PBTP vs NCLO overlap

PBTP and NCLO overlap 0.0% by weight, across 0 shared holdings.

PBTPNCLO

Pick 2 to 4 ETFs.

0.0%

overlap by weight, across 0 shared holdings

PBTP0.0% of the fund is in shared holdings, of 24

NCLO0.0% of the fund is in shared holdings, of 107

Top shared holdings

These funds hold nothing in common.

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: PBTP, SEC Form N-PORT, July 31, 2026; NCLO, SEC Form N-PORT, July 31, 2026.

institutions report holding both, of 40 holding any

PBTP0.1% of its 13F dollars, 7.1% of its 28 holders

NCLO25.6% of its 13F dollars, 14.3% of its 14 holders

Largest institutions holding both

Firm	PBTP	NCLO
Arax Advisory Partners	$3K	$11.9M
Royal Bank of Canada	$41K	$569K

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: PBTP institutional holders, NCLO institutional holders.

Frequently asked questions

How much do PBTP and NCLO overlap?

0.0% by weight, with 0 holdings in common, using holdings for PBTP as of July 31, 2026 and NCLO as of July 31, 2026.

Do institutions hold both PBTP and NCLO?

2 Form 13F filers report positions in both, out of 40 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%.