Baltimore-Washington Financial Advisors portfolio

What changed this quarter

153 positions with a change (22 new, 72 added to, 54 trimmed, 5 sold); also, 1 entered through an IPO, 1 entered through a spin-off. 8 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Invesco S&P 500 Momentum ETF+1.6 ppof portfolioNew
  — → 1.6%
• Invesco Exchange Traded Fund T+1.6 ppof portfolioNew
  — → 1.6%
• SPDR US LC Low Vol Idx ETF−73%fewer sharesReduced
  2.3% → 0.6%
• Invesco KBW Bank ETF+1.1 ppof portfolioNew
  — → 1.1%
• iShares U.s. Financial Servi ETF−73%fewer sharesReduced
  1.5% → 0.4%
• State Street SPDR S&P Dividend ETF−0.7 ppof portfolioSold out
  0.8% → —
• Schwab US DVD Equity ETF+6,853%more sharesIncreased
  under 0.1% → 0.7%
• Stryker−64%fewer sharesReduced
  1.2% → 0.4%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Vanguard Index FundsVV5.0%
• Invesco QQQ Trust Series 1 ETFQQQ5.0%
• Invesco Exchange Traded Fund TRSPT4.2%
• NVIDIANVDA4.1%
• AlphabetGOOG · GOOGL3.5%
• iShares Core S&P 500 ETFIVV3.1%
• Invesco Exchange Traded Fund TRSP3.0%
• Vanguard Dividend Apprec ETFVIG3.0%
• Vanguard Russell 1000 Growth ETFVONG2.7%
• Vanguard Mrngstr Val ETF-aui ETFVTV2.6%
• State Street SPDR P S&P 1500 Comp ETFSPTM2.6%
• AppleAAPL2.6%
• Vanguard High DVD Yield ETFVYM2.5%
• Amazon.comAMZN2.2%
• State Street SPDR P S&P 500 Growth ETFSPYG2.0%
• MicrosoftMSFT2.0%
• State Street Comm Select Sector SPDR ETFXLC1.8%
• Arista NetworksANET1.8%
• JPMorgan ChaseJPM1.8%
• CrowdStrike HoldingsCRWD1.7%
• Invesco S&P 500 Momentum ETFSPMO1.6%
• Invesco Exchange Traded Fund TSPHQ1.6%
• Costco WholesaleCOST1.6%
• VisaV1.4%
• Marriott InternationalMAR1.3%
• Berkshire HathawayBRK/B1.3%
• Meta PlatformsMETA1.3%
• UBER TechnologiesUBER1.2%
• iShares Ibonds 2028 TM HY In ETFIBHH1.2%
• State Street SPDR S&P 500 ESG ETFEFIV1.1%
• Invesco KBW Bank ETFKBWB1.1%
• TJXTJX1.1%
• Vanguard S&P 500 ETFVOO1.1%
• State Str Spdr S&P 500 ETF TSPY1.1%
• Vanguard Mrngstar GR ETF-sui ETFVUG1.0%
• iShares Ibonds DEC 2028 ETFIBDT1.0%
• Booking HoldingsBKNG1.0%
• Royal Caribbean CruisesRCL1.0%
• ASML HoldingASML1.0%
• State Street SPDR S&P 1500 MOM Tilt ETFMMTM0.9%
• BroadcomAVGO0.8%
• BlackRockBLK0.7%
• iShares Ibonds DEC 2028 Term ETFIBTI0.7%
• Vanguard International Equity Index FVEU0.7%
• Schwab US DVD Equity ETFSCHD0.7%
• iShares International Div Growth ETFIGRO0.6%
• Intercontinental ExchangeICE0.6%
• iShares Ibonds 2029 TM HY In ETFIBHI0.6%
• Vanguard Index FundsVBR0.6%
• State Street SPDR Global DOW ETFDGT0.6%
• SoFi TechnologiesSOFI0.6%
• SPDR US LC Low Vol Idx ETFLGLV0.6%
• ShopifySHOP0.5%
• iShares Core Msci DEV Mkts ETFIDEV0.5%
• NasdaqNDAQ0.5%
• SouthernSO0.5%
• iShares Ibonds DEC 2029 Term ETFIBDU0.5%
• Ares CapitalARCC0.5%
• WalmartWMT0.5%
• iShares Ibonds DEC 2026 Term ETFIBTG0.4%
• On HoldingONON0.4%
• iShares Ibond 2026 HY ETFIBHF0.4%
• iShares U.s. Financial Servi ETFIYG0.4%
• STE Str SPDR PT S&P 500 ETFSPYM0.4%
• StrykerSYK0.4%
• Vanguard Index FundsVO0.3%
• Capital One FinancialCOF0.3%
• iShares Russell Mid-cap ETFIWR0.3%
• iShares S&P Small-cap 600 GR ETFIJT0.3%
• State Street Health Care Select Sector ETFXLV0.3%
• Vanguard Index FundsVOT0.2%
• iShares Ibonds DEC 2029 Term ETFIBTJ0.2%
• Vanguard Index FundsVBK0.2%
• Eli LillyLLY0.1%
• Vanguard Index FundsVTI0.1%
• State Str Spdr S&P Midcap 40MDY0.1%
• X-EnergyXE0.1%
• Exxon MobilXOM0.1%
• Invesco S&P Smallcap Informa ETFPSCT0.1%
• Nushares ETF TrNULG0.1%
• iShares Russell 2000 ETFIWM0.1%
• Rocket LabRKLB0.1%
• iShares Russell 1000 Growth ETFIWF0.1%
• State Street SPDR P S&P 500 Value ETFSPYV0.1%
• Nextera EnergyNEE0.1%
• STE Str SPDR PT DW EU ETFSPDW0.1%
• iShares Core S&P Small-cap E ETFIJR0.1%
• TeslaTSLAunder 0.1%
• iShares Biotechnology ETFIBBunder 0.1%
• Vanguard Info Tech ETFVGTunder 0.1%
• CoherentCOHRunder 0.1%
• Johnson & JohnsonJNJunder 0.1%
• iShares Russell Mid-cap Valu ETFIWSunder 0.1%
• PNC Financial Services GroupPNCunder 0.1%
• iShares Core S&P U.s. Growth ETFIUSGunder 0.1%
• Affirm HoldingsAFRMunder 0.1%
• Walt DisneyDISunder 0.1%
• State Street SPDR P S&P 600 Small Cap ETFSPSMunder 0.1%
• BlackstoneBXunder 0.1%