MONEY CONCEPTS CAPITAL CORP

The same logic runs through the growth sleeve. The Magnificent Seven ETF (MAGS) was cut 44.6% by share count, from $77.9M to $37.9M. The $42.5M Nasdaq-100 position (QQQ) was sold outright, along with direct stakes in Palantir ($9.3M) and Cadence Design ($8.3M). Yet the proceeds did not leave large-cap growth — $69.5M went into the Invesco S&P 500 Momentum ETF (SPMO), now the No. 2 position at 3.8%. Read together, the firm is unwinding named mega-cap tech bets and re-delegating that exposure to a rules-based momentum screen: whatever tech weight survives is now conditional on the factor, not on conviction in specific companies. The direct holdings that remain — Apple (2.0%), Microsoft (1.1%), Nvidia (1.0%) — were left essentially untouched by share count even as their dollar values fell, meaning the shrinking tech sleeve was the market's doing, not the manager's.

The third movement is breadth and ballast. Three sector SPDRs appeared from nothing — industrials (XLI, $31.5M), health care (XLV, $30.5M), and financials (XLF, $27.0M) — alongside a 28% share-count add to consumer staples (XLP) and an 18% add to the equal-weight S&P 500 (RSP, now 1.5%). Cash-adjacent sleeves were opened outright: $13.8M in 1-3 year Treasuries (SHY), $11.5M in 0-3 month bills (SGOV), and $9.6M in the ProShares Dividend Aristocrats fund (NOBL), while the Sprott physical gold trust (PHYS) grew 10%. Every one of these is a de-concentration trade — away from cap-weight, toward equal-weight, defensives, and duration-free yield.