STUDIO INVESTMENT MANAGEMENT LLC

CIK 0001893893 · Q1 2026

13F Equity AUM

$556.5M

+1.7% QoQ

Positions

185

+7 QoQ

AUM Rank

#4,052

Top 33%

Skill Alpha (FF)

-3.0%/yr^ns

No Clear Edge

Rank #6,290 · Top 77%

vs S&P -6.8%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 34.8%Top 10: 48.4%Top 20: 62.0%

VTIP16.6%

VIG5.5%

VTV5.5%

DFIC3.7%

FNDF3.4%

VBR3.1%

VGSH2.8%

DFSD2.8%

GOOGL2.5%

BRK/B2.5%

Others (175)51.6%

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

Sector Allocation

Financial Services67.7%

Industrials8.5%

Technology6.5%

Healthcare4.6%

Communication Services3.6%

Consumer Defensive3.0%

Utilities2.1%

Other4.0%

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

Position Sizing

Positions: 185Median: 0.15%Avg: 0.54%

0–0.5%

144(20.6%)

0.5–1%

16(11.9%)

1–3%

19(29.6%)

3–5%

3(10.2%)

5%+

3(27.6%)

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

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Portfolio Overlap

Shared: 175Unique: 10vs 20 funds

2.4%Low

185

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)

BANK OF AMERICA CORP /DE/

3.7%

3.2%

3.5%

5.2%

3.5%

3.6%

VANGUARD CAPITAL MANAGEMENT LLC

3.6%

GEODE CAPITAL MANAGEMENT, LLC

3.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

4.1%

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

New8Increased73Decreased96Exited0

New Positions

SPYI0.2%

+27K

LNC0.1%

+22K

Bank Of New York Mel…0.1%

+5K

WAT0.1%

+855

INTC0.0%

+5K

CB1A0.0%

+1K

AWN0.0%

+5K

DFSV0.0%

+6K

Increased

JEPI0.5%

+33K(+178%)

VTIP16.6%

+31K(+2%)

CGCP1.0%

+22K(+10%)

DFSD2.8%

+14K(+5%)

VGSH2.8%

+6K(+2%)

DUSB0.4%

+5K(+12%)

DFLV1.1%

+5K(+3%)

PYLD0.1%

+4K(+27%)

DFAT1.0%

+3K(+3%)

SF0.1%

+3K(+49%)

Decreased

DFIC3.7%

-5,855(-1%)

CHRW0.1%

-5,756(-62%)

FNDF3.4%

-4,879(-1%)

GUNR0.3%

-2,381(-9%)

DFEM1.4%

-2,117(-1%)

CTVA0.5%

-2,047(-6%)

VTV5.5%

-1,730(-1%)

VT1.0%

-1,380(-3%)

VBR3.1%

-1,290(-2%)

SCHR0.2%

-1,218(-3%)

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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