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Livermore
Livermore
ZHEN

Ulland Investment Advisors, LLC

SEC CIK
0001911497
Latest filing
Jul 16, 2026

The latest 13F from Ulland Investment Advisors, LLC covers Q2 2026 (filed Jul 16, 2026): 227 long positions worth $135.6M. The top 10 holdings make up 51.5% of the portfolio, and the largest is Alphabet Inc. (GOOG) at 8.1%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
23
Est. +$2.11M
Added
35
Est. +$3.18M
Reduced
48
Est. −$4.69M
Sold out
9
Est. −$1.26M

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGAlphabet Inc.
    8.1%$11.0MHistory
  2. NVDANVIDIA Corp
    7.7%$10.4MHistory
  3. VRTVertiv Holdings Co
    6.5%$8.84MHistory
  4. Invesco QQQ Trust Series I46090E103
    5.2%$7.02M
  5. AXONAxon Enterprise, Inc.
    4.6%$6.28MHistory

Share of portfolio

Top 5 holdings and the other 222 positions, by share of portfolio value

  1. GOOG8.1%
  2. NVDA7.7%
  3. VRT6.5%
  4. Invesco QQQ Trust Series I5.2%
  5. AXON4.6%
  6. Other 222 positions67.9%

Biggest buys

New and added positions, by estimated amount bought

  1. XOMExxonMobil Holdings Corp
    +$623.0KNewHistory
  2. NRPNatural Resource Partners LP
    +$534.0KNewHistory
  3. DMLPDorchester Minerals, L.P.
    +$372.4KAddedHistory
  4. USACUSA Compression Partners, LP
    +$343.0KNewHistory
  5. MIRMirion Technologies, Inc.
    +$266.0KNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. XOMExxonMobil Holdings Corp
    +0.46 pp0.0% → 0.5%History
  2. NRPNatural Resource Partners LP
    +0.39 pp0.0% → 0.4%History
  3. DMLPDorchester Minerals, L.P.
    +0.27 pp<0.1% → 0.3%History
  4. USACUSA Compression Partners, LP
    +0.25 pp0.0% → 0.3%History
  5. MIRMirion Technologies, Inc.
    +0.20 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BRK.ABerkshire Hathaway Inc
    −$1.50MReducedHistory
  2. XOMExxonMobil Holdings Corp
    −$788.0KSold outHistory
  3. VMDViemed Healthcare, Inc.
    −$379.6KReducedHistory
  4. Invesco QQQ Trust Series I46090E103
    −$329.2KReduced
  5. CVLTCommvault Systems Inc
    −$323.0KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. BRK.ABerkshire Hathaway Inc
    −1.36 pp2.5% → 1.1%History
  2. METAMeta Platforms, Inc.
    −0.88 pp5.3% → 4.4%History
  3. XOMExxonMobil Holdings Corp
    −0.68 pp0.7% → 0.0%History
  4. ICEIntercontinental Exchange, Inc.
    −0.43 pp1.3% → 0.8%History
  5. LOWLowes Companies Inc
    −0.38 pp1.7% → 1.3%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$135.6M
+$19.0M (+16.3%) vs. prior quarter
Positions
227
+14 vs. prior quarter
Top 10 concentration
51.5%
Top 10 as share of value
Turnover
4.2%
Q2 2026, one quarter
Average holding period
15.5 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $156.8M (Q4 2024)

Q4 2021: $156.8MQ1 2022: $133.4MQ2 2022: $97.7MQ3 2022: $91.5MQ4 2022: $83.7MQ1 2023: $85.1MQ2 2023: $97.4MQ3 2023: $91.0MQ4 2023: $99.2MQ1 2024: $125.3MQ2 2024: $143.9MQ3 2024: $136.6MQ4 2024: $156.8MQ1 2025: $119.6MQ2 2025: $131.0MQ3 2025: $132.8MQ4 2025: $124.9MQ1 2026: $116.6MQ2 2026: $135.6M
Q4 2021Q2 2026
13F filings of Ulland Investment Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 16, 2026227$135.6MGOOGNVDAVRTvs. Q1 2026SEC
Q1 2026Apr 27, 2026213$116.6MNVDAGOOGVRTvs. Q4 2025SEC
Q4 2025Jan 8, 2026218$124.9MGOOGNVDAMETAvs. Q3 2025SEC
Q3 2025Nov 13, 2025228$132.8MNVDAGOOGMETAvs. Q2 2025SEC
Q2 2025Jul 24, 2025213$131.0MNVDAAXONMETAvs. Q1 2025SEC
Q1 2025Apr 15, 2025225$119.6MNVDAAXONMETAvs. Q4 2024SEC
Q4 2024Jan 16, 2025212$156.8MNVDAAXONWFC.PLvs. Q3 2024SEC
Q3 2024Oct 15, 2024205$136.6MNVDAInvesco QQQ Trust Series IAXONvs. Q2 2024SEC
Q2 2024Jul 16, 2024223$143.9MNVDAWFC.PLGOOGvs. Q1 2024SEC
Q1 2024Apr 25, 2024233$125.3MNVDAInvesco QQQ Trust Series IGOOGvs. Q4 2023SEC
Q4 2023Jan 16, 2024211$99.2MInvesco QQQ Trust Series IGOOGUNHvs. Q3 2023SEC
Q3 2023Oct 23, 2023218$91.0MUNHGOOGInvesco QQQ Trust Series Ivs. Q2 2023SEC
Q2 2023Jul 20, 2023218$97.4MAAPLUNHInvesco QQQ Trust Series Ivs. Q1 2023SEC
Q1 2023Apr 17, 2023212$85.1MUNHAAPLGOOGvs. Q4 2022SEC
Q4 2022Jan 31, 2023221$83.7MUNHAAPLGOOGvs. Q3 2022SEC
Q3 2022Oct 12, 2022225$91.5MUNHInvesco QQQ Trust Series IAAPLvs. Q2 2022SEC
Q2 2022Jul 25, 2022254$97.7MUNHInvesco QQQ Trust Series IGOOGvs. Q1 2022SEC
Q1 2022May 9, 2022267$133.4MGOOGInvesco QQQ Trust Series IWFC.PLvs. Q4 2021SEC
Q4 2021Feb 16, 2022221$156.8MWFC.PLInvesco QQQ Trust Series IGOOG–SEC