Code Waechter LLC

CIK 0002039212 · Q1 2026

13F Equity AUM

$168.3M

+8.1% QoQ

Positions

118

+10 QoQ

AUM Rank

#8,092

Top 65%

Skill Alpha (FF)

—

Building track record (5q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 36.6%Top 10: 52.3%Top 20: 67.0%

SCHG10.3%

CGDV8.3%

SGOV6.9%

VB6.5%

VIOV4.6%

VIOG4.1%

SCHR3.2%

CGNG3.0%

BALT2.8%

SCHX2.7%

Others (108)47.7%

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

Sector Allocation

Financial Services76.4%

Technology4.7%

Energy3.8%

Healthcare3.7%

Utilities2.5%

Consumer Defensive2.1%

Other6.9%

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

Position Sizing

Positions: 118Median: 0.35%Avg: 0.85%

0–0.5%

76(19.1%)

0.5–1%

23(14.9%)

1–3%

12(22.2%)

3–5%

3(11.9%)

5%+

4(32.0%)

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

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Portfolio Overlap

Shared: 114Unique: 4vs 20 funds

1.6%Low

118

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)

BANK OF AMERICA CORP /DE/

2.4%

2.2%

2.3%

3.6%

2.5%

2.4%

VANGUARD CAPITAL MANAGEMENT LLC

2.1%

GEODE CAPITAL MANAGEMENT, LLC

2.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.4%

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

New15Increased40Decreased44Exited5

New Positions

CGNG3.0%

+158K

CGGO1.3%

+65K

CME0.3%

+2K

AMCOR PLC0.3%

+11K

AMAT0.3%

+1K

PAYX0.2%

+4K

UL0.2%

+5K

MO0.1%

+4K

VO0.1%

+884

TXN0.1%

+1K

Increased

SCHG10.3%

+42K(+8%)

CGDV8.3%

+31K(+10%)

QDPL2.0%

+12K(+16%)

SCHR3.2%

+11K(+5%)

BALT2.8%

+10K(+8%)

DRSK2.0%

+6K(+5%)

SGOV6.9%

+6K(+5%)

VIOG4.1%

+5K(+10%)

VB6.5%

+4K(+11%)

VIOV4.6%

+2K(+3%)

Decreased

HBAN0.2%

-10,575(-33%)

BAC0.3%

-7,594(-41%)

SCHM2.5%

-5,321(-4%)

WMB0.6%

-3,470(-21%)

TRP0.4%

-2,903(-21%)

GSK0.3%

-1,923(-16%)

GILD0.2%

-1,716(-37%)

BMTA0.7%

-1,623(-7%)

SCHF0.7%

-1,429(-3%)

AEP0.3%

-1,245(-28%)

Exited

AMCCD

-54,113

ARE

-5,152

LVS

-3,740

-622

COF

-858

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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