TOWER BRIDGE ADVISORS

CIK 0001278249 · Q1 2026

13F Equity AUM

$1.0B

+4.6% QoQ

Positions

221

+32 QoQ

AUM Rank

#2,732

Top 22%

Skill Alpha (FF)

-2.1%/yr

Underperformer

Rank #5,309 · Top 65%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 23.1%Top 10: 33.4%Top 20: 48.0%

AAPL5.3%

GOOG5.1%

MSFT5.1%

AVGO4.0%

JPM3.6%

LRCX2.2%

ORCL2.1%

JNJ2.1%

MCD2.0%

RTX2.0%

Others (211)66.6%

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

Sector Allocation

Technology23.2%

Financial Services21.7%

Industrials11.9%

Healthcare10.6%

Communication Services9.1%

Consumer Cyclical6.4%

Consumer Defensive5.9%

Energy5.5%

Other5.6%

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

Position Sizing

Positions: 221Median: 0.13%Avg: 0.45%

0–0.5%

160(18.9%)

0.5–1%

29(20.1%)

1–3%

27(37.9%)

3–5%

2(7.5%)

5%+

3(15.5%)

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

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Portfolio Overlap

Shared: 221Unique: 0vs 20 funds

3%Low

221

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

4.2%

BANK OF AMERICA CORP /DE/

4.7%

4.4%

7.3%

5.3%

5.1%

VANGUARD CAPITAL MANAGEMENT LLC

4.8%

GEODE CAPITAL MANAGEMENT, LLC

4.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

5.5%

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

New59Increased66Decreased62Exited26

New Positions

VOO1.8%

+31K

SCHD0.7%

+248K

VEU0.7%

+95K

SPY0.6%

+9K

VO0.5%

+19K

VIG0.3%

+12K

RSP0.3%

+14K

SCHM0.2%

+70K

IVV0.2%

+3K

VB0.2%

+8K

Increased

UPS0.6%

+37K(+126%)

DUK1.1%

+10K(+13%)

WM0.7%

+8K(+38%)

ENB0.4%

+7K(+11%)

WMT0.8%

+6K(+11%)

WMB0.1%

+6K(+118%)

AMZN1.1%

+5K(+10%)

SO0.2%

+5K(+38%)

SCHW1.1%

+5K(+4%)

NVDA0.9%

+4K(+9%)

Decreased

LRCX2.2%

-26,803(-20%)

PFE0.1%

-8,991(-18%)

BRO0.4%

-6,554(-10%)

EPD0.5%

-3,000(-2%)

UL0.1%

-2,843(-21%)

BAC0.1%

-2,113(-13%)

DHR0.7%

-2,041(-5%)

SOLS0.0%

-1,890(-29%)

MO0.1%

-1,675(-18%)

GOOG5.1%

-1,607(-1%)

Exited

-174,457

-46,314

-103,119

-86,222

-33,795

-19,735

-7,201

-25,100

-22,350

-21,731

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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