Joel Adams & Associates, Inc.

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CIK 2020459

13F portfolio (2026-Q1)

$135M

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

50.5%

Top 10

69.4%

Effective N

14.9

HHI

0.067

This quarter

3 new · 0 exit →

By sector

Unclassified94.4%

Information Technology1.6%

Consumer Discretionary1.1%

Health Care1.1%

Financials0.9%

Communication Services0.4%

Utilities0.4%

By market cap

Unknown94.4%

Mega (>$200B)4.7%

Large ($10–200B)0.9%

By region

Other94.4%

North America5.6%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	94.94%	50
Pharmaceuticals & Biotechnology	1.10%	2
Technology Hardware & Equipment	1.01%	1
Specialty Retail	0.95%	4
Banks	0.41%	1
Software	0.41%	1
Software & IT Services	0.39%	1
Utilities	0.39%	2
Semiconductors & Semiconductor Equipment	0.21%	1
Hotels, Restaurants & Leisure	0.20%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VOO	VANGUARD INDEX FDS	Unclassified	14.51%
2	AGG	ISHARES TR	Unclassified	13.51%
3	EAGG	ISHARES TR	Unclassified	7.88%
4	VSGX	VANGUARD WORLD FD	Unclassified	7.60%
5	VTEB	VANGUARD MUN BD FDS	Unclassified	7.01%
6	CVLC	MORGAN STANLEY ETF TRUST	Unclassified	5.81%
7	IEFA	ISHARES TR	Unclassified	3.83%
8	MINT	PIMCO ETF TR	Unclassified	3.71%
9	VXUS	VANGUARD STAR FDS	Unclassified	3.26%
10	IJH	ISHARES TR	Unclassified	2.30%

15/64 names classified · sector 5.6% of weight · industry 5.1% · mkt cap 5.6%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 6 quarters

Information TechnologyAAPL, MSFT, NVDA

FinancialsBRK.B, JPM, RJF, AB

Consumer DiscretionaryROST, COST, AMZN, HD, MCD

Health CareLLY, JNJ

UtilitiesDUK, SO, NEE

Communication ServicesGOOGL, GOOG

MaterialsKMB, PG

UnclassifiedVOO, AGG, EAGG, VTEB, VSGX · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 5.6% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 5% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (14 classified)Joel Adams & Associates, Inc. centroid (Large Core)

Information TechnologyConsumer DiscretionaryHealth CareFinancialsCommunication ServicesUtilities

Style box summary for Joel Adams & Associates, Inc.: centroid Large Core. Heaviest cells: Large Growth 3.5%, Large Core 1.0%, Large Value 0.6%.

Classified: 5.1% of book weight (14/64 names) · unclassified 94.9%: VOO, AGG, EAGG, VSGX, VTEB, CVLC, IEFA, MINT, VXUS, IJH +40 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 64 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VOOVANGUARD INDEX FDS	32,695	$20M	14.5%	TRIM −4%
2	AGGISHARES TR	183,207	$18M	13.5%	TRIM −6%
3	EAGGISHARES TR	223,087	$11M	7.9%	HOLD
4	VSGXVANGUARD WORLD FD	142,619	$10M	7.6%	HOLD
5	VTEBVANGUARD MUN BD FDS	189,142	$9M	7.0%	ADD 26%
6	CVLCMORGAN STANLEY ETF TRUST	97,652	$8M	5.8%	ADD 19%
7	IEFAISHARES TR	57,022	$5M	3.8%	HOLD
8	MINTPIMCO ETF TR	49,649	$5M	3.7%	ADD 80%
9	VXUSVANGUARD STAR FDS	56,938	$4M	3.3%	HOLD
10	IJHISHARES TR	45,780	$3M	2.3%	TRIM −11%
11	MUBISHARES TR	26,206	$3M	2.1%	TRIM −3%
12	VOVANGUARD INDEX FDS	8,945	$3M	1.9%	HOLD
13	USHYISHARES TR	58,072	$2M	1.6%	ADD 6%
14	IEMGISHARES INC	28,638	$2M	1.5%	TRIM −11%
15	DFSUDIMENSIONAL ETF TRUST	47,597	$2M	1.5%	ADD 100%
16	IJRISHARES TR	15,543	$2M	1.4%	TRIM −7%
17	BNDVANGUARD BD INDEX FDS	24,201	$2M	1.3%	ADD 6%
18	CVMCMORGAN STANLEY ETF TRUST	25,728	$2M	1.2%	ADD 3%
19	VTIVANGUARD INDEX FDS	4,581	$1M	1.1%	ADD 7%
20	NEARISHARES U S ETF TR	27,410	$1M	1.0%	ADD 5%
21	AAPLAPPLE INC	5,349	$1M	1.0%	HOLD
22	ESGVVanguard ESG US Stock - ETF	10,202	$1M	0.9%	ADD 10%
23	LLYELI LILLY & CO	1,001	$920,690	0.7%	TRIM −12%
24	SUBISHARES TR	7,896	$840,924	0.6%	HOLD
25	IWDISHARES TR	3,293	$703,620	0.5%	HOLD
26	BRK.BBERKSHIRE HATHAWAY INC DEL	1,433	$686,694	0.5%	TRIM −3%
27	SDYSPDR SER TR	4,417	$644,611	0.5%	ADD 20%
28	IWFISHARES TR	1,473	$627,981	0.5%	HOLD
29	MTUMISHARES TR	2,544	$610,573	0.5%	TRIM −11%
30	QQQINVESCO QQQ TR	1,050	$606,039	0.5%	HOLD
31	USMVISHARES TR	6,463	$599,400	0.4%	ADD 20%
32	VEGNETF SER SOLUTIONS	10,503	$593,396	0.4%	HOLD
33	ACWXISHARES TR	8,646	$592,003	0.4%	HOLD
34	IVVISHARES TR	875	$571,612	0.4%	ADD 2%
35	JNJJOHNSON & JOHNSON	2,305	$563,434	0.4%	HOLD
36	JPMJPMORGAN CHASE & CO	1,899	$558,610	0.4%	HOLD
37	DFSIDIMENSIONAL ETF TRUST	13,031	$552,514	0.4%	ADD 59%
38	MSFTMICROSOFT CORP	1,474	$545,694	0.4%	HOLD
39	VUSBVANGUARD BD INDEX FDS	10,702	$532,801	0.4%	NEW
40	GOOGLALPHABET INC	1,823	$524,222	0.4%	TRIM −14%
41	SUSBISHARES TR	19,338	$484,712	0.4%	HOLD
42	SPYMSPDR SERIES TRUST	6,290	$481,403	0.4%	HOLD
43	HYMBSPDR SERIES TRUST	19,216	$476,564	0.4%	ADD 25%
44	ROSTROSS STORES INC	2,000	$433,260	0.3%	HOLD
45	IEFISHARES TR	4,423	$422,151	0.3%	TRIM −13%
46	VGITVANGUARD SCOTTSDALE FDS	7,003	$417,024	0.3%	HOLD
47	DFAXDIMENSIONAL ETF TRUST	11,288	$383,447	0.3%	TRIM −14%
48	VCEBVANGUARD WORLD FD	5,343	$335,687	0.2%	HOLD
49	COSTCOSTCO WHSL CORP NEW	326	$324,836	0.2%	HOLD
50	XLKSELECT SECTOR SPDR TR	2,402	$319,226	0.2%	TRIM −3%
51	BNDXVANGUARD CHARLOTTE FDS	6,189	$297,383	0.2%	ADD 14%
52	XJHISHARES TR	6,463	$293,239	0.2%	TRIM −22%
53	GOVTISHARES TR	12,715	$291,299	0.2%	HOLD
54	DUKDUKE ENERGY CORP NEW	2,189	$286,628	0.2%	HOLD
55	AMZNAMAZON COM INC	1,351	$281,373	0.2%	HOLD
56	ILCGISHARES TR	2,946	$281,304	0.2%	HOLD
57	NVDANVIDIA CORPORATION	1,590	$277,296	0.2%	HOLD
58	MCDMCDONALDS CORP	855	$265,725	0.2%	TRIM −2%
59	IWSISHARES TR	1,802	$262,575	0.2%	HOLD
60	NEENEXTERA ENERGY INC	2,540	$235,915	0.2%	HOLD
61	SPIBSPDR SERIES TRUST	6,989	$234,421	0.2%	NEW
62	HDHOME DEPOT INC	712	$234,170	0.2%	HOLD
63	DFSEDIMENSIONAL ETF TRUST	5,431	$230,110	0.2%	NEW
64	NUMVNUSHARES ETF TR	5,427	$210,417	0.2%	TRIM −26%

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

VOOVANGUARD INDEX FDS

36K

35K

33K

32K

34K

33K

$20M

AGGISHARES TR

150K

163K

169K

176K

195K

183K

$18M

EAGGISHARES TR

203K

202K

207K

221K

223K

$11M

VSGXVANGUARD WORLD FD

159K

155K

142K

139K

145K

143K

$10M

VTEBVANGUARD MUN BD FDS

222K

217K

194K

172K

150K

189K

$9M

CVLCMORGAN STANLEY ETF TRUST

—

54K

82K

98K

$8M

IEFAISHARES TR

60K

56K

54K

58K

57K

$5M

MINTPIMCO ETF TR

13K

28K

50K

$5M

VXUSVANGUARD STAR FDS

58K

52K

51K

56K

57K

$4M

IJHISHARES TR

53K

54K

55K

54K

51K

46K

$3M

MUBISHARES TR

31K

30K

24K

30K

27K

26K

$3M

VOVANGUARD INDEX FDS

10K

$3M

USHYISHARES TR

38K

42K

44K

47K

55K

58K

$2M

IEMGISHARES INC

35K

34K

33K

32K

29K

$2M

DFSUDIMENSIONAL ETF TRUST

23K

24K

48K

$2M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Joel Adams & Associates, Inc.