Williams & Novak, LLC

CIK 0001998419 · Q1 2026

13F Equity AUM

$133.6M

+0.6% QoQ

Positions

142

+1 QoQ

AUM Rank

#8,974

Top 72%

Skill Alpha (FF)

-0.8%/yr^ns

No Clear Edge

Rank #3,414 · Top 42%

vs S&P -7.9%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 28.4%Top 10: 40.5%Top 20: 57.0%

FBND8.1%

MFUS6.4%

FELC4.8%

SYPR4.7%

PYLD4.4%

MFEM3.2%

XPCQX2.6%

AAPL2.2%

PML2.1%

MFDX2.0%

Others (132)59.5%

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

Sector Allocation

Financial Services78.8%

Technology9.2%

Consumer Cyclical5.9%

Other6.1%

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

Position Sizing

Positions: 142Median: 0.31%Avg: 0.70%

0–0.5%

87(16.1%)

0.5–1%

29(19.8%)

1–3%

20(32.6%)

3–5%

4(17.1%)

5%+

2(14.5%)

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

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Portfolio Overlap

Shared: 129Unique: 13vs 20 funds

1.8%Low

142

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

2.1%

BANK OF AMERICA CORP /DE/

2.2%

JPMORGAN CHASE & CO

2.1%

BlackRock, Inc.

2.1%

FMR LLC

2.8%

GEODE CAPITAL MANAGEMENT, LLC

1.6%

STATE STREET CORP

1.6%

VANGUARD CAPITAL MANAGEMENT LLC

1.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.5%

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

New22Increased48Decreased53Exited21

New Positions

CRM1.7%

+22K

OMFL0.6%

+13K

BILZ0.5%

+7K

DIVO0.3%

+9K

BHP0.3%

+5K

BP0.2%

+6K

PRF0.2%

+6K

JNJ0.2%

+1K

PMBS0.2%

+5K

MINO0.2%

+5K

Increased

PYLD4.4%

+64K(+40%)

XEJ0.1%

+63K(+53%)

PML2.1%

+32K(+9%)

EXFY0.0%

+29K(+84%)

MFEM3.2%

+25K(+17%)

FELC4.8%

+20K(+13%)

CGBL0.8%

+15K(+97%)

TRIB0.1%

+14K(+15%)

DFAI0.7%

+14K(+130%)

MUNI1.3%

+12K(+56%)

Decreased

ZZF0.0%

-155,675(-83%)

SYPR4.7%

-89,005(-4%)

FBND8.1%

-64,324(-21%)

EGHT0.0%

-29,162(-50%)

SLV2.0%

-26,455(-40%)

XPCQX2.6%

-14,772(-4%)

RCO0.1%

-12,905(-25%)

KLXE0.0%

-11,363(-49%)

DFCF1.1%

-9,654(-22%)

AVNS0.3%

-7,964(-23%)

Exited

ABT

-5,320

-1,377

-5,947

-1,058

-2,770

-549

-348,800

-1,195

-4,875

-5,526

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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