SECURIAN ASSET MANAGEMENT, INC

CIK 0001035350 · Q1 2026

13F Equity AUM

$2.5B

-4.2% QoQ

Positions

925

-2 QoQ

AUM Rank

#1,572

Top 13%

Skill Alpha (FF)

-0.3%/yr^ns

No Clear Edge

Rank #2,700 · Top 33%

vs S&P -3.7%/yr (unadj.)

Quarters Tracked

~14 years

Portfolio Concentration

Top 5: 23.2%Top 10: 36.0%Top 20: 48.7%

VOO5.7%

IVV5.2%

NVDA4.5%

AAPL4.0%

HDV3.8%

USMV3.1%

MSFT3.0%

EFAV2.5%

AMZN2.2%

SPLV2.0%

Others (915)64.0%

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

Sector Allocation

Financial Services39.1%

Technology21.3%

Industrials7.1%

Consumer Cyclical6.9%

Healthcare6.5%

Communication Services6.4%

Consumer Defensive3.2%

Energy3.0%

Other6.5%

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

Position Sizing

Positions: 925Median: 0.03%Avg: 0.11%

0–0.5%

896(45.2%)

0.5–1%

13(9.6%)

1–3%

10(18.9%)

3–5%

4(15.5%)

5%+

2(10.8%)

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

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Portfolio Overlap

Shared: 925Unique: 0vs 20 funds

12.7%Low

925

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

17.6%

BANK OF AMERICA CORP /DE/

19.6%

JPMORGAN CHASE & CO

19.1%

BlackRock, Inc.

23.2%

STATE STREET CORP

26.6%

VANGUARD CAPITAL MANAGEMENT LLC

26.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

31.9%

GEODE CAPITAL MANAGEMENT, LLC

26.1%

FMR LLC

30.6%

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

New14Increased238Decreased318Exited17

New Positions

VRT0.1%

+10K

AEIS0.0%

+3K

SOLS0.0%

+12K

Q0.0%

+6K

TTMI0.0%

+8K

ARWR0.0%

+10K

SITM0.0%

+2K

MOG/A0.0%

+2K

IDI0.0%

+2K

CTRE0.0%

+16K

Increased

HBAN0.0%

+12K(+29%)

RYN0.0%

+10K(+89%)

IAGG0.3%

+7K(+4%)

FITB0.0%

+6K(+36%)

INTC0.2%

+5K(+4%)

PR0.1%

+4K(+8%)

SF0.0%

+4K(+51%)

TEX0.0%

+4K(+76%)

PANW0.1%

+3K(+18%)

NLY0.0%

+3K(+6%)

Decreased

EFAV2.5%

-97,000(-12%)

HDV3.8%

-41,000(-5%)

EEMV0.6%

-38,000(-15%)

IVV5.2%

-35,500(-15%)

USMV3.1%

-33,000(-4%)

EWG0.4%

-31,000(-10%)

CIEN0.1%

-6,442(-63%)

COHR0.1%

-6,359(-56%)

SATS0.0%

-6,150(-63%)

USHY0.2%

-4,800(-4%)

Exited

-9,309

-18,244

-62,768

-10,116

-5,585

-13,575

-3,789

PCH

-5,125

CIVI

-5,595

PAYC

-1,253

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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