LFA - Lugano Financial Advisors SA

CIK 0001737871 · Q1 2026

13F Equity AUM

$196.6M

+1.5% QoQ

Positions

223

-12 QoQ

AUM Rank

#7,477

Top 60%

Skill Alpha (FF)

-2.5%/yr^ns

No Clear Edge

Rank #5,780 · Top 70%

vs S&P -10.2%/yr (unadj.)

Quarters Tracked

~7 years

Portfolio Concentration

Top 5: 44.4%Top 10: 56.1%Top 20: 72.7%

SPY14.1%

ESGD11.2%

GQ96.9%

FNDE6.5%

SUSB5.8%

IGIB2.6%

VWOB2.5%

VCSH2.3%

FEZ2.3%

IBND2.0%

Others (213)43.9%

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

Sector Allocation

Financial Services92.5%

Technology2.6%

Other4.9%

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

Position Sizing

Positions: 223Median: 0.05%Avg: 0.45%

0–0.5%

189(14.1%)

0.5–1%

8(6.2%)

1–3%

21(35.3%)

3–5%

0(0.0%)

5%+

5(44.4%)

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

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Portfolio Overlap

Shared: 220Unique: 3vs 20 funds

3%Low

223

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/

4.5%

4.2%

4.4%

5.9%

3.7%

VANGUARD CAPITAL MANAGEMENT LLC

3.2%

GEODE CAPITAL MANAGEMENT, LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

3.6%

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

New3Increased41Decreased23Exited16

New Positions

SUNBELT RENTALS HOLD…0.0%

+712

XLE0.0%

+360

KOID0.0%

+273

Increased

FNDE6.5%

+121K(+57%)

FEZ2.3%

+32K(+82%)

SJNK1.9%

+29K(+24%)

VSGX1.6%

+21K(+87%)

ESGE0.5%

+14K(+159%)

VCSH2.3%

+7K(+15%)

IGIB2.6%

+7K(+8%)

IBDV1.0%

+7K(+8%)

KGRN0.1%

+5K(+98%)

FPEI0.3%

+4K(+18%)

Decreased

SDVY0.0%

-105,408(-99%)

SGOV0.9%

-17,938(-51%)

FTLS1.9%

-7,223(-12%)

SCHP0.0%

-2,516(-47%)

QAI1.7%

-1,164(-1%)

VWOB2.5%

-976(-1%)

GOOG0.4%

-850(-25%)

BLV0.0%

-818(-67%)

AAPL0.5%

-700(-15%)

PFF0.1%

-547(-14%)

Exited

-1,555

-1,900

-2,056

-3,270

-2,300

-835

-45

-300

-33

-550

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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