Stonebridge Wealth Management, LLC

The turnover for the quarter was notable, characterized by a significant "churn" in existing positions rather than aggressive net buying. The activity summary indicates 21 positions were reduced, 10 new positions were initiated, and only 1 position was completely sold. This pattern suggests a portfolio rebalancing act, where capital was rotated out of existing holdings and into new opportunities, likely to adjust risk profiles or sector exposures in response to market conditions at the end of 2025.

2. Key Holdings