TB Alternative Assets Ltd.

CIK 0001483503 · Q1 2026

13F Equity AUM

$481.1M

-21.2% QoQ

Positions

-14 QoQ

AUM Rank

#4,407

Top 35%

Skill Alpha (FF)

+5.7%/yr^ns

No Clear Edge

Rank #569 · Top 7%

vs S&P -11.3%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 46.2%Top 10: 67.9%Top 20: 91.7%

META16.1%

UGL8.9%

PDD7.2%

FIGR7.0%

OXY7.0%

GOOG5.0%

6RJ04.8%

AEM4.2%

LEU4.0%

SQQQ3.7%

Others (26)32.1%

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

Sector Allocation

Financial Services23.9%

Communication Services22.6%

Energy18.1%

Consumer Cyclical11.2%

Technology8.2%

Basic Materials5.8%

Consumer Discretionary4.8%

Healthcare4.4%

Other0.9%

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

Position Sizing

Positions: 36Median: 1.81%Avg: 2.78%

0–0.5%

9(2.2%)

0.5–1%

4(2.7%)

1–3%

11(20.7%)

3–5%

7(28.1%)

5%+

5(46.2%)

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

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Portfolio Overlap

Shared: 31Unique: 5vs 20 funds

0.4%Low

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

0.6%

BlackRock, Inc.

0.7%

JPMORGAN CHASE & CO

0.6%

BANK OF AMERICA CORP /DE/

0.6%

FMR LLC

0.9%

GEODE CAPITAL MANAGEMENT, LLC

0.7%

VANGUARD CAPITAL MANAGEMENT LLC

0.7%

STATE STREET CORP

0.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.7%

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

New16Increased6Decreased7Exited30

New Positions

UGL8.9%

+698K

OXY7.0%

+515K

LMND3.1%

+236K

XOM2.8%

+80K

UNH2.6%

+47K

NOK2.4%

+1.4M

LNG1.9%

+32K

EQT1.0%

+77K

ET1.0%

+251K

AGQ0.7%

+28K

Increased

PSKY1.4%

+369K(+95%)

FIGR7.0%

+316K(+46%)

6RJ04.8%

+281K(+359%)

CLV3.4%

+236K(+261%)

LEU4.0%

+19K(+21%)

TSM1.9%

+17K(+181%)

Decreased

INTC2.6%

-952,421(-77%)

SQQQ3.7%

-232,263(-51%)

GOOG5.0%

-229,131(-73%)

AEM4.2%

-129,557(-56%)

MP1.3%

-50,510(-28%)

META16.1%

-38,186(-22%)

CEG0.7%

-14,734(-54%)

Exited

-366,272

-132,801

-138,614

-72,024

-266,165

-45,768

-16,120

-400,810

-8,508

-65,846

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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