WILLNER & HELLER, LLC

CIK 0001927796 · Q1 2026

13F Equity AUM

$134.2M

-3.6% QoQ

Positions

161

-4 QoQ

AUM Rank

#8,966

Top 72%

Skill Alpha (FF)

-0.5%/yr^ns

No Clear Edge

Rank #2,939 · Top 36%

vs S&P -2.1%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 18.5%Top 10: 27.8%Top 20: 41.5%

NVDA5.8%

AAPL3.6%

RDVY3.5%

IWF3.1%

MSFT2.5%

GOOGL2.2%

AMZN2.1%

BRK/B1.7%

LRCX1.6%

FTSM1.6%

Others (151)72.2%

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

Sector Allocation

Financial Services49.0%

Technology27.0%

Healthcare7.4%

Industrials4.5%

Consumer Cyclical4.4%

Communication Services4.1%

Consumer Defensive2.0%

Other1.7%

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

Position Sizing

Positions: 161Median: 0.39%Avg: 0.62%

0–0.5%

99(28.3%)

0.5–1%

39(26.8%)

1–3%

19(29.0%)

3–5%

3(10.2%)

5%+

1(5.8%)

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

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Portfolio Overlap

Shared: 152Unique: 9vs 20 funds

2.1%Low

161

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)

BANK OF AMERICA CORP /DE/

3.2%

2.8%

2.9%

4.6%

2.9%

2.8%

GEODE CAPITAL MANAGEMENT, LLC

2.6%

VANGUARD CAPITAL MANAGEMENT LLC

2.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.1%

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

New10Increased84Decreased54Exited14

New Positions

RAAX0.2%

+8K

AIS0.2%

+6K

PIZ0.2%

+5K

GEV0.2%

+284

RSHO0.2%

+5K

BKNG0.2%

+52

CGNX0.2%

+4K

RTX0.2%

+1K

QLYS0.2%

+2K

EQT0.1%

+3K

Increased

WCMI0.4%

+14K(+76%)

RDVY3.5%

+6K(+9%)

NOW0.8%

+5K(+99%)

BBSI0.8%

+3K(+9%)

IDMO0.3%

+2K(+39%)

PLTR1.2%

+1K(+14%)

ARM1.4%

+1K(+10%)

DFAT0.9%

+1K(+6%)

FYC0.7%

+1K(+14%)

JPM1.3%

+820(+17%)

Decreased

FTSM1.6%

-9,598(-21%)

BALI0.2%

-1,528(-17%)

RPG0.4%

-1,439(-10%)

LRCX1.6%

-1,043(-9%)

T0.5%

-848(-3%)

NFLX0.4%

-813(-14%)

AMAT1.4%

-685(-11%)

NVDA5.8%

-664(-1%)

VRT0.5%

-576(-17%)

CATY1.6%

-466(-1%)

Exited

-1,984

-2,141

-893

-26,191

-2,469

-4,691

-3,435

-2,293

-1,024

-2,435

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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