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Annex Advisory Services, LLC

13F for June 30, 2026, filed July 10, 2026 · SEC CIK 1542287

Reported value
$5.9bn
40% in companies we cover
Positions we cover
209
Largest NVDA 2.2%
Copy, a year
+13.7%
S&P 500 +14.7%
Copy Sharpe ratio
0.66
S&P 500 0.73

How copying its 13F would have done

$10.0k$20.0k 202120222023202420252026 $22.1k$20.9k
CopyS&P 500 $10,000 copying Annex Advisory Services, LLC's filed holdings in companies we cover from January 29, 2021, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −22.5% (S&P 500 −23.9%); beta 0.99; alpha −0.8% a year (t = −0.47); last 12 months +6.5% against +12.1%.

Reported value by quarter

Annex Advisory Services, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $500B $1T $1.5T $2T Reported value, 2020-12-31: $1B Reported value, 2021-03-31: $1B Reported value, 2021-06-30: $1.2B Reported value, 2021-09-30: $1.2B Reported value, 2021-12-31: $1.5B Reported value, 2022-03-31: $1.4B Reported value, 2022-06-30: $1.4B Reported value, 2022-09-30: $1.5B Reported value, 2022-12-31: $1.8T Reported value, 2023-03-31: $1.9B Reported value, 2023-06-30: $1.8B Reported value, 2023-09-30: $1.7B Reported value, 2023-12-31: $2.4B Reported value, 2024-03-31: $2.8B Reported value, 2024-06-30: $2.8B Reported value, 2024-09-30: $3.1B Reported value, 2024-12-31: $3.3B Reported value, 2025-03-31: $3.5B Reported value, 2025-06-30: $4.2B Reported value, 2025-09-30: $4.7B Reported value, 2025-12-31: $5.2B Reported value, 2026-03-31: $5.3B Reported value, 2026-06-30: $5.9B 2020-12-31 2022-03-31 2023-06-30 2024-09-30 2026-06-30 $5.9B
View chart data
Period Reported value
2020-12-31 $1B
2021-03-31 $1B
2021-06-30 $1.2B
2021-09-30 $1.2B
2021-12-31 $1.5B
2022-03-31 $1.4B
2022-06-30 $1.4B
2022-09-30 $1.5B
2022-12-31 $1.8T
2023-03-31 $1.9B
2023-06-30 $1.8B
2023-09-30 $1.7B
2023-12-31 $2.4B
2024-03-31 $2.8B
2024-06-30 $2.8B
2024-09-30 $3.1B
2024-12-31 $3.3B
2025-03-31 $3.5B
2025-06-30 $4.2B
2025-09-30 $4.7B
2025-12-31 $5.2B
2026-03-31 $5.3B
2026-06-30 $5.9B

Latest covered holdings and moves

Covered holdings as of June 30, 2026.

CompanyShare of portfolioValueSharesChange in shares
NVDANVIDIA Corporation2.24%$131.4m656.9K−18.9% Reduced
AAPLApple Inc.2.24%$131.3m453.9K−1.4% Reduced
GOOGLAlphabet Inc. (Class A)1.62%$95.0m265.7K−0.6% Reduced
ADIAnalog Devices1.60%$94.0m236.8K−1.5% Reduced
MSFTMicrosoft Corporation1.50%$87.8m235.3K−1.5% Reduced
AMZNAmazon1.44%$84.6m355.0K−24.9% Reduced
TKOTKO Group Holdings1.44%$84.3m418.6K+1.3% Added
AVGOBroadcom1.39%$81.4m215.4K−4.3% Reduced
VVisa Inc.1.34%$78.5m228.9K−1.9% Reduced
MSMorgan Stanley1.20%$70.2m335.7K−2.6% Reduced
TPLTexas Pacific Land Corporation1.15%$67.2m153.5K+104.5% Added
NEENextEra Energy1.06%$62.4m711.0K+13.9% Added
METAMeta Platforms1.06%$62.1m110.2K−2.8% Reduced
FWONKLiberty Media Corp0.92%$53.9m566.4K+28.8% Added
ASMLAsml Holding NV0.84%$49.1m24.7K−42.7% Reduced
VCTRVictory Capital Holdings, Inc.0.83%$48.9m582.0K−1.7% Reduced
FCXFreeport-McMoRan0.81%$47.6m756.2K−4.6% Reduced
PMPhilip Morris International0.79%$46.4m256.5K+150.8% Added
VRTVertiv0.76%$44.4m132.8K+3.4% Added
BACBank of America0.72%$42.0m736.4K−0.3%
ORLYO'Reilly Automotive0.67%$39.0m423.7K−2.6% Reduced
UBERUber0.65%$37.9m525.3K−2.1% Reduced
DEDeere & Company0.63%$36.9m58.2K+11031.7% Added
COSTCostco0.62%$36.2m38.7K−3.5% Reduced
ISRGIntuitive Surgical0.62%$36.2m90.9K+37.4% Added
PBRPetrobras - Petroleo Brasileiro SA0.60%$35.3m2.18M+2.4% Added
EXPEExpedia Group0.60%$35.0m136.7K−40.8% Reduced
GRBKGreen Brick Partners, Inc.0.60%$35.0m437.0K−20.5% Reduced
UFPTUFP Technologies Inc0.59%$34.6m130.5K+0.1%
FNVFranco Nevada Corp0.57%$33.5m160.6K+70.5% Added
GMEDGlobus Medical Inc0.50%$29.5m372.8K+6.4% Added
UNHUnitedHealth Group0.49%$28.5m68.6K+159.6% Added
LMATLemaitre Vascular Inc0.41%$23.8m248.3K−0.9% Reduced
CVXChevron Corporation0.40%$23.6m142.2K−1.7% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD0.40%$23.1m48.4K−8.9% Reduced
JPMJPMorgan Chase0.29%$16.8m51.3K−1.9% Reduced
WECWEC Energy Group0.24%$14.2m121.4K+8.6% Added
ABBVAbbVie0.23%$13.6m54.0K−1.9% Reduced
TMOThermo Fisher Scientific0.21%$12.4m24.7K+12.6% Added
AMATApplied Materials0.19%$10.9m15.1K−10.0% Reduced
ETNEaton Corporation0.19%$10.9m25.6K−19.3% Reduced
GSGoldman Sachs0.18%$10.4m10.2K−16.7% Reduced
TOLToll Brothers, Inc.0.17%$10.0m60.7K+32.4% Added
WMBWilliams Companies0.16%$9.6m129.1K−9.6% Reduced
MNSTMonster Beverage0.15%$8.5m88.9K−8.0% Reduced
VLOValero Energy0.14%$8.0m30.7K−8.4% Reduced
JNJJohnson & Johnson0.12%$7.3m28.6K−16.0% Reduced
MOAltria0.12%$7.2m99.8K+82.8% Added
CTASCintas0.11%$6.4m37.8K−12.8% Reduced
HONHoneywell Technologies0.11%$6.3m28.1KNew
MRVLMarvell Technology0.11%$6.3m21.1K−62.9% Reduced
HDThe Home Depot0.11%$6.2m17.7K+19.8% Added
HONAHoneywell Aerospace0.11%$6.2m28.1KNew
MUMicron Technology0.10%$6.1m5.3K−58.8% Reduced
COFCapital One0.10%$5.9m29.2K+2.0% Added
CSCOCisco0.08%$4.9m41.5K−21.7% Reduced
LLYLilly (Eli)0.08%$4.6m3.8K+1.6% Added
AMGNAmgen0.08%$4.5m12.5K−4.1% Reduced
AEMAgnico Eagle Mines LTD0.08%$4.5m29.0K+70.5% Added
WMWaste Management0.08%$4.4m19.9K−0.4%
CCitigroup0.07%$4.4m31.3K−4.8% Reduced
BRCBrady Corp0.07%$4.1m44.7K0.0%
HALHalliburton0.07%$4.1m120.4K+2.8% Added
IESCIES Holdings, Inc.0.07%$4.0m5.5K−28.3% Reduced
CVECenovus Energy Inc.0.07%$3.9m159.1K+8.5% Added
TRVThe Travelers Companies0.07%$3.9m11.8K+299.2% Added
GHMGraham Corp0.07%$3.9m31.2K−1.2% Reduced
DCODucommun Inc0.06%$3.6m19.7K−4.0% Reduced
ABTAbbott Laboratories0.06%$3.5m38.7K−7.0% Reduced
LPLALPL Financial Holdings Inc.0.06%$3.4m12.1K+10.5% Added
TAT&T0.06%$3.2m155.5K−2.1% Reduced
TSLATesla, Inc.0.05%$3.2m7.5K+78.8% Added
GLBEGlobal-e Online Ltd.0.05%$3.1m88.1K+37.8% Added
FCFSFirstcash Holdings, Inc.0.05%$2.8m12.9K−1.6% Reduced
MAMAMama's Creations, Inc.0.05%$2.7m153.7K−36.2% Reduced
OIIOceaneering International Inc0.05%$2.7m67.3K+29.3% Added
DGIIDigi International Inc0.05%$2.7m36.4K−1.7% Reduced
LBLandbridge Corp0.04%$2.7m33.5K+11.9% Added
AIZAssurant0.04%$2.6m9.8K−0.1%
CAMTCamtek LTD0.04%$2.5m15.3K+51.1% Added
ORCLOracle Corporation0.04%$2.4m16.1K−26.1% Reduced
ZETAZeta Global Holdings Corp.0.04%$2.3m119.3K−31.6% Reduced
LYTSLSI Industries Inc0.04%$2.3m87.5K−3.6% Reduced
LINLinde plc0.04%$2.3m4.4K−20.4% Reduced
USBU.S. Bancorp0.04%$2.2m36.2K+1.7% Added
OSCROscar Health, Inc.0.04%$2.1m74.3K−55.4% Reduced
TXNTexas Instruments0.04%$2.0m6.9K+2.6% Added
GEGE Aerospace0.03%$2.0m5.4K+5.9% Added
PIPRPiper Sandler Companies0.03%$2.0m27.5K+2.6% Added
BMIBadger Meter Inc0.03%$2.0m13.3K+4.7% Added
SOFISoFi Technologies, Inc.0.03%$2.0m109.5KNew
WMTWalmart0.03%$2.0m17.3K−1.4% Reduced
MCRIMonarch Casino & Resort Inc0.03%$1.9m14.7K−3.0% Reduced
JOEST JOE Co0.03%$1.9m29.9K−3.2% Reduced
PGProcter & Gamble0.03%$1.8m12.5K−21.3% Reduced
HWKNHawkins Inc0.03%$1.8m12.9K−2.2% Reduced
TCBXThird Coast Bancshares, Inc.0.03%$1.7m43.3K−3.8% Reduced
PLTRPalantir Technologies Inc.0.03%$1.7m14.7K+10.0% Added
HOODRobinhood Markets0.03%$1.7m17.1K−96.2% Reduced
RPMRPM International Inc0.03%$1.7m14.9K0.0%
XMTRXometry, Inc.0.03%$1.6m16.9K−30.2% Reduced
MEDPMedpace Holdings, Inc.0.03%$1.6m2.9K−96.9% Reduced
AFLAflac0.03%$1.6m13.2K+3.0% Added
HHHHoward Hughes Holdings Inc.0.03%$1.5m21.5K−7.6% Reduced
CATCaterpillar Inc.0.03%$1.5m1.4K+9.5% Added
EXELExelixis, Inc.0.02%$1.4m25.9KNew
SPOTSpotify Technology S.a.0.02%$1.4m3.1K−97.4% Reduced
GEVGE Vernova0.02%$1.4m1.2K+14.3% Added
VPGVishay Precision Group, Inc.0.02%$1.3m8.8K−62.1% Reduced
FISFidelity National Information Services0.02%$1.3m33.4K−7.4% Reduced
UTIUniversal Technical Institute Inc0.02%$1.3m29.3K−2.4% Reduced
VZVerizon0.02%$1.2m29.0K−1.6% Reduced
AMDAdvanced Micro Devices0.02%$1.2m2.0K+28.3% Added
BCPCBalchem Corp0.02%$1.1m6.8K−3.2% Reduced
BFCBank First Corp0.02%$1.1m7.5KNew
MCDMcDonald's0.02%$1.1m4.0K−5.1% Reduced
UNPUnion Pacific Corporation0.02%$1.0m3.8K−24.2% Reduced
SFMSprouts Farmers Market, Inc.0.02%$1.0m12.0K−8.4% Reduced
BABoeing0.02%$994,4644.6K−4.2% Reduced
GNRCGenerac0.02%$968,3233.3K−6.9% Reduced
AMEAmetek0.02%$961,4704.0K−6.7% Reduced
STXSeagate Technology0.02%$948,735983−0.4%
INTCIntel0.02%$946,8356.8K−89.3% Reduced
MAMastercard0.02%$942,6251.8K−1.0% Reduced
ROKRockwell Automation0.02%$921,5701.9K+39.9% Added
PEPPepsiCo0.01%$873,4236.5K+2.5% Added
FDXFedEx0.01%$858,0422.7K+0.8% Added
KOThe Coca-Cola Company0.01%$853,80610.5K+6.8% Added
JCIJohnson Controls0.01%$810,3925.5K+57.9% Added
MELIMercadolibre Inc0.01%$789,286465−97.7% Reduced
LNTAlliant Energy0.01%$771,47610.1K+2.2% Added
MDLZMondelez International0.01%$747,95612.9K−1.0% Reduced
CVSCVS Health0.01%$710,3926.9K+5.7% Added
KMBKimberly-Clark0.01%$703,4006.4K+0.7% Added
CVNACarvana0.01%$700,52210.6K+405.8% Added
CAHCardinal Health0.01%$681,7972.9K+6.6% Added
BMOBank Of Montreal0.01%$677,8273.8K−2.3% Reduced
ADPAutomatic Data Processing0.01%$659,8792.9K+3.9% Added
AXPAmerican Express0.01%$637,5511.9K+0.1%
NFLXNetflix0.01%$634,6038.9K+0.9% Added
MRKMerck & Co.0.01%$621,5294.8K−4.9% Reduced
ITWIllinois Tool Works0.01%$620,7502.3K+2.9% Added
FFord Motor Company0.01%$612,18844.0K−9.4% Reduced
WFCWells Fargo0.01%$605,7647.3K−7.0% Reduced
FASTFastenal0.01%$601,33612.5K+1.0% Added
DHID. R. Horton0.01%$593,1603.6K−11.4% Reduced
WDAYWorkday, Inc.0.01%$590,7994.8KNew
CRMSalesforce0.01%$573,9653.7K−94.4% Reduced
DOVDover Corporation0.01%$552,3012.5K−1.0% Reduced
COINCoinbase0.01%$548,5053.8KNew
CompanyBought (value)Shares
DEDeere & Company$36.6m57.7K
TPLTexas Pacific Land Corporation$34.3m78.4K
PMPhilip Morris International$27.9m154.2K
UNHUnitedHealth Group$17.5m42.2K
FNVFranco Nevada Corp$13.8m66.4K
FWONKLiberty Media Corp$12.1m126.8K
ISRGIntuitive Surgical$9.8m24.8K
NEENextEra Energy$7.6m86.6K
HONHoneywell Technologies$6.3m28.1K
HONAHoneywell Aerospace$6.2m28.1K
MOAltria$3.3m45.2K
TRVThe Travelers Companies$2.9m8.8K
TOLToll Brothers, Inc.$2.4m14.8K
SOFISoFi Technologies, Inc.$2.0m109.5K
AEMAgnico Eagle Mines LTD$1.9m12.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
SPOTSpotify Technology S.a.−$51.9m−113.0K
MEDPMedpace Holdings, Inc.−$48.6m−91.7K
HOODRobinhood Markets−$44.0m−439.2K
ASMLAsml Holding NV−$36.6m−18.4K
MELIMercadolibre Inc−$33.7m−19.8K
NVDANVIDIA Corporation−$30.6m−152.9K
AMZNAmazon−$28.1m−117.8K
EXPEExpedia Group−$24.1m−94.3K
MRVLMarvell Technology−$10.6m−35.7K
CRMSalesforce−$9.6m−61.4K
GRBKGreen Brick Partners, Inc.−$9.0m−112.7K
MUMicron Technology−$8.7m−7.6K
INTCIntel−$7.9m−56.4K
MRSHMarsh McLennan−$7.1m−42.8K
AVGOBroadcom−$3.7m−9.8K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
DHRDanaher Corporation$3.0m15.9K
TRNSTranscat Inc$1.2m16.1K
CLSCelestica Inc$902,2213.2K
RBRKRubrik, Inc.$712,46514.5K
WLDNWilldan Group, Inc.$699,2999.1K
WINAWinmark Corp$610,8721.4K
INTUIntuit$543,0691.3K
BXBlackstone Inc.$499,2344.3K
WSTWest Pharmaceutical Services$379,5541.5K
ASBAssociated Banc-corp$296,38011.5K
CORCencora$283,668903
APAAPA Corporation$282,0146.6K
ATIATI Inc$256,4461.8K
VICIVici Properties$241,8918.9K
RITMRithm Capital Corp.$241,74025.5K
NLYAnnaly Capital Management Inc$227,55110.8K
ACNAccenture$218,5671.1K
FDUSFidus Investment Corp$217,66312.5K
PRUPrudential Financial$213,3052.2K
LMTLockheed Martin$211,144349
RCLRoyal Caribbean Group$208,262757
HTGCHercules Capital, Inc.$207,06414.0K
OLEDUniversal Display Corp \pa\$201,8732.2K
PFEPfizer$193,9516.9K
TRINTrinity Capital Inc.$179,85912.2K
  • Technology28.1%
  • Financials13.2%
  • Communication Services13.0%
  • Consumer Discretionary9.5%
  • Health Care8.9%
  • Industrials8.2%
  • Energy6.8%
  • Consumer Staples4.7%
  • Materials4.0%
  • Utilities3.4%
  • Real Estate0.1%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestJanuary 29, 2021 to November 2, 2026+13.7%+14.7%0.660.73−22.5%0.99
Last three yearsNovember 3, 2023 to November 2, 2026+20.4%+21.8%0.991.16−19.0%1.06
Last yearNovember 7, 2025 to November 2, 2026+8.8%+14.2%0.410.84−11.0%1.02

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.