Duncan Williams Asset Management, LLC

CIK 0002011771 · Q1 2026

13F Equity AUM

$360.7M

-10.4% QoQ

Positions

154

-16 QoQ

AUM Rank

#5,284

Top 42%

Skill Alpha (FF)

—

Building track record (7q)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 42.7%Top 10: 56.5%Top 20: 71.4%

DGRW12.4%

VUG12.0%

IUSV7.7%

AVNM6.6%

AAPL4.1%

VEA3.3%

GSSC3.1%

VOO2.7%

VTV2.5%

SCHD2.1%

Others (144)43.5%

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

Sector Allocation

Financial Services76.4%

Technology9.0%

Consumer Cyclical3.3%

Healthcare3.3%

Industrials2.2%

Other5.8%

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

Position Sizing

Positions: 154Median: 0.19%Avg: 0.65%

0–0.5%

124(21.0%)

0.5–1%

9(6.6%)

1–3%

14(23.3%)

3–5%

3(10.5%)

5%+

4(38.6%)

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

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Portfolio Overlap

Shared: 151Unique: 3vs 20 funds

2.1%Low

154

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

2.8%

BANK OF AMERICA CORP /DE/

3.1%

2.8%

4.4%

3.1%

GEODE CAPITAL MANAGEMENT, LLC

2.8%

VANGUARD CAPITAL MANAGEMENT LLC

2.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.2%

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

New6Increased28Decreased90Exited22

New Positions

KLAC0.2%

+515

NOW0.2%

+6K

CB1A0.1%

+3K

CGBL0.1%

+13K

GDLC0.1%

+9K

AEP0.1%

+2K

Increased

AVNM6.6%

+34K(+12%)

CIFR0.3%

+22K(+37%)

XMHQ1.2%

+3K(+7%)

AAPL4.1%

+3K(+5%)

PDI0.3%

+2K(+4%)

VEA3.3%

+2K(+1%)

AVGO0.3%

+2K(+100%)

VYMI1.1%

+2K(+4%)

CGMU0.3%

+1K(+4%)

VWO2.0%

+1K(+1%)

Decreased

FT21.4%

-129,092(-38%)

SCHD2.1%

-39,023(-14%)

TVRD0.1%

-17,530(-22%)

DGRW12.4%

-15,460(-3%)

NDQ0.5%

-8,125(-71%)

HYZD0.1%

-7,674(-33%)

TFC0.1%

-4,768(-37%)

PFE0.1%

-4,084(-28%)

GSSC3.1%

-4,081(-3%)

VXUS0.3%

-4,046(-21%)

Exited

-5,067

-19,702

-4,338

-1,742

-29,740

-8,722

-12,590

-4,396

-3,428

-2,368

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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