Institutional Manager · CIK 0001586767

Arax Advisory Partners

DENVER, CO · File #028-17856

Latest AUM

$3.44B

Positions

4,078

Top-10 Concentration

37.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	VANGUARD INDEX FDS	922908736	+250,815	+$122.4M	$0
NEW	VANGUARD INDEX FDS	922908744	+487,674	+$93.1M	$0
REDUCE	INVESCO QQQ TR	IVZ	-147,549	-$90.6M	+$3.5M
REDUCE	VANGUARD INDEX FDS	922908363	-132,317	-$83.0M	+$53.7M
REDUCE	APPLE INC	AAPL	-268,906	-$73.1M	+$10.0M
REDUCE	SCHWAB STRATEGIC TR	808524102	-2,731,504	-$71.6M	-$2.1M
NEW	SPDR S&P 500 ETF TR	SPY	+86,355	+$58.9M	$0
NEW	VANGUARD INDEX FDS	922908769	+169,215	+$56.7M	$0
NEW	VANGUARD INDEX FDS	922908629	+179,194	+$52.0M	$0
NEW	AMERICAN CENTY ETF TR	025072349	+648,280	+$49.1M	$0

Sector Allocation

Technology

8.2%$280.5M

Financials

6.5%$225.0M

Healthcare

3.5%$120.6M

Consumer Discretionary

2.6%$90.8M

Industrials

2.1%$73.9M

Communication Services

1.1%$37.2M

0.9%$31.8M

0.9%$30.5M

0.8%$26.2M

0.5%$16.4M

0.2%$8.1M

Filing History

Feb 13, 202613F HOLDINGS REPORTQ/E Dec 20254,078 pos · $3.44B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 20254,358 pos · $6.97B
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 20253,035 pos · $2.18B
May 15, 202513F HOLDINGS REPORTQ/E Mar 20253,368 pos · $1.56B
Feb 5, 202513F HOLDINGS REPORTQ/E Dec 20242,415 pos · $1.59B
Nov 6, 202413F HOLDINGS REPORTQ/E Sep 20243,247 pos · $1.12B
Aug 6, 202413F HOLDINGS REPORTQ/E Jun 20243,158 pos · $1.03B
May 14, 202413F HOLDINGS REPORTQ/E Mar 20241,843 pos · $948.1M
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20231,775 pos · $802.9M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908736	250,815	$122.4M	6.70%
2	VANGUARD INDEX FDS	922908744	487,674	$93.1M	5.10%
3	APPLE INC	AAPL	311,700	$84.7M	4.64%
4	INVESCO QQQ TR	IVZ	101,875	$62.6M	3.43%
5	SPDR S&P 500 ETF TR	SPY	86,355	$58.9M	3.22%
6	VANGUARD INDEX FDS	922908769	169,215	$56.7M	3.11%
7	NVIDIA CORPORATION	NVDA	299,895	$55.9M	3.06%
8	ELDRIDGE BBB-B CLO ETF	81752T528	2,010,327	$53.2M	2.91%
9	VANGUARD INDEX FDS	922908629	179,194	$52.0M	2.85%
10	AMERICAN CENTY ETF TR	025072349	648,280	$49.1M	2.69%
11	ISHARES TR	464288646	919,529	$48.6M	2.66%
12	FIRST TR EXCHANGE TRADED FD	33738R506	685,811	$47.6M	2.61%
13	SCHWAB STRATEGIC TR	808524870	1,722,746	$45.6M	2.50%
14	ISHARES TR	464287226	456,545	$45.6M	2.50%
15	MICROSOFT CORP	MSFT	89,538	$43.3M	2.37%
16	FIRST TR EXCH TRADED FD III	33739E108	2,136,717	$38.9M	2.13%
17	VANGUARD TAX-MANAGED FDS	921943858	616,144	$38.5M	2.11%
18	AMAZON COM INC	AMZN	121,464	$35.8M	1.96%
19	ISHARES TR	464287242	300,048	$33.1M	1.81%
20	AMERICAN CENTY ETF TR	025072562	774,265	$32.5M	1.78%