Arax Advisory Partners

CIK 0001586767 · Q1 2026

13F Equity AUM

$3.5B

+3.1% QoQ

Positions

3,140

-173 QoQ

AUM Rank

#1,250

Top 10%

Skill Alpha (FF)

-1.3%/yr^ns

No Clear Edge

Rank #4,222 · Top 51%

vs S&P -7.8%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 12.2%Top 10: 20.3%Top 20: 30.9%

VUG3.0%

VTV2.5%

IVV2.5%

NDQ2.1%

DYNF2.0%

SPY2.0%

VTI1.7%

AAPL1.7%

INMU1.5%

TFI1.3%

Others (3130)79.7%

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

Sector Allocation

Financial Services73.4%

Technology7.2%

Healthcare3.8%

Industrials3.3%

Consumer Cyclical2.9%

Communication Services2.3%

Other7.1%

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

Position Sizing

Positions: 3140Median: 0.00%Avg: 0.03%

0–0.5%

3095(52.7%)

0.5–1%

28(19.2%)

1–3%

16(25.1%)

3–5%

1(3.0%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 2,953Unique: 187vs 20 funds

39.4%Moderate

3,140

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

51.8%

BANK OF AMERICA CORP /DE/

53.8%

46.5%

49.1%

45.9%

50.7%

GEODE CAPITAL MANAGEMENT, LLC

44%

VANGUARD CAPITAL MANAGEMENT LLC

43.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

46.8%

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

New406Increased1576Decreased1477Exited715

New Positions

GAUG0.9%

+790K

CORO0.5%

+543K

OTF0.4%

+1.2M

TBIL0.1%

+108K

GNOV0.1%

+71K

GJAN0.1%

+64K

IROC0.1%

+44K

APLU0.1%

+66K

PSQA0.1%

+84K

AZN0.0%

+7K

Increased

INMU1.5%

+2.1M(+6485%)

PROP0.1%

+1.4M(+10785%)

THRO1.2%

+1.1M(+7972%)

DYNF2.0%

+718K(+136%)

TFI1.3%

+675K(+199%)

BINC1.0%

+550K(+385%)

GOVT0.3%

+487K(+1599%)

BAI0.7%

+469K(+175%)

XTEN0.5%

+407K(+140401%)

IUSB0.5%

+356K(+5213%)

Decreased

FPE0.4%

-1,268,362(-59%)

SCHP0.6%

-935,451(-54%)

AVIG0.1%

-667,583(-86%)

IGSB0.5%

-616,793(-67%)

GON0.0%

-515,869(-82%)

CLOZ1.1%

-496,967(-25%)

DFGR0.2%

-490,180(-66%)

AGG0.4%

-329,115(-72%)

FBND0.0%

-304,698(-99%)

DFUS0.1%

-303,254(-85%)

Exited

-15,176

-16,108

-2,269

-47,644

-14,048

-6,311

-4,762

-2,357

-770

HLT

-938

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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