MORGAN STANLEY

CIK 0000895421 · Q1 2026

13F Equity AUM

$1.7T

-0.9% QoQ

Positions

5,242

-34 QoQ

AUM Rank

#15

Top 0.1%

Skill Alpha (FF)

-1.1%/yr^ns

No Clear Edge

Rank #3,884 · Top 47%

vs S&P -4.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 14.4%Top 10: 21.2%Top 20: 29.2%

AAPL3.7%

NVDA3.6%

MSFT2.8%

AMZN2.2%

GOOGL2.1%

SPY1.6%

AVGO1.4%

META1.3%

GOOG1.2%

JPM1.2%

Others (5232)78.8%

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

Sector Allocation

Financial Services35.9%

Technology21.2%

Healthcare7.5%

Communication Services7.2%

Consumer Cyclical7.2%

Industrials6.8%

Energy3.7%

Consumer Defensive3.6%

Other7.0%

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

Position Sizing

Positions: 5242Median: 0.00%Avg: 0.02%

0–0.5%

5215(66.8%)

0.5–1%

17(12.1%)

1–3%

8(13.8%)

3–5%

2(7.3%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 4,839Unique: 403vs 20 funds

66.3%High

5,242

Fund positions

6,896

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 8 benchmark funds with highest portfolio overlap (Jaccard similarity)

BANK OF AMERICA CORP /DE/

77.7%

JPMORGAN CHASE & CO

55.6%

BlackRock, Inc.

61.4%

STATE STREET CORP

56.4%

GEODE CAPITAL MANAGEMENT, LLC

52.5%

VANGUARD CAPITAL MANAGEMENT LLC

51.1%

FMR LLC

49.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

50.3%

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

New527Increased3461Decreased3480Exited436

New Positions

AZN0.1%

+7.0M

SUNBELT RENTALS HOLD…0.0%

+2.8M

INDV0.0%

+3.5M

QIAGEN NV0.0%

+4.2M

AMCOR PLC0.0%

+5.3M

PNFP0.0%

+1.6M

BLCR0.0%

+3.7M

RSPA0.0%

+406K

INFLEQTION INC0.0%

+225K

EFAA0.0%

+469K

Increased

OPEN0.0%

+51.2M(+99%)

VALE0.0%

+33.5M(+266%)

IEMG0.5%

+23.5M(+23%)

SAN0.1%

+22.0M(+39%)

GRABW0.0%

+21.0M(+19%)

NU0.1%

+20.3M(+17%)

NVDA3.6%

+19.2M(+6%)

AUR0.1%

+14.7M(+8%)

AAPL3.7%

+14.0M(+6%)

FITB0.1%

+13.8M(+126%)

Decreased

ABEV0.0%

-35,141,322(-77%)

PEB 1.75 12/15/260.0%

-33,029,000(-94%)

SPYM0.1%

-13,605,842(-44%)

RPRX0.1%

-11,702,436(-21%)

AKAM 1.125 02/15/290.0%

-11,441,000(-42%)

AVTR0.0%

-11,370,131(-65%)

INTC0.1%

-11,259,882(-17%)

IOT0.0%

-10,651,348(-56%)

SPYV0.0%

-10,373,342(-53%)

UBER 0.875 12/01/28 0.0%

-9,880,000(-56%)

Exited

-13,878,726

-30,237,924

-917,999

-3,250,329

INDIVIOR PLC

-4,377,774

-1,494,011

-12,037,265

-4,567,873

-1,962,343

-542,722

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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