LEVEL FOUR ADVISORY SERVICES, LLC

CIK 0001696715 · Q2 2026

13F Equity AUM

$3.5B

+16.2% QoQ

Positions

935

+69 QoQ

AUM Rank

#1,781

Top 14%

Skill Alpha (FF)

-0.7%/yr^ns

No Clear Edge

Rank #3,796 · Top 46%

vs S&P -2.6%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 13.7%Top 10: 21.3%Top 20: 31.0%

AAPL4.0%

LGRO3.0%

NDQ3.0%

MSFT1.9%

NVDA1.8%

AMZN1.7%

MU1.6%

GOOGL1.5%

VOO1.4%

SPYM1.4%

Others (925)78.8%

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

Sector Allocation

Financial Services48.3%

Technology20.3%

Industrials6.1%

Consumer Cyclical5.3%

Healthcare5.3%

Communication Services4.0%

Consumer Defensive3.4%

Energy2.6%

Other4.7%

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

Position Sizing

Positions: 935Median: 0.02%Avg: 0.11%

0–0.5%

904(62.3%)

0.5–1%

18(12.8%)

1–3%

12(20.9%)

3–5%

1(4.0%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 0Unique: 935vs 20 funds

0%Low

935

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

New103Increased471Decreased322Exited35

New Positions

GLDM0.1%

+62K

AVDV0.1%

+40K

FNDF0.1%

+66K

ON0.1%

+38K

MDYG0.1%

+21K

SPACE EXPLORATION TE…0.1%

+10K

FTXL0.1%

+6K

VBIL0.0%

+21K

ELF0.0%

+13K

DISV0.0%

+28K

Increased

LGRO3.0%

+188K(+8%)

DVN0.2%

+141K(+1421%)

SCHD0.3%

+98K(+37%)

VUG0.3%

+92K(+541%)

VO0.3%

+87K(+314%)

KLAC0.7%

+73K(+904%)

VTIP0.1%

+71K(+392%)

BKNG0.2%

+46K(+2379%)

PAAA0.4%

+46K(+21%)

CGMS0.2%

+45K(+21%)

Decreased

TCAF1.3%

-79,809(-7%)

FEZ0.1%

-55,625(-55%)

BUG0.0%

-55,206(-63%)

SIVR0.0%

-34,239(-68%)

SHY0.0%

-26,773(-77%)

CMCSA0.1%

-25,952(-14%)

TIP0.0%

-25,862(-88%)

PFF0.1%

-23,843(-27%)

CPRT0.1%

-23,718(-23%)

MBLY0.0%

-23,552(-15%)

Exited

-51,808

-204,039

-36,035

-68,939

-31,672

-19,856

-23,318

-3,972

-7,674

-6,417

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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