Leith Wheeler Investment Counsel Ltd.

CIK 0001353651 · Q1 2026

13F Equity AUM

$1.2B

-9.2% QoQ

Positions

-3 QoQ

AUM Rank

#2,492

Top 20%

Skill Alpha (FF)

-1.8%/yr^ns

No Clear Edge

Rank #4,931 · Top 60%

vs S&P -3.8%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 42.2%Top 10: 53.9%Top 20: 71.9%

IVV31.2%

LHX3.1%

WFC2.7%

GOOGL2.6%

V2.6%

DIS2.5%

UNH2.5%

MDT2.3%

BWA2.2%

CRM2.2%

Others (74)46.1%

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

Sector Allocation

Financial Services43.8%

Healthcare13.0%

Technology12.1%

Industrials7.9%

Consumer Cyclical7.4%

Communication Services7.0%

Basic Materials2.1%

Other6.6%

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

Position Sizing

Positions: 84Median: 0.69%Avg: 1.19%

0–0.5%

34(3.6%)

0.5–1%

23(16.6%)

1–3%

25(45.6%)

3–5%

1(3.1%)

5%+

1(31.2%)

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

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Portfolio Overlap

Shared: 82Unique: 2vs 20 funds

1.1%Low

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

1.6%

JPMORGAN CHASE & CO

1.7%

BANK OF AMERICA CORP /DE/

1.7%

FMR LLC

2.8%

BlackRock, Inc.

STATE STREET CORP

2.3%

GEODE CAPITAL MANAGEMENT, LLC

2.1%

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

2.4%

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

New8Increased35Decreased29Exited11

New Positions

WYNN1.3%

+150K

SPDR MSCI EAFA FOSSI…0.9%

+222K

ICLR0.7%

+81K

WAT0.5%

+21K

RUSHA0.3%

+55K

ASML0.1%

+1K

NVSN0.0%

+1K

IQV0.0%

+2K

Increased

FA0.7%

+135K(+23%)

HLMN0.6%

+135K(+19%)

MSFT1.9%

+58K(+1108%)

AWR0.8%

+48K(+61%)

GNTX0.6%

+46K(+15%)

V2.6%

+29K(+38%)

DIS2.5%

+23K(+8%)

ORI0.9%

+20K(+8%)

LPX0.6%

+19K(+23%)

RRC0.7%

+17K(+10%)

Decreased

IVV31.2%

-97,112(-14%)

BWA2.2%

-44,361(-8%)

LHX3.1%

-39,831(-27%)

KEYS1.0%

-27,061(-38%)

GOOGL2.6%

-22,657(-17%)

GMED1.1%

-13,788(-8%)

MKSI0.7%

-11,235(-23%)

HSIC2.2%

-8,079(-2%)

CPAY1.1%

-4,027(-8%)

NVDA0.2%

-1,000(-7%)

Exited

-67,433

-156,904

-219,527

-15,030

-12,740

-2,500

-6,280

-1,770

-1,410

-905

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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