RATIONAL ADVISORS, INC.

CIK 0001143565 · Q2 2026

13F Equity AUM

$1.1B

+11.3% QoQ

Positions

195

+16 QoQ

AUM Rank

#3,237

Top 26%

Skill Alpha (FF)

-1.2%/yr^ns

No Clear Edge

Rank #4,673 · Top 56%

vs S&P -4.3%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 29.3%Top 10: 47.8%Top 20: 67.7%

AGG6.7%

BND6.7%

SCHZ6.7%

IVV4.8%

MLPX4.5%

QQQM4.2%

NTSX4.0%

XLU3.8%

VIG3.3%

VOO3.2%

Others (185)52.3%

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

Sector Allocation

Financial Services77.1%

Technology5.0%

Unclassified4.5%

Fixed Income2.8%

Consumer Cyclical2.5%

Other8.1%

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

Position Sizing

Positions: 195Median: 0.08%Avg: 0.51%

0–0.5%

153(13.9%)

0.5–1%

19(14.9%)

1–3%

13(23.4%)

3–5%

7(27.7%)

5%+

3(20.0%)

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

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Portfolio Overlap

Shared: 0Unique: 195vs 20 funds

0%Low

195

Fund positions

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.

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Position Changes This Quarter

New29Increased96Decreased58Exited13

New Positions

LQD2.3%

+225K

SPIB1.8%

+595K

USIG1.3%

+282K

IGIB1.3%

+271K

ALLIANT ENERGY CORP1.0%

+10.0M

ALPHABET INC0.8%

+173K

CLOUDFLARE INC0.6%

+5.0M

WDC0.5%

+8K

MOG/A0.4%

+11K

SCHI0.4%

+184K

Increased

GH 0 11/15/270.6%

+3.4M(+165%)

FOUR 0.5 08/01/270.5%

+2.4M(+74%)

HALO 0.25 03/01/270.5%

+2.1M(+72%)

DDOG 0 12/01/290.7%

+1.1M(+29%)

SCHH3.0%

+148K(+12%)

NFLX0.7%

+71K(+236%)

SCHZ6.7%

+66K(+2%)

VCIT2.2%

+56K(+24%)

ARES 6.75 10/01/27 B0.4%

+41K(+58%)

BND6.7%

+22K(+2%)

Decreased

ON 0.5 03/01/290.3%

-7,240,000(-73%)

NTSX4.0%

-561,532(-43%)

IEFA0.8%

-144,426(-61%)

HPE 7.625 09/01/270.2%

-67,500(-75%)

WMT0.3%

-41,599(-60%)

QQQM4.2%

-35,976(-19%)

JEPI2.6%

-34,635(-6%)

WMB0.0%

-29,400(-90%)

VIG3.3%

-24,614(-14%)

IEF0.0%

-19,598(-99%)

Exited

-68,000

-33,200

-7,439

-17,290

-22,000

-77,000

-12,538

-5,300

-43,500

-1,200

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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