BERKLEY W R CORP

CIK 0000011544 · Q1 2026

13F Equity AUM

$1.9B

+4.2% QoQ

Positions

344

+66 QoQ

AUM Rank

#1,872

Top 15%

Skill Alpha (FF)

+16.8%/yr

Alpha Generator

Rank #133 · Top 2%

vs S&P +5.2%/yr (unadj.)

Quarters Tracked

~11 years

Portfolio Concentration

Top 5: 33.6%Top 10: 42.6%Top 20: 52.7%

EPD13.9%

ET8.6%

KMI5.1%

PAA3.2%

WES2.8%

ON2.4%

PGR2.2%

ANSC1.6%

HAYMAKER ACQUISITION CORP IV1.4%

GBLI1.4%

Others (334)57.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services36.3%

Energy33.6%

Unclassified26.6%

Technology2.4%

Other1.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 344Median: 0.11%Avg: 0.29%

0–0.5%

306(35.5%)

0.5–1%

22(15.6%)

1–3%

12(18.2%)

3–5%

1(3.2%)

5%+

3(27.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 88Unique: 256vs 20 funds

1.2%Low

344

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

JPMORGAN CHASE & CO

1.7%

BANK OF AMERICA CORP /DE/

0.3%

MORGAN STANLEY

0.2%

FMR LLC

0.3%

GEODE CAPITAL MANAGEMENT, LLC

0.3%

BlackRock, Inc.

0.2%

VANGUARD CAPITAL MANAGEMENT LLC

0.2%

STATE STREET CORP

0.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New122Increased73Decreased40Exited55

New Positions

FG IMPERII ACQUISITI…0.5%

+992K

XSOLLA SPAC 10.5%

+920K

GIGCAPITAL9 CORP0.5%

+882K

DAAQW0.4%

+761K

PRAETORIAN ACQUISITI…0.4%

+796K

LAFAYETTE DIGITAL AC…0.3%

+646K

K2 CAP ACQUISITION C…0.3%

+597K

SPACSPHERE ACQUISITI…0.3%

+573K

XFLH CAP CORP0.3%

+572K

SUMA ACQUISITION COR…0.3%

+547K

Increased

ROMAN DBDR ACQUISITI…1.0%

+1.5M(+573%)

MLACU1.1%

+1.5M(+418%)

GIGGW1.0%

+1.3M(+310%)

MCGAW0.9%

+1.3M(+329%)

CAEP1.2%

+1.2M(+112%)

LEGT-WT0.9%

+1.1M(+360%)

ALFUW0.7%

+914K(+376%)

CCIX1.0%

+874K(+93%)

TACOW1.0%

+798K(+78%)

XRPNW0.7%

+682K(+124%)

Decreased

KVACW0.1%

-649,375(-87%)

VOYAGER ACQUISITION …0.8%

-497,241(-28%)

CAPNU0.3%

-266,020(-35%)

GIWWU0.0%

-256,729(-43%)

EQV VENTURES AC CORP…0.0%

-248,088(-42%)

THAYER VENTURES ACQ …0.0%

-248,047(-70%)

RIBBU0.2%

-165,015(-36%)

SPRING VY ACQUISITIO…0.0%

-158,723(-80%)

COLA0.1%

-154,772(-38%)

BEAGU0.0%

-99,991(-39%)

Exited

-443,100

-152,600

-219,400

-133,300

-3,230,319

EQV VENTURES ACQUISI…

-2,574,165

-249,000

-69,600

-51,900

-12,434,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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