Bernicke Wealth Management, Ltd.

CIK 0001569863 · Q2 2026

13F Equity AUM

$861.3M

+11.3% QoQ

Positions

111

+8 QoQ

AUM Rank

#3,678

Top 29%

Skill Alpha (FF)

+0.7%/yr^ns

No Clear Edge

Rank #2,115 · Top 25%

vs S&P -4.5%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 64.1%Top 10: 81.8%Top 20: 89.5%

DCOR18.8%

VCIT17.4%

DFIC9.6%

RSP9.5%

ACWI8.8%

DFAS8.0%

BBHY3.5%

MUB2.6%

EMB2.4%

NVDA1.3%

Others (101)18.2%

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

Sector Allocation

Financial Services88.3%

Technology4.8%

Other7.0%

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

Position Sizing

Positions: 111Median: 0.11%Avg: 0.90%

0–0.5%

92(11.0%)

0.5–1%

7(4.7%)

1–3%

5(8.7%)

3–5%

1(3.5%)

5%+

6(72.1%)

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

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Portfolio Overlap

Shared: 0Unique: 111vs 20 funds

0%Low

111

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

New11Increased40Decreased41Exited3

New Positions

XLK0.1%

+4K

NDQ0.1%

+821

HONEYWELL INTL INC0.0%

+1K

NEE0.0%

+3K

BBY0.0%

+3K

MMM0.0%

+2K

4I10.0%

+1K

VO0.0%

+3K

DE0.0%

+316

ONEQ0.0%

+2K

Increased

VCIT17.4%

+86K(+5%)

VUG0.4%

+30K(+500%)

BBHY3.5%

+28K(+5%)

DFIC9.6%

+26K(+1%)

DCOR18.8%

+20K(+1%)

DFAS8.0%

+17K(+2%)

RSP9.5%

+11K(+3%)

EMB2.4%

+9K(+4%)

MUB2.6%

+8K(+4%)

ACWI8.8%

+7K(+1%)

Decreased

JMUB0.1%

-2,953(-11%)

DFSV0.0%

-2,778(-31%)

PG0.2%

-1,443(-13%)

DFAC0.6%

-1,436(-1%)

BAC0.3%

-1,313(-3%)

MSFT0.7%

-1,189(-7%)

WFC0.2%

-652(-4%)

VXUS0.3%

-615(-2%)

VOE0.0%

-540(-27%)

PANW0.2%

-523(-10%)

Exited

HON

-2,169

HAL

-5,752

NOW

-1,959

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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