TRAPHAGEN INVESTMENT ADVISORS LLC

CIK 0002023380 · Q1 2026

13F Equity AUM

$1.2B

+1.6% QoQ

Positions

207

+11 QoQ

AUM Rank

#2,464

Top 20%

Skill Alpha (FF)

-1.4%/yr^ns

No Clear Edge

Rank #4,382 · Top 53%

vs S&P -6.3%/yr (unadj.)

Quarters Tracked

~7 years

Portfolio Concentration

Top 5: 49.6%Top 10: 64.3%Top 20: 80.3%

IVV25.2%

AVUS9.5%

VFLO7.0%

JSI4.2%

GRID3.7%

JAAA3.5%

TPYP3.0%

AAPL2.9%

GFLW2.8%

COWG2.4%

Others (197)35.7%

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

Sector Allocation

Financial Services83.8%

Technology4.8%

Fund4.5%

Other6.9%

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

Position Sizing

Positions: 207Median: 0.05%Avg: 0.48%

0–0.5%

180(14.6%)

0.5–1%

7(5.1%)

1–3%

14(27.2%)

3–5%

3(11.4%)

5%+

3(41.7%)

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

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Portfolio Overlap

Shared: 203Unique: 4vs 20 funds

2.8%Low

207

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

3.8%

BANK OF AMERICA CORP /DE/

4.1%

3.8%

5.9%

4.1%

3.5%

VANGUARD CAPITAL MANAGEMENT LLC

3.4%

GEODE CAPITAL MANAGEMENT, LLC

3.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.8%

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

New19Increased94Decreased81Exited8

New Positions

FENI2.1%

+697K

TXXI0.1%

+26K

UBS0.0%

+10K

GLW0.0%

+2K

BMY0.0%

+3K

UPS0.0%

+2K

BK0.0%

+2K

HYMC0.0%

+6K

CFG0.0%

+3K

VLO0.0%

+1K

Increased

GFLW2.8%

+1.2M(+1184%)

FUTY1.9%

+329K(+480%)

ALAI0.8%

+307K(+2591%)

SCHD0.6%

+168K(+272%)

TPYP3.0%

+128K(+17%)

JSI4.2%

+127K(+14%)

GPZ1.8%

+115K(+13%)

JAAA3.5%

+110K(+15%)

BITB0.9%

+47K(+18%)

IBIT0.3%

+28K(+48%)

Decreased

COWG2.4%

-964,885(-52%)

VFLO7.0%

-210,219(-9%)

AVUS9.5%

-199,706(-16%)

GRID3.7%

-76,365(-21%)

SHY1.0%

-10,872(-7%)

VGIT2.1%

-9,256(-2%)

SGOV2.1%

-7,871(-3%)

COWZ0.3%

-4,538(-8%)

MUB0.4%

-3,925(-8%)

FHLC0.0%

-2,873(-29%)

Exited

-580

-1,039

-2,130

-5,446

-509

-6,686

-11,115

-13,000

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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