Instuitional Investor - Headland Capital, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf Trust	SPY	116,407	$75,704,245	21.33%
2.	Progressive Corp	PGR	201,569	$39,958,970	11.26%
3.	State Street Spdr Portfolio Developed World Ex-Us Etf - ETF		580,365	$26,493,677	7.46%
4.	Ge Vernova Inc.	GEV	26,716	$23,320,560	6.57%
5.	Ishares Trust	IEF	30,995	$20,246,482	5.7%