Baer Investment Advisory LLC

CIK 0002057153 · Q1 2026

13F Equity AUM

$854.6M

+713.5% QoQ

Positions

370

+344 QoQ

AUM Rank

#3,115

Top 25%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 29.6%Top 10: 42.0%Top 20: 53.9%

IWY13.5%

SCHD5.5%

IMCG4.0%

FDVV3.5%

VOO3.1%

IVLU2.9%

XLK2.8%

PYLD2.5%

IJR2.3%

EVTR1.9%

Others (360)58.0%

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

Sector Allocation

Financial Services75.6%

Technology6.6%

Industrials3.5%

Consumer Cyclical2.8%

Communication Services2.6%

Unclassified2.2%

Healthcare2.1%

Other4.7%

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

Position Sizing

Positions: 370Median: 0.08%Avg: 0.27%

0–0.5%

334(36.9%)

0.5–1%

19(11.4%)

1–3%

12(22.1%)

3–5%

3(10.6%)

5%+

2(18.9%)

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

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Portfolio Overlap

Shared: 347Unique: 23vs 20 funds

4.7%Low

370

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)

JPMORGAN CHASE & CO

6.7%

BANK OF AMERICA CORP /DE/

6.8%

9.6%

6.6%

5.9%

VANGUARD CAPITAL MANAGEMENT LLC

5.1%

GEODE CAPITAL MANAGEMENT, LLC

4.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

5.8%

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

New344Increased10Decreased13Exited2

New Positions

IWY13.5%

+463K

SCHD5.5%

+1.5M

IMCG4.0%

+432K

FDVV3.5%

+549K

VOO3.1%

+45K

IVLU2.9%

+626K

XLK2.8%

+180K

PYLD2.5%

+809K

IJR2.3%

+156K

EVTR1.9%

+328K

Increased

NFLX0.4%

+13K(+54%)

RACE0.5%

+8K(+156%)

SHOP0.2%

+7K(+65%)

TSM0.3%

+6K(+833%)

IBM0.3%

+5K(+63%)

CDNS0.2%

+2K(+47%)

NDQ0.1%

+633(+90%)

NVDA0.4%

+605(+3%)

TMO0.2%

+24(+1%)

ECL0.5%

+18(+0%)

Decreased

APH0.4%

-20,513(-42%)

EPD0.3%

-7,683(-10%)

ADI0.5%

-5,755(-31%)

INTU0.3%

-2,457(-34%)

EME0.6%

-1,997(-24%)

MSFT0.2%

-670(-16%)

AMZN0.6%

-401(-2%)

TXN0.4%

-377(-2%)

VEEV0.3%

-193(-1%)

URI0.3%

-111(-3%)

Exited

SHOPCN 0.125 11/01/2

-325

CSGP

-1,454

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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