BSW Wealth Partners

2. Key Holdings

The portfolio is dominated by large-cap core ETFs, which form the bedrock of the equity allocation.

• Top Position: The largest holding is iShares Core S&P 500 ETF (IVV), representing 15.03% of the total portfolio at $125.27M. This is a massive new position, indicating a strong commitment to U.S. large-cap equity exposure.
• Factor & Smart Beta Exposure: A notable theme in the top holdings is the use of American Century ETFs. AVDE (Dynamic International Equity) and AVUS (U.S. Quality) hold the 2nd and 3rd spots, accounting for 6.16% and 4.87% of the portfolio, respectively. This suggests a tilt toward "smart beta" strategies, specifically focusing on quality and dynamic factors.
• Fixed Income & Alternatives: The firm allocates significantly to fixed income and safe-haven assets within the top ten. VGIT (Intermediate-Term Treasury Bond) and VTEB (Tax-Exempt Bond) comprise 4.06% and 3.71% of the portfolio, respectively. Furthermore, IAU (Gold Trust) appears in the top 15 at 1.50%, serving as a diversification and inflation hedge.
• Individual Equities: Among individual stocks, Apple Inc. (AAPL) is the standout, ranked 8th overall with a 3.16% allocation ($26.32M). NVIDIA (NVDA) and Trimble Inc (TRMB) are the only other individual equities breaking the top 10, with TRMB being a surprisingly large position at 1.99%, indicating a specific sectoral or idiosyncratic bet on the healthcare/technology convergence.

3. Sector Allocation

The sector analysis reveals a distinct preference for broad market exposure via ETFs over stock-picking in specific sectors.

• ETF Dominance: The "ETF" category accounts for $501.86M, or approximately 60.2% of the total portfolio. This underscores the firm's reliance on fund managers and index tracking rather than active security selection for the majority of assets.
• Technology: Direct technology exposure totals $60.18M (7.2%), driven primarily by positions in Apple, NVIDIA, Broadcom, and Palantir. However, the actual technology exposure is likely much higher when accounting for the tech-heavy weights within the S&P 500 (IVV) and Growth ETFs.
• Defensive Sectors: The allocation to Financial Services ($18.71M) and Healthcare ($20.44M) provides a balance to the growth-oriented tech holdings. The inclusion of Consumer Defensive stocks like Procter & Gamble ($3.65M) further stabilizes the portfolio.
• Alternatives: The Unknown sector ($33.35M) likely includes alternative asset classes or structured products not fitting neatly into standard GICS sectors, while the Gold allocation (IAU) adds a layer of non-correlated asset protection.