AA
Annex Advisory Services, LLC — 13F Portfolio Changes & Top Buys (Q3 2026)
Annex Advisory Services, LLCCIK: 0001542287
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$6.1B
Reporting period: 2026-09-30 · Number of holdings: 377
Annex Advisory Services, LLC disclosed 377 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $6.1B and a quarterly turnover rate of 44.2%.
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Personality snowflake
- Concentration
- 8.27
- Portfolio Stability
- 44.16
- Momentum
- 100
- Sector conviction
- 67.58
- Diversification
- 100
- Sizing Uniformity
- 73.9
Annex Advisory Services, LLC's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 48 equally-sized positions, well below its 377 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.61), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 38% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy JCPB
Trim UBND
-26.2% -$122.5M
Add AGG
+47842.7% $96.7M
Trim PCY
-98.6% -$90.0M
Trim BAB
-98.3% -$87.9M
Trim VGLT
-96.1% -$86.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 377 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GSIE | Goldman Sachs Activebeta Int | ETF-Commodities | 4.83% | — | +4.02% | |
| 2 | UBND | Victoryshares Core Plus Bond | ETF-Other | 4.72% | -2.29% | -26.18% | |
| 3 | AVUS | Avantis U.s. Equity ETF | ETF-Other | 4.54% | +0.11% | +6.96% | |
| 4 | DFAU | Dimensional US Core Equity M | ETF-Other | 4.09% | +0.24% | +9.58% | |
| 5 | LRGF | Ishares US Equity Factor ETF | ETF-Other | 3.97% | +0.30% | +9.57% | |
| 6 | JCPB | Jpmorgan Core Plus Bond ETF | ETF-Other | 3.67% | +3.67% | NEW | |
| 7 | SMTH | Alps Smth Cor Bd Plus ETF | ETF-Other | 3.22% | -0.84% | -13.19% | |
| 8 | DFAI | Dimensional International Co | ETF-Other | 3.11% | +0.20% | +11.11% | |
| 9 | AAPL | Apple Inc | Stock-Tech | 2.97% | +0.73% | +20.16% | |
| 10 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 2.58% | +0.03% | +8.06% | |
| 11 | NVDA | Nvidia CORP | Stock-Tech | 2.50% | +0.26% | +1.82% | |
| 12 | MSFT | Microsoft CORP | Stock-Tech | 2.04% | +0.54% | +3.14% | |
| 13 | DFIC | Dimensional International Co | ETF-Other | 1.83% | +0.14% | +11.55% | |
| 14 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.80% | +0.18% | +20.10% | |
| 15 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 1.59% | +1.59% | +47842.68% | |
| 16 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 1.55% | -0.01% | +6.04% | |
| 17 | PBTP | Invesco 0-5 Yr US Tips ETF | ETF-Other | 1.47% | +1.47% | NEW | |
| 18 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.40% | -0.04% | -3.07% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 1.31% | -0.03% | -2.67% | |
| 20 | ADI | Analog Devices Inc | Stock-Tech | 1.31% | -0.30% | -15.08% | |
| 21 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.27% | +0.21% | -3.13% | |
| 22 | AVGO | Broadcom Inc | Stock-Tech | 1.21% | -0.18% | -2.54% | |
| 23 | KBWB | Invesco Kbw Bank ETF | ETF-Other | 1.16% | -0.04% | +7.31% | |
| 24 | ZROZ | Pimco 25+ Yr Zero Cpn US Tif | ETF-Other | 1.15% | +1.15% | +37529.33% | |
| 25 | IHAK | Ishares Cybersecurity & Tech | ETF-Tech | 1.14% | +0.65% | +115.54% | |
| 26 | AVLV | Avantis US Large Cap Value | ETF-Large Cap & Growth | 1.06% | +1.06% | NEW | |
| 27 | FNV | Franco-nevada CORP | Stock-Materials | 1.02% | +0.45% | +63.41% | |
| 28 | MS | Morgan Stanley | Stock-Financials | 1.01% | -0.19% | -1.90% | |
| 29 | XHB | Ss Spdr S&p Homebldrs ETF | ETF-Other | 0.98% | -0.15% | +8.47% | |
| 30 | SMLF | Ishares US Smallcap Equity F | ETF-Other | 0.96% | +0.01% | +12.29% | |
| 31 | AVDE | Avantis International Equity | ETF-Other | 0.95% | -1.34% | -57.08% | |
| 32 | EMGF | Ishares Emerging Markets Equ | ETF-Emerging Markets | 0.90% | +0.10% | +19.93% | |
| 33 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 0.88% | +0.28% | +18.61% | |
| 34 | MU | Micron Technology Inc | Stock-Tech | 0.88% | +0.78% | +849.89% | |
| 35 | FCX | Freeport-mcmoran Inc | Stock-Materials | 0.85% | +0.04% | -1.36% | |
| 36 | MRVL | Marvell Technology Inc | Stock-Tech | 0.85% | +0.74% | +831.75% | |
| 37 | VCTR | Victory Capital Holding - A | Stock-Other | 0.84% | — | -19.82% | |
| 38 | TPL | Texas Pacific Land CORP | Stock-Energy | 0.84% | -0.31% | +2.66% | |
| 39 | PM | Philip Morris International | Stock-Consumer Staples | 0.82% | +0.03% | +1.95% | |
| 40 | AMGN | Amgen Inc | Stock-Healthcare | 0.77% | +0.69% | +794.24% | |
| 41 | NOK | Nokia Corp-spon Adr | Stock-Tech | 0.74% | +0.68% | +1710.95% | |
| 42 | ASML | ASML Holding N.V. | Stock-Tech | 0.74% | -0.10% | +0.81% | |
| 43 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 0.73% | +0.12% | +29.78% | |
| 44 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.72% | -0.03% | -0.86% | |
| 45 | CVX | Chevron CORP | Stock-Energy | 0.71% | +0.31% | +49.43% | |
| 46 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.70% | +0.21% | +70.40% | |
| 47 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 0.69% | — | +4.60% | |
| 48 | DE | Deere & Co | Stock-Industrials | 0.65% | +0.02% | +1.53% | |
| 49 | BAC | Bank Of America CORP | Stock-Financials | 0.65% | -0.07% | -1.45% | |
| 50 | STM | Stmicroelectronics Nv-ny Shs | Stock-Tech | 0.64% | +0.64% | NEW |
1–50 of 200
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q4 2026
+1.8%
Performance Last 4 Quarters
+10.7%
- Stdev
- +11.4%
- Beta
- +0.88
- Alpha
- -1%
- Max Drawdown
- -5.5%
- Annualized Perf
- +19.7%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +3.54
- Stutzer
- +0.48
- Treynor
- +0.21
- Sterling
- +1.33
- Calmar
- +3.6
- Information Ratio
- -0.9
- Tracking Error
- +4.3%
- Stdev Down
- +5.3%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +29.3%
- Worst 12 Months
- +6.1%
- Efficiency Ratio
- +0.69
- Sharpe
- +1.64
- Stdev Sectors
- +11.1%
- Skewness
- -0.06
- Kurtosis
- -0.53
- Upside Potential
- +5.05
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 377 | $6.1B | 44 | ||
| 2026 Q2 | 356 | $5.9B | 0 | ||
| 2026 Q1 | 375 | $5.3B | 51 | ||
| 2025 Q4 | 357 | $5.2B | 34 | ||
| 2025 Q3 | 314 | $4.7B | 59 | ||
| 2025 Q2 | 321 | $4.2B | 0 | ||
| 2025 Q1 | 309 | $3.5B | 100 | ||
| 2024 Q4 | 311 | $3.3B | 0 | ||
| 2024 Q3 | 286 | $3.1B | 0 | ||
| 2024 Q2 | 283 | $2.8B | 0 | ||
| 2024 Q1 | 285 | $2.8B | 0 | ||
| 2023 Q4 | 266 | $2.4B | 0 | ||
| 2023 Q3 | 254 | $1.7B | 0 | ||
| 2023 Q2 | 250 | $1.8B | 0 | ||
| 2023 Q1 | 243 | $1.9B | 0 | ||
| 2022 Q4 | 252 | $1.8B | 0 | ||
| 2022 Q3 | 238 | $1.5B | 0 | ||
| 2022 Q2 | 256 | $1.4B | 0 | ||
| 2022 Q1 | 250 | $1.4B | 0 | ||
| 2021 Q4 | 250 | $1.5B | 0 | ||
| 2021 Q3 | 213 | $1.2B | 0 | ||
| 2021 Q2 | 218 | $1.2B | 91 | ||
| 2021 Q1 | 202 | $1.0B | 27 | ||
| 2020 Q4 | 193 | $1.0B | 35 | ||
| 2020 Q3 | 137 | $784.5M | 13 | ||
| 2020 Q2 | 123 | $717.2M | 47 | ||
| 2020 Q1 | 123 | $706.2M | 60 | ||
| 2019 Q4 | 132 | $825.3M | 12 | ||
| 2019 Q3 | 124 | $744.3M | 9 | ||
| 2019 Q2 | 119 | $710.3M | 9 | ||
| 2019 Q1 | 132 | $667.3M | 23 | ||
| 2018 Q4 | 129 | $634.3M | 22 | ||
| 2018 Q3 | 134 | $647.1M | 13 | ||
| 2018 Q2 | 129 | $586.7M | 25 | ||
| 2018 Q1 | 129 | $549.8M | 16 | ||
| 2017 Q4 | 122 | $529.0M | 10 | ||
| 2017 Q3 | 124 | $488.0M | 11 | ||
| 2017 Q2 | 125 | $450.4M | 28 | ||
| 2017 Q1 | 119 | $402.5M | 25 | ||
| 2016 Q4 | 110 | $411.8M | 10 | ||
| 2016 Q3 | 111 | $384.4M | 7 | ||
| 2016 Q2 | 115 | $369.1M | 8 | ||
| 2016 Q1 | 114 | $352.4M | 15 | ||
| 2015 Q4 | 113 | $341.3M | 12 | ||
| 2015 Q3 | 115 | $307.6M | 9 | ||
| 2015 Q2 | 114 | $312.0M | 14 | ||
| 2015 Q1 | 117 | $310.8M | 36 | ||
| 2014 Q4 | 97 | $320.7M | 21 | ||
| 2014 Q3 | 86 | $295.6M | 9 | ||
| 2014 Q2 | 82 | $292.8M | 11 | ||
| 2014 Q1 | 87 | $269.0M | 38 | ||
| 2013 Q4 | 92 | $260.5M | 33 | ||
| 2013 Q3 | 97 | $214.7M | 29 | ||
| 2013 Q2 | 97 | $181.2M | 0 |
Holding changes this quarter
Annex Advisory Services, LLC's most significant position changes for 2026-09-30: New buy: Jpmorgan Core Plus Bond ETF (JCPB); New buy: Invesco 0-5 Yr US Tips ETF (PBTP); New buy: Avantis US Large Cap Value (AVLV); New buy: Stmicroelectronics Nv-ny Shs (STM); New buy: Ss Spdr S&p Semiconductor (XSD).
Showing top 200 changes by size (of 398 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | JCPB | Jpmorgan Core Plus Bond ETF | +3.7% | NEW | New buy |
| 2 | AGG | Ishares Core U.s. Aggregate | +1.6% | +47842.68% | Add |
| 3 | PBTP | Invesco 0-5 Yr US Tips ETF | +1.5% | NEW | New buy |
| 4 | ZROZ | Pimco 25+ Yr Zero Cpn US Tif | +1.2% | +37529.33% | Add |
| 5 | AVLV | Avantis US Large Cap Value | +1.1% | NEW | New buy |
| 6 | MU | Micron Technology Inc | +0.8% | +849.89% | Add |
| 7 | MRVL | Marvell Technology Inc | +0.7% | +831.75% | Add |
| 8 | AAPL | Apple Inc | +0.7% | +20.16% | Add |
| 9 | AMGN | Amgen Inc | +0.7% | +794.24% | Add |
| 10 | NOK | Nokia Corp-spon Adr | +0.7% | +1710.95% | Add |
| 11 | IHAK | Ishares Cybersecurity & Tech | +0.7% | +115.54% | Add |
| 12 | STM | Stmicroelectronics Nv-ny Shs | +0.6% | NEW | New buy |
| 13 | LRCX | Lam Research CORP | +0.6% | +9230.95% | Add |
| 14 | XSD | Ss Spdr S&p Semiconductor | +0.6% | NEW | New buy |
| 15 | LLY | Eli Lilly & Co | +0.6% | +765.22% | Add |
| 16 | MSFT | Microsoft CORP | +0.5% | +3.14% | Add |
| 17 | FNV | Franco-nevada CORP | +0.5% | +63.41% | Add |
| 18 | TOL | Toll Brothers Inc | +0.4% | +353.50% | Add |
| 19 | CVX | Chevron CORP | +0.3% | +49.43% | Add |
| 20 | LRGF | Ishares US Equity Factor ETF | +0.3% | +9.57% | Add |
| 21 | PBR | Petroleo Brasileiro-spon Adr | +0.3% | +18.61% | Add |
| 22 | VPG | Vishay Precision Group | +0.3% | +2799.77% | Add |
| 23 | INTU | Intuit Inc | +0.3% | NEW | New buy |
| 24 | NVDA | Nvidia CORP | +0.3% | +1.82% | Add |
| 25 | DFAU | Dimensional US Core Equity M | +0.2% | +9.58% | Add |
| 26 | META | Meta Platforms Inc-class A | +0.2% | -3.13% | Trim |
| 27 | UNH | Unitedhealth Group Inc | +0.2% | +70.40% | Add |
| 28 | DFAI | Dimensional International Co | +0.2% | +11.11% | Add |
| 29 | GOOGL | Alphabet Inc-cl A | +0.2% | +20.10% | Add |
| 30 | SMCI | Super Micro Computer Inc | +0.2% | NEW | New buy |
| 31 | DFIC | Dimensional International Co | +0.1% | +11.55% | Add |
| 32 | ✓ | +0.1% | NEW | New buy | |
| 33 | PYLD | Pimco Multisector Bond Actv | +0.1% | +29.78% | Add |
| 34 | AVUS | Avantis U.s. Equity ETF | +0.1% | +6.96% | Add |
| 35 | CSCO | Cisco Systems Inc | +0.1% | +157.51% | Add |
| 36 | EMGF | Ishares Emerging Markets Equ | +0.1% | +19.93% | Add |
| 37 | KSS | Kohls CORP | +0.1% | +1016.93% | Add |
| 38 | TMO | Thermo Fisher Scientific Inc | +0.1% | +5.78% | Add |
| 39 | BMI | Badger Meter Inc | +0.1% | +219.17% | Add |
| 40 | MUB | Ishares National Muni Bond E | +0.1% | +488.10% | Add |
| 41 | FCX | Freeport-mcmoran Inc | 0% | -1.36% | Trim |
| 42 | AVEM | Avantis Emerging Markets Eq | 0% | +8.06% | Add |
| 43 | PM | Philip Morris International | 0% | +1.95% | Add |
| 44 | SGOV | Ishares 0-3 Month Treasury B | 0% | NEW | New buy |
| 45 | DE | Deere & Co | 0% | +1.53% | Add |
| 46 | AEM | Agnico Eagle Mines LTD | 0% | +19.05% | Add |
| 47 | CVE | Cenovus Energy Inc | 0% | +11.83% | Add |
| 48 | DLO | DLocal Limited | 0% | NEW | New buy |
| 49 | FOUR | Shift4 Payments Inc-class A | 0% | NEW | New buy |
| 50 | TMDX | Transmedics Group Inc | 0% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is Annex Advisory Services, LLC and what type of investor is it?
Annex Advisory Services, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $6.1B, spread across 377 disclosed positions.
What are Annex Advisory Services, LLC's largest equity positions?
Based on the latest 13F filing, Annex Advisory Services, LLC's top holdings by market value are:
1. Goldman Sachs Activebeta Int (GSIE) — $295.0M (4.8%)
2. Victoryshares Core Plus Bond (UBND) — $288.3M (4.7%)
3. Avantis U.s. Equity ETF (AVUS) — $277.5M (4.5%)
4. Dimensional US Core Equity M (DFAU) — $250.1M (4.1%)
5. Ishares US Equity Factor ETF (LRGF) — $242.2M (4.0%)
What changes did Annex Advisory Services, LLC make in its most recent portfolio filing?
In the latest reported quarter, Annex Advisory Services, LLC made 199 notable position adjustments: 31 new positions were initiated, 76 existing holdings were added to, 83 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: Jpmorgan Core Plus Bond ETF (JCPB); New buy: Invesco 0-5 Yr US Tips ETF (PBTP); New buy: Avantis US Large Cap Value (AVLV); New buy: Stmicroelectronics Nv-ny Shs (STM); New buy: Ss Spdr S&p Semiconductor (XSD)
What sectors does Annex Advisory Services, LLC focus on?
Annex Advisory Services, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 42.5%
• Financials: 10.5%
• Health Care: 9.0%
• Communication Services: 8.8%
• Energy: 7.7%
• Consumer Discretionary: 7.2%
Investment Profile
Annex Advisory Services, LLC returned an annualized 19.7% over the trailing 36 months — underperforming the S&P 500 by 1.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.88 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 42.5% of the portfolio concentrated in Information Technology.
It has added to its LRGF position over the past two quarters (+$152.3M, now $242.2M), while trimming IOO over the same stretch (-$139.1M, still holding $14.8M).
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Developer Access
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REST API
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