Baker Avenue Asset Management, LP

Key Holdings

The top 10 holdings account for approximately 28.5% of the total portfolio value, indicating a moderate level of concentration at the top despite the high number of total holdings.

• Technology Dominance: The largest individual equity positions are heavily skewed toward the "Magnificent Seven" and AI leaders. NVIDIA (NVDA) is the top holding, valued at $220.49 million (5.27% of the portfolio), followed closely by Apple (AAPL) at $207.37 million (4.96%). Microsoft (MSFT) holds the fourth spot at $150.25 million (3.59%).
• Industrial Outlier: A notable deviation from the tech-centric theme is Simpson Manufacturing Co. (SSD), which occupies the third position with a value of $182.69 million (4.37%). This represents a significant industrial bet, likely reflecting a thesis on housing or construction materials.
• ETF Core: Positions 5 through 13 are dominated by broad-market ETFs, including VB (Vanguard Small-Cap), IWF (iShares Russell 1000 Growth), IVV (iShares Core S&P 500), and fixed income funds like BND and AGG. This suggests the manager uses these vehicles for liquidity and broad market exposure rather than active selection in those specific areas.