Townsend & Associates, Inc

CIK 0001729359 · Q1 2026

13F Equity AUM

$1.2B

+3.5% QoQ

Positions

113

-2 QoQ

AUM Rank

#2,560

Top 21%

Skill Alpha (FF)

-2.7%/yr^ns

No Clear Edge

Rank #5,983 · Top 73%

vs S&P -7.1%/yr (unadj.)

Quarters Tracked

~8 years

Portfolio Concentration

Top 5: 23.4%Top 10: 40.3%Top 20: 63.6%

SHV6.2%

ISTB5.0%

BHP4.3%

JIII4.0%

GQ94.0%

TLT3.9%

NTR3.8%

MYRG3.1%

HDV3.0%

IUSV2.9%

Others (103)59.7%

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

Sector Allocation

Financial Services46.1%

Industrials18.7%

Basic Materials8.4%

Consumer Cyclical7.2%

Healthcare5.5%

Energy5.0%

Consumer Defensive4.1%

Communication Services2.1%

Other2.9%

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

Position Sizing

Positions: 113Median: 0.19%Avg: 0.89%

0–0.5%

71(7.0%)

0.5–1%

2(1.7%)

1–3%

31(54.0%)

3–5%

7(26.1%)

5%+

2(11.2%)

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

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Portfolio Overlap

Shared: 110Unique: 3vs 20 funds

1.5%Low

113

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

2.1%

JPMORGAN CHASE & CO

2.2%

BANK OF AMERICA CORP /DE/

2.3%

FMR LLC

3.6%

BlackRock, Inc.

2.6%

STATE STREET CORP

2.7%

VANGUARD CAPITAL MANAGEMENT LLC

2.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

2.4%

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

New3Increased46Decreased35Exited5

New Positions

TURF1.5%

+506K

T0.0%

+9K

TQQQ0.0%

+3K

Increased

FANG2.1%

+113K(+785%)

GRW1.4%

+88K(+18%)

BKNG1.1%

+68K(+2519%)

NOMD0.7%

+51K(+6%)

CSPF2.9%

+45K(+4%)

ISTB5.0%

+39K(+3%)

JIII4.0%

+31K(+3%)

SHV6.2%

+22K(+3%)

TLT3.9%

+17K(+3%)

AIG2.7%

+15K(+4%)

Decreased

EFV2.6%

-114,918(-22%)

IUSV2.9%

-43,975(-12%)

HDV3.0%

-40,518(-13%)

IAU*1.0%

-33,588(-21%)

BRK/B1.3%

-28,316(-46%)

EMXC1.1%

-24,376(-14%)

GNK2.6%

-7,803(-1%)

BHP4.3%

-7,345(-1%)

MYRG3.1%

-6,882(-6%)

HAL0.3%

-3,085(-3%)

Exited

-152,744

-1,973

-692

-16,656

-620

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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