Ulland Investment Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 8, 2026), Ulland Investment Advisors, LLC reported 216 stock positions worth $124.5 million. Its top holding was Alphabet Class C (GOOG) at 8.2% of the portfolio, followed by Nvidia (NVDA, 8.1%) and Meta Platforms Class A (META, 5.8%). Compared with Q3 2025, it opened 5 new positions, sold out of 15, added to 27 and reduced 52. The biggest buy was Intercontinental Exchange (ICE, shares +54%) and the biggest sale Nvidia (NVDA, shares −21%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001911497
- Portfolio Value
- $124.5M (Q4 2025)
- SEC Filing
- 0001911497-26-000001 ↗ filed Jan 8, 2026
Holdings Value
Holdings 216 stocks · $124.5M
| GOOG Alphabet Inc. Class C | 8.23% | 32,650 | $10.2M | Reduce -24.0% |
| NVDA Nvidia Corp. | 8.11% | 54,121 | $10.1M | Reduce -21.1% |
| META Meta Platforms Inc. Class A | 5.79% | 10,924 | $7.2M | Reduce -5.7% |
| AXON Axon Enterprise Inc. | 5.15% | 11,295 | $6.4M | Add +6.0% |
| QQQ Invesco QQQ Trust Series 1 | 5.06% | 10,244 | $6.3M | Reduce -3.5% |
| VRT Vertiv Holdings Co. Class A | 4.67% | 35,858 | $5.8M | Reduce -15.5% |
| JEPI JPMorgan Equity Premium Inco | 4.12% | 89,545 | $5.1M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 4.06% | 21,873 | $5.0M | Reduce -5.8% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 4.03% | 86,409 | $5.0M | Reduce -1.5% |
| GOOGL Alphabet Inc. Class A | 3.31% | 13,151 | $4.1M | Reduce -32.5% |
| SKY Champion Homes Inc. | 2.97% | 43,754 | $3.7M | Reduce -6.3% |
| AAPL Apple Inc. | 2.89% | 13,237 | $3.6M | Reduce -9.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 2.43% | 4 | $3.0M | No change |
| V Visa Inc. Class A | 2.04% | 7,233 | $2.5M | Reduce -3.9% |
| SCHM Schwab US Mid Cap ETF | 1.94% | 80,354 | $2.4M | Reduce -5.4% |
| MSFT Microsoft Corp. | 1.93% | 4,966 | $2.4M | Reduce -4.3% |
| UNH Unitedhealth Group Inc. | 1.70% | 6,423 | $2.1M | Reduce -14.7% |
| LOW Lowe's Cos Inc. | 1.65% | 8,492 | $2.0M | Reduce -5.9% |
| JTEK JPMorgan US Tech Leaders | 1.60% | 22,115 | $2.0M | Reduce -1.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.46% | 2,659 | $1.8M | Reduce -7.7% |
| ICE Intercontinental Exchange Inc. | 1.26% | 9,664 | $1.6M | Add +54.1% |
| SMMD iShares Russell 2500 ETF | 1.04% | 17,340 | $1.3M | Reduce -4.1% |
| QYLD Global X Nasd 100 Cov Call | 1.01% | 70,827 | $1.3M | Reduce -2.9% |
| SCHX Schwab US Large-Cap ETF | 0.98% | 45,437 | $1.2M | Reduce -6.0% |
| BSX Boston Scientific Corp. | 0.98% | 12,754 | $1.2M | Reduce -1.7% |
| IGV iShares Expanded Tech-Softwa | 0.93% | 10,900 | $1.2M | Reduce -5.0% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.85% | 66,265 | $1.1M | Add +11.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.83% | 2,046 | $1.0M | No change |
| SNPS Synopsys Inc. | 0.82% | 2,187 | $1.0M | Reduce -2.0% |
| IUSG iShares Core S&P U.S. Growth | 0.80% | 5,946 | $999K | Reduce -5.7% |
| VOO Vanguard S&P 500 ETF | 0.70% | 1,398 | $877K | Reduce -1.1% |
| GPIX GLDM SA S&P 500 PR in ETF-US | 0.70% | 16,580 | $875K | Add +11.8% |
| AMLP Alerian MLP ETF | 0.59% | 15,545 | $731K | Add +1.8% |
| CVLT Commvault Systems Inc. | 0.57% | 5,695 | $714K | Reduce -3.4% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.57% | 5,500 | $709K | Reduce -6.0% |
| VMD Viemed Healthcare Inc. | 0.51% | 85,495 | $635K | Add +17.0% |
| XOM Exxon Mobil Corp. | 0.48% | 4,917 | $592K | Reduce -8.7% |
| AMKR Amkor Technology Inc. | 0.45% | 14,210 | $561K | Reduce -22.2% |
| JUST Goldman Sachs Just US LRG | 0.44% | 5,720 | $553K | No change |
| COST Costco Wholesale Corp. | 0.44% | 637 | $549K | Reduce -10.9% |
| SUSA iShares ESG Optimized MSCI U | 0.43% | 3,855 | $537K | Reduce -0.6% |
| INTU Intuit Inc. | 0.43% | 801 | $531K | Reduce -3.8% |
| XYZ Block Inc. | 0.35% | 6,628 | $431K | Add +38.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.34% | 916 | $429K | Reduce -6.5% |
| RTX RTX Corp. | 0.33% | 2,229 | $409K | No change |
| XLE SS Energy Select Sector | 0.31% | 8,550 | $382K | No change |
| GNRC Generac Holdings Inc. | 0.30% | 2,750 | $375K | Add +261.4% |
| ALVO Alvotech SA | 0.30% | 72,500 | $372K | Add +544.4% |
| AVGO Broadcom Inc. | 0.28% | 990 | $343K | Reduce -2.5% |
| IWF iShares Russell 1000 Growth | 0.27% | 703 | $333K | No change |
| LNTH Lantheus Holdings Inc. | 0.26% | 4,807 | $320K | Reduce -20.3% |
| PSI Invesco Semiconductors ETF | 0.25% | 3,975 | $313K | Reduce -9.7% |
| JNJ Johnson & Johnson | 0.25% | 1,506 | $312K | No change |
| ECL Ecolab Inc. | 0.24% | 1,134 | $298K | No change |
| IWR iShares Russell Mid-Cap ETF | 0.23% | 3,025 | $291K | No change |
| MPLX MPLX LP | 0.21% | 5,000 | $267K | Add +66.7% |
| ET Energy Transfer LP | 0.21% | 16,000 | $264K | Add +60.0% |
| LH Labcorp Holdings Inc. | 0.21% | 1,043 | $262K | No change |
| SUN Sunoco LP | 0.21% | 5,000 | $262K | Add +150.0% |
| CAT Caterpillar Inc. | 0.19% | 415 | $238K | No change |
| EPD Enterprise Products Partners | 0.18% | 7,000 | $224K | Add +118.8% |
| LLY Eli Lilly & Co. | 0.17% | 200 | $215K | Reduce -3.4% |
| PM Philip Morris International | 0.17% | 1,312 | $210K | No change |
| RSP Invesco S&P 500 Equal Weight | 0.16% | 1,040 | $199K | Add +1.5% |
| SCHW Schwab (charles) Corp. | 0.15% | 1,936 | $193K | Reduce -10.6% |
| PANW Palo Alto Networks Inc. | 0.14% | 978 | $180K | Add +44.3% |
| PAA Plains All Amer Pipeline LP | 0.14% | 10,000 | $180K | Add +66.7% |
| GS Goldman Sachs Group Inc. | 0.14% | 200 | $176K | No change |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.14% | 6,100 | $172K | Add +17.9% |
| ISRG Intuitive Surgical Inc. | 0.14% | 300 | $170K | No change |
| PG The Procter & Gamble Co. | 0.14% | 1,180 | $169K | No change |
| HCA HCA Healthcare Inc. | 0.14% | 360 | $168K | No change |
| HELO JPMorgan Hedged Equity ETF | 0.13% | 2,420 | $161K | Add +2.1% |
| KMB Kimberly-Clark Corp. | 0.13% | 1,595 | $161K | New |
| URA Global X Uranium ETF | 0.12% | 3,574 | $153K | Reduce -0.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.12% | 496 | $151K | Reduce -4.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.11% | 555 | $143K | No change |
| MRVL Marvell Technology Inc. | 0.11% | 1,650 | $140K | Add +37.5% |
| IQQQ Proshares NDX High Incom ETF | 0.11% | 3,150 | $140K | Add +800.0% |
| WFC Wells Fargo & Co. | 0.11% | 1,435 | $134K | No change |
| RYLD Global X Russell 2000 Cov Class | 0.10% | 8,300 | $127K | Add +3.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.10% | 626 | $120K | Reduce -1.4% |
| CARR Carrier Global Corp. | 0.09% | 2,169 | $115K | No change |
| SYK Stryker Corp. | 0.09% | 320 | $112K | No change |
| CVX Chevron Corp. | 0.09% | 718 | $109K | No change |
| XLV SS Health Care Select Sector | 0.08% | 670 | $104K | No change |
| BKNG Booking Holdings Inc. | 0.08% | 19 | $102K | No change |
| MRK Merck & Co. Inc. | 0.08% | 957 | $101K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 298 | $100K | Reduce -5.4% |
| BUG Global X Cybersecurity ETF | 0.08% | 3,180 | $97K | New |
| OTIS Otis Worldwide Corp. | 0.08% | 1,113 | $97K | No change |
| PGR Progressive Corp. | 0.08% | 425 | $97K | No change |
| MMM 3M Co. | 0.08% | 585 | $94K | No change |
| TSLA Tesla Inc. | 0.07% | 205 | $92K | Reduce -18.0% |
| NSC Norfolk Southern Corp. | 0.07% | 300 | $87K | No change |
| SCCO Southern Copper Corp. | 0.07% | 604 | $87K | Add +0.2% |
| QFLR Innovator Nasdaq-100 MF ETF | 0.07% | 2,500 | $86K | No change |
| JPM JPMorgan Chase & Co. | 0.07% | 258 | $83K | Reduce -12.8% |
| ADBE Adobe Inc. | 0.07% | 234 | $82K | Reduce -41.2% |
| LOUP Innovator Deepwater Frontier | 0.06% | 1,000 | $76K | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $445K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 4,075 | $321K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 102 | $124K | Reduce -83.1% |
Total filed on the 13F, all lines: $124.9M.
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -21.1% | 8.11% | −1.61 |
| META Meta Platforms Inc. Class A | Reduce -5.7% | 5.79% | −0.67 |
| GOOGL Alphabet Inc. Class A | Reduce -32.5% | 3.31% | −0.29 |
| UNH Unitedhealth Group Inc. | Reduce -14.7% | 1.70% | −0.27 |
| CVLT Commvault Systems Inc. | Reduce -3.4% | 0.57% | −0.27 |
| VRT Vertiv Holdings Co. Class A | Reduce -15.5% | 4.67% | −0.19 |
| SCHD Schwab US DVD Equity ETF | Reduce -99.5% | 0.00% | −0.16 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.16 |
| YETH Roundhill Etr Co. Call St ETF | Sold out | 0.00% | −0.12 |
| MSFT Microsoft Corp. | Reduce -4.3% | 1.93% | −0.11 |
| IGV iShares Expanded Tech-Softwa | Reduce -5.0% | 0.93% | −0.08 |
| LOW Lowe's Cos Inc. | Reduce -5.9% | 1.65% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -10.9% | 0.44% | −0.06 |
| TAP Molson Coors Beverage Co. Class B | Sold out | 0.00% | −0.06 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.05 |
| SCHF Schwab Intl Equity ETF | Reduce -71.2% | 0.02% | −0.04 |
| ADBE Adobe Inc. | Reduce -41.2% | 0.07% | −0.04 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.03 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -6.5% | 0.34% | −0.02 |
| YBTC Roundhill Bitcoin CC STR ETF | Sold out | 0.00% | −0.01 |
| SNPS Synopsys Inc. | Reduce -2.0% | 0.82% | −0.01 |
| TSLA Tesla Inc. | Reduce -18.0% | 0.07% | −0.01 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.01 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.01 |
| TIDAL TRUST II | Sold out | 0.00% | −0.01 |
| URA Global X Uranium ETF | Reduce -0.0% | 0.12% | −0.01 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −0.01 |
| INTU Intuit Inc. | Reduce -3.8% | 0.43% | −0.01 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.00 |
| HESM Hess Midstream LP Class A | Sold out | 0.00% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -12.8% | 0.07% | −0.00 |
| DE Deere & Co. | Sold out | 0.00% | −0.00 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.00 |
| CRM Salesforce Inc. | Reduce -21.2% | 0.05% | −0.00 |
| TGT Target Corp. | Reduce -27.5% | 0.01% | −0.00 |
| SCHW Schwab (charles) Corp. | Reduce -10.6% | 0.15% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -7.7% | 1.46% | −0.00 |
| NVT Nvent Electric PLC | Reduce -7.0% | 0.00% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -4.8% | 0.05% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -5.4% | 0.08% | +0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.4% | 0.10% | +0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -6.0% | 0.57% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.8% | 0.12% | +0.01 |
| IUSG iShares Core S&P U.S. Growth | Reduce -5.7% | 0.80% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -8.7% | 0.48% | +0.01 |
| BSX Boston Scientific Corp. | Reduce -1.7% | 0.98% | +0.01 |
| SCHX Schwab US Large-Cap ETF | Reduce -6.0% | 0.98% | +0.02 |
| PSI Invesco Semiconductors ETF | Reduce -9.7% | 0.25% | +0.02 |
| AVGO Broadcom Inc. | Reduce -2.5% | 0.28% | +0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| ICE Intercontinental Exchange Inc. | Add +54.1% | 1.26% | +0.46 |
| ALVO Alvotech SA | Add +544.4% | 0.30% | +0.23 |
| GNRC Generac Holdings Inc. | Add +261.4% | 0.30% | +0.20 |
| UMH Umh Properties Inc. | Add +11.6% | 0.85% | +0.18 |
| SUN Sunoco LP | Add +150.0% | 0.21% | +0.13 |
| VMD Viemed Healthcare Inc. | Add +17.0% | 0.51% | +0.13 |
| KMB Kimberly-Clark Corp. | New | 0.13% | +0.13 |
| GPIX GLDM SA S&P 500 PR in ETF-US | Add +11.8% | 0.70% | +0.11 |
| EPD Enterprise Products Partners | Add +118.8% | 0.18% | +0.10 |
| IQQQ Proshares NDX High Incom ETF | Add +800.0% | 0.11% | +0.10 |
| MPLX MPLX LP | Add +66.7% | 0.21% | +0.10 |
| XYZ Block Inc. | Add +38.3% | 0.35% | +0.08 |
| ET Energy Transfer LP | Add +60.0% | 0.21% | +0.08 |
| BUG Global X Cybersecurity ETF | New | 0.08% | +0.08 |
| PAA Plains All Amer Pipeline LP | Add +66.7% | 0.14% | +0.07 |
| CCJ Cameco Corp. | New | 0.06% | +0.06 |
| AMLP Alerian MLP ETF | Add +1.8% | 0.59% | +0.04 |
| PANW Palo Alto Networks Inc. | Add +44.3% | 0.14% | +0.04 |
| MRVL Marvell Technology Inc. | Add +37.5% | 0.11% | +0.04 |
| FDX FedEx Corp. | New | 0.02% | +0.02 |
| ITWO Proshares R2000 Hi Incom ETF | New | 0.02% | +0.02 |
| HON Honeywell International Inc. | Add +52.4% | 0.05% | +0.02 |
| SCCO Southern Copper Corp. | Add +0.2% | 0.07% | +0.01 |
| RSP Invesco S&P 500 Equal Weight | Add +1.5% | 0.16% | +0.01 |
| HELO JPMorgan Hedged Equity ETF | Add +2.1% | 0.13% | +0.01 |
| RYLD Global X Russell 2000 Cov Class | Add +3.8% | 0.10% | +0.01 |
| VICI Vici Properties Inc. | Add +17.9% | 0.14% | +0.01 |
| NEE Nextera Energy Inc. | Add +12.7% | 0.03% | +0.01 |
| LGLV SPDR US LC Low Vol Idx | Add +13.4% | 0.03% | +0.00 |
| DLR Digital Realty Trust Inc. | Add +8.9% | 0.03% | +0.00 |
| SJM The JM Smucker Co. | Add +0.8% | 0.02% | −0.00 |
| AXON Axon Enterprise Inc. | Add +6.0% | 5.15% | −0.65 |
Notes & Other Activity Q3 2025 → Q4 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -83.1% | 102 | $124K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 225 | $135.2M | GOOG, NVDA, VRT, QQQ, AXON |
| Q1 2026 | 211 | $116.2M | NVDA, GOOG, VRT, META, QQQ |
| Q4 2025 | 216 | $124.5M | GOOG, NVDA, META, AXON, QQQ |
| Q3 2025 | 226 | $131.7M | NVDA, GOOG, META, AXON, VRT |
| Q2 2025 | 211 | $122.0M | NVDA, AXON, META, GOOG, QQQ |
| Q1 2025 | 222 | $114.9M | NVDA, AXON, META, GOOG, QQQ |
| Q4 2024 | 210 | $144.8M | NVDA, AXON, GOOG, QQQ, AAPL |
| Q3 2024 | 203 | $134.2M | NVDA, QQQ, AXON, GOOG, AAPL |
| Q2 2024 | 219 | $131.2M | NVDA, GOOG, QQQ, AAPL, META |
| Q1 2024 | 229 | $124.0M | NVDA, QQQ, GOOG, AXON, META |