Beaumont Asset Management, L.L.C.

Key Holdings

The portfolio is heavily concentrated at the top, with the first position comprising nearly a third of the total assets.

• Core Exposure: The iShares Core S&P 500 ETF (IVV) is the dominant holding, valued at $60.02M and representing 29.99% of the portfolio. This was a new position this quarter, indicating a strategic decision to anchor the portfolio in large-cap U.S. equity performance.
• Strategic Factor Tilts: The second largest holding is the Van Vectors ETF Trust (MOAT) at $22.23M (11.11%). This focus on companies with wide economic moats suggests a defensive quality bias within the equity selection.
• Top Individual Equities: The largest active stock positions are in the "Magnificent Seven" and major tech giants. Alphabet (GOOGL) holds 4.58% of the portfolio, followed closely by Microsoft (MSFT) at 4.35%. Despite being major tech names, these positions are surprisingly smaller than the MOAT allocation, highlighting the manager's reliance on the MOAT ETF for tech exposure.
• Significant Cash Flow Holdings: Amazon (AMZN) and Broadcom (AVGO) are the other notable individual tech holdings, while BlackRock (BLK) and Walmart (WMT) represent major positions in the financial and consumer defensive sectors, respectively.