LRNZ vs ICAP overlap

LRNZ and ICAP overlap 7.2% by weight, across 5 shared holdings.

LRNZICAP

Pick 2 to 4 ETFs.

7.2%

overlap by weight, across 5 shared holdings

LRNZ18.5% of the fund is in shared holdings, of 24

ICAP7.2% of the fund is in shared holdings, of 83

Top shared holdings

Holding	LRNZ	ICAP	Overlap
Broadcom Inc.AVGO	4.21%	2.72%	2.72%
ADV Micro DeviceAMD	4.35%	2.05%	2.05%
Nvidia Corp.NVDA	3.64%	1.39%	1.39%
ELI Lilly & CoLLY	1.98%	1.07%	1.07%
Micron TechMU	4.32%	0.01%	0.01%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: LRNZ, SEC Form N-PORT, June 30, 2026; ICAP, SEC Form N-PORT, May 31, 2026.

institutions report holding both, of 45 holding any

LRNZ5.1% of its 13F dollars, 10.3% of its 29 holders

ICAP10.7% of its 13F dollars, 15.8% of its 19 holders

Largest institutions holding both

Firm	LRNZ	ICAP
Osaic Holdings, Inc.	$273K	$592K
Morgan Stanley	$32K	$202K
Signaturefd, LLC	$128K	$2K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: LRNZ institutional holders, ICAP institutional holders.

Frequently asked questions

How much do LRNZ and ICAP overlap?

7.2% by weight, with 5 holdings in common, using holdings for LRNZ as of June 30, 2026 and ICAP as of May 31, 2026. The largest shared position is AVGO.

Do institutions hold both LRNZ and ICAP?

3 Form 13F filers report positions in both, out of 45 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.