Leith Wheeler Investment Counsel Ltd.

CIK 0001353651 · Q2 2026

13F Equity AUM

$1.3B

+8.8% QoQ

Positions

+1 QoQ

AUM Rank

#2,019

Top 23%

Skill Alpha (FF)

-2.1%/yr

Underperformer

Rank #6,026 · Top 73%

vs S&P -2.4%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 45.0%Top 10: 56.9%Top 20: 72.3%

IVV32.8%

MSFT3.4%

UNH3.1%

GOOGL3.0%

V2.8%

BWA2.7%

WFC2.6%

LHX2.4%

DIS2.3%

MDT2.0%

Others (75)43.1%

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

Sector Allocation

Financial Services45.6%

Technology11.8%

Healthcare11.7%

Industrials7.6%

Communication Services7.5%

Consumer Cyclical6.4%

Unclassified2.8%

Basic Materials2.5%

Other4.1%

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

Position Sizing

Positions: 85Median: 0.66%Avg: 1.18%

0–0.5%

35(3.6%)

0.5–1%

25(18.8%)

1–3%

21(35.4%)

3–5%

3(9.5%)

5%+

1(32.8%)

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

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Portfolio Overlap

Shared: 0Unique: 85vs 20 funds

0%Low

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

New5Increased23Decreased47Exited5

New Positions

CARNIVAL CORP LTD1.6%

+732K

EFAX0.9%

+226K

VSGX0.7%

+110K

HLI0.6%

+62K

OCTAVE INTELLIGENCE-…0.3%

+275K

Increased

LPX1.0%

+66K(+66%)

MSFT3.4%

+56K(+89%)

BWA2.7%

+38K(+8%)

RUSHA0.4%

+23K(+42%)

GMED1.1%

+15K(+10%)

RRC0.6%

+15K(+8%)

META2.0%

+10K(+28%)

MDT2.0%

+7K(+2%)

NKE1.0%

+2K(+0%)

ORCL0.2%

+760(+5%)

Decreased

HSIC1.2%

-164,031(-46%)

MDLZ0.7%

-57,526(-28%)

QCOM1.3%

-38,702(-30%)

SEIC1.2%

-21,743(-11%)

MKSI0.7%

-15,902(-43%)

UNH3.1%

-11,961(-11%)

HLMN0.6%

-7,618(-1%)

FA1.0%

-6,426(-1%)

ICLR1.0%

-5,614(-7%)

HAYW0.7%

-5,041(-1%)

Exited

QQQM

-106,290

WYNN

-149,902

SPDR MSCI EAFA FOSSI…

-222,164

-645,533

UHS

-33,592

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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