Element Squared LLC

CIK 0002086643 · Q1 2026

13F Equity AUM

$177.3M

-3.8% QoQ

Positions

-7 QoQ

AUM Rank

#7,885

Top 63%

Skill Alpha (FF)

—

Building track record (2q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 54.4%Top 10: 63.8%Top 20: 76.5%

NMAR21.9%

RSP10.5%

SPY9.1%

NDQ7.2%

NVDA5.7%

NOCT3.9%

UTH1.4%

PBR1.4%

AMX1.3%

EVR1.3%

Others (32)36.2%

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

Sector Allocation

Financial Services41.4%

Fund23.9%

Technology17.0%

Healthcare5.2%

Communication Services3.7%

Energy2.7%

Basic Materials2.5%

Other3.7%

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

Position Sizing

Positions: 42Median: 1.25%Avg: 2.38%

0–0.5%

2(0.3%)

0.5–1%

2(1.6%)

1–3%

32(39.9%)

3–5%

1(3.9%)

5%+

5(54.4%)

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

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Portfolio Overlap

Shared: 36Unique: 6vs 20 funds

0.5%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)

JPMORGAN CHASE & CO

0.7%

FMR LLC

1.2%

MORGAN STANLEY

0.7%

BANK OF AMERICA CORP /DE/

0.7%

BlackRock, Inc.

0.9%

VANGUARD CAPITAL MANAGEMENT LLC

0.8%

STATE STREET CORP

0.8%

GEODE CAPITAL MANAGEMENT, LLC

0.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.9%

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

New22Increased5Decreased13Exited30

New Positions

NMAR21.9%

+1.3M

PBR1.4%

+120K

AMX1.3%

+93K

EVR1.3%

+8K

REGN1.3%

+3K

EXPE1.3%

+10K

INCY1.3%

+24K

TEL1.3%

+11K

CLS1.3%

+8K

AXP1.3%

+7K

Increased

RSP10.5%

+22K(+29%)

SHOP1.2%

+12K(+166%)

NDQ7.2%

+11K(+99%)

SPY9.1%

+2K(+10%)

VUG1.2%

+92(+2%)

Decreased

NOCT3.9%

-512,673(-81%)

NNOV1.3%

-266,036(-76%)

PJAN1.0%

-30,732(-45%)

NVDA5.7%

-13,304(-19%)

NJAN0.1%

-6,037(-59%)

APH1.2%

-4,555(-21%)

AAPL1.3%

-4,124(-31%)

TSM1.2%

-1,647(-20%)

AMD1.3%

-1,572(-12%)

UTH1.4%

-787(-16%)

Exited

GOOGL

-8,833

-3,116

-7,726

-3,969

-15,051

-11,518

-48,420

-28,452

-33,664

-10,479

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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