1248 Management, LLC

CIK 0002011147 · Q1 2026

13F Equity AUM

$206.1M

+10.2% QoQ

Positions

146

-11 QoQ

AUM Rank

#7,281

Top 59%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 40.1%Top 10: 61.5%Top 20: 80.4%

PSBD14.5%

GOOGL7.3%

MSFT6.9%

SCHW6.7%

AMZN4.7%

IGV4.7%

JPM4.7%

HOOD4.1%

NVDA4.1%

ORCL3.9%

Others (136)38.5%

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

Sector Allocation

Financial Services42.0%

Technology32.0%

Communication Services8.3%

Consumer Cyclical7.4%

Healthcare3.6%

Industrials2.8%

Other3.9%

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

Position Sizing

Positions: 146Median: 0.11%Avg: 0.68%

0–0.5%

119(15.4%)

0.5–1%

9(5.8%)

1–3%

7(14.2%)

3–5%

7(29.3%)

5%+

4(35.4%)

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

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Portfolio Overlap

Shared: 146Unique: 0vs 20 funds

2%Low

146

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)

BlackRock, Inc.

3.6%

MORGAN STANLEY

2.7%

BANK OF AMERICA CORP /DE/

STATE STREET CORP

4.2%

JPMORGAN CHASE & CO

FMR LLC

4.9%

VANGUARD CAPITAL MANAGEMENT LLC

4.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

4.9%

GEODE CAPITAL MANAGEMENT, LLC

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

New15Increased14Decreased14Exited26

New Positions

IGV4.7%

+121K

OKTA2.7%

+71K

APO2.4%

+44K

LPLA2.0%

+14K

MPWR0.3%

+548

AZN0.3%

+3K

MTB0.3%

+3K

ADI0.3%

+2K

MAR0.3%

+2K

AMAT0.1%

+308

Increased

HOOD4.1%

+120K(+5378%)

SCHW6.7%

+53K(+56%)

MSFT6.9%

+19K(+94%)

CRWD3.1%

+16K(+2251%)

FAST0.1%

+4K(+334%)

BSX0.3%

+3K(+38%)

SYK0.3%

+2K(+298%)

AMGN0.4%

+2K(+168%)

NFLX0.1%

+1K(+203%)

DE0.3%

+895(+806%)

Decreased

TQQQ0.1%

-4,700(-64%)

AWC0.0%

-3,906(-99%)

BX0.0%

-2,925(-92%)

RME0.0%

-2,854(-96%)

PSX0.1%

-2,800(-69%)

NOW0.3%

-1,560(-23%)

ORCL3.9%

-1,494(-3%)

AVGO0.7%

-734(-14%)

PGR0.0%

-592(-74%)

PANW0.4%

-262(-5%)

Exited

-219,427

-4,600

-9,600

-6,689

-5,958

-1,195

-4,474

-3,551

-8,986

WRB

-6,009

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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