VALICENTI ADVISORY SERVICES INC

2. Key Holdings

The portfolio is characterized by a "core-and-satellite" structure, with heavy weighting in mega-cap technology stocks supported by exchange-traded funds (ETFs) and select defensive plays.

• Top Concentrations: The largest holding is the SCHWAB US LARGE-CAP ETF (SCHX), accounting for 7.50% of the portfolio ($35.84K). This suggests a reliance on passive broad-market exposure as a foundation. This is followed closely by the "Magnificent Seven" tech giants: Apple Inc (6.27%), Amazon.com Inc (5.63%), Microsoft Corp (5.42%), and Alphabet Inc Class A (5.19%). Collectively, these top five positions represent roughly 30% of the total assets.
• Financials and Industrials: J.P. Morgan Chase & Co holds a significant position at 3.61%, while Raytheon Technologies Corp represents 2.91%, indicating a tilt toward financial stability and defense/aerospace.
• Position Sizing: The portfolio is relatively evenly distributed outside of the top tier. The largest position is only 7.5%, and positions drop below 1% by the 29th rank (Costco). This avoids idiosyncratic risk associated with concentrated bets.