Annex Advisory Services, LLC
SEC Form 13F institutional filer · CIK 0001542287
13F-HR · 175 reported holdings · 2026-03-31
Wealth management firm.
Reported long-US-equity value
$2.42B
Top-10 concentration
50.9%
Annex Advisory Services, LLC — $2.42B AUM allocation strategy
Annex Advisory Services, LLC files SEC Form 13F and reports $2.42B of long US equity value across 175 reported holdings for 2026-03-31.
Its largest sector bet is Financials 24.7%, followed by Information Technology 20.4% and Communication Services 9.3%.
The top 10 holdings account for 51% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Annex Advisory Services, LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$2.42B
total across 175 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
51% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$GS +3.31M sh · +$130M+$IVZ +3.11M sh · +$46.5M+$IVV +1.33M sh · +$65.4M
Biggest trims (shares)
−$ORCL −230K sh · −$45.8M−$FCX −165K sh · −$2.05M−$WST −121K sh · −$33.5M
Exited to nil (held last quarter, gone now)
$AJG ($26.6M last qtr)$DPZ ($310K last qtr)$ADBE ($256K last qtr)$TFC ($236K last qtr)$FICO ($227K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Investment Banking & Brokerage12.7%—
- Semiconductors11.9%—
- Asset Management & Custody Banks9.0%—
- Interactive Media & Services5.9%—
- Technology Hardware, Storage & Peripherals4.8%—
- Broadline Retail4.1%—
- Systems Software3.7%—
- Movies & Entertainment3.4%—
- Other holdings44.5%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
9 of 9 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $GS | Goldman Sachs Group Inc | 5.61M | $252M | +3.31M | 10.4% |
| $IVZ | Invesco Ltd | 7.81M | $218M | +3.11M | 9.0% |
| $NVDA | NVIDIA Corporation | 810K | $141M | +91.7K | 5.8% |
| $AAPL | Apple Inc | 460K | $117M | -5.07K | 4.8% |
| $AMZN | Amazon.com Inc | 473K | $98.5M | +12K | 4.1% |
| $MSFT | Microsoft Corporation | 239K | $88.4M | +75.9K | 3.7% |
| $TKO | TKO Group Holdings Inc | 413K | $83.3M | +14.1K | 3.4% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 267K | $76.9M | +76.2K | 3.2% |
| $ADI | Analog Devices Inc | 240K | $76.5M | +108K | 3.2% |
…and 166 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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