Northland Capital Management LLC Concentrated Active

Location: Virginia, MN

CIK: 0001693032 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Jul 21, 2026

Total Value: $186M (100.0% shares, 0.0% debt)

Holdings (30)

New Positions (1)

FAAA FIDELITY MERRIMACK STR TR 6.5%

Value $12.11M Shares 241,451 Est. Cost $50.16 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FAAA	FIDELITY MERRIMACK STR TR	241,451	$12.11M	6.5%	$50.16	—	AAA CLO ETF	316188838

Increased Positions (14)

FNDF SCHWAB STRATEGIC TR 5.2%

Value $9.591M (+31.6%) Shares 181,790 (+22.0%) Est. Cost $39.13 Unrealized —

FNDX SCHWAB STRATEGIC TR 10.2%

Value $18.91M (+12.9%) Shares 608,030 (+1.1%) Est. Cost $32.23 Unrealized —

AVUV AMERICAN CENTY ETF TR 3.9%

Value $7.144M (+16.4%) Shares 57,266 (+3.0%) Est. Cost $86.90 Unrealized —

XTEN BONDBLOXX ETF TRUST 14.5%

Value $26.92M (+3.7%) Shares 590,565 (+4.3%) Est. Cost $45.85 Unrealized —

FNDA SCHWAB STRATEGIC TR 3.0%

Value $5.498M (+19.9%) Shares 144,466 (+2.1%) Est. Cost $36.30 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 3.2%

Value $5.886M (+16.5%) Shares 82,608 (+4.8%) Est. Cost $45.61 Unrealized —

AVIV AMERICAN CENTY ETF TR 5.3%

Value $9.753M (+9.2%) Shares 125,979 (+5.5%) Est. Cost $49.48 Unrealized —

DFSI DIMENSIONAL ETF TRUST 1.2%

Value $2.166M (+34.4%) Shares 48,027 (+26.3%) Est. Cost $34.92 Unrealized —

FNDC SCHWAB STRATEGIC TR 0.9%

Value $1.703M (+40.2%) Shares 35,078 (+33.8%) Est. Cost $40.03 Unrealized —

STIP ISHARES TR 9.0%

Value $16.76M (+2.5%) Shares 164,032 (+3.7%) Est. Cost $100.32 Unrealized —

GNMA ISHARES TR 5.9%

Value $10.93M (+3.8%) Shares 247,196 (+4.0%) Est. Cost $44.05 Unrealized —

FNDE SCHWAB STRATEGIC TR 2.0%

Value $3.656M (+7.1%) Shares 92,131 (+3.2%) Est. Cost $32.18 Unrealized —

AVDV AMERICAN CENTY ETF TR 1.0%

Value $1.763M (+9.0%) Shares 17,112 (+5.6%) Est. Cost $57.93 Unrealized —

VTEB VANGUARD MUN BD FDS 0.2%

Value $381K (+42.4%) Shares 7,527 (+40.4%) Est. Cost $49.93 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FNDF	SCHWAB STRATEGIC TR	181,790 (+22.0%)	$9.591M (+31.6%)	5.2%	$39.13	—	FUNDAMENTAL INTL	808524755
FNDX	SCHWAB STRATEGIC TR	608,030 (+1.1%)	$18.91M (+12.9%)	10.2%	$32.23	—	FUNDAMENTAL US L	808524771
AVUV	AMERICAN CENTY ETF TR	57,266 (+3.0%)	$7.144M (+16.4%)	3.9%	$86.90	—	US SML CP VALU	025072877
XTEN	BONDBLOXX ETF TRUST	590,565 (+4.3%)	$26.92M (+3.7%)	14.5%	$45.85	—	BLOOMBERG TEN YR	09789C812
FNDA	SCHWAB STRATEGIC TR	144,466 (+2.1%)	$5.498M (+19.9%)	3.0%	$36.30	—	FUNDAMENTAL US S	808524763
VEA	VANGUARD TAX-MANAGED FDS	82,608 (+4.8%)	$5.886M (+16.5%)	3.2%	$45.61	—	VAN FTSE DEV MKT	921943858
AVIV	AMERICAN CENTY ETF TR	125,979 (+5.5%)	$9.753M (+9.2%)	5.3%	$49.48	—	INTERNATIONAL LR	025072364
DFSI	DIMENSIONAL ETF TRUST	48,027 (+26.3%)	$2.166M (+34.4%)	1.2%	$34.92	—	INTERNATIONAL	25434V690
FNDC	SCHWAB STRATEGIC TR	35,078 (+33.8%)	$1.703M (+40.2%)	0.9%	$40.03	—	FUNDAMENTAL INTL	808524748
STIP	ISHARES TR	164,032 (+3.7%)	$16.76M (+2.5%)	9.0%	$100.32	—	0-5 YR TIPS ETF	46429B747
GNMA	ISHARES TR	247,196 (+4.0%)	$10.93M (+3.8%)	5.9%	$44.05	—	GNMA BOND ETF	46429B333
FNDE	SCHWAB STRATEGIC TR	92,131 (+3.2%)	$3.656M (+7.1%)	2.0%	$32.18	—	FUND EM EQUI ETF	808524730
AVDV	AMERICAN CENTY ETF TR	17,112 (+5.6%)	$1.763M (+9.0%)	1.0%	$57.93	—	INTL SMCP VLU	025072802
VTEB	VANGUARD MUN BD FDS	7,527 (+40.4%)	$381K (+42.4%)	0.2%	$49.93	—	TAX EXEMPT BD	922907746

Exited Positions (2)

JAAA JANUS DETROIT STR TR 6.1%

Value $11.3M Shares 224,251 Est. Cost $50.70 Unrealized —

SGOV ISHARES TR 0.2%

Value $392K Shares 3,890 Est. Cost $100.70 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JAAA	JANUS DETROIT STR TR	224,251	$11.3M	6.1%	$50.70	—	—	47103U845
SGOV	ISHARES TR	3,890	$392K	0.2%	$100.70	—	—	46436E718

Decreased Positions (13)

AVLV AMERICAN CENTY ETF TR 8.3%

Value $15.48M (-28.0%) Shares 169,703 (-36.4%) Est. Cost $61.07 Unrealized —

AVSU AMERICAN CENTY ETF TR 2.1%

Value $3.912M (-26.4%) Shares 44,191 (-38.5%) Est. Cost $49.17 Unrealized —

VTI VANGUARD INDEX FDS 6.2%

Value $11.51M (-9.4%) Shares 31,100 (-21.4%) Est. Cost $232.08 Unrealized —

AVES AMERICAN CENTY ETF TR 2.1%

Value $3.88M (-9.4%) Shares 59,145 (-17.2%) Est. Cost $43.37 Unrealized —

DFSU DIMENSIONAL ETF TRUST 2.3%

Value $4.342M (+7.6%) Shares 93,107 (-5.1%) Est. Cost $31.57 Unrealized —

AVSE AMERICAN CENTY ETF TR 0.4%

Value $726K (-20.7%) Shares 8,873 (-35.5%) Est. Cost $39.40 Unrealized —

ESGV VANGUARD WORLD FD 0.9%

Value $1.686M (-8.1%) Shares 12,753 (-22.0%) Est. Cost $76.53 Unrealized —

SUSB ISHARES TR 1.6%

Value $3.004M (-3.7%) Shares 120,212 (-3.4%) Est. Cost $24.81 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 1.0%

Value $1.946M (-5.5%) Shares 32,602 (-14.4%) Est. Cost $42.83 Unrealized —

AVSD AMERICAN CENTY ETF TR 1.2%

Value $2.143M (+5.2%) Shares 26,832 (-3.0%) Est. Cost $44.97 Unrealized —

ESML ISHARES TR 0.5%

Value $916K (+12.0%) Shares 16,369 (-5.9%) Est. Cost $39.98 Unrealized —

VSGX VANGUARD WORLD FD 0.8%

Value $1.436M (-3.8%) Shares 17,437 (-16.2%) Est. Cost $60.28 Unrealized —

DFSE DIMENSIONAL ETF TRUST 0.4%

Value $706K (-4.0%) Shares 14,439 (-16.8%) Est. Cost $31.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVLV	AMERICAN CENTY ETF TR	169,703 (-36.4%)	$15.48M (-28.0%)	8.3%	$61.07	—	US LARGE CAP VLU	025072349
AVSU	AMERICAN CENTY ETF TR	44,191 (-38.5%)	$3.912M (-26.4%)	2.1%	$49.17	—	AVANTIS RESPON U	025072281
VTI	VANGUARD INDEX FDS	31,100 (-21.4%)	$11.51M (-9.4%)	6.2%	$232.08	—	TOTAL STK MKT	922908769
AVES	AMERICAN CENTY ETF TR	59,145 (-17.2%)	$3.88M (-9.4%)	2.1%	$43.37	—	EMERGING MKT VAL	025072372
DFSU	DIMENSIONAL ETF TRUST	93,107 (-5.1%)	$4.342M (+7.6%)	2.3%	$31.57	—	US SUSTAINABILTY	25434V716
AVSE	AMERICAN CENTY ETF TR	8,873 (-35.5%)	$726K (-20.7%)	0.4%	$39.40	—	AVA RES MAR ETF	025072315
ESGV	VANGUARD WORLD FD	12,753 (-22.0%)	$1.686M (-8.1%)	0.9%	$76.53	—	ESG US STK ETF	921910733
SUSB	ISHARES TR	120,212 (-3.4%)	$3.004M (-3.7%)	1.6%	$24.81	—	ESG AWRE 1 5 YR	46435G243
VWO	VANGUARD INTL EQUITY INDEX F	32,602 (-14.4%)	$1.946M (-5.5%)	1.0%	$42.83	—	FTSE EMR MKT ETF	922042858
AVSD	AMERICAN CENTY ETF TR	26,832 (-3.0%)	$2.143M (+5.2%)	1.2%	$44.97	—	AVAN RE INTL ETF	025072299
ESML	ISHARES TR	16,369 (-5.9%)	$916K (+12.0%)	0.5%	$39.98	—	ESG AWARE MSCI	46435U663
VSGX	VANGUARD WORLD FD	17,437 (-16.2%)	$1.436M (-3.8%)	0.8%	$60.28	—	ESG INTL STK ETF	921910725
DFSE	DIMENSIONAL ETF TRUST	14,439 (-16.8%)	$706K (-4.0%)	0.4%	$31.61	—	EMER MARK SU ETF	25434V682

Unchanged Positions (2)

CLF CLEVELAND-CLIFFS INC NEW 0.1%

Value $231K Shares 24,576 Est. Cost $12.85 Unrealized —

MUB ISHARES TR 0.2%

Value $436K Shares 4,055 Est. Cost $106.32 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CLF	CLEVELAND-CLIFFS INC NEW	24,576	$231K	0.1%	$12.85	—	COM	185899101
MUB	ISHARES TR	4,055	$436K	0.2%	$106.32	—	NATIONAL MUN ETF	464288414