HARBOUR INVESTMENT MANAGEMENT LLC

The smallest detail that reveals Harbour Investment Management's Q1 2026 strategy is the increase list's length and contents: only three lines added shares, and all three are short-duration cash vehicles—Vanguard ultra-short bond VBIL (shares nearly tripled, ~$5.8 million of flow), Vanguard ultra-short bond VUSB (+48%, ~$3.4 million of flow), and JPMorgan ultra-short JPST (a small top-up). Meanwhile Microsoft was cut about 19% on shares, falling from 10.7% of the book to 6.8%, and thirty-five other positions were decreased across a $184 million, 101-name wealth portfolio.