Next Level Private LLC

CIK 0001910366 · Q1 2026

13F Equity AUM

$442.7M

+16.0% QoQ

Positions

175

+14 QoQ

AUM Rank

#4,651

Top 37%

Skill Alpha (FF)

+0.8%/yr^ns

No Clear Edge

Rank #1,745 · Top 21%

vs S&P -1.1%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 29.7%Top 10: 45.0%Top 20: 61.9%

QGRO8.4%

RDVY5.6%

AIRR5.6%

AAPL5.1%

DUSA5.0%

JPM3.8%

GE3.5%

FDL2.9%

INCM2.6%

GEV2.5%

Others (165)55.0%

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

Sector Allocation

Financial Services65.7%

Technology9.8%

Industrials6.7%

Communication Services4.1%

Energy2.9%

Healthcare2.8%

Utilities2.6%

Other5.5%

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

Position Sizing

Positions: 175Median: 0.17%Avg: 0.57%

0–0.5%

131(20.3%)

0.5–1%

22(15.7%)

1–3%

15(27.1%)

3–5%

3(12.3%)

5%+

4(24.7%)

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

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Portfolio Overlap

Shared: 159Unique: 16vs 20 funds

2.2%Low

175

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

2.9%

BANK OF AMERICA CORP /DE/

3.2%

2.9%

4.3%

2.5%

GEODE CAPITAL MANAGEMENT, LLC

2.2%

VANGUARD CAPITAL MANAGEMENT LLC

2.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.7%

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

New23Increased114Decreased24Exited9

New Positions

SPMO1.4%

+57K

XAGG0.3%

+30K

IDMO0.2%

+16K

CRM0.1%

+3K

GLW0.1%

+3K

HON0.1%

+2K

IUSB0.1%

+8K

FFC00.1%

+26K

TSLA0.1%

+823

EFV0.1%

+4K

Increased

SYFI1.9%

+192K(+415%)

PGRO1.9%

+123K(+148%)

INCM2.6%

+85K(+27%)

DUSA5.0%

+62K(+17%)

QGRO8.4%

+56K(+19%)

AAPL5.1%

+52K(+141%)

BALI1.0%

+45K(+44%)

BKDV0.6%

+37K(+83%)

RDVY5.6%

+34K(+10%)

PFE0.6%

+25K(+40%)

Decreased

SA2D0.1%

-9,106(-19%)

COWZ0.4%

-7,446(-23%)

EVLN0.1%

-3,741(-29%)

JEPI0.2%

-2,897(-17%)

VOE0.2%

-1,690(-30%)

BAC0.3%

-1,458(-5%)

FDD0.8%

-1,100(-1%)

VTI0.4%

-591(-11%)

BRK/B0.6%

-224(-4%)

FDL2.9%

-176(-0%)

Exited

-66,660

-28,387

-5,092

-2,645

-1,339

-1,630

EVJ

-7,980

ORCL

-1,058

FELC

-5,397

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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