Headlands Technologies LLC

CIK 0001570271 · Q1 2026

13F Equity AUM

$877.9M

-26.7% QoQ

Positions

712

+58 QoQ

AUM Rank

#3,049

Top 25%

Skill Alpha (FF)

+7.0%/yr^ns

No Clear Edge

Rank #444 · Top 5%

vs S&P -0.5%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 16.3%Top 10: 24.3%Top 20: 34.4%

MU4.0%

TSLA3.8%

GOOGL3.4%

MSFT3.0%

AMZN2.2%

WMT2.1%

CHV1.6%

WBD1.5%

XLE1.4%

HYG1.4%

Others (702)75.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services22.2%

Technology21.2%

Consumer Cyclical12.3%

Communication Services10.4%

Healthcare8.9%

Industrials7.4%

Consumer Defensive5.4%

Energy5.1%

Other7.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 712Median: 0.06%Avg: 0.14%

0–0.5%

685(61.4%)

0.5–1%

11(7.3%)

1–3%

13(20.3%)

3–5%

3(11.1%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 695Unique: 17vs 20 funds

9.5%Low

712

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

12.8%

BANK OF AMERICA CORP /DE/

13.3%

BlackRock, Inc.

15.7%

JPMORGAN CHASE & CO

12.3%

STATE STREET CORP

16.3%

GEODE CAPITAL MANAGEMENT, LLC

15.9%

VANGUARD CAPITAL MANAGEMENT LLC

15.6%

FMR LLC

16.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

16.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New379Increased142Decreased188Exited320

New Positions

MU4.0%

+103K

GOOGL3.4%

+103K

MIGA1.3%

+94K

GOOG1.3%

+39K

HON1.2%

+48K

SHOP0.8%

+59K

COIN0.6%

+28K

TRVC0.5%

+41K

HOOD0.5%

+65K

DELL0.5%

+26K

Increased

SID0.1%

+333K(+800%)

WBD1.5%

+303K(+176%)

BTDR0.5%

+239K(+101%)

VTRS0.4%

+234K(+666%)

ALLO0.1%

+219K(+468%)

RXRX0.1%

+196K(+85%)

NU0.5%

+162K(+118%)

GRABW0.2%

+149K(+35%)

XLE1.4%

+110K(+111%)

HYG1.4%

+96K(+165%)

Decreased

BLDP0.0%

-262,345(-64%)

AAPL0.8%

-244,316(-90%)

BAC0.3%

-219,860(-80%)

ESPR0.0%

-206,931(-94%)

INTC0.1%

-163,843(-90%)

XOM0.0%

-117,675(-99%)

NVTS0.3%

-114,617(-29%)

RELY0.1%

-113,480(-57%)

NWSA0.3%

-96,259(-49%)

REAL0.0%

-93,256(-80%)

Exited

-331,248

-146,847

-21,052

-89,660

-273,375

-22,575

-71,216

-28,595

-62,890

-94,911

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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