TOCQUEVILLE ASSET MANAGEMENT L.P.

CIK 0000883961 · Q1 2026

13F Equity AUM

$6.7B

-1.6% QoQ

Positions

540

-33 QoQ

AUM Rank

#830

Top 7%

Skill Alpha (FF)

-0.9%/yr^ns

No Clear Edge

Rank #3,604 · Top 44%

vs S&P -3.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 14.6%Top 10: 24.3%Top 20: 35.9%

HD4.1%

NVDA3.0%

MSFT2.6%

GOOGL2.5%

GOOG2.4%

AAPL2.2%

IAU*2.1%

AMZN2.0%

AMAT1.7%

NEE1.6%

Others (530)75.7%

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

Sector Allocation

Technology18.8%

Financial Services15.9%

Industrials12.0%

Healthcare10.6%

Consumer Cyclical10.2%

Communication Services7.5%

Basic Materials6.5%

Energy6.2%

Other12.3%

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

Position Sizing

Positions: 540Median: 0.04%Avg: 0.19%

0–0.5%

485(40.3%)

0.5–1%

34(22.7%)

1–3%

19(29.8%)

3–5%

2(7.2%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 535Unique: 5vs 20 funds

7.3%Low

540

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

10%

BANK OF AMERICA CORP /DE/

10.8%

10.4%

12.3%

16%

12.3%

VANGUARD CAPITAL MANAGEMENT LLC

11.9%

GEODE CAPITAL MANAGEMENT, LLC

11.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

13.3%

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

New24Increased161Decreased279Exited57

New Positions

GEME0.1%

+150K

AMCOR PLC0.1%

+106K

WAT0.0%

+6K

NABL0.0%

+290K

TTGT0.0%

+420K

WSO0.0%

+3K

RARE0.0%

+24K

XYL0.0%

+7K

PBYI0.0%

+13K

SNDK0.0%

+451

Increased

BAX0.3%

+984K(+257%)

GPC1.2%

+492K(+174%)

SBUX0.6%

+345K(+280%)

EXE0.6%

+318K(+559%)

DIS0.7%

+314K(+193%)

SLB0.3%

+314K(+645%)

NFLX0.4%

+259K(+938%)

CNHI0.1%

+255K(+254%)

CCC0.0%

+240K(+2400%)

BSX0.6%

+234K(+53%)

Decreased

KLTR0.0%

-538,395(-49%)

USB0.2%

-263,519(-47%)

OXY0.0%

-255,950(-91%)

FCX0.9%

-240,510(-18%)

YEXT0.0%

-220,000(-54%)

XLC0.0%

-182,850(-99%)

SDGR0.0%

-132,400(-84%)

ABM0.0%

-120,000(-82%)

IAU*2.1%

-118,414(-7%)

KVUE0.4%

-112,791(-7%)

Exited

-233,834

-20,885

-14,660

-75,400

-14,219

-326,365

-7,685

-65,815

-125,698

-5,147

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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