WATERSHED PRIVATE WEALTH LLC

The portfolio consists of 115 holdings, demonstrating a high degree of diversification. The investment strategy appears to have shifted from a potentially more active or concentrated approach to a highly systematic, Core-Satellite architecture. The "Core" is dominated by broad market and factor-based ETFs, while the "Satellite" positions are concentrated in high-growth individual technology names. The heavy reliance on ETFs (over 60% of the top 50 holdings) suggests a focus on cost efficiency, broad market exposure, and risk management through diversification.

2. Key Holdings

The portfolio is anchored by large-scale liquid ETFs, with individual equities playing a secondary but strategic role.