Highland Capital Management Q2 2026: Technology Focus and Strategic Shifts in Consumer Stocks
Highland Capital Management's portfolio saw significant changes during the quarter ending June 30, 2026. The firm notably increased its position in IWF by over 300%, while reducing holdings in major tech companies like Apple (AAPL) and Microsoft (MSFT).
Highland Capital Management's portfolio underwent substantial changes during the quarter ending June 30, 2026. The firm demonstrated a clear focus on Technology stocks through its top holdings, while simultaneously reducing exposure in several sectors.
Prominent Purchases This Quarter
Highland Capital Management showed significant buying activity during the period ending June 30, 2026. The most notable purchase was a staggering 317.66% increase in shares of IWF (Russell 1000 Growth Index ETF), which now accounts for approximately 1.15% of the portfolio.
The firm also initiated new positions or significantly increased stakes in several other companies:
- ELANCO ANIMAL HEALTH INC (ELAN): A full 100% increase in shares, now representing a small but notable position of about 0.27%.
- DOUBLEVERIFY HOLDINGS INC (DV): A complete new purchase with a 100% increase, now holding around 0.1%.
- ENERGY TRANSFER EQUITY LP (ET): A brand new position with a 100% increase, now accounting for roughly 0.06%.
- AVANTOR INC (AVTR): A complete new purchase position with a 100% increase, now holding about 0.03%.
Furthermore, Highland significantly boosted its stake in THC (Tenet Healthcare Corp), increasing it by 100%, and also purchased shares of PFGC (Performance Food Group) with a nearly 546% increase over the prior period.
Notable Reductions and Sells
Concurrently, Highland Capital Management reduced its holdings in several key areas:
- MICRON TECHNOLOGY INC (MU): Reduced by approximately 18.3%.
- AAPLE INC (AAPL): Reduced by about 4.2%, despite being a major Technology holding previously.
- MSFT: Reduced by roughly 8.1% in the quarter.
- AVGO: Reduced by nearly 4.7%.
- NVDA: Experienced a slight reduction of about -6.3%, though it was one of the largest Technology holdings previously.
The firm also sold shares in several other stocks:
- GOOGL: Reduced by approximately 7.9%.
- GOOG: Reduced by about 9.9%, another Communication Services holding.
- JPMORGAN CHASE & CO (JPM): Reduced by roughly -4.9% in the quarter.
- IVV: Slightly reduced, though still a significant position at about 2.26%.
- ABBOTT LABORATORIES (ABT): Sold down by approximately -80.5%, a substantial reduction.
Technology Sector Dynamics
The Technology sector remains heavily weighted in Highland's portfolio, comprising about 32.77% of the total value as of June 30, 2026. This allocation includes major players like Apple (AAPL), Microsoft (MSFT), Broadcom (AVGO), and NVIDIA (NVDA).
However, within this sector, there's a clear pattern: while reducing positions in established tech giants such as Micron (MU) and slightly trimming its stake in NVIDIA (NVDA), the firm also sold shares of Alphabet (GOOGL/GOOG). This suggests either rebalancing efforts or shifting preferences towards other Technology components.
Broader Portfolio Changes
The changes observed extend beyond Technology. Highland's portfolio now includes exposure to various sectors, including Financial Services (JPM, SAN), Healthcare (ELAN, THC, PFGC), and Consumer Cyclical (AMZN). The firm also holds positions in Real Estate through STWD.
The overall portfolio structure indicates active management, with the holding count remaining at 400 despite some changes. The top five holdings still represent a significant portion of the assets (22.41%), while other sectors like Consumer Defensive (TAP, PFGC, INGR) and Energy (ET, SLB) show varying degrees of change.