Portfolio (Quarterly) Guide ↗

NORTHLAND SECURITIES, INC.

· CIK 0001006938

13F Portfolio $104M AUM Filed Jan 23, 2026 EDGAR ↗ ← All Funds

Q1 2026 Q4 2025 · All 111 New

Page 6 of 6 · 111 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
101	AEP	AMERICAN ELEC PWR CO INC COM	Utilities	1,845.0	$213K	0.20%	NEW	—	$115.31	+12.4%
102	BIL	SPDR SER TR STATE STREET SPDR BLOOMBERG 1-3 MNTH T BILL ETF NEW	—	2,321.0	$212K	0.20%	NEW	—	$91.38	+0.2%
103	VRT	VERTIV HLDGS CO CL A	Industrials	1,301.0	$211K	0.20%	NEW	—	$162.01	+94.8%
104	PG	PROCTER & GAMBLE CO COM	Consumer Defensive	1,458.0	$209K	0.20%	NEW	—	$143.31	-0.6%
105	—	HOLOGIC INC COM	—	2,800.0	$209K	0.20%	NEW	—	$74.49	—
106	FISV	FISERV INC COM	Technology	3,000.0	$202K	0.19%	NEW	—	$67.17	-16.9%
107	GSLC	GOLDMAN SACHS ETF TR TR ACTIVEBETA U S LARGE CAP EQUITY ETF	—	1,522.0	$201K	0.19%	NEW	—	$132.37	+6.4%
108	NIO	NIO INC SHS A SPONSORED AMERICAN DEP SHS REPR 1 SH A ORD SH ISIN#US62914V1061	Consumer Cyclical	12,000.0	$61K	0.06%	NEW	—	$5.10	+9.8%
109	NLST	NETLIST INC COM	—	24,000.0	$21K	0.02%	NEW	—	$0.89	+200.4%
110	—	KINDLY MD INC COM	—	25,000.0	$9K	0.01%	NEW	—	$0.35	—
111	—	ENERPULSE TECHNOLOGIES INC COM	—	19,483.0	—	—	NEW	—	—	—

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① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Technology 32.6%

Financial Services 22.2%

Consumer Cyclical 11.0%

Industrials 7.7%

Healthcare 7.6%

Communication Services 6.4%

Consumer Defensive 5.2%

Energy 2.8%

Utilities 2.5%

Basic Materials 2.0%