ROVIN CAPITAL /UT/ /ADV

CIK 0001059057 · Q4 2025

13F Equity AUM

$376.6B

+2.7% QoQ

Positions

194

-6 QoQ

AUM Rank

#57

Top 0.5%

Skill Alpha (FF)

-2.7%/yr

Underperformer

Rank #6,000 · Top 73%

vs S&P -7.6%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 25.3%Top 10: 38.0%Top 20: 53.5%

IEMG6.4%

BUFR5.8%

SCHG5.8%

QQQM3.7%

TRL3.6%

VIG3.6%

XLK2.7%

AAPL2.4%

BSJR2.0%

IEFA2.0%

Others (184)62.0%

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

Sector Allocation

Financial Services78.6%

Technology7.0%

Healthcare6.3%

Other8.1%

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

Position Sizing

Positions: 194Median: 0.18%Avg: 0.52%

0–0.5%

147(25.2%)

0.5–1%

23(17.1%)

1–3%

18(28.7%)

3–5%

3(10.9%)

5%+

3(18.0%)

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

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Portfolio Overlap

Shared: 175Unique: 19vs 20 funds

2.4%Low

194

Fund positions

7,201

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 8 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

3.2%

BANK OF AMERICA CORP /DE/

3.5%

3.3%

4.8%

3.3%

3.1%

3.1%

GEODE CAPITAL MANAGEMENT, LLC

2.7%

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

New14Increased111Decreased57Exited20

New Positions

MFSB0.3%

+45K

AKRE0.2%

+13K

WDAY0.1%

+2K

CLX0.1%

+3K

CAIE0.1%

+13K

AMD0.1%

+1K

BF/B0.1%

+12K

JKHY0.1%

+2K

GOCT0.1%

+6K

GEV0.1%

+384

Increased

BSJS1.8%

+94K(+43%)

TLT1.7%

+72K(+3075%)

SCHG5.8%

+54K(+9%)

IEMG6.4%

+52K(+17%)

XLK2.7%

+36K(+102%)

VGSH1.1%

+35K(+109%)

BSJR2.0%

+28K(+9%)

KVUE0.1%

+19K(+161%)

IUSV1.2%

+15K(+50%)

LTL0.1%

+12K(+313%)

Decreased

JNK0.7%

-57,355(-69%)

IJT0.2%

-37,529(-88%)

BSJQ1.3%

-31,874(-13%)

IJS0.5%

-31,078(-65%)

PFE0.1%

-14,284(-56%)

LQD1.0%

-8,397(-20%)

SCHX0.9%

-5,891(-5%)

SMOT0.1%

-5,206(-38%)

IEFA2.0%

-3,725(-4%)

IFF0.1%

-2,975(-47%)

Exited

-89,885

-103,770

-10,291

-1,548

-1,329

-1,160

-1,259

-5,501

-5,192

-3,525

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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