PALO ALTO WEALTH ADVISORS, LLC

Key Holdings

The portfolio is defined by an overwhelming conviction in Alphabet Inc. The combined position of GOOG ($117.19M) and GOOGL ($55.43M) represents nearly 60% of the entire fund. This level of concentration (approximately 40% in GOOG alone) is aggressive and indicates that the firm views Alphabet as significantly undervalued or possessing superior risk-reward characteristics relative to the broader market.

Beyond the Alphabet duopoly, the firm utilizes quality-focused ETFs to express market exposure. The iShares MSCI USA Quality Factor ETF (QUAL) is the third-largest holding at 8.43%, followed closely by the WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 7.24%. This implies a preference for high-quality balance sheets and profitability factors outside of the firm's specific stock picks.