# EDGAR Filing Document

**Accession Number:** 0001842149
**File Stem:** 0001951757-25-001071
**Filing Date:** 2025-8
**Character Count:** 14784
**Document Hash:** 92a203cff38f8948cfcbb81574e4a255
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001951757-25-001071.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0001951757-25-001071

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250812

**EFFECTIVENESS DATE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Heron Bay Capital Management
- **CENTRAL INDEX KEY:** 0001842149

**ORGANIZATION NAME:**
- **EIN:** 844098993
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20805
- **FILM NUMBER:** 251205477

**BUSINESS ADDRESS:**
- **STREET 1:** 40701 WOODWARD AVE SUITE 104
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304
- **BUSINESS PHONE:** 2489700900

**MAIL ADDRESS:**
- **STREET 1:** 40701 WOODWARD AVE SUITE 104
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Heron Bay Capital Management<br>**Address:** 40701 WOODWARD AVE SUITE 104<br>BLOOMFIELD HILLS, MI 48304

**Form 13F File Number:** 028-20805

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Kevin Kuhl<br>**Title:** Chief Compliance Officer<br>**Phone:** (248) 970-0900

**Signature, Place, and Date of Signing:**

Kevin Kuhl  Bloomfield Hills, MI  08-12-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 114

**Form 13F Information Table Value Total:** $508248667

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 2023 ETF SERIES TRUST II | GMO US QUALITY E | 90139K100 |  | 448840 | 13101 | SH |  | SOLE |  | 0 | 0 | 13101 |
| 8X8 INC NEW | COM | 282914100 |  | 86575 | 44171 | SH |  | SOLE |  | 0 | 0 | 44171 |
| ABRDN HEALTHCARE OPPORTUNITI | SHS | 879105104 |  | 8396138 | 456560 | SH |  | SOLE |  | 0 | 0 | 456560 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 468660 | 1568 | SH |  | SOLE |  | 0 | 0 | 1568 |
| ADVENT CONV  INCOME FD | COM | 00764C109 |  | 518586 | 42823 | SH |  | SOLE |  | 0 | 0 | 42823 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 25126704 | 142579 | SH |  | SOLE |  | 0 | 0 | 142579 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3108582 | 17524 | SH |  | SOLE |  | 0 | 0 | 17524 |
| AMAZON COM INC | COM | 023135106 |  | 20730848 | 94493 | SH |  | SOLE |  | 0 | 0 | 94493 |
| AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 |  | 268836 | 2951 | SH |  | SOLE |  | 0 | 0 | 2951 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 4772054 | 69442 | SH |  | SOLE |  | 0 | 0 | 69442 |
| APPLE INC | COM | 037833100 |  | 1498021 | 7301 | SH |  | SOLE |  | 0 | 0 | 7301 |
| ARCH CAP GROUP LTD | ORD | G0450A105 |  | 453884 | 4985 | SH |  | SOLE |  | 0 | 0 | 4985 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 7514376 | 15469 | SH |  | SOLE |  | 0 | 0 | 15469 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 728800 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BIOTE CORP | CLASS A COM | 090683103 |  | 173246 | 43096 | SH |  | SOLE |  | 0 | 0 | 43096 |
| BITCOIN DEPOT INC | COM | 09174P105 |  | 326696 | 64437 | SH |  | SOLE |  | 0 | 0 | 64437 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 |  | 244699 | 5192 | SH |  | SOLE |  | 0 | 0 | 5192 |
| BORGWARNER INC | COM | 099724106 |  | 1020906 | 30493 | SH |  | SOLE |  | 0 | 0 | 30493 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 977043 | 21107 | SH |  | SOLE |  | 0 | 0 | 21107 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 207798 | 3759 | SH |  | SOLE |  | 0 | 0 | 3759 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 808751 | 13076 | SH |  | SOLE |  | 0 | 0 | 13076 |
| BROWN  BROWN INC | COM | 115236101 |  | 9965978 | 89889 | SH |  | SOLE |  | 0 | 0 | 89889 |
| CARECLOUD INC | COM | 14167R100 |  | 286605 | 121443 | SH |  | SOLE |  | 0 | 0 | 121443 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 5130345 | 23188 | SH |  | SOLE |  | 0 | 0 | 23188 |
| CHUBB LIMITED | COM | H1467J104 |  | 447617 | 1545 | SH |  | SOLE |  | 0 | 0 | 1545 |
| CIRRUS LOGIC INC | COM | 172755100 |  | 2608773 | 25023 | SH |  | SOLE |  | 0 | 0 | 25023 |
| COMSCORE INC | COM NEW | 20564W204 |  | 54167 | 11238 | SH |  | SOLE |  | 0 | 0 | 11238 |
| COMSTOCK HLDG COS INC | CL A NEW | 205684202 |  | 117407 | 11636 | SH |  | SOLE |  | 0 | 0 | 11636 |
| CONSENSUS CLOUD SOLUTIONS IN | COM | 20848V105 |  | 27181883 | 1178746 | SH |  | SOLE |  | 0 | 0 | 1178746 |
| CORPAY INC | COM SHS | 219948106 |  | 6597909 | 19884 | SH |  | SOLE |  | 0 | 0 | 19884 |
| CUMBERLAND PHARMACEUTICALS I | COM | 230770109 |  | 111391 | 33251 | SH |  | SOLE |  | 0 | 0 | 33251 |
| DEFINITIVE HEALTHCARE CORP | CLASS A COM | 24477E103 |  | 111739 | 28651 | SH |  | SOLE |  | 0 | 0 | 28651 |
| DISNEY WALT CO | COM | 254687106 |  | 589048 | 4750 | SH |  | SOLE |  | 0 | 0 | 4750 |
| DOCUSIGN INC | COM | 256163106 |  | 1253484 | 16093 | SH |  | SOLE |  | 0 | 0 | 16093 |
| DROPBOX INC | CL A | 26210C104 |  | 338481 | 11835 | SH |  | SOLE |  | 0 | 0 | 11835 |
| E2OPEN PARENT HOLDINGS INC | COM CL A | 29788T103 |  | 88376 | 27361 | SH |  | SOLE |  | 0 | 0 | 27361 |
| EATON VANCE TAX-MANAGED DIVE | COM | 27828N102 |  | 6288299 | 406483 | SH |  | SOLE |  | 0 | 0 | 406483 |
| EATON VANCE TX ADV GLBL DIV | COM | 27828S101 |  | 6578656 | 314167 | SH |  | SOLE |  | 0 | 0 | 314167 |
| EBAY INC. | COM | 278642103 |  | 207648 | 2789 | SH |  | SOLE |  | 0 | 0 | 2789 |
| ESPEY MFG  ELECTRS CORP | COM | 296650104 |  | 274077 | 5996 | SH |  | SOLE |  | 0 | 0 | 5996 |
| ETSY INC | COM | 29786A106 |  | 1314944 | 26215 | SH |  | SOLE |  | 0 | 0 | 26215 |
| EVEREST GROUP LTD | COM | G3223R108 |  | 622265 | 1831 | SH |  | SOLE |  | 0 | 0 | 1831 |
| EXELIXIS INC | COM | 30161Q104 |  | 3247578 | 73683 | SH |  | SOLE |  | 0 | 0 | 73683 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 316781 | 1878 | SH |  | SOLE |  | 0 | 0 | 1878 |
| EXPENSIFY INC | COM CL A | 30219Q106 |  | 36630 | 14143 | SH |  | SOLE |  | 0 | 0 | 14143 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 16230620 | 36287 | SH |  | SOLE |  | 0 | 0 | 36287 |
| FORTINET INC | COM | 34959E109 |  | 227509 | 2152 | SH |  | SOLE |  | 0 | 0 | 2152 |
| FOX CORP | CL A COM | 35137L105 |  | 10923736 | 194927 | SH |  | SOLE |  | 0 | 0 | 194927 |
| FREIGHTCAR AMER INC | COM | 357023100 |  | 142756 | 16561 | SH |  | SOLE |  | 0 | 0 | 16561 |
| HENNESSY ADVISORS INC | COM | 425885100 |  | 131216 | 10414 | SH |  | SOLE |  | 0 | 0 | 10414 |
| HERITAGE GLOBAL INC | COM | 42727E103 |  | 78859 | 35522 | SH |  | SOLE |  | 0 | 0 | 35522 |
| HF FOODS GROUP INC | COM | 40417F109 |  | 71257 | 22408 | SH |  | SOLE |  | 0 | 0 | 22408 |
| HP INC | COM | 40434L105 |  | 648606 | 26517 | SH |  | SOLE |  | 0 | 0 | 26517 |
| IM CANNABIS CORP | COM NEW | 44969Q406 |  | 195399 | 78790 | SH |  | SOLE |  | 0 | 0 | 78790 |
| INCYTE CORP | COM | 45337C102 |  | 2339371 | 34352 | SH |  | SOLE |  | 0 | 0 | 34352 |
| INSTALLED BLDG PRODS INC | COM | 45780R101 |  | 3505601 | 19441 | SH |  | SOLE |  | 0 | 0 | 19441 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2026 CB | 46138J791 |  | 570101 | 29206 | SH |  | SOLE |  | 0 | 0 | 29206 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 230383 | 2108 | SH |  | SOLE |  | 0 | 0 | 2108 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 |  | 605582 | 15636 | SH |  | SOLE |  | 0 | 0 | 15636 |
| KKR  CO INC | COM | 48251W104 |  | 12469579 | 93735 | SH |  | SOLE |  | 0 | 0 | 93735 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 6006417 | 22881 | SH |  | SOLE |  | 0 | 0 | 22881 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 8845188 | 90869 | SH |  | SOLE |  | 0 | 0 | 90869 |
| LOGPROSTYLE INC | COM | J3921Q102 |  | 78451 | 95789 | SH |  | SOLE |  | 0 | 0 | 95789 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 30940807 | 82515 | SH |  | SOLE |  | 0 | 0 | 82515 |
| MCKESSON CORP | COM | 58155Q103 |  | 14063873 | 19192 | SH |  | SOLE |  | 0 | 0 | 19192 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 6164210 | 19640 | SH |  | SOLE |  | 0 | 0 | 19640 |
| META PLATFORMS INC | CL A | 30303M102 |  | 19381512 | 26259 | SH |  | SOLE |  | 0 | 0 | 26259 |
| MICROSOFT CORP | COM | 594918104 |  | 24305814 | 48865 | SH |  | SOLE |  | 0 | 0 | 48865 |
| MISTRAS GROUP INC | COM | 60649T107 |  | 83857 | 10469 | SH |  | SOLE |  | 0 | 0 | 10469 |
| MOTORSPORT GAMES INC | CL A NEW | 62011B201 |  | 131706 | 45416 | SH |  | SOLE |  | 0 | 0 | 45416 |
| MSCI INC | COM | 55354G100 |  | 6712214 | 11638 | SH |  | SOLE |  | 0 | 0 | 11638 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 386926 | 5606 | SH |  | SOLE |  | 0 | 0 | 5606 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 335907 | 24483 | SH |  | SOLE |  | 0 | 0 | 24483 |
| NUVEEN MULTI ASSET INCOME FU | COM | 670750108 |  | 3671735 | 290715 | SH |  | SOLE |  | 0 | 0 | 290715 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 344477 | 2180 | SH |  | SOLE |  | 0 | 0 | 2180 |
| OPEN TEXT CORP | COM | 683715106 |  | 438642 | 15022 | SH |  | SOLE |  | 0 | 0 | 15022 |
| OPORTUN FINL CORP | COM | 68376D104 |  | 176329 | 24627 | SH |  | SOLE |  | 0 | 0 | 24627 |
| OXBRIDGE RE HLDGS LTD | SHS | G6856M106 |  | 26939 | 15482 | SH |  | SOLE |  | 0 | 0 | 15482 |
| PERFECT CORP | CL A ORD SHS | G7006A109 |  | 27060 | 11765 | SH |  | SOLE |  | 0 | 0 | 11765 |
| POOL CORP | COM | 73278L105 |  | 4056308 | 13916 | SH |  | SOLE |  | 0 | 0 | 13916 |
| PROGRESS SOFTWARE CORP | COM | 743312100 |  | 7477080 | 117122 | SH |  | SOLE |  | 0 | 0 | 117122 |
| QORVO INC | COM | 74736K101 |  | 1182457 | 13926 | SH |  | SOLE |  | 0 | 0 | 13926 |
| QUAD / GRAPHICS INC | COM CL A | 747301109 |  | 287269 | 50844 | SH |  | SOLE |  | 0 | 0 | 50844 |
| QUALCOMM INC | COM | 747525103 |  | 364228 | 2287 | SH |  | SOLE |  | 0 | 0 | 2287 |
| RANGER ENERGY SVCS INC | COM CL A | 75282U104 |  | 144128 | 12071 | SH |  | SOLE |  | 0 | 0 | 12071 |
| RESEARCH SOLUTIONS INC | COM | 761025105 |  | 37580 | 13094 | SH |  | SOLE |  | 0 | 0 | 13094 |
| RF INDS LTD | COM PAR $0.01 | 749552105 |  | 67327 | 10406 | SH |  | SOLE |  | 0 | 0 | 10406 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 14196873 | 42740 | SH |  | SOLE |  | 0 | 0 | 42740 |
| SALESFORCE INC | COM | 79466L302 |  | 5203471 | 19082 | SH |  | SOLE |  | 0 | 0 | 19082 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 24174454 | 264955 | SH |  | SOLE |  | 0 | 0 | 264955 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 2599779 | 34887 | SH |  | SOLE |  | 0 | 0 | 34887 |
| SONOMA PHARMACEUTICALS INC | COM | 83558L303 |  | 96110 | 33782 | SH |  | SOLE |  | 0 | 0 | 33782 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 22958951 | 277282 | SH |  | SOLE |  | 0 | 0 | 277282 |
| SYNCHRONOSS TECHNOLOGIES INC | COM NEW | 87157B400 |  | 204931 | 29917 | SH |  | SOLE |  | 0 | 0 | 29917 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 972322 | 4293 | SH |  | SOLE |  | 0 | 0 | 4293 |
| TEADS HLDG CO | COM | 69002R103 |  | 83137 | 33523 | SH |  | SOLE |  | 0 | 0 | 33523 |
| TECOGEN INC NEW | COM NEW | 87876P201 |  | 252736 | 37167 | SH |  | SOLE |  | 0 | 0 | 37167 |
| TEXAS INSTRS INC | COM | 882508104 |  | 5151015 | 24810 | SH |  | SOLE |  | 0 | 0 | 24810 |
| TRANSUNION | COM | 89400J107 |  | 15931351 | 181038 | SH |  | SOLE |  | 0 | 0 | 181038 |
| TRINET GROUP INC | COM | 896288107 |  | 5750278 | 78620 | SH |  | SOLE |  | 0 | 0 | 78620 |
| TRIVAGO N V | SPON ADS A SHS N | 89686D303 |  | 123464 | 32749 | SH |  | SOLE |  | 0 | 0 | 32749 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 15809041 | 33793 | SH |  | SOLE |  | 0 | 0 | 33793 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 1108596 | 3858 | SH |  | SOLE |  | 0 | 0 | 3858 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 242089 | 776 | SH |  | SOLE |  | 0 | 0 | 776 |
| UPLAND SOFTWARE INC | COM | 91544A109 |  | 180556 | 92593 | SH |  | SOLE |  | 0 | 0 | 92593 |
| VINCE HLDG CORP | COM NEW | 92719W207 |  | 68697 | 47706 | SH |  | SOLE |  | 0 | 0 | 47706 |
| VONTIER CORPORATION | COM | 928881101 |  | 31289717 | 847960 | SH |  | SOLE |  | 0 | 0 | 847960 |
| WALMART INC | COM | 931142103 |  | 279846 | 2862 | SH |  | SOLE |  | 0 | 0 | 2862 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 7549791 | 658795 | SH |  | SOLE |  | 0 | 0 | 658795 |
| WM TECHNOLOGY INC | COM | 92971A109 |  | 152567 | 170276 | SH |  | SOLE |  | 0 | 0 | 170276 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 10661855 | 34576 | SH |  | SOLE |  | 0 | 0 | 34576 |
| ZEDGE INC | CL B | 98923T104 |  | 352784 | 87976 | SH |  | SOLE |  | 0 | 0 | 87976 |
| ZOETIS INC | CL A | 98978V103 |  | 4948950 | 31734 | SH |  | SOLE |  | 0 | 0 | 31734 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 2146166 | 27522 | SH |  | SOLE |  | 0 | 0 | 27522 |

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