7.1%
COST Costco Wholesale Corp. 0.46% 697 $618K Add +3.3%
INTU Intuit Inc. 0.41% 887 $551K No change
ECL Ecolab Inc. 0.41% 2,134 $545K No change
VOO Vanguard S&P 500 ETF 0.39% 1,000 $528K Add +1.0%
AMLP Alerian MLP ETF 0.38% 10,730 $506K Add +8.5%
NZAC State Street SPDR MSCI Acwi 0.37% 13,400 $500K No change
XLE SS Energy Select Sector 0.34% 5,150 $452K Reduce -14.4%
ANSS Ansys Inc. 0.30% 1,269 $404K Add +78.7%
ISRG Intuitive Surgical Inc. 0.27% 738 $363K No change
PG The Procter & Gamble Co. 0.23% 1,805 $313K No change
LH Labcorp Holdings Inc. 0.23% 1,368 $306K Reduce -10.8%
SCCO Southern Copper Corp. 0.21% 2,427 $281K Add +0.4%
CAT Caterpillar Inc. 0.21% 715 $280K No change
TT Trane Technologies PLC 0.21% 720 $280K Reduce -1.4%
CRWD CrowdStrike Holdings Inc. Class A 0.21% 995 $279K Reduce -15.4%
IWF iShares Russell 1000 Growth 0.21% 735 $276K Reduce -13.0%
YOU Clear Secure Inc. Class A 0.20% 8,290 $275K Add +318.7%
IWR iShares Russell Mid-Cap ETF 0.20% 3,025 $267K No change
BDX Becton Dickinson and Co. 0.20% 1,100 $265K No change
RTX RTX Corp. 0.19% 2,144 $260K No change
JNJ Johnson & Johnson 0.18% 1,506 $244K Add +11.1%
VNOM Viper Energy Inc. 0.17% 5,000 $226K No change
ET Energy Transfer LP 0.17% 14,000 $225K Reduce -1.0%
BSM Black Stone Minerals LP 0.17% 14,700 $222K No change
KRP Kimbell Royalty Partners LP 0.16% 13,000 $209K No change
VMD Viemed Healthcare Inc. 0.14% 25,410 $186K Reduce -23.6%
MPLX MPLX LP 0.13% 4,000 $178K No change
LLY Eli Lilly & Co. 0.13% 200 $177K Reduce -6.5%
PM Philip Morris International 0.13% 1,417 $172K No change
CARR Carrier Global Corp. 0.13% 2,084 $168K No change
GNRC Generac Holdings Inc. 0.12% 1,052 $167K Reduce -24.5%
DGII Digi International Inc. 0.12% 5,940 $164K Reduce -63.6%
RIO Rio Tinto PLC-Spon ADR 0.11% 2,100 $149K No change
HCA HCA Healthcare Inc. 0.11% 360 $146K No change
SCHW Schwab (charles) Corp. 0.11% 2,175 $141K Reduce -69.5%
SYK Stryker Corp. 0.09% 320 $116K No change
CVS CVS Health Corp. 0.08% 1,796 $113K Reduce -23.8%
MRK Merck & Co. Inc. 0.08% 983 $112K Reduce -3.3%
OTIS Otis Worldwide Corp. 0.08% 1,071 $111K No change
PGR Progressive Corp. 0.08% 425 $108K No change
CVX Chevron Corp. 0.08% 718 $106K No change
XLV SS Health Care Select Sector 0.08% 670 $103K No change
VB Vanguard Most SM-Cap ETF-Usd 0.08% 435 $103K Add +2.4%
QYLD Global X Nasd 100 Cov Call 0.08% 5,650 $102K Reduce -24.7%
GS Goldman Sachs Group Inc. 0.07% 200 $99K No change
EA Electronic Arts Inc. 0.07% 671 $96K Reduce -49.1%
VTI VG Morningstar TS MKT ETF-US 0.07% 335 $95K No change
TAP Molson Coors Beverage Co. Class B 0.07% 1,610 $93K Reduce -12.3%
AMD Advanced Micro Devices 0.07% 553 $91K Add +84.3%
IOT Samsara Inc. Class A 0.07% 1,890 $91K No change
EEFT Euronet Worldwide Inc. 0.07% 894 $89K Reduce -78.3%
BKNG Booking Holdings Inc. 0.07% 21 $88K No change
TECK Teck Resources Ltd.-CLS B 0.07% 1,680 $88K No change
VPU Vanguard Utilities ETF 0.07% 503 $88K Reduce -46.9%
DLR Digital Realty Trust Inc. 0.06% 530 $86K Reduce -21.8%
CRM Salesforce Inc. 0.06% 309 $85K Reduce -44.7%
TSEM Tower Semiconductor Ltd. 0.06% 1,910 $85K Reduce -22.0%
FCX Freeport-McMoran Inc. 0.06% 1,675 $84K No change
AMKR Amkor Technology Inc. 0.06% 2,680 $82K New
AVGO Broadcom Inc. 0.06% 473 $82K Add +39.1%
WFC Wells Fargo & Co. 0.06% 1,435 $81K No change
MMM 3M Co. 0.06% 585 $80K No change
NSC Norfolk Southern Corp. 0.06% 300 $75K No change
XYZ Block Inc. 0.06% 1,110 $75K New
PEP Pepsico Inc. 0.05% 428 $73K No change
IR Ingersoll-Rand Inc. 0.05% 670 $66K No change
TSM Taiwan Semiconductor-SP ADR 0.04% 333 $58K New

Show all 203 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $2.4M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 1,796$2.3MReduce -83.0%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 94$120KNo change

Total filed on the 13F, all lines: $136.6M.

Portfolio Sells Q2 2024 → Q3 2024
SMCI Super Micro Computer Inc. Sold out 0.00% −2.60
GOOG Alphabet Inc. Class C Reduce -1.4% 6.45% −0.89
IGV iShares Expanded Tech-Softwa Reduce -49.9% 0.75% −0.74
NVDA Nvidia Corp. Reduce -1.0% 9.88% −0.51
GOOGL Alphabet Inc. Class A Reduce -0.3% 3.07% −0.39
AMZN Amazon.com Inc. Reduce -0.9% 4.23% −0.30
SCHW Schwab (charles) Corp. Reduce -69.5% 0.11% −0.30
PSI Invesco Semiconductors ETF Reduce -14.2% 0.89% −0.27
EEFT Euronet Worldwide Inc. Reduce -78.3% 0.07% −0.26
MSFT Microsoft Corp. Reduce -3.6% 2.01% −0.21
DGII Digi International Inc. Reduce -63.6% 0.12% −0.16
CRWD CrowdStrike Holdings Inc. Class A Reduce -15.4% 0.21% −0.14
SNOW Snowflake Inc. Sold out 0.00% −0.11
JTEK JPMorgan US Tech Leaders Reduce -7.2% 0.99% −0.11
FIS Fidelity National Info Serv Sold out 0.00% −0.11
KMB Kimberly-Clark Corp. Sold out 0.00% −0.09
INTC Intel Corp. Sold out 0.00% −0.08
XLE SS Energy Select Sector Reduce -14.4% 0.34% −0.08
SCHD Schwab US DVD Equity ETF Reduce -99.0% 0.00% −0.07
EA Electronic Arts Inc. Reduce -49.1% 0.07% −0.07
AAP Advance Auto Parts Inc. Reduce -31.1% 0.04% −0.06
TGT Target Corp. Reduce -74.1% 0.02% −0.06
XOM Exxon Mobil Corp. Reduce -7.1% 0.61% −0.05
AMGN Amgen Inc. Sold out 0.00% −0.05
CRM Salesforce Inc. Reduce -44.7% 0.06% −0.05
VPU Vanguard Utilities ETF Reduce -46.9% 0.07% −0.04
LRCX Lam Research Corp. Sold out 0.00% −0.04
IWF iShares Russell 1000 Growth Reduce -13.0% 0.21% −0.03
VMD Viemed Healthcare Inc. Reduce -23.6% 0.14% −0.03
QYLD Global X Nasd 100 Cov Call Reduce -24.7% 0.08% −0.03
CVS CVS Health Corp. Reduce -23.8% 0.08% −0.02
SCHX Schwab US Large-Cap ETF Reduce -5.3% 0.95% −0.02
ADBE Adobe Inc. Reduce -45.0% 0.02% −0.02
NOW ServiceNow Inc. Reduce -53.6% 0.02% −0.02
LLY Eli Lilly & Co. Reduce -6.5% 0.13% −0.02
GNRC Generac Holdings Inc. Reduce -24.5% 0.12% −0.02
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.01
DLR Digital Realty Trust Inc. Reduce -21.8% 0.06% −0.01
MRK Merck & Co. Inc. Reduce -3.3% 0.08% −0.01
SMH Vaneck Semiconductor ETF Sold out 0.00% −0.01
NXPI NXP Semiconductors NV Sold out 0.00% −0.01
LH Labcorp Holdings Inc. Reduce -10.8% 0.23% −0.01
TSEM Tower Semiconductor Ltd. Reduce -22.0% 0.06% −0.01
STEM Stem Inc. Sold out 0.00% −0.01
BXSL Blackstone Secured Lending F Reduce -60.0% 0.00% −0.01
ET Energy Transfer LP Reduce -1.0% 0.17% −0.01
ON On Semiconductor Sold out 0.00% −0.01
PTON Peloton Interactive Inc. Class A Sold out 0.00% −0.01
DHR Danaher Corp. Sold out 0.00% −0.01
CDNS Cadence Design SYS Inc. Sold out 0.00% −0.00

Portfolio Buys Q2 2024 → Q3 2024
SMCI Super Micro Computer Inc. New 1.55% +1.55
SPY SS SPDR S&P 500 ETF Trust-US Add +28.4% 1.56% +0.38
CVLT Commvault Systems Inc. Add +16.1% 0.74% +0.22
LNTH Lantheus Holdings Inc. Add +4.5% 0.72% +0.20
YOU Clear Secure Inc. Class A Add +318.7% 0.20% +0.18
ANSS Ansys Inc. Add +78.7% 0.30% +0.13
AMKR Amkor Technology Inc. New 0.06% +0.06
XYZ Block Inc. New 0.06% +0.06
TSM Taiwan Semiconductor-SP ADR New 0.04% +0.04
SPLV Invesco S&P 500 Low Volatili New 0.04% +0.04
JNJ Johnson & Johnson Add +11.1% 0.18% +0.03
AMD Advanced Micro Devices Add +84.3% 0.07% +0.03
CI The Cigna Group Add +2500.0% 0.03% +0.03
COST Costco Wholesale Corp. Add +3.3% 0.46% +0.02
AVGO Broadcom Inc. Add +39.1% 0.06% +0.02
VOO Vanguard S&P 500 ETF Add +1.0% 0.39% +0.02
AMLP Alerian MLP ETF Add +8.5% 0.38% +0.01
UMH Umh Properties Inc. New 0.01% +0.01
IUSG iShares Core S&P U.S. Growth Add +0.9% 0.68% +0.01
LRCX Lam Research Corp. New 0.01% +0.01
QQQ Invesco QQQ Trust Series 1 Add +0.6% 6.62% +0.01
SCCO Southern Copper Corp. Add +0.4% 0.21% +0.01
SGOV iShares 0-3 Month Treasury B Add +900.0% 0.01% +0.01
SLYG SS SPDR S&P 600 SC GR ETF New 0.01% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +2.4% 0.08% +0.01
PHX PHX Minerals Inc. New 0.00% +0.00
SJM The JM Smucker Co. Add +0.8% 0.02% +0.00
VYM Vanguard High DVD Yield ETF Add +4.3% 0.02% +0.00
AMPL Amplitude Inc. Class A New 0.00% 0.00

Notes & Other Activity Q2 2024 → Q3 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -83.0% 1,796 $2.3M
ADSEW ADS-Tec Energy PLC-WRNT *W EXP 99/99/999 Sold out 3,109 $8Kbefore exit
CLBTW Cellebrite Di Ltd. -CW23 *W EXP 99/99/999 Sold out 16 $0before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 225$135.2MGOOG, NVDA, VRT, QQQ, AXON
Q1 2026 211$116.2MNVDA, GOOG, VRT, META, QQQ
Q4 2025 216$124.5MGOOG, NVDA, META, AXON, QQQ
Q3 2025 226$131.7MNVDA, GOOG, META, AXON, VRT
Q2 2025 211$122.0MNVDA, AXON, META, GOOG, QQQ
Q1 2025 222$114.9MNVDA, AXON, META, GOOG, QQQ
Q4 2024 210$144.8MNVDA, AXON, GOOG, QQQ, AAPL
Q3 2024 203$134.2MNVDA, QQQ, AXON, GOOG, AAPL
Q2 2024 219$131.2MNVDA, GOOG, QQQ, AAPL, META
Q1 2024 229$124.0MNVDA, QQQ, GOOG, AXON, META