Wealthcare Advisory Partners LLC

Key Holdings and Their Significance

• SPYM ($347.36M, 6.82%) and SPTM ($209.72M, 4.12%): These are the two largest allocations and together represent ~10.9% of the portfolio. Their size indicates core passive equity exposure is being implemented through targeted ETFs rather than solely through broad-market single-stock holdings.
• Core broad-market ETFs: VTI ($119.21M, 2.34%), SPY ($117.43M, 2.31%), VOO ($93.66M, 1.84%), IVV ($45.84M, 0.90%) — multiple broad U.S. market ETFs make up a substantial portion of the equity beta exposure and create overlap that materially affects actual sector and market-cap exposure.
• Fixed income ETFs and cash-equivalent bond exposures: STIP ($117.60M), IEF ($73.80M), SPAB ($72.05M), FBND ($69.26M), MUB ($57.14M), AGG ($38.58M), SCHP ($37.68M), etc. Aggregate of the identifiable bond/credit/short-term ETFs among the top 50 is ≈ $559M (~11.0% of the total portfolio). This demonstrates an allocation to duration and credit diversification within the ETF sleeve.
• Select individual large-cap equities: NVDA ($78.64M, 1.54%), AAPL ($72.65M, 1.43%), MSFT ($50.77M, 1.00%), AMZN ($26.69M, 0.52%), and newly added JPM ($22.56M, 0.44%). These positions complement the passive ETF exposure with direct exposures to major market-cap names.
• Dividend/value/income focus in parts of the portfolio: Holdings such as CGDV ($53.95M), VYM (new: $45.84M), COWZ ($34.19M), AVUV ($34.00M), VIG ($24.61M), SCHD (reduced), and MOAT ($22.14M) indicate a material allocation to dividend and value-oriented ETFs across the portfolio.

Sector Allocation and Observable Tilts

• On the filing’s labeled breakdown, ETFs dominate ($2.31B, 45.4%) and Technology is the largest named sector outside ETFs ($202.06M, 4.0%). Consumer Cyclical ($26.69M, 0.5%) and Financial Services ($22.56M, 0.44%) are modest by direct single-stock exposure.
• Important caveat: sector totals understate true economic exposure because the ETF sleeve contains diversified sector exposures (broad-market and sector/value ETFs). When ETF underlying holdings are considered, actual sector exposures (e.g., to Technology or Financials) are substantially higher than the direct single-stock sector allocations indicate.
• Fixed income and income-oriented ETFs are prominent: identified bond and short-duration ETFs (≈$559M among top 50) imply an allocation to interest-rate and credit exposure for diversification and income generation.