Independent Wealth Network Inc.

CIK 0001891240 · Q1 2026

13F Equity AUM

$336.7M

+2.8% QoQ

Positions

296

+9 QoQ

AUM Rank

#5,510

Top 44%

Skill Alpha (FF)

-1.6%/yr^ns

No Clear Edge

Rank #4,664 · Top 57%

vs S&P -6.5%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 18.8%Top 10: 27.0%Top 20: 38.4%

CAT5.5%

SPYM4.5%

JPST3.8%

SPYG2.9%

SLV2.1%

RDFI1.8%

CHV1.8%

DFUS1.5%

NDQ1.5%

SPYV1.5%

Others (286)73.0%

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

Sector Allocation

Financial Services73.2%

Technology6.9%

Industrials6.8%

Energy3.3%

Consumer Cyclical2.6%

Consumer Defensive2.1%

Other5.2%

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

Position Sizing

Positions: 296Median: 0.17%Avg: 0.34%

0–0.5%

251(44.8%)

0.5–1%

30(21.6%)

1–3%

12(19.8%)

3–5%

2(8.3%)

5%+

1(5.5%)

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

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Portfolio Overlap

Shared: 274Unique: 22vs 20 funds

3.7%Low

296

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

5.1%

BANK OF AMERICA CORP /DE/

5.6%

6.8%

4.3%

3.7%

VANGUARD CAPITAL MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

2.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.3%

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

New57Increased139Decreased95Exited48

New Positions

QTEC1.0%

+15K

LMBS0.7%

+46K

BBAG0.5%

+39K

SCIO0.5%

+76K

BBIN0.4%

+20K

STOT0.4%

+26K

CGDV0.3%

+27K

XNTK0.3%

+3K

BBCB0.3%

+20K

PSCI0.3%

+5K

Increased

JPST3.8%

+52K(+26%)

RDFI1.8%

+51K(+24%)

SPYM4.5%

+47K(+31%)

LAC0.2%

+28K(+18%)

SPDW0.4%

+27K(+553%)

SPHY0.2%

+19K(+202%)

XLE0.8%

+18K(+65%)

SPMD0.4%

+16K(+215%)

SEIM0.3%

+15K(+316%)

JEPI1.0%

+15K(+36%)

Decreased

ILTB0.7%

-77,250(-62%)

SPAB0.9%

-76,568(-40%)

SPYV1.5%

-61,298(-40%)

ZDEK0.2%

-41,354(-65%)

USRT0.3%

-35,248(-70%)

FPE0.5%

-35,071(-29%)

SPYD0.9%

-30,939(-32%)

FSCO0.0%

-27,056(-53%)

SPYG2.9%

-25,440(-20%)

ACWI0.9%

-22,739(-51%)

Exited

-15,514

-78,747

-34,840

-13,647

-6,559

-6,309

-4,908

-13,561

-4,554

-25,573

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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