Baugh & Associates, LLC

The portfolio now consists of 41 holdings. Unlike many institutional managers that concentrate capital heavily in a handful of convictions, Baugh & Associates has constructed a relatively balanced portfolio. The largest position, Microsoft, constitutes 8.73% of the total assets, indicating a "core holding" strategy rather than a high-conviction, concentrated bet. The diversification extends across eight distinct sectors, with no single sector exceeding 23% of the total portfolio value, suggesting a risk-managed approach aimed at broad market exposure combined with specific sector tilts.

2. Key Holdings

The top of the book is dominated by high-quality, large-cap "Blue Chip" securities, signaling a focus on liquidity and stability.

• Technology Leaders: Microsoft (MSFT) and Apple (AAPL) are the top two holdings, comprising 8.73% and 7.73% of the portfolio, respectively. These positions represent $33.49 million in combined value, establishing a strong anchor in the technology sector.
• Financial Exposure: Morgan Stanley (MS) and JPMorgan Chase (JPM) hold the 3rd and 4th spots, respectively. With roughly $19.7 million combined, the firm shows significant confidence in the major money-center banks and investment banks.
• Consumer Defensive & Cyclical: Walmart (WMT) rounds out the top five at 4.68%. The inclusion of Home Depot (HD) and Lowe’s (LOW) further down the list indicates a barbell approach to the consumer sector—balancing non-discretionary retail with housing-driven cyclical exposure.