Annex Advisory Services Portfolio holdings

Annex Advisory Services's Q1 2015 Portfolio in Review

As of Q1 2015, Annex Advisory Services held 124 positions worth $311M, down 3.1% from $321M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Annex Advisory Services withdrew a net $16.3M in Q1 2015, closing 7 positions and reducing 27 holdings. Its most notable exit was Vanguard Real Estate ETF, an estimated $28.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 2% of assets, up from 1.5% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Annex Advisory Services opened a new position in 3M worth $375K.

• Annex Advisory Services's largest Q1 2015 buy was 3M: 2,720 shares worth $375K.
• Annex Advisory Services added most to State Street Consumer Discretionary Select Sector SPDR ETF in Q1 2015, an estimated $21.1M increase.
• Annex Advisory Services's biggest Q1 2015 reduction was Vanguard High Dividend Yield ETF, cutting an estimated $20.4M.
• Annex Advisory Services fully exited Vanguard Real Estate ETF in Q1 2015, selling an estimated $28.5M.
• Annex Advisory Services's ten largest holdings make up 79% of its $311M portfolio in Q1 2015.
• Annex Advisory Services opened 27 new positions and closed 7 in Q1 2015.
• Annex Advisory Services's portfolio value fell 3.1% quarter-over-quarter to $311M.

Based on Annex Advisory Services's 13F filing for Q1 2015, filed 12 May 2015.