Headland Capital, LLC

Portfolio Overview

Headland Capital, LLC disclosed 64 positions worth $405.5M in its Form 13F-HR for Q2 2026, led by $SPY (SPDR S&P 500 ETF TRUST) at 21.9% of the equity portfolio, followed by $PGR. During the quarter the fund opened 6 new positions and exited 4 — including a new stake in $MU and a full exit from $BABA. The portfolio is most concentrated in Other (42.3% of disclosed assets). All figures are sourced directly from Headland Capital, LLC’s Form 13F-HR filing with the SEC under CIK 2056637.

• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $88.9M119,098 sh
• 

  PROGRESSIVE CORP/OH/

  $PGR

  80.1#27

  Quality

  $44.5M203,727 sh

• STATE STREET SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF - ETF

  —

  Quality

  $31.3M621,262 sh
• 

  GE Vernova Inc.

  $GEV

  81.1

  Quality

  $30.2M25,697 sh

• ISHARES CORE S&P 500 ETF - ETF

  —

  Quality

  $25.0M33,358 sh
• 

  Invesco Ltd.

  $IVZ

  —

  Quality

  $21.4M1,303,900 sh
• 

  TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD

  $TSM

  —

  Quality

  $20.1M42,120 sh
• 

  Invesco Ltd.

  $IVZ

  —

  Quality

  $19.0M1,023,299 sh
• 

  WisdomTree, Inc.

  $WT

  59.9

  Quality

  $15.5M307,821 sh
• 

  Invesco Ltd.

  $IVZ

  —

  Quality

  $14.8M163,748 sh

Company	Quality	Value	Shares
SPDR S&P 500 ETF TRUST$SPY	—	$88.9M	119,098
PROGRESSIVE CORP/OH/$PGR	80.1#27	$44.5M	203,727
STATE STREET SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF - ETF	—	$31.3M	621,262
GE Vernova Inc.$GEV	81.1	$30.2M	25,697
ISHARES CORE S&P 500 ETF - ETF	—	$25.0M	33,358
Invesco Ltd.$IVZ	—	$21.4M	1,303,900
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD$TSM	—	$20.1M	42,120
Invesco Ltd.$IVZ	—	$19.0M	1,023,299
WisdomTree, Inc.$WT	59.9	$15.5M	307,821
Invesco Ltd.$IVZ	—	$14.8M	163,748

Showing top 10 of 64 holdings.

Full Holdings — Headland Capital, LLC (Q2 2026)

All 64 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$SPY	SPDR S&P 500 ETF TRUST	$88.9M	21.9%	+2%	—
2	$PGR	PROGRESSIVE CORP/OH/	$44.5M	11.0%	+1%	80.1
3	—	STATE STREET SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF - ETF	$31.3M	7.7%	+7%	—
4	$GEV	GE Vernova Inc.	$30.2M	7.4%	-4%	81.1
5	—	ISHARES CORE S&P 500 ETF - ETF	$25.0M	6.2%	+8%	—
6	$IVZ	Invesco Ltd.	$21.4M	5.3%	+10%	—
7	$TSM	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$20.1M	5.0%	-3%	—
8	$IVZ	Invesco Ltd.	$19.0M	4.7%	+6%	—
9	$WT	WisdomTree, Inc.	$15.5M	3.8%	+7%	59.9
10	$IVZ	Invesco Ltd.	$14.8M	3.6%	+5%	—
11	$AAPL	Apple Inc.	$12.1M	3.0%	+0%	76.4
12	$AMZN	AMAZON COM INC	$9.4M	2.3%	+2%	68.7
13	$COST	COSTCO WHOLESALE CORP /NEW	$9.0M	2.2%	+2%	66.2
14	—	ISHARES IBONDS DEC 2031 TERM TREASURY ETF - ETF	$8.2M	2.0%	+8%	—
15	—	ISHARES IBONDS DEC 2033 TERM TREASURY ETF - ETF	$8.1M	2.0%	+7%	—
16	$PLD	Prologis, Inc.	$7.2M	1.8%	+4%	68.3
17	$MSFT	MICROSOFT CORP	$7.0M	1.7%	+5%	79.8
18	$BSX	BOSTON SCIENTIFIC CORP	$4.5M	1.1%	+12%	77.5
19	$HII	HUNTINGTON INGALLS INDUSTRIES, INC.	$4.2M	1.0%	+13%	52.2
20	—	VANGUARD TOTAL INTERNATIONAL STOCK ETF - ETF	$3.9M	0.9%	-10%	—
21	$NVDA	NVIDIA CORP	$3.0M	0.8%	-1%	85.9
22	—	STATE STREET SPDR PORTFOLIO S&P 500 VALUE ETF - ETF	$980,178	0.2%	-0%	—
23	$CSCO	CISCO SYSTEMS, INC.	$959,531	0.2%	+0%	70.3
24	$TSLA	Tesla, Inc.	$928,685	0.2%	+2%	53.9
25	$BAC	BANK OF AMERICA CORP /DE/	$884,728	0.2%	-6%	67.6
26	—	ISHARES RUSSELL 1000 GROWTH ETF - ETF	$851,277	0.2%	+300%	—
27	$CIEN	CIENA CORP	$850,140	0.2%	-1%	72.9
28	$GOOGL	Alphabet Inc.	$843,908	0.2%	-18%	78.2
29	$QQQ	INVESCO QQQ TRUST, SERIES 1	$701,789	0.2%	+3%	—
30	$MU	MICRON TECHNOLOGY INC	$601,385	0.1%	NEW	86.2
31	$XOM.R34088	EXXON MOBIL CORP	$595,005	0.1%	+0%	57.9
32	—	VANGUARD SMALL-CAP GROWTH ETF - ETF	$522,585	0.1%	+0%	—
33	$IDCC	InterDigital, Inc.	$494,911	0.1%	-1%	65
34	$AVGO	Broadcom Inc.	$478,609	0.1%	+0%	84.5
35	$ETN	Eaton Corp plc	$405,240	0.1%	+1%	—
36	$ALL	ALLSTATE CORP	$400,929	0.1%	+0%	78.5
37	—	XTRACKERS MSCI EAFE HIGH DIVIDEND YIELD EQUITY ETF - ETF	$388,573	0.1%	+0%	—
38	$IVZ	Invesco Ltd.	$378,694	0.1%	-4%	—
39	$GOOG	Alphabet Inc.	$375,151	0.1%	-0%	78.2
40	$AZO	AUTOZONE INC	$370,729	0.1%	-1%	66.2
41	$MCD	MCDONALDS CORP	$352,957	0.1%	-1%	69
42	—	FIRST TRUST GLOBAL TACTICAL COMMODITY STRATEGY FUND - ETF	$347,834	0.1%	-32%	—
43	—	VANGUARD MID-CAP GROWTH ETF - ETF	$342,750	0.1%	+0%	—
44	—	ISHARES CORE MSCI EAFE ETF - ETF	$341,672	0.1%	-1%	—
45	$PLTR	Palantir Technologies Inc.	$335,426	0.1%	-15%	84.6
46	$V	VISA INC.	$327,308	0.1%	-0%	82.9
47	—	VANGUARD TOTAL STOCK MARKET ETF - ETF	$307,873	0.1%	+0%	—
48	$JNJ	JOHNSON & JOHNSON	$294,103	0.1%	+0%	69
49	$CEG	Constellation Energy Corp	$288,109	0.1%	-2%	59.4
50	$JPM	JPMORGAN CHASE & CO	$265,680	0.1%	+0%	70.7
51	—	FIRST TRUST SMID CAP RISING DIVIDEND ACHIEVERS ETF - ETF	$265,025	0.1%	-23%	—
52	—	ISHARES RUSSELL 1000 VALUE ETF - ETF	$255,764	0.1%	+0%	—
53	—	STATE STREET SPDR S&P CAPITAL MARKETS ETF - ETF	$245,000	0.1%	-14%	—
54	$BX	Blackstone Inc.	$230,751	0.1%	-2%	74.4
55	$BRK.B	BERKSHIRE HATHAWAY INC	$229,179	0.1%	-4%	73.8
56	—	VANGUARD HIGH DIVIDEND YIELD INDEX ETF - ETF	$227,563	0.1%	+0%	—
57	—	VANGUARD DIVIDEND APPRECIATION ETF - ETF	$224,316	0.1%	NEW	—
58	$LLY	ELI LILLY & Co	$218,296	0.1%	NEW	87.5
59	$STX	Seagate Technology Holdings plc	$216,160	0.1%	NEW	—
60	$IVZ	Invesco Ltd.	$210,642	0.1%	NEW	—
61	$ORCL	ORACLE CORP	$209,687	0.1%	-1%	66.2
62	$NVS	NOVARTIS AG	$204,049	0.1%	NEW	—
63	—	STATE STREET SPDR PORTFOLIO SHORT TERM CORPORATE BOND ETF - ETF	$201,817	0.1%	NEW	—
64	$JOBY	Joby Aviation, Inc.	$107,932	0.0%	-13%	29