Code Waechter LLC

CIK 0002039212 · Q2 2026

13F Equity AUM

$193.3M

+14.9% QoQ

Positions

127

+9 QoQ

AUM Rank

#8,216

Top 66%

Skill Alpha (FF)

—

Building track record (7q)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 37.0%Top 10: 51.1%Top 20: 66.6%

SCHG10.7%

CGDV8.8%

VB7.0%

SGOV5.9%

VIOG4.5%

CGNG3.3%

AVUV2.9%

SCHX2.7%

BALT2.7%

SCHM2.6%

Others (117)48.9%

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

Sector Allocation

Financial Services77.0%

Technology5.3%

Healthcare3.4%

Energy2.9%

Utilities2.0%

Other9.4%

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

Position Sizing

Positions: 127Median: 0.30%Avg: 0.79%

0–0.5%

88(21.0%)

0.5–1%

19(12.4%)

1–3%

14(26.4%)

3–5%

2(7.8%)

5%+

4(32.4%)

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

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Portfolio Overlap

Shared: 0Unique: 127vs 20 funds

0%Low

127

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

New13Increased49Decreased42Exited4

New Positions

AVUV2.9%

+45K

DEFR0.9%

+67K

SCHZ0.2%

+18K

MU0.2%

+331

CSCO0.2%

+3K

MDT0.1%

+4K

IP0.1%

+7K

TSM0.1%

+523

ZJUL0.1%

+8K

V0.1%

+666

Increased

SCHG10.7%

+19K(+3%)

CGDV8.8%

+18K(+5%)

BALT2.7%

+13K(+10%)

DRSK2.0%

+12K(+9%)

CGNG3.3%

+10K(+6%)

IWF0.8%

+9K(+300%)

CGGO1.6%

+9K(+13%)

VO0.2%

+5K(+520%)

SCHF0.8%

+4K(+8%)

VB7.0%

+3K(+7%)

Decreased

SCHR2.1%

-53,116(-25%)

VIOV1.8%

-46,223(-61%)

SGOV5.9%

-2,657(-2%)

HAL0.1%

-2,174(-25%)

GSK0.2%

-1,772(-17%)

SCHA1.4%

-1,706(-2%)

O0.2%

-1,647(-18%)

XOM0.3%

-1,306(-21%)

NGG0.4%

-1,175(-10%)

SCHM2.6%

-1,015(-1%)

Exited

AIG

-3,427

-662

DGED

-2,772

CRM

-1,117

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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