Refined Wealth Management

CIK 0001724729 · Q1 2026

13F Equity AUM

$158.4M

+6.6% QoQ

Positions

+7 QoQ

AUM Rank

#8,326

Top 67%

Skill Alpha (FF)

-0.1%/yr^ns

No Clear Edge

Rank #2,501 · Top 30%

vs S&P -8.8%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 40.0%Top 10: 64.9%Top 20: 91.8%

VEA11.3%

NDQ8.4%

RSP7.9%

COIN6.5%

CHV5.8%

BITB5.7%

PYLD5.1%

BINC4.9%

GQ94.6%

VTV4.5%

Others (40)35.1%

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

Sector Allocation

Financial Services83.5%

Energy10.0%

Industrials3.3%

Other3.2%

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

Position Sizing

Positions: 50Median: 0.46%Avg: 2.00%

0–0.5%

26(5.3%)

0.5–1%

3(1.6%)

1–3%

7(13.3%)

3–5%

7(28.8%)

5%+

7(50.9%)

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

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Portfolio Overlap

Shared: 46Unique: 4vs 20 funds

0.6%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)

BANK OF AMERICA CORP /DE/

0.9%

0.9%

0.8%

1.1%

0.7%

VANGUARD CAPITAL MANAGEMENT LLC

0.6%

GEODE CAPITAL MANAGEMENT, LLC

0.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.5%

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

New14Increased9Decreased20Exited7

New Positions

CHV5.8%

+44K

PYLD5.1%

+310K

BINC4.9%

+148K

MPC3.9%

+25K

EMXC3.8%

+77K

SCHR3.6%

+228K

JPIB3.5%

+117K

PICK2.8%

+78K

REMX2.1%

+38K

AVUV1.5%

+22K

Increased

VEA11.3%

+255K(+1012%)

RSP7.9%

+62K(+1973%)

ENVX2.8%

+47K(+6%)

BITB5.7%

+46K(+23%)

OVER1.2%

+5K(+1%)

COIN6.5%

+633(+1%)

GQ94.6%

+527(+3%)

BBBY/WS0.0%

+460(+1%)

UNP0.4%

+13(+1%)

Decreased

BNDX0.3%

-302,559(-97%)

VSGX0.4%

-230,251(-96%)

SRLN0.3%

-208,556(-95%)

XRPI0.1%

-161,272(-93%)

VCLT0.2%

-63,331(-95%)

TLT0.2%

-54,294(-94%)

VTV4.5%

-28,260(-44%)

XMAG0.2%

-20,133(-58%)

VB0.1%

-13,270(-94%)

VO0.2%

-12,310(-92%)

Exited

-98,070

-9,677

-1,143

-942

-3,517

-6,048

-581

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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