Carnegie Investment Counsel

Key Holdings

The portfolio is heavily anchored in the "Magnificent Seven" and dominant financial incumbents. Microsoft (MSFT) is the largest holding, valued at $201.74 million (3.72% of the portfolio), followed closely by Alphabet (GOOGL) at $196.71 million and Apple (AAPL) at $186.40 million. Notably, Apple and Microsoft were new positions this quarter, signaling a strategic pivot toward mega-cap technology stability.

Beyond technology, the portfolio demonstrates strong conviction in financial quality. JPMorgan Chase (JPM) sits as the fourth-largest holding at $135.06 million, while Berkshire Hathaway (BRK/B) and Mastercard (MA) also feature prominently in the top ten. The inclusion of NVIDIA (NVDA) and Broadcom (AVGO) further cements a pro-technology stance. Interestingly, the firm holds Reddit (RDDT) at position 37, valued at $37.91 million, showing a willingness to allocate capital to high-growth, newer listings alongside established giants.