Castellan Group

CIK 0001832521 · Q1 2026

13F Equity AUM

$725.7M

-8.7% QoQ

Positions

-24 QoQ

AUM Rank

#3,429

Top 28%

Skill Alpha (FF)

+5.3%/yr^ns

No Clear Edge

Rank #599 · Top 7%

vs S&P +3.3%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 87.2%Top 10: 90.6%Top 20: 96.7%

CTEF60.8%

CTIF22.1%

BOXX2.8%

CWEN0.8%

NEE0.7%

GLTR0.7%

POR0.7%

XLE0.7%

NJR0.7%

CTRE0.7%

Others (26)9.4%

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

Sector Allocation

Fund83.6%

Financial Services4.9%

Utilities4.7%

Real Estate3.1%

Energy2.4%

Other1.3%

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

Position Sizing

Positions: 36Median: 0.60%Avg: 2.78%

0–0.5%

16(3.3%)

0.5–1%

17(10.9%)

1–3%

1(2.8%)

3–5%

0(0.0%)

5%+

2(82.9%)

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

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Portfolio Overlap

Shared: 32Unique: 4vs 20 funds

0.4%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)

JPMORGAN CHASE & CO

0.6%

MORGAN STANLEY

0.6%

BANK OF AMERICA CORP /DE/

0.6%

BlackRock, Inc.

0.7%

FMR LLC

0.9%

STATE STREET CORP

0.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.8%

VANGUARD CAPITAL MANAGEMENT LLC

0.6%

GEODE CAPITAL MANAGEMENT, LLC

0.6%

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

New2Increased18Decreased11Exited26

New Positions

ORCL0.1%

+8K

INVESCO QQQ TR0.1%

+171

Increased

CTIF22.1%

+360K(+12%)

BOXX2.8%

+81K(+85%)

CTEF60.8%

+80K(+1%)

CWEN0.8%

+12K(+9%)

CTRE0.7%

+11K(+9%)

GTY0.6%

+11K(+9%)

HESM0.5%

+9K(+10%)

NJR0.7%

+8K(+11%)

POR0.7%

+8K(+10%)

TRNO0.6%

+7K(+10%)

Decreased

XLE0.7%

-64,855(-45%)

XOM0.3%

-48,111(-76%)

AMZN0.1%

-33,409(-93%)

AAPL0.0%

-23,572(-96%)

GLTR0.7%

-15,101(-40%)

MSFT0.3%

-10,919(-64%)

CHV0.3%

-9,140(-45%)

SPY0.4%

-7,309(-65%)

META0.1%

-5,065(-84%)

LRN0.1%

-540(-9%)

Exited

-37,102

-39,016

-8,130

-31,477

-19,118

USMV

-41,342

AXP

-9,237

-9,321

CAT

-5,364

IUSV

-29,740

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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