New Age Alpha Advisors, LLC

Rotation, not conviction, drives New Age Alpha Advisors' Q1 2026 filing — a $2.1 billion book spread across 766 positions. The quarter's single largest dollar swing wasn't a mega-cap trim but an 81% share cut in Taiwan Semiconductor, taking a $49 million stake down to $10 million and erasing roughly $44.3 million in share-flow value — the biggest move in either direction this quarter. At the same time, the fund liquidated its entire $17.5 million SPDR Bloomberg 1-3 Month T-Bill ETF position (cash parked as of Q4) and used the freed capital to open new stakes in Chevron ($18.6M), GE Vernova ($16.1M), Intel ($10.4M), RTX ($9.7M) and Caterpillar ($9.2M), while fully exiting Procter & Gamble, Toyota, Coca-Cola, UnitedHealth and Eli Lilly. Apple (3.2%), Nvidia (2.7%) and Microsoft (2.1%) still anchor the book, but no single name tops 3.2% of assets — this reads less like a high-conviction stock picker and more like a systematically rebalanced portfolio rotating cash and semiconductor exposure into energy, industrials and defense.