Annex Advisory Services, LLC

Registered adviser

CIK

1542287

Location

BROOKFIELD, WI

Portfolio Value

Mid $5,909,300,824

Diversification

Diversified

Filing Date

Global Rank

#781 / 8,827 ▼ 22 · as of Jun 2026

Top Industry

Semiconductors 19.2%

Period ended 38 days ago

Filed Oct 16, 2026 · 22d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 127987

Roster of Nov 1, 2026

Regulatory AUM

$8,050,023,961

Main clients

Individuals and high net worth (93% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Feb 2026 to Nov 2026	$8,050,023,961	Individuals and high net worth (93%)
Dec 2025 to Jan 2026	$7,948,829,848	Individuals and high net worth (93%)
Aug 2025 to Sep 2025	$6,945,737,689	Individuals and high net worth (93%)
Apr 2025 to Jul 2025	$6,173,934,226	Individuals and high net worth (93%)
Jul 2024 to Mar 2025	$5,583,981,406	Individuals and high net worth (93%)
Feb 2024 to Jun 2024	$5,098,289,183	Individuals and high net worth (93%)

9 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 54.3%, 23.7 effective positions, active share 69.8% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

53.5% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 11.0 quarters, but 18.3% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 69.8%; sector active share 44.1% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

377 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

10.9%

+0.9 pts

Top 5

39.6%

−0.7 pts

Top 10

55.6%

+1.2 pts

HHI

436

Diversified+14

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	57.7%	$3,411,827,964	143
Technology	17.1%	$1,012,014,964	48
Financial Services	5.1%	$303,036,888	38
Healthcare	4.1%	$241,897,864	24
Communication Services	3.4%	$202,292,036	9
Consumer Cyclical	3.3%	$196,221,807	19
Energy	3.2%	$190,420,765	21
Basic Materials	2.2%	$129,042,585	10
Industrials	2.1%	$125,330,251	38
Consumer Defensive	1.3%	$75,255,892	15
Utilities	0.3%	$17,788,478	9
Real Estate	0.1%	$4,171,330	3

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NOK	Nokia Corp	+4,221,629	4,468,371	$45,309,281
ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	+1,303,769	1,307,243	$70,486,542
AGG	iShares Core U.S. Aggregate Bond ETF	+1,023,355	1,025,494	$96,950,202
IHAK	iShares Cybersecurity and Tech ETF	+550,315	1,026,597	$69,418,489
DFAI	Dimensional International Core Equity Market ETF	+458,596	4,587,286	$190,051,258
DFAU	Dimensional US Core Equity Market ETF	+417,699	4,776,681	$250,107,017
PBR	Petrobras - Petroleo Brasileiro SA	+406,268	2,589,233	$54,037,292
PYLD		+400,399	1,745,119	$44,308,571
DFIC	Dimensional International Core Equity 2 ETF	+307,378	2,969,717	$111,691,056
KSS	KOHLS Corp	+284,640	312,630	$5,771,149
LRGF	iShares U.S. Equity Factor ETF	+271,880	3,111,527	$242,232,376
GSIE	Goldman Sachs ActiveBeta(R) International Equity ETF	+248,673	6,435,532	$295,004,786
VPG	Vishay Precision Group, Inc.	+246,632	255,441	$18,580,778
TOL	Toll Brothers, Inc.	+214,438	275,100	$37,069,725
MRVL	Marvell Technology, Inc.	+175,209	196,274	$51,857,553
AVUS	Avantis U.S. Equity ETF	+140,868	2,166,227	$277,472,016
DFAE	Dimensional Emerging Core Equity Market ETF	+137,038	2,404,967	$94,539,252
EMGF	iShares Emerging Markets Equity Factor ETF	+126,999	764,190	$54,670,152
AVEM	Avantis Emerging Markets Equity ETF	+124,809	1,673,730	$157,364,094
LRCX	Lam Research Corp	+112,156	113,371	$37,243,507
FNV	FRANCO NEVADA Corp	+101,837	262,442	$62,490,064
AMGN	Amgen Inc	+98,954	111,413	$46,961,693
AAPL	Apple Inc.	+91,508	545,415	$181,634,103
SMLF	iShares U.S. Small-Cap Equity Factor ETF	+76,869	702,146	$58,671,319
FPEI	First Trust Institutional Preferred Securities and Income ETF	+70,956	1,217,165	$22,444,522
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
UBND	VictoryShares Core Plus Bond ETF	−4,950,328	13,956,506	$288,271,631
PCY	Invesco Ltd.	−4,153,600	60,676	$0
BAB	Invesco Exchange-Traded Fund Trust II	−3,273,081	58,297	$1,474,914
VGLT	VANGUARD LONG-TERM TREASURY INDEX FUND	−1,562,662	62,706	$3,144,078
IAGG	iShares Core International Aggregate Bond ETF	−1,423,532	52,510	$2,583,492
SMTH	ALPS \| Smith Core Plus Bond ETF	−1,218,564	8,018,448	$196,772,713
AVDE	Avantis International Equity ETF	−858,721	645,827	$58,195,470
IHI	iShares U.S. Medical Devices ETF	−672,877	7,192	$367,870
NEE	Nextera Energy Inc	−665,542	45,467	$3,443,670
FWONK	Liberty Media Corp	−556,975	9,382	$866,896
RSPN	Victory Portfolios II	−514,621	13,845	$0
UBER	Uber Technologies, Inc	−510,619	14,632	$1,002,438
TKO	TKO Group Holdings, Inc.	−393,245	25,341	$4,554,284
ORLY	O Reilly Automotive Inc	−372,570	51,088	$4,363,426
GMED	Globus Medical Inc	−345,888	26,906	$2,015,259
LMAT	Lemaitre Vascular Inc	−226,849	21,404	$1,767,756
BBLU	EA Bridgeway Blue Chip ETF	−154,410	1,234,821	$21,127,787
VCTR	Victory Capital Holdings, Inc.	−115,362	466,622	$51,608,393
WMB	Williams Companies, Inc.	−92,868	36,210	$2,461,193
GRBK	Green Brick Partners, Inc.	−69,840	367,209	$24,276,186
MNST	Monster Beverage Corp	−58,581	30,304	$1,261,252
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	−45,216	300,583	$16,517,035
EXPE	Expedia Group, Inc.	−41,041	95,708	$25,205,658
GSY	Invesco Ultra Short Duration ETF	−40,638	60,099	$3,000,743
ADI	Analog Devices Inc	−35,710	201,070	$79,766,479
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
JCPB	JPMorgan Core Plus Bond ETF	5,008,101	$224,262,762
AVLV	Avantis U.S. Large Cap Value ETF	712,657	$64,452,699
STM	STMicroelectronics N.V.	728,578	$38,876,922
XSD	State Street(R) SPDR(R) S&P(R) Semiconductor ETF	67,040	$35,505,724
INTU	Intuit Inc.	59,519	$16,409,983
SMCI	Super Micro Computer, Inc.	250,344	$10,281,628
SGOV	iShares 0-3 Month Treasury Bond ETF	16,373	$1,648,433
DLO	dLocal Ltd	110,104	$1,515,031
FOUR	Shift4 Payments, Inc.	41,467	$1,499,861
TMDX	TransMedics Group, Inc.	17,734	$1,479,902
ACWI	iShares MSCI ACWI ETF	8,338	$1,323,824
CINF	Cincinnati Financial Corp	6,542	$1,042,598
DVN	Devon Energy Corp	19,796	$911,407
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	12,897	$904,724
BNDX	Vanguard Total International Bond ETF	15,088	$707,174
ZM	Zoom Communications, Inc.	6,299	$571,760
SPCX	Space Exploration Technologies Corp	3,691	$556,824
LMND	Lemonade, Inc.	11,578	$522,630
ENPH	Enphase Energy, Inc.	15,016	$495,377
STLD	Steel Dynamics Inc	2,024	$448,538
IWV	iShares Russell 3000 ETF	1,031	$445,041
MCK	Mckesson Corp	402	$343,231
COR	Cencora, Inc.	1,097	$329,374
IWR	iShares Russell Mid-Cap ETF	3,072	$327,813
MAGS	Roundhill Magnificent Seven ETF	4,342	$311,277
No positions match the current search.

Sold Out

Positions the filer fully exited

20 positions

Ticker	Company	Shares	Value
BIPC	Brookfield Infrastructure Corp	125,623	$4,836,485
SPOT	Spotify Technology S.A.	3,070	$1,409,529
UTI	Universal Technical Institute Inc	29,257	$1,251,321
FALN	iShares Fallen Angels USD Bond ETF	27,476	$748,446
JAAA	Janus Henderson AAA CLO ETF	14,769	$745,686
COIN	Coinbase Global, Inc.	3,752	$548,504
NI	Nisource Inc.	8,479	$403,176
GEM	Goldman Sachs ActiveBeta(R) Emerging Markets Equity ETF	6,939	$360,828
MBB	iShares MBS ETF	2,685	$253,786
PZA	Invesco National AMT-Free Municipal Bond ETF	10,517	$247,359
JSI	Janus Henderson Securitized Income ETF	4,663	$238,792
EIX	Edison International	3,203	$238,463
APP	AppLovin Corp	450	$231,853
DGRO	iShares Core Dividend Growth ETF	2,994	$226,915
SPXC	SPX Technologies, Inc.	914	$224,085
CSL	Carlisle Companies Inc	599	$217,287
TJX	Tjx Companies Inc	1,401	$212,251
VIS	VANGUARD INDUSTRIALS INDEX FUND	569	$205,056
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	4,014	$203,028
AGNC	AGNC Investment Corp.	12,838	$139,934
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

377 tracked positions · $5,909,300,824 total · filing declares 377 positions · $6,107,815,512 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 377 positions by value · page 1 of 8

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GSIE	Goldman Sachs ActiveBeta(R) International Equity ETF	Added	6,435,532	+248,673	$295,004,786	+4.3%	4.99%
UBND	VictoryShares Core Plus Bond ETF	Reduced	13,956,506	-4,950,328	$288,271,631	−29.8%	4.88%
AVUS	Avantis U.S. Equity ETF	Added	2,166,227	+140,868	$277,472,016	+7.0%	4.70%
DFAU	Dimensional US Core Equity Market ETF	Added	4,776,681	+417,699	$250,107,017	+11.0%	4.23%
LRGF	iShares U.S. Equity Factor ETF	Added	3,111,527	+271,880	$242,232,376	+12.8%	4.10%
JCPB	JPMorgan Core Plus Bond ETF	NEW	5,008,101	NEW	$224,262,762	NEW	3.80%
SMTH	ALPS \| Smith Core Plus Bond ETF	Reduced	8,018,448	-1,218,564	$196,772,713	−17.2%	3.33%
DFAI	Dimensional International Core Equity Market ETF	Added	4,587,286	+458,596	$190,051,258	+11.6%	3.22%
AAPL	Apple Inc. Technology	Added	545,415	+91,508	$181,634,103	+38.3%	3.07%
AVEM	Avantis Emerging Markets Equity ETF	Added	1,673,730	+124,809	$157,364,094	+5.3%	2.66%
NVDA	Nvidia Corp Technology	Added	668,848	+11,950	$152,751,506	+16.2%	2.58%
MSFT	Microsoft Corp Technology	Added	242,727	+7,381	$124,494,678	+41.8%	2.11%
DFIC	Dimensional International Core Equity 2 ETF	Added	2,969,717	+307,378	$111,691,056	+12.6%	1.89%
GOOGL	Alphabet Inc. Communication Services	Added	319,116	+53,401	$109,801,433	+15.6%	1.86%
AGG	iShares Core U.S. Aggregate Bond ETF	Added	1,025,494	+1,023,355	$96,950,202	+45692.1%	1.64%
DFAE	Dimensional Emerging Core Equity Market ETF	Added	2,404,967	+137,038	$94,539,252	+3.7%	1.60%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	344,081	-10,899	$85,727,781	+1.3%	1.45%
V	Visa Inc. Financial Services	Reduced	222,827	-6,120	$80,068,425	+1.9%	1.35%
ADI	Analog Devices Inc Technology	Reduced	201,070	-35,710	$79,766,479	−15.2%	1.35%
META	Meta Platforms, Inc. Communication Services	Reduced	106,722	-3,450	$77,392,659	+24.7%	1.31%
AVGO	Broadcom Inc. Technology	Reduced	209,965	-5,475	$73,737,608	−9.4%	1.25%
ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Added	1,307,243	+1,303,769	$70,486,542	+31553.3%	1.19%
IHAK	iShares Cybersecurity and Tech ETF	Added	1,026,597	+550,315	$69,418,489	+140.1%	1.17%
AVLV	Avantis U.S. Large Cap Value ETF	NEW	712,657	NEW	$64,452,699	NEW	1.09%
FNV	FRANCO NEVADA Corp Basic Materials	Added	262,442	+101,837	$62,490,064	+86.7%	1.06%
MS	Morgan Stanley Financial Services	Reduced	329,367	-6,373	$61,947,345	−11.7%	1.05%
XHB	State Street(R) SPDR(R) S&P(R) Homebuilders ETF	Added	622,371	+48,598	$59,766,287	−9.9%	1.01%
SMLF	iShares U.S. Small-Cap Equity Factor ETF	Added	702,146	+76,869	$58,671,319	+5.3%	0.99%
AVDE	Avantis International Equity ETF	Reduced	645,827	-858,721	$58,195,470	−56.6%	0.98%
EMGF	iShares Emerging Markets Equity Factor ETF	Added	764,190	+126,999	$54,670,152	+17.1%	0.93%
PBR	Petrobras - Petroleo Brasileiro SA Energy	Added	2,589,233	+406,268	$54,037,292	+53.2%	0.91%
MU	Micron Technology Inc Technology	Added	50,382	+45,078	$53,662,372	+776.5%	0.91%
FCX	Freeport-Mcmoran Inc Basic Materials	Reduced	745,957	-10,287	$52,216,990	+9.8%	0.88%
MRVL	Marvell Technology, Inc. Technology	Added	196,274	+175,209	$51,857,553	+726.4%	0.88%
VCTR	Victory Capital Holdings, Inc. Financial Services	Reduced	466,622	-115,362	$51,608,393	+5.5%	0.87%
TPL	Texas Pacific Land Corp Energy	Added	157,540	+4,076	$51,331,258	−23.6%	0.87%
PM	Philip Morris International Inc. Consumer Defensive	Added	261,500	+5,004	$49,899,430	+7.5%	0.84%
AMGN	Amgen Inc Healthcare	Added	111,413	+98,954	$46,961,693	+940.9%	0.79%
NOK	Nokia Corp Technology	Added	4,468,371	+4,221,629	$45,309,281	+1282.8%	0.77%
ASML	Asml Holding NV Technology	Added	24,888	+200	$45,088,842	−8.2%	0.76%
PYLD		Added	1,745,119	+400,399	$44,308,571	+24.2%	0.75%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	117,379	-1,024	$43,927,916	+0.3%	0.74%
CVX	Chevron Corp Energy	Added	212,496	+70,295	$43,393,808	+84.1%	0.73%
UNH	Unitedhealth Group Inc Healthcare	Added	116,856	+48,279	$42,895,500	+50.5%	0.73%
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	Added	266,485	+11,723	$42,019,354	+4.2%	0.71%
DE	Deere & Co Industrials	Added	59,109	+890	$39,694,648	+7.5%	0.67%
BAC	Bank Of America Corp Financial Services	Reduced	725,751	-10,670	$39,502,626	−5.9%	0.67%
STM	STMicroelectronics N.V. Technology	NEW	728,578	NEW	$38,876,922	NEW	0.66%
LLY	ELI LILLY & Co Healthcare	Added	33,181	+29,346	$38,393,071	+734.7%	0.65%
VRT	Vertiv Holdings Co Industrials	Added	157,247	+24,496	$37,945,273	−14.6%	0.64%

Showing the top 50 of 377 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.