ABSOLUTE INVESTMENT ADVISERS, LLC

CIK 0001316187 · Q1 2026

13F Equity AUM

$852.1M

-2.9% QoQ

Positions

122

+1 QoQ

AUM Rank

#3,122

Top 25%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 11.8%Top 10: 21.7%Top 20: 38.0%

GVA 3.25 06/15/302.9%

MKSI 1.25 06/01/302.4%

PATK 1.75 12/01/282.2%

OSIS 2.25 08/01/292.2%

TTEK 2.25 08/15/282.2%

HALO 1 08/15/282.1%

CENX 2.75 05/01/282.1%

FLR 1.125 08/15/292.0%

GBX 2.875 04/15/281.9%

AKAM 1.125 02/15/291.9%

Others (112)78.3%

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

Sector Allocation

Fixed Income29.3%

Technology24.2%

Financial Services18.0%

Healthcare10.9%

Unclassified7.2%

Industrials4.0%

Consumer Defensive2.8%

Other3.6%

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

Position Sizing

Positions: 122Median: 0.71%Avg: 0.82%

0–0.5%

49(10.5%)

0.5–1%

30(23.3%)

1–3%

43(66.2%)

3–5%

0(0.0%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 110Unique: 12vs 20 funds

1.5%Low

122

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 6 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.4%

BANK OF AMERICA CORP /DE/

1.1%

1.3%

1.7%

1.4%

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

New26Increased27Decreased21Exited25

New Positions

ALPHATEC HLDGS INC1.4%

+11.8M

HYT1.2%

+1.2M

ALKAMI TECHNOLOGY IN…1.0%

+9.6M

MCEWEN INC.1.0%

+4.0M

LCI INDS0.9%

+6.5M

JRI0.8%

+586K

XSSPX0.8%

+430K

JOBY AVIATION INC0.6%

+6.1M

BGR0.5%

+228K

BSTZ0.4%

+137K

Increased

BOX 1.5 09/15/291.1%

+4.0M(+62%)

NOG 3.625 04/15/291.3%

+2.5M(+33%)

ALRM 2.25 06/01/291.1%

+2.0M(+25%)

PD 1.5 10/15/28 *1.0%

+2.0M(+29%)

TTEK 2.25 08/15/282.2%

+2.0M(+13%)

SPB 3.375 06/01/291.3%

+1.9M(+20%)

PSN 2.625 03/01/291.8%

+1.8M(+13%)

XNROX0.5%

+1.4M(+3923%)

LMAT 2.5 02/01/301.7%

+1.3M(+11%)

VRNS 1 09/15/291.1%

+1.0M(+10%)

Decreased

SYNA 0.75 12/01/310.2%

-6,500,000(-76%)

W 3.25 09/15/270.7%

-5,068,000(-52%)

GPRE 2.25 03/15/270.3%

-3,832,000(-59%)

ORA 2.5 07/15/270.5%

-2,400,000(-44%)

GWRE 1.25 11/01/291.2%

-2,050,000(-17%)

CNMD 2.25 06/15/270.9%

-2,000,000(-20%)

AAOI 2.75 01/15/301.8%

-2,000,000(-22%)

UPWK 0.25 08/15/261.0%

-1,250,000(-13%)

ACP0.6%

-1,047,922(-50%)

BAND 0.5 04/01/281.0%

-1,000,000(-10%)

Exited

-7,500,000

-10,000,000

-9,000,000

-6,000,000

-5,000,000

-7,500,000

-7,000,000

-6,500,000

-6,000,000

-1,333,225

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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