Hobart Private Capital, LLC

That means the portfolio’s real risk is not hidden in one stock. It is in the mix of dividend, broad-market, bond, buffer, low-volatility, international, and thematic ETF sleeves. Direct mega-cap technology exists, but it is small relative to the ETF stack: Microsoft is only about 0.79%, Meta about 0.51%, and other single names sit even lower. RDVY, SPY, BND, SPYV, FVD, SPYG, BUFR, FTLS, and VCSH are the positions that define the filing.

The quarter’s changes show a clear reallocation inside that fund architecture. Hobart more than doubled VCSH shares, up 116.7%, and SPTI shares, up 108.3%, increasing short/intermediate fixed-income exposure. It also lifted AIRR shares 95.1%, SDVY shares 42.1%, SPY shares 10.9%, and DIAL shares 22.1%. New positions in FTGS, VEA, PAAA, and FGD added large-cap growth/strength, developed-market, AAA-style income, and dividend/global exposure.