BNP PARIBAS FINANCIAL MARKETS

CIK 0001166588 · Q1 2026

13F Equity AUM

$195.3B

-6.5% QoQ

Positions

3,638

+105 QoQ

AUM Rank

#86

Top 0.7%

Skill Alpha (FF)

+0.9%/yr^ns

No Clear Edge

Rank #1,650 · Top 20%

vs S&P -1.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 14.9%Top 10: 23.1%Top 20: 34.0%

NVDA4.3%

MSFT3.2%

TSLA2.8%

AMZN2.4%

AAPL2.2%

IWM1.8%

AVGO1.7%

GOOG1.6%

SPY1.6%

GOOGL1.5%

Others (3628)76.9%

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

Sector Allocation

Technology28.6%

Financial Services26.6%

Consumer Cyclical9.7%

Healthcare7.9%

Communication Services6.9%

Industrials6.3%

Energy3.5%

Consumer Defensive3.1%

Other7.4%

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

Position Sizing

Positions: 3638Median: 0.00%Avg: 0.03%

0–0.5%

3609(60.8%)

0.5–1%

13(8.4%)

1–3%

14(23.2%)

3–5%

2(7.5%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 3,454Unique: 184vs 20 funds

46.2%High

3,638

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)

MORGAN STANLEY

57.4%

BANK OF AMERICA CORP /DE/

58%

BlackRock, Inc.

67.3%

JPMORGAN CHASE & CO

53.9%

STATE STREET CORP

67.1%

GEODE CAPITAL MANAGEMENT, LLC

62.7%

VANGUARD CAPITAL MANAGEMENT LLC

61%

VANGUARD PORTFOLIO MANAGEMENT LLC

63.3%

FMR LLC

58.5%

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

New462Increased2185Decreased1978Exited321

New Positions

VCLT0.1%

+1.5M

AZN0.1%

+170K

SPIB0.0%

+1.2M

KIE0.0%

+602K

SPDW0.0%

+377K

SCHM0.0%

+600K

BMNR0.0%

+621K

Direxion Daily Semic…0.0%

+459K

Super Micro Computer…0.0%

+14.0M

IJK0.0%

+100K

Increased

MKSI 1.25 06/01/300.1%

+40.8M(+235%)

AFRM 0.75 12/15/290.0%

+28.8M(+169482%)

WKC 3.25 07/01/280.0%

+26.6M(+532%)

JAZZ 2 06/15/260.0%

+25.8M(+2253%)

GVA 3.75 05/15/280.1%

+24.7M(+158%)

AEIS 2.5 09/15/280.1%

+23.8M(+113%)

W 3.5 11/15/280.0%

+20.4M(+70390%)

RIVN 4.625 03/15/290.0%

+15.9M(+317%)

SAN0.1%

+15.1M(+10264%)

ALNY 1 09/15/270.0%

+15.0M(+87%)

Decreased

MSTR 0.625 09/15/280.0%

-45,500,000(-100%)

SMCI 3.5 03/01/290.0%

-29,462,000(-96%)

FOUR 0.5 08/01/270.0%

-24,899,000(-99%)

SNAP 0.5 05/01/300.0%

-23,524,000(-100%)

GWRE 1.25 11/01/290.0%

-13,857,000(-69%)

BOX 1.5 09/15/290.0%

-9,987,000(-69%)

TCOM 0.75 06/15/290.0%

-9,789,000(-24%)

WDC 3 11/15/280.1%

-9,758,000(-38%)

LIVN 2.5 03/15/290.0%

-9,434,000(-43%)

GRABW0.0%

-9,272,400(-50%)

Exited

Flutter Entertainmen…

-1,542,762

CMA

-93,017

AZN

-986,410

QIAGEN NV

-1,179,437

-610,547

-30,837,000

-345,279

-554,949

-200,000

-21,584,000

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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