Columbia Asset Management

Key Holdings

The portfolio is heavily anchored in "Blue Chip" mega-cap technology and quality large-cap stocks.

• Top Heavyweights: Apple Inc. (AAPL) and Microsoft Corp. (MSFT) dominate the portfolio, representing 9.65% and 7.75% of the total value, respectively. These two positions alone comprise nearly 17.4% of the entire fund.
• Concentration: The top five holdings—AAPL, MSFT, GOOGL, Erie Indemnity, and AMZN—account for 28.8% of the portfolio.
• Notable Position: Erie Indemnity Co. is a standout position, ranking as the 4th largest holding at 3.66%. This is a high-conviction position in a specialized insurance/financial services firm, contrasting with the general mega-cap trend.
• ETF Allocation: The manager utilizes ETFs for approximately 4.2% of the portfolio, with the SPDR S&P 500 ETF (SPY) being the largest at 1.68%.

Sector Allocation

The sector breakdown reveals a strong tilt toward Technology, which commands the largest allocation at $158.64M (28.2%). This is driven by heavy exposure to semiconductors (NVDA, AVGO), software (MSFT), and hardware/consumer electronics (AAPL).