Third View Private Wealth, LLC

Key Holdings

The portfolio is heavily anchored in the "Magnificent Seven" and dominant US technology giants, which dominate the top ranks.

• NVIDIA Corporation (NVDA) is the largest holding, valued at $46.21 million, representing 6.22% of the portfolio. This significant allocation suggests a strong conviction in the semiconductor and AI infrastructure space.
• Microsoft (MSFT) and Meta Platforms (META) follow as the second and third largest positions, at 4.06% and 3.74%, respectively.
• Amazon (AMZN) and Tesla (TSLA) also feature prominently in the top ten, alongside Alphabet (GOOGL/GOOG), which appears twice (Class A and Class C shares), aggregating to roughly 5.73% of the portfolio.
• Fixed Income Exposure: Notably, the iShares 20+ Year Treasury Bond ETF (TLT) is the fifth largest holding (3.64%). This is a distinct deviation from a pure equity growth strategy, suggesting the firm is actively managing duration risk or seeking income generation/yield enhancement alongside equity appreciation.
• ETF Utilization: The firm uses the SPDR S&P 500 ETF (SPY) and Vanguard Growth ETF (VUG) for beta exposure, comprising roughly 4.04% of the portfolio combined.

Sector Allocation

The portfolio displays a clear pro-cyclical tilt, heavily weighted toward sectors benefiting from economic expansion and technological innovation.

• Technology (21.7%): This is the dominant sector, totaling $161.13 million. The concentration here is not broad-based but focused on mega-cap leaders in software, semiconductors, and cloud computing.
• Communication Services (13.8%): Driven primarily by Meta, Alphabet, Netflix, and Disney, this sector represents the second-largest overweight.
• Consumer Cyclical (9.7%): Holdings such as Tesla, Amazon, Visa, Boeing, and Hilton provide exposure to consumer discretionary spending and economic momentum.
• ETFs (7.7%): The allocation to ETFs (TLT, SPY, VUG) suggests a use of liquid instruments for tactical asset allocation or to gain quick exposure to specific asset classes (long-duration bonds and large-cap growth).
• Defensive Sectors: Traditional defensive sectors like Healthcare (5.0%), Consumer Defensive (1.6%), and Utilities are present but represent smaller portions of the portfolio. The presence of Boeing (BA) at 1.69% and Vulcan Materials (VMC) introduces specific industrial and basic materials exposure.