Circle Wealth Management, LLC

Circle Wealth Management's Q1 2026 13F is a $7.02B (up from $6.49B, +8.1%) 265-position core-plus-sleeve portfolio with Apple (AAPL) at a massive 43.2% ($3.03B, +25.9% shares, +$471M) as the portfolio's defining anchor -- by itself larger than every other position combined. The ETF core (IVV 10.1%, IWF 8.3%, SPY 7.7%, IJH 4.4%, IJR 4.1%, VOO 2.4%, IWD 2.0%, VTI 1.2%, SCHB 0.9%, VGT 0.4%, ACWI 0.4%, FEZ 0.2%, VB 0.4%, VIG 0.2%, VEU 0.2%, GLD 0.2%, EWY 0.1%, EMXC 0.1%, plus XLP/XLV select sectors, EPI India) totals approximately $5.04B or 71.7% of the portfolio -- a dramatically ETF-heavy structure. Only three single-stock positions exceed 1%: Apple at 43.2%, Eli Lilly (LLY) at 1.13%, and Amazon (AMZN) at 0.84%. The Q1 2026 activity: 27 increased, 7 decreased, 13 unchanged, 3 new opens, 3 sold, 53 total changes -- moderate turnover for a 265-position book. Key additions: Goldman Sachs Industrials ETF (GIND) was increased 87.8% to $43.3M; iShares Korea EWY was a new $9.4M opening; iShares EMXC (emerging-markets ex-China) was a new $6.3M opening. Key exits: Taiwan Semiconductor (TSM, $5.0M, SOLD), Oracle (ORCL, $4.9M, SOLD), Akre ($4.8M, SOLD) -- all tiny positions. Apple's +25.9% share increase to 12.3M shares and the broad ETF rebalancing (IVV +25.9%, SPY slight trim, IWF unchanged, VOO +2.3%, VB +34.3%, FEZ +70.5%) are the quarter's signature moves. The AUM increase from $6.49B to $7.02B reflects mark-to-market on Apple and the SPY family. The 76.00 whaleScore on $7.02B reflects AUM. The portfolio's identity is a passive-core-dominant sleeves-and-overlay structure: the ETF core handles beta, single-stock sleeves handle factor and thematic exposure (healthcare LLY, consumer AMZN/SBUX/NKE, financials JPM/GS, technology select names), and the EM/specialty sleeve handles satellite exposure. The Q1 2026 delta is best read as: Circle Wealth Management executed a gentle rebalancing in Q1 2026 -- Apple was aggressively increased (+25.9%, now 43.2%), the ETF core was expanded (especially IVV +25.9%, VB +34.3%, FEZ +70.5%) to capture equity-market appreciation, three tiny legacy positions were exited (TSM, ORCL, Akre), and three new satellite opens (GIND, EWY, EMXC) added sectoral and geographic diversification. The post-Q1 $7.02B book is even more ETF-dominant and Apple-concentrated than Q4, with minimal single-stock conviction outside Apple.