Cetera Investment Advisers

CIK 0001666741 · Q1 2026

13F Equity AUM

$94.0B

+2.7% QoQ

Positions

4,569

+68 QoQ

AUM Rank

#153

Top 1%

Skill Alpha (FF)

-1.9%/yr

Underperformer

Rank #5,107 · Top 62%

vs S&P -6.2%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 9.9%Top 10: 16.1%Top 20: 24.7%

IVV3.0%

AAPL1.9%

NVDA1.8%

VTV1.6%

AGG1.6%

NDQ1.4%

VOO1.3%

SPY1.3%

VTI1.1%

MSFT1.1%

Others (4559)83.9%

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

Sector Allocation

Financial Services72.8%

Technology9.0%

Industrials2.9%

Consumer Cyclical2.8%

Healthcare2.6%

Communication Services2.4%

Other7.6%

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

Position Sizing

Positions: 4569Median: 0.00%Avg: 0.02%

0–0.5%

4542(71.4%)

0.5–1%

14(9.3%)

1–3%

13(19.4%)

3–5%

0(0.0%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 3,872Unique: 697vs 20 funds

48.4%High

4,569

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

58.2%

BANK OF AMERICA CORP /DE/

58.4%

43%

38%

39.5%

33.9%

GEODE CAPITAL MANAGEMENT, LLC

32.4%

VANGUARD CAPITAL MANAGEMENT LLC

32.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

32.3%

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

New273Increased2680Decreased1634Exited193

New Positions

IDEF0.1%

+2.8M

BLCR0.1%

+2.0M

BRIE0.1%

+2.1M

LMUB0.1%

+1.1M

AZN0.1%

+226K

AMCOR PLC0.0%

+201K

GSID0.0%

+106K

LST0.0%

+179K

PSCX0.0%

+409K

EUHY0.0%

+193K

Increased

GOVT0.3%

+6.0M(+145%)

CGDV0.8%

+2.0M(+12%)

PULS0.3%

+1.7M(+57%)

CGGR0.4%

+1.6M(+19%)

BIL0.4%

+1.5M(+52%)

PVAL0.4%

+1.5M(+22%)

DFSV0.1%

+1.5M(+61%)

SPHY0.1%

+1.4M(+68%)

GSIE0.1%

+1.4M(+231%)

DFLV0.1%

+1.3M(+58%)

Decreased

SCHD0.8%

-10,421,505(-30%)

SPTL0.1%

-2,891,454(-43%)

CWB0.0%

-1,313,437(-92%)

SILJ0.1%

-975,341(-27%)

IAU*0.1%

-946,133(-41%)

VONG1.1%

-719,133(-7%)

OEF0.0%

-685,838(-85%)

FSCO0.0%

-644,289(-22%)

IEMG0.7%

-593,367(-6%)

CQQQ0.0%

-557,749(-98%)

Exited

-413,131

-764,405

-199,472

-272,078

-65,548

-7,895

-35,000

-12,071

-7,996

-18,518

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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