WEALTH ENHANCEMENT ADVISORY SERVICES, LLC

CIK 0001632972 · Q1 2026

13F Equity AUM

$49.1B

-33.4% QoQ

Positions

3,486

-43 QoQ

AUM Rank

#237

Top 2%

Skill Alpha (FF)

-1.9%/yr

Underperformer

Rank #4,968 · Top 60%

vs S&P -6.8%/yr (unadj.)

Quarters Tracked

~11 years

Portfolio Concentration

Top 5: 15.8%Top 10: 22.9%Top 20: 33.0%

IVV6.0%

AGG3.0%

AAPL2.7%

SMTH2.2%

NVDA2.0%

MSFT1.6%

FNDF1.4%

VWO1.4%

USVM1.3%

JMOM1.3%

Others (3476)77.0%

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

Sector Allocation

Financial Services63.3%

Technology12.6%

Industrials4.7%

Healthcare4.1%

Consumer Cyclical3.8%

Communication Services3.3%

Consumer Defensive2.0%

Energy2.0%

Other4.3%

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

Position Sizing

Positions: 3486Median: 0.00%Avg: 0.03%

0–0.5%

3456(60.9%)

0.5–1%

15(10.4%)

1–3%

14(22.7%)

3–5%

0(0.0%)

5%+

1(6.0%)

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

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Portfolio Overlap

Shared: 3,204Unique: 282vs 20 funds

42.3%High

3,486

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

53.7%

BANK OF AMERICA CORP /DE/

56.4%

46.7%

44.9%

47.9%

41.7%

GEODE CAPITAL MANAGEMENT, LLC

39.7%

VANGUARD CAPITAL MANAGEMENT LLC

39.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

42.9%

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

New289Increased1209Decreased2022Exited348

New Positions

XAGG0.1%

+749K

MMCA0.0%

+168K

MISL0.0%

+75K

BLCR0.0%

+140K

FEM0.0%

+82K

HTFL0.0%

+134K

RTO0.0%

+112K

IDEF0.0%

+176K

RSBT0.0%

+271K

IALT0.0%

+142K

Increased

VGIT0.2%

+1.7M(+855%)

APH0.3%

+1.3M(+501%)

PDBC0.1%

+1.3M(+108%)

WULF0.1%

+1.2M(+161%)

BAC0.3%

+975K(+32%)

CMCSA0.1%

+744K(+83%)

BAC0.2%

+693K(+32%)

T0.2%

+675K(+20%)

VNQ0.2%

+661K(+228%)

VCIT0.1%

+589K(+148%)

Decreased

SMTH2.2%

-13,379,832(-24%)

SCHX0.6%

-8,076,252(-42%)

IMTM1.2%

-7,885,805(-40%)

AVGO0.5%

-6,767,351(-84%)

GOVT1.1%

-6,652,722(-22%)

VWO1.4%

-5,437,167(-30%)

AGG3.0%

-4,695,419(-24%)

DWAS0.1%

-4,110,342(-91%)

FNDF1.4%

-3,865,821(-21%)

SCHF0.3%

-3,681,999(-40%)

Exited

-1,712,662

-332,638

-62,190

-13,497

-27,345

-12,078

-10,067

-20,875

-38,618

-24,403

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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