Horst & Graben Wealth Management LLC

CIK 0001818207 · Q1 2026

13F Equity AUM

$729.0M

+10.0% QoQ

Positions

195

+16 QoQ

AUM Rank

#3,422

Top 28%

Skill Alpha (FF)

-3.5%/yr^ns

No Clear Edge

Rank #6,696 · Top 81%

vs S&P -10.6%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 25.6%Top 10: 42.0%Top 20: 64.0%

SPYM6.2%

DYNF5.5%

IVW4.7%

IVE4.7%

SCHZ4.5%

IUSB3.6%

CORO3.5%

QUAL3.3%

MBB3.1%

GOVT2.9%

Others (185)58.0%

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

Sector Allocation

Financial Services83.6%

Technology4.9%

Fund3.5%

Other7.9%

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

Position Sizing

Positions: 195Median: 0.11%Avg: 0.51%

0–0.5%

157(18.5%)

0.5–1%

11(6.9%)

1–3%

18(35.5%)

3–5%

7(27.4%)

5%+

2(11.7%)

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

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Portfolio Overlap

Shared: 195Unique: 0vs 20 funds

2.7%Low

195

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)

JPMORGAN CHASE & CO

MORGAN STANLEY

3.6%

BANK OF AMERICA CORP /DE/

FMR LLC

5.7%

BlackRock, Inc.

STATE STREET CORP

2.9%

VANGUARD CAPITAL MANAGEMENT LLC

2.7%

GEODE CAPITAL MANAGEMENT, LLC

2.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.1%

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

New21Increased105Decreased52Exited5

New Positions

CORO3.5%

+743K

ACWX2.3%

+229K

BLCR1.7%

+264K

DMXF0.2%

+16K

MRVL0.1%

+4K

BWA0.1%

+9K

INTC0.1%

+6K

MP0.1%

+6K

IDEF0.0%

+8K

WDC0.0%

+783

Increased

GOVT2.9%

+816K(+891%)

SPYM6.2%

+111K(+26%)

SHLD1.4%

+66K(+75%)

BNDX0.4%

+38K(+134%)

AVEM1.9%

+32K(+26%)

SCHZ4.5%

+32K(+2%)

BAI2.8%

+27K(+6%)

XTEN2.8%

+22K(+5%)

IAGG1.4%

+21K(+11%)

THRO2.2%

+19K(+5%)

Decreased

IEMG0.6%

-267,816(-82%)

EFV2.3%

-126,335(-37%)

BINC1.7%

-100,679(-30%)

DYNF5.5%

-93,004(-13%)

GLDM0.5%

-76,129(-66%)

EMB0.1%

-51,931(-88%)

SIVR0.0%

-17,783(-83%)

IAU*0.5%

-14,626(-26%)

OEF0.6%

-12,297(-50%)

FGDL0.0%

-8,657(-64%)

Exited

-421,968

-1,310

-854

-2,276

-5,065

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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