FERGUSON WELLMAN CAPITAL MANAGEMENT, INC

The portfolio has shifted from what appears to have been a more concentrated or actively managed strategy to a core-satellite approach heavily weighted toward large-cap growth and blue-chip equities. The inclusion of major ETFs such as the iShares Core S&P 500 (IVV) suggests a portion of the new capital is being deployed in a passive, beta-seeking manner to capture broad market exposure, while a significant allocation is directed toward specific secular growth themes, particularly in technology.

2. Key Holdings

The top holdings list reflects a "barbell" strategy combining high-growth technology mega-caps with defensive stalwarts.