NOVEM GROUP

CIK 0001926783 · Q1 2026

13F Equity AUM

$873.1M

+0.4% QoQ

Positions

424

+18 QoQ

AUM Rank

#3,064

Top 25%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 15.0%Top 10: 25.6%Top 20: 40.8%

SCHG3.9%

MINT3.2%

SPYM2.8%

FFLC2.7%

BOND2.5%

VYM2.3%

SPYV2.2%

SCHO2.2%

FALN2.0%

VTV1.9%

Others (414)74.4%

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

Sector Allocation

Financial Services72.8%

Technology8.2%

Industrials4.4%

Healthcare3.7%

Consumer Defensive2.6%

Energy2.6%

Other5.5%

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

Position Sizing

Positions: 424Median: 0.09%Avg: 0.24%

0–0.5%

381(42.5%)

0.5–1%

21(14.4%)

1–3%

20(36.0%)

3–5%

2(7.1%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 398Unique: 26vs 20 funds

5.4%Low

424

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

7.4%

BANK OF AMERICA CORP /DE/

7.9%

7.4%

10.3%

7.2%

6.3%

VANGUARD CAPITAL MANAGEMENT LLC

5.7%

GEODE CAPITAL MANAGEMENT, LLC

5.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

6.4%

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

New49Increased235Decreased114Exited31

New Positions

VGSH1.3%

+190K

FFSM0.8%

+206K

XAR0.3%

+9K

MTUM0.2%

+6K

BAI0.1%

+40K

MUB0.1%

+9K

FTGS0.1%

+26K

DGED0.1%

+10K

FIS0.1%

+16K

FHDG0.1%

+21K

Increased

MINT3.2%

+163K(+143%)

VYM2.3%

+125K(+1055%)

IBDS1.4%

+110K(+27%)

IBDU1.5%

+81K(+17%)

SPYV2.2%

+70K(+26%)

DYNF0.4%

+57K(+1088%)

FNDX0.7%

+54K(+32%)

BUFR0.4%

+53K(+107%)

IBDT1.4%

+50K(+11%)

SCHO2.2%

+33K(+4%)

Decreased

PYLD0.8%

-725,893(-72%)

IBDV0.1%

-390,975(-92%)

FSMD0.3%

-144,714(-71%)

VIG1.4%

-79,962(-58%)

USFR0.4%

-35,755(-36%)

JQUA0.3%

-31,058(-40%)

SPYM2.8%

-19,819(-6%)

JPEF1.3%

-19,078(-11%)

DIVI0.1%

-16,785(-33%)

CXM0.0%

-13,930(-48%)

Exited

-96,343

-59,161

-10,040

-150,916

-6,653

-77,200

-13,849

-9,146

FAPR

-10,911

IFF

-7,126

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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