Hennion & Walsh Asset Management, Inc.

CIK 0001861642 · Q1 2026

13F Equity AUM

$3.0B

+2.5% QoQ

Positions

928

+2 QoQ

AUM Rank

#1,406

Top 11%

Skill Alpha (FF)

-4.7%/yr^ns

No Clear Edge

Rank #7,308 · Top 89%

vs S&P -9.8%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 11.5%Top 10: 18.1%Top 20: 25.9%

IVV3.9%

GSLC2.4%

DDWM2.0%

MQY1.7%

VTV1.6%

GSIE1.5%

ISPY1.5%

XCEM1.3%

IGEB1.2%

JSML1.1%

Others (918)81.9%

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

Sector Allocation

Financial Services52.1%

Technology11.2%

Healthcare10.9%

Industrials8.1%

Utilities3.9%

Consumer Cyclical2.9%

Consumer Defensive2.6%

Energy2.3%

Other6.1%

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

Position Sizing

Positions: 928Median: 0.04%Avg: 0.11%

0–0.5%

898(68.1%)

0.5–1%

19(12.8%)

1–3%

10(15.2%)

3–5%

1(3.9%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 914Unique: 14vs 20 funds

12.5%Low

928

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

17.1%

BANK OF AMERICA CORP /DE/

17.8%

BlackRock, Inc.

18.1%

JPMORGAN CHASE & CO

14.4%

STATE STREET CORP

19.2%

GEODE CAPITAL MANAGEMENT, LLC

18.2%

VANGUARD CAPITAL MANAGEMENT LLC

18.3%

FMR LLC

20.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

20.7%

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

New69Increased461Decreased385Exited67

New Positions

JSML1.1%

+470K

INDV0.3%

+331K

ITWO0.3%

+211K

AGX0.1%

+5K

VKQ0.1%

+279K

PNI0.1%

+363K

AMCOR PLC0.0%

+19K

FTNY0.0%

+96K

NYT0.0%

+11K

NVT0.0%

+7K

Increased

MQY1.7%

+3.3M(+229%)

MHD1.0%

+1.7M(+181%)

NMZ0.6%

+499K(+44%)

VGM0.3%

+479K(+96%)

LEO0.2%

+405K(+103%)

MYN0.3%

+402K(+75%)

DSM0.2%

+398K(+102%)

URE0.1%

+298K(+48%)

XCEM1.3%

+292K(+44%)

MUC0.2%

+273K(+68%)

Decreased

GSIE1.5%

-247,878(-19%)

PML0.7%

-213,868(-8%)

JSCP0.5%

-129,028(-32%)

IGEB1.2%

-107,899(-12%)

XPCQX0.2%

-100,254(-13%)

CION0.1%

-97,368(-23%)

AEG0.1%

-85,403(-21%)

IQI0.3%

-85,134(-9%)

TXM10.0%

-75,040(-33%)

MFIC0.0%

-68,307(-43%)

Exited

SMLF

-289,911

MYI

-1,554,195

INDIVIOR PLC

-317,600

-823,645

-609,603

-404,313

-508,653

-336,152

-311,324

-334,906

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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