Laird Norton Wetherby Trust Company, LLC

Broad index and bond ETFs bought, concentrated mega-cap tech trimmed — that single pattern runs through Laird Norton Wetherby Trust's $4.58 billion, 1,789-position book this quarter. Vanguard Large-Cap ETF (VV) more than tripled in shares (+237%, a genuine $41.1 million addition) — the single largest move in the book — while Vanguard Total Bond (BND) arrived as a brand-new $21.5 million position and iShares Global Infrastructure (IGF) grew 72% ($16.2 million). At the same time, Apple was cut 7% in shares (a real $17.8 million reduction), Microsoft fell 4.1% ($11.7 million), and Nvidia fell 5.6% ($11.1 million) — all three of the portfolio's largest individual holdings trimmed in the same quarter broad diversification was added. Penumbra, Oracle, Intuit, and Procter & Gamble were fully exited.