TRUST CO OF VERMONT

CIK 0001134008 · Q4 2025

13F Equity AUM

$2.4B

+4.3% QoQ

Positions

1,074

+28 QoQ

AUM Rank

#1,612

Top 13%

Skill Alpha (FF)

-0.4%/yr^ns

No Clear Edge

Rank #2,908 · Top 35%

vs S&P -4.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 22.3%Top 10: 33.0%Top 20: 47.0%

AAPL6.6%

GOOG4.9%

MSFT4.8%

AMZN3.1%

JPM2.8%

NVDA2.7%

BRK/B2.6%

COST1.9%

META1.8%

VOO1.7%

Others (1064)67.0%

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

Sector Allocation

Financial Services27.3%

Technology24.6%

Healthcare9.3%

Communication Services8.9%

Industrials8.5%

Consumer Cyclical7.8%

Consumer Defensive5.7%

Energy2.3%

Other5.6%

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

Position Sizing

Positions: 1074Median: 0.00%Avg: 0.09%

0–0.5%

1022(27.7%)

0.5–1%

25(17.7%)

1–3%

23(35.2%)

3–5%

3(12.8%)

5%+

1(6.6%)

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

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Portfolio Overlap

Shared: 1,056Unique: 18vs 20 funds

14.6%Low

1,074

Fund positions

7,201

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)

MORGAN STANLEY

19.9%

BANK OF AMERICA CORP /DE/

21.6%

20.4%

29.9%

21.6%

20.8%

20.3%

GEODE CAPITAL MANAGEMENT, LLC

19.3%

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

New103Increased286Decreased221Exited65

New Positions

UL0.1%

+31K

SCHZ0.0%

+9K

VRT0.0%

+2K

PAAS0.0%

+930

MSSM0.0%

+112

CE0.0%

+51

TRP0.0%

+500

VCSH0.0%

+275

QXO0.0%

+850

NXST0.0%

+12

Increased

VTIP1.5%

+282K(+63%)

VGSH0.1%

+35K(+140%)

IJH1.1%

+30K(+8%)

UBER0.1%

+27K(+1710%)

SCHB0.1%

+27K(+49%)

VEU0.4%

+21K(+19%)

VWO0.3%

+20K(+19%)

AVGO0.5%

+18K(+102%)

BNDX0.1%

+17K(+84%)

AAPL6.6%

+15K(+3%)

Decreased

CMCSA0.1%

-72,334(-47%)

PFE0.2%

-32,076(-15%)

ACN0.6%

-27,565(-34%)

UNP0.8%

-14,945(-15%)

BDX0.3%

-8,574(-18%)

SBUX0.3%

-7,578(-8%)

XOM0.6%

-6,878(-5%)

CHV0.6%

-5,998(-6%)

CLX0.1%

-5,946(-27%)

ABBV1.6%

-5,899(-3%)

Exited

UNLYF

-35,361

-3,000

-4,162

-20,781

-1,980

-379

-1,400

-78

-1,171

-4

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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