Model Portfolios, Position by Position

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Capital Wealth Aggressive Growth · $50K · Tactical (Tier I-A)

#	Ticker	Company	Weight	Sector	Theme	Notes
#	Ticker	Company	Weight	Sector	Theme	Notes
1	NVDA	NVIDIA	3.25%	Tech / AI	AI / Mag7	Core compute leader
2	MSFT	Microsoft	3.25%	Tech / AI	AI / Mag7	Azure + Copilot stack
3	MRVL	Marvell Technology	2%	Tech / Semis	AI / Custom Silicon	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
4	AAPL	Apple	3.75%	Tech / Mag7	Mag7	Cash machine + on-device AI
5	GOOGL	Alphabet	3.75%	Tech / Mag7	Mag7	Gemini + Search + YouTube
6	AMZN	Amazon	3.25%	Tech / Mag7	Mag7	AWS + retail compounder
6	META	Meta	3.25%	Tech / Mag7	Mag7	Ad engine + AI infra spend
7	TSLA	Tesla	3.00%	Tech / Mag7	Mag7	FSD / robotaxi optionality
8	AVGO	Broadcom	3.25%	AI Semis	AI infra	Custom silicon + networking
9	ORCL	Oracle	3.50%	AI Cloud	AI cloud	OCI capacity sold out
10	CRWD	CrowdStrike	3.50%	Cyber	AI cyber	Zero-trust platform leader
11	BRK.B	Berkshire Hathaway	4.00%	Quality / Conglom	Quality	Cash-rich quality compounder
12	JPM	JPMorgan	2.00%	Banks	Banks	NIM expansion + best-in-class
13	COST	Costco	3.00%	Staples	Quality / Staples	Membership compounder
14	LLY	Eli Lilly	3.25%	Pharma	Healthcare / GLP-1	GLP-1 franchise + Alzheimer
15	PLTR	Palantir	4.50%	Defense / AI	Defense / AI	AIP / Gotham wartime ramp
16	LMT	Lockheed Martin	3.50%	Defense	Defense	Defense prime + missile mix
17	GEV	GE Vernova	4.00%	Power	Power / DC	Grid + nuclear + gas turbines
18	VRT	Vertiv	3.50%	DC Infra	Power / DC	Data-center cooling + power
19	XOM	ExxonMobil	3.00%	Energy	Energy	Integrated major + Permian
20	CVX	Chevron	3.00%	Energy	Energy	Integrated major + dividend
21	LNG	Cheniere Energy	3.00%	Energy / LNG	Energy / LNG	U.S. LNG export pure-play
22	IAU	iShares Gold	3.00%	Gold	Real Assets / Gold	Gold bullion ETF hedge
23	ASML	ASML Holding NV	3.00%	International / Developed	Intl — Netherlands (semis)	EUV lithography monopoly
24	NVO	Novo Nordisk A/S	3.00%	International / Developed	Intl — Denmark (healthcare)	GLP-1 co-leader (Ozempic)
25	EWY	iShares MSCI Korea ETF	2.50%	International / EM	Intl — Korea (Samsung proxy)	Samsung-heavy Korea proxy
26	TSM	Taiwan Semiconductor	2.25%	AI Semis	Intl — Taiwan (semis)	Foundry leader; AI supply chokehold
27	CPNG	Coupang	2.50%	International / EM	Intl — Korea (e-commerce)	Korean e-commerce compounder
+	SGOV	iShares 0-3M Treasury ETF	0.00%	Fixed Income	Bonds	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	IEF	iShares 7-10Y Treasury	1.50%	Fixed Income	Bonds	June 8 — uniform 4.5% bond sleeve
28	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	Buffer	Settlement / rebalancing reserve per the house concentration rule
29	NEE	NextEra Energy	1.00%	Power	Power / DC	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
30	AZN	AstraZeneca	0.50%	Pharma	Healthcare	NEW May 19 — Hypertension approval; pharma diversification
31	MU	Micron Technology	1.50%	AI Semis / Memory	AI infra	NEW Jun 27 — blowout May quarter, ~80% margins; memory is the picks-and-shovels of AI
32	GS	Goldman Sachs	1.00%	Banks	Banks	NEW Jun 27 — passed stress test, raised dividend; capital-return cycle
33	MS	Morgan Stanley	1.00%	Banks	Banks	NEW Jun 27 — aced stress test, $20B buyback
34	ABBV	AbbVie	0.75%	Pharma	Healthcare	NEW Jun 27 — $10.9B Apogee deal restocks immunology pipeline
+	VLO	Valero Energy	3.00%	Energy / Refining	Energy / Refining	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL	32 positions + cash	99.50%			the house concentration rule sweet spot — 25–30 names

Note on Tier I-A — Tactical Conviction: 31 equity names + 2 bond ETFs (SGOV / IEF 1.5% each = 3% sleeve; TIP retired to SGOV Sep 1 2026) + 0.5% SGOV settlement buffer. Diversification benefit plateaus at 25–30 names per Statman's concentration rule; beyond that you pay friction for marginal risk reduction. Hold a separate liquidity reserve outside this model for drawdown cash needs.

Investment Policy Statement

Risk band: Tolerate −30% peak-to-trough drawdown (concentrated 100%-equity profile)
Time horizon: 10+ years before required withdrawals
Liquidity need: 0.5% SGOV settlement buffer; no other cash — hold liquidity reserve outside the model
Return objective: S&P 500 + 3% annualized over 10 years
Rebalancing trigger: Single-stock at ±0.75% deviation from target; sector deviation at 4% from target
Excluded screens: None — open mandate. Custom screens available on request.

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding maximizes concentrated growth
Acceptable: Traditional IRA / 401(k) — tax-deferred with ordinary-income withdrawal
Avoid for high-bracket: Taxable brokerage — turnover at the 0.75% rebalance band creates short-term gains

Effective Theme Exposure

AI / Mag729.5%
AI Infrastructure11.5%
Quality / Financials15.0%
Defense8.0%
Power & Data-Center Infra7.5%
Energy12.0%
Real Assets / Gold3.0%
International (5 names: ASML, NVO, EWY, TSM, CPNG)13.25%
Cash buffer (SGOV settlement reserve)0.5%
Total99.5%

Capital Wealth Aggressive Growth · $100K · Tactical (Tier II-A)

Tactical conviction book — 32 positions sourced from daily market commentary. Built around current events: earnings surprises, geopolitical shifts, sector rotations, M&A news. Each name has a 2-sentence thesis you can articulate from this week's headlines. Position-count target 25–35 per the house concentration rule's diversification sweet spot. Portal-synced via slug aggressive_100k_concentrated. Includes 3% bond sleeve (SGOV / IEF 1.5% each; TIP retired to SGOV Sep 1 2026). Methodology distinction: Tactical Conviction picks come from daily news; for fundamentals-driven companions see Tier II-B Fundamentals Core. Performance (current weights, Oct 9 close): YTD +33.5% · 1-yr +34.2% · annualized since inception (2.5 yrs) +41.1%.Post-election destination — base case. This is the book the Midterm Election Dividend reserve rotates into after November 3 on the base path, held through the fall rather than traded around (see Defense Wins The Fall and the September Letter). It is the beta vehicle by design. Measured May 1 2024 – Sep 4 2026, monthly, against the S&P 500 Total Return: annualized +44.52% · standard deviation 15.35% · Sharpe 2.22 · Sortino 3.25 · maximum drawdown −21.50% · benchmark correlation 0.89. That drawdown is the price of admission to the twelve months after a midterm vote, which have been positive nineteen times out of nineteen since 1950. Past performance does not guarantee future results.

Year-to-Date

+33.5%

1-Month

+3.5%

Last Reweight

June 8, 2026

Positions

27 + cash

#	Ticker	Company	Weight	Sector	Theme	Notes
#	Ticker	Company	Weight	Sector	Theme	Notes
1	NVDA	NVIDIA	3.25%	Tech / AI	AI / Mag7	Core compute leader
2	MSFT	Microsoft	3.25%	Tech / AI	AI / Mag7	Azure + Copilot stack
3	MRVL	Marvell Technology	2%	Tech / Semis	AI / Custom Silicon	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
4	AAPL	Apple	3.75%	Tech / Mag7	Mag7	Cash machine + on-device AI
5	GOOGL	Alphabet	3.75%	Tech / Mag7	Mag7	Gemini + Search + YouTube
6	AMZN	Amazon	3.25%	Tech / Mag7	Mag7	AWS + retail compounder
6	META	Meta	3.25%	Tech / Mag7	Mag7	Ad engine + AI infra spend
7	TSLA	Tesla	3.00%	Tech / Mag7	Mag7	FSD / robotaxi optionality
8	AVGO	Broadcom	3.25%	AI Semis	AI infra	Custom silicon + networking
9	ORCL	Oracle	3.50%	AI Cloud	AI cloud	OCI capacity sold out
10	CRWD	CrowdStrike	3.50%	Cyber	AI cyber	Zero-trust platform leader
11	BRK.B	Berkshire Hathaway	4.00%	Quality / Conglom	Quality	Cash-rich quality compounder
12	JPM	JPMorgan	2.00%	Banks	Banks	NIM expansion + best-in-class
13	COST	Costco	3.00%	Staples	Quality / Staples	Membership compounder
14	LLY	Eli Lilly	3.25%	Pharma	Healthcare / GLP-1	GLP-1 franchise + Alzheimer
15	PLTR	Palantir	4.50%	Defense / AI	Defense / AI	AIP / Gotham wartime ramp
16	LMT	Lockheed Martin	3.50%	Defense	Defense	Defense prime + missile mix
17	GEV	GE Vernova	4.00%	Power	Power / DC	Grid + nuclear + gas turbines
18	VRT	Vertiv	3.50%	DC Infra	Power / DC	Data-center cooling + power
19	XOM	ExxonMobil	3.00%	Energy	Energy	Integrated major + Permian
20	CVX	Chevron	3.00%	Energy	Energy	Integrated major + dividend
21	LNG	Cheniere Energy	3.00%	Energy / LNG	Energy / LNG	U.S. LNG export pure-play
22	IAU	iShares Gold	3.00%	Gold	Real Assets / Gold	Gold bullion ETF hedge
23	ASML	ASML Holding NV	3.00%	International / Developed	Intl — Netherlands (semis)	EUV lithography monopoly
24	NVO	Novo Nordisk A/S	3.00%	International / Developed	Intl — Denmark (healthcare)	GLP-1 co-leader (Ozempic)
25	EWY	iShares MSCI Korea ETF	2.50%	International / EM	Intl — Korea (Samsung proxy)	Samsung-heavy Korea proxy
26	TSM	Taiwan Semiconductor	2.25%	AI Semis	Intl — Taiwan (semis)	Foundry leader; AI supply chokehold
27	CPNG	Coupang	2.50%	International / EM	Intl — Korea (e-commerce)	Korean e-commerce compounder
+	SGOV	iShares 0-3M Treasury ETF	0.00%	Fixed Income	Bonds	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	IEF	iShares 7-10Y Treasury	1.50%	Fixed Income	Bonds	June 8 — uniform 4.5% bond sleeve
28	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	Buffer	Settlement / rebalancing reserve per the house concentration rule
29	NEE	NextEra Energy	1.00%	Power	Power / DC	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
30	AZN	AstraZeneca	0.50%	Pharma	Healthcare	NEW May 19 — Hypertension approval; pharma diversification
31	MU	Micron Technology	1.50%	AI Semis / Memory	AI infra	NEW Jun 27 — blowout May quarter, ~80% margins; memory is the picks-and-shovels of AI
32	GS	Goldman Sachs	1.00%	Banks	Banks	NEW Jun 27 — passed stress test, raised dividend; capital-return cycle
33	MS	Morgan Stanley	1.00%	Banks	Banks	NEW Jun 27 — aced stress test, $20B buyback
34	ABBV	AbbVie	0.75%	Pharma	Healthcare	NEW Jun 27 — $10.9B Apogee deal restocks immunology pipeline
+	VLO	Valero Energy	3.00%	Energy / Refining	Energy / Refining	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL	32 positions + cash	99.50%			the house concentration rule sweet spot — 25–30 names

Note on Tier II-A — Tactical Conviction ($100K): 31 equity names + 2 bond ETFs (SGOV / IEF 1.5% each = 3% sleeve; TIP retired to SGOV Sep 1 2026) + 0.5% SGOV settlement buffer. Mirrors the Tier I-A roster and weights at the $100K AUM tier — same Statman's concentration rule sweet spot. Hold a separate liquidity reserve outside this model for drawdown cash needs.

Investment Policy Statement

Risk band: Tolerate −30% peak-to-trough drawdown (concentrated 100%-equity profile)
Time horizon: 10+ years before required withdrawals
Liquidity need: 0.5% SGOV settlement buffer; no other cash — hold liquidity reserve outside the model
Return objective: S&P 500 + 3% annualized over 10 years
Rebalancing trigger: Single-stock at ±0.75% deviation from target; sector deviation at 4% from target
Excluded screens: None — open mandate. Custom screens available on request.

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding maximizes concentrated growth
Acceptable: Traditional IRA / 401(k) — tax-deferred with ordinary-income withdrawal
Avoid for high-bracket: Taxable brokerage — turnover at the 0.75% rebalance band creates short-term gains

Effective Theme Exposure

AI / Mag729.5%
AI Infrastructure11.5%
Quality / Financials15.0%
Defense8.0%
Power & Data-Center Infra7.5%
Energy12.0%
Real Assets / Gold3.0%
International (5 names: ASML, NVO, EWY, TSM, CPNG)13.25%
Cash buffer (SGOV settlement reserve)0.5%
Total99.5%

Capital Wealth Aggressive Growth · $250K · Tactical (Tier III-A)

Tactical conviction book — 35 positions sourced from daily market commentary. Built around current events: earnings surprises, geopolitical shifts, sector rotations, M&A news. Each name has a 2-sentence thesis you can articulate from this week's headlines. Position-count target 25–35 per the house concentration rule's diversification sweet spot. Portal-synced via slug aggressive_250k_concentrated. Includes 3% bond sleeve (SGOV / IEF 1.5% each; TIP retired to SGOV Sep 1 2026). Methodology distinction: Tactical Conviction picks come from daily news; for fundamentals-driven companions see Tier III-B Fundamentals Core. Performance (current weights, Oct 9 close): YTD +34.3% · 1-yr +35.4% · annualized since inception (2.5 yrs) +39.8%.

Year-to-Date

+34.3%

1-Month

+3.3%

Last Reweight

June 8, 2026

Positions

30 + cash

#	Ticker	Company	Weight	Sector	Theme	Notes
#	Ticker	Company	Weight	Sector	Theme	Notes
1	NVDA	NVIDIA	2.75%	Tech / AI	AI / Mag7	Core compute leader
2	MSFT	Microsoft	2.75%	Tech / AI	AI / Mag7	Azure + Copilot stack
3	MRVL	Marvell Technology	2%	Tech / Semis	AI / Custom Silicon	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
4	AAPL	Apple	3.25%	Tech / Mag7	Mag7	Cash machine + on-device AI
5	GOOGL	Alphabet	3.25%	Tech / Mag7	Mag7	Gemini + Search + YouTube
6	AMZN	Amazon	2.75%	Tech / Mag7	Mag7	AWS + retail compounder
6	META	Meta	2.75%	Tech / Mag7	Mag7	Ad engine + AI infra spend
7	TSLA	Tesla	2.75%	Tech / Mag7	Mag7	FSD / robotaxi optionality
8	AVGO	Broadcom	2.75%	AI Semis	AI infra	Custom silicon + networking
9	ORCL	Oracle	3.00%	AI Cloud	AI cloud	OCI capacity sold out
10	ANET	Arista Networks	3.00%	AI Networking	AI infra	Switching for AI data centers
11	CRWD	CrowdStrike	3.00%	Cyber	AI cyber	Zero-trust platform leader
12	BRK.B	Berkshire Hathaway	3.75%	Quality / Conglom	Quality	Cash-rich quality compounder
13	JPM	JPMorgan	1.75%	Banks	Banks	NIM expansion + best-in-class
14	COST	Costco	3.00%	Staples	Quality / Staples	Membership compounder
15	LLY	Eli Lilly	2.75%	Pharma	Healthcare / GLP-1	GLP-1 franchise + Alzheimer
16	HCA	HCA Healthcare	3.00%	Healthcare	Healthcare / Hospitals	Largest U.S. hospital operator
17	PLTR	Palantir	4.00%	Defense / AI	Defense / AI	AIP / Gotham wartime ramp
18	LMT	Lockheed Martin	3.25%	Defense	Defense	Defense prime + missile mix
19	GEV	GE Vernova	3.50%	Power	Power / DC	Grid + nuclear + gas turbines
20	VRT	Vertiv	3.25%	DC Infra	Power / DC	Data-center cooling + power
21	XOM	ExxonMobil	2.63%	Energy	Energy	Integrated major + Permian
22	CVX	Chevron	2.83%	Energy	Energy	Integrated major + dividend
23	LNG	Cheniere Energy	2.63%	Energy / LNG	Energy / LNG	U.S. LNG export pure-play
24	SLB	Schlumberger	2.41%	Energy Services	Energy	Global oilfield services leader
25	IAU	iShares Gold	2.75%	Gold	Real Assets / Gold	Gold bullion ETF hedge
26	ASML	ASML Holding NV	3.00%	International / Developed	Intl — Netherlands (semis)	EUV lithography monopoly
27	NVO	Novo Nordisk A/S	3.00%	International / Developed	Intl — Denmark (healthcare)	GLP-1 co-leader (Ozempic)
28	EWY	iShares MSCI Korea ETF	2.50%	International / EM	Intl — Korea (Samsung proxy)	Samsung-heavy Korea proxy
29	TSM	Taiwan Semiconductor	2.25%	AI Semis	Intl — Taiwan (semis)	Foundry leader; AI supply chokehold
30	CPNG	Coupang	2.50%	International / EM	Intl — Korea (e-commerce)	Korean e-commerce compounder
+	SGOV	iShares 0-3M Treasury ETF	0.00%	Fixed Income	Bonds	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	IEF	iShares 7-10Y Treasury	1.50%	Fixed Income	Bonds	June 8 — uniform 4.5% bond sleeve
31	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	Buffer	Settlement / rebalancing reserve per the house concentration rule
32	NEE	NextEra Energy	1.00%	Power	Power / DC	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
33	AZN	AstraZeneca	0.50%	Pharma	Healthcare	NEW May 19 — Hypertension approval; pharma diversification
34	MU	Micron Technology	1.50%	AI Semis / Memory	AI infra	NEW Jun 27 — blowout May quarter, ~80% margins; memory is the picks-and-shovels of AI
35	GS	Goldman Sachs	1.00%	Banks	Banks	NEW Jun 27 — passed stress test, raised dividend; capital-return cycle
36	MS	Morgan Stanley	1.00%	Banks	Banks	NEW Jun 27 — aced stress test, $20B buyback
37	ABBV	AbbVie	0.75%	Pharma	Healthcare	NEW Jun 27 — $10.9B Apogee deal restocks immunology pipeline
+	VLO	Valero Energy	3.00%	Energy / Refining	Energy / Refining	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL	35 positions + cash	99.50%			the house concentration rule sweet spot — 25–30 names

Note on Tier III-A — Tactical Conviction ($250K): 34 equity names + 2 bond ETFs (SGOV / IEF 1.5% each = 3% sleeve; TIP retired to SGOV Sep 1 2026) + 0.5% SGOV settlement buffer. Extends the Tier I-A roster with three sector-breadth adds (ANET, HCA, SLB) at the upper edge of the the house concentration rule concentrated sweet spot. Hold a separate liquidity reserve outside this model for drawdown cash needs.

Investment Policy Statement

Risk band: Tolerate −28% peak-to-trough drawdown (concentrated 100%-equity profile)
Time horizon: 10+ years before required withdrawals
Liquidity need: 0.5% SGOV settlement buffer; no other cash — hold liquidity reserve outside the model
Return objective: S&P 500 + 3% annualized over 10 years
Rebalancing trigger: Single-stock at ±0.75% deviation from target; sector deviation at 4% from target
Excluded screens: None — open mandate. Custom screens available on request.

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding maximizes concentrated growth
Acceptable: Traditional IRA / 401(k) — tax-deferred with ordinary-income withdrawal
Avoid for high-bracket: Taxable brokerage — turnover at the 0.75% rebalance band creates short-term gains

Effective Theme Exposure

AI / Mag725.25%
AI Infrastructure (AVGO, ORCL, ANET, CRWD)11.75%
Quality / Financials13.50%
Defense7.25%
Power & Data-Center Infra6.75%
Healthcare (LLY, HCA)5.75%
Energy (XOM, CVX, LNG, SLB, VLO)13.5%
Real Assets / Gold2.75%
International (5 names: ASML, NVO, EWY, TSM, CPNG)13.25%
Cash buffer (SGOV settlement reserve)0.5%
Total99.5%

Capital Wealth Aggressive Growth · $500K · Tactical (Tier IV-A)

Tactical conviction book — 39 positions sourced from daily market commentary. Built around current events: earnings surprises, geopolitical shifts, sector rotations, M&A news. Each name has a 2-sentence thesis you can articulate from this week's headlines. Position-count target 25–35 per the house concentration rule's diversification sweet spot. Portal-synced via slug aggressive_500k_concentrated. Includes 3% bond sleeve (SGOV / IEF 1.5% each; TIP retired to SGOV Sep 1 2026). Methodology distinction: Tactical Conviction picks come from daily news; for fundamentals-driven companions see Tier IV-B Fundamentals Core. Performance (current weights, Oct 9 close): YTD +34.6% · 1-yr +36.8% · annualized since inception (2.5 yrs) +39.2%.

Year-to-Date

+34.6%

1-Month

+3.0%

Last Reweight

June 8, 2026

Positions

35 + cash

#	Ticker	Company	Weight	Sector	Theme	Notes
#	Ticker	Company	Weight	Sector	Theme	Notes
1	NVDA	NVIDIA	2.5%	Tech / AI	AI / Mag7	Core compute leader
2	MSFT	Microsoft	2.5%	Tech / AI	AI / Mag7	Azure + Copilot stack
3	MRVL	Marvell Technology	2%	Tech / Semis	AI / Custom Silicon	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
4	AAPL	Apple	2.75%	Tech / Mag7	Mag7	Cash machine + on-device AI
5	GOOGL	Alphabet	2.75%	Tech / Mag7	Mag7	Gemini + Search + YouTube
6	AMZN	Amazon	2.50%	Tech / Mag7	Mag7	AWS + retail compounder
6	META	Meta	2.50%	Tech / Mag7	Mag7	Ad engine + AI infra spend
7	TSLA	Tesla	2.25%	Tech / Mag7	Mag7	FSD / robotaxi optionality
8	AVGO	Broadcom	2.25%	AI Semis	AI infra	Custom silicon + networking
9	ORCL	Oracle	2.75%	AI Cloud	AI cloud	OCI capacity sold out
10	ANET	Arista Networks	2.75%	AI Networking	AI infra	Switching for AI data centers
11	CRWD	CrowdStrike	2.75%	Cyber	AI cyber	Zero-trust platform leader
12	BRK.B	Berkshire Hathaway	3.25%	Quality / Conglom	Quality	Cash-rich quality compounder
13	JPM	JPMorgan	1.25%	Banks	Banks	NIM expansion + best-in-class
14	COST	Costco	2.50%	Staples	Quality / Staples	Membership compounder
15	LLY	Eli Lilly	3.25%	Pharma	Healthcare / GLP-1	GLP-1 franchise + Alzheimer
16	HCA	HCA Healthcare	2.75%	Healthcare	Healthcare / Hospitals	Largest U.S. hospital operator
17	PLTR	Palantir	3.50%	Defense / AI	Defense / AI	AIP / Gotham wartime ramp
18	LMT	Lockheed Martin	3.00%	Defense	Defense	Defense prime + missile mix
19	GEV	GE Vernova	3.00%	Power	Power / DC	Grid + nuclear + gas turbines
20	VRT	Vertiv	2.75%	DC Infra	Power / DC	Data-center cooling + power
21	XOM	ExxonMobil	2.35%	Energy	Energy	Integrated major + Permian
22	CVX	Chevron	2.36%	Energy	Energy	Integrated major + dividend
23	LNG	Cheniere Energy	2.36%	Energy / LNG	Energy / LNG	U.S. LNG export pure-play
24	SLB	Schlumberger	1.93%	Energy Services	Energy	Global oilfield services leader
25	IAU	iShares Gold	2.25%	Gold	Real Assets / Gold	Gold bullion ETF hedge
26	NEM	Newmont	2.25%	Materials / Gold	Real Assets / Gold	Largest gold miner; FCF leverage
27	ABBV	AbbVie	2.50%	Pharma	Healthcare	Immunology + neuroscience pipeline
28	DE	Deere	2.25%	Industrials	Industrials / Ag	Precision ag + autonomous
29	V	Visa	2.50%	Payments	Quality / Payments	Payments network duopoly
30	KO	Coca-Cola	2.25%	Staples	Quality / Staples	Defensive global staple
31	ASML	ASML Holding NV	2.50%	International / Developed	Intl — Netherlands (semis)	EUV lithography monopoly
32	NVO	Novo Nordisk A/S	2.50%	International / Developed	Intl — Denmark (healthcare)	GLP-1 co-leader (Ozempic)
33	EWY	iShares MSCI Korea ETF	2.25%	International / EM	Intl — Korea (Samsung proxy)	Samsung-heavy Korea proxy
34	TSM	Taiwan Semiconductor	1.75%	AI Semis	Intl — Taiwan (semis)	Foundry leader; AI supply chokehold
35	CPNG	Coupang	2.00%	International / EM	Intl — Korea (e-commerce)	Korean e-commerce compounder
+	SGOV	iShares 0-3M Treasury ETF	0.00%	Fixed Income	Bonds	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	IEF	iShares 7-10Y Treasury	1.50%	Fixed Income	Bonds	June 8 — uniform 4.5% bond sleeve
36	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	Buffer	Settlement / rebalancing reserve per the house concentration rule
37	NEE	NextEra Energy	1.00%	Power	Power / DC	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
38	AZN	AstraZeneca	0.50%	Pharma	Healthcare	NEW May 19 — Hypertension approval; pharma diversification
39	MU	Micron Technology	1.50%	AI Semis / Memory	AI infra	NEW Jun 27 — blowout May quarter, ~80% margins; memory is the picks-and-shovels of AI
40	GS	Goldman Sachs	1.00%	Banks	Banks	NEW Jun 27 — passed stress test, raised dividend; capital-return cycle
41	MS	Morgan Stanley	1.00%	Banks	Banks	NEW Jun 27 — aced stress test, $20B buyback
+	VLO	Valero Energy	3.00%	Energy / Refining	Energy / Refining	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL	39 positions + cash	99.50%			the house concentration rule upper edge — 25–35 names

Note on Tier IV-A — Tactical Conviction ($500K): 38 equity names + 2 bond ETFs (SGOV / IEF 1.5% each = 3% sleeve; TIP retired to SGOV Sep 1 2026) + 0.5% SGOV settlement buffer. Extends Tier III-A with five sector-breadth diversifiers (NEM, ABBV, DE, V, KO) at the upper edge of the the house concentration rule concentrated band. Hold a separate liquidity reserve outside this model for drawdown cash needs.

Investment Policy Statement

Risk band: Tolerate −25% peak-to-trough drawdown (concentrated 100%-equity profile)
Time horizon: 10+ years before required withdrawals
Liquidity need: 0.5% SGOV settlement buffer; no other cash — hold liquidity reserve outside the model
Return objective: S&P 500 + 3% annualized over 10 years
Rebalancing trigger: Single-stock at ±0.75% deviation from target; sector deviation at 4% from target
Excluded screens: None — open mandate. Custom screens available on request.

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding maximizes concentrated growth
Acceptable: Traditional IRA / 401(k) — tax-deferred with ordinary-income withdrawal
Avoid for high-bracket: Taxable brokerage — turnover at the 0.75% rebalance band creates short-term gains

Effective Theme Exposure

AI / Mag723.75%
AI Infrastructure (AVGO, ORCL, ANET, CRWD)10.5%
Quality / Financials / Payments (BRK.B, JPM, V)4.5%
Defense6.50%
Power & Data-Center Infra5.75%
Healthcare (LLY, HCA, ABBV)8.50%
Energy (XOM, CVX, LNG, SLB, VLO)12%
Staples (COST, KO)4.75%
Industrials / Ag (DE)2.25%
Real Assets / Gold (IAU, NEM)4.50%
International (5 names: ASML, NVO, EWY, TSM, CPNG)11%
Cash buffer (SGOV settlement reserve)0.5%
Total99.5%

Capital Wealth Aggressive Growth · $50K · Fundamentals (Tier I-B)

Fundamentals core book — ~75 positions selected via fundamentals-grounded earnings, balance-sheet, and secular-thesis analysis. Tilts toward businesses with durable competitive moats, growing free cash flow, and conservative leverage. Slower-moving conviction than the Tactical book; positions held through news cycles unless fundamentals deteriorate. Portal-synced via slug aggressive_50k. Methodology distinction: Fundamentals Core picks come from earnings analysis; for daily-news tactical companions see Tier I-A Tactical Conviction.

#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
1	TPL	Texas Pacific Land	3.23%	Energy	+26.2%	+0.85%
2	XOM	ExxonMobil	3.17%	Energy	+43.2%	+1.38%
3	CVX	Chevron	3.66%	Energy	+43.0%	+1.58%
4	LNG	Cheniere Energy	3.66%	Energy	+44.1%	+1.62%
5	WMB	Williams Companies	3.66%	Energy	+23.5%	+0.87%
6	PLTR	Palantir	3.47%	Defense	+17.6%	+0.61%
9	LMT	Lockheed Martin	3.57%	Defense	+7.3%	+0.26%
10	NVDA	NVIDIA	2.78%	AI	+23.2%	+0.65%
11	AVGO	Broadcom	2.78%	AI Semis	+5.0%	+0.14%
12	CRWD	CrowdStrike	3.39%	Cyber	+134.7%	+4.59%
13	ORCL	Oracle	3.39%	AI/Data	−26.5%	−0.90%
16	AAPL	Apple	2.41%	Tech/Mag7	+24.2%	+0.59%
17	MSFT	Microsoft	2.41%	Tech/Mag7	+11.3%	+0.27%
6	MRVL	Marvell Technology	1.48%	Tech / Semis · AI / Custom Silicon	+224.5%	+3.34%	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
18	GOOGL	Alphabet	2.41%	Tech/Mag7	+12.6%	+0.30%
19	AMZN	Amazon	2.41%	Tech/Mag7	+13.7%	+0.33%
20	META	Meta	2.41%	Tech/Mag7	+9.2%	+0.22%
21	TSLA	Tesla	2.41%	Tech/Mag7	−14.9%	−0.36%
22	JPM	JPMorgan	3.26%	Bank	+5.3%	+0.17%
25	BRK.B	Berkshire	3.26%	Conglom	+2.6%	+0.08%
27	GEV	GE Vernova	3.39%	Power	+54.0%	+1.84%
29	VRT	Vertiv	3.39%	DC Infra	+50.0%	+1.70%
30	IAU	iShares Gold	2.46%	Gold	−2.8%	−0.07%
34	COST	Costco	2.73%	Staples	+10.3%	+0.28%
35	LLY	Eli Lilly	2.73%	Pharma	+10.3%	+0.28%
39	BA	Boeing	2.65%	Defense/Aero	−12.3%	−0.33%	ADD Apr 23 — Q1 cash-flow positive, 737 deliveries +72%
40	NEE	NextEra Energy	0.99%	Power	−1.5%	−0.02%	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
41	AZN	AstraZeneca	0.49%	Pharma	−12.5%	−0.06%	NEW May 19 — Hypertension approval; pharma diversification
	TOTAL		99.50%
+	EWT	iShares MSCI Taiwan ETF	1.20%	International / EM	+79.9%	+0.96%	NEW May 09 — Taiwan +34% YTD; broader Taiwan beyond TSM single-stock
+	ASML	ASML Holding NV	1.20%	International / Developed	+67.2%	+0.81%	desk audit May 12 (rev 3) — Netherlands - Semis - EUV lithography monopoly
+	NVO	Novo Nordisk A/S	1.20%	International / Developed	−20.3%	−0.24%	desk audit May 12 (rev 3) — Denmark - Healthcare - GLP-1 leader
+	EWY	iShares MSCI Korea ETF	1.20%	International / EM	+82.3%	+0.99%	desk audit May 12 (rev 3) — Korea - Samsung-heavy proxy
+	SGOV	iShares 0-3M Treasury ETF	2.15%	Fixed Income / Cash	+2.8%	+0.06%	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	IEF	iShares 7-10Y Treasury	1.81%	Fixed Income / Duration	−4.2%	−0.08%	June 8 — uniform 4.5% bond sleeve
+	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.60%	Cash	+2.8%	+0.02%	Rev 1 May 12 — 0.5% liquidity buffer per the house concentration rule settlement / rebalancing reserve
+	TSM	Taiwan Semiconductor	3.01%	AI Semis	+50.3%	+1.52%	NEW May 14 — Benard/Feith op-ed; chokehold on AI supply chain
+	AMKR	Amkor Technology	1.81%	AI Semis	+25.0%	+0.46%	NEW May 14 — Advanced packaging buildout in AZ; bottleneck pure-play
+	ARM	Arm Holdings	1.81%	AI Semis	+143.6%	+2.61%	Swap from SFTBY (untradeable OTC ADR) — Nasdaq-listed; SoftBank’s ~90%-owned core, AI compute IP
+	BAC	Bank of America	1.81%	Bank	+0.4%	+0.01%	NEW May 14 — Hike-not-cut Fed; NIM expansion
+	HSBC	HSBC Holdings	1.20%	International / Bank	+22.8%	+0.27%	Swap from ABNRY (untradeable OTC ADR) — NYSE-listed global bank; Asia/Europe rerate
+	NEM	Newmont	1.20%	Materials / Gold	+18.8%	+0.23%	NEW May 14 — Gold breakout to $4,697; politically-pressured Fed lights gold thesis
+	PM	Philip Morris Intl	1.25%	Staples	+28.7%	+0.36%	Family weight · added Aug 3

Note on Tier I — Concentrated: Tier I stays 100% equity by design — this is the highest-conviction concentrated tier. Diversification benefit is captured by 25-30 names per Statman's concentration rule; beyond that you pay friction for marginal risk reduction. Holding a separate liquidity reserve outside this model is the recommended way to handle drawdown cash needs.

Investment Policy Statement

Risk band: Tolerate -25% to -35% peak-to-trough; this is the highest-conviction tier
Time horizon: 10+ years before required withdrawals
Liquidity need: Low — concentrated growth book; pair with separate cash reserve outside the model
Return objective: S&P 500 + 3-4% annualized over 10 years
Rebalancing trigger: When any single sector deviates >5% from target, or any single stock crosses 5% cap
Excluded screens: None — open mandate. Custom values screens available on request

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding maximizes highest-conviction growth
Acceptable: Traditional IRA / 401(k) — tax-deferred with ordinary-income withdrawal
Avoid for high-bracket: Taxable brokerage — momentum/turnover creates short-term capital gains

Effective Theme Exposure

AI / Tech / Semis~30%
Defense / Aero~22%
Energy / Pipelines~16%
Power & Data-Center Infra~8%
Banks / Financials~5%
Healthcare~3%
Gold / Real Assets~3%
International (8 international names: ASML, NVO, EWY)3.6%
Cash buffer (settlement reserve)0.5%

+ 39 more positions in this model

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Capital Wealth Aggressive Growth · $100K · Fundamentals (Tier II-B)

Fundamentals core book — 37 positions selected via fundamentals-grounded earnings, balance-sheet, and secular-thesis analysis. Tilts toward businesses with durable competitive moats, growing free cash flow, and conservative leverage. Mag7 + AI infrastructure + defense + energy core, broader international (16% — 8 individual ADRs/single-country ETFs: ASML, NVO, SAP, TM, EWY, PBR, IBN, CPNG), 4.5% bond/cash sleeve (TIP + SGOV + IEF) per the house concentration rule. Portal-synced via slug aggressive_100k. Methodology distinction: Fundamentals Core picks come from earnings analysis; for daily-news tactical companions see Tier II-A Tactical Conviction. Performance (current weights, Oct 9 close): YTD +30.8% · 1-yr +30.9% · annualized since inception (2.5 yrs) +34.8%.

#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
1	TPL	Texas Pacific Land	1.89%	Energy	+26.2%	+0.50%
2	XOM	ExxonMobil	1.83%	Energy	+43.2%	+0.79%
3	CVX	Chevron	1.83%	Energy	+43.0%	+0.79%
4	COP	ConocoPhillips	1.83%	Energy	+46.4%	+0.85%
5	LNG	Cheniere Energy	1.83%	Energy	+44.1%	+0.81%
9	EOG	EOG Resources	1.83%	Energy	+44.6%	+0.82%
10	PLTR	Palantir	2.08%	Defense	+17.6%	+0.37%
13	LMT	Lockheed Martin	2.08%	Defense	+7.3%	+0.15%
14	HWM	Howmet Aerospace	2.08%	Defense	+10.0%	+0.21%
15	NOC	Northrop Grumman	2.08%	Defense	−14.7%	−0.31%
16	RTX	RTX Corp	2.08%	Defense	+2.5%	+0.05%
17	NVDA	NVIDIA	1.31%	AI	+23.2%	+0.31%
18	AVGO	Broadcom	1.31%	AI Semis	+5.0%	+0.07%
19	CRWD	CrowdStrike	1.83%	Cyber	+134.7%	+2.48%
20	PANW	Palo Alto Networks	1.83%	Cyber	+127.4%	+2.34%
21	ANET	Arista Networks	1.83%	AI Infra	+65.4%	+1.20%
22	ORCL	Oracle	1.83%	AI/Data	−26.5%	−0.49%
23	SNOW	Snowflake	1.83%	Data	+68.2%	+1.25%
26	META	Meta	1.31%	AI/Ad	+9.2%	+0.12%
27	JPM	JPMorgan	1.83%	Bank	+5.3%	+0.10%
28	GS	Goldman Sachs	1.83%	Bank	+3.4%	+0.06%
29	MS	Morgan Stanley	1.83%	Bank	+8.8%	+0.16%
31	BRK.B	Berkshire	1.83%	Conglom	+2.6%	+0.05%
35	GEV	GE Vernova	1.83%	Power	+54.0%	+0.99%
36	EME	EMCOR	1.83%	Infra	+29.3%	+0.54%
37	VRT	Vertiv	1.83%	DC Infra	+50.0%	+0.92%
40	AAPL	Apple	1.31%	Tech/Mag7	+24.2%	+0.32%
41	MSFT	Microsoft	1.31%	Tech/Mag7	+11.3%	+0.15%
6	MRVL	Marvell Technology	1.48%	Tech / Semis · AI / Custom Silicon	+224.5%	+3.34%	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
42	GOOGL	Alphabet	1.31%	Tech/Mag7	+12.6%	+0.17%
43	AMZN	Amazon	1.31%	Tech/Mag7	+13.7%	+0.18%
44	TSLA	Tesla	1.31%	Tech/Mag7	−14.9%	−0.20%
45	IAU	iShares Gold	1.83%	Gold	−2.8%	−0.05%
51	COST	Costco	1.01%	Staples	+10.3%	+0.10%
52	LLY	Eli Lilly	1.47%	Pharma	+10.3%	+0.15%
53	WMT	Walmart	0.50%	Staples	+0.6%	+0.00%
58	BA	Boeing	2.65%	Defense/Aero	−12.3%	−0.33%	ADD Apr 23 — Q1 beat, 737 deliveries +72% YoY
+	IEF	iShares 7-10Y Treasury	1.52%	Fixed Income	−4.2%	−0.06%	desk audit May 12 — intermediate-Treasury sleeve (8% total bond/cash)
59	NEE	NextEra Energy	0.99%	Power	−1.5%	−0.02%	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
60	AZN	AstraZeneca	0.49%	Pharma	−12.5%	−0.06%	NEW May 19 — Hypertension approval; pharma diversification
	TOTAL		99.50%
+	EWT	iShares MSCI Taiwan ETF	1.52%	International / EM	+79.9%	+1.22%	NEW May 09 — Taiwan +34% YTD; broader-than-TSM exposure
+	EFA	iShares MSCI EAFE Developed ex-US	1.52%	International / Developed	+9.4%	+0.14%	NEW May 09 — Developed-market diversifier (Europe, Japan, UK)
+	SGOV	iShares 0-3M Treasury ETF	1.65%	Fixed Income / Cash	+2.8%	+0.05%	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	ASML	ASML Holding NV	2.03%	International / Developed	+67.2%	+1.37%	desk audit May 12 (rev 3) — Netherlands - Semis - EUV lithography monopoly
+	NVO	Novo Nordisk A/S	2.03%	International / Developed	−20.3%	−0.41%	desk audit May 12 (rev 3) — Denmark - Healthcare - GLP-1 leader
+	SAP	SAP SE	2.02%	International / Developed	−10.0%	−0.20%	desk audit May 12 (rev 3) — Germany - Software - ERP global standard
+	TM	Toyota Motor Corp	2.02%	International / Developed	−13.4%	−0.27%	desk audit May 12 (rev 3) — Japan - Discretionary - Global auto leader
+	EWY	iShares MSCI Korea ETF	2.03%	International / EM	+82.3%	+1.68%	desk audit May 12 (rev 3) — Korea - Samsung-heavy proxy
+	PBR	Petrobras	1.52%	International / EM	+122.8%	+1.88%	desk audit May 12 (rev 3) — Brazil - Energy - Integrated oil major
+	IBN	ICICI Bank	1.52%	International / EM	−5.6%	−0.09%	desk audit May 12 (rev 3) — India - Financials - Banking leader
+	CPNG	Coupang Inc	1.52%	International / EM	−32.9%	−0.50%	desk audit May 12 (rev 3) — Korea - E-commerce - NYSE direct listing
+	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	+2.8%	+0.01%	Rev 1 May 12 — 0.5% liquidity buffer per the house concentration rule settlement / rebalancing reserve
39	DE	Deere	1.21%	Industrials	+34.4%	+0.42%	NEW May 13 — Soybean purchase upside; ag-equipment beneficiary
40	ADM	Archer-Daniels-Midland	0.31%	Staples	+41.8%	+0.13%	NEW May 13 — Grain trader; direct soybean purchase beneficiary
41	EBAY	eBay	1.21%	Consumer Discretionary	+30.0%	+0.36%	NEW May 13 — Board rejected $56B GameStop bid; cheap on cash flow
+	TSM	Taiwan Semiconductor	2.53%	AI Semis	+50.3%	+1.28%	NEW May 14 — Benard/Feith op-ed; chokehold on AI supply chain
+	AMKR	Amkor Technology	1.52%	AI Semis	+25.0%	+0.38%	NEW May 14 — Advanced packaging buildout in AZ; bottleneck pure-play
+	ARM	Arm Holdings	1.52%	AI Semis	+143.6%	+2.19%	Swap from SFTBY (untradeable OTC ADR) — Nasdaq-listed; SoftBank’s ~90%-owned core, AI compute IP
+	BAC	Bank of America	1.52%	Bank	+0.4%	+0.01%	NEW May 14 — Hike-not-cut Fed; NIM expansion
+	HSBC	HSBC Holdings	1.52%	International / Bank	+22.8%	+0.35%	Swap from ABNRY (untradeable OTC ADR) — NYSE-listed global bank; Asia/Europe rerate
+	NEM	Newmont	1.21%	Materials / Gold	+18.8%	+0.23%	NEW May 14 — Gold breakout to $4,697; politically-pressured Fed lights gold thesis
+	PM	Philip Morris Intl	1.25%	Staples	+28.7%	+0.36%	Family weight · added Aug 3

Investment Policy Statement

Risk band: Tolerate -20% to -30% peak-to-trough
Time horizon: 8-10+ years
Liquidity need: Low-to-moderate — 4% bond / cash sleeve + 0.5% cash buffer provides rebalancing source
Return objective: S&P 500 + 2% annualized over 10 years
Rebalancing trigger: When any sector deviates >4% from target, or bond sleeve drifts >2%
Excluded screens: None — open mandate. Custom values screens available on request

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — full tax-free compounding on the growth book
Acceptable: Traditional IRA / 401(k) — tax-deferred
Avoid for high-bracket: Taxable brokerage — pipeline / MLP names create K-1 complexity

Effective Theme Exposure

AI / Tech / Semis~22%
Defense / Aero~12%
Energy / Pipelines~11%
Banks / Financials~7%
Power & DC Infra~5%
Staples / Pharma / Healthcare~5%
International (8 international names: ASML, NVO, SAP, TM, EWY, PBR, IBN, CPNG)14.69%
Bonds (SGOV + IEF)3.17%
Cash buffer (settlement reserve)0.5%

+ 58 more positions in this model

Top 5 holdings shown above. Become a Capital Wealth client to see every position, sector weight, and contribution.

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Capital Wealth Aggressive Growth · $250K · Fundamentals (Tier III-B)

Fundamentals core book — 54 positions selected via fundamentals-grounded earnings, balance-sheet, and secular-thesis analysis. Tilts toward businesses with durable competitive moats, growing free cash flow, and conservative leverage. Full-stack expression of all major themes (AI, defense, energy, healthcare, financials, power/infra), broadened international (20% — 8 individual ADRs/single-country ETFs plus satellites), and a 4.5% bond/cash sleeve (TIP + SGOV + IEF). Portal-synced via slug aggressive_250k. Methodology distinction: Fundamentals Core picks come from earnings analysis; for daily-news tactical companions see Tier III-A Tactical Conviction. Performance (current weights, Oct 9 close): YTD +31.1% · 1-yr +32.8% · annualized since inception (2.5 yrs) +31.4%.

#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
1	TPL	Texas Pacific Land	1.15%	Energy	+26.2%	+0.30%
2	XOM	ExxonMobil	0.99%	Energy	+43.2%	+0.43%
3	CVX	Chevron	0.99%	Energy	+43.0%	+0.43%
4	COP	ConocoPhillips	0.99%	Energy	+46.4%	+0.46%
5	LNG	Cheniere Energy	0.99%	Energy	+44.1%	+0.44%
9	EPD	Enterprise Products	0.99%	Energy	+17.8%	+0.18%
10	EOG	EOG Resources	0.99%	Energy	+44.6%	+0.44%
11	OXY	Occidental	0.99%	Energy	+48.2%	+0.48%
14	PLTR	Palantir	1.54%	Defense	+17.6%	+0.27%
17	LMT	Lockheed Martin	1.54%	Defense	+7.3%	+0.11%
18	HWM	Howmet Aerospace	1.54%	Defense	+10.0%	+0.16%
19	NOC	Northrop Grumman	1.54%	Defense	−14.7%	−0.23%
20	LHX	L3Harris	1.54%	Defense	−18.3%	−0.28%
21	GD	General Dynamics	1.54%	Defense	+0.2%	+0.00%
23	GE	GE Aerospace	1.54%	Defense	+0.5%	+0.01%	ADD 4/16 — Engines for Apaches, F-15s; $40B+ orderbook
25	RTX	RTX Corp	1.54%	Defense	+2.5%	+0.04%
26	NVDA	NVIDIA	1.21%	AI	+23.2%	+0.28%
27	AVGO	Broadcom	0.76%	AI Semis	+5.0%	+0.04%
28	CRWD	CrowdStrike	1.08%	Cyber	+134.7%	+1.46%
29	PANW	Palo Alto Networks	1.08%	Cyber	+127.4%	+1.38%
30	ANET	Arista Networks	1.08%	AI Infra	+65.4%	+0.71%
31	ORCL	Oracle	1.08%	AI/Data	−26.5%	−0.29%
32	SNOW	Snowflake	1.08%	Data	+68.2%	+0.74%
33	MDB	MongoDB	1.08%	Data	−8.0%	−0.09%
36	META	Meta	0.51%	AI/Ad	+9.2%	+0.05%
37	GOOGL	Alphabet	0.51%	AI/Cloud	+12.6%	+0.06%
38	MSFT	Microsoft	0.51%	AI/Cloud	+11.3%	+0.06%
6	MRVL	Marvell Technology	1.5%	Tech / Semis · AI / Custom Silicon	+224.5%	+3.38%	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
42	JPM	JPMorgan	1.14%	Bank	+5.3%	+0.06%
43	GS	Goldman Sachs	1.14%	Bank	+3.4%	+0.04%
44	MS	Morgan Stanley	1.14%	Bank	+8.8%	+0.10%
45	BAC	Bank of America	2.76%	Bank	+0.4%	+0.01%
49	BRK.B	Berkshire	1.14%	Conglom	+2.6%	+0.03%
54	GEV	GE Vernova	1.08%	Power	+54.0%	+0.59%
55	EME	EMCOR	1.08%	Infra	+29.3%	+0.32%
56	PWR	Quanta Services	1.08%	DC/Power	+67.4%	+0.73%
57	VRT	Vertiv	1.08%	DC Infra	+50.0%	+0.54%
61	AAPL	Apple	0.56%	Tech/Mag7	+24.2%	+0.14%
62	AMZN	Amazon	0.56%	Tech/Mag7	+13.7%	+0.08%
63	TSLA	Tesla	0.56%	Tech/Mag7	−14.9%	−0.08%
65	IAU	iShares Gold	1.30%	Gold	−2.8%	−0.04%
66	GDX	Gold Miners ETF	1.30%	Gold Min	+4.1%	+0.05%
73	COST	Costco	2.52%	Staples	+10.3%	+0.26%
74	WMT	Walmart	0.72%	Staples	+0.6%	+0.00%
75	LLY	Eli Lilly	1.73%	Pharma	+10.3%	+0.18%
80	SLB	Schlumberger	0.98%	Energy	+29.6%	+0.29%	ADD Apr 23 — international oilfield leverage
81	BA	Boeing	2.16%	Defense/Aero	−12.3%	−0.27%	ADD Apr 23 — Q1 cash-flow positive
	TOTAL		99.50%
78	UNH	UnitedHealth Group	1.08%	Healthcare	+17.2%	+0.19%	NEW Apr 22 — Q1 beat + raised guidance, managed-care rebound
79	HAL	Halliburton	0.86%	Energy	+16.8%	+0.14%	ADD Apr 22 — WTI $92 Iran-talks stall, oilfield leverage
+	INTC	Intel	1.35%	Tech	+183.7%	+2.49%	NEW May 09 — Apple foundry pact validates U.S. semis revival; CHIPS Act + USG 10% stake support
+	HCA	HCA Healthcare	0.90%	Healthcare	−2.9%	−0.03%	NEW May 09 — Apr jobs report shows healthcare leading hiring; structural demographic tailwind
+	EWT	iShares MSCI Taiwan ETF	1.12%	International / EM	+79.9%	+0.90%	NEW May 09 — Taiwan +34% YTD
+	EFA	iShares MSCI EAFE Developed ex-US	1.57%	International / Developed	+9.4%	+0.15%	NEW May 09 — Developed-market diversifier
+	EWJ	iShares MSCI Japan ETF	0.90%	International / Developed	+21.9%	+0.20%	NEW May 09 — Japan corp-governance reform + yen catalyst
+	SGOV	iShares 0-3M Treasury ETF	1.47%	Fixed Income / Cash	+2.8%	+0.04%	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	ASML	ASML Holding NV	2.2%	International / Developed	+67.2%	+1.49%	desk audit May 12 (rev 3) — Netherlands - Semis - EUV lithography monopoly
+	NVO	Novo Nordisk A/S	2.2%	International / Developed	−20.3%	−0.45%	desk audit May 12 (rev 3) — Denmark - Healthcare - GLP-1 leader
+	SAP	SAP SE	2.25%	International / Developed	−10.0%	−0.23%	desk audit May 12 (rev 3) — Germany - Software - ERP global standard
+	TM	Toyota Motor Corp	2.25%	International / Developed	−13.4%	−0.30%	desk audit May 12 (rev 3) — Japan - Discretionary - Global auto leader
+	EWY	iShares MSCI Korea ETF	2.2%	International / EM	+82.3%	+1.82%	desk audit May 12 (rev 3) — Korea - Samsung-heavy proxy
+	PBR	Petrobras	1.80%	International / EM	+122.8%	+2.22%	desk audit May 12 (rev 3) — Brazil - Energy - Integrated oil major
+	IBN	ICICI Bank	1.80%	International / EM	−5.6%	−0.10%	desk audit May 12 (rev 3) — India - Financials - Banking leader
+	CPNG	Coupang Inc	1.80%	International / EM	−32.9%	−0.60%	desk audit May 12 (rev 3) — Korea - E-commerce - NYSE direct listing
+	IEF	iShares 7-10Y Treasury ETF	1.35%	Fixed Income / Duration	−4.2%	−0.06%	NEW May 09 — Intermediate Treasury duration; recession hedge
+	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.45%	Cash	+2.8%	+0.01%	Rev 1 May 12 — 0.5% liquidity buffer per the house concentration rule settlement / rebalancing reserve
39	DE	Deere	1.08%	Industrials	+34.4%	+0.37%	NEW May 13 — Soybean purchase upside; ag-equipment beneficiary
40	ADM	Archer-Daniels-Midland	0.72%	Staples	+41.8%	+0.30%	NEW May 13 — Grain trader; direct soybean purchase beneficiary
41	EBAY	eBay	1.08%	Consumer Discretionary	+30.0%	+0.33%	NEW May 13 — Board rejected $56B GameStop bid; cheap on cash flow
+	TSM	Taiwan Semiconductor	2.70%	AI Semis	+50.3%	+1.37%	NEW May 14 — Benard/Feith op-ed; chokehold on AI supply chain
+	AMKR	Amkor Technology	1.62%	AI Semis	+25.0%	+0.41%	NEW May 14 — Advanced packaging buildout in AZ; bottleneck pure-play
+	ARM	Arm Holdings	1.62%	AI Semis	+143.6%	+2.34%	Swap from SFTBY (untradeable OTC ADR) — Nasdaq-listed; SoftBank’s ~90%-owned core, AI compute IP
+	HSBC	HSBC Holdings	1.62%	International / Bank	+22.8%	+0.37%	Swap from ABNRY (untradeable OTC ADR) — NYSE-listed global bank; Asia/Europe rerate
+	NEM	Newmont	1.35%	Materials / Gold	+18.8%	+0.25%	NEW May 14 — Gold breakout to $4,697; politically-pressured Fed lights gold thesis
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	RSP	Invesco S&P 500 Equal Weight ETF	1.50%	Index / Equal-Weight	+12.5%	+0.19%	NEW Sep 1 — the concentration offset: S&P 500 Equal Weight +16.3% YTD vs +13.5% cap-weighted while the momentum index is −9% since Jul 1, its worst quarter vs the market in 25 years (WSJ Heard, Sep 1 2026) Funded Sep 4 from the concentration it hedges: META/GOOGL/MSFT/AAPL/AMZN/TSLA −0.25 each.
+	VLO	Valero Energy	1.50%	Energy / Refining	+170.4%	+2.57%	NEW Sep 4 — the book’s first refiner: U.S. refiners above 97% utilization, 128 fewer refineries than 1982, a diesel crack spread above $100 a barrel and a three-to-five-year build for any competitor; a starter weight because the war premium ends (WSJ Markets, Sep 4 2026) Funded Sep 4 within Energy: XOM/CVX/COP/LNG/EPD/EOG/OXY −0.20 each, SLB −0.10.

Investment Policy Statement

Risk band: Tolerate -18% to -28% peak-to-trough
Time horizon: 7-10+ years
Liquidity need: Moderate — 5% bond / cash sleeve + 0.5% cash buffer
Return objective: S&P 500 + 1.5-2% annualized over 10 years
Rebalancing trigger: When any sector deviates >4% from target
Excluded screens: None — open mandate. Custom values screens available on request

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding
Acceptable: Traditional IRA / 401(k) — tax-deferred
Avoid for high-bracket: Taxable brokerage if you can't absorb K-1 pipeline filings

Effective Theme Exposure

AI / Tech / Semis~18%
Defense / Aero~15%
Energy / Pipelines~13%
Banks / Financials~6%
Power & DC Infra~5%
Healthcare / Staples / Pharma~9%
International (8 international names: ASML, NVO, SAP, TM, EWY, PBR, IBN, CPNG)16.5%
Bonds (SGOV + IEF)2.82%
Cash buffer (settlement reserve)0.5%

+ 82 more positions in this model

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Capital Wealth Aggressive Growth · $500K · Fundamentals (Tier IV-B)

Fundamentals core book — 68 positions selected via fundamentals-grounded earnings, balance-sheet, and secular-thesis analysis. Tilts toward businesses with durable competitive moats, growing free cash flow, and conservative leverage. Fullest expression: all themes, broadened international (23% — 8 individual ADRs/single-country ETFs plus Taiwan/EFA/Japan/Eurozone satellites), 4.5% bond/cash sleeve (TIP + SGOV + IEF). Position count consolidated from 120 per the house concentration rule best practice. Portal-synced via slug aggressive_500k. Methodology distinction: Fundamentals Core picks come from earnings analysis; for daily-news tactical companions see Tier IV-A Tactical Conviction. Performance (current weights, Oct 9 close): YTD +30.0% · 1-yr +32.7% · annualized since inception (2.5 yrs) +31.0%.

#	Ticker	Company	Weight	Sector	YTD %	Contrib	Notes
1	TPL	Texas Pacific Land	0.66%	Energy	+26.2%	+0.17%
2	XOM	ExxonMobil	0.71%	Energy	+43.2%	+0.31%
3	CVX	Chevron	0.71%	Energy	+43.0%	+0.31%
4	COP	ConocoPhillips	0.71%	Energy	+46.4%	+0.33%
5	LNG	Cheniere Energy	0.71%	Energy	+44.1%	+0.31%
9	EPD	Enterprise Products	0.71%	Energy	+17.8%	+0.13%
10	EOG	EOG Resources	0.71%	Energy	+44.6%	+0.32%
11	OXY	Occidental	0.71%	Energy	+48.2%	+0.34%
12	DVN	Devon Energy	0.71%	Energy	+34.2%	+0.24%
16	FANG	Diamondback	0.71%	Energy	+30.0%	+0.21%
17	SLB	Schlumberger	0.71%	Energy	+29.6%	+0.21%
18	HAL	Halliburton	0.86%	Energy	+16.8%	+0.14%
19	PLTR	Palantir	1.25%	Defense	+17.6%	+0.22%
22	LMT	Lockheed Martin	1.25%	Defense	+7.3%	+0.09%
23	HWM	Howmet Aerospace	1.25%	Defense	+10.0%	+0.13%
24	NOC	Northrop Grumman	1.25%	Defense	−14.7%	−0.18%
25	LHX	L3Harris	1.25%	Defense	−18.3%	−0.23%
26	GD	General Dynamics	1.25%	Defense	+0.2%	+0.00%
27	OSK	Oshkosh Corp	1.25%	Defense	+0.8%	+0.01%	ADD 4/16 — Pentagon named; JLTV/M-ATV builder
28	GE	GE Aerospace	1.25%	Defense	+0.5%	+0.01%	ADD 4/16 — Dual-use engines, $40B+ orderbook
29	RKLB	Rocket Lab	0.87%	Defense	−2.2%	−0.02%	ADD 4/16 — Tier-2 drone/munitions spec
30	RTX	RTX Corp	1.25%	Defense	+2.5%	+0.03%
31	BA	Boeing	2.30%	Defense	−12.3%	−0.28%
32	HII	HII	1.25%	Defense	−21.2%	−0.27%
33	NVDA	NVIDIA	1.09%	AI	+23.2%	+0.25%
34	AVGO	Broadcom	0.65%	AI Semis	+5.0%	+0.03%
35	CRWD	CrowdStrike	0.95%	Cyber	+134.7%	+1.29%
36	PANW	Palo Alto Networks	0.95%	Cyber	+127.4%	+1.22%
37	ANET	Arista Networks	0.95%	AI Infra	+65.4%	+0.62%
38	ORCL	Oracle	0.95%	AI/Data	−26.5%	−0.25%
39	SNOW	Snowflake	0.95%	Data	+68.2%	+0.65%
40	MDB	MongoDB	0.95%	Data	−8.0%	−0.08%
41	CSCO	Cisco	0.95%	AI Net	+56.5%	+0.54%
43	META	Meta	0.40%	AI/Ad	+9.2%	+0.04%
44	GOOGL	Alphabet	0.40%	AI/Cloud	+12.6%	+0.05%
45	MSFT	Microsoft	0.40%	AI/Cloud	+11.3%	+0.05%
6	MRVL	Marvell Technology	1.5%	Tech / Semis · AI / Custom Silicon	+224.5%	+3.38%	Custom AI silicon — Huang's “next trillion-dollar company” (WSJ Jun 3); memory-rally leader (WSJ Jul 10)
51	JPM	JPMorgan	0.86%	Bank	+5.3%	+0.05%
52	GS	Goldman Sachs	0.86%	Bank	+3.4%	+0.03%
53	MS	Morgan Stanley	0.86%	Bank	+8.8%	+0.08%
54	BAC	Bank of America	2.60%	Bank	+0.4%	+0.01%
58	BRK.B	Berkshire	0.86%	Conglom	+2.6%	+0.02%
59	PGR	Progressive	0.86%	Insurance	+1.7%	+0.01%
67	GEV	GE Vernova	0.86%	Power	+54.0%	+0.47%
68	EME	EMCOR	0.86%	Infra	+29.3%	+0.25%
69	PWR	Quanta Services	0.86%	DC/Power	+67.4%	+0.58%
70	VRT	Vertiv	0.86%	DC Infra	+50.0%	+0.43%
74	AAPL	Apple	0.40%	Tech/Mag7	+24.2%	+0.10%
75	AMZN	Amazon	0.40%	Tech/Mag7	+13.7%	+0.06%
76	TSLA	Tesla	0.40%	Tech/Mag7	−14.9%	−0.06%
79	CAT	Caterpillar	0.86%	Infra	+40.6%	+0.35%
80	IAU	iShares Gold	0.86%	Gold	−2.8%	−0.02%
81	GDX	Gold Miners ETF	0.86%	Gold Min	+4.1%	+0.04%
82	WPM	Wheaton PM	0.86%	Gold/Silv	+18.5%	+0.16%
92	COST	Costco	0.17%	Staples	+10.3%	+0.02%
93	WMT	Walmart	0.17%	Staples	+0.6%	+0.00%
94	LLY	Eli Lilly	0.86%	Pharma	+10.3%	+0.09%
97	PG	Procter & Gamble	0.17%	Staples	+7.9%	+0.01%
	TOTAL		99.50%
104	UNH	UnitedHealth Group	0.86%	Healthcare	+17.2%	+0.15%	NEW Apr 22 — Q1 beat + raised guidance, managed-care rebound
+	INTC	Intel	0.87%	Tech	+183.7%	+1.61%	NEW May 09 — Apple foundry pact validates U.S. semis revival; CHIPS Act + USG 10% stake support
+	HCA	HCA Healthcare	1.31%	Healthcare	−2.9%	−0.04%	NEW May 09 — Apr jobs report shows healthcare leading hiring; structural demographic tailwind
+	SONY	Sony	0.44%	Consumer Discretionary	−5.8%	−0.03%	NEW May 09 — Double-digit FY guide; entertainment/PlayStation cash flows durable
+	EWT	iShares MSCI Taiwan ETF	1.09%	International / EM	+79.9%	+0.88%	NEW May 09 — Taiwan +34% YTD
+	EFA	iShares MSCI EAFE Developed ex-US	0.99%	International / Developed	+9.4%	+0.09%	NEW May 09 — Developed-market diversifier
+	EWJ	iShares MSCI Japan ETF	1.31%	International / Developed	+21.9%	+0.29%	NEW May 09 — Japan corp-governance + yen catalyst
+	EZU	iShares MSCI Eurozone ETF	0.34%	International / Developed	+4.6%	+0.02%	NEW May 09 — Eurozone reconstruction optionality if truce extends
+	INDA	iShares MSCI India ETF	0.87%	International / EM	−14.8%	−0.13%	NEW May 09 — India structural growth + demographic dividend
+	SGOV	iShares 0-3M Treasury ETF	1.46%	Fixed Income / Cash	+2.8%	+0.04%	Sep 1 — TIP retired to T-bills: SGOV +2.4% YTD vs TIP +0.3%; the reserve carries no price risk while the Fed holds or hikes
+	ASML	ASML Holding NV	2.55%	International / Developed	+67.2%	+1.72%	desk audit May 12 (rev 3) — Netherlands - Semis - EUV lithography monopoly
+	NVO	Novo Nordisk A/S	2.11%	International / Developed	−20.3%	−0.43%	desk audit May 12 (rev 3) — Denmark - Healthcare - GLP-1 leader
+	SAP	SAP SE	2.61%	International / Developed	−10.0%	−0.26%	desk audit May 12 (rev 3) — Germany - Software - ERP global standard
+	TM	Toyota Motor Corp	2.61%	International / Developed	−13.4%	−0.35%	desk audit May 12 (rev 3) — Japan - Discretionary - Global auto leader
+	EWY	iShares MSCI Korea ETF	2.55%	International / EM	+82.3%	+2.11%	desk audit May 12 (rev 3) — Korea - Samsung-heavy proxy
+	PBR	Petrobras	2.18%	International / EM	+122.8%	+2.69%	desk audit May 12 (rev 3) — Brazil - Energy - Integrated oil major
+	IBN	ICICI Bank	2.18%	International / EM	−5.6%	−0.12%	desk audit May 12 (rev 3) — India - Financials - Banking leader
+	CPNG	Coupang Inc	1.74%	International / EM	−32.9%	−0.58%	desk audit May 12 (rev 3) — Korea - E-commerce - NYSE direct listing
+	IEF	iShares 7-10Y Treasury ETF	1.31%	Fixed Income / Duration	−4.2%	−0.06%	NEW May 09 — Intermediate-Treasury duration
+	CASH	Cash / Operational Reserve (SGOV settlement buffer)	0.44%	Cash	+2.8%	+0.01%	Rev 1 May 12 — 0.5% liquidity buffer per the house concentration rule settlement / rebalancing reserve
39	DE	Deere	1.05%	Industrials	+34.4%	+0.36%	NEW May 13 — Soybean purchase upside; ag-equipment beneficiary
40	ADM	Archer-Daniels-Midland	0.70%	Staples	+41.8%	+0.29%	NEW May 13 — Grain trader; direct soybean purchase beneficiary
41	EBAY	eBay	1.05%	Consumer Discretionary	+30.0%	+0.32%	NEW May 13 — Board rejected $56B GameStop bid; cheap on cash flow
+	TSM	Taiwan Semiconductor	2.61%	AI Semis	+50.3%	+1.32%	NEW May 14 — Benard/Feith op-ed; chokehold on AI supply chain
+	AMKR	Amkor Technology	1.74%	AI Semis	+25.0%	+0.44%	NEW May 14 — Advanced packaging buildout in AZ; bottleneck pure-play
+	ARM	Arm Holdings	1.74%	AI Semis	+143.6%	+2.51%	Swap from SFTBY (untradeable OTC ADR) — Nasdaq-listed; SoftBank’s ~90%-owned core, AI compute IP
+	HSBC	HSBC Holdings	1.74%	International / Bank	+22.8%	+0.40%	Swap from ABNRY (untradeable OTC ADR) — NYSE-listed global bank; Asia/Europe rerate
+	NEM	Newmont	1.57%	Materials / Gold	+18.8%	+0.30%	NEW May 14 — Gold breakout to $4,697; politically-pressured Fed lights gold thesis
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	VGK	Vanguard FTSE Europe ETF	1.50%	International / Diversifier	+5.0%	+0.08%	NEW Aug 22 — Stoxx 600 EPS +18% (+7% ex-energy); ~10% tech weight vs ~40% S&P — the honest AI-concentration offset (WSJ Heard, Aug 22) Funded Sep 4 within International: EFA −0.75, EZU −0.75 (the Europe overlap).
+	RSP	Invesco S&P 500 Equal Weight ETF	1.50%	Index / Equal-Weight	+12.5%	+0.19%	NEW Sep 1 — the concentration offset: S&P 500 Equal Weight +16.3% YTD vs +13.5% cap-weighted while the momentum index is −9% since Jul 1, its worst quarter vs the market in 25 years (WSJ Heard, Sep 1 2026) Funded Sep 4 from the concentration it hedges: META/GOOGL/MSFT/AAPL/AMZN/TSLA −0.25 each.
+	VLO	Valero Energy	1.50%	Energy / Refining	+170.4%	+2.57%	NEW Sep 4 — the book’s first refiner: U.S. refiners above 97% utilization, 128 fewer refineries than 1982, a diesel crack spread above $100 a barrel and a three-to-five-year build for any competitor; a starter weight because the war premium ends (WSJ Markets, Sep 4 2026) Funded Sep 4 within Energy: XOM/CVX/COP/LNG/EPD/EOG/OXY/DVN/FANG/SLB −0.15 each.

Investment Policy Statement

Risk band: Tolerate -15% to -25% peak-to-trough
Time horizon: 6-10+ years
Liquidity need: Moderate — 5% bond / cash sleeve + 0.5% cash buffer
Return objective: S&P 500 + 1-1.5% annualized over 10 years
Rebalancing trigger: When any sector deviates >3% from target
Excluded screens: None — open mandate. Custom values screens available on request

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — tax-free compounding
Acceptable: Traditional IRA / 401(k) — tax-deferred; or taxable brokerage (muni sleeve helps high-bracket clients)
Avoid for high-bracket: High-tax-state taxable without the muni sleeve — switch to MUB-weighted version

Effective Theme Exposure

AI / Tech / Semis~16%
Defense / Aero~17%
Energy / Pipelines~12%
Banks / Financials~5%
Power & DC Infra~5%
Healthcare / Staples / Pharma~9%
International (8 international names: ASML, NVO, SAP, TM, EWY, PBR, IBN, CPNG)18.53%
Bonds (SGOV + IEF)2.77%
Cash buffer (settlement reserve)0.5%

+ 105 more positions in this model

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Capital Wealth North Star Faith-Based 50 · $50K · Screened Core

The North Star, run through the faith-based screen, at $50K: 34 names over a 10.0% sukuk reserve (SPSK), 1.59% trailing yield. Same sleeves and the same watch list as the North Star; every single stock passes the Musaffa (AAOIFI) screen and is not questionable on Zoya, funds are Shariah ETFs, and the weapons primes, banks, insurers and Treasury bills are out by construction. Reserve held at 10% for the aggressive risk profile. Principal first: how a RILA stands up to the faith test → Performance (current weights, Oct 9 close): YTD +30.1% · 1-yr +33.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SPSK	SP Funds Dow Jones Global Sukuk ETF	10.00%	Reserve	−2.2%	−0.22%	Sukuk fund in place of Treasury bills; the reserve of a screened book, held for the same three dates as the North Star’s.
2	SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	8.45%	Core	+19.4%	+1.65%	S&P 500 Shariah core; carries MSFT and GOOGL under the index board’s screen, the only way they enter this book.
3	HLAL	Wahed FTSE USA Shariah ETF	3.18%	Core	+22.7%	+0.73%	FTSE USA Shariah core; a second board’s screen beside SPUS.
4	XOM	ExxonMobil	4.24%	Energy	+43.2%	+1.84%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
5	CVX	Chevron	3.71%	Energy	+43.0%	+1.60%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
6	EOG	EOG Resources	2.65%	Energy	+44.6%	+1.19%	Low-debt shale producer; the add on the list.
7	TPL	Texas Pacific Land	2.65%	Energy	+26.2%	+0.70%	Permian royalties with no debt; the cleanest oil name on the screen.
8	SLB	SLB (Schlumberger)	1.59%	Energy	+29.6%	+0.47%	Oilfield services; the add on the list.
9	NVDA	NVIDIA	4.77%	AI / Tech	+23.2%	+1.11%	Held at weight, not added to; the spender-versus-supplier question is open.
10	AAPL	Apple	3.71%	AI / Tech	+24.2%	+0.90%	Core position; the iPhone Duo is the first foldable with real share.
11	AVGO	Broadcom	3.18%	AI / Tech	+5.0%	+0.16%	Custom silicon and networking; flat YTD after a 50% 2025.
12	TSM	Taiwan Semiconductor	3.18%	AI / Tech	+50.3%	+1.61%	The foundry everyone above depends on.
13	TSLA	Tesla	2.12%	AI / Tech	−14.9%	−0.32%	Reinforce on the list; passes both screens.
14	CRWD	CrowdStrike	1.85%	AI / Tech	+134.7%	+2.50%	Cyber platform; small after +18% on the week.
15	TXN	Texas Instruments	1.85%	AI / Tech	+66.3%	+1.23%	Analog chips, 2.1% yield; the industrial side of semis.
16	ARM	Arm Holdings	1.32%	AI / Tech	+143.6%	+1.91%	Licensing royalty on every chip in the build-out.
17	MU	Micron	1.32%	AI / Tech	+260.7%	+3.46%	Memory; the Sept. 30 print decides the next add.
18	GEV	GE Vernova	3.18%	Power / Infra	+54.0%	+1.73%	Grid builder: turbines, grid gear, nuclear services.
19	PWR	Quanta Services	2.38%	Power / Infra	+67.4%	+1.61%	The contractor that builds the grid the data centers need.
20	VRT	Vertiv	1.32%	Power / Infra	+50.0%	+0.66%	Data-center power and cooling; the add on the list.
21	CCJ	Cameco	1.06%	Power / Infra	−3.8%	−0.04%	Uranium; the fuel behind the nuclear demand story.
22	MSI	Motorola Solutions	2.65%	Security & Aerospace	+16.8%	+0.45%	Public-safety radios and video; the security seat without a weapons line.
23	AME	AMETEK	1.59%	Security & Aerospace	+21.6%	+0.35%	Precision instruments and aerospace components; passes the screen.
24	IAU	iShares Gold Trust	5.83%	Gold	−2.8%	−0.17%	Permanent insurance, not a trade on one meeting.
25	AEM	Agnico Eagle Mines	1.59%	Gold	+12.2%	+0.20%	Senior gold miner with a clean balance sheet; the one miner that passes.
26	LLY	Eli Lilly	3.18%	Healthcare	+10.3%	+0.33%	GLP-1 franchise; trimmed from the tactical weight.
27	JNJ	Johnson & Johnson	2.38%	Healthcare	+28.4%	+0.68%	Diversified; the sleeve’s ballast.
28	AZN	AstraZeneca	1.59%	Healthcare	−12.5%	−0.20%	Oncology pipeline, 2% yield.
29	MRK	Merck	1.32%	Healthcare	+41.2%	+0.55%	Keytruda franchise; passes the screen where ABBV does not.
30	PG	Procter & Gamble	2.65%	Staples / Consumer	+7.9%	+0.21%	Pricing power; the sleeve the letter says earns its keep on the way down.
31	KO	Coca-Cola	2.12%	Staples / Consumer	+28.4%	+0.60%	Global staple; 2.3% yield.
32	SPRE	SP Funds S&P Global REIT Sharia ETF	1.59%	Real Assets	−2.2%	−0.04%	Global REIT Shariah fund; real-asset income in place of the banks.
33	SPWO	SP Funds S&P World ex-US Sharia ETF	3.18%	International	+23.9%	+0.76%	World ex-US Shariah fund; the international seat in place of EWY and VGK.
34	ETN	Eaton	2.12%	Industrials	+36.0%	+0.77%	Electrical equipment for the grid and the data center.
	TOTAL		99.50%

+ 29 more positions in this book

Top 5 holdings shown above. Clients see every position, the screen verdict on every name, and how a RILA can protect principal beside the book.

Become a client →

Investment Policy Statement

Risk band: Tolerate -22% to -30% peak-to-trough
Time horizon: 8-10+ years
Liquidity need: Low — a 10% sukuk reserve (SPSK) in place of Treasury bills; the 0.5% settlement buffer is disclosed
Return objective: S&P 500 + 1.5% annualized over 10 years
Rebalancing trigger: Any sleeve more than 4% from target, any single stock over 5%, or a holding’s screen verdict changing
Excluded screens: Musaffa (AAOIFI) and Zoya — no conventional banks or insurers, no interest-bearing bonds, no alcohol / tobacco / pork / gambling / adult content, no weapons primes; debt and interest-income thresholds per AAOIFI

Tax Location Guidance

Best fit: Roth IRA, Roth 403(b), HSA — the screen is portable across account types
Acceptable: Traditional IRA / 401(k), taxable brokerage with the SPUS / HLAL core
Note: The screen is preserved in every account type — no tax-driven trade overrides it; where a platform sweeps cash to interest, hold the buffer as SPSK

Effective Theme Exposure

Sukuk fund (SPSK)10.00%
Core · Shariah ETFs (SPUS / HLAL)11.63%
Energy (XOM / CVX / EOG / TPL / SLB)14.84%
AI / Tech (NVDA / AAPL / AVGO / TSM / TSLA / CRWD / TXN / ARM / MU)23.30%
Power & Infra (GEV / PWR / VRT / CCJ)7.94%
Security & Aerospace (MSI / AME)4.24%
Gold (IAU / AEM)7.42%
Healthcare (LLY / JNJ / AZN / MRK)8.47%
Staples (PG / KO)4.77%
Real Assets (SPRE)1.59%
International (SPWO)3.18%
Industrials (ETN)2.12%
Cash buffer · settlement0.50%
Total100.00%

Capital Wealth Dividend Income · Diversified

Conservative $40K (Yield ~3.8%)

#	Ticker	Company	Weight	Yield	YTD %	Contrib	Sector	Notes
1	XOM	Exxon Mobil	5.24%	2.6%	+43.2%	+2.28%	Energy Div
2	CVX	Chevron	5.24%	3.5%	+43.0%	+2.26%	Energy Div
3	ENB	Enbridge	3.50%	5.9%	+1.4%	+0.05%	Energy Div
4	EPD	Enterprise Products	3.50%	6.4%	+17.8%	+0.62%	Energy Div
5	JNJ	Johnson & Johnson	4.37%	2.2%	+28.4%	+1.25%	Div Growth
6	PG	Procter & Gamble	4.37%	2.9%	+7.9%	+0.35%	Div Growth
7	KO	Coca-Cola	4.37%	2.4%	+28.4%	+1.25%	Div Growth
8	PEP	PepsiCo	4.37%	4.3%	−9.6%	−0.42%	Div Growth
9	VTIP	Vanguard Short-Term TIPS ETF	8.72%	4.2%	+1.3%	+0.11%	TIPS/Fixed	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
10	SGOV	iShares 0-3M Treasury	1.49%	3.7%	+2.8%	+0.04%	TIPS/Fixed
11	IAU	iShares Gold	8.73%	—	−2.8%	−0.25%	Gold
12	GDX	VanEck Gold Miners	4.37%	0.6%	+4.1%	+0.18%	Gold
13	JPM	JPMorgan	4.37%	1.7%	+5.3%	+0.23%	Financials
14	BAC	Bank of America	4.37%	1.9%	+0.4%	+0.02%	Financials
15	ALL	Allstate	4.37%	1.7%	+11.8%	+0.52%	Financials
16	ET	Energy Transfer	4.37%	6.4%	—	—	Midstream
17	MPLX	MPLX LP	4.37%	7.4%	+11.7%	+0.51%	Midstream
18	KMI	Kinder Morgan	4.37%	3.8%	+21.6%	+0.95%	Midstream
19	SCHD	Schwab US Div ETF	4.37%	3.0%	+23.4%	+1.03%	Div ETF
+	UAL	United Airlines	0.39%	0.0%	−3.9%	−0.02%	Industrials	NEW Apr 25 — Kirby premium-loyalty moat
+	BP	BP plc	0.26%	4.5%	+38.1%	+0.10%	Energy	NEW Apr 25 — Iraq Rumaila asymmetric recovery
+	CCJ	Cameco	0.39%	0.3%	−3.8%	−0.01%	Power/Infra	NEW Apr 25 — Uranium upstream — X-Energy IPO validates
+	URA	Uranium Miners ETF	0.26%	4.6%	−9.0%	−0.02%	Power/Infra	NEW Apr 25 — Diversified uranium ETF
+	XLE	Energy Select SPDR	0.53%	3.4%	+48.4%	+0.26%	Energy	NEW Apr 25 — Macro overlay for +2% Energy lift
+	HSBC	HSBC Holdings	1.33%	—	+22.8%	+0.30%	International / Bank	Swap from ABNRY (untradeable OTC ADR) — NYSE-listed global bank; Asia/Europe rerate; ~6% dividend yield
+	NEM	Newmont	1.07%	0.8%	+18.8%	+0.20%	Materials / Gold	NEW May 14 — Gold breakout to $4,697; income via 2.5% yield
+	MO	Altria Group	1.96%	~6.7%	+30.3%	+0.60%	Tobacco / Defensive
+	PM	Philip Morris Intl	1.72%	~3.1%	+28.7%	+0.50%	Tobacco / Defensive
+	BTI	British American Tobacco	1.23%	~6.0%	+2.4%	+0.03%	Tobacco / Defensive
+	USFR	WisdomTree Floating Rate Treasury	1.50%	3.8%	+3.0%	+0.05%	Income / Rates	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Moderate $100K

#	Ticker	Company	Weight	Yield	YTD %	Contrib	Sector	Notes
20	XOM	Exxon Mobil	5.20%	2.5%	+43.2%	+2.26%	Energy Div
21	CVX	Chevron	5.20%	3.3%	+43.0%	+2.25%	Energy Div
22	ENB	Enbridge	3.47%	—	+1.4%	+0.05%	Energy Div
23	EPD	Enterprise Products	3.47%	5.7%	+17.8%	+0.62%	Energy Div
24	JNJ	Johnson & Johnson	3.47%	1.9%	+28.4%	+0.99%	Div Growth
25	PG	Procter & Gamble	3.47%	2.9%	+7.9%	+0.27%	Div Growth
26	KO	Coca-Cola	3.47%	2.4%	+28.4%	+0.99%	Div Growth
27	PEP	PepsiCo	3.47%	4.3%	−9.6%	−0.33%	Div Growth
28	LMT	Lockheed Martin	3.47%	2.5%	+7.3%	+0.25%	Div Growth
29	SCHD	Schwab US Div ETF	6.93%	3.0%	+23.4%	+1.63%	Div ETF
30	JEPI	JPM Equity Premium	4.33%	8.0%	+5.3%	+0.23%	Covered Call
31	VTIP	Vanguard Short-Term TIPS ETF	6.93%	4.2%	+1.3%	+0.09%	TIPS/Fixed	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
32	SGOV	iShares 0-3M Treasury	3.09%	3.7%	+2.8%	+0.09%	TIPS/Fixed
33	IAU	iShares Gold	8.61%	—	−2.8%	−0.24%	Gold
34	GDX	VanEck Gold Miners	4.33%	0.6%	+4.1%	+0.18%	Gold
35	JPM	JPMorgan	4.33%	1.7%	+5.3%	+0.23%	Financials
36	BAC	Bank of America	4.33%	1.9%	+0.4%	+0.02%	Financials
37	ALL	Allstate	4.33%	1.7%	+11.8%	+0.51%	Financials
38	ET	Energy Transfer	3.47%	6.4%	—	—	Midstream
39	MPLX	MPLX LP	3.47%	7.4%	+11.7%	+0.41%	Midstream
40	KMI	Kinder Morgan	2.60%	3.8%	+21.6%	+0.56%	Midstream
41	WMB	Williams Companies	3.47%	2.9%	+23.5%	+0.82%	Midstream
+	MO	Altria Group	1.69%	~6.7%	+30.3%	+0.52%	Tobacco / Defensive
+	PM	Philip Morris Intl	1.69%	~3.1%	+28.7%	+0.49%	Tobacco / Defensive
+	BTI	British American Tobacco	1.21%	~6.0%	+2.4%	+0.03%	Tobacco / Defensive

Aggressive $100K

#	Ticker	Company	Weight	Yield	YTD %	Contrib	Sector	Notes
42	XOM	Exxon Mobil	5.79%	2.5%	+43.2%	+2.51%	Energy Div
43	CVX	Chevron	5.79%	3.3%	+43.0%	+2.50%	Energy Div
44	LNG	Cheniere Energy	2.48%	0.8%	+44.1%	+1.10%	Energy Div
45	ENB	Enbridge	2.48%	—	+1.4%	+0.03%	Energy Div
46	LMT	Lockheed Martin	4.14%	2.5%	+7.3%	+0.30%	Div Growth
47	RTX	RTX Corp	3.31%	1.4%	+2.5%	+0.08%	Div Growth
48	JNJ	Johnson & Johnson	2.48%	1.9%	+28.4%	+0.71%	Div Growth
49	PG	Procter & Gamble	2.48%	2.9%	+7.9%	+0.20%	Div Growth
50	AVGO	Broadcom	4.14%	0.8%	+5.0%	+0.21%	Div Growth
51	SCHD	Schwab US Div ETF	4.97%	3.0%	+23.4%	+1.17%	Div ETF
52	JEPI	JPM Equity Premium	4.14%	8.0%	+5.3%	+0.22%	Covered Call
53	JEPQ	JPM Nasdaq Premium	3.31%	10.8%	+14.9%	+0.50%	Covered Call
54	VTIP	Vanguard Short-Term TIPS ETF	4.97%	4.2%	+1.3%	+0.06%	TIPS/Fixed	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
55	SGOV	iShares 0-3M Treasury	0.41%	3.7%	+2.8%	+0.01%	TIPS/Fixed
56	IAU	iShares Gold	7.46%	—	−2.8%	−0.21%	Gold
57	GDX	VanEck Gold Miners	4.97%	0.6%	+4.1%	+0.20%	Gold
58	JPM	JPMorgan	3.31%	1.7%	+5.3%	+0.18%	Financials
59	GS	Goldman Sachs	3.31%	1.8%	+3.4%	+0.11%	Financials
60	ALL	Allstate	3.31%	1.7%	+11.8%	+0.39%	Financials
61	BAC	Bank of America	2.48%	1.9%	+0.4%	+0.01%	Financials
62	ET	Energy Transfer	2.48%	6.4%	—	—	Midstream
63	MPLX	MPLX LP	2.48%	7.4%	+11.7%	+0.29%	Midstream
64	WMB	Williams Companies	2.48%	2.9%	+23.5%	+0.59%	Midstream
65	KMI	Kinder Morgan	2.48%	3.8%	+21.6%	+0.54%	Midstream
66	HAL	Halliburton	1.66%	2.0%	+16.8%	+0.28%	Energy
67	SLB	Schlumberger	1.66%	2.2%	+29.6%	+0.49%	Energy
68	BA	Boeing	2.07%	0.0%	−12.3%	−0.26%	Defense/Aero
69	TXN	Texas Instruments	1.49%	2.2%	+66.3%	+0.99%	Semis
38	BF.B	Brown-Forman	1.24%	3.5%	+4.0%	+0.05%	Staples	NEW May 13 — Rejected $15B Sazerac; Dividend Aristocrat at clearance
40	EBAY	eBay	0.82%	1.1%	+30.0%	+0.25%	Consumer Discretionary	NEW May 13 — Board defended franchise; sticky FCF
+	PM	Philip Morris Intl	1.96%	~3.1%	+28.7%	+0.57%	Tobacco / Defensive
+	MO	Altria Group	1.72%	~6.7%	+30.3%	+0.52%	Tobacco / Defensive
+	BTI	British American Tobacco	1.23%	~6.0%	+2.4%	+0.03%	Tobacco / Defensive

+ 69 more positions in this model

Top 5 holdings shown above. Become a Capital Wealth client to see every position, sector weight, and contribution.

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Thesis — Diversified high-conviction income book. Jul 11: tobacco sleeve added (MO / PM) across the dividend books — the evidence: Jeremy Siegel’s study of the original 1957 S&P 500 found Philip Morris the single best performer through 2003 (+19.75%/yr vs +10.85%); high-yield staples with pricing power belong in an income mandate. 81 positions across dividend leaders, REITs, MLPs, and high-yield bonds. Built for clients prioritizing reliable income with measured equity participation. the house concentration rule sweet spot of 25–30 names is intentionally exceeded here because income diversification reduces single-issuer dividend-cut risk.

Investment Policy Statement

Risk band: Tolerate −15% peak-to-trough drawdown
Time horizon: 5+ years
Liquidity need: 4% income distributions; 0.5% SGOV buffer
Return objective: 5% income + 4% capital appreciation
Rebalancing trigger: ±0.5% deviation
Excluded screens: None — open mandate

Tax Location Guidance

Best fit: Roth IRA / Traditional IRA — shelters MLP / REIT ordinary income distributions
Acceptable: Taxable brokerage at the qualified-dividend rate (15-20%)
Avoid for high-bracket: High-tax-state taxable — MLPs and REITs throw off ordinary-income drag

Effective Theme Exposure

Dividend Aristocrats30%
REITs / Real Assets15%
Energy Midstream / MLPs12%
Healthcare Dividend10%
Financials / Insurance12%
Utilities8%
High-Yield Bonds7%
Preferred Stock5%
Cash buffer (SGOV settlement reserve)0.5%
Total99.5%

Capital Wealth AI & Compute Sleeve · Satellite

A composable satellite sleeve — the eight highest-conviction positions of the AI & Compute book, reweighted to stand alone. Sleeves are building blocks, not standalone plans: bolt one onto a core book inside a proposal to tilt a client toward a single theme without rebuilding the whole allocation. Derived mechanically from the parent book (top 8 by weight, renormalized) — the positions and theses are the house calls already published there. Portal-synced via slug sleeve_ai.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	NVIDIA	18.97%	AI	+23.2%	+4.43%	AI accelerator standard
2	AVGO	Broadcom	14.21%	AI Semis	+5.0%	+0.72%	Custom AI silicon + networking
3	MSFT	Microsoft	11.84%	Tech/Mag7	+11.3%	+1.35%	Azure + Copilot
4	GOOGL	Alphabet	11.84%	Tech/Mag7	+12.6%	+1.50%	TPUs + Gemini
5	TSM	Taiwan Semiconductor	11.84%	AI Semis	+50.3%	+5.99%	Foundry to the whole stack
6	MU	Micron Technology	11.84%	AI Semis / Memory	+260.7%	+31.03%	HBM/DRAM supercycle
7	ASML	ASML Holding NV	9.48%	International / Developed	+67.2%	+6.40%	EUV monopoly
8	ANET	Arista Networks	9.48%	AI Infra	+65.4%	+6.23%	Datacenter networking

Capital Wealth Energy & Oil Sleeve · Satellite

A composable satellite sleeve — the eight highest-conviction positions of the Energy sector book, reweighted to stand alone. Sleeves are building blocks, not standalone plans: bolt one onto a core book inside a proposal to tilt a client toward a single theme without rebuilding the whole allocation. Derived mechanically from the parent book (top 8 by weight, renormalized) — the positions and theses are the house calls already published there. Portal-synced via slug sleeve_energy.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	16.56%	Energy	+43.2%	+7.19%	Integrated major; Permian + Guyana growth, buyback engine
2	CVX	Chevron	16.56%	Energy	+43.0%	+7.15%	Integrated major; Hess close, low-cost barrels
3	COP	ConocoPhillips	12.43%	Energy	+46.4%	+5.80%	Lowest-cost US E&P, shale scale
4	GEV	GE Vernova	11.59%	Power	+54.0%	+6.29%	Grid + gas turbines — electrification core
5	EOG	EOG Resources	10.36%	Energy	+44.6%	+4.64%	Premium-acreage E&P, capital discipline
6	FANG	Diamondback	10.36%	Energy	+30.0%	+3.12%	Permian pure-play, low breakeven
7	LNG	Cheniere Energy	10.36%	Energy	+44.1%	+4.59%	US LNG export anchor; structural demand
8	DVN	Devon Energy	8.28%	Energy	+34.2%	+2.85%	High free-cash E&P, variable dividend
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.

Capital Wealth Defense Sleeve · Satellite

A composable satellite sleeve — the eight highest-conviction positions of the Defense sector book, reweighted to stand alone. Sleeves are building blocks, not standalone plans: bolt one onto a core book inside a proposal to tilt a client toward a single theme without rebuilding the whole allocation. Derived mechanically from the parent book (top 8 by weight, renormalized) — the positions and theses are the house calls already published there. Portal-synced via slug sleeve_defense.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	LMT	Lockheed Martin	16.30%	Defense	+7.3%	+1.19%	Prime — missiles, F-35, hypersonics
2	RTX	RTX Corp	14.47%	Defense	+2.5%	+0.36%	Prime — missiles + engines + radar
3	NOC	Northrop Grumman	14.47%	Defense	−14.7%	−2.13%	B-21, space, missile defense
4	GD	General Dynamics	12.66%	Defense	+0.2%	+0.02%	Subs, combat systems, Gulfstream
5	LHX	L3Harris	10.85%	Defense	−18.3%	−1.99%	Comms, ISR, munitions
6	HWM	Howmet Aerospace	10.85%	Aerospace	+10.0%	+1.09%	Engine + airframe structures
7	PLTR	Palantir	10.85%	Defense/AI	+17.6%	+1.92%	AIP / Gotham — the software layer
8	HII	Huntington Ingalls	9.05%	Defense	−21.2%	−1.93%	Sole builder of US carriers

Capital Wealth Dividend Sleeve · Satellite

A composable satellite sleeve — the eight highest-conviction positions of the Dividends 50 book, reweighted to stand alone. Sleeves are building blocks, not standalone plans: bolt one onto a core book inside a proposal to tilt a client toward a single theme without rebuilding the whole allocation. Derived mechanically from the parent book (top 8 by weight, renormalized) — the positions and theses are the house calls already published there. Portal-synced via slug sleeve_dividend.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend Equity ETF	19.71%	Dividend Equity	+23.4%	+4.64%	Quality dividend core ETF
2	SGOV	iShares 0-3M Treasury ETF	14.08%	Cash	+2.8%	+0.40%	T-bill cash buffer
3	DGRO	iShares Core Dividend Growth ETF	13.14%	Dividend Growth	+12.9%	+1.70%	Dividend growth ETF
4	JEPI	JPMorgan Equity Premium Income ETF	13.14%	Covered Call	+5.3%	+0.70%	Covered-call monthly income
5	MAIN	Main Street Capital	11.26%	BDC	−5.2%	−0.59%	BDC monthly dividend
6	VYM	Vanguard High Dividend Yield ETF	9.39%	Dividend Equity	+12.6%	+1.19%	High-yield dividend ETF
7	O	Realty Income	9.39%	REIT	−0.0%	−0.00%	Monthly-pay net-lease REIT
8	ENB	Enbridge	9.39%	Midstream	+1.4%	+0.13%	Midstream high yield

Capital Wealth Gold & Power Sleeve · Satellite

A composable satellite sleeve — the gold-and-power layer of the Hard Assets book: bullion ballast (IAU, NEM) plus the grid, nuclear and datacenter-power complex (GEV, CEG, VST), reweighted to stand alone. Derived mechanically: every Hard Assets position whose theme is gold, materials or power — the energy and defense layers are deliberately excluded because they live in their own sleeves, so this composes with them instead of doubling positions. Portal-synced via slug sleeve_gold_power.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	GEV	GE Vernova	24.90%	Power	+54.0%	+13.52%	Grid + gas turbines
2	IAU	iShares Gold	21.79%	Gold	−2.8%	−0.62%	Gold bullion
3	NEM	Newmont	18.64%	Materials / Gold	+18.8%	+3.52%	Gold miner leverage
4	CEG	Constellation Energy	18.64%	Power / Nuclear	−15.3%	−2.86%	Nuclear fleet
5	VST	Vistra Energy	15.53%	Power / AI Datacenter	+0.5%	+0.08%	Independent power

Capital Wealth Quantum Sleeve · Satellite

A composable satellite sleeve — the eight highest-conviction positions of the Quantum book, reweighted to stand alone. Sleeves are building blocks, not standalone plans: bolt one onto a core book inside a proposal to tilt a client toward a single theme without rebuilding the whole allocation. Derived mechanically from the parent book (top 8 by weight, renormalized) — the positions and theses are the house calls already published there. Portal-synced via slug sleeve_quantum.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	IONQ	IonQ	16.15%	Quantum Computing	−11.1%	−1.80%	Trapped-ion leader, enterprise contracts
2	IBM	IBM	14.93%	Quantum / Compute	−21.8%	−3.27%	Quantum System Two + error-correction roadmap
3	QQQM	Invesco NASDAQ-100 ETF (lower-fee class)	14.93%	Tech Tilt	+22.8%	+3.42%	Nasdaq-100 ballast for the speculative sleeve
4	GOOGL	Alphabet	13.68%	Tech/Mag7	+12.6%	+1.73%	Willow chip — error-correction milestone
5	NVDA	NVIDIA	12.44%	AI	+23.2%	+2.90%	CUDA-Q hybrid quantum-classical stack
6	RGTI	Rigetti Computing	9.95%	Quantum Computing	−36.7%	−3.67%	Superconducting gate-model, govt programs
7	QBTS	D-Wave Quantum	8.71%	Quantum Computing	−44.3%	−3.88%	Annealing + gate roadmap, commercial pilots
8	HON	Honeywell (Quantinuum)	8.71%	Quantum / Industrial	+2.9%	+0.25%	Quantinuum — highest-fidelity ion traps

Capital Wealth Dividend Funds Sleeve · Satellite

A composable satellite sleeve of dividend ETFs — quality screens (SCHD, HDV), the aristocrat raisers (NOBL, SDY), dividend growth (DGRO), broad yield (VYM) and a covered-call income pair (JEPI, JEPQ). All-fund construction — every position is a liquid ETF, so the sleeve bolts onto any account without single-stock concentration. Per-position YTD is carried by the baked performance strip rather than the table. Portal-synced via slug sleeve_dividend_funds.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend Equity ETF	24.50%	Dividend · Quality Screen	+23.4%	+5.76%	Quality + yield screen, 100 names, the core dividend-fund holding
2	VYM	Vanguard High Dividend Yield ETF	15.00%	Dividend · Broad	+12.6%	+1.89%	Broad high-yield large-cap, ~450 names, 3-bp expense
3	DGRO	iShares Core Dividend Growth ETF	15.00%	Dividend · Growth	+12.9%	+1.94%	Dividend GROWERS, 5-yr growth screen — the raise matters more than the yield
4	NOBL	ProShares S&P 500 Dividend Aristocrats	12.00%	Dividend · Aristocrats	+7.5%	+0.90%	25+ consecutive years of increases, equal-weighted
5	HDV	iShares Core High Dividend ETF	10.00%	Dividend · High Yield	+20.6%	+2.07%	Morningstar moat + financial-health screen, yield-forward
6	JEPI	JPMorgan Equity Premium Income ETF	12.00%	Income · Covered Call	+5.3%	+0.64%	Covered-call overlay on defensive equity — monthly income, lower beta
7	JEPQ	JPMorgan Nasdaq Equity Premium Income	6.00%	Income · Covered Call	+14.9%	+0.90%	The Nasdaq version — growth exposure with the income overlay
8	SDY	SPDR S&P Dividend ETF	5.00%	Dividend · Aristocrats	+9.1%	+0.46%	High Yield Dividend Aristocrats, 20+ year raisers

Capital Wealth TIPS Funds Sleeve · Satellite

A composable satellite sleeve of inflation-linked Treasury funds — the broad benchmarks (TIP, SCHP), a short-duration pair that tracks CPI with minimal rate risk (VTIP, STIP), and a long-end position for maximum real-rate conviction (LTPZ). All-fund construction — every position is a liquid ETF, so the sleeve bolts onto any account without single-stock concentration. Per-position YTD is carried by the baked performance strip rather than the table. Portal-synced via slug sleeve_tips_funds.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	TIP	iShares TIPS Bond ETF	30.00%	Inflation · Broad TIPS	−1.8%	−0.53%	The benchmark TIPS fund — full-curve inflation-linked Treasuries
2	SCHP	Schwab US TIPS ETF	25.00%	Inflation · Broad TIPS	−1.7%	−0.41%	Same full-curve exposure at 3 bp — the low-cost twin
3	VTIP	Vanguard Short-Term TIPS ETF	32.50%	Inflation · Short Duration	+1.3%	+0.42%	0-5yr TIPS — the CPI tracker; Sep 1 2026: absorbs the long-TIPS rung (LTPZ −3.6% YTD) — duration is the risk the house avoids
4	STIP	iShares 0-5 Year TIPS ETF	12.00%	Inflation · Short Duration	+1.3%	+0.16%	Short-duration TIPS, iShares wrapper

Capital Wealth Chips & Supply Chain Sleeve · Satellite

A composable satellite sleeve of the layer AROUND the AI names — the neocloud landlord (CRWV), the equipment triumvirate (AMAT, LRCX, KLAC), advanced packaging (AMKR), custom silicon (MRVL), the IP layer (ARM) and datacenter power (VRT). Deliberately excludes NVDA, TSM, MU and the megacaps because the AI & Compute Sleeve owns them — the two compose without doubling a single position. Seven of eight positions carry theses already published in the house books; CRWV is the requested Aug 29 add. Portal-synced via slug sleeve_chips_supply.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	CRWV	CoreWeave	16.00%	AI Cloud · Neocloud	+14.6%	+2.35%	The AI-compute landlord — contracted GPU capacity to hyperscalers; the demand signal for every chip below it. Requested add, Aug 29
2	AMAT	Applied Materials	14.00%	Semi Equipment	+98.0%	+13.79%	Broadest WFE exposure to memory and logic capex
3	VRT	Vertiv	13.50%	Datacenter Power	+50.0%	+6.78%	Data-center cooling + power — every GPU cluster ships with a power problem
4	LRCX	Lam Research	13.00%	Semi Equipment	+86.8%	+11.34%	Etch/deposition for 3D NAND + DRAM
5	MRVL	Marvell	12.00%	Custom Silicon	+224.5%	+27.07%	Custom AI silicon and interconnect
6	KLAC	KLA Corp	11.00%	Process Control	+61.6%	+6.80%	Process control for yield — the toll booth of every node shrink
7	ARM	Arm Holdings	10.00%	Semi IP	+143.6%	+14.43%	The IP layer — licensing on nearly every AI and mobile chip designed
8	AMKR	Amkor Technology	10.00%	Advanced Packaging	+25.0%	+2.52%	Advanced packaging buildout in AZ; the bottleneck pure-play

Capital Wealth 403(b) Vanguard · Conservative

Election 1 · Vanguard Passive · 20% Equity / 60% Bonds / 20% Cash · All-in cost ~1.51% Performance (current weights, Oct 9 close): YTD +1.3% · 1-yr +2.7% · 5-yr annualized +2.7% · 2022 stress −13.8% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	MJGXX	JPMorgan U.S. Government Money Market	19.90%	Cash	—	+3.79%	—
2	VFIAX	Vanguard 500 Index	11.94%	Large-Cap US	+15.1%	+17.83%	+1.81%
3	VTMGX	Vanguard Developed Markets Index	5.97%	International	+13.4%	+35.17%	+0.80%
4	VIMAX	Vanguard Mid Cap Index	1.99%	Mid-Cap US	+13.0%	+11.67%	+0.26%
5	VBTLX	Vanguard Total Bond Market Index	59.70%	Bonds	−2.9%	+7.15%	−1.72%
	TOTAL		99.50%

* YTD '26 column: Vanguard tickers from your SB-vs-Orion Q1 2026 fee comparison; non-Vanguard tickers from Yahoo Finance / Morningstar (April 2026). Tickers without recent published YTD data show —. * 1-Year trailing returns from Security Benefit Quarterly Performance Report (period ending early 2026); Orion Index-Beat fund 1-Yr returns from Yahoo Finance / Morningstar (April 2026). YTD and 1-Yr windows are not strictly aligned across all sources. Returns gross of advisor fee. Past performance does not guarantee future results.

Thesis — Passive diversified allocation. Low-cost Vanguard index funds matched to SB Election 1 lineup. For clients prioritizing fee minimization and broad-market exposure within the 403(b) wrapper.

Investment Policy Statement

Risk band: Matches the selected target-date allocation
Time horizon: Matches retirement date
Liquidity need: 403(b) plan rules govern
Return objective: Match benchmark index minus 8 bps fee drag
Rebalancing trigger: Annual auto-rebalance via plan
Excluded screens: Limited to Vanguard SB1 fund universe

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for high-tax-bracket savers
Not applicable outside 403(b): SB1 fund universe only available inside the plan

Effective Theme Exposure

US Large-Cap (VFIAX)11.94%
US Mid-Cap (VIMAX)1.99%
International Developed (VTMGX)5.97%
Bonds (VBTLX)59.70%
Cash / Money Market (MJGXX)19.90%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) Vanguard · Moderate Conservative

Election 1 · Vanguard Passive · 40% Equity / 48% Bonds / 12% Cash · All-in cost ~1.50% Performance (current weights, Oct 9 close): YTD +4.8% · 1-yr +6.6% · 5-yr annualized +5.3% · 2022 stress −14.5% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	MJGXX	JPMorgan U.S. Government Money Market	11.94%	Cash	—	+3.79%	—
2	VFIAX	Vanguard 500 Index	21.89%	Large-Cap US	+15.1%	+17.83%	+3.32%
3	VTMGX	Vanguard Developed Markets Index	11.94%	International	+13.4%	+35.17%	+1.61%
4	VIMAX	Vanguard Mid Cap Index	3.98%	Mid-Cap US	+13.0%	+11.67%	+0.52%
5	VBTLX	Vanguard Total Bond Market Index	47.76%	Bonds	−2.9%	+7.15%	−1.37%
6	VSMAX	Vanguard Small Cap Index	1.99%	Small-Cap US	+13.3%	+8.83%	+0.27%
	TOTAL		99.50%

Investment Policy Statement

Risk band: Matches the selected target-date allocation
Time horizon: Matches retirement date
Liquidity need: 403(b) plan rules govern
Return objective: Match benchmark index minus 8 bps fee drag
Rebalancing trigger: Annual auto-rebalance via plan
Excluded screens: Limited to Vanguard SB1 fund universe

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for high-tax-bracket savers
Not applicable outside 403(b): SB1 fund universe only available inside the plan

Effective Theme Exposure

US Large-Cap (VFIAX)21.89%
US Mid / Small-Cap (VIMAX + VSMAX)5.97%
International Developed (VTMGX)11.94%
Bonds (VBTLX)47.76%
Cash / Money Market (MJGXX)11.94%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) Vanguard · Moderate

Election 1 · Vanguard Passive · 60% Equity / 34% Bonds / 6% Cash · All-in cost ~1.50% Performance (current weights, Oct 9 close): YTD +8.0% · 1-yr +10.2% · 5-yr annualized +7.5% · 2022 stress −15.3% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	MJGXX	JPMorgan U.S. Government Money Market	5.97%	Cash	—	+3.79%	—
2	VFIAX	Vanguard 500 Index	30.84%	Large-Cap US	+15.1%	+17.83%	+4.68%
3	VTMGX	Vanguard Developed Markets Index	18.91%	International	+13.4%	+35.17%	+2.55%
4	VIMAX	Vanguard Mid Cap Index	5.97%	Mid-Cap US	+13.0%	+11.67%	+0.78%
5	VBTLX	Vanguard Total Bond Market Index	33.83%	Bonds	−2.9%	+7.15%	−0.97%
6	VSMAX	Vanguard Small Cap Index	3.98%	Small-Cap US	+13.3%	+8.83%	+0.53%
	TOTAL		99.50%

Investment Policy Statement

Risk band: Matches the selected target-date allocation
Time horizon: Matches retirement date
Liquidity need: 403(b) plan rules govern
Return objective: Match benchmark index minus 8 bps fee drag
Rebalancing trigger: Annual auto-rebalance via plan
Excluded screens: Limited to Vanguard SB1 fund universe

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for high-tax-bracket savers
Not applicable outside 403(b): SB1 fund universe only available inside the plan

Effective Theme Exposure

US Large-Cap (VFIAX)30.84%
US Mid / Small-Cap (VIMAX + VSMAX)9.95%
International Developed (VTMGX)18.91%
Bonds (VBTLX)33.83%
Cash / Money Market (MJGXX)5.97%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) Vanguard · Moderate Aggressive

Election 1 · Vanguard Passive · 75% Equity / 25% Bonds · All-in cost ~1.49% Performance (current weights, Oct 9 close): YTD +9.8% · 1-yr +12.4% · 5-yr annualized +8.6% · 2022 stress −15.7% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	VFIAX	Vanguard 500 Index	33.83%	Large-Cap US	+15.1%	+17.83%	+5.13%
2	VTMGX	Vanguard Developed Markets Index	25.87%	International	+13.4%	+35.17%	+3.48%
3	VIMAX	Vanguard Mid Cap Index	7.96%	Mid-Cap US	+13.0%	+11.67%	+1.04%
4	VBTLX	Vanguard Total Bond Market Index	24.88%	Bonds	−2.9%	+7.15%	−0.72%
5	VSMAX	Vanguard Small Cap Index	6.96%	Small-Cap US	+13.3%	+8.83%	+0.93%
	TOTAL		99.50%

Investment Policy Statement

Risk band: Matches the selected target-date allocation
Time horizon: Matches retirement date
Liquidity need: 403(b) plan rules govern
Return objective: Match benchmark index minus 8 bps fee drag
Rebalancing trigger: Annual auto-rebalance via plan
Excluded screens: Limited to Vanguard SB1 fund universe

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for high-tax-bracket savers
Not applicable outside 403(b): SB1 fund universe only available inside the plan

Effective Theme Exposure

US Large-Cap (VFIAX)33.83%
US Mid / Small-Cap (VIMAX + VSMAX)14.92%
International Developed (VTMGX)25.87%
Bonds (VBTLX)24.88%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) Vanguard · Aggressive

Election 1 · Vanguard Passive · 90% Equity / 10% Bonds · All-in cost ~1.49% Performance (current weights, Oct 9 close): YTD +12.5% · 1-yr +15.3% · 5-yr annualized +10.3% · 2022 stress −16.5% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	VFIAX	Vanguard 500 Index	39.80%	Large-Cap US	+15.1%	+17.83%	+6.04%
2	VTMGX	Vanguard Developed Markets Index	30.84%	International	+13.4%	+35.17%	+4.15%
3	VIMAX	Vanguard Mid Cap Index	10.95%	Mid-Cap US	+13.0%	+11.67%	+1.43%
4	VBTLX	Vanguard Total Bond Market Index	9.95%	Bonds	−2.9%	+7.15%	−0.29%
5	VSMAX	Vanguard Small Cap Index	7.96%	Small-Cap US	+13.3%	+8.83%	+1.07%
	TOTAL		99.50%

Investment Policy Statement

Risk band: Matches the selected target-date allocation
Time horizon: Matches retirement date
Liquidity need: 403(b) plan rules govern
Return objective: Match benchmark index minus 8 bps fee drag
Rebalancing trigger: Annual auto-rebalance via plan
Excluded screens: Limited to Vanguard SB1 fund universe

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for high-tax-bracket savers
Not applicable outside 403(b): SB1 fund universe only available inside the plan

Effective Theme Exposure

US Large-Cap (VFIAX)39.80%
US Mid / Small-Cap (VIMAX + VSMAX)18.91%
International Developed (VTMGX)30.84%
Bonds (VBTLX)9.95%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) CWLG · Tier 1 Aggressive

Election 3 · CWLG Custom · 100% Equity · Theme-mapped (AI/Tech, Energy, Dividend, Gold, Health) · All-in cost ~1.93% · 5-Yr alpha vs Vanguard Aggressive ≈ -10 bps Performance (current weights, Oct 9 close): YTD +21.8% · annualized since inception (0.9 yrs) +27.3%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib
1	VITAX	Vanguard Information Technology Index	9.95%	Tech	+36.3%	+21.78%	+3.63%
2	FFOJX	Fidelity Advisor Technology	5.97%	Tech	+45.8%	+22.74%	+2.75%
3	RSIFX	Victory RS Science and Technology	3.98%	Tech	+24.6%	+18.73%	+0.99%
4	IENAX	Invesco Energy	13.93%	Energy	+44.0%	+12.36%	+6.15%
5	MDDVX	BlackRock Equity Dividend	9.95%	Dividend	+15.7%	+21.40%	+1.57%
6	WSHFX	American Funds Washington Mutual	7.96%	Dividend	+8.3%	+17.09%	+0.67%
7	TWEAX	American Century Equity Income	5.97%	Equity Income	+10.8%	+11.63%	+0.65%
8	ACSTX	Invesco Comstock	5.97%	Value	+12.6%	+17.15%	+0.76%
9	NBPBX	Neuberger Large Cap Value	3.98%	Value	+21.8%	+20.25%	+0.87%
10	VGSLX	Vanguard Real Estate Index	5.97%	Real Estate	+5.4%	+3.19%	+0.32%
11	PRUAX	PGIM Jennison Utility	3.98%	Utilities	−2.9%	+11.59%	−0.12%
12	OPGSX	Invesco Gold & Special Minerals	5.97%	Gold/Mining	+5.4%	+131.03%	+0.32%
13	PCRAX	PIMCO CommodityRealReturn Strategy	5.97%	Commodities	+31.4%	+18.80%	+1.88%
14	JFNSX	Janus Henderson Global Life Sciences	5.97%	Health Care	+7.0%	+24.35%	+0.42%
15	AMFFX	American Funds American Mutual	3.98%	Dividend	+9.2%	+16.03%	+0.37%
	TOTAL		99.50%

+ 10 more positions in this model

Top 5 holdings shown above. Become a Capital Wealth client to see every position, sector weight, and contribution.

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Thesis — Diversified high-conviction book within the CWLG 403(b) custom lineup. Active selection within the available fund universe; tilts toward growth and quality.

Investment Policy Statement

Risk band: Tolerate −22% peak-to-trough
Time horizon: 8+ years
Liquidity need: 403(b) plan rules govern
Return objective: S&P 500 + 1% over 7Y within available fund universe
Rebalancing trigger: Quarterly review; ±2% deviation
Excluded screens: Limited to CWLG custom 403(b) lineup

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) preferred for younger clients
Not applicable outside 403(b): CWLG custom lineup only available inside the plan

Effective Theme Exposure

Tech / AI20%
Energy14%
Dividend / Value / Equity Income28%
Real Estate / Utilities10%
Gold / Commodities12%
Healthcare6%
Other (Balanced / International)9.5%
Cash buffer (settlement reserve)0.5%
Total99.5%

Capital Wealth 403(b) CWLG · Tier 2 Balanced

Election 3 · CWLG Custom · 81% Equity / 19% Bonds · Growth core + theme satellites · All-in cost ~1.93% · 5-Yr alpha vs Vanguard Moderate Aggressive ≈ +170 bps Performance (current weights, Oct 9 close): YTD +12.7% · 1-yr +15.8% · 5-yr annualized +11.3% · 2022 stress −13.6% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib	Notes
1	VITAX	Vanguard Information Technology Index	6.96%	Tech	+36.3%	+21.78%	+2.54%
2	RSIFX	Victory RS Science and Technology	3.98%	Tech	+24.6%	+18.73%	+0.99%
3	IENAX	Invesco Energy	7.96%	Energy	+44.0%	+12.36%	+3.52%
4	MDDVX	BlackRock Equity Dividend	7.96%	Dividend	+15.7%	+21.40%	+1.25%
5	WSHFX	American Funds Washington Mutual	5.97%	Dividend	+8.3%	+17.09%	+0.50%
6	ACSTX	Invesco Comstock	4.97%	Value	+12.6%	+17.15%	+0.63%
7	VGSLX	Vanguard Real Estate Index	4.97%	Real Estate	+5.4%	+3.19%	+0.27%
8	OPGSX	Invesco Gold & Special Minerals	5.97%	Gold/Mining	+5.4%	+131.03%	+0.32%
9	JFNSX	Janus Henderson Global Life Sciences	4.97%	Health Care	+7.0%	+24.35%	+0.35%
10	TWUAX	American Century Ultra	11.47%	Growth	+9.7%	+12.34%	+1.12%
11	VHIAX	JPMorgan Growth Advantage	9.95%	Growth	+5.0%	+15.52%	+0.50%
12	JIGRX	Janus Henderson Overseas	4.97%	International	+12.4%	+28.29%	+0.62%
13	GIBAX	Guggenheim Total Return Bond	6.96%	Bonds	−3.0%	+7.88%	−0.21%
14	VBTLX	Vanguard Total Bond Market Index	5.97%	Bonds	−2.9%	+7.15%	−0.17%
15	JGIAX	JPMorgan Income	5.97%	Bonds	+0.2%	+7.38%	+0.01%
+	SGOV	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	+2.8%	+4.8%	+0.01%	Settlement & tactical liquidity
	TOTAL		99.50%

+ 10 more positions in this model

Top 5 holdings shown above. Become a Capital Wealth client to see every position, sector weight, and contribution.

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Thesis — Diversified high-conviction book within the CWLG 403(b) custom lineup. Active selection within the available fund universe; tilts toward growth and quality.

Investment Policy Statement

Risk band: Tolerate −22% peak-to-trough
Time horizon: 8+ years
Liquidity need: 403(b) plan rules govern
Return objective: S&P 500 + 1% over 7Y within available fund universe
Rebalancing trigger: Quarterly review; ±2% deviation
Excluded screens: Limited to CWLG custom 403(b) lineup

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) preferred for younger clients
Not applicable outside 403(b): CWLG custom lineup only available inside the plan

Effective Theme Exposure

Tech / AI11%
Energy8%
Dividend / Value / Equity Income19%
Real Estate / Utilities5%
Gold / Commodities6%
Healthcare5%
Growth / International27%
Bonds18%
Cash buffer (settlement reserve)0.5%
Total99.5%

Capital Wealth 403(b) CWLG · Tier 3 Income

Election 3 · CWLG Custom · 65% Equity (dividend-tilted) / 35% Fixed income · All-in cost ~1.82% · 5-Yr alpha vs Vanguard Moderate Conservative ≈ +266 bps Performance (current weights, Oct 9 close): YTD +7.1% · 1-yr +9.4% · 5-yr annualized +7.8% · 2022 stress −5.7% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib	Notes
1	IENAX	Invesco Energy	5.85%	Energy	+44.0%	+12.36%	+2.58%
2	MDDVX	BlackRock Equity Dividend	11.22%	Dividend	+15.7%	+21.40%	+1.77%
3	WSHFX	American Funds Washington Mutual	9.75%	Dividend	+8.3%	+17.09%	+0.82%
4	TWEAX	American Century Equity Income	7.80%	Equity Income	+10.8%	+11.63%	+0.85%
5	VGSLX	Vanguard Real Estate Index	3.90%	Real Estate	+5.4%	+3.19%	+0.21%
6	PRUAX	PGIM Jennison Utility	5.85%	Utilities	−2.9%	+11.59%	−0.17%
7	OPGSX	Invesco Gold & Special Minerals	3.90%	Gold/Mining	+5.4%	+131.03%	+0.21%
8	AMFFX	American Funds American Mutual	5.85%	Dividend	+9.2%	+16.03%	+0.54%
9	GIBAX	Guggenheim Total Return Bond	9.75%	Bonds	−3.0%	+7.88%	−0.29%
10	VBTLX	Vanguard Total Bond Market Index	6.82%	Bonds	−2.9%	+7.15%	−0.20%
11	BALFX	American Funds American Balanced	3.90%	Balanced	+8.2%	+18.42%	+0.32%
12	SIUSX	Guggenheim Core Bond	7.80%	Bonds	−3.0%	+7.51%	−0.24%
13	FKIQX	Franklin Income	4.87%	Income	+4.9%	+12.17%	+0.24%
14	JSDHX	JPMorgan Short Duration Core Plus	4.87%	Bonds	−0.1%	+6.68%	−0.00%
15	MJGXX	JPMorgan U.S. Government Money Market	4.87%	Cash	—	+3.79%	—
+	SGOV	Cash / Operational Reserve (SGOV settlement buffer)	0.50%	Cash	+2.8%	+4.8%	+0.01%	Settlement & tactical liquidity
	TOTAL		99.50%
+	USFR	WisdomTree Floating Rate Treasury	2.00%	Income / Rates	+3.0%	—	+0.06%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

+ 10 more positions in this model

Top 5 holdings shown above. Become a Capital Wealth client to see every position, sector weight, and contribution.

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Thesis — Diversified high-conviction book within the CWLG 403(b) custom lineup. Active selection within the available fund universe; tilts toward growth and quality.

Investment Policy Statement

Risk band: Tolerate −22% peak-to-trough
Time horizon: 8+ years
Liquidity need: 403(b) plan rules govern
Return objective: S&P 500 + 1% over 7Y within available fund universe
Rebalancing trigger: Quarterly review; ±2% deviation
Excluded screens: Limited to CWLG custom 403(b) lineup

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) preferred for younger clients
Not applicable outside 403(b): CWLG custom lineup only available inside the plan

Effective Theme Exposure

Energy6%
Dividend / Value / Equity Income30%
Real Estate / Utilities10%
Gold / Commodities4%
Healthcare6%
Bonds / Income38%
Cash / Money Market5%
Cash buffer (settlement reserve)0.5%
Total99.5%

Capital Wealth 403(b) Orion · Index-Beat

Orion 403(b) · Low-cost index rebuild of the house themes (AI/Semis, Energy, Defense, Industrials, Materials, Healthcare, Utilities). Gold removed. Single large-cap core sleeve (VFIAX) replaces the VIGAX / VVIAX / VHYAX trio, which together only reassembled the index the sector funds are meant to tilt away from. All-in cost ~0.53% (was ~1.18%). Memory/chip exposure via FSELX (NVDA/AVGO/MU). Performance (current weights, Oct 9 close): YTD +18.1% · 1-yr +20.9% · 5-yr annualized +16.8% · 2022 stress −9.0% vs S&P 500 −18.2%.

#	Ticker	Company	Weight	Sector	YTD '26	1-Yr	Contrib	Notes
1	VFIAX	Vanguard 500 Index Adm	32.50%	Core US Equity	+15.1%	+24.4%	+4.93%	Large-cap core — consolidates VIGAX + VVIAX + VHYAX
2	VGELX	Vanguard Energy Index Adm	13.00%	Energy	+26.2%	+30.3%	+3.42%	Energy index — replaces active energy funds
3	FSELX	Fidelity Select Semiconductors	12.00%	AI / Semis	+62.8%	+155.1%	+7.58%	Memory + chip supercycle (NVDA/AVGO/MU)
4	FSDAX	Fidelity Select Defense & Aero	11.00%	Defense	−2.6%	+39.7%	−0.29%	Defense backlog — no Vanguard equivalent
5	VINAX	Vanguard Industrials Idx Adm	9.00%	Industrials	+9.4%	+27.4%	+0.85%
6	VMIAX	Vanguard Materials Index Adm	8.00%	Materials	+7.9%	+22.1%	+0.64%	Real-asset tilt — replaces the gold funds
7	VHCIX	Vanguard Health Care Index Adm	8.00%	Healthcare	+12.0%	+15.8%	+0.97%	Defensive demographic sleeve
8	VUIAX	Vanguard Utilities Index Adm	6.00%	Utilities	−1.1%	+11.9%	−0.07%	Power/infra income — replaces MLP
	TOTAL		99.50%

+ 6 more positions in this model

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Thesis — Diversified high-conviction book within the Orion 403(b) lineup. Active selection emphasizing healthcare, defense, and AI infrastructure within Orion’s available funds.

Investment Policy Statement

Risk band: Tolerate −25% peak-to-trough
Time horizon: 10+ years
Liquidity need: 403(b) plan rules govern
Return objective: S&P 500 + 2% over 10Y within Orion universe
Rebalancing trigger: Quarterly review; ±2% deviation
Excluded screens: Limited to Orion’s fund lineup

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b) for accumulation phase
Not applicable outside 403(b): Orion fund lineup only available inside the plan

Effective Theme Exposure

Core US Equity (VFIAX)32.5%
Energy (VGELX)13%
AI / Semis (FSELX)12%
Defense (FSDAX)11%
Industrials / Infra (VINAX)9%
Materials / Real Assets (VMIAX)8%
Healthcare (VHCIX)8%
Utilities / Power (VUIAX)6%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth Tax-Efficient · Diversified (Taxable)

Built for taxable accounts. Holdings chosen for low turnover, qualified-dividend tax treatment, ETF in-kind redemption (no embedded capital gains distributions), and tax-loss-harvesting flexibility. Excludes REITs, MLPs, and high-dividend names that throw off ordinary-income distributions. Designed to coordinate with a tax-deferred (IRA / 403b) sleeve where the high-yield names sit. Pairs with the wash-sale tracker on the rebalancing page. Performance (current weights, Oct 9 close): YTD +10.5% · 1-yr +13.5% · 5-yr annualized +10.8% · 2022 stress −14.9% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Role	YTD	Contrib	Tax-Aware Note
#	Ticker	Name	Weight	Sector / Role	YTD	Contrib	Tax-Aware Note
1	VTI	Vanguard Total Stock Market ETF	12.75%	Core US Equity	+14.9%	+1.91%	Lowest-turnover total-market ETF (~3% turnover); minimal cap-gain distributions; ITOT TLH-pair
2	VOO	Vanguard S&P 500 ETF	9.46%	Core US Equity	+15.1%	+1.43%	S&P 500 core; IVV is the TLH-pair if VOO needs harvesting
3	VEA	Vanguard FTSE Developed Markets ETF	7.57%	Developed ex-US	+13.7%	+1.04%	Developed-market diversifier; IEFA = TLH-pair
4	VWO	Vanguard FTSE Emerging Markets ETF	3.78%	Emerging Markets	+11.5%	+0.44%	EM diversifier; EEM = TLH-pair (different index but functionally similar)
5	QQQM	Invesco NASDAQ-100 ETF (lower-fee class)	5.68%	Tech Tilt	+22.8%	+1.30%	Lower-fee than QQQ (0.15% vs 0.20%); same NASDAQ-100 exposure
6	SCHG	Schwab US Large-Cap Growth ETF	4.73%	Growth Tilt	+13.0%	+0.62%	VUG = TLH-pair; growth tilt without single-stock concentration
7	SCHD	Schwab US Dividend Equity ETF	4.73%	Quality Dividend	+23.4%	+1.11%	Qualified-dividend status; lower turnover than active funds; 3.6% yield
8	VV	Vanguard Large-Cap ETF	3.78%	Core US Equity	+15.0%	+0.57%	Large-cap diversifier; complements VTI without overlap
9	AAPL	Apple	2.84%	Single-stock conviction	+24.2%	+0.69%	Hold >1 yr for long-term cap-gain rate; specific-lot identification on harvests
10	MSFT	Microsoft	2.84%	Single-stock conviction	+11.3%	+0.32%	LTCG hold; minimal dividend income (qualified)
11	GOOGL	Alphabet	2.84%	Single-stock conviction	+12.6%	+0.36%	No dividend (zero ordinary income); LTCG hold
12	BRK.B	Berkshire Hathaway B	2.84%	Tax-Optimized	+2.6%	+0.07%	No dividend by design; pure capital-gain mechanism; ideal taxable holding
13	VTEB	Vanguard Tax-Exempt Bond ETF	9.46%	Muni Bond / Tax-Free	−3.5%	−0.33%	Federal-tax-free interest; CA-resident: pair with CMF for state-tax-free option
14	MUB	iShares National Muni Bond ETF	4.73%	Muni Bond / Tax-Free	−3.3%	−0.16%	VTEB = TLH-pair; same federal-tax-free exposure
15	CMF	iShares California Muni Bond ETF	4.73%	Muni Bond / Double-Tax-Free	−3.6%	−0.17%	CA residents only: federal AND state tax-free interest; sized to client's CA bracket
16	VTIP	Vanguard Short-Term TIPS ETF	3.78%	Inflation-Protected	+1.3%	+0.05%	Short-duration TIPS; less interest-rate risk than full TIP; SCHP = TLH-pair
17	SGOV	iShares 0-3M Treasury ETF	1.36%	Cash Equivalent	+2.8%	+0.04%	Treasury interest (federal-only-taxed); BIL = TLH-pair
18	IAU	iShares Gold Trust	2.84%	Real Asset	−2.8%	−0.08%	Long-term capital-gain rate (28% collectibles cap if <1yr); GLD = TLH-pair
19	VEU	Vanguard FTSE All-World ex-US ETF	2.84%	Global ex-US	+13.6%	+0.39%	Global ex-US diversifier; ACWX = TLH-pair
20	CASH	Money Market Reserve	0.95%	Operational Cash	+2.8%	+0.03%	Settlement / opportunistic cash; harvest reserve
TOTAL — 100%			100%			0.00%
21	NEE	NextEra Energy	0.98%	Power	−1.5%	−0.01%	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
22	AZN	AstraZeneca	0.49%	Pharma	−12.5%	−0.06%	NEW May 19 — Hypertension approval; pharma diversification
+	PM	Philip Morris Intl	1.50%	Tobacco / Defensive	+28.7%	+0.43%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	VGK	Vanguard FTSE Europe ETF	2.00%	International / Diversifier	+5.0%	+0.10%	NEW Aug 22 — Stoxx 600 EPS +18% (+7% ex-energy); ~10% tech weight vs ~40% S&P — the honest AI-concentration offset (WSJ Heard, Aug 22)

Tax-Efficiency Design Notes

What sits here vs in the IRA: this Tax-Efficient model goes in the taxable brokerage. The high-yield names (energy partnerships KMI/ET/EPD/MPLX, REITs, high-dividend ETFs, junk-bond ETFs) live in the Roth IRA / Traditional IRA / 403(b) sleeve where ordinary-income distributions are sheltered.
Wash-sale rule (IRS Section 1091): 30 days before AND after the sale (61-day window). Applies to “substantially identical” securities. The TLH-pair column lists the alternative ETF that maintains exposure without triggering wash-sale. Don't buy the same ticker in your IRA either — Rev Rul 2008-5 extended wash-sale rules across taxable+IRA accounts.
Long-term capital gains: hold every position >1 year before harvesting gains to qualify for the 0% / 15% / 20% LTCG bracket vs ordinary income. Use specific-lot identification (FIFO is the worst tax outcome).
Qualified dividends: ETFs in this model pass through qualified-dividend status (15-20% rate) rather than ordinary-income distributions. Avoid REITs and MLPs in this sleeve — they break QDI status.
Rebalancing cadence: quarterly review. If a position has drifted >5% from target, rebalance. Always rebalance through new contributions or distributions before triggering taxable sales.
Tax-loss-harvesting season: November-December for the year-end tax loss; March-October opportunistic on drawdown spikes >7%. The wash-sale tracker on the rebalancing page tells you when each position is eligible to repurchase.

Thesis — Diversified high-conviction book optimized for taxable brokerage accounts. Tilts toward qualified-dividend payers, low-turnover ETFs, and tax-managed funds. Avoids ordinary-income drag from REITs and energy MLPs.

Investment Policy Statement

Risk band: Tolerate −25% peak-to-trough drawdown
Time horizon: 10+ years
Liquidity need: 0.5% SGOV buffer; rest available via in-kind ETF redemption
Return objective: S&P 500 + 1% pre-tax; S&P 500 + 2% after-tax
Rebalancing trigger: Tax-loss-harvesting threshold first; then ±1% deviation
Excluded screens: REITs, energy MLPs (ordinary-income drag)

Tax Location Guidance

Best fit: Taxable brokerage (designed for it)
Acceptable: Roth IRA (tax-free compounding still works)
Avoid: Traditional IRA / 401(k) — tax-efficient design wasted inside a tax-deferred wrapper

Effective Theme Exposure

US Core Equity (VTI / VOO / VV)25.99%
International Developed (VEA)7.57%
Emerging Markets (VWO)3.78%
Tech / Growth Tilt (QQQM / SCHG)10.41%
Quality Dividend ETF (SCHD)4.73%
Single-Stock Conviction (AAPL / MSFT / GOOGL / BRK.B)11.36%
Municipal Bonds (VTEB / MUB / CMF)18.92%
TIPS / Treasury (VTIP / SGOV)5.14%
Gold / Real Assets (IAU)2.84%
Cash buffer (settlement reserve)0.5%
Total99.5%

Capital Wealth Tech & Quantum · Speculative

Aggressive-speculative sleeve for the moonshot bucket of a portfolio. Built around quantum computing pure-plays (IONQ, RGTI, QBTS, QUBT), AI infrastructure leaders, autonomous + counter-drone (AVAV), rare earth (MP), space (RKLB), and the highest-conviction Mag7. Position-sized small per name (1.5–4%) because individual outcomes range from 10x to zero. Suitable only for accounts where the client can tolerate a 50%+ drawdown on this sleeve without affecting their lifestyle. Sleeve sized at 5–15% of total household assets — never the whole portfolio. Performance (current weights, Oct 9 close): YTD +26.5% · 1-yr +18.6% · annualized since inception (2.5 yrs) +72.5%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Speculative Thesis
1	IONQ	IonQ	3.98%	Quantum Computing	−11.1%	−0.44%	Trapped-ion quantum architecture; closest to commercial quantum advantage; Microsoft + AWS partnerships
2	RGTI	Rigetti Computing	2.98%	Quantum Computing	−36.7%	−1.10%	Superconducting-qubit fabrication leader; DARPA + DoE contracts; volatile but real revenue path
3	QBTS	D-Wave Quantum	2.49%	Quantum Computing	−44.3%	−1.11%	Quantum annealing specialist; commercial deployments at Volkswagen, Mastercard; differentiated from gate-based
4	QUBT	Quantum Computing Inc.	1.49%	Quantum Computing	−27.5%	−0.41%	Smaller-cap quantum + photonic sensing pure-play; binary outcome (win big or zero); position size reflects that
5	NVDA	NVIDIA	7.96%	AI Infrastructure	+23.2%	+1.86%	CUDA-moat compounder; AI capex cycle multi-year; cornerstone of any tech-speculative book
6	PLTR	Palantir Technologies	4.97%	AI / Defense Software	+17.6%	+0.88%	DoD AI-deployment leader; commercial AIP traction; rich valuation but secular tailwind
7	AVGO	Broadcom	3.72%	AI Semis	+5.0%	+0.19%	Custom AI silicon for hyperscalers; Apple, Meta, Google all customers; the "anti-NVDA" hedge
8	CRWD	CrowdStrike	3.98%	Cyber / AI Detection	+134.7%	+5.39%	AI-powered cyber leader; recurring revenue compounder; cyber spending is non-discretionary
9	SNOW	Snowflake	3.48%	Data Cloud	+68.2%	+2.38%	Cloud-data warehouse leader; AI-data preparation tailwind; high-burn but credible path
10	MDB	MongoDB	2.98%	Data Cloud	−8.0%	−0.24%	NoSQL leader; Atlas cloud growth + AI vector-database use case
11	AAPL	Apple	4.97%	Mag7 / AI Edge	+24.2%	+1.21%	Apple Intelligence on-device AI rollout; INTC chip-deal de-risks Taiwan tail; cash-flow ballast
12	META	Meta Platforms	4.97%	Mag7 / AI Models	+9.2%	+0.46%	Llama open-weights leader; capex thesis intact; ad-business funds the AI build
13	GOOGL	Alphabet	4.97%	Mag7 / AI Models	+12.6%	+0.63%	Gemini + Cloud AI compounding; YouTube ad ballast; Waymo optionality
14	MSFT	Microsoft	4.97%	Mag7 / AI Models	+11.3%	+0.57%	OpenAI partnership + Azure AI; quantum hardware research (Majorana qubits) is real long-shot
15	AVAV	AeroVironment	2.98%	Counter-Drone / Defense	−43.3%	−1.30%	Switchblade loitering munition + counter-UAS systems; Ukraine + Iran demand pull
16	RKLB	Rocket Lab	2.49%	Space / Defense	−2.2%	−0.06%	Small-launch leader + spacecraft systems; Neutron rocket optionality
17	MP	MP Materials	2.49%	Rare Earth / National Security	−8.7%	−0.22%	Only US-based rare-earth processor; defense + EV magnet supply-chain; DoD strategic-metals push
18	CRSP	CRISPR Therapeutics	1.99%	Gene Editing / Speculative Bio	+1.8%	+0.04%	Casgevy commercial sickle-cell + beta-thal; pipeline has 5+ shots on goal; binary-outcome biotech
19	VST	Vistra Energy	2.98%	Power / AI Datacenter	+0.5%	+0.02%	Data-center power monster; nuclear PPA optionality; AI capex tailwind directly
20	CEG	Constellation Energy	2.49%	Power / Nuclear	−15.3%	−0.38%	Nuclear-fleet operator + Microsoft Three Mile Island deal; baseload-AI thesis
21	GEV	GE Vernova	2.98%	Power / Grid Infra	+54.0%	+1.62%	Grid + turbine + wind; AI datacenter buildout favors the picks-and-shovels
22	VRT	Vertiv Holdings	2.98%	DC Cooling / Infra	+50.0%	+1.50%	Datacenter liquid cooling leader; AI chip TDPs require new thermal solutions
23	TSM	Taiwan Semiconductor	2.73%	Foundry / AI Semis	+50.3%	+1.38%	Still the foundry leader; held alongside INTC for foundry-diversification pair-trade
24	INTC	Intel	2.98%	Foundry / Reshoring	+183.7%	+5.50%	Apple foundry deal validates Intel Foundry; CHIPS Act + USG 10% stake
25	TSLA	Tesla	3.48%	EV / Robotaxi / AI	−14.9%	−0.52%	Robotaxi + Optimus optionality; rest of EV business is mature; speculative on autonomy progress
26	CCJ	Cameco	1.99%	Uranium / Nuclear Fuel	−3.8%	−0.07%	Uranium leader; nuclear-AI baseload thesis; Westinghouse Electric stake
27	URA	Global X Uranium ETF	1.49%	Uranium / ETF	−9.0%	−0.13%	Diversified uranium-miner basket; complements CCJ single-stock
28	CASH	Cash / Reserve	5.04%	Dry Powder	+2.8%	+0.14%	Dry powder for adding into drawdowns; speculative book NEEDS this on every dip-buy
TOTAL — 100% of speculative sleeve (5-15% of household)			100%			0.00%
29	MU	Micron Technology	2.50%	AI Semis / Memory · AI infra	+260.7%	+6.55%	NEW Jun 27 — blowout May quarter, ~80% margins; memory is the picks-and-shovels of AI

Risk & Sizing Notes

This is a speculative sleeve, not a core book. Hold this alongside Tier I/II/III/IV — never as the only book. Recommended sizing: 5–15% of total household financial assets. The other 85–95% goes in the Aggressive tiers, the dividend tier, the Tax-Efficient tier, or fixed income.
Drawdown expectations: a 50% peak-to-trough drawdown on this sleeve is likely, not surprising. Quantum names move 30%+ on any given week. Expect it.
Account location: hold this in Roth IRA wherever possible. The asymmetric upside (some names could 5–10x over the next decade) is exactly the kind of return you want growing tax-free.
Position sizing: the smallest names (QUBT, QBTS, IONQ, RGTI, RKLB) are sized 1.5–4% specifically because individual outcomes range from binary zeros to 10x winners. Don't size up — sized correctly here, a single zero costs you 1.5–4% of the sleeve, which is 0.075–0.6% of household.
Rebalancing: if any position grows past 6% of the sleeve, trim back to the 4% target. The asymmetric returns mean winners will compound; let them, but don't let them become the entire sleeve.
Suitability: not appropriate for clients in or near retirement who need this money for living expenses in the next 5 years. This sleeve is for the 10–30 year compounding horizon.

Thesis — Concentrated high-conviction thematic book. 29 positions across AI infrastructure, quantum computing, and frontier semis. Speculative sleeve only — sized for risk-on capital.

Investment Policy Statement

Risk band: Tolerate −45% peak-to-trough drawdown
Time horizon: 7+ years
Liquidity need: 0.5% SGOV buffer; 5% cash sleeve for opportunistic dip-buys
Return objective: NASDAQ 100 + 5% annualized over 7Y
Rebalancing trigger: ±1% single-stock; ±5% theme
Excluded screens: None — speculative sleeve only

Tax Location Guidance

Best fit: Roth IRA — tax-free growth on the asymmetric upside
Acceptable: Traditional IRA — tax-deferred with ordinary-income withdrawal
Avoid: Taxable brokerage — high turnover and binary-outcome names create realized short-term gains

Effective Theme Exposure

AI Infrastructure (NVDA / AVGO / VRT / GEV)17.64%
Quantum Computing (IONQ / RGTI / QBTS / QUBT)10.94%
Frontier Semis (TSM / INTC / AVGO)9.43%
AI Software / Data (PLTR / SNOW / MDB / CRWD)15.41%
Mag7 / Big-Tech Backbone20%
Speculative Defense / Space / Rare Earth (AVAV / RKLB / MP)8%
Power / Nuclear (VST / CEG / CCJ / URA)8.95%
Speculative Bio (CRSP)2%
EV / Autonomy (TSLA)3.5%
Cash buffer (settlement reserve)0.5%
Total99.5%

Capital Wealth Dividend Income · 5% Yield Focus

25-position balanced book targeting a ~5% blended yield with growth-friendly quality cushion. Half quality-dividend core (SCHD/VYM + classic dividend champions yielding 3%) and half higher-yield income (MLPs, REITs, BDCs, covered-call ETFs yielding 6–9%) — blended together to hit a 5% portfolio yield without concentrating in a single high-yield trap. Designed for clients who want their portfolio to pay them now without giving up the chance to grow over a 10-year horizon. Pairs well with Social Security as a guaranteed-income complement. Performance (current weights, Oct 9 close): YTD +9.7% · 1-yr +13.0% · 5-yr annualized +9.8% · 2022 stress +1.4% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sleeve	Yield	YTD	Income Note
#	Ticker	Name	Weight	Sleeve	Yield	YTD	Income Note
Quality Dividend Core (35% — yields 2.5–3.5%)
1	SCHD	Schwab US Dividend Equity ETF	7.16%	Quality Core	3.0%	+23.4%	Dow Jones Dividend 100 Index; quality-screen leader; tax-efficient ETF
2	VYM	Vanguard High Dividend Yield ETF	5.10%	Quality Core	2.2%	+12.6%	FTSE high-yield index; complements SCHD with broader diversification
3	DGRO	iShares Core Dividend Growth ETF	4.08%	Quality Core	1.9%	+12.9%	Morningstar dividend-growth index; lower starting yield, faster compounding
4	JNJ	Johnson & Johnson	3.06%	Quality Single-Stock	1.9%	+28.4%	62-year Dividend King; recession-defensive healthcare
5	PG	Procter & Gamble	3.06%	Quality Single-Stock	2.9%	+7.9%	68-year Dividend King; consumer staples ballast
6	KO	Coca-Cola	3.06%	Quality Single-Stock	2.4%	+28.4%	63-year Dividend King; global consumer brand moat
7	ABBV	AbbVie	3.06%	Quality Single-Stock	2.6%	+23.9%	Pharma dividend payer; oncology + immunology pipeline post-Humira
8	MRK	Merck & Co	3.06%	Quality Single-Stock	2.3%	+41.2%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda revenue compounding; reasonable yield + growth combo
9	PEP	PepsiCo	3.06%	Quality Single-Stock	4.3%	−9.6%	52-year Dividend Aristocrat; snacks + beverages diversifier
Higher-Yield Income (40% — yields 5.5–9%)
10	JEPI	JPMorgan Equity Premium Income ETF	5.10%	Covered Call ETF	8.0%	+5.3%	Equity exposure + covered-call income overlay; reduces volatility
11	ET	Energy Transfer LP	4.08%	Energy MLP	6.4%	—	Pipeline MLP; ordinary-income distributions (best in IRA, generates K-1)
12	MPLX	MPLX LP	4.08%	Energy MLP	7.4%	+11.7%	Marathon Petroleum-affiliated MLP; reliable distribution growth
13	KMI	Kinder Morgan	3.06%	Pipeline C-Corp	3.8%	+21.6%	C-corp (no K-1); natural-gas pipeline backbone
14	ENB	Enbridge	3.06%	Pipeline / Canadian	—	+1.4%	Canadian pipeline major; 28+ years of dividend growth
15	O	Realty Income	4.08%	Net-Lease REIT	5.6%	−0.0%	"The Monthly Dividend Company"; net-lease REIT compounder
16	VICI	VICI Properties	3.06%	Gaming REIT	7.5%	−14.3%	Net-lease gaming/experiential REIT; 100% rent-collection track record
17	MAIN	Main Street Capital	3.06%	BDC	5.4%	−5.2%	Internally-managed BDC; monthly dividend + special dividends
18	ARCC	Ares Capital	3.06%	BDC	9.8%	−0.9%	Largest BDC; floating-rate loan book; benefits from higher rates
19	VZ	Verizon	3.06%	Telecom	5.8%	+9.1%	Telecom dividend payer; cash-flow business with limited growth
20	BTI	British American Tobacco	2.55%	Tobacco / Defensive	—	+2.4%	High-yield tobacco; for clients who're comfortable with the sector
Bond & International Ballast (15% — yields 3–4.5%)
21	SCHY	Schwab International Dividend Equity	4.08%	Intl Dividend	3.3%	+9.4%	Developed-international dividend exposure; complements US-heavy core
22	TLT	iShares 20+Y Treasury ETF	4.08%	Long Treasury	2.6%	−7.4%	Long-duration Treasury; bond-yield ballast + recession hedge
23	VTIP	Vanguard Short-Term TIPS ETF	4.08%	Inflation-Protected	—	+1.3%	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
24	PFF	iShares Preferred & Income	3.06%	Preferreds	6.1%	−1.3%	Preferred-stock ETF; bond-like yield with equity-style upside on rate cuts
Cash Reserve (10% — yield ~5%)
25	SGOV	iShares 0-3M Treasury ETF	5.75%	Cash Equivalent	3.7%	+2.8%	Short-Treasury cash sleeve; rebalancing source + emergency liquidity
TOTAL — 100%			100%		0.00%		Blended yield calculated weighted-average across all 25 positions
26	NEE	NextEra Energy	1.00%	Power	2.9%	−1.5%	NEW May 19 — Dominion buyout creates East-Coast AI-power leader
27	AZN	AstraZeneca	0.50%	Pharma	1.9%	−12.5%	NEW May 19 — Hypertension approval; pharma diversification
+	MO	Altria Group	2.00%	Tobacco / Defensive	~6.7%	+30.3%	NEW Jul 11 — pairs with BTI; lifts blended yield toward the 5% target
+	PM	Philip Morris Intl	2.00%	Tobacco / Defensive	~3.1%	+28.7%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)

Income Mechanics

Distribution cadence: SCHD/VYM/DGRO quarterly; O/MAIN monthly; PFF/JEPI monthly; MLPs (ET/MPLX) and BDCs (ARCC) quarterly. The blended payout schedule produces income roughly every week of the year.
Annual cash flow on $500K invested: ~$25,250 (5.05% of $500K). Roughly $2,100/month if reinvested-or-spent monthly.
Account location: hold MLPs (ET, MPLX) and BDCs (MAIN, ARCC) in tax-deferred accounts (Traditional IRA, 401(k), 403(b)) — they generate ordinary income, not qualified dividends. The quality-core ETFs (SCHD/VYM/DGRO) and dividend stocks (JNJ/PG/KO/PEP/ABBV/MRK) belong in taxable brokerage where you get the qualified-dividend rate. JEPI is a hybrid — half qualified, half ordinary; better in tax-deferred.
K-1 forms: ET and MPLX issue Schedule K-1 (not 1099-DIV). If you don't want K-1 paperwork, swap them for AMLP or MLPX (MLP ETFs that handle the K-1 internally and issue 1099 to investors).
Distribution tax treatment: qualified dividends taxed at LTCG rates (0/15/20%); MLP/BDC/REIT distributions taxed as ordinary income; Treasury interest is federal-only-taxed (state-tax exempt).
Rebalancing: trim winners back to target weight quarterly; the Higher-Yield sleeve will drift up faster than Quality Core because of the higher distributions, so the trim is naturally tax-aware (taking gains in the higher-cost-basis lots first).
Use case: ideal for a CalSTRS / CalPERS retiree who has Social Security + pension covering fixed expenses and wants the brokerage account to fund discretionary spend (travel, family help) without selling principal.

Thesis — Diversified high-conviction balanced book targeting a 5% yield. Equity-income tilt with a defensive bond sleeve. For clients who want growth participation with an income floor.

Investment Policy Statement

Risk band: Tolerate −18% peak-to-trough drawdown
Time horizon: 7+ years
Liquidity need: 5% target income distribution; 0.5% SGOV buffer within cash sleeve
Return objective: 5% yield + S&P 500 minus 2% capital appreciation
Rebalancing trigger: ±0.5% deviation; quarterly review
Excluded screens: None

Tax Location Guidance

Best fit: Roth IRA — tax-free yield compounding
Acceptable: Traditional IRA / 403(b); taxable for qualified-dividend sleeve
Avoid for high-bracket taxable: MLP / BDC / REIT names throw off ordinary income — place those in tax-deferred

Effective Theme Exposure

Quality Dividend Core (SCHD / VYM / DGRO + Aristocrats)35%
Energy MLPs / Pipelines14%
REITs (Realty Income / VICI)7%
BDCs (MAIN / ARCC)6.12%
Covered Call ETFs (JEPI)5.1%
Telecom / Defensive Yield (VZ / BTI)5.61%
International Dividend (SCHY)4.08%
Long Treasury / TIPS / Preferreds11%
Cash sleeve (SGOV)5.75%
Cash buffer (settlement reserve, within cash sleeve)0.5%
Total99.5%

Capital Wealth Non-Mag-7 · $100K · Diversified

The full Capital Wealth thesis with the Magnificent 7 removed — no AAPL, MSFT, GOOGL, AMZN, META, NVDA, or TSLA. For clients already over-indexed to mega-cap tech (employer RSUs, a concentrated 401k) who want everything else the book owns: defense, energy, financials, AI infrastructure ex-Mag7, semis ex-NVDA, healthcare, and gold. 30 positions. Portal-synced via slug nonmag7_100k. Performance (current weights, Oct 9 close): YTD +36.6% · 1-yr +40.1% · annualized since inception (2.5 yrs) +46.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	AVGO	Broadcom	5.00%	AI Semis	+5.0%	+0.25%	AI accelerators + networking ex-Mag7
2	PLTR	Palantir	4.00%	Defense	+17.6%	+0.71%	AI software/ontology, govt + commercial
3	ANET	Arista Networks	4.00%	AI Infra	+65.4%	+2.63%	Datacenter networking backbone
4	VRT	Vertiv	4.00%	DC Infra	+50.0%	+2.01%	Datacenter power & liquid cooling
5	ORCL	Oracle	4.00%	AI/Data	−26.5%	−1.06%	OCI capacity, AI database demand
6	CRWD	CrowdStrike	3.00%	Cyber	+134.7%	+4.06%	Cyber platform consolidation
7	PANW	Palo Alto Networks	3.00%	Cyber	+127.4%	+3.84%	Zero-trust platform, cyber core
8	SNOW	Snowflake	2.00%	Data	+68.2%	+1.37%	Data platform for AI workloads
9	MU	Micron Technology	4.00%	AI Semis / Memory	+260.7%	+10.48%	HBM/DRAM supercycle leader
10	TSM	Taiwan Semiconductor	4.00%	AI Semis	+50.3%	+2.02%	Foundry to the whole AI complex
11	ASML	ASML Holding NV	3.00%	International / Developed	+67.2%	+2.03%	EUV monopoly
12	LMT	Lockheed Martin	4.00%	Defense	+7.3%	+0.29%	Defense prime, $1.5T budget era
13	RTX	RTX Corp	4.00%	Defense	+2.5%	+0.10%	Defense + aero aftermarket
14	NOC	Northrop Grumman	3.00%	Defense	−14.7%	−0.44%	Strategic deterrent franchise
15	GD	General Dynamics	3.00%	Defense	+0.2%	+0.01%	Combat systems + Gulfstream
16	GEV	GE Vernova	4.00%	Power	+54.0%	+2.17%	Grid + gas turbines, electrification
17	XOM	ExxonMobil	4.00%	Energy	+43.2%	+1.74%	Energy ballast, integrated major
18	CVX	Chevron	3.00%	Energy	+43.0%	+1.30%	Integrated major
19	COP	ConocoPhillips	3.00%	Energy	+46.4%	+1.40%	Low-cost E&P
20	JPM	JPMorgan	4.00%	Bank	+5.3%	+0.21%	Money-center bank, rate tailwind
21	GS	Goldman Sachs	3.00%	Bank	+3.4%	+0.10%	Trading + advisory franchise
22	MS	Morgan Stanley	3.00%	Bank	+8.8%	+0.27%	Wealth + first $20B revenue quarter
23	BRK.B	Berkshire	4.00%	Conglom	+2.6%	+0.10%	Diversified compounder, cash optionality
24	LLY	Eli Lilly	4.00%	Pharma	+10.3%	+0.41%	GLP-1 + pipeline, pharma anchor
25	AZN	AstraZeneca	2.00%	Pharma	−12.5%	−0.25%	Oncology pipeline, intl pharma
26	COST	Costco	3.00%	Staples	+10.3%	+0.31%	Staples compounder
27	WMT	Walmart	2.00%	Staples	+0.6%	+0.01%	Defensive retail + retail media
28	IAU	iShares Gold	3.00%	Gold	−2.8%	−0.09%	Gold hedge, central-bank bid
29	NEM	Newmont	2.00%	Materials / Gold	+18.8%	+0.38%	Gold miner leverage
30	SGOV	iShares 0-3M Treasury ETF	0.25%	Fixed Income / Cash	+2.8%	+0.01%	Cash sleeve
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)

Capital Wealth Energy · $100K · Sector

Pure-play energy & electrification book — integrated majors, E&P, midstream, oilfield services, and the power/grid names that electrify AI demand. Built around the structural supply-risk premium and the $1.4T grid build-out. 26 positions. Portal-synced via slug energy_100k. Performance (current weights, Oct 9 close): YTD +39.7% · 1-yr +41.7% · annualized since inception (2.5 yrs) +26.8%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	7.71%	Energy	+43.2%	+3.35%	Integrated major; Permian + Guyana growth, buyback engine
2	CVX	Chevron	7.71%	Energy	+43.0%	+3.33%	Integrated major; Hess close, low-cost barrels
3	COP	ConocoPhillips	5.79%	Energy	+46.4%	+2.70%	Lowest-cost US E&P, shale scale
4	EOG	EOG Resources	4.82%	Energy	+44.6%	+2.16%	Premium-acreage E&P, capital discipline
5	FANG	Diamondback	4.82%	Energy	+30.0%	+1.45%	Permian pure-play, low breakeven
6	DVN	Devon Energy	3.86%	Energy	+34.2%	+1.33%	High free-cash E&P, variable dividend
7	OXY	Occidental	3.86%	Energy	+48.2%	+1.87%	Permian + carbon capture optionality
8	TPL	Texas Pacific Land	3.86%	Energy	+26.2%	+1.02%	Royalty/land — zero-capex Permian leverage
9	LNG	Cheniere Energy	4.82%	Energy	+44.1%	+2.14%	US LNG export anchor; structural demand
10	SLB	Schlumberger	3.86%	Energy	+29.6%	+1.15%	Oilfield services leader, intl recovery
11	HAL	Halliburton	2.89%	Energy	+16.8%	+0.49%	NAM completions, services cycle
12	EPD	Enterprise Products	3.86%	Energy	+17.8%	+0.69%	Midstream toll model, durable distribution
13	WMB	Williams Companies	3.86%	Energy	+23.5%	+0.91%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas pipeline backbone for data centers
14	KMI	Kinder Morgan	2.89%	Energy	+21.6%	+0.63%	Nat-gas infrastructure, LNG feedgas
15	ET	Energy Transfer	2.95%	Midstream	—	—	Diversified midstream, high yield
16	MPLX	MPLX LP	2.95%	Midstream	+11.7%	+0.35%	Midstream cash machine
17	ENB	Enbridge	2.89%	Energy Div	+1.4%	+0.04%	North American pipeline + utility
18	BP	BP plc	1.93%	Energy	+38.1%	+0.74%	Intl integrated, valuation discount
19	PBR	Petrobras	1.97%	International / EM	+122.8%	+2.43%	High-yield deepwater barrels
20	GEV	GE Vernova	5.42%	Power	+54.0%	+2.94%	Grid + gas turbines — electrification core
21	PWR	Quanta Services	3.94%	DC/Power	+67.4%	+2.67%	Grid construction, AI-power buildout
22	VST	Vistra Energy	2.95%	Power / AI Datacenter	+0.5%	+0.02%	Independent power, data-center PPAs
23	CEG	Constellation Energy	1.97%	Power / Nuclear	−15.3%	−0.30%	Nuclear fleet for 24/7 datacenter load
24	NEE	NextEra Energy	2.95%	Power	−1.5%	−0.04%	Renewables + regulated utility scale
25	CCJ	Cameco	1.97%	Power/Infra	−3.8%	−0.07%	Uranium supply for nuclear restart
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL		99.50%

Capital Wealth Memory & Storage · $100K · Thematic

The memory supercycle, expressed directly — DRAM/HBM and NAND makers, advanced-packaging and wafer-fab equipment, and the systems vendors pulling memory content. HBM is the bottleneck of the AI build. 20 positions. Note: this book's headline YTD is extraordinary because the memory/storage complex has run vertically this year (MU, SanDisk, Western Digital, Seagate all multi-baggers) — it reflects a single hot theme, not a diversified expectation; size accordingly. Portal-synced via slug memory_100k. Performance (current weights, Oct 9 close): YTD +139.1% · 1-yr +183.5% · annualized since inception (1.7 yrs) +155.8%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	MU	Micron Technology	14.00%	AI Semis / Memory	+260.7%	+36.69%	DRAM/HBM marquee — HBM sold out through next year
2	WDC	Western Digital	9.00%	AI Semis / Memory	+130.9%	+11.84%	HDD + enterprise storage, AI data gravity
3	STX	Seagate Technology	8.00%	AI Semis / Memory	+185.3%	+14.89%	Mass-capacity HDD, hyperscaler demand
4	SNDK	SanDisk	5.00%	AI Semis / Memory	+566.4%	+28.46%	NAND pure-play spin, pricing recovery
5	MRVL	Marvell Technology	6.00%	AI Semis	+224.5%	+13.54%	Custom HBM/connectivity silicon
6	AVGO	Broadcom	6.00%	AI Semis	+5.0%	+0.30%	Custom accelerators + HBM interconnect
7	NVDA	NVIDIA	5.00%	AI	+23.2%	+1.17%	HBM demand engine — every GPU is memory-bound
8	AMKR	Amkor Technology	5.00%	AI Semis	+25.0%	+1.26%	Advanced packaging for HBM stacks
9	TSM	Taiwan Semiconductor	6.00%	AI Semis	+50.3%	+3.04%	Foundry + CoWoS packaging capacity
10	ASML	ASML Holding NV	5.00%	International / Developed	+67.2%	+3.38%	EUV litho — DRAM scaling dependency
11	LRCX	Lam Research	5.00%	Semi Equip	+86.8%	+4.36%	Etch/deposition for 3D NAND + DRAM
12	AMAT	Applied Materials	5.00%	Semi Equip	+98.0%	+4.92%	Broadest WFE exposure to memory capex
13	KLAC	KLA Corp	4.00%	Semi Equip	+61.6%	+2.47%	Process control for memory yield
14	DELL	Dell Technologies	4.00%	AI Hardware	+369.8%	+14.87%	AI servers — memory content per box rising
15	SMCI	Super Micro	2.00%	AI Hardware	+43.0%	+0.86%	AI server systems, HBM-heavy SKUs
16	HPE	Hewlett Packard Enterprise	2.00%	AI Hardware	+209.5%	+4.21%	AI systems + storage
17	NXPI	NXP Semiconductors	2.00%	Semis	+6.2%	+0.12%	Edge memory/controllers
18	ADI	Analog Devices	2.00%	Semis	+51.1%	+1.03%	Signal chain for memory systems
19	TXN	Texas Instruments	2.00%	Tech/Semis	+66.3%	+1.33%	Analog content ballast
20	SGOV	iShares 0-3M Treasury ETF	2.50%	Fixed Income / Cash	+2.8%	+0.07%	T-bill cash sleeve
	TOTAL		99.50%

Capital Wealth Quantum · Speculative

A dedicated quantum-computing book — speculative pure-plays (IONQ, RGTI, QBTS, QUBT, ARQQ) sized for asymmetry, paired with big-cap quantum optionality (IBM, Google, NVIDIA, Honeywell/Quantinuum) and a QQQM/gold/cash ballast. A 2030 optionality sleeve, not a core allocation — suitable only where the client can tolerate a 50%+ drawdown on the sleeve. Portal-synced via slug quantum_spec. Performance (current weights, Oct 9 close): YTD +1.2% · 1-yr −11.7% · 5-yr annualized +42.5% · 2022 stress −47.8% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	IONQ	IonQ	13.00%	Quantum Computing	−11.1%	−1.45%	Trapped-ion leader, enterprise contracts
2	RGTI	Rigetti Computing	8.00%	Quantum Computing	−36.7%	−2.95%	Superconducting gate-model, govt programs
3	QBTS	D-Wave Quantum	7.00%	Quantum Computing	−44.3%	−3.12%	Annealing + gate roadmap, commercial pilots
4	QUBT	Quantum Computing Inc.	4.00%	Quantum Computing	−27.5%	−1.11%	Photonic quantum, early-stage
5	ARQQ	Arqit Quantum	3.00%	Quantum Computing	−21.3%	−0.64%	Quantum-safe encryption optionality
6	IBM	IBM	12.00%	Quantum / Compute	−21.8%	−2.62%	Quantum System Two + error-correction roadmap
7	GOOGL	Alphabet	11.00%	Tech/Mag7	+12.6%	+1.39%	Willow chip — error-correction milestone
8	NVDA	NVIDIA	10.00%	AI	+23.2%	+2.33%	CUDA-Q hybrid quantum-classical stack
9	HON	Honeywell (Quantinuum)	7.00%	Quantum / Industrial	+2.9%	+0.20%	Quantinuum — highest-fidelity ion traps
10	QQQM	Invesco NASDAQ-100 ETF (lower-fee class)	12.00%	Tech Tilt	+22.8%	+2.75%	Nasdaq-100 ballast for the speculative sleeve
11	IAU	iShares Gold	7.00%	Gold	−2.8%	−0.20%	Gold hedge against drawdown
12	SGOV	iShares 0-3M Treasury ETF	5.50%	Fixed Income / Cash	+2.8%	+0.16%	T-bill cash buffer
	TOTAL		99.50%

Capital Wealth Mag 7 + AI Infrastructure · $50K · Concentrated

The Magnificent 7 softened with the essential AI-infrastructure backbone (AVGO, TSM, ORCL, DELL, IBM) — the names carrying the AI race and the build-out. Concentrated by design (top name ~11%); a high-conviction satellite, not a diversified core. Portal-synced via slug mag7_aiinfra. Performance (current weights, Oct 9 close): YTD +22.3% · 1-yr +21.4% · 5-yr annualized +30.6% · 2022 stress −32.5% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	NVIDIA	11.00%	Tech/Mag7	+23.2%	+2.57%	AI compute leader — picks & shovels
2	MSFT	Microsoft	10.00%	Tech/Mag7	+11.3%	+1.14%	Azure + Copilot enterprise AI stack
3	AAPL	Apple	9.00%	Tech/Mag7	+24.2%	+2.19%	Cash machine + on-device AI
4	GOOGL	Alphabet	9.00%	Tech/Mag7	+12.6%	+1.14%	Gemini + Search + TPU silicon
5	AMZN	Amazon	8.00%	Tech/Mag7	+13.7%	+1.10%	AWS AI capacity + retail
6	META	Meta	8.00%	Tech/Mag7	+9.2%	+0.74%	Ad engine funding AI infra spend
7	TSLA	Tesla	6.00%	Tech/Mag7	−14.9%	−0.90%	FSD / robotaxi optionality
8	AVGO	Broadcom	7.00%	AI Semis	+5.0%	+0.35%	Custom AI silicon + networking
9	TSM	Taiwan Semiconductor	7.00%	AI Semis	+50.3%	+3.54%	Foundry for every AI chip
10	ORCL	Oracle	6.00%	AI Infra	−26.5%	−1.60%	OCI capacity sold out; AI cloud
11	DELL	Dell Technologies	5.00%	AI Infra	+369.8%	+18.58%	AI servers — the build-out box maker
12	IBM	IBM	5.00%	AI Infra	−21.8%	−1.09%	Enterprise AI + hybrid cloud + quantum
13	SGOV	iShares 0-3M Treasury ETF	5.50%	Fixed Income / Cash	+2.8%	+0.16%	T-bill cash buffer
14	IAU	iShares Gold	3.00%	Gold	−2.8%	−0.09%	Gold hedge against drawdown
	TOTAL		99.50%

Capital Wealth Defense · $50K · Sector

A dedicated defense-sector book — the primes (LMT, RTX, GD, NOC, HII), aerospace suppliers, the defense-software/autonomy layer (PLTR, AXON) and a full drone sleeve — AVAV + KTOS upweighted, DRS counter-drone added Jul 2026, naval nuclear, and a gold/cash ballast. The $1.5T budget era in one sleeve. Portal-synced via slug defense_sector. Performance (current weights, Oct 9 close): YTD −6.5% · 1-yr −10.4% · 5-yr annualized +22.8% · 2022 stress +10.8% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	LMT	Lockheed Martin	9.00%	Defense	+7.3%	+0.66%	Prime — missiles, F-35, hypersonics
2	RTX	RTX Corp	8.00%	Defense	+2.5%	+0.20%	Prime — missiles + engines + radar
3	GD	General Dynamics	7.00%	Defense	+0.2%	+0.01%	Subs, combat systems, Gulfstream
4	NOC	Northrop Grumman	8.00%	Defense	−14.7%	−1.18%	B-21, space, missile defense
5	HII	Huntington Ingalls	5.00%	Defense	−21.2%	−1.06%	Sole builder of US carriers
6	LHX	L3Harris	6.00%	Defense	−18.3%	−1.10%	Comms, ISR, munitions
7	HWM	Howmet Aerospace	6.00%	Aerospace	+10.0%	+0.61%	Engine + airframe structures
8	TDG	TransDigm	5.00%	Aerospace	−16.7%	−0.84%	Proprietary aftermarket parts
9	GE	GE Aerospace	5.00%	Aerospace	+0.5%	+0.02%	Engines — install-base moat
10	PLTR	Palantir	6.00%	Defense/AI	+17.6%	+1.06%	AIP / Gotham — the software layer
11	AXON	Axon Enterprise	5.00%	Defense/AI	−25.5%	−1.28%	Tasers, body-cams, cloud
12	KTOS	Kratos Defense	5.00%	Defense	−44.2%	−2.22%	Drones, hypersonics, targets
13	AVAV	AeroVironment	5.00%	Defense	−43.3%	−2.18%	Small UAS + loitering munitions
14	DRS	Leonardo DRS	3.00%	Defense	+7.0%	+0.21%	Counter-drone + short-range air defense
15	BWXT	BWX Technologies	4.00%	Defense	−16.4%	−0.66%	Naval nuclear reactors
16	LDOS	Leidos	4.00%	Defense	−31.9%	−1.28%	IT/services to the Pentagon
17	SGOV	iShares 0-3M Treasury ETF	4.00%	Fixed Income / Cash	+2.8%	+0.11%	T-bill cash buffer
18	IAU	iShares Gold	4.50%	Gold	−2.8%	−0.13%	Real-asset hedge
	TOTAL		99.50%

Capital Wealth Conservative · $50K · Capital-First

Capital preservation first — a 35 / 50 / 15 split of quality dividend equity, Treasuries/TIPS/investment-grade & muni bonds, and T-bills. Inflation-aware ballast engineered for shallow drawdowns near or in retirement. The book behind the hub’s Conservative tier. Portal-synced via slug conservative_core. Performance (current weights, Oct 9 close): YTD +4.8% · 1-yr +5.8% · 5-yr annualized +4.4% · 2022 stress −4.7% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend Equity ETF	9.74%	Dividend Equity	+23.4%	+2.29%	Quality dividend core
2	JNJ	Johnson & Johnson	3.41%	Health	+28.4%	+0.97%	Defensive healthcare compounder
3	PG	Procter & Gamble	3.41%	Staples	+7.9%	+0.27%	Consumer staples anchor
4	KO	Coca-Cola	2.92%	Staples	+28.4%	+0.83%	Global staple, dividend king
5	PEP	PepsiCo	2.92%	Staples	−9.6%	−0.28%	Snacks + beverages, low beta
6	ABBV	AbbVie	2.92%	Pharma	+23.9%	+0.70%	High-yield pharma
7	DUK	Duke Energy	2.92%	Utilities	+2.1%	+0.06%	Regulated utility income
8	NEE	NextEra Energy	2.92%	Utilities	−1.5%	−0.04%	Utility + renewables
9	VZ	Verizon	1.95%	Telecom	+9.1%	+0.18%	High-yield telecom
10	BRK.B	Berkshire Hathaway	0.97%	Conglom	+2.6%	+0.03%	Cash-rich ballast
11	BND	Vanguard Total Bond ETF	11.69%	Bonds	−2.3%	−0.27%	Core aggregate bond
12	IEF	iShares 7-10Y Treasury	7.79%	Treasury	−4.2%	−0.33%	Intermediate Treasuries
14	VTIP	Vanguard Short-Term TIPS	14.64%	Treasury	+1.3%	+0.19%	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
15	TLT	iShares 20Y+ Treasury	4.87%	Treasury	−7.4%	−0.36%	Long-duration ballast
16	VCIT	Vanguard Interm Corp Bond	4.87%	Bonds	−2.9%	−0.14%	Investment-grade credit
17	MUB	iShares National Muni Bond	4.87%	Bonds	−3.3%	−0.16%	Tax-free muni income
18	SGOV	iShares 0-3M Treasury ETF	6.82%	Cash	+2.8%	+0.19%	T-bill anchor
19	BIL	SPDR 1-3M T-Bill	4.87%	Cash	+2.8%	+0.14%	Cash equivalent
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.50%	Tobacco / Defensive	+28.7%	+0.43%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.00%	Tobacco / Defensive	+2.4%	+0.02%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	USFR	WisdomTree Floating Rate Treasury	2.50%	Income / Rates	+3.0%	+0.08%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Capital Wealth Dividends · $50K · Income

A tight $50K income book — a dividend-ETF core (SCHD/DGRO/VYM), quality payers, and higher-yield income (JEPI/O/MLPs/BDC) for a ~4% blended yield, with a short-duration ballast. Portal-synced via slug dividends_50k. Performance (current weights, Oct 9 close): YTD +10.9% · 1-yr +13.6% · 5-yr annualized +11.3% · 2022 stress −0.0% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend Equity ETF	10.50%	Dividend Equity	+23.4%	+2.47%	Quality dividend core ETF
2	DGRO	iShares Core Dividend Growth ETF	7.00%	Dividend Growth	+12.9%	+0.91%	Dividend growth ETF
3	VYM	Vanguard High Dividend Yield ETF	5.00%	Dividend Equity	+12.6%	+0.63%	High-yield dividend ETF
4	JNJ	Johnson & Johnson	4.00%	Health	+28.4%	+1.14%	Defensive healthcare compounder
5	PG	Procter & Gamble	4.00%	Staples	+7.9%	+0.32%	Consumer staples anchor
6	ABBV	AbbVie	4.00%	Pharma	+23.9%	+0.96%	High-yield pharma
7	KO	Coca-Cola	3.00%	Staples	+28.4%	+0.86%	Dividend king
8	PEP	PepsiCo	3.00%	Staples	−9.6%	−0.29%	Snacks + beverages, low beta
9	JPM	JPMorgan	3.00%	Banks	+5.3%	+0.16%	Best-in-class bank dividend
10	HD	Home Depot	3.50%	Retail	−13.7%	−0.48%	Retail dividend grower
11	CAT	Caterpillar	3.50%	Industrial	+40.6%	+1.43%	Industrial cyclical dividend
12	JEPI	JPMorgan Equity Premium Income ETF	7.00%	Covered Call	+5.3%	+0.37%	Covered-call monthly income
13	O	Realty Income	5.00%	REIT	−0.0%	−0.00%	Monthly-pay net-lease REIT
14	ENB	Enbridge	5.00%	Midstream	+1.4%	+0.07%	Midstream high yield
15	MAIN	Main Street Capital	6.00%	BDC	−5.2%	−0.31%	BDC monthly dividend
16	MPLX	MPLX LP	3.00%	Midstream	+11.7%	+0.35%	MLP distribution
17	VZ	Verizon	3.00%	Telecom	+9.1%	+0.27%	High-yield telecom
18	SGOV	iShares 0-3M Treasury ETF	7.50%	Cash	+2.8%	+0.21%	T-bill cash buffer
19	VTIP	Vanguard Short-Term TIPS ETF	4.00%	Treasury	+1.3%	+0.05%	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
20	IEF	iShares 7-10Y Treasury	2.50%	Treasury	−4.2%	−0.11%	Intermediate Treasuries
+	MO	Altria Group	2.50%	Tobacco / Defensive	+30.3%	+0.76%	NEW Jul 11 — ~6.7% yield Dividend King; 56 straight annual raises; recession-proof cash flows
+	PM	Philip Morris Intl	2.00%	Tobacco / Defensive	+28.7%	+0.58%	NEW Jul 11 — ZYN smoke-free growth + ~3% yield; Siegel: the original S&P 500’s best performer
	TOTAL		99.50%
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)

Capital Wealth ETF Midterm · $50K · Broad-Market Tilt

The all-ETF expression of the midterm posture (Nov 2026) — the same tilt the single-name Midterm Election Dividend books run, built entirely from low-cost index ETFs so it can be implemented in any account with open-market access. Quality and dividend tilts over the core, three defensive sectors, real assets against the fiscal risk, and deliberately short duration on the bond side. Written to be reversed once the vote resolves. Portal-synced via slug etf_midterm. See The Midterm Shift for the thesis and the exit conditions.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VOO	Vanguard S&P 500 ETF	19.50%	Core US	+15.1%	+2.96%	Core index that does not move for an election
2	VTV	Vanguard Value ETF	12.00%	Value	+17.3%	+2.08%	Cheaper earnings yield; holds up when multiples compress
3	VO	Vanguard Mid-Cap ETF	6.00%	Mid Cap	+12.6%	+0.76%	Domestic, less policy-sensitive than mega-cap
4	VIG	Vanguard Dividend Appreciation	9.00%	Dividend Growth	+10.1%	+0.91%	Ten-year raisers — a quality screen in income clothing
5	VYM	Vanguard High Dividend Yield	7.00%	Dividend Yield	+12.6%	+0.88%	The income half of the tilt; falls less in drawdowns
6	VDC	Vanguard Consumer Staples	6.00%	Staples	+8.9%	+0.54%	Demand that does not consult the ballot
7	VPU	Vanguard Utilities	5.00%	Utilities	−1.2%	−0.06%	Defensive, and the least speculative way to own AI power
8	VHT	Vanguard Health Care	5.00%	Health	+12.0%	+0.60%	Cheap because of election headline risk — sized small on purpose
9	VEA	Vanguard Developed Markets	8.00%	Intl Developed	+13.7%	+1.10%	Cheaper starting multiple, softer dollar
10	VWO	Vanguard Emerging Markets	3.00%	Intl EM	+11.5%	+0.35%	Small, deliberate, uncorrelated to the US cycle
11	VDE	Vanguard Energy	4.00%	Energy	+47.3%	+1.90%	Hedge for what November does not settle: deficits
12	VNQ	Vanguard Real Estate	3.00%	Real Estate	+5.3%	+0.16%	Hedges something the rest of the book does not
13	SGOV	iShares 0-3M Treasury ETF	6.00%	T-Bills	+2.8%	+0.17%	Sep 1 — moved from VTIP: T-bills out-yield short TIPS (+2.4% vs +1.8% YTD) while the Fed holds or hikes; zero price risk into the vote
14	BSV	Vanguard Short-Term Bond	6.00%	Short Bond	−0.1%	−0.01%	Short on purpose — the safe sleeve must not be the risk
	TOTAL		99.50%			+12.95%

Capital Wealth ETF Midterm · $100K · Broad-Market Tilt

The $100K tier of the all-ETF midterm posture — the $50K core broadened with a dedicated small-cap line, international small-caps and a gold sleeve, and the bond side split across TIPS, Treasuries and short credit. Same tilt, same exit conditions — written to be reversed once the vote resolves. Portal-synced via slug etf_midterm_100k. See The Midterm Shift for the thesis.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VOO	Vanguard S&P 500 ETF	17.00%	Core US	+15.1%	+2.58%	Core index that does not move for an election
2	VTV	Vanguard Value ETF	11.00%	Value	+17.3%	+1.91%	Cheaper earnings yield; holds up when multiples compress
3	VO	Vanguard Mid-Cap ETF	5.00%	Mid Cap	+12.6%	+0.63%	Domestic, less policy-sensitive than mega-cap
4	VB	Vanguard Small-Cap ETF	4.00%	Small Cap	+13.3%	+0.54%	Size exposure the $50K tier reaches only indirectly
5	VIG	Vanguard Dividend Appreciation	8.00%	Dividend Growth	+10.1%	+0.81%	Ten-year raisers — a quality screen in income clothing
6	VYM	Vanguard High Dividend Yield	6.50%	Dividend Yield	+12.6%	+0.82%	The income half of the tilt; falls less in drawdowns
7	VDC	Vanguard Consumer Staples	5.50%	Staples	+8.9%	+0.49%	Demand that does not consult the ballot
8	VPU	Vanguard Utilities	4.50%	Utilities	−1.2%	−0.05%	Defensive, and the least speculative way to own AI power
9	VHT	Vanguard Health Care	4.50%	Health	+12.0%	+0.54%	Cheap because of election headline risk — sized small on purpose
10	VEA	Vanguard Developed Markets	7.00%	Intl Developed	+13.7%	+0.96%	Cheaper starting multiple, softer dollar
11	VWO	Vanguard Emerging Markets	3.00%	Intl EM	+11.5%	+0.35%	Small, deliberate, uncorrelated to the US cycle
12	VSS	Vanguard FTSE All-World ex-US Small	2.00%	Intl Small	+9.0%	+0.18%	Breadth outside the US mega-caps
13	VDE	Vanguard Energy	4.00%	Energy	+47.3%	+1.90%	Hedge for what November does not settle: deficits
14	VNQ	Vanguard Real Estate	3.00%	Real Estate	+5.3%	+0.16%	Hedges something the rest of the book does not
15	IAU	iShares Gold Trust	3.00%	Gold	−2.8%	−0.09%	The standing hedge for the year growth stalls
16	SGOV	iShares 0-3M Treasury ETF	5.00%	T-Bills	+2.8%	+0.14%	Sep 1 — moved from VTIP: T-bills out-yield short TIPS (+2.4% vs +1.8% YTD) while the Fed holds or hikes; zero price risk into the vote
17	BSV	Vanguard Short-Term Bond	4.00%	Short Bond	−0.1%	−0.00%	Short on purpose — the safe sleeve must not be the risk
18	VCSH	Vanguard Short-Term Corporate	2.50%	Short Credit	+0.3%	+0.01%	A little spread, still inside two years of duration
	TOTAL		99.50%			+12.92%

Capital Wealth ETF Midterm · $250K · Broad-Market Tilt

The $250K tier — the same posture at finer resolution: the value tilt carried down into small-caps, international income split between yield and dividend growth, and the first rung of a real bond ladder. Same tilt, same exit conditions — written to be reversed once the vote resolves. Portal-synced via slug etf_midterm_250k. See The Midterm Shift for the thesis.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VOO	Vanguard S&P 500 ETF	15.00%	Core US	+15.1%	+2.27%	Core index that does not move for an election
2	VTV	Vanguard Value ETF	10.00%	Value	+17.3%	+1.73%	Cheaper earnings yield; holds up when multiples compress
3	VO	Vanguard Mid-Cap ETF	4.50%	Mid Cap	+12.6%	+0.57%	Domestic, less policy-sensitive than mega-cap
4	VB	Vanguard Small-Cap ETF	3.00%	Small Cap	+13.3%	+0.40%	Size exposure, held through the chop
5	VBR	Vanguard Small-Cap Value	2.50%	Small Value	+12.3%	+0.31%	The value tilt carried down the size scale
6	VIG	Vanguard Dividend Appreciation	7.50%	Dividend Growth	+10.1%	+0.76%	Ten-year raisers — a quality screen in income clothing
7	VYM	Vanguard High Dividend Yield	6.00%	Dividend Yield	+12.6%	+0.76%	The income half of the tilt
8	VYMI	Vanguard Intl High Dividend Yield	2.50%	Intl Dividend	+15.0%	+0.38%	Income that is not priced in dollars
9	VIGI	Vanguard Intl Dividend Appreciation	1.50%	Intl Div Growth	+5.2%	+0.08%	The quality screen, applied outside the US
10	VDC	Vanguard Consumer Staples	5.00%	Staples	+8.9%	+0.45%	Demand that does not consult the ballot
11	VPU	Vanguard Utilities	4.00%	Utilities	−1.2%	−0.05%	Defensive, and the least speculative way to own AI power
12	VHT	Vanguard Health Care	4.00%	Health	+12.0%	+0.48%	Cheap because of election headline risk
13	VEA	Vanguard Developed Markets	6.50%	Intl Developed	+13.7%	+0.89%	Cheaper starting multiple, softer dollar
14	VWO	Vanguard Emerging Markets	3.00%	Intl EM	+11.5%	+0.35%	Small, deliberate, uncorrelated to the US cycle
15	VSS	Vanguard FTSE All-World ex-US Small	2.00%	Intl Small	+9.0%	+0.18%	Breadth outside the US mega-caps
16	VDE	Vanguard Energy	3.50%	Energy	+47.3%	+1.66%	Hedge for what November does not settle
17	VNQ	Vanguard Real Estate	3.00%	Real Estate	+5.3%	+0.16%	Hedges something the rest of the book does not
18	IAU	iShares Gold Trust	3.00%	Gold	−2.8%	−0.09%	The standing hedge for the year growth stalls
19	SGOV	iShares 0-3M Treasury ETF	4.50%	T-Bills	+2.8%	+0.13%	Sep 1 — moved from VTIP: T-bills out-yield short TIPS (+2.4% vs +1.8% YTD) while the Fed holds or hikes; zero price risk into the vote
20	BSV	Vanguard Short-Term Bond	3.50%	Short Bond	−0.1%	−0.00%	Short on purpose
21	VCSH	Vanguard Short-Term Corporate	2.50%	Short Credit	+0.3%	+0.01%	A little spread, still short
22	VGIT	Vanguard Intermediate Treasury	2.50%	Treasury	−2.6%	−0.06%	The first rung of a ladder the smaller tiers cannot build
	TOTAL		99.50%			+12.67%

Capital Wealth ETF Midterm · $500K · Broad-Market Tilt

The $500K tier — the fullest expression: value at mid- and small-cap, international income on both screens, materials alongside energy, global real estate beside domestic, and a three-rung Treasury ladder. Same tilt, same exit conditions — written to be reversed once the vote resolves. Portal-synced via slug etf_midterm_500k. See The Midterm Shift for the thesis.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VOO	Vanguard S&P 500 ETF	12.50%	Core US	+15.1%	+1.90%	Core index that does not move for an election
2	VTV	Vanguard Value ETF	9.00%	Value	+17.3%	+1.56%	Cheaper earnings yield; holds up when multiples compress
3	VOE	Vanguard Mid-Cap Value	3.00%	Mid Value	+15.8%	+0.48%	The value tilt expressed in the middle of the market
4	VO	Vanguard Mid-Cap ETF	4.00%	Mid Cap	+12.6%	+0.51%	Domestic, less policy-sensitive than mega-cap
5	VB	Vanguard Small-Cap ETF	3.00%	Small Cap	+13.3%	+0.40%	Size exposure, held through the chop
6	VBR	Vanguard Small-Cap Value	2.50%	Small Value	+12.3%	+0.31%	The value tilt carried down the size scale
7	VIG	Vanguard Dividend Appreciation	7.00%	Dividend Growth	+10.1%	+0.71%	Ten-year raisers — quality in income clothing
8	VYM	Vanguard High Dividend Yield	5.50%	Dividend Yield	+12.6%	+0.69%	The income half of the tilt
9	VIGI	Vanguard Intl Dividend Appreciation	2.00%	Intl Div Growth	+5.2%	+0.10%	The quality screen, applied outside the US
10	VYMI	Vanguard Intl High Dividend Yield	2.50%	Intl Dividend	+15.0%	+0.38%	Income that is not priced in dollars
11	VDC	Vanguard Consumer Staples	4.50%	Staples	+8.9%	+0.40%	Demand that does not consult the ballot
12	VPU	Vanguard Utilities	3.50%	Utilities	−1.2%	−0.04%	Defensive, and AI power demand without the speculation
13	VHT	Vanguard Health Care	3.50%	Health	+12.0%	+0.42%	Cheap because of election headline risk
14	VEA	Vanguard Developed Markets	6.00%	Intl Developed	+13.7%	+0.82%	Cheaper starting multiple, softer dollar
15	VWO	Vanguard Emerging Markets	2.50%	Intl EM	+11.5%	+0.29%	Small, deliberate, uncorrelated to the US cycle
16	VSS	Vanguard FTSE All-World ex-US Small	2.00%	Intl Small	+9.0%	+0.18%	Breadth outside the US mega-caps
17	VDE	Vanguard Energy	3.50%	Energy	+47.3%	+1.66%	Hedge for what November does not settle
18	VAW	Vanguard Materials	2.00%	Materials	+7.9%	+0.16%	Real-asset adjacency the smaller tiers cannot afford a line for
19	VNQ	Vanguard Real Estate	2.50%	Real Estate	+5.3%	+0.13%	Hedges something the rest of the book does not
20	VNQI	Vanguard Global ex-US Real Estate	1.50%	Intl Real Estate	−8.1%	−0.12%	Property risk that is not a US rates bet
21	IAU	iShares Gold Trust	3.00%	Gold	−2.8%	−0.09%	The standing hedge for the year growth stalls
22	SGOV	iShares 0-3M Treasury ETF	4.00%	T-Bills	+2.8%	+0.11%	Sep 1 — moved from VTIP: T-bills out-yield short TIPS (+2.4% vs +1.8% YTD) while the Fed holds or hikes; zero price risk into the vote
23	BSV	Vanguard Short-Term Bond	3.00%	Short Bond	−0.1%	−0.00%	Short on purpose
24	VCSH	Vanguard Short-Term Corporate	2.50%	Short Credit	+0.3%	+0.01%	A little spread, still short
25	VGIT	Vanguard Intermediate Treasury	2.50%	Treasury	−2.6%	−0.06%	The middle rung of the ladder
26	VGSH	Vanguard Short-Term Treasury	2.00%	Treasury	+0.8%	+0.02%	The closest thing to cash on an all-ETF menu
	TOTAL		99.50%			+12.49%

Capital Wealth Midterm Election Dividend · $50K · Defensive Income

The midterm-election book (Nov 2026) — defensive dividend payers (staples, healthcare, utilities, telecom) to ride out pre-election chop, paired with consumer-discretionary dividend growers positioned for the historical post-midterm relief rally, over a T-bill/gold ballast. Portal-synced via slug midterm_dividend_50k. Performance (baked, Sep 16 close): 1-yr +14.9% · annualized since Sep 2021 (5.0 yrs) +11.6% · 2022 calendar year +6.5% vs S&P 500 −18.2% · max drawdown −10.1% vs S&P 500 −24.5% over the same window · beta 0.37. Sep 1 2026 rebuild: consumer-discretionary payers trimmed by about a third (nothing exited — gas at $4.30 is their customer's problem), funding defensive adds (GILD, PFE, CHD at 2% and a dividend-paying quality-tech pair (MSFT, AVGO) at 2%). Sep 15 2026: energy sleeve doubled from 4.5% to 9.0% — XOM, COP, EOG, DVN, FANG, EPD, OKE, KMI, ENB added at 0.5% each, with Brent near $107 — and an industrials seat added (UNP, HON, LMT, GD at 2% each), funded pro rata from staples and utilities (26.8% → 14.3% of the book). JNJ trimmed from 5.48% to the 5% house cap; the 0.48% went to SGOV. Sep 16 2026 — repositioned for low volatility and income into Nov 3, the afternoon the Fed raised to 3.75–4.00%: T-bills raised to 14.9% with the money from the exits — the reserve for the letter’s buys at −8%, −12% and on Nov 3, in thirds; the Sep 15 producer seats out (XOM, COP, EOG, DVN, FANG) — not chasing oil; the high-volatility names that pay nothing before Nov 3 out (GPC, TGT, AVGO); PFE trimmed per the Aug 13 decision; the 0.5% pipeline seats consolidated into KMI and OKE at 1% (EPD, ENB out); PNC and USB added (both pay before Nov 3); gold halved; every other seat unchanged. Approx. blended dividend yield ≈ 2.6% (holdings-weighted trailing 12-month yield, Yahoo Finance, computed 2026-09-16 by scripts/build-dividend-yields.js; covers 100% of book weight).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	PG	Procter & Gamble	2.66%	Staples	+7.9%	+0.21%	Staples anchor — election-proof demand
2	KO	Coca-Cola	2.12%	Staples	+28.4%	+0.60%	Dividend king, global staple
3	PEP	PepsiCo	2.12%	Staples	−9.6%	−0.20%	Snacks + beverages, low beta
4	CL	Colgate-Palmolive	1.86%	Staples	+13.7%	+0.26%	Dividend king — 60+ yrs of raises
5	JNJ	Johnson & Johnson	5.00%	Health	+28.4%	+1.43%	Defensive healthcare compounder
6	ABBV	AbbVie	4.47%	Pharma	+23.9%	+1.07%	High-yield pharma
7	MRK	Merck	3.97%	Pharma	+41.2%	+1.64%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda cash flow, defensive pharma
8	AMGN	Amgen	3.48%	Pharma	+29.3%	+1.03%	Biotech dividend grower
9	SO	Southern Company	1.59%	Utilities	+1.3%	+0.02%	Regulated utility + data-center load
10	DUK	Duke Energy	1.59%	Utilities	+2.1%	+0.03%	Regulated utility income
11	AEP	American Electric Power	1.32%	Utilities	+8.9%	+0.12%	Transmission backbone, regulated
12	VZ	Verizon	2.48%	Telecom	+9.1%	+0.23%	High-yield telecom
13	WM	Waste Management	3.48%	Defensive Services	−3.7%	−0.13%	Waste — recession & election-proof
14	MCD	McDonald's	3.48%	Consumer Disc.	−21.5%	−0.75%	Aristocrat — trade-down winner
15	HD	Home Depot	3.48%	Consumer Disc.	−13.7%	−0.48%	Home-improvement dividend grower
16	LOW	Lowe's	2.48%	Consumer Disc.	−21.7%	−0.54%	Housing turnover optionality + buybacks
17	TJX	TJX Companies	2.48%	Consumer Disc.	−8.8%	−0.22%	Off-price wins when wallets tighten
18	SBUX	Starbucks	1.99%	Consumer Disc.	+9.7%	+0.19%	Turnaround + growing dividend
19	YUM	Yum! Brands	1.99%	Consumer Disc.	−2.9%	−0.06%	Franchised, asset-light royalty stream
20	SGOV	iShares 0-3M Treasury ETF	14.90%	Cash	+2.8%	+0.43%	T-bill buffer for election volatility
21	IAU	iShares Gold	1.99%	Gold	−2.8%	−0.06%	Gold hedge against policy shock
	TOTAL		99.50%
+	PM	Philip Morris Intl	2.00%	Tobacco / Defensive	+28.7%	+0.58%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	CB	Chubb	1.50%	Financials / Insurance	+10.3%	+0.16%	P&C float reinvested at 4.6% — rate tailwind with no credit cycle
+	AFL	Aflac	1.50%	Financials / Insurance	+5.5%	+0.08%	Supplemental insurer, low beta, decades of dividend growth
+	CME	CME Group	1.50%	Financials / Exchange	+6.2%	+0.09%	Earns more when volatility rises — and interest on margin balances
+	CVX	Chevron	2.50%	Energy / Dividend	+43.0%	+1.08%	NEW Aug 9 — record $14.5B quarter, dividend covered ~2x. The dividend book’s missing energy sleeve (WSJ, Aug 3–7 2026)
+	WMB	Williams Companies	2.00%	Energy / Midstream	+23.5%	+0.47%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. NEW Aug 9 — fee-based pipeline tolls, covered distribution, indifferent to pump-price politics (WSJ, Aug 7 2026)
+	DG	Dollar General	1.00%	Consumer / Defensive	−2.3%	−0.02%	NEW Aug 28 — the value-shopper defensive: Q2 sales +5.2% to $11.29B, profit $550.3M vs $411.4M; dividend covered with room to spare (WSJ, Aug 28 2026)
+	GILD	Gilead Sciences	2.00%	Healthcare	+25.4%	+0.51%	NEW Sep 1 — HIV-franchise cash flow, dividend grower; healthcare is the defensive that is actually being paid (+20% YTD)
+	CHD	Church & Dwight	1.07%	Staples	+18.1%	+0.19%	NEW Sep 1 — Arm & Hammer household staples, 30 years of raises
+	MSFT	Microsoft	2.00%	Quality Tech / Dividend	+11.3%	+0.23%	NEW Sep 1 — dividend-paying quality-tech sleeve: the earnings engine the book lacked, sized so it cannot lead a selloff
+	OKE	ONEOK	1.00%	Energy / Midstream	+26.8%	+0.27%	NEW Sep 15 — energy sleeve doubled: midstream C-corp (1099)
+	KMI	Kinder Morgan	1.00%	Energy / Midstream	+21.6%	+0.22%	NEW Sep 15 — energy sleeve doubled: natural-gas pipelines, C-corp (1099)
+	UNP	Union Pacific	2.00%	Defense/Industrial	+22.1%	+0.45%	NEW Sep 15 — industrials seat: freight rail
+	HON	Honeywell	2.00%	Defense/Industrial	+2.9%	+0.06%	NEW Sep 15 — industrials seat: diversified industrial
+	LMT	Lockheed Martin	2.00%	Defense/Industrial	+7.3%	+0.15%	NEW Sep 15 — industrials seat: defense prime
+	GD	General Dynamics	2.00%	Defense/Industrial	+0.2%	+0.00%	NEW Sep 15 — industrials seat: defense prime
+	PNC	PNC Financial Services	1.00%	Financials / Bank	+7.5%	+0.08%	NEW Sep 16 — regional bank paid before Nov 3 (ex-date ~Oct 25); 3.5% yield, 22% vol
+	USB	U.S. Bancorp	1.00%	Financials / Bank	+10.0%	+0.10%	NEW Sep 16 — bank paid before Nov 3 (ex-date ~Sep 30); 3.3% yield, 23% vol

Capital Wealth Midterm Election Dividend · $100K · Defensive Income

The $100K tier of the midterm-election book (Nov 2026) — the $50K core broadened with dividend-king staples (KMB/GIS), a regulated-utility aristocrat (ED) and value dining (DRI). Defensive payers ride the pre-election chop; discretionary dividend growers catch the post-midterm rally. Portal-synced via slug midterm_dividend_100k. Performance (baked, Sep 16 close): 1-yr +13.7% · annualized since Sep 2021 (5.0 yrs) +11.3% · 2022 calendar year +6.8% vs S&P 500 −18.2% · max drawdown −10.0% vs S&P 500 −24.5% over the same window · beta 0.37. Sep 1 2026 rebuild: consumer-discretionary payers trimmed by about a third (nothing exited — gas at $4.30 is their customer's problem), funding defensive adds (GILD, PFE, CHD at 2% and a dividend-paying quality-tech pair (MSFT, AVGO) at 2%). Sep 15 2026: energy sleeve doubled from 4.5% to 9.0% — XOM, COP, EOG, DVN, FANG, EPD, OKE, KMI, ENB added at 0.5% each, with Brent near $107 — and an industrials seat added (UNP, HON, LMT, GD at 2% each), funded pro rata from staples and utilities (31.1% → 18.6% of the book). Sep 16 2026 — repositioned for low volatility and income into Nov 3, the afternoon the Fed raised to 3.75–4.00%: T-bills raised to 13.6% with the money from the exits — the reserve for the letter’s buys at −8%, −12% and on Nov 3, in thirds; the Sep 15 producer seats out (XOM, COP, EOG, DVN, FANG) — not chasing oil; the high-volatility names that pay nothing before Nov 3 out (GPC, TGT, AVGO); PFE trimmed per the Aug 13 decision; the 0.5% pipeline seats consolidated into KMI and OKE at 1% (EPD, ENB out); PNC and USB added (both pay before Nov 3); gold halved; every other seat unchanged. Approx. blended dividend yield ≈ 2.7% (holdings-weighted trailing 12-month yield, Yahoo Finance, computed 2026-09-16 by scripts/build-dividend-yields.js; covers 100% of book weight).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	PG	Procter & Gamble	2.96%	Staples	+7.9%	+0.23%	Staples anchor — election-proof demand
2	KO	Coca-Cola	2.36%	Staples	+28.4%	+0.67%	Dividend king, global staple
3	PEP	PepsiCo	2.07%	Staples	−9.6%	−0.20%	Snacks + beverages, low beta
4	CL	Colgate-Palmolive	1.77%	Staples	+13.7%	+0.24%	Dividend king — 60+ yrs of raises
5	KMB	Kimberly-Clark	1.48%	Staples	+0.5%	+0.01%	Aristocrat — tissue & diapers staple
6	GIS	General Mills	1.48%	Staples	−27.2%	−0.40%	Packaged food, steady payer
7	JNJ	Johnson & Johnson	4.94%	Health	+28.4%	+1.41%	Defensive healthcare compounder
8	ABBV	AbbVie	3.95%	Pharma	+23.9%	+0.95%	High-yield pharma
9	MRK	Merck	3.45%	Pharma	+41.2%	+1.43%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda cash flow, defensive pharma
10	AMGN	Amgen	2.96%	Pharma	+29.3%	+0.87%	Biotech dividend grower
11	SO	Southern Company	1.48%	Utilities	+1.3%	+0.02%	Regulated utility + data-center load
12	DUK	Duke Energy	1.48%	Utilities	+2.1%	+0.03%	Regulated utility income
13	AEP	American Electric Power	1.18%	Utilities	+8.9%	+0.11%	Transmission backbone, regulated
14	ED	Consolidated Edison	1.18%	Utilities	+9.5%	+0.11%	Aristocrat — regulated NYC utility
15	VZ	Verizon	1.97%	Telecom	+9.1%	+0.18%	High-yield telecom
16	WM	Waste Management	3.45%	Defensive Services	−3.7%	−0.13%	Waste — recession & election-proof
17	MCD	McDonald's	2.96%	Consumer Disc.	−21.5%	−0.64%	Aristocrat — trade-down winner
18	HD	Home Depot	2.96%	Consumer Disc.	−13.7%	−0.41%	Home-improvement dividend grower
19	LOW	Lowe's	2.47%	Consumer Disc.	−21.7%	−0.54%	Housing turnover optionality + buybacks
20	TJX	TJX Companies	2.47%	Consumer Disc.	−8.8%	−0.22%	Off-price wins when wallets tighten
21	SBUX	Starbucks	1.48%	Consumer Disc.	+9.7%	+0.14%	Turnaround + growing dividend
22	YUM	Yum! Brands	1.97%	Consumer Disc.	−2.9%	−0.06%	Franchised, asset-light royalty stream
23	DRI	Darden Restaurants	0.99%	Consumer Disc.	+10.8%	+0.11%	Olive Garden — value dining resilience
24	SGOV	iShares 0-3M Treasury ETF	13.61%	Cash	+2.8%	+0.39%	T-bill buffer for election volatility
25	IAU	iShares Gold	1.73%	Gold	−2.8%	−0.05%	Gold hedge against policy shock
	TOTAL		99.50%
+	PM	Philip Morris Intl	2.00%	Tobacco / Defensive	+28.7%	+0.58%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	CB	Chubb	1.50%	Financials / Insurance	+10.3%	+0.16%	P&C float reinvested at 4.6% — rate tailwind with no credit cycle
+	AFL	Aflac	1.50%	Financials / Insurance	+5.5%	+0.08%	Supplemental insurer, low beta, decades of dividend growth
+	CME	CME Group	1.50%	Financials / Exchange	+6.2%	+0.09%	Earns more when volatility rises — and interest on margin balances
+	CVX	Chevron	2.50%	Energy / Dividend	+43.0%	+1.08%	NEW Aug 9 — record $14.5B quarter, dividend covered ~2x. The dividend book’s missing energy sleeve (WSJ, Aug 3–7 2026)
+	WMB	Williams Companies	2.00%	Energy / Midstream	+23.5%	+0.47%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. NEW Aug 9 — fee-based pipeline tolls, covered distribution, indifferent to pump-price politics (WSJ, Aug 7 2026)
+	DG	Dollar General	1.00%	Consumer / Defensive	−2.3%	−0.02%	NEW Aug 28 — the value-shopper defensive: Q2 sales +5.2% to $11.29B, profit $550.3M vs $411.4M; dividend covered with room to spare (WSJ, Aug 28 2026)
+	GILD	Gilead Sciences	2.00%	Healthcare	+25.4%	+0.51%	NEW Sep 1 — HIV-franchise cash flow, dividend grower; healthcare is the defensive that is actually being paid (+20% YTD)
+	CHD	Church & Dwight	1.20%	Staples	+18.1%	+0.22%	NEW Sep 1 — Arm & Hammer household staples, 30 years of raises
+	MSFT	Microsoft	2.00%	Quality Tech / Dividend	+11.3%	+0.23%	NEW Sep 1 — dividend-paying quality-tech sleeve: the earnings engine the book lacked, sized so it cannot lead a selloff
+	OKE	ONEOK	1.00%	Energy / Midstream	+26.8%	+0.27%	NEW Sep 15 — energy sleeve doubled: midstream C-corp (1099)
+	KMI	Kinder Morgan	1.00%	Energy / Midstream	+21.6%	+0.22%	NEW Sep 15 — energy sleeve doubled: natural-gas pipelines, C-corp (1099)
+	UNP	Union Pacific	2.00%	Defense/Industrial	+22.1%	+0.45%	NEW Sep 15 — industrials seat: freight rail
+	HON	Honeywell	2.00%	Defense/Industrial	+2.9%	+0.06%	NEW Sep 15 — industrials seat: diversified industrial
+	LMT	Lockheed Martin	2.00%	Defense/Industrial	+7.3%	+0.15%	NEW Sep 15 — industrials seat: defense prime
+	GD	General Dynamics	2.00%	Defense/Industrial	+0.2%	+0.00%	NEW Sep 15 — industrials seat: defense prime
+	PNC	PNC Financial Services	1.00%	Financials / Bank	+7.5%	+0.08%	NEW Sep 16 — regional bank paid before Nov 3 (ex-date ~Oct 25); 3.5% yield, 22% vol
+	USB	U.S. Bancorp	1.00%	Financials / Bank	+10.0%	+0.10%	NEW Sep 16 — bank paid before Nov 3 (ex-date ~Sep 30); 3.3% yield, 23% vol

Capital Wealth Midterm Election Dividend · $250K · Defensive Income

The $250K tier of the midterm-election book (Nov 2026) — the $100K set widened with global snacking (MDLZ), a second high-yield telecom (T), another regulated utility (XEL), waste #2 (RSG) and a contrarian discretionary aristocrat (NKE). Portal-synced via slug midterm_dividend_250k. Performance (baked, Sep 16 close): 1-yr +12.8% · annualized since Sep 2021 (5.0 yrs) +11.3% · 2022 calendar year +7.0% vs S&P 500 −18.2% · max drawdown −10.3% vs S&P 500 −24.5% over the same window · beta 0.35. Sep 1 2026 rebuild: consumer-discretionary payers trimmed by about a third (nothing exited — gas at $4.30 is their customer's problem), funding defensive adds (GILD, PFE, CHD, SYY, ADM, PGR at 1% and a dividend-paying quality-tech sleeve (MSFT, AAPL, AVGO, TXN) at 1%). Sep 15 2026: energy sleeve doubled from 4.5% to 9.0% — XOM, COP, EOG, DVN, FANG, EPD, OKE, KMI, ENB added at 0.5% each, with Brent near $107 — and an industrials seat added (UNP, HON, LMT, GD at 1% each), funded pro rata from staples and utilities (34.6% → 26.1% of the book). Sep 16 2026 — repositioned for low volatility and income into Nov 3, the afternoon the Fed raised to 3.75–4.00%: T-bills raised to 11.4% with the money from the exits — the reserve for the letter’s buys at −8%, −12% and on Nov 3, in thirds; the Sep 15 producer seats out (XOM, COP, EOG, DVN, FANG) — not chasing oil; the high-volatility names that pay nothing before Nov 3 out (NKE, GPC, TGT, AVGO, TXN); PFE trimmed per the Aug 13 decision; PNC and USB added (both pay before Nov 3); gold halved; every other seat unchanged. Approx. blended dividend yield ≈ 2.8% (holdings-weighted trailing 12-month yield, Yahoo Finance, computed 2026-09-16 by scripts/build-dividend-yields.js; covers 100% of book weight).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	PG	Procter & Gamble	2.63%	Staples	+7.9%	+0.21%	Staples anchor — election-proof demand
2	KO	Coca-Cola	2.23%	Staples	+28.4%	+0.64%	Dividend king, global staple
3	PEP	PepsiCo	2.23%	Staples	−9.6%	−0.21%	Snacks + beverages, low beta
4	CL	Colgate-Palmolive	2.23%	Staples	+13.7%	+0.31%	Dividend king — 60+ yrs of raises
5	KMB	Kimberly-Clark	1.86%	Staples	+0.5%	+0.01%	Aristocrat — tissue & diapers staple
6	GIS	General Mills	1.86%	Staples	−27.2%	−0.51%	Packaged food, steady payer
7	MDLZ	Mondelez	1.86%	Staples	+15.2%	+0.28%	Global snacking, dividend grower
8	JNJ	Johnson & Johnson	3.96%	Health	+28.4%	+1.13%	Defensive healthcare compounder
9	ABBV	AbbVie	3.45%	Pharma	+23.9%	+0.83%	High-yield pharma
10	MRK	Merck	2.96%	Pharma	+41.2%	+1.23%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda cash flow, defensive pharma
11	AMGN	Amgen	2.96%	Pharma	+29.3%	+0.87%	Biotech dividend grower
12	SO	Southern Company	2.23%	Utilities	+1.3%	+0.03%	Regulated utility + data-center load
13	DUK	Duke Energy	1.86%	Utilities	+2.1%	+0.04%	Regulated utility income
14	AEP	American Electric Power	1.86%	Utilities	+8.9%	+0.17%	Transmission backbone, regulated
15	ED	Consolidated Edison	1.49%	Utilities	+9.5%	+0.14%	Aristocrat — regulated NYC utility
16	XEL	Xcel Energy	1.49%	Utilities	+2.2%	+0.03%	Regulated utility, dividend grower
17	VZ	Verizon	1.97%	Telecom	+9.1%	+0.18%	High-yield telecom
18	T	AT&T	1.97%	Telecom	−6.5%	−0.13%	High-yield telecom, deleveraged
19	WM	Waste Management	2.96%	Defensive Services	−3.7%	−0.11%	Waste — recession & election-proof
20	RSG	Republic Services	2.47%	Defensive Services	+3.6%	+0.09%	Waste #2 — recurring revenue
21	MCD	McDonald's	2.47%	Consumer Disc.	−21.5%	−0.53%	Aristocrat — trade-down winner
22	HD	Home Depot	2.47%	Consumer Disc.	−13.7%	−0.34%	Home-improvement dividend grower
23	LOW	Lowe's	1.48%	Consumer Disc.	−21.7%	−0.32%	Housing turnover optionality + buybacks
24	TJX	TJX Companies	1.48%	Consumer Disc.	−8.8%	−0.13%	Off-price wins when wallets tighten
25	SBUX	Starbucks	1.48%	Consumer Disc.	+9.7%	+0.14%	Turnaround + growing dividend
26	YUM	Yum! Brands	1.48%	Consumer Disc.	−2.9%	−0.04%	Franchised, asset-light royalty stream
27	DRI	Darden Restaurants	1.48%	Consumer Disc.	+10.8%	+0.16%	Olive Garden — value dining resilience
28	SGOV	iShares 0-3M Treasury ETF	11.40%	Cash	+2.8%	+0.33%	T-bill buffer for election volatility
29	IAU	iShares Gold	1.48%	Gold	−2.8%	−0.04%	Gold hedge against policy shock
	TOTAL		99.50%
+	PM	Philip Morris Intl	2.00%	Tobacco / Defensive	+28.7%	+0.58%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	CB	Chubb	1.50%	Financials / Insurance	+10.3%	+0.16%	P&C float reinvested at 4.6% — rate tailwind with no credit cycle
+	AFL	Aflac	1.50%	Financials / Insurance	+5.5%	+0.08%	Supplemental insurer, low beta, decades of dividend growth
+	CME	CME Group	1.50%	Financials / Exchange	+6.2%	+0.09%	Earns more when volatility rises — and interest on margin balances
+	CVX	Chevron	2.50%	Energy / Dividend	+43.0%	+1.08%	NEW Aug 9 — record $14.5B quarter, dividend covered ~2x. The dividend book’s missing energy sleeve (WSJ, Aug 3–7 2026)
+	WMB	Williams Companies	2.00%	Energy / Midstream	+23.5%	+0.47%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. NEW Aug 9 — fee-based pipeline tolls, covered distribution, indifferent to pump-price politics (WSJ, Aug 7 2026)
+	DG	Dollar General	1.00%	Consumer / Defensive	−2.3%	−0.02%	NEW Aug 28 — the value-shopper defensive: Q2 sales +5.2% to $11.29B, profit $550.3M vs $411.4M; dividend covered with room to spare (WSJ, Aug 28 2026)
+	GILD	Gilead Sciences	1.00%	Healthcare	+25.4%	+0.26%	NEW Sep 1 — HIV-franchise cash flow, dividend grower; healthcare is the defensive that is actually being paid (+20% YTD)
+	CHD	Church & Dwight	0.75%	Staples	+18.1%	+0.14%	NEW Sep 1 — Arm & Hammer household staples, 30 years of raises
+	SYY	Sysco	0.75%	Staples	+9.1%	+0.07%	NEW Sep 1 — food distribution aristocrat; volume holds when menus shrink
+	ADM	Archer-Daniels-Midland	0.75%	Staples	+41.8%	+0.32%	NEW Sep 1 — ag staple, dividend king; the food side of the inflation trade
+	PGR	Progressive	1.00%	Financials / Insurance	+1.7%	+0.02%	NEW Sep 1 — auto insurer with pricing power in an inflation tape; sits with CB / AFL
+	MSFT	Microsoft	1.00%	Quality Tech / Dividend	+11.3%	+0.11%	NEW Sep 1 — dividend-paying quality-tech sleeve: the earnings engine the book lacked, sized so it cannot lead a selloff
+	AAPL	Apple	1.00%	Quality Tech / Dividend	+24.2%	+0.24%	NEW Sep 1 — quality-tech sleeve: buyback + dividend compounder
+	EPD	Enterprise Products	0.50%	Energy / Midstream	+17.8%	+0.09%	NEW Sep 15 — energy sleeve doubled: fee-based midstream partnership — issues a K-1, not a 1099
+	OKE	ONEOK	0.50%	Energy / Midstream	+26.8%	+0.13%	NEW Sep 15 — energy sleeve doubled: midstream C-corp (1099)
+	KMI	Kinder Morgan	0.50%	Energy / Midstream	+21.6%	+0.11%	NEW Sep 15 — energy sleeve doubled: natural-gas pipelines, C-corp (1099)
+	ENB	Enbridge	0.50%	Energy / Midstream	+1.4%	+0.01%	NEW Sep 15 — energy sleeve doubled: Canadian pipelines — 15% Canadian withholding on dividends outside retirement accounts
+	UNP	Union Pacific	1.00%	Defense/Industrial	+22.1%	+0.22%	NEW Sep 15 — industrials seat: freight rail
+	HON	Honeywell	1.00%	Defense/Industrial	+2.9%	+0.03%	NEW Sep 15 — industrials seat: diversified industrial
+	LMT	Lockheed Martin	1.00%	Defense/Industrial	+7.3%	+0.07%	NEW Sep 15 — industrials seat: defense prime
+	GD	General Dynamics	1.00%	Defense/Industrial	+0.2%	+0.00%	NEW Sep 15 — industrials seat: defense prime
+	PNC	PNC Financial Services	1.00%	Financials / Bank	+7.5%	+0.08%	NEW Sep 16 — regional bank paid before Nov 3 (ex-date ~Oct 25); 3.5% yield, 22% vol
+	USB	U.S. Bancorp	1.00%	Financials / Bank	+10.0%	+0.10%	NEW Sep 16 — bank paid before Nov 3 (ex-date ~Sep 30); 3.3% yield, 23% vol

Capital Wealth Midterm Election Dividend · $500K · Defensive Income

The $500K tier of the midterm-election book (Nov 2026), widened July 2026 to 54 positions and Sep 15 2026 to 65 positions: the full defensive-income core plus dividend-paying AI mega-caps (MSFT, AAPL, AVGO, GOOGL, META, TXN), financials, energy aristocrats, defense rails and AI-infrastructure income (DLR, CEG). No single name over 2.5%. Portal-synced via slug midterm_dividend_500k. Performance (baked, Sep 16 close): 1-yr +12.3% · annualized since Sep 2021 (5.0 yrs) +11.5% · 2022 calendar year +3.0% vs S&P 500 −18.2% · max drawdown −11.3% vs S&P 500 −24.5% over the same window · beta 0.42. Sep 16 2026 — repositioned for low volatility and income into Nov 3, the afternoon the Fed raised to 3.75–4.00%: T-bills raised to 12.7% with the money from the exits — the reserve for the letter’s buys at −8%, −12% and on Nov 3, in thirds; the Sep 15 producer seats out (COP, EOG, DVN, FANG) — not chasing oil; the high-volatility names that pay nothing before Nov 3 out (CEG, GPC, TGT, AVGO, META, TXN); PFE trimmed per the Aug 13 decision; PNC and USB added (both pay before Nov 3); gold halved; every other seat unchanged. Approx. blended dividend yield ≈ 2.7% (holdings-weighted trailing 12-month yield, Yahoo Finance, computed 2026-09-16 by scripts/build-dividend-yields.js; covers 100% of book weight). Sep 15 2026: energy sleeve doubled from 4.0% to 8.0% — COP, EOG, DVN, FANG, EPD, OKE, KMI, ENB added at 0.5% each beside CVX, XOM and WMB, with Brent near $107 — and GD added at 1% beside UNP, HON and LMT, funded pro rata from staples and utilities (28.4% → 23.4% of the book).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	PG	Procter & Gamble	2.10%	Staples	+7.9%	+0.17%	Staples anchor — election-proof demand
2	KO	Coca-Cola	2.05%	Staples	+28.4%	+0.58%	Dividend king, global staple
3	PEP	PepsiCo	2.05%	Staples	−9.6%	−0.20%	Snacks + beverages, low beta
4	CL	Colgate-Palmolive	1.64%	Staples	+13.7%	+0.23%	Dividend king — 60+ yrs of raises
5	KMB	Kimberly-Clark	1.64%	Staples	+0.5%	+0.01%	Aristocrat — tissue & diapers staple
6	MDLZ	Mondelez	1.23%	Staples	+15.2%	+0.19%	Global snacking; 2027 cocoa-reset earnings recovery
7	CHD	Church & Dwight	1.23%	Staples	+18.1%	+0.22%	Value staples brands, steady grower
8	SYY	Sysco	1.23%	Staples	+9.1%	+0.11%	Dividend king — food distribution
9	JNJ	Johnson & Johnson	2.49%	Health	+28.4%	+0.71%	Defensive healthcare compounder — raised 2026 outlook
10	ABBV	AbbVie	2.49%	Pharma	+23.9%	+0.60%	High-yield pharma — Skyrizi/Rinvoq ramp
11	MRK	Merck	2.49%	Pharma	+41.2%	+1.03%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda cash flow, defensive pharma
12	AMGN	Amgen	1.99%	Pharma	+29.3%	+0.59%	Biotech dividend grower — no cliff to 2036
13	SO	Southern Company	2.05%	Utilities	+1.3%	+0.03%	Regulated utility + data-center load
14	DUK	Duke Energy	2.05%	Utilities	+2.1%	+0.04%	Regulated utility income
15	AEP	American Electric Power	2.05%	Utilities	+8.9%	+0.18%	63 GW contracted load — AI power backbone
16	ED	Consolidated Edison	1.64%	Utilities	+9.5%	+0.16%	Aristocrat — regulated NYC utility
17	XEL	Xcel Energy	1.23%	Utilities	+2.2%	+0.03%	Regulated utility, dividend grower
18	WEC	WEC Energy	1.23%	Utilities	+0.9%	+0.01%	Regulated Midwest utility — Microsoft campus load
19	VZ	Verizon	1.99%	Telecom	+9.1%	+0.18%	High-yield telecom — AI Connect fiber
20	T	AT&T	1.49%	Telecom	−6.5%	−0.10%	High-yield telecom, deleveraged
21	WM	Waste Management	2.49%	Defensive Services	−3.7%	−0.09%	Waste — recession & election-proof
22	RSG	Republic Services	1.99%	Defensive Services	+3.6%	+0.07%	Waste #2 — recurring revenue
23	MCD	McDonald's	2.49%	Consumer Disc.	−21.5%	−0.54%	Aristocrat — trade-down winner
24	HD	Home Depot	2.49%	Consumer Disc.	−13.7%	−0.34%	Home-improvement dividend grower
25	LOW	Lowe's	1.99%	Consumer Disc.	−21.7%	−0.43%	Housing turnover optionality + buybacks
26	TJX	TJX Companies	1.99%	Consumer Disc.	−8.8%	−0.18%	Off-price wins when wallets tighten
27	ROST	Ross Stores	1.49%	Consumer Disc.	+24.2%	+0.36%	Off-price value — trade-down tailwind
28	SBUX	Starbucks	1.49%	Consumer Disc.	+9.7%	+0.15%	Turnaround + growing dividend
29	YUM	Yum! Brands	1.99%	Consumer Disc.	−2.9%	−0.06%	Franchised royalty stream — AI drive-thru leader
30	DRI	Darden Restaurants	1.99%	Consumer Disc.	+10.8%	+0.22%	Casual dining — GLP-1 net winner
31	MSFT	Microsoft	1.99%	AI Dividend	+11.3%	+0.23%	Big-boy core — 20 yrs of dividend growth
32	AAPL	Apple	1.49%	AI Dividend	+24.2%	+0.36%	Big-boy core — buybacks + rising dividend
33	GOOGL	Alphabet	1.49%	AI Dividend	+12.6%	+0.19%	AI leader — initiated dividend 2024
34	JPM	JPMorgan Chase	1.99%	Financials	+5.3%	+0.11%	Fortress bank — reliable payout growth
35	BLK	BlackRock	1.49%	Financials	+2.8%	+0.04%	Asset-management toll road
36	CB	Chubb	1.49%	Financials	+10.3%	+0.15%	P&C pricing power, dividend aristocrat
37	CME	CME Group	0.99%	Financials	+6.2%	+0.06%	Earns more when volatility spikes
38	AFL	Aflac	0.99%	Financials	+5.5%	+0.05%	Dividend aristocrat insurer
39	CVX	Chevron	1.49%	Energy	+43.0%	+0.64%	Aristocrat — inflation & shock hedge
40	XOM	Exxon Mobil	1.49%	Energy	+43.2%	+0.65%	Aristocrat — energy-security tailwind
41	WMB	Williams Companies	0.99%	Energy	+23.5%	+0.23%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas pipelines feeding data-center power
42	LMT	Lockheed Martin	1.49%	Defense/Industrial	+7.3%	+0.11%	Defense budget — most election-proof line item
43	HON	Honeywell	0.99%	Defense/Industrial	+2.9%	+0.03%	Diversified industrial dividend grower
44	UNP	Union Pacific	0.99%	Defense/Industrial	+22.1%	+0.22%	Rail duopoly — pricing power income
45	DLR	Digital Realty	0.99%	AI Infrastructure	+17.9%	+0.18%	Data-center REIT — landlord of the AI buildout
46	SGOV	iShares 0-3M Treasury ETF	12.66%	Cash	+2.8%	+0.36%	T-bill buffer for election volatility
47	IAU	iShares Gold	1.25%	Gold	−2.8%	−0.04%	Gold hedge against policy shock
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.99%	Tobacco / Defensive	+28.7%	+0.57%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.49%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	EPD	Enterprise Products	0.50%	Energy	+17.8%	+0.09%	NEW Sep 15 — energy sleeve doubled: fee-based midstream partnership — issues a K-1, not a 1099
+	OKE	ONEOK	0.50%	Energy	+26.8%	+0.13%	NEW Sep 15 — energy sleeve doubled: midstream C-corp (1099)
+	KMI	Kinder Morgan	0.50%	Energy	+21.6%	+0.11%	NEW Sep 15 — energy sleeve doubled: natural-gas pipelines, C-corp (1099)
+	ENB	Enbridge	0.50%	Energy	+1.4%	+0.01%	NEW Sep 15 — energy sleeve doubled: Canadian pipelines — 15% Canadian withholding on dividends outside retirement accounts
+	GD	General Dynamics	1.00%	Defense/Industrial	+0.2%	+0.00%	NEW Sep 15 — industrials seat: defense prime
+	PNC	PNC Financial Services	1.00%	Financials / Bank	+7.5%	+0.08%	NEW Sep 16 — regional bank paid before Nov 3 (ex-date ~Oct 25); 3.5% yield, 22% vol
+	USB	U.S. Bancorp	1.00%	Financials / Bank	+10.0%	+0.10%	NEW Sep 16 — bank paid before Nov 3 (ex-date ~Sep 30); 3.3% yield, 23% vol

Capital Wealth Midterm Election Dividend · $1M · Defensive Income

The $1M tier of the midterm-election book (Nov 2026), added Sep 15 2026: the $500K set carried up — its dated adds keep their seats, every other inherited row is scaled to 81% of its $500K weight (rounding residue on the largest row), the six regulated utilities then share one extra 1% seat — plus a 13-name breadth layer (LLY out Sep 16) (GIS, ADM, PGR, GILD, DG carried up from the $250K tier; MO, O, VICI, ALL, RTX, NOC, WMT, COST, LLY) and a larger ballast, now SGOV 16% and IAU 1.50%. No fund overlay: a covered-call sleeve would cap the post-vote rally the discretionary names are held for. 69 seats; the smallest is 0.50%, $5,000 at $1M; no single stock over 2.1%. Portal-synced via slug midterm_dividend_1m. Performance (baked, Sep 16 close): 1-yr +11.7% · annualized since Sep 2021 (5.0 yrs) +11.4% · 2022 calendar year +4.5% vs S&P 500 −18.2% · max drawdown −10.5% vs S&P 500 −24.5% over the same window · beta 0.39. Sep 16 2026 — repositioned for low volatility and income into Nov 3, the afternoon the Fed raised to 3.75–4.00%: T-bills raised to 16.0% with the money from the exits — the reserve for the letter’s buys at −8%, −12% and on Nov 3, in thirds; the Sep 15 producer seats out (COP, EOG, DVN, FANG) — not chasing oil; the high-volatility names that pay nothing before Nov 3 out (CEG, LLY, GPC, TGT, AVGO, META, TXN); PFE trimmed per the Aug 13 decision; PNC and USB added (both pay before Nov 3); gold halved; every other seat unchanged. Approx. blended dividend yield ≈ 2.8% (holdings-weighted trailing 12-month yield, Yahoo Finance, computed 2026-09-16 by scripts/build-dividend-yields.js; covers 100% of book weight).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	PG	Procter & Gamble	1.70%	Staples	+7.9%	+0.13%	Staples anchor — election-proof demand
2	KO	Coca-Cola	1.66%	Staples	+28.4%	+0.47%	Dividend king, global staple
3	PEP	PepsiCo	1.66%	Staples	−9.6%	−0.16%	Snacks + beverages, low beta
4	CL	Colgate-Palmolive	1.32%	Staples	+13.7%	+0.18%	Dividend king — 60+ yrs of raises
5	KMB	Kimberly-Clark	1.32%	Staples	+0.5%	+0.01%	Aristocrat — tissue & diapers staple
6	MDLZ	Mondelez	0.99%	Staples	+15.2%	+0.15%	Global snacking; 2027 cocoa-reset earnings recovery
7	CHD	Church & Dwight	0.99%	Staples	+18.1%	+0.18%	Value staples brands, steady grower
8	SYY	Sysco	0.99%	Staples	+9.1%	+0.09%	Dividend king — food distribution
9	JNJ	Johnson & Johnson	2.00%	Health	+28.4%	+0.57%	Defensive healthcare compounder — raised 2026 outlook
10	ABBV	AbbVie	2.01%	Pharma	+23.9%	+0.48%	High-yield pharma — Skyrizi/Rinvoq ramp
11	MRK	Merck	2.01%	Pharma	+41.2%	+0.83%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Keytruda cash flow, defensive pharma
12	AMGN	Amgen	1.61%	Pharma	+29.3%	+0.47%	Biotech dividend grower — no cliff to 2036
13	SO	Southern Company	1.86%	Utilities	+1.3%	+0.02%	Regulated utility + data-center load
14	DUK	Duke Energy	1.86%	Utilities	+2.1%	+0.04%	Regulated utility income
15	AEP	American Electric Power	1.86%	Utilities	+8.9%	+0.17%	63 GW contracted load — AI power backbone
16	ED	Consolidated Edison	1.48%	Utilities	+9.5%	+0.14%	Aristocrat — regulated NYC utility
17	XEL	Xcel Energy	1.11%	Utilities	+2.2%	+0.02%	Regulated utility, dividend grower
18	WEC	WEC Energy	1.11%	Utilities	+0.9%	+0.01%	Regulated Midwest utility — Microsoft campus load
19	VZ	Verizon	1.61%	Telecom	+9.1%	+0.15%	High-yield telecom — AI Connect fiber
20	T	AT&T	1.20%	Telecom	−6.5%	−0.08%	High-yield telecom, deleveraged
21	WM	Waste Management	2.01%	Defensive Services	−3.7%	−0.08%	Waste — recession & election-proof
22	RSG	Republic Services	1.61%	Defensive Services	+3.6%	+0.06%	Waste #2 — recurring revenue
23	MCD	McDonald's	2.01%	Consumer Disc.	−21.5%	−0.43%	Aristocrat — trade-down winner
24	HD	Home Depot	2.01%	Consumer Disc.	−13.7%	−0.28%	Home-improvement dividend grower
25	LOW	Lowe's	1.61%	Consumer Disc.	−21.7%	−0.35%	Housing turnover optionality + buybacks
26	TJX	TJX Companies	1.61%	Consumer Disc.	−8.8%	−0.14%	Off-price wins when wallets tighten
27	ROST	Ross Stores	1.20%	Consumer Disc.	+24.2%	+0.29%	Off-price value — trade-down tailwind
28	SBUX	Starbucks	1.20%	Consumer Disc.	+9.7%	+0.12%	Turnaround + growing dividend
29	YUM	Yum! Brands	1.61%	Consumer Disc.	−2.9%	−0.05%	Franchised royalty stream — AI drive-thru leader
30	DRI	Darden Restaurants	1.61%	Consumer Disc.	+10.8%	+0.18%	Casual dining — GLP-1 net winner
31	MSFT	Microsoft	1.61%	AI Dividend	+11.3%	+0.18%	Big-boy core — 20 yrs of dividend growth
32	AAPL	Apple	1.20%	AI Dividend	+24.2%	+0.29%	Big-boy core — buybacks + rising dividend
33	GOOGL	Alphabet	1.20%	AI Dividend	+12.6%	+0.15%	AI leader — initiated dividend 2024
34	JPM	JPMorgan Chase	1.61%	Financials	+5.3%	+0.09%	Fortress bank — reliable payout growth
35	BLK	BlackRock	1.20%	Financials	+2.8%	+0.03%	Asset-management toll road
36	CB	Chubb	1.20%	Financials	+10.3%	+0.12%	P&C pricing power, dividend aristocrat
37	CME	CME Group	0.80%	Financials	+6.2%	+0.05%	Earns more when volatility spikes
38	AFL	Aflac	0.80%	Financials	+5.5%	+0.04%	Dividend aristocrat insurer
39	CVX	Chevron	1.20%	Energy	+43.0%	+0.52%	Aristocrat — inflation & shock hedge
40	XOM	Exxon Mobil	1.20%	Energy	+43.2%	+0.52%	Aristocrat — energy-security tailwind
41	WMB	Williams Companies	0.80%	Energy	+23.5%	+0.19%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas pipelines feeding data-center power
42	LMT	Lockheed Martin	1.20%	Defense/Industrial	+7.3%	+0.09%	Defense budget — most election-proof line item
43	HON	Honeywell	0.80%	Defense/Industrial	+2.9%	+0.02%	Diversified industrial dividend grower
44	UNP	Union Pacific	0.80%	Defense/Industrial	+22.1%	+0.18%	Rail duopoly — pricing power income
45	DLR	Digital Realty	0.80%	AI Infrastructure	+17.9%	+0.14%	Data-center REIT — landlord of the AI buildout
46	SGOV	iShares 0-3M Treasury ETF	16.02%	Cash	+2.8%	+0.46%	T-bill buffer for election volatility
47	IAU	iShares Gold	1.50%	Gold	−2.8%	−0.04%	Gold hedge against policy shock
48	PM	Philip Morris Intl	1.99%	Tobacco / Defensive	+28.7%	+0.57%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
49	BTI	British American Tobacco	1.49%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
50	EPD	Enterprise Products	0.50%	Energy	+17.8%	+0.09%	NEW Sep 15 — energy sleeve doubled: fee-based midstream partnership — issues a K-1, not a 1099
51	OKE	ONEOK	0.50%	Energy	+26.8%	+0.13%	NEW Sep 15 — energy sleeve doubled: midstream C-corp (1099)
52	KMI	Kinder Morgan	0.50%	Energy	+21.6%	+0.11%	NEW Sep 15 — energy sleeve doubled: natural-gas pipelines, C-corp (1099)
53	ENB	Enbridge	0.50%	Energy	+1.4%	+0.01%	NEW Sep 15 — energy sleeve doubled: Canadian pipelines — 15% Canadian withholding on dividends outside retirement accounts
54	GD	General Dynamics	1.00%	Defense/Industrial	+0.2%	+0.00%	NEW Sep 15 — industrials seat: defense prime
55	GIS	General Mills	0.75%	Staples	−27.2%	−0.20%	NEW Sep 15 — $1M breadth layer: the $250K tier’s dividend-king staple, carried up
56	ADM	Archer-Daniels-Midland	0.75%	Staples	+41.8%	+0.32%	NEW Sep 15 — $1M breadth layer: the $250K tier’s ag-processing staple, carried up
57	PGR	Progressive	0.75%	Financials	+1.7%	+0.01%	NEW Sep 15 — $1M breadth layer: the $250K tier’s auto insurer, carried up
58	GILD	Gilead Sciences	1.00%	Healthcare	+25.4%	+0.26%	NEW Sep 15 — $1M breadth layer: the $250K tier’s HIV-franchise payer, carried up
59	DG	Dollar General	0.75%	Consumer / Defensive	−2.3%	−0.02%	NEW Sep 15 — $1M breadth layer: the $250K tier’s value-shopper defensive, carried up
60	MO	Altria Group	1.00%	Tobacco / Defensive	+30.3%	+0.30%	NEW Sep 15 — $1M breadth layer: third tobacco seat beside PM and BTI; trailing yield 6.1% (Yahoo, Sep 15)
61	O	Realty Income	1.00%	REIT	−0.0%	−0.00%	NEW Sep 15 — $1M breadth layer: monthly-pay net-lease REIT; trailing yield 5.5% (Yahoo, Sep 15); distributions are mostly ordinary income
62	VICI	VICI Properties	0.75%	REIT	−14.3%	−0.11%	NEW Sep 15 — $1M breadth layer: casino net-lease REIT; trailing yield 7.2% (Yahoo, Sep 15); distributions are mostly ordinary income
63	ALL	Allstate	0.75%	Financials	+11.8%	+0.09%	NEW Sep 15 — $1M breadth layer: third P&C seat beside CB and PGR
64	RTX	RTX Corp	0.75%	Defense/Industrial	+2.5%	+0.02%	NEW Sep 15 — $1M breadth layer: defense and aerospace beside LMT and GD
65	NOC	Northrop Grumman	0.75%	Defense/Industrial	−14.7%	−0.11%	NEW Sep 15 — $1M breadth layer: defense prime beside LMT and GD
66	WMT	Walmart	1.00%	Staples	+0.6%	+0.01%	NEW Sep 15 — $1M breadth layer: the largest US grocer; defensive retail
67	COST	Costco	0.75%	Staples	+10.3%	+0.08%	NEW Sep 15 — $1M breadth layer: membership retail; defensive
	TOTAL		99.50%
+	PNC	PNC Financial Services	0.75%	Financials / Bank	+7.5%	+0.06%	NEW Sep 16 — regional bank paid before Nov 3 (ex-date ~Oct 25); 3.5% yield, 22% vol
+	USB	U.S. Bancorp	0.75%	Financials / Bank	+10.0%	+0.08%	NEW Sep 16 — bank paid before Nov 3 (ex-date ~Sep 30); 3.3% yield, 23% vol

Capital Wealth AI Memory · $50K · Thematic

The memory supercycle in a tight $50K book — DRAM/HBM/NAND makers (MU/WDC/STX), the AI compute pulling demand, storage & servers, and fab equipment. Cyclical; sized as a thematic satellite. Portal-synced via slug aimemory_50k. Performance (current weights, Oct 9 close): YTD +120.6% · 1-yr +138.2% · 5-yr annualized +57.6% · 2022 stress −31.1% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	MU	Micron Technology	12.00%	Memory	+260.7%	+31.45%	DRAM/HBM + NAND leader
2	WDC	Western Digital	9.00%	Memory	+130.9%	+11.84%	NAND + HDD storage
3	STX	Seagate Technology	9.00%	Memory	+185.3%	+16.76%	HDD mass-capacity for AI data
4	NVDA	NVIDIA	8.00%	AI Semis	+23.2%	+1.87%	AI compute — memory demand engine
5	AVGO	Broadcom	7.00%	AI Semis	+5.0%	+0.35%	Custom AI silicon + networking
6	TSM	Taiwan Semiconductor	7.00%	AI Semis	+50.3%	+3.54%	Foundry for every AI/memory chip
7	MRVL	Marvell Technology	6.00%	AI Semis	+224.5%	+13.54%	Custom silicon + storage controllers
8	DELL	Dell Technologies	6.00%	AI Infra	+369.8%	+22.30%	AI servers — memory-heavy boxes
9	SMCI	Super Micro Computer	6.00%	AI Infra	+43.0%	+2.59%	AI server systems
10	NTAP	NetApp	6.00%	Storage	+124.9%	+7.53%	Enterprise storage + AI ONTAP
11	LRCX	Lam Research	5.00%	Semis Equipment	+86.8%	+4.36%	Etch/deposition for 3D NAND
12	AMAT	Applied Materials	5.00%	Semis Equipment	+98.0%	+4.92%	Broad fab equipment
13	KLAC	KLA Corp	4.00%	Semis Equipment	+61.6%	+2.47%	Process control / yield
14	SGOV	iShares 0-3M Treasury ETF	6.00%	Cash	+2.8%	+0.17%	T-bill cash buffer
15	IAU	iShares Gold	3.50%	Gold	−2.8%	−0.10%	Gold hedge
	TOTAL		99.50%

Capital Wealth Quantum · $50K · Speculative

A $50K quantum-computing book — speculative pure-plays sized small for asymmetry, paired with big-cap quantum optionality (IBM/Google/NVIDIA/Honeywell) and a heavy QQQM/gold/cash ballast. A 2030 optionality sleeve, not a core. Portal-synced via slug quantum_50k. Performance (current weights, Oct 9 close): YTD +8.8% · 1-yr −8.0% · 5-yr annualized +39.5% · 2022 stress −47.1% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	IONQ	IonQ	11.00%	Quantum Computing	−11.1%	−1.23%	Trapped-ion leader, enterprise deals
2	RGTI	Rigetti Computing	7.00%	Quantum Computing	−36.7%	−2.58%	Superconducting gate-model
3	QBTS	D-Wave Quantum	6.00%	Quantum Computing	−44.3%	−2.67%	Annealing + gate quantum
4	QUBT	Quantum Computing Inc	5.00%	Quantum Computing	−27.5%	−1.38%	Photonic quantum + thin films
5	ARQQ	Arqit Quantum	4.00%	Quantum Computing	−21.3%	−0.85%	Quantum-safe encryption
6	QMCO	Quantum Corp	3.00%	Quantum Computing	+371.8%	+11.21%	Quantum storage/compute play
7	IBM	IBM	8.00%	Quantum Optionality	−21.8%	−1.75%	Quantum roadmap leader (big-cap)
8	GOOGL	Alphabet	7.00%	Quantum Optionality	+12.6%	+0.88%	Willow chip — quantum optionality
9	NVDA	NVIDIA	7.00%	Quantum Optionality	+23.2%	+1.63%	CUDA-Q quantum-classical bridge
10	MSFT	Microsoft	6.00%	Quantum Optionality	+11.3%	+0.68%	Azure Quantum + topological
11	HON	Honeywell	6.00%	Quantum Optionality	+2.9%	+0.17%	Quantinuum stake
12	QQQM	Invesco Nasdaq 100 ETF	14.00%	Tech ETF	+22.8%	+3.20%	Nasdaq-100 core ballast
13	IAU	iShares Gold	5.00%	Gold	−2.8%	−0.14%	Gold hedge
14	SGOV	iShares 0-3M Treasury ETF	10.50%	Cash	+2.8%	+0.30%	T-bill cash buffer
	TOTAL		99.50%

Capital Wealth Power · $25K · Sector

The electricity side of the AI build-out, sized for a $25K–$30K account: generation (nuclear, merchant, regulated), the equipment and crews that connect it, the uranium and copper underneath it, over a gold and T-bill ballast. Fourteen seats — the smallest is 5%, about $1,250 at $25K and $1,500 at $30K, so every position is large enough to trim. Chips get the headlines; the data hall does not run without the substation. A sector book: pairs with a core book, does not replace it. Portal-synced via slug power_25k. Performance (baked, Sep 1 2026 close): YTD +17.3% vs S&P 500 +12.3% · 1-yr +27.5% vs +19.4% · since Mar 27 2024 +129.7% (+40.8% annualized) · worst drawdown −29.1% (Jan 23 → Apr 4 2025, the tariff selloff) · beta 1.23. The window is 2.4 years because GE Vernova only began trading in March 2024 — there is no 2022 in this number. Approx. blended dividend yield ≈ 1.2% (trailing 12-month, Yahoo, computed 2026-09-02 by scripts/build-dividend-yields.js).

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	GEV	GE Vernova	10.00%	Power Equipment	+54.0%	+5.43%	Gas turbines and grid gear with a multi-year backlog; the pick-and-shovel of the whole build-out
2	VST	Vistra	9.00%	Generation / Data-Center Power	+0.5%	+0.05%	Merchant generation signing data-center power deals; −15% YTD is the entry, not the verdict
3	CEG	Constellation Energy	9.00%	Nuclear Generation	−15.3%	−1.38%	Largest US nuclear fleet, restarting plants for hyperscalers; −21% YTD on a business that did not shrink
4	ETN	Eaton	8.00%	Electrical Equipment	+36.0%	+2.90%	Switchgear and power distribution inside every new data hall
5	VRT	Vertiv	8.00%	DC Infra / Cooling	+50.0%	+4.02%	Power and cooling for the racks themselves; the fastest-growing seat in the book
6	PWR	Quanta Services	8.00%	Grid Contractor	+67.4%	+5.42%	The crews that string the transmission; wins whether the power is gas, nuclear or sun
7	CCJ	Cameco	7.00%	Uranium	−3.8%	−0.26%	Western uranium supply for a fleet that is being extended, not retired
8	NEE	NextEra Energy	6.00%	Regulated + Renewables	−1.5%	−0.09%	Regulated Florida base plus the largest renewables developer; the dividend seat
9	FCX	Freeport-McMoRan	6.00%	Copper	+46.1%	+2.78%	Every megawatt needs copper; +42% YTD and still supply-constrained
10	BWXT	BWX Technologies	5.00%	Nuclear Components	−16.4%	−0.83%	Reactor components for the Navy today and small modular reactors tomorrow
11	D	Dominion Energy	5.00%	Regulated Utility	+8.5%	+0.43%	Northern Virginia is the densest data-center market on earth and Dominion is its utility
12	SO	Southern Company	5.00%	Regulated Utility	+1.3%	+0.06%	Vogtle 3 and 4 online — the only new US nuclear this decade, now earning
13	IAU	iShares Gold	5.00%	Gold Ballast	−2.8%	−0.14%	Hard-asset ballast against the fiscal side of the theme
14	SGOV	iShares 0-3M Treasury ETF	8.50%	Cash	+2.8%	+0.24%	T-bill reserve; the rebalancing source when a name gaps
	TOTAL		99.50%

Capital Wealth AI & Compute · $100K · Thematic (A)

The full AI stack — accelerators and custom silicon, memory/HBM, the wafer-fab equipment beneath them, networking, data platforms, cybersecurity, and the power that runs the data centers. $100K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug aicompute_100k. Performance (current weights, Oct 9 close): YTD +61.9% · 1-yr +65.4% · 5-yr annualized +47.1% · 2022 stress −36.2% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	NVIDIA	10.27%	AI	+23.2%	+2.40%	AI accelerator standard
2	AVGO	Broadcom	7.70%	AI Semis	+5.0%	+0.39%	Custom AI silicon + networking
3	MSFT	Microsoft	6.42%	Tech/Mag7	+11.3%	+0.73%	Azure + Copilot
4	GOOGL	Alphabet	6.42%	Tech/Mag7	+12.6%	+0.81%	TPUs + Gemini
5	TSM	Taiwan Semiconductor	6.42%	AI Semis	+50.3%	+3.25%	Foundry to the whole stack
6	MU	Micron Technology	6.42%	AI Semis / Memory	+260.7%	+16.82%	HBM/DRAM supercycle
7	ASML	ASML Holding NV	5.14%	International / Developed	+67.2%	+3.47%	EUV monopoly
8	ANET	Arista Networks	5.14%	AI Infra	+65.4%	+3.38%	Datacenter networking
9	PLTR	Palantir	5.14%	Defense	+17.6%	+0.91%	AI software/ontology
10	VRT	Vertiv	5.14%	DC Infra	+50.0%	+2.58%	DC power & cooling
11	ORCL	Oracle	4.49%	AI/Data	−26.5%	−1.19%	OCI capacity
12	AMAT	Applied Materials	4.49%	Semi Equip	+98.0%	+4.42%	Broadest WFE
13	MRVL	Marvell Technology	3.85%	AI Semis	+224.5%	+8.69%	Custom HBM/connectivity
14	LRCX	Lam Research	3.85%	Semi Equip	+86.8%	+3.36%	Etch/dep for memory
15	CRWD	CrowdStrike	3.85%	Cyber	+134.7%	+5.21%	Cyber platform
16	PANW	Palo Alto Networks	3.85%	Cyber	+127.4%	+4.93%	Zero-trust platform
17	AMZN	Amazon	3.85%	Tech/Mag7	+13.7%	+0.53%	AWS + Trainium
18	META	Meta	3.85%	Tech/Mag7	+9.2%	+0.35%	AI capex + ads
19	KLAC	KLA Corp	3.21%	Semi Equip	+61.6%	+1.99%	Process control
	TOTAL		99.50%

Capital Wealth AI & Compute · $250K · Thematic (A)

The full AI stack — accelerators and custom silicon, memory/HBM, the wafer-fab equipment beneath them, networking, data platforms, cybersecurity, and the power that runs the data centers. $250K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug aicompute_250k. Performance (current weights, Oct 9 close): YTD +62.4% · 1-yr +64.4% · annualized since inception (2.5 yrs) +61.5%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	NVIDIA	8.70%	AI	+23.2%	+2.03%	AI accelerator standard
2	AVGO	Broadcom	6.52%	AI Semis	+5.0%	+0.33%	Custom AI silicon + networking
3	MSFT	Microsoft	5.44%	Tech/Mag7	+11.3%	+0.62%	Azure + Copilot
4	GOOGL	Alphabet	5.44%	Tech/Mag7	+12.6%	+0.69%	TPUs + Gemini
5	TSM	Taiwan Semiconductor	5.44%	AI Semis	+50.3%	+2.75%	Foundry to the whole stack
6	MU	Micron Technology	5.44%	AI Semis / Memory	+260.7%	+14.26%	HBM/DRAM supercycle
7	ASML	ASML Holding NV	4.35%	International / Developed	+67.2%	+2.94%	EUV monopoly
8	ANET	Arista Networks	4.35%	AI Infra	+65.4%	+2.86%	Datacenter networking
9	PLTR	Palantir	4.35%	Defense	+17.6%	+0.77%	AI software/ontology
10	VRT	Vertiv	4.35%	DC Infra	+50.0%	+2.18%	DC power & cooling
11	ORCL	Oracle	3.81%	AI/Data	−26.5%	−1.01%	OCI capacity
12	AMAT	Applied Materials	3.81%	Semi Equip	+98.0%	+3.75%	Broadest WFE
13	MRVL	Marvell Technology	3.26%	AI Semis	+224.5%	+7.35%	Custom HBM/connectivity
14	LRCX	Lam Research	3.26%	Semi Equip	+86.8%	+2.84%	Etch/dep for memory
15	CRWD	CrowdStrike	3.26%	Cyber	+134.7%	+4.41%	Cyber platform
16	PANW	Palo Alto Networks	3.26%	Cyber	+127.4%	+4.17%	Zero-trust platform
17	AMZN	Amazon	3.26%	Tech/Mag7	+13.7%	+0.45%	AWS + Trainium
18	META	Meta	3.26%	Tech/Mag7	+9.2%	+0.30%	AI capex + ads
19	KLAC	KLA Corp	2.72%	Semi Equip	+61.6%	+1.68%	Process control
20	AMKR	Amkor Technology	2.72%	AI Semis	+25.0%	+0.68%	Advanced packaging
21	CEG	Constellation Energy	2.72%	Power / Nuclear	−15.3%	−0.42%	Nuclear for 24/7 load
22	VST	Vistra Energy	2.72%	Power / AI Datacenter	+0.5%	+0.01%	Independent power, PPAs
23	GEV	GE Vernova	2.72%	Power	+54.0%	+1.48%	Grid + gas turbines
24	SNOW	Snowflake	2.17%	Data	+68.2%	+1.49%	Data platform
25	DELL	Dell Technologies	2.17%	AI Hardware	+369.8%	+8.07%	AI servers
	TOTAL		99.50%

Capital Wealth AI & Compute · $500K · Thematic (A)

The full AI stack — accelerators and custom silicon, memory/HBM, the wafer-fab equipment beneath them, networking, data platforms, cybersecurity, and the power that runs the data centers. $500K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug aicompute_500k. Performance (current weights, Oct 9 close): YTD +61.2% · 1-yr +62.0% · annualized since inception (2.5 yrs) +57.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	NVIDIA	7.84%	AI	+23.2%	+1.83%	AI accelerator standard
2	AVGO	Broadcom	5.91%	AI Semis	+5.0%	+0.30%	Custom AI silicon + networking
3	MSFT	Microsoft	4.93%	Tech/Mag7	+11.3%	+0.56%	Azure + Copilot
4	GOOGL	Alphabet	4.93%	Tech/Mag7	+12.6%	+0.62%	TPUs + Gemini
5	TSM	Taiwan Semiconductor	4.93%	AI Semis	+50.3%	+2.49%	Foundry to the whole stack
6	MU	Micron Technology	4.93%	AI Semis / Memory	+260.7%	+12.92%	HBM/DRAM supercycle
7	ASML	ASML Holding NV	3.94%	International / Developed	+67.2%	+2.66%	EUV monopoly
8	ANET	Arista Networks	3.94%	AI Infra	+65.4%	+2.59%	Datacenter networking
9	PLTR	Palantir	3.94%	Defense	+17.6%	+0.70%	AI software/ontology
10	VRT	Vertiv	3.94%	DC Infra	+50.0%	+1.98%	DC power & cooling
11	ORCL	Oracle	3.45%	AI/Data	−26.5%	−0.92%	OCI capacity
12	AMAT	Applied Materials	3.45%	Semi Equip	+98.0%	+3.40%	Broadest WFE
13	MRVL	Marvell Technology	2.96%	AI Semis	+224.5%	+6.68%	Custom HBM/connectivity
14	LRCX	Lam Research	2.96%	Semi Equip	+86.8%	+2.58%	Etch/dep for memory
15	CRWD	CrowdStrike	2.96%	Cyber	+134.7%	+4.01%	Cyber platform
16	PANW	Palo Alto Networks	2.96%	Cyber	+127.4%	+3.79%	Zero-trust platform
17	AMZN	Amazon	2.96%	Tech/Mag7	+13.7%	+0.41%	AWS + Trainium
18	META	Meta	2.96%	Tech/Mag7	+9.2%	+0.27%	AI capex + ads
19	KLAC	KLA Corp	2.46%	Semi Equip	+61.6%	+1.52%	Process control
20	AMKR	Amkor Technology	2.46%	AI Semis	+25.0%	+0.62%	Advanced packaging
21	CEG	Constellation Energy	2.46%	Power / Nuclear	−15.3%	−0.38%	Nuclear for 24/7 load
22	VST	Vistra Energy	2.46%	Power / AI Datacenter	+0.5%	+0.01%	Independent power, PPAs
23	GEV	GE Vernova	2.46%	Power	+54.0%	+1.34%	Grid + gas turbines
24	SNOW	Snowflake	1.97%	Data	+68.2%	+1.35%	Data platform
25	DELL	Dell Technologies	1.97%	AI Hardware	+369.8%	+7.32%	AI servers
26	PWR	Quanta Services	1.97%	DC/Power	+67.4%	+1.33%	Grid construction
27	NXPI	NXP Semiconductors	1.48%	Semis	+6.2%	+0.09%	Edge silicon
28	ADI	Analog Devices	1.48%	Semis	+51.1%	+0.76%	Signal chain
29	CSCO	Cisco	1.48%	AI Net	+56.5%	+0.84%	Networking + security
30	SMCI	Super Micro	1.48%	AI Hardware	+43.0%	+0.64%	AI server systems
31	SGOV	iShares 0-3M Treasury ETF	1.48%	Fixed Income / Cash	+2.8%	+0.04%	Cash sleeve
	TOTAL		99.50%

Capital Wealth Hard Assets · Theme 1 Concentrated Core · $100K (B)

Theme 1 · Fiscal-Dominance Inflation — Concentrated Real-Asset Core. The pure energy / defense / gold / power expression of the Theme 1 regime, without the banks, AI, TIPS, and international sleeves that diversify the flagship. Real-economy leverage — integrated energy and midstream, the $1.5T defense build, gold and critical-materials miners, and the power/nuclear names. Built for inflation, geopolitics, and supply scarcity. $100K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug hardassets_100k. Performance (current weights, Oct 9 close): YTD +25.0% · 1-yr +26.8% · annualized since inception (2.5 yrs) +27.4%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	8.12%	Energy	+43.2%	+3.53%	Integrated major
2	CVX	Chevron	6.78%	Energy	+43.0%	+2.93%	Integrated major
3	LMT	Lockheed Martin	7.00%	Defense	+7.3%	+0.51%	Defense prime
4	RTX	RTX Corp	7.00%	Defense	+2.5%	+0.18%	Defense + aero aftermarket
5	COP	ConocoPhillips	5.42%	Energy	+46.4%	+2.53%	Low-cost E&P
6	GEV	GE Vernova	5.60%	Power	+54.0%	+3.04%	Grid + gas turbines
7	NOC	Northrop Grumman	5.60%	Defense	−14.7%	−0.83%	Strategic deterrent
8	GD	General Dynamics	4.90%	Defense	+0.2%	+0.01%	Combat systems
9	EOG	EOG Resources	4.74%	Energy	+44.6%	+2.13%	Premium E&P
10	IAU	iShares Gold	4.90%	Gold	−2.8%	−0.14%	Gold bullion
11	LNG	Cheniere Energy	4.74%	Energy	+44.1%	+2.10%	US LNG export
12	NEM	Newmont	4.20%	Materials / Gold	+18.8%	+0.79%	Gold miner leverage
13	FANG	Diamondback	4.07%	Energy	+30.0%	+1.23%	Permian pure-play
14	CEG	Constellation Energy	4.20%	Power / Nuclear	−15.3%	−0.64%	Nuclear fleet
15	LHX	L3Harris	4.20%	Defense	−18.3%	−0.77%	C4ISR/defense tech
16	SLB	Schlumberger	4.07%	Energy	+29.6%	+1.21%	Oilfield services
17	EPD	Enterprise Products	4.07%	Energy	+17.8%	+0.73%	Midstream toll
18	VST	Vistra Energy	3.50%	Power / AI Datacenter	+0.5%	+0.02%	Independent power
19	WMB	Williams Companies	3.39%	Energy	+23.5%	+0.80%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas backbone
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL		99.50%

Capital Wealth Hard Assets · Theme 1 Concentrated Core · $250K (B)

Theme 1 · Fiscal-Dominance Inflation — Concentrated Real-Asset Core. The pure energy / defense / gold / power expression of the Theme 1 regime, without the banks, AI, TIPS, and international sleeves that diversify the flagship. Real-economy leverage — integrated energy and midstream, the $1.5T defense build, gold and critical-materials miners, and the power/nuclear names. Built for inflation, geopolitics, and supply scarcity. $250K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug hardassets_250k. Performance (current weights, Oct 9 close): YTD +23.5% · 1-yr +25.6% · annualized since inception (2.5 yrs) +29.7%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	6.75%	Energy	+43.2%	+2.93%	Integrated major
2	CVX	Chevron	5.66%	Energy	+43.0%	+2.44%	Integrated major
3	LMT	Lockheed Martin	5.87%	Defense	+7.3%	+0.43%	Defense prime
4	RTX	RTX Corp	5.87%	Defense	+2.5%	+0.15%	Defense + aero aftermarket
5	COP	ConocoPhillips	4.53%	Energy	+46.4%	+2.11%	Low-cost E&P
6	GEV	GE Vernova	4.70%	Power	+54.0%	+2.55%	Grid + gas turbines
7	NOC	Northrop Grumman	4.70%	Defense	−14.7%	−0.69%	Strategic deterrent
8	GD	General Dynamics	4.11%	Defense	+0.2%	+0.01%	Combat systems
9	EOG	EOG Resources	3.96%	Energy	+44.6%	+1.78%	Premium E&P
10	IAU	iShares Gold	4.11%	Gold	−2.8%	−0.12%	Gold bullion
11	LNG	Cheniere Energy	3.96%	Energy	+44.1%	+1.76%	US LNG export
12	NEM	Newmont	3.52%	Materials / Gold	+18.8%	+0.66%	Gold miner leverage
13	FANG	Diamondback	3.40%	Energy	+30.0%	+1.02%	Permian pure-play
14	CEG	Constellation Energy	3.52%	Power / Nuclear	−15.3%	−0.54%	Nuclear fleet
15	LHX	L3Harris	3.52%	Defense	−18.3%	−0.65%	C4ISR/defense tech
16	SLB	Schlumberger	3.40%	Energy	+29.6%	+1.01%	Oilfield services
17	EPD	Enterprise Products	3.40%	Energy	+17.8%	+0.61%	Midstream toll
18	VST	Vistra Energy	2.94%	Power / AI Datacenter	+0.5%	+0.02%	Independent power
19	WMB	Williams Companies	2.84%	Energy	+23.5%	+0.67%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas backbone
20	HII	HII	2.94%	Defense	−21.2%	−0.63%	Naval shipbuilding
21	OXY	Occidental	2.84%	Energy	+48.2%	+1.38%	Permian + carbon
22	CCJ	Cameco	2.94%	Power/Infra	−3.8%	−0.11%	Uranium supply
23	MP	MP Materials	2.34%	Power/Infra	−8.7%	−0.20%	Rare earths
24	WPM	Wheaton PM	2.34%	Gold/Silv	+18.5%	+0.44%	Streaming royalties
25	HWM	Howmet Aerospace	2.34%	Defense	+10.0%	+0.24%	Aero structures
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL		99.50%

Capital Wealth Hard Assets · Theme 1 Concentrated Core · $500K (B)

Theme 1 · Fiscal-Dominance Inflation — Concentrated Real-Asset Core. The pure energy / defense / gold / power expression of the Theme 1 regime, without the banks, AI, TIPS, and international sleeves that diversify the flagship. Real-economy leverage — integrated energy and midstream, the $1.5T defense build, gold and critical-materials miners, and the power/nuclear names. Built for inflation, geopolitics, and supply scarcity. $500K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug hardassets_500k. Performance (current weights, Oct 9 close): YTD +23.6% · 1-yr +25.2% · annualized since inception (2.5 yrs) +30.0%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	6.24%	Energy	+43.2%	+2.71%	Integrated major
2	CVX	Chevron	5.15%	Energy	+43.0%	+2.22%	Integrated major
3	LMT	Lockheed Martin	5.35%	Defense	+7.3%	+0.39%	Defense prime
4	RTX	RTX Corp	5.35%	Defense	+2.5%	+0.13%	Defense + aero aftermarket
5	COP	ConocoPhillips	4.12%	Energy	+46.4%	+1.92%	Low-cost E&P
6	GEV	GE Vernova	4.28%	Power	+54.0%	+2.32%	Grid + gas turbines
7	NOC	Northrop Grumman	4.28%	Defense	−14.7%	−0.63%	Strategic deterrent
8	GD	General Dynamics	3.74%	Defense	+0.2%	+0.01%	Combat systems
9	EOG	EOG Resources	3.60%	Energy	+44.6%	+1.61%	Premium E&P
10	IAU	iShares Gold	3.74%	Gold	−2.8%	−0.11%	Gold bullion
11	LNG	Cheniere Energy	3.60%	Energy	+44.1%	+1.60%	US LNG export
12	NEM	Newmont	3.21%	Materials / Gold	+18.8%	+0.61%	Gold miner leverage
13	FANG	Diamondback	3.09%	Energy	+30.0%	+0.93%	Permian pure-play
14	CEG	Constellation Energy	3.21%	Power / Nuclear	−15.3%	−0.49%	Nuclear fleet
15	LHX	L3Harris	3.21%	Defense	−18.3%	−0.59%	C4ISR/defense tech
16	SLB	Schlumberger	3.09%	Energy	+29.6%	+0.92%	Oilfield services
17	EPD	Enterprise Products	3.09%	Energy	+17.8%	+0.55%	Midstream toll
18	VST	Vistra Energy	2.67%	Power / AI Datacenter	+0.5%	+0.01%	Independent power
19	WMB	Williams Companies	2.57%	Energy	+23.5%	+0.61%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas backbone
20	HII	HII	2.67%	Defense	−21.2%	−0.57%	Naval shipbuilding
21	OXY	Occidental	2.57%	Energy	+48.2%	+1.25%	Permian + carbon
22	CCJ	Cameco	2.67%	Power/Infra	−3.8%	−0.10%	Uranium supply
23	MP	MP Materials	2.14%	Power/Infra	−8.7%	−0.19%	Rare earths
24	WPM	Wheaton PM	2.14%	Gold/Silv	+18.5%	+0.40%	Streaming royalties
25	HWM	Howmet Aerospace	2.14%	Defense	+10.0%	+0.22%	Aero structures
26	KMI	Kinder Morgan	2.06%	Energy	+21.6%	+0.45%	Nat-gas infra
27	URA	Global X Uranium ETF	2.14%	Uranium	−9.0%	−0.19%	Uranium basket
28	PWR	Quanta Services	2.14%	DC/Power	+67.4%	+1.45%	Grid build
29	NEE	NextEra Energy	2.14%	Power	−1.5%	−0.03%	Renewables + utility
30	SGOV	iShares 0-3M Treasury ETF	0.10%	Fixed Income / Cash	+2.8%	+0.00%	Cash sleeve
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL		99.50%

Capital Wealth Global & Emerging · $100K · Thematic (C)

The world ex-US — developed-market quality (Europe, Japan) and emerging-market growth (India, Taiwan, Korea, Brazil) via single-name ADRs and broad regional ETFs, with a small US anchor. $100K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug global_100k. Performance (current weights, Oct 9 close): YTD +18.8% · 1-yr +22.4% · 5-yr annualized +17.0% · 2022 stress −14.5% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	TSM	Taiwan Semiconductor	10.15%	AI Semis	+50.3%	+5.14%	Taiwan foundry — AI core
2	ASML	ASML Holding NV	8.70%	International / Developed	+67.2%	+5.88%	Netherlands — EUV monopoly
3	VEA	Vanguard FTSE Developed Markets ETF	6.03%	Developed ex-US	+13.7%	+0.83%	Developed ex-US broad
4	VWO	Vanguard FTSE Emerging Markets ETF	6.03%	Emerging Markets	+11.5%	+0.70%	Emerging markets broad
5	NVO	Novo Nordisk A/S	6.53%	International / Developed	−20.3%	−1.33%	Denmark — GLP-1 leader
6	SAP	SAP SE	6.53%	International / Developed	−10.0%	−0.66%	Germany — ERP standard
7	IBN	ICICI Bank	5.81%	International / EM	−5.6%	−0.33%	India — banking leader
8	INDA	iShares MSCI India ETF	5.81%	International / EM	−14.8%	−0.87%	India broad
9	TM	Toyota Motor Corp	5.81%	International / Developed	−13.4%	−0.78%	Japan — autos
10	SONY	Sony	5.08%	Consumer Discretionary	−5.8%	−0.30%	Japan — content/sensors
11	EWJ	iShares MSCI Japan ETF	5.08%	International / Developed	+21.9%	+1.12%	Japan broad
12	AZN	AstraZeneca	5.08%	Pharma	−12.5%	−0.64%	UK — oncology
13	EWY	iShares MSCI Korea ETF	5.08%	International / EM	+82.3%	+4.20%	Korea — Samsung proxy
14	EWT	iShares MSCI Taiwan ETF	5.08%	International / EM	+79.9%	+4.08%	Taiwan broad
15	HSBC	HSBC Holdings	4.35%	International / Bank	+22.8%	+1.00%	UK/Asia bank
16	SAN	SAN	4.35%		+16.4%	+0.72%	Spain — Eurozone bank
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.25%	Tobacco / Defensive	+2.4%	+0.03%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	VGK	Vanguard FTSE Europe ETF	1.50%	International / Diversifier	+5.0%	+0.08%	NEW Aug 22 — Stoxx 600 EPS +18% (+7% ex-energy); ~10% tech weight vs ~40% S&P — the honest AI-concentration offset (WSJ Heard, Aug 22)

Capital Wealth Global & Emerging · $250K · Thematic (C)

The world ex-US — developed-market quality (Europe, Japan) and emerging-market growth (India, Taiwan, Korea, Brazil) via single-name ADRs and broad regional ETFs, with a small US anchor. $250K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug global_250k. Performance (current weights, Oct 9 close): YTD +19.2% · 1-yr +21.5% · 5-yr annualized +17.5% · 2022 stress −15.2% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	TSM	Taiwan Semiconductor	8.37%	AI Semis	+50.3%	+4.23%	Taiwan foundry — AI core
2	ASML	ASML Holding NV	7.22%	International / Developed	+67.2%	+4.88%	Netherlands — EUV monopoly
3	VEA	Vanguard FTSE Developed Markets ETF	4.78%	Developed ex-US	+13.7%	+0.66%	Developed ex-US broad
4	VWO	Vanguard FTSE Emerging Markets ETF	4.78%	Emerging Markets	+11.5%	+0.55%	Emerging markets broad
5	NVO	Novo Nordisk A/S	5.41%	International / Developed	−20.3%	−1.10%	Denmark — GLP-1 leader
6	SAP	SAP SE	5.41%	International / Developed	−10.0%	−0.55%	Germany — ERP standard
7	IBN	ICICI Bank	4.81%	International / EM	−5.6%	−0.27%	India — banking leader
8	INDA	iShares MSCI India ETF	4.81%	International / EM	−14.8%	−0.72%	India broad
9	TM	Toyota Motor Corp	4.81%	International / Developed	−13.4%	−0.65%	Japan — autos
10	SONY	Sony	4.21%	Consumer Discretionary	−5.8%	−0.24%	Japan — content/sensors
11	EWJ	iShares MSCI Japan ETF	4.21%	International / Developed	+21.9%	+0.92%	Japan broad
12	AZN	AstraZeneca	4.21%	Pharma	−12.5%	−0.53%	UK — oncology
13	EWY	iShares MSCI Korea ETF	4.21%	International / EM	+82.3%	+3.48%	Korea — Samsung proxy
14	EWT	iShares MSCI Taiwan ETF	4.21%	International / EM	+79.9%	+3.38%	Taiwan broad
15	HSBC	HSBC Holdings	3.61%	International / Bank	+22.8%	+0.83%	UK/Asia bank
16	SAN	SAN	3.61%		+16.4%	+0.60%	Spain — Eurozone bank
17	PBR	Petrobras	3.61%	International / EM	+122.8%	+4.45%	Brazil — energy major
18	EZU	iShares MSCI Eurozone ETF	3.61%	International / Developed	+4.6%	+0.17%	Eurozone broad
19	EFA	iShares MSCI EAFE Developed ex-US	3.61%	International / Developed	+9.4%	+0.34%	EAFE developed
20	CPNG	Coupang Inc	3.00%	International / EM	−32.9%	−0.99%	Korea — e-commerce
21	SHOP	SHOP	3.00%		+6.1%	+0.19%	Canada — commerce
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.25%	Tobacco / Defensive	+2.4%	+0.03%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	VGK	Vanguard FTSE Europe ETF	1.50%	International / Diversifier	+5.0%	+0.08%	NEW Aug 22 — Stoxx 600 EPS +18% (+7% ex-energy); ~10% tech weight vs ~40% S&P — the honest AI-concentration offset (WSJ Heard, Aug 22)

Capital Wealth Global & Emerging · $500K · Thematic (C)

The world ex-US — developed-market quality (Europe, Japan) and emerging-market growth (India, Taiwan, Korea, Brazil) via single-name ADRs and broad regional ETFs, with a small US anchor. $500K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug global_500k. Performance (current weights, Oct 9 close): YTD +21.6% · 1-yr +22.6% · annualized since inception (3.1 yrs) +27.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	TSM	Taiwan Semiconductor	7.55%	AI Semis	+50.3%	+3.82%	Taiwan foundry — AI core
2	ASML	ASML Holding NV	6.49%	International / Developed	+67.2%	+4.38%	Netherlands — EUV monopoly
3	VEA	Vanguard FTSE Developed Markets ETF	4.58%	Developed ex-US	+13.7%	+0.63%	Developed ex-US broad
4	VWO	Vanguard FTSE Emerging Markets ETF	5.41%	Emerging Markets	+11.5%	+0.63%	Emerging markets broad
5	NVO	Novo Nordisk A/S	4.87%	International / Developed	−20.3%	−0.99%	Denmark — GLP-1 leader
6	SAP	SAP SE	4.87%	International / Developed	−10.0%	−0.49%	Germany — ERP standard
7	IBN	ICICI Bank	4.33%	International / EM	−5.6%	−0.25%	India — banking leader
8	INDA	iShares MSCI India ETF	4.33%	International / EM	−14.8%	−0.65%	India broad
9	TM	Toyota Motor Corp	4.33%	International / Developed	−13.4%	−0.58%	Japan — autos
10	SONY	Sony	3.79%	Consumer Discretionary	−5.8%	−0.22%	Japan — content/sensors
11	EWJ	iShares MSCI Japan ETF	3.79%	International / Developed	+21.9%	+0.83%	Japan broad
12	AZN	AstraZeneca	3.79%	Pharma	−12.5%	−0.48%	UK — oncology
13	EWY	iShares MSCI Korea ETF	3.79%	International / EM	+82.3%	+3.14%	Korea — Samsung proxy
14	EWT	iShares MSCI Taiwan ETF	3.79%	International / EM	+79.9%	+3.04%	Taiwan broad
15	HSBC	HSBC Holdings	3.25%	International / Bank	+22.8%	+0.74%	UK/Asia bank
16	SAN	SAN	3.25%		+16.4%	+0.54%	Spain — Eurozone bank
17	PBR	Petrobras	3.25%	International / EM	+122.8%	+4.01%	Brazil — energy major
18	EZU	iShares MSCI Eurozone ETF	3.25%	International / Developed	+4.6%	+0.15%	Eurozone broad
19	EFA	iShares MSCI EAFE Developed ex-US	3.25%	International / Developed	+9.4%	+0.31%	EAFE developed
20	CPNG	Coupang Inc	2.71%	International / EM	−32.9%	−0.90%	Korea — e-commerce
21	SHOP	SHOP	2.71%		+6.1%	+0.17%	Canada — commerce
22	ARM	Arm Holdings	2.71%	AI Semis	+143.6%	+3.91%	UK — AI compute IP
23	VOO	Vanguard S&P 500 ETF	3.25%	Core US Equity	+15.1%	+0.49%	US anchor
24	IAU	iShares Gold	2.16%	Gold	−2.8%	−0.06%	Gold hedge
25	SGOV	iShares 0-3M Treasury ETF	0.00%	Fixed Income / Cash	+2.8%	+0.00%	Cash sleeve
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.25%	Tobacco / Defensive	+28.7%	+0.36%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.25%	Tobacco / Defensive	+2.4%	+0.03%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	VGK	Vanguard FTSE Europe ETF	1.50%	International / Diversifier	+5.0%	+0.08%	NEW Aug 22 — Stoxx 600 EPS +18% (+7% ex-energy); ~10% tech weight vs ~40% S&P — the honest AI-concentration offset (WSJ Heard, Aug 22)

Capital Wealth Income & Quality · $100K · Thematic (D)

Compounding with a paycheck — dividend-growth ETFs, quality financials, staples and healthcare, energy income and midstream, REITs, a covered-call sleeve, and a short-duration bond anchor. $100K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug incomeq_100k. Performance (current weights, Oct 9 close): YTD +17.3% · 1-yr +22.8% · 5-yr annualized +18.3% · 2022 stress +8.7% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend ETF	7.78%	Div Core	+23.4%	+1.83%	Div-growth core
2	JPM	JPMorgan	7.73%	Bank	+5.3%	+0.41%	Money-center bank
3	VYM	Vanguard High Div ETF	6.18%	Div Core	+12.6%	+0.78%	High-div core
4	BRK.B	Berkshire	6.95%	Conglom	+2.6%	+0.18%	Diversified compounder
5	COST	Costco	6.18%	Staples	+10.3%	+0.64%	Staples compounder
6	LLY	Eli Lilly	6.18%	Pharma	+10.3%	+0.64%	Pharma anchor
7	DGRO	iShares Div Growth ETF	5.41%	Div Core	+12.9%	+0.70%	Div-growth core
8	XOM	ExxonMobil	5.41%	Energy	+43.2%	+2.35%	Energy income
9	JNJ	Johnson & Johnson	5.41%	Div Growth	+28.4%	+1.54%	Healthcare staple
10	GS	Goldman Sachs	4.64%	Bank	+3.4%	+0.16%	Trading/advisory
11	MS	Morgan Stanley	4.64%	Bank	+8.8%	+0.41%	Wealth franchise
12	PG	Procter & Gamble	4.64%	Staples	+7.9%	+0.37%	Consumer staple
13	ABBV	AbbVie	4.64%	Quality Single-Stock	+23.9%	+1.11%	Pharma + dividend
14	CVX	Chevron	4.64%	Energy	+43.0%	+2.00%	Energy income
15	KO	Coca-Cola	3.09%	Div Growth	+28.4%	+0.88%	Beverages
16	PEP	PepsiCo	3.09%	Div Growth	−9.6%	−0.30%	Snacks/beverages
17	EPD	Enterprise Products	3.86%	Energy	+17.8%	+0.69%	Midstream yield
+	PM	Philip Morris Intl	3.16%	Div Growth	+28.7%	+0.91%	NEW Jul 11 — dividend grower w/ ZYN smoke-free engine; Siegel 1957–2003: +19.75%/yr vs S&P +10.85%
+	MO	Altria Group	2.37%	Div Growth	+30.3%	+0.72%	NEW Jul 11 — highest-yield S&P staple (~6.7%); pricing power through every cycle
	TOTAL		99.50%
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	USFR	WisdomTree Floating Rate Treasury	2.00%	Income / Rates	+3.0%	+0.06%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Capital Wealth Income & Quality · $250K · Thematic (D)

Compounding with a paycheck — dividend-growth ETFs, quality financials, staples and healthcare, energy income and midstream, REITs, a covered-call sleeve, and a short-duration bond anchor. $250K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug incomeq_250k. Performance (current weights, Oct 9 close): YTD +15.9% · 1-yr +21.4% · 5-yr annualized +17.3% · 2022 stress +9.6% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend ETF	5.72%	Div Core	+23.4%	+1.35%	Div-growth core
2	JPM	JPMorgan	6.54%	Bank	+5.3%	+0.35%	Money-center bank
3	VYM	Vanguard High Div ETF	5.23%	Div Core	+12.6%	+0.66%	High-div core
4	BRK.B	Berkshire	5.88%	Conglom	+2.6%	+0.15%	Diversified compounder
5	COST	Costco	5.23%	Staples	+10.3%	+0.54%	Staples compounder
6	LLY	Eli Lilly	5.23%	Pharma	+10.3%	+0.54%	Pharma anchor
7	DGRO	iShares Div Growth ETF	3.92%	Div Core	+12.9%	+0.51%	Div-growth core
8	XOM	ExxonMobil	4.57%	Energy	+43.2%	+1.98%	Energy income
9	JNJ	Johnson & Johnson	4.57%	Div Growth	+28.4%	+1.30%	Healthcare staple
10	GS	Goldman Sachs	3.92%	Bank	+3.4%	+0.13%	Trading/advisory
11	MS	Morgan Stanley	3.92%	Bank	+8.8%	+0.35%	Wealth franchise
12	PG	Procter & Gamble	3.92%	Staples	+7.9%	+0.31%	Consumer staple
13	ABBV	AbbVie	3.92%	Quality Single-Stock	+23.9%	+0.94%	Pharma + dividend
14	CVX	Chevron	3.92%	Energy	+43.0%	+1.69%	Energy income
15	KO	Coca-Cola	3.27%	Div Growth	+28.4%	+0.93%	Beverages
16	PEP	PepsiCo	3.27%	Div Growth	−9.6%	−0.31%	Snacks/beverages
17	EPD	Enterprise Products	3.27%	Energy	+17.8%	+0.58%	Midstream yield
18	O	Realty Income	3.27%	REIT	−0.0%	−0.00%	Net-lease REIT
19	MRK	Merck & Co	3.27%	Quality Single-Stock	+41.2%	+1.35%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Pharma
20	WMT	Walmart	3.27%	Staples	+0.6%	+0.02%	Defensive retail
21	VICI	VICI Properties	2.61%	REIT	−14.3%	−0.38%	Gaming REIT
22	ET	Energy Transfer	2.61%	Midstream	—	—	Midstream yield
+	PM	Philip Morris Intl	2.67%	Div Growth	+28.7%	+0.77%	NEW Jul 11 — dividend grower w/ ZYN smoke-free engine; Siegel 1957–2003: +19.75%/yr vs S&P +10.85%
+	MO	Altria Group	2.00%	Div Growth	+30.3%	+0.61%	NEW Jul 11 — highest-yield S&P staple (~6.7%); pricing power through every cycle
	TOTAL		99.50%
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	USFR	WisdomTree Floating Rate Treasury	2.00%	Income / Rates	+3.0%	+0.06%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Capital Wealth Income & Quality · $500K · Thematic (D)

Compounding with a paycheck — dividend-growth ETFs, quality financials, staples and healthcare, energy income and midstream, REITs, a covered-call sleeve, and a short-duration bond anchor. $500K tier of the A/B/C/D Thematic Series — concentrated at $100K, broadest at $500K. Portal-synced via slug incomeq_500k. Performance (current weights, Oct 9 close): YTD +14.5% · 1-yr +19.8% · annualized since inception (4.4 yrs) +15.5%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SCHD	Schwab US Dividend ETF	6.25%	Div Core	+23.4%	+1.47%	Div-growth core
2	JPM	JPMorgan	5.73%	Bank	+5.3%	+0.31%	Money-center bank
3	VYM	Vanguard High Div ETF	4.58%	Div Core	+12.6%	+0.58%	High-div core
4	BRK.B	Berkshire	5.16%	Conglom	+2.6%	+0.13%	Diversified compounder
5	COST	Costco	4.58%	Staples	+10.3%	+0.47%	Staples compounder
6	LLY	Eli Lilly	4.58%	Pharma	+10.3%	+0.47%	Pharma anchor
7	DGRO	iShares Div Growth ETF	3.44%	Div Core	+12.9%	+0.45%	Div-growth core
8	XOM	ExxonMobil	4.01%	Energy	+43.2%	+1.74%	Energy income
9	JNJ	Johnson & Johnson	4.01%	Div Growth	+28.4%	+1.14%	Healthcare staple
10	GS	Goldman Sachs	3.44%	Bank	+3.4%	+0.12%	Trading/advisory
11	MS	Morgan Stanley	3.44%	Bank	+8.8%	+0.30%	Wealth franchise
12	PG	Procter & Gamble	3.44%	Staples	+7.9%	+0.27%	Consumer staple
13	ABBV	AbbVie	3.44%	Quality Single-Stock	+23.9%	+0.82%	Pharma + dividend
14	CVX	Chevron	3.44%	Energy	+43.0%	+1.49%	Energy income
15	KO	Coca-Cola	2.87%	Div Growth	+28.4%	+0.82%	Beverages
16	PEP	PepsiCo	2.87%	Div Growth	−9.6%	−0.28%	Snacks/beverages
17	EPD	Enterprise Products	2.87%	Energy	+17.8%	+0.51%	Midstream yield
18	O	Realty Income	2.87%	REIT	−0.0%	−0.00%	Net-lease REIT
19	MRK	Merck & Co	2.87%	Quality Single-Stock	+41.2%	+1.19%	REINFORCED Aug 22 — partner on Moderna’s melanoma-vaccine breakthrough, without the 177% squeeze. Pharma
20	WMT	Walmart	2.87%	Staples	+0.6%	+0.02%	Defensive retail
21	VICI	VICI Properties	2.29%	REIT	−14.3%	−0.33%	Gaming REIT
22	ET	Energy Transfer	2.29%	Midstream	—	—	Midstream yield
23	JEPI	JPMorgan Equity Premium	2.87%	Covered Call	+5.3%	+0.15%	Covered-call income
24	JEPQ	JPMorgan Nasdaq Premium	2.29%	Covered Call	+14.9%	+0.34%	Nasdaq covered-call
25	IAU	iShares Gold	2.29%	Gold	−2.8%	−0.07%	Gold hedge
26	TLT	iShares 20+Y Treasury ETF	2.29%	Long Treasury	−7.4%	−0.17%	Long Treasury
27	SGOV	iShares 0-3M Treasury ETF	0.82%	Fixed Income / Cash	+2.8%	+0.02%	Cash sleeve
+	PM	Philip Morris Intl	2.34%	Div Growth	+28.7%	+0.67%	NEW Jul 11 — dividend grower w/ ZYN smoke-free engine; Siegel 1957–2003: +19.75%/yr vs S&P +10.85%
+	MO	Altria Group	1.76%	Div Growth	+30.3%	+0.54%	NEW Jul 11 — highest-yield S&P staple (~6.7%); pricing power through every cycle
	TOTAL		99.50%
+	BTI	British American Tobacco	1.50%	Tobacco / Defensive	+2.4%	+0.04%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	USFR	WisdomTree Floating Rate Treasury	2.00%	Income / Rates	+3.0%	+0.06%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Capital Wealth Theme 1 · Fiscal-Dominance Inflation · $100K · Cycle Theme

The house base case. Built for a regime where deficits are funded into a hot economy and the long end won’t rally — so we own durable cash flow and real assets, not duration. Diversified across eight sleeves (energy & midstream, gold & miners, defense backlog, pricing-power compounders, banks, AI picks-and-shovels, short-duration TIPS/T-bills ballast, real-economy international) — no sleeve over 15%, every name under the 5% single-stock cap per the house concentration rule. The Hard Assets books (slugs hardassets_100k/250k/500k) are the concentrated real-asset core of this same regime — fewer sleeves, more conviction. Bond signal: 10Y ~4.45% with the curve steepening on term premium, not cuts; PCE 4.1%, the Fed shifting from cuts to hikes. Thesis basis: IN15 real assets · IN09 concentration discipline · IN04 inflation risk. 39 positions. Scenario stress test (illustrative, 1-yr): Inflation +12.2% · AI Capex +11.3% · Soft Landing +9.9% · Stagflation +4.4% — positive in every regime. Portal-synced via slug theme1_inflation. Performance (current weights, Oct 9 close): YTD +28.4% · 1-yr +34.8% · 5-yr annualized +26.2% · 2022 stress +12.9% vs S&P 500 −18.2%.Post-election destination — inflation path. Where the reserve goes instead when the fall decline is driven by a hot inflation print and a hiking Fed rather than ordinary election chop: buy the book built for the cause. Pre-assigned to road S3, “Fiscal Heat Into The Vote” (see the September Letter). Measured May 1 2024 – Sep 4 2026, monthly, against the S&P 500 Total Return: annualized +33.51% · standard deviation 10.49% · Sharpe 2.70 · Sortino 5.58 · maximum drawdown −10.79% · benchmark correlation 0.48 — the best risk-adjusted result of the four books tested, at roughly half the drawdown of the base-case destination. Past performance does not guarantee future results.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	XOM	ExxonMobil	3.60%	Energy & Midstream	+43.2%	+1.56%	Integrated major; buyback engine, real-asset cash flow
2	CVX	Chevron	3.15%	Energy & Midstream	+43.0%	+1.36%	Low-cost barrels; dividend + AI-data-center gas deal
3	COP	ConocoPhillips	2.70%	Energy & Midstream	+46.4%	+1.26%	Lowest-cost US E&P, shale scale
4	WMB	Williams Companies	2.25%	Energy & Midstream	+23.5%	+0.53%	WATCH Aug 22 — off-grid turbine failures at 3 of 4 U.S. sites; falsifier on file. Nat-gas pipeline backbone for data centers
5	OKE	Oneok	1.80%	Energy & Midstream	+26.8%	+0.49%	Midstream toll model, durable distribution
6	IAU	iShares Gold	4.00%	Gold & Miners	−2.8%	−0.11%	Bullion ballast; central-bank buying at records
7	NEM	Newmont	2.50%	Gold & Miners	+18.8%	+0.47%	Senior gold producer, free-cash leverage to price
8	AEM	Agnico Eagle	2.00%	Gold & Miners	+12.2%	+0.25%	Low-jurisdiction-risk gold, disciplined operator
9	FNV	Franco-Nevada	2.00%	Gold & Miners	+18.8%	+0.38%	Royalty model — gold leverage, no mine-cost risk
10	WPM	Wheaton Precious Metals	1.50%	Gold & Miners	+18.5%	+0.28%	Streaming royalty, gold + silver optionality
11	LMT	Lockheed Martin	3.00%	Defense Backlog	+7.3%	+0.22%	Prime + THAAD restock; government-funded backlog
12	RTX	RTX	3.00%	Defense Backlog	+2.5%	+0.08%	Missiles + engines, multi-year order book
13	GD	General Dynamics	2.50%	Defense Backlog	+0.2%	+0.00%	Combat systems + Gulfstream; submarine demand
14	NOC	Northrop Grumman	2.00%	Defense Backlog	−14.7%	−0.29%	Strategic deterrent — B-21, space, missiles
15	HII	Huntington Ingalls	1.50%	Defense Backlog	−21.2%	−0.32%	Sole-source naval shipbuilder, decade backlog
16	PG	Procter & Gamble	3.00%	Pricing-Power Compounders	+7.9%	+0.24%	Pass-through pricing, defensive staple compounder
17	CAT	Caterpillar	3.00%	Pricing-Power Compounders	+40.6%	+1.22%	Infra + power-gen demand; pricing in a hot economy
18	MRSH	Marsh (Marsh McLennan)	3.00%	Pricing-Power Compounders	−3.2%	−0.10%	Insurance brokerage — pricing power, fee compounding
19	DE	Deere & Co	2.50%	Pricing-Power Compounders	+34.4%	+0.87%	Ag + precision tech, real-economy pricing
20	KO	Coca-Cola	2.50%	Pricing-Power Compounders	+28.4%	+0.71%	Global pricing power, dividend aristocrat
21	JPM	JPMorgan	3.00%	Banks & Financials	+5.3%	+0.16%	NIM + $50B buyback; best-in-class money-center
22	GS	Goldman Sachs	2.50%	Banks & Financials	+3.4%	+0.08%	Trading + advisory print; capital return
23	MS	Morgan Stanley	2.50%	Banks & Financials	+8.8%	+0.22%	Wealth franchise, $20B buyback, fee stability
24	BRK.B	Berkshire Hathaway	2.50%	Banks & Financials	+2.6%	+0.06%	Cash-rich quality compounder, inflation ballast
25	CME	CME Group	1.50%	Banks & Financials	+6.2%	+0.09%	Exchange toll-taker; volatility + rate-hedging volume
26	NVDA	Nvidia	3.00%	AI Picks-and-Shovels	+23.2%	+0.70%	Accelerator standard; netted against the real-asset book
27	AVGO	Broadcom	3.00%	AI Picks-and-Shovels	+5.0%	+0.15%	Custom silicon + networking, recurring software
28	MU	Micron	2.00%	AI Picks-and-Shovels	+260.7%	+5.24%	HBM bottleneck; ~80% gross-margin memory pricing
29	VRT	Vertiv	2.00%	AI Picks-and-Shovels	+50.0%	+1.00%	Data-center power & cooling — the shovel, not the chip
30	ANET	Arista Networks	2.00%	AI Picks-and-Shovels	+65.4%	+1.31%	Data-center networking for AI clusters
31	VTIP	Vanguard Short-Term TIPS	8.00%	TIPS & T-Bills Ballast	+1.3%	+0.10%	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
32	SGOV	iShares 0-3M Treasury	0.50%	TIPS & T-Bills Ballast	+2.8%	+0.01%	Cash equivalent — liquidity + rebalancing source
34	PBR	Petrobras	2.50%	Real-Economy International	+122.8%	+3.08%	High-yield deepwater barrels, EM commodity exporter
35	SHEL	Shell	2.50%	Real-Economy International	+40.1%	+1.01%	Intl integrated + LNG, valuation discount
36	VALE	Vale	2.00%	Real-Economy International	+7.5%	+0.15%	Iron ore + copper; real-asset EM leverage
37	TTE	TotalEnergies	2.00%	Real-Economy International	+34.6%	+0.70%	European integrated major, LNG + dividend
38	EWZ	iShares MSCI Brazil	1.00%	Real-Economy International	+38.4%	+0.39%	Commodity-exporter EM basket, real-rate beneficiary
+	VLO	Valero Energy	3.00%	Energy / Refining	+170.4%	+5.14%	RAISED Oct 11 — to 3.00% from 1.50% after Friday's 2.3% dip, paid for by trimming the book's other energy holdings, so its energy weight does not change. First bought Sep 28 for the diesel squeeze. Trim signal, written: a published White House restriction on diesel exports — the policy, not the price.
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.50%	Tobacco / Defensive	+28.7%	+0.43%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.00%	Tobacco / Defensive	+2.4%	+0.02%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)

Capital Wealth Theme 2 · AI Capex Supercycle · $100K · Cycle Theme

The build-out as an infrastructure decade — owned across the whole value chain, not one chip. Eight sleeves: compute & custom silicon, memory & fab equipment, power & electrification, hyperscaler end-demand, data-center REITs, materials, networking/optical, and a T-bill + gold ballast — so if compute derates, power/REITs/memory still carry. Bond signal: record IG issuance is financing data centers; US power demand inflecting up for the first time in ~20 years. Largely independent of the rate cycle. Thesis basis: IN08 secular-growth thesis · IN09 theme-overlap netting. 30 positions. Scenario stress test (illustrative, 1-yr): Inflation +9.0% · AI Capex +25.1% · Soft Landing +15.4% · Stagflation −4.6% — biggest upside, biggest downside. Portal-synced via slug theme2_aicapex. Performance (current weights, Oct 9 close): YTD +49.6% · 1-yr +54.9% · annualized since inception (2.5 yrs) +46.0%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	NVDA	Nvidia	4.00%	Compute & Silicon	+23.2%	+0.93%	Accelerator standard for AI training
2	AVGO	Broadcom	4.00%	Compute & Silicon	+5.0%	+0.20%	Custom silicon + networking
3	AMD	AMD	3.00%	Compute & Silicon	+183.9%	+5.55%	GPU/CPU share gains
4	MRVL	Marvell	2.50%	Compute & Silicon	+224.5%	+5.64%	Custom AI silicon + optics
5	ARM	Arm Holdings	2.50%	Compute & Silicon	+143.6%	+3.61%	Compute IP royalty model
6	MU	Micron	3.50%	Memory & Fab Equip	+260.7%	+9.17%	HBM bottleneck of the AI build
7	TSM	Taiwan Semi	3.50%	Memory & Fab Equip	+50.3%	+1.77%	Sole-scale advanced-node foundry
8	ASML	ASML	3.00%	Memory & Fab Equip	+67.2%	+2.03%	EUV monopoly for leading edge
9	AMAT	Applied Materials	2.00%	Memory & Fab Equip	+98.0%	+1.97%	Wafer-fab equipment breadth
10	LRCX	Lam Research	2.00%	Memory & Fab Equip	+86.8%	+1.74%	Etch/deposition for memory
11	NEE	NextEra Energy	3.50%	Power & Electrification	−1.5%	−0.05%	Renewables + regulated utility scale
12	VST	Vistra	3.50%	Power & Electrification	+0.5%	+0.02%	Independent power, data-center PPAs
13	GEV	GE Vernova	3.50%	Power & Electrification	+54.0%	+1.90%	Grid + gas turbines + nuclear
14	ETN	Eaton	3.00%	Power & Electrification	+36.0%	+1.09%	Electrical gear for data centers
15	VRT	Vertiv	2.50%	Power & Electrification	+50.0%	+1.26%	Data-center power & cooling
16	MSFT	Microsoft	4.00%	Hyperscaler Demand	+11.3%	+0.46%	Azure + Copilot end-demand
17	GOOGL	Alphabet	4.00%	Hyperscaler Demand	+12.6%	+0.51%	Search + Cloud + TPUs
18	AMZN	Amazon	3.50%	Hyperscaler Demand	+13.7%	+0.48%	AWS capacity build
19	META	Meta	2.50%	Hyperscaler Demand	+9.2%	+0.23%	Ad engine + AI infra spend
20	EQIX	Equinix	3.50%	Data-Center REITs	+36.0%	+1.26%	Interconnection data-center REIT
21	DLR	Digital Realty	3.50%	Data-Center REITs	+17.9%	+0.63%	Hyperscale data-center REIT
22	IRM	Iron Mountain	2.00%	Data-Center REITs	+41.2%	+0.83%	Data-center + records REIT
23	FCX	Freeport-McMoRan	4.00%	Materials for the Build	+46.1%	+1.85%	Copper for electrification
24	NUE	Nucor	3.00%	Materials for the Build	+54.7%	+1.65%	Steel for grid + construction
25	ALB	Albemarle	2.00%	Materials for the Build	−27.8%	−0.56%	Lithium for storage
26	ANET	Arista Networks	3.50%	Networking & Optical	+65.4%	+2.30%	AI-cluster networking leader
27	CIEN	Ciena	2.50%	Networking & Optical	+92.3%	+2.32%	Optical transport for AI
28	COHR	Coherent	2.00%	Networking & Optical	+69.4%	+1.39%	Optical components + lasers
29	SGOV	iShares 0-3M Treasury	8.50%	T-Bills + Gold Ballast	+2.8%	+0.24%	Cash equivalent ballast
30	IAU	iShares Gold	5.00%	T-Bills + Gold Ballast	−2.8%	−0.14%	Gold ballast
	TOTAL		99.50%

Capital Wealth Theme 3 · Soft Landing / Rate-Cut Pivot · $100K · Cycle Theme

What you tilt toward if inflation rolls over and the curve bull-steepens. Eight sleeves of rate-sensitive, broadened-beyond-mega-cap exposure: small/mid quality, duration growth, housing & building, REITs, regional banks, consumer cyclicals, long Treasuries, and international/EM. Bond signal: 10Y drifting toward 3.5%, real rates falling, 2s10s re-steepening positively, credit spreads tight. Thesis basis: IN08 cyclical / factor rotation · IN09 rebalance into the laggards. 29 positions. Scenario stress test (illustrative, 1-yr): Inflation +3.3% · AI Capex +13.1% · Soft Landing +21.4% · Stagflation −11.6% — highest reward, most fragile. Portal-synced via slug theme3_softlanding. Performance (current weights, Oct 9 close): YTD +1.1% · 1-yr +2.3% · 5-yr annualized +4.2% · 2022 stress −25.4% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	IWM	iShares Russell 2000	5.00%	Small & Mid Quality	+14.1%	+0.71%	Small-cap rate-cut beneficiary
2	AVUV	Avantis Small-Cap Value	5.00%	Small & Mid Quality	+18.4%	+0.93%	Small-cap value factor tilt
3	IJH	iShares Core S&P Mid-Cap	4.00%	Small & Mid Quality	+12.1%	+0.49%	Mid-cap quality core
4	CRM	Salesforce	4.00%	Duration Growth	−12.9%	−0.52%	Enterprise software duration
5	ADBE	Adobe	4.00%	Duration Growth	−30.8%	−1.24%	Creative + document franchise
6	NOW	ServiceNow	4.00%	Duration Growth	−8.1%	−0.32%	Workflow platform compounder
7	SHOP	Shopify	4.00%	Duration Growth	+6.1%	+0.25%	E-commerce duration growth
8	DHI	D.R. Horton	3.00%	Housing & Building	−5.5%	−0.17%	Largest US homebuilder
9	LEN	Lennar	3.00%	Housing & Building	−23.7%	−0.72%	Volume homebuilder, low rates win
10	SHW	Sherwin-Williams	2.50%	Housing & Building	−0.7%	−0.02%	Coatings pricing power
11	BLDR	Builders FirstSource	2.00%	Housing & Building	−48.6%	−0.98%	Building-products distribution
12	HD	Home Depot	1.50%	Housing & Building	−13.7%	−0.21%	Home-improvement cyclical
13	PLD	Prologis	3.50%	REITs	+3.8%	+0.13%	Industrial/logistics REIT
14	VMRK	Vivmark Residential	3.00%	REITs	+1.5%	+0.05%	Apartment REIT, rate-sensitive · was EQR, renamed Vivmark Residential Aug 18 2026
15	ESS	Essex Property Trust	3.00%	REITs	+7.9%	+0.24%	West Coast apartment REIT · replaces AVB (merged into VMRK Aug 17 2026)
16	AMT	American Tower	2.50%	REITs	+7.0%	+0.18%	Cell-tower REIT, duration
17	KRE	SPDR Regional Banks	4.00%	Regional Banks	+8.3%	+0.34%	Regional-bank basket, curve steepener
18	PNC	PNC Financial	3.00%	Regional Banks	+7.5%	+0.23%	Super-regional bank
19	USB	U.S. Bancorp	2.50%	Regional Banks	+10.0%	+0.25%	Scale regional bank
20	FITB	Fifth Third	2.50%	Regional Banks	+10.8%	+0.27%	Midwest regional bank
21	AMZN	Amazon	3.50%	Consumer Cyclicals	+13.7%	+0.48%	AWS capacity build
22	NKE	Nike	3.00%	Consumer Cyclicals	−44.1%	−1.33%	Consumer brand recovery
23	LOW	Lowe's	3.00%	Consumer Cyclicals	−21.7%	−0.65%	Home-improvement retail
24	SBUX	Starbucks	2.50%	Consumer Cyclicals	+9.7%	+0.24%	Consumer-discretionary turnaround
25	TLT	iShares 20+Y Treasury	6.50%	Long Treasuries	−7.4%	−0.48%	Long Treasury — capture the rally
26	IEF	iShares 7-10Y Treasury	5.00%	Long Treasuries	−4.2%	−0.21%	Intermediate Treasury duration
27	VEA	Vanguard Developed	4.00%	International / EM	+13.7%	+0.55%	Developed ex-US, weaker-dollar win
28	VWO	Vanguard EM	3.50%	International / EM	+11.5%	+0.40%	EM growth basket
29	EWZ	iShares MSCI Brazil	2.50%	International / EM	+38.4%	+0.96%	Commodity-exporter EM
	TOTAL		99.50%

Capital Wealth Theme 4 · Stagflation / Late-Cycle Defense · $100K · Cycle Theme

The hedge — the hardest regime, and the one the base case is closest to slipping into. Eight low-beta + real-asset sleeves: quality dividend compounders, healthcare, gold + TIPS, staples, utilities, energy, T-bills/short cash, and min-vol international. Bond signal: front end stays high on inflation, the long end can’t rally far, credit spreads widen as growth slows — duration alone won’t save you. The 1970s playbook. Thesis basis: IN04 downside-risk management · IN15 real assets · IN09 low-beta diversification. 30 positions. Scenario stress test (illustrative, 1-yr): Inflation +8.8% · AI Capex +7.0% · Soft Landing +6.8% · Stagflation +8.8% — the flat, all-weather hedge. Portal-synced via slug theme4_stagflation. Performance (current weights, Oct 9 close): YTD +9.3% · 1-yr +13.0% · 5-yr annualized +12.6% · 2022 stress +6.4% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	ABBV	AbbVie	3.43%	Dividend Compounders	+23.9%	+0.82%	Pharma + durable dividend
2	JNJ	Johnson & Johnson	3.43%	Dividend Compounders	+28.4%	+0.98%	Healthcare staple compounder
3	PEP	PepsiCo	2.94%	Dividend Compounders	−9.6%	−0.28%	Snacks/beverages defensive
4	MCD	McDonald's	2.94%	Dividend Compounders	−21.5%	−0.64%	Defensive franchise cash flow
5	HD	Home Depot	2.94%	Dividend Compounders	−13.7%	−0.40%	Home-improvement cyclical
6	LLY	Eli Lilly	3.92%	Healthcare	+10.3%	+0.40%	GLP-1 franchise + pipeline
7	UNH	UnitedHealth	2.94%	Healthcare	+17.2%	+0.51%	Managed-care scale
8	ISRG	Intuitive Surgical	2.94%	Healthcare	−25.1%	−0.74%	Surgical robotics moat
9	TMO	Thermo Fisher	1.96%	Healthcare	+13.9%	+0.27%	Life-science tools leader
10	GILD	Gilead	1.96%	Healthcare	+25.4%	+0.50%	Pipeline + yield
11	IAU	iShares Gold	4.90%	Gold + TIPS Ballast	−2.8%	−0.14%	Gold ballast
12	GLD	SPDR Gold	2.94%	Gold + TIPS Ballast	−3.0%	−0.09%	Bullion inflation ballast
14	VTIP	Vanguard Short TIPS	5.88%	Gold + TIPS Ballast	+1.3%	+0.08%	Sep 1 — moved from TIP: same inflation link, a third of the duration (TIP +0.3% vs VTIP +1.8% YTD; the drag was real yields repricing, not the CPI accrual)
15	PG	Procter & Gamble	2.94%	Consumer Staples	+7.9%	+0.23%	Pass-through pricing staple
16	COST	Costco	2.94%	Consumer Staples	+10.3%	+0.30%	Membership compounder
17	KO	Coca-Cola	2.45%	Consumer Staples	+28.4%	+0.70%	Global pricing power
18	WMT	Walmart	2.45%	Consumer Staples	+0.6%	+0.01%	Defensive retail scale
19	CL	Colgate-Palmolive	0.49%	Consumer Staples	+13.7%	+0.07%	Consumer staple
20	NEE	NextEra Energy	2.94%	Utilities	−1.5%	−0.04%	Renewables + regulated utility scale
21	DUK	Duke Energy	2.94%	Utilities	+2.1%	+0.06%	Regulated utility
22	SO	Southern Co	1.96%	Utilities	+1.3%	+0.02%	Regulated utility + nuclear
23	D	Dominion Energy	1.96%	Utilities	+8.5%	+0.17%	Regulated utility
24	CVX	Chevron	3.92%	Energy Hedge	+43.0%	+1.69%	Integrated major, dividend
25	XOM	ExxonMobil	3.92%	Energy Hedge	+43.2%	+1.70%	Integrated major, buybacks
26	COP	ConocoPhillips	1.96%	Energy Hedge	+46.4%	+0.91%	Low-cost US E&P
27	SGOV	iShares 0-3M Treasury	7.29%	T-Bills / Short Cash	+2.8%	+0.21%	Cash equivalent ballast
28	BIL	SPDR 1-3M T-Bill	5.88%	T-Bills / Short Cash	+2.8%	+0.17%	1-3M T-bill cash
29	EFAV	iShares MSCI EAFE Min-Vol	4.41%	Min-Vol International	+8.3%	+0.37%	Min-vol developed intl
30	IEFA	iShares Core EAFE	3.43%	Min-Vol International	+9.7%	+0.33%	Core developed intl
	TOTAL		99.50%
+	PM	Philip Morris Intl	1.50%	Tobacco / Defensive	+28.7%	+0.43%	Zyn / IQOS — 41% of 2025 sales now smoke-free (WSJ, Jul 10 2026)
+	BTI	British American Tobacco	1.00%	Tobacco / Defensive	+2.4%	+0.02%	Vuse / Velo Plus; US pouch share 6.7%→16.2% in 2025 (Jefferies)
+	USFR	WisdomTree Floating Rate Treasury	2.00%	Income / Rates	+3.0%	+0.06%	NEW Aug 22 — floating coupon resets UP if the Fed hikes; prediction markets price ~30% odds for Sept, 86% odds of zero cuts in 2026 (WSJ Aug 21–22)

Capital Wealth North Star 25 · $25K · Core

The North Star core book at $25K: 26 names over a 15.0% short-Treasury reserve, 1.69% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +22.6% · 1-yr +28.7%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	9.00%	Reserve	+2.8%	+0.26%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XLE	Energy Select SPDR	6.10%	Energy	+48.4%	+2.97%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
4	XOM	ExxonMobil	4.08%	Energy	+43.2%	+1.77%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
5	CVX	Chevron	3.05%	Energy	+43.0%	+1.32%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
6	NVDA	NVIDIA	5.09%	AI / Tech	+23.2%	+1.19%	Held at weight, not added to; the spender-versus-supplier question is open.
7	MSFT	Microsoft	5.09%	AI / Tech	+11.3%	+0.58%	Owned as a spender in the build-out rather than a supplier to it.
8	GOOGL	Alphabet	4.08%	AI / Tech	+12.6%	+0.52%	Search cash flow funds the TPU stack.
9	AAPL	Apple	4.08%	AI / Tech	+24.2%	+0.99%	Core position; the iPhone Duo is the first foldable with real share.
10	META	Meta	3.05%	AI / Tech	+9.2%	+0.28%	Ad engine plus the transaction layer its agents are being wired into.
11	TSM	Taiwan Semiconductor	3.05%	AI / Tech	+50.3%	+1.54%	The foundry everyone above depends on.
12	GEV	GE Vernova	4.08%	Power / Infra	+54.0%	+2.21%	Grid builder: turbines, grid gear, nuclear services.
13	NEE	NextEra Energy	2.04%	Power / Infra	−1.5%	−0.03%	Regulated utility plus the largest renewables book; 2.9% yield.
14	LMT	Lockheed Martin	4.08%	Defense	+7.3%	+0.30%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
15	RTX	RTX Corp	2.04%	Defense	+2.5%	+0.05%	Prime; engines and missiles.
16	IAU	iShares Gold	5.09%	Gold	−2.8%	−0.14%	Permanent insurance, not a trade on one meeting.
17	GDX	Gold Miners ETF	2.04%	Gold	+4.1%	+0.08%	Miners: the same trade with more beta.
18	LLY	Eli Lilly	4.08%	Healthcare	+10.3%	+0.42%	GLP-1 franchise; trimmed from the tactical weight.
19	ABBV	AbbVie	3.05%	Healthcare	+23.9%	+0.73%	Immunology plus a 2.6% yield.
20	JNJ	Johnson & Johnson	3.05%	Healthcare	+28.4%	+0.87%	Diversified; the sleeve’s ballast.
21	JPM	JPMorgan	4.08%	Financials	+5.3%	+0.22%	Best-in-class bank; net interest margin widens with the hike.
22	BRK.B	Berkshire Hathaway	3.05%	Financials	+2.6%	+0.08%	Cash-rich quality; held.
23	PG	Procter & Gamble	3.05%	Staples / Consumer	+7.9%	+0.24%	Pricing power; the sleeve the letter says earns its keep on the way down.
24	KO	Coca-Cola	2.04%	Staples / Consumer	+28.4%	+0.58%	Global staple; 2.3% yield.
25	CAT	Caterpillar	3.05%	Industrials	+40.6%	+1.24%	Machinery for the build-out and the mines.
26	EWY	iShares MSCI Korea ETF	2.04%	International	+82.3%	+1.69%	South Korea: memory and shipbuilding, +85% YTD.
	TOTAL		99.50%

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Capital Wealth North Star 50 · $50K · Core

The North Star core book at $50K: 39 names over a 15.0% short-Treasury reserve, 1.60% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +21.9% · 1-yr +25.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.99%	Reserve	+2.8%	+0.26%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XLE	Energy Select SPDR	2.52%	Energy	+48.4%	+1.23%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
4	XOM	ExxonMobil	3.36%	Energy	+43.2%	+1.46%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
5	CVX	Chevron	2.53%	Energy	+43.0%	+1.09%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
6	NVDA	NVIDIA	4.21%	AI / Tech	+23.2%	+0.98%	Held at weight, not added to; the spender-versus-supplier question is open.
7	MSFT	Microsoft	4.21%	AI / Tech	+11.3%	+0.48%	Owned as a spender in the build-out rather than a supplier to it.
8	GOOGL	Alphabet	3.36%	AI / Tech	+12.6%	+0.42%	Search cash flow funds the TPU stack.
9	AAPL	Apple	3.36%	AI / Tech	+24.2%	+0.82%	Core position; the iPhone Duo is the first foldable with real share.
10	META	Meta	2.53%	AI / Tech	+9.2%	+0.23%	Ad engine plus the transaction layer its agents are being wired into.
11	TSM	Taiwan Semiconductor	2.53%	AI / Tech	+50.3%	+1.28%	The foundry everyone above depends on.
12	GEV	GE Vernova	3.36%	Power / Infra	+54.0%	+1.82%	Grid builder: turbines, grid gear, nuclear services.
13	NEE	NextEra Energy	1.68%	Power / Infra	−1.5%	−0.03%	Regulated utility plus the largest renewables book; 2.9% yield.
14	LMT	Lockheed Martin	3.36%	Defense	+7.3%	+0.25%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
15	RTX	RTX Corp	1.68%	Defense	+2.5%	+0.04%	Prime; engines and missiles.
16	IAU	iShares Gold	4.21%	Gold	−2.8%	−0.12%	Permanent insurance, not a trade on one meeting.
17	GDX	Gold Miners ETF	1.68%	Gold	+4.1%	+0.07%	Miners: the same trade with more beta.
18	LLY	Eli Lilly	3.36%	Healthcare	+10.3%	+0.35%	GLP-1 franchise; trimmed from the tactical weight.
19	ABBV	AbbVie	2.53%	Healthcare	+23.9%	+0.61%	Immunology plus a 2.6% yield.
20	JNJ	Johnson & Johnson	2.53%	Healthcare	+28.4%	+0.72%	Diversified; the sleeve’s ballast.
21	JPM	JPMorgan	3.36%	Financials	+5.3%	+0.18%	Best-in-class bank; net interest margin widens with the hike.
22	BRK.B	Berkshire Hathaway	2.53%	Financials	+2.6%	+0.07%	Cash-rich quality; held.
23	PG	Procter & Gamble	2.53%	Staples / Consumer	+7.9%	+0.20%	Pricing power; the sleeve the letter says earns its keep on the way down.
24	KO	Coca-Cola	1.68%	Staples / Consumer	+28.4%	+0.48%	Global staple; 2.3% yield.
25	CAT	Caterpillar	2.53%	Industrials	+40.6%	+1.03%	Machinery for the build-out and the mines.
26	EWY	iShares MSCI Korea ETF	1.68%	International	+82.3%	+1.39%	South Korea: memory and shipbuilding, +85% YTD.
27	COP	ConocoPhillips	1.68%	Energy	+46.4%	+0.78%	Lowest-cost independent; the cleanest crude beta on the list.
28	LNG	Cheniere Energy	1.68%	Energy	+44.1%	+0.75%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
29	AVGO	Broadcom	1.68%	AI / Tech	+5.0%	+0.09%	Custom silicon and networking; flat YTD after a 50% 2025.
30	AMZN	Amazon	1.26%	AI / Tech	+13.7%	+0.17%	AWS plus retail; trimmed after the run.
31	PWR	Quanta Services	1.26%	Power / Infra	+67.4%	+0.85%	The contractor that builds the grid the data centers need.
32	VST	Vistra Energy	1.26%	Power / Infra	+0.5%	+0.01%	Merchant power with a nuclear fleet; the profitable way to own the demand.
33	NOC	Northrop Grumman	0.85%	Defense	−14.7%	−0.13%	Prime; B-21 and strategic.
34	PLTR	Palantir	1.26%	Defense	+17.6%	+0.22%	Software prime; trimmed after the run, kept for the seat.
35	UNH	UnitedHealth Group	1.26%	Healthcare	+17.2%	+0.22%	Managed care at a recovered price.
36	GS	Goldman Sachs	1.26%	Financials	+3.4%	+0.04%	Trading and advisory recovery.
37	COST	Costco	1.26%	Staples / Consumer	+10.3%	+0.13%	Membership compounder; trimmed after a −7% month.
38	VGK	Vanguard FTSE Europe ETF	1.26%	International	+5.0%	+0.06%	Europe fund; the cheap developed-market seat.
39	ETN	Eaton	1.26%	Industrials	+36.0%	+0.46%	Electrical equipment for the grid and the data center.
	TOTAL		99.50%

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Capital Wealth North Star 100 · $100K · Core

The North Star core book at $100K: 47 names over a 15.0% short-Treasury reserve, 1.63% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +21.5% · 1-yr +24.8%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.92%	Reserve	+2.8%	+0.25%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XOM	ExxonMobil	2.99%	Energy	+43.2%	+1.30%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
4	CVX	Chevron	2.99%	Energy	+43.0%	+1.29%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
5	COP	ConocoPhillips	2.99%	Energy	+46.4%	+1.39%	Lowest-cost independent; the cleanest crude beta on the list.
6	LNG	Cheniere Energy	1.99%	Energy	+44.1%	+0.88%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
7	WMB	Williams Companies	1.49%	Energy	+23.5%	+0.35%	Gas pipelines: fee-based, the power build-out’s fuel line.
8	XLE	Energy Select SPDR	1.49%	Energy	+48.4%	+0.73%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
9	NVDA	NVIDIA	3.48%	AI / Tech	+23.2%	+0.81%	Held at weight, not added to; the spender-versus-supplier question is open.
10	MSFT	Microsoft	2.99%	AI / Tech	+11.3%	+0.34%	Owned as a spender in the build-out rather than a supplier to it.
11	GOOGL	Alphabet	2.99%	AI / Tech	+12.6%	+0.38%	Search cash flow funds the TPU stack.
12	META	Meta	2.49%	AI / Tech	+9.2%	+0.23%	Ad engine plus the transaction layer its agents are being wired into.
13	AAPL	Apple	2.49%	AI / Tech	+24.2%	+0.60%	Core position; the iPhone Duo is the first foldable with real share.
14	AVGO	Broadcom	1.99%	AI / Tech	+5.0%	+0.10%	Custom silicon and networking; flat YTD after a 50% 2025.
15	TSM	Taiwan Semiconductor	1.99%	AI / Tech	+50.3%	+1.01%	The foundry everyone above depends on.
16	AMZN	Amazon	1.49%	AI / Tech	+13.7%	+0.21%	AWS plus retail; trimmed after the run.
17	CRWD	CrowdStrike	1.00%	AI / Tech	+134.7%	+1.35%	Cyber platform; small after +18% on the week.
18	GEV	GE Vernova	2.49%	Power / Infra	+54.0%	+1.35%	Grid builder: turbines, grid gear, nuclear services.
19	PWR	Quanta Services	1.49%	Power / Infra	+67.4%	+1.01%	The contractor that builds the grid the data centers need.
20	VST	Vistra Energy	1.49%	Power / Infra	+0.5%	+0.01%	Merchant power with a nuclear fleet; the profitable way to own the demand.
21	NEE	NextEra Energy	1.49%	Power / Infra	−1.5%	−0.02%	Regulated utility plus the largest renewables book; 2.9% yield.
22	CCJ	Cameco	1.00%	Power / Infra	−3.8%	−0.04%	Uranium; the fuel behind the nuclear demand story.
23	LMT	Lockheed Martin	1.99%	Defense	+7.3%	+0.15%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
24	RTX	RTX Corp	1.49%	Defense	+2.5%	+0.04%	Prime; engines and missiles.
25	NOC	Northrop Grumman	1.00%	Defense	−14.7%	−0.15%	Prime; B-21 and strategic.
26	GD	General Dynamics	1.00%	Defense	+0.2%	+0.00%	Prime; submarines and Gulfstream.
27	PLTR	Palantir	1.49%	Defense	+17.6%	+0.26%	Software prime; trimmed after the run, kept for the seat.
28	LHX	L3Harris	1.00%	Defense	−18.3%	−0.18%	Electronics and space.
29	IAU	iShares Gold	3.98%	Gold	−2.8%	−0.11%	Permanent insurance, not a trade on one meeting.
30	GDX	Gold Miners ETF	1.99%	Gold	+4.1%	+0.08%	Miners: the same trade with more beta.
31	LLY	Eli Lilly	2.49%	Healthcare	+10.3%	+0.26%	GLP-1 franchise; trimmed from the tactical weight.
32	ABBV	AbbVie	1.99%	Healthcare	+23.9%	+0.48%	Immunology plus a 2.6% yield.
33	JNJ	Johnson & Johnson	1.99%	Healthcare	+28.4%	+0.57%	Diversified; the sleeve’s ballast.
34	UNH	UnitedHealth Group	1.49%	Healthcare	+17.2%	+0.26%	Managed care at a recovered price.
35	AZN	AstraZeneca	1.00%	Healthcare	−12.5%	−0.13%	Oncology pipeline, 2% yield.
36	JPM	JPMorgan	2.49%	Financials	+5.3%	+0.13%	Best-in-class bank; net interest margin widens with the hike.
37	GS	Goldman Sachs	1.49%	Financials	+3.4%	+0.05%	Trading and advisory recovery.
38	CB	Chubb	1.00%	Financials	+10.3%	+0.10%	Underwriting discipline; pricing power in a hard market.
39	PG	Procter & Gamble	1.99%	Staples / Consumer	+7.9%	+0.16%	Pricing power; the sleeve the letter says earns its keep on the way down.
40	KO	Coca-Cola	1.49%	Staples / Consumer	+28.4%	+0.43%	Global staple; 2.3% yield.
41	COST	Costco	1.49%	Staples / Consumer	+10.3%	+0.15%	Membership compounder; trimmed after a −7% month.
42	PM	Philip Morris Intl	1.00%	Staples / Consumer	+28.7%	+0.29%	Smoke-free transition, 3% yield.
43	EWY	iShares MSCI Korea ETF	1.49%	International	+82.3%	+1.23%	South Korea: memory and shipbuilding, +85% YTD.
44	VGK	Vanguard FTSE Europe ETF	1.49%	International	+5.0%	+0.08%	Europe fund; the cheap developed-market seat.
45	CAT	Caterpillar	1.49%	Industrials	+40.6%	+0.61%	Machinery for the build-out and the mines.
46	ETN	Eaton	1.49%	Industrials	+36.0%	+0.54%	Electrical equipment for the grid and the data center.
47	BRK.B	Berkshire Hathaway	1.99%	Financials	+2.6%	+0.05%	Cash-rich quality; held.
	TOTAL		99.50%

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Capital Wealth North Star 250 · $250K · Core

The North Star core book at $250K: 59 names over a 15.0% short-Treasury reserve, 1.71% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +22.4% · 1-yr +26.0%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.94%	Reserve	+2.8%	+0.26%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XOM	ExxonMobil	2.68%	Energy	+43.2%	+1.16%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
4	CVX	Chevron	2.60%	Energy	+43.0%	+1.12%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
5	COP	ConocoPhillips	2.60%	Energy	+46.4%	+1.21%	Lowest-cost independent; the cleanest crude beta on the list.
6	LNG	Cheniere Energy	1.73%	Energy	+44.1%	+0.77%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
7	WMB	Williams Companies	1.29%	Energy	+23.5%	+0.31%	Gas pipelines: fee-based, the power build-out’s fuel line.
8	XLE	Energy Select SPDR	1.29%	Energy	+48.4%	+0.63%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
9	NVDA	NVIDIA	3.02%	AI / Tech	+23.2%	+0.71%	Held at weight, not added to; the spender-versus-supplier question is open.
10	MSFT	Microsoft	2.60%	AI / Tech	+11.3%	+0.30%	Owned as a spender in the build-out rather than a supplier to it.
11	GOOGL	Alphabet	2.60%	AI / Tech	+12.6%	+0.33%	Search cash flow funds the TPU stack.
12	META	Meta	2.16%	AI / Tech	+9.2%	+0.20%	Ad engine plus the transaction layer its agents are being wired into.
13	AAPL	Apple	2.16%	AI / Tech	+24.2%	+0.52%	Core position; the iPhone Duo is the first foldable with real share.
14	AVGO	Broadcom	1.73%	AI / Tech	+5.0%	+0.09%	Custom silicon and networking; flat YTD after a 50% 2025.
15	TSM	Taiwan Semiconductor	1.73%	AI / Tech	+50.3%	+0.88%	The foundry everyone above depends on.
16	AMZN	Amazon	1.29%	AI / Tech	+13.7%	+0.18%	AWS plus retail; trimmed after the run.
17	CRWD	CrowdStrike	0.87%	AI / Tech	+134.7%	+1.18%	Cyber platform; small after +18% on the week.
18	GEV	GE Vernova	2.16%	Power / Infra	+54.0%	+1.17%	Grid builder: turbines, grid gear, nuclear services.
19	PWR	Quanta Services	1.29%	Power / Infra	+67.4%	+0.87%	The contractor that builds the grid the data centers need.
20	VST	Vistra Energy	1.29%	Power / Infra	+0.5%	+0.01%	Merchant power with a nuclear fleet; the profitable way to own the demand.
21	NEE	NextEra Energy	1.29%	Power / Infra	−1.5%	−0.02%	Regulated utility plus the largest renewables book; 2.9% yield.
22	CCJ	Cameco	0.87%	Power / Infra	−3.8%	−0.03%	Uranium; the fuel behind the nuclear demand story.
23	LMT	Lockheed Martin	1.73%	Defense	+7.3%	+0.13%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
24	RTX	RTX Corp	1.29%	Defense	+2.5%	+0.03%	Prime; engines and missiles.
25	NOC	Northrop Grumman	0.87%	Defense	−14.7%	−0.13%	Prime; B-21 and strategic.
26	GD	General Dynamics	0.87%	Defense	+0.2%	+0.00%	Prime; submarines and Gulfstream.
27	PLTR	Palantir	1.29%	Defense	+17.6%	+0.23%	Software prime; trimmed after the run, kept for the seat.
28	LHX	L3Harris	0.87%	Defense	−18.3%	−0.16%	Electronics and space.
29	IAU	iShares Gold	3.46%	Gold	−2.8%	−0.10%	Permanent insurance, not a trade on one meeting.
30	GDX	Gold Miners ETF	1.73%	Gold	+4.1%	+0.07%	Miners: the same trade with more beta.
31	LLY	Eli Lilly	2.16%	Healthcare	+10.3%	+0.22%	GLP-1 franchise; trimmed from the tactical weight.
32	ABBV	AbbVie	1.73%	Healthcare	+23.9%	+0.41%	Immunology plus a 2.6% yield.
33	JNJ	Johnson & Johnson	1.73%	Healthcare	+28.4%	+0.49%	Diversified; the sleeve’s ballast.
34	UNH	UnitedHealth Group	1.29%	Healthcare	+17.2%	+0.22%	Managed care at a recovered price.
35	AZN	AstraZeneca	0.87%	Healthcare	−12.5%	−0.11%	Oncology pipeline, 2% yield.
36	JPM	JPMorgan	2.16%	Financials	+5.3%	+0.12%	Best-in-class bank; net interest margin widens with the hike.
37	GS	Goldman Sachs	1.29%	Financials	+3.4%	+0.04%	Trading and advisory recovery.
38	CB	Chubb	0.87%	Financials	+10.3%	+0.09%	Underwriting discipline; pricing power in a hard market.
39	PG	Procter & Gamble	1.73%	Staples / Consumer	+7.9%	+0.14%	Pricing power; the sleeve the letter says earns its keep on the way down.
40	KO	Coca-Cola	1.29%	Staples / Consumer	+28.4%	+0.37%	Global staple; 2.3% yield.
41	COST	Costco	1.29%	Staples / Consumer	+10.3%	+0.13%	Membership compounder; trimmed after a −7% month.
42	PM	Philip Morris Intl	0.87%	Staples / Consumer	+28.7%	+0.25%	Smoke-free transition, 3% yield.
43	EWY	iShares MSCI Korea ETF	1.29%	International	+82.3%	+1.07%	South Korea: memory and shipbuilding, +85% YTD.
44	VGK	Vanguard FTSE Europe ETF	1.29%	International	+5.0%	+0.07%	Europe fund; the cheap developed-market seat.
45	CAT	Caterpillar	1.29%	Industrials	+40.6%	+0.53%	Machinery for the build-out and the mines.
46	ETN	Eaton	1.29%	Industrials	+36.0%	+0.47%	Electrical equipment for the grid and the data center.
47	BRK.B	Berkshire Hathaway	1.73%	Financials	+2.6%	+0.04%	Cash-rich quality; held.
48	WMT	Walmart	1.29%	Staples / Consumer	+0.6%	+0.01%	Scale retailer; the consumer’s trade-down destination.
49	V	Visa	1.29%	Staples / Consumer	+10.6%	+0.14%	Payments toll road.
50	HON	Honeywell (Quantinuum)	0.87%	Power / Infra	+2.9%	+0.03%	Automation and aerospace; the conglomerate seat.
51	MO	Altria Group	0.87%	Staples / Consumer	+30.3%	+0.27%	6.1% yield; the income seat in staples.
52	EOG	EOG Resources	0.87%	Energy	+44.6%	+0.39%	Permian free cash flow, low leverage.
53	KMI	Kinder Morgan	0.87%	Energy	+21.6%	+0.19%	Midstream fees, 3.8% yield, no oil price in the coupon.
54	NEM	Newmont	0.87%	Gold	+18.8%	+0.16%	Largest miner; +180% in 2025.
55	TXN	Texas Instruments	0.87%	AI / Tech	+66.3%	+0.58%	Analog chips, 2.1% yield; the industrial side of semis.
56	BAC	Bank of America	0.87%	Financials	+0.4%	+0.00%	Rate-sensitive deposit franchise.
57	MS	Morgan Stanley	0.87%	Financials	+8.8%	+0.08%	Wealth management fee engine.
58	DG	Dollar General	0.65%	Staples / Consumer	−2.3%	−0.02%	Rural discount; the trade-down beneficiary.
59	MRVL	Marvell Technology	0.87%	AI / Tech	+224.5%	+1.96%	Custom AI silicon; the networking side of memory.
	TOTAL		99.50%

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Capital Wealth North Star 500 · $500K · Core

The North Star core book at $500K: 73 names over a 15.0% short-Treasury reserve, 1.71% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +23.5% · 1-yr +26.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.93%	Reserve	+2.8%	+0.25%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XOM	ExxonMobil	2.21%	Energy	+43.2%	+0.96%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
4	CVX	Chevron	2.35%	Energy	+43.0%	+1.01%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
5	COP	ConocoPhillips	2.35%	Energy	+46.4%	+1.10%	Lowest-cost independent; the cleanest crude beta on the list.
6	LNG	Cheniere Energy	1.56%	Energy	+44.1%	+0.69%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
7	WMB	Williams Companies	1.17%	Energy	+23.5%	+0.28%	Gas pipelines: fee-based, the power build-out’s fuel line.
8	XLE	Energy Select SPDR	1.17%	Energy	+48.4%	+0.57%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
9	NVDA	NVIDIA	2.74%	AI / Tech	+23.2%	+0.64%	Held at weight, not added to; the spender-versus-supplier question is open.
10	MSFT	Microsoft	2.35%	AI / Tech	+11.3%	+0.27%	Owned as a spender in the build-out rather than a supplier to it.
11	GOOGL	Alphabet	2.35%	AI / Tech	+12.6%	+0.30%	Search cash flow funds the TPU stack.
12	META	Meta	1.95%	AI / Tech	+9.2%	+0.18%	Ad engine plus the transaction layer its agents are being wired into.
13	AAPL	Apple	1.95%	AI / Tech	+24.2%	+0.47%	Core position; the iPhone Duo is the first foldable with real share.
14	AVGO	Broadcom	1.56%	AI / Tech	+5.0%	+0.08%	Custom silicon and networking; flat YTD after a 50% 2025.
15	TSM	Taiwan Semiconductor	1.56%	AI / Tech	+50.3%	+0.79%	The foundry everyone above depends on.
16	AMZN	Amazon	1.17%	AI / Tech	+13.7%	+0.16%	AWS plus retail; trimmed after the run.
17	CRWD	CrowdStrike	0.79%	AI / Tech	+134.7%	+1.07%	Cyber platform; small after +18% on the week.
18	GEV	GE Vernova	1.95%	Power / Infra	+54.0%	+1.06%	Grid builder: turbines, grid gear, nuclear services.
19	PWR	Quanta Services	1.17%	Power / Infra	+67.4%	+0.79%	The contractor that builds the grid the data centers need.
20	VST	Vistra Energy	1.17%	Power / Infra	+0.5%	+0.01%	Merchant power with a nuclear fleet; the profitable way to own the demand.
21	NEE	NextEra Energy	1.17%	Power / Infra	−1.5%	−0.02%	Regulated utility plus the largest renewables book; 2.9% yield.
22	CCJ	Cameco	0.79%	Power / Infra	−3.8%	−0.03%	Uranium; the fuel behind the nuclear demand story.
23	LMT	Lockheed Martin	1.56%	Defense	+7.3%	+0.11%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
24	RTX	RTX Corp	1.17%	Defense	+2.5%	+0.03%	Prime; engines and missiles.
25	NOC	Northrop Grumman	0.79%	Defense	−14.7%	−0.12%	Prime; B-21 and strategic.
26	GD	General Dynamics	0.79%	Defense	+0.2%	+0.00%	Prime; submarines and Gulfstream.
27	PLTR	Palantir	1.17%	Defense	+17.6%	+0.21%	Software prime; trimmed after the run, kept for the seat.
28	LHX	L3Harris	0.79%	Defense	−18.3%	−0.15%	Electronics and space.
29	IAU	iShares Gold	3.12%	Gold	−2.8%	−0.09%	Permanent insurance, not a trade on one meeting.
30	GDX	Gold Miners ETF	1.56%	Gold	+4.1%	+0.06%	Miners: the same trade with more beta.
31	LLY	Eli Lilly	1.95%	Healthcare	+10.3%	+0.20%	GLP-1 franchise; trimmed from the tactical weight.
32	ABBV	AbbVie	1.56%	Healthcare	+23.9%	+0.37%	Immunology plus a 2.6% yield.
33	JNJ	Johnson & Johnson	1.56%	Healthcare	+28.4%	+0.44%	Diversified; the sleeve’s ballast.
34	UNH	UnitedHealth Group	1.17%	Healthcare	+17.2%	+0.20%	Managed care at a recovered price.
35	AZN	AstraZeneca	0.79%	Healthcare	−12.5%	−0.10%	Oncology pipeline, 2% yield.
36	JPM	JPMorgan	1.95%	Financials	+5.3%	+0.10%	Best-in-class bank; net interest margin widens with the hike.
37	GS	Goldman Sachs	1.17%	Financials	+3.4%	+0.04%	Trading and advisory recovery.
38	CB	Chubb	0.79%	Financials	+10.3%	+0.08%	Underwriting discipline; pricing power in a hard market.
39	PG	Procter & Gamble	1.56%	Staples / Consumer	+7.9%	+0.12%	Pricing power; the sleeve the letter says earns its keep on the way down.
40	KO	Coca-Cola	1.17%	Staples / Consumer	+28.4%	+0.33%	Global staple; 2.3% yield.
41	COST	Costco	1.17%	Staples / Consumer	+10.3%	+0.12%	Membership compounder; trimmed after a −7% month.
42	PM	Philip Morris Intl	0.79%	Staples / Consumer	+28.7%	+0.23%	Smoke-free transition, 3% yield.
43	EWY	iShares MSCI Korea ETF	1.17%	International	+82.3%	+0.97%	South Korea: memory and shipbuilding, +85% YTD.
44	VGK	Vanguard FTSE Europe ETF	1.17%	International	+5.0%	+0.06%	Europe fund; the cheap developed-market seat.
45	CAT	Caterpillar	1.17%	Industrials	+40.6%	+0.48%	Machinery for the build-out and the mines.
46	ETN	Eaton	1.17%	Industrials	+36.0%	+0.42%	Electrical equipment for the grid and the data center.
47	BRK.B	Berkshire Hathaway	1.56%	Financials	+2.6%	+0.04%	Cash-rich quality; held.
48	WMT	Walmart	1.17%	Staples / Consumer	+0.6%	+0.01%	Scale retailer; the consumer’s trade-down destination.
49	V	Visa	1.17%	Staples / Consumer	+10.6%	+0.12%	Payments toll road.
50	HON	Honeywell (Quantinuum)	0.79%	Power / Infra	+2.9%	+0.02%	Automation and aerospace; the conglomerate seat.
51	MO	Altria Group	0.79%	Staples / Consumer	+30.3%	+0.24%	6.1% yield; the income seat in staples.
52	EOG	EOG Resources	0.79%	Energy	+44.6%	+0.35%	Permian free cash flow, low leverage.
53	KMI	Kinder Morgan	0.79%	Energy	+21.6%	+0.17%	Midstream fees, 3.8% yield, no oil price in the coupon.
54	NEM	Newmont	0.79%	Gold	+18.8%	+0.15%	Largest miner; +180% in 2025.
55	TXN	Texas Instruments	0.79%	AI / Tech	+66.3%	+0.53%	Analog chips, 2.1% yield; the industrial side of semis.
56	BAC	Bank of America	0.79%	Financials	+0.4%	+0.00%	Rate-sensitive deposit franchise.
57	MS	Morgan Stanley	0.79%	Financials	+8.8%	+0.07%	Wealth management fee engine.
58	DG	Dollar General	0.59%	Staples / Consumer	−2.3%	−0.01%	Rural discount; the trade-down beneficiary.
59	MRVL	Marvell Technology	0.79%	AI / Tech	+224.5%	+1.78%	Custom AI silicon; the networking side of memory.
60	HAL	Halliburton	0.59%	Energy	+16.8%	+0.10%	Oilfield services: the pick-and-shovel on $100 crude.
61	SLB	Schlumberger	0.59%	Energy	+29.6%	+0.18%	International services leader.
62	BP	BP plc	0.59%	Energy	+38.1%	+0.23%	Cheapest major on the list, 4.4% yield.
63	OXY	Occidental	0.59%	Energy	+48.2%	+0.29%	Berkshire-backed Permian; higher beta to the barrel.
64	WPM	Wheaton PM	0.59%	Gold	+18.5%	+0.11%	Streaming royalty; no mine risk.
65	RGLD	Royal Gold	0.59%	Gold	+7.2%	+0.04%	Royalty company; the quiet compounder.
66	PNC	PNC Financial	0.79%	Financials	+7.5%	+0.06%	Regional bank; held for the 2.8% yield.
67	HWM	Howmet Aerospace	0.59%	Defense	+10.0%	+0.06%	Aerospace fasteners and engine parts.
68	BA	Boeing	0.59%	Defense	−12.3%	−0.07%	The recovery seat; sized for the risk.
69	ARM	Arm Holdings	0.59%	AI / Tech	+143.6%	+0.85%	Licensing royalty on every chip in the build-out.
70	DELL	Dell Technologies	0.59%	AI / Tech	+369.8%	+2.19%	Server assembler for the build-out; +366% YTD, sized accordingly.
71	URA	Uranium Miners ETF	0.59%	Power / Infra	−9.0%	−0.05%	Diversified uranium fund.
72	MP	MP Materials	0.39%	Power / Infra	−8.7%	−0.03%	Rare earths, the one domestic supplier.
73	UAL	United Airlines	0.59%	Industrials	−3.9%	−0.02%	Airline with pricing power; small and cyclical.
	TOTAL		99.50%

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Capital Wealth North Star 750 · $750K · Core

The North Star core book at $750K: 77 names over a 15.0% short-Treasury reserve, 1.73% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +22.8% · 1-yr +25.9%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.96%	Reserve	+2.8%	+0.26%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XOM	ExxonMobil	2.20%	Energy	+43.2%	+0.96%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
4	CVX	Chevron	2.26%	Energy	+43.0%	+0.98%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
5	COP	ConocoPhillips	2.26%	Energy	+46.4%	+1.05%	Lowest-cost independent; the cleanest crude beta on the list.
6	LNG	Cheniere Energy	1.50%	Energy	+44.1%	+0.67%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
7	WMB	Williams Companies	1.50%	Energy	+23.5%	+0.36%	Gas pipelines: fee-based, the power build-out’s fuel line.
8	XLE	Energy Select SPDR	1.12%	Energy	+48.4%	+0.55%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
9	NVDA	NVIDIA	2.63%	AI / Tech	+23.2%	+0.61%	Held at weight, not added to; the spender-versus-supplier question is open.
10	MSFT	Microsoft	2.26%	AI / Tech	+11.3%	+0.26%	Owned as a spender in the build-out rather than a supplier to it.
11	GOOGL	Alphabet	2.26%	AI / Tech	+12.6%	+0.29%	Search cash flow funds the TPU stack.
12	META	Meta	1.88%	AI / Tech	+9.2%	+0.17%	Ad engine plus the transaction layer its agents are being wired into.
13	AAPL	Apple	1.88%	AI / Tech	+24.2%	+0.46%	Core position; the iPhone Duo is the first foldable with real share.
14	AVGO	Broadcom	1.50%	AI / Tech	+5.0%	+0.08%	Custom silicon and networking; flat YTD after a 50% 2025.
15	TSM	Taiwan Semiconductor	1.50%	AI / Tech	+50.3%	+0.76%	The foundry everyone above depends on.
16	AMZN	Amazon	1.12%	AI / Tech	+13.7%	+0.15%	AWS plus retail; trimmed after the run.
17	CRWD	CrowdStrike	1.12%	AI / Tech	+134.7%	+1.52%	Cyber platform; small after +18% on the week.
18	GEV	GE Vernova	1.88%	Power / Infra	+54.0%	+1.02%	Grid builder: turbines, grid gear, nuclear services.
19	PWR	Quanta Services	1.12%	Power / Infra	+67.4%	+0.76%	The contractor that builds the grid the data centers need.
20	VST	Vistra Energy	1.12%	Power / Infra	+0.5%	+0.01%	Merchant power with a nuclear fleet; the profitable way to own the demand.
21	NEE	NextEra Energy	1.12%	Power / Infra	−1.5%	−0.02%	Regulated utility plus the largest renewables book; 2.9% yield.
22	CCJ	Cameco	0.76%	Power / Infra	−3.8%	−0.03%	Uranium; the fuel behind the nuclear demand story.
23	LMT	Lockheed Martin	1.50%	Defense	+7.3%	+0.11%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
24	RTX	RTX Corp	1.12%	Defense	+2.5%	+0.03%	Prime; engines and missiles.
25	NOC	Northrop Grumman	0.76%	Defense	−14.7%	−0.11%	Prime; B-21 and strategic.
26	GD	General Dynamics	0.76%	Defense	+0.2%	+0.00%	Prime; submarines and Gulfstream.
27	PLTR	Palantir	1.12%	Defense	+17.6%	+0.20%	Software prime; trimmed after the run, kept for the seat.
28	LHX	L3Harris	0.76%	Defense	−18.3%	−0.14%	Electronics and space.
29	IAU	iShares Gold	3.00%	Gold	−2.8%	−0.09%	Permanent insurance, not a trade on one meeting.
30	GDX	Gold Miners ETF	1.50%	Gold	+4.1%	+0.06%	Miners: the same trade with more beta.
31	LLY	Eli Lilly	1.88%	Healthcare	+10.3%	+0.19%	GLP-1 franchise; trimmed from the tactical weight.
32	ABBV	AbbVie	1.50%	Healthcare	+23.9%	+0.36%	Immunology plus a 2.6% yield.
33	JNJ	Johnson & Johnson	1.50%	Healthcare	+28.4%	+0.43%	Diversified; the sleeve’s ballast.
34	UNH	UnitedHealth Group	1.12%	Healthcare	+17.2%	+0.19%	Managed care at a recovered price.
35	AZN	AstraZeneca	1.12%	Healthcare	−12.5%	−0.14%	Oncology pipeline, 2% yield.
36	JPM	JPMorgan	1.88%	Financials	+5.3%	+0.10%	Best-in-class bank; net interest margin widens with the hike.
37	GS	Goldman Sachs	1.12%	Financials	+3.4%	+0.04%	Trading and advisory recovery.
38	CB	Chubb	1.12%	Financials	+10.3%	+0.12%	Underwriting discipline; pricing power in a hard market.
39	PG	Procter & Gamble	1.50%	Staples / Consumer	+7.9%	+0.12%	Pricing power; the sleeve the letter says earns its keep on the way down.
40	KO	Coca-Cola	1.12%	Staples / Consumer	+28.4%	+0.32%	Global staple; 2.3% yield.
41	COST	Costco	1.12%	Staples / Consumer	+10.3%	+0.12%	Membership compounder; trimmed after a −7% month.
42	PM	Philip Morris Intl	0.76%	Staples / Consumer	+28.7%	+0.22%	Smoke-free transition, 3% yield.
43	EWY	iShares MSCI Korea ETF	1.12%	International	+82.3%	+0.93%	South Korea: memory and shipbuilding, +85% YTD.
44	VGK	Vanguard FTSE Europe ETF	1.12%	International	+5.0%	+0.06%	Europe fund; the cheap developed-market seat.
45	CAT	Caterpillar	1.12%	Industrials	+40.6%	+0.46%	Machinery for the build-out and the mines.
46	ETN	Eaton	1.12%	Industrials	+36.0%	+0.41%	Electrical equipment for the grid and the data center.
47	BRK.B	Berkshire Hathaway	1.50%	Financials	+2.6%	+0.04%	Cash-rich quality; held.
48	WMT	Walmart	1.12%	Staples / Consumer	+0.6%	+0.01%	Scale retailer; the consumer’s trade-down destination.
49	V	Visa	1.12%	Staples / Consumer	+10.6%	+0.12%	Payments toll road.
50	HON	Honeywell (Quantinuum)	0.76%	Power / Infra	+2.9%	+0.02%	Automation and aerospace; the conglomerate seat.
51	MO	Altria Group	0.76%	Staples / Consumer	+30.3%	+0.23%	6.1% yield; the income seat in staples.
52	EOG	EOG Resources	0.76%	Energy	+44.6%	+0.34%	Permian free cash flow, low leverage.
53	KMI	Kinder Morgan	0.76%	Energy	+21.6%	+0.16%	Midstream fees, 3.8% yield, no oil price in the coupon.
54	NEM	Newmont	0.76%	Gold	+18.8%	+0.14%	Largest miner; +180% in 2025.
55	TXN	Texas Instruments	0.76%	AI / Tech	+66.3%	+0.51%	Analog chips, 2.1% yield; the industrial side of semis.
56	BAC	Bank of America	0.76%	Financials	+0.4%	+0.00%	Rate-sensitive deposit franchise.
57	MS	Morgan Stanley	0.76%	Financials	+8.8%	+0.07%	Wealth management fee engine.
58	DG	Dollar General	0.57%	Staples / Consumer	−2.3%	−0.01%	Rural discount; the trade-down beneficiary.
59	MRVL	Marvell Technology	0.76%	AI / Tech	+224.5%	+1.71%	Custom AI silicon; the networking side of memory.
60	HAL	Halliburton	0.57%	Energy	+16.8%	+0.10%	Oilfield services: the pick-and-shovel on $100 crude.
61	SLB	Schlumberger	0.57%	Energy	+29.6%	+0.17%	International services leader.
62	BP	BP plc	0.57%	Energy	+38.1%	+0.22%	Cheapest major on the list, 4.4% yield.
63	OXY	Occidental	0.57%	Energy	+48.2%	+0.28%	Berkshire-backed Permian; higher beta to the barrel.
64	WPM	Wheaton PM	0.57%	Gold	+18.5%	+0.11%	Streaming royalty; no mine risk.
65	RGLD	Royal Gold	0.57%	Gold	+7.2%	+0.04%	Royalty company; the quiet compounder.
66	PNC	PNC Financial	0.76%	Financials	+7.5%	+0.06%	Regional bank; held for the 2.8% yield.
67	HWM	Howmet Aerospace	0.57%	Defense	+10.0%	+0.06%	Aerospace fasteners and engine parts.
68	BA	Boeing	0.57%	Defense	−12.3%	−0.07%	The recovery seat; sized for the risk.
69	ARM	Arm Holdings	0.57%	AI / Tech	+143.6%	+0.82%	Licensing royalty on every chip in the build-out.
70	DELL	Dell Technologies	0.57%	AI / Tech	+369.8%	+2.12%	Server assembler for the build-out; +366% YTD, sized accordingly.
71	URA	Uranium Miners ETF	0.57%	Power / Infra	−9.0%	−0.05%	Diversified uranium fund.
72	MP	MP Materials	0.38%	Power / Infra	−8.7%	−0.03%	Rare earths, the one domestic supplier.
73	UAL	United Airlines	0.57%	Industrials	−3.9%	−0.02%	Airline with pricing power; small and cyclical.
74	AVAV	AeroVironment	0.38%	Defense	−43.3%	−0.17%	Drones; counter-drone.
75	KTOS	Kratos Defense	0.38%	Defense	−44.2%	−0.17%	Drones and hypersonic targets; small and volatile.
76	HII	HII	0.38%	Defense	−21.2%	−0.08%	Shipbuilder; the Navy budget line.
77	PFE	Pfizer	0.57%	Healthcare	+19.4%	+0.11%	Held for the 6.2% yield; not a growth seat.
	TOTAL		99.50%

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Capital Wealth North Star Income · $1M · Core

The North Star core book at $1M: 49 names over a 14.4% short-Treasury reserve, 2.98% trailing yield. Every position carries an add, reinforce or hold on the current watch list; the reserve is the weight below the waterline that lets the equity book be held through a drawdown. Performance (current weights, Oct 9 close): YTD +19.3% · 1-yr +22.3%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SGOV	iShares 0-3M Treasury ETF	8.30%	Reserve	+2.8%	+0.24%	0–3 month bills. The letter’s reserve: a third at −8%, a third at −12%, a third the week of the vote.
2	USFR	WisdomTree Floating Rate Treasury	5.97%	Reserve	+3.0%	+0.18%	Floating-rate Treasuries reset with the bill rate; most Fed officials see at least one more increase.
3	XOM	ExxonMobil	2.52%	Energy	+43.2%	+1.09%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
4	CVX	Chevron	2.99%	Energy	+43.0%	+1.29%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
5	COP	ConocoPhillips	1.27%	Energy	+46.4%	+0.59%	Lowest-cost independent; the cleanest crude beta on the list.
6	WMB	Williams Companies	3.40%	Energy	+23.5%	+0.80%	Gas pipelines: fee-based, the power build-out’s fuel line.
7	KMI	Kinder Morgan	3.83%	Energy	+21.6%	+0.83%	Midstream fees, 3.8% yield, no oil price in the coupon.
8	XLE	Energy Select SPDR	2.56%	Energy	+48.4%	+1.25%	Sector fund carries the sleeve at the small tiers; single majors take over from $50K.
9	BP	BP plc	2.56%	Energy	+38.1%	+0.98%	Cheapest major on the list, 4.4% yield.
10	EOG	EOG Resources	0.86%	Energy	+44.6%	+0.39%	Permian free cash flow, low leverage.
11	LNG	Cheniere Energy	0.86%	Energy	+44.1%	+0.38%	U.S. LNG exporter while Middle Eastern routes stay under pressure.
12	OXY	Occidental	0.43%	Energy	+48.2%	+0.21%	Berkshire-backed Permian; higher beta to the barrel.
13	PG	Procter & Gamble	2.56%	Staples / Consumer	+7.9%	+0.20%	Pricing power; the sleeve the letter says earns its keep on the way down.
14	KO	Coca-Cola	2.56%	Staples / Consumer	+28.4%	+0.73%	Global staple; 2.3% yield.
15	PM	Philip Morris Intl	3.40%	Staples / Consumer	+28.7%	+0.98%	Smoke-free transition, 3% yield.
16	MO	Altria Group	3.40%	Staples / Consumer	+30.3%	+1.04%	6.1% yield; the income seat in staples.
17	WMT	Walmart	0.86%	Staples / Consumer	+0.6%	+0.01%	Scale retailer; the consumer’s trade-down destination.
18	COST	Costco	0.43%	Staples / Consumer	+10.3%	+0.04%	Membership compounder; trimmed after a −7% month.
19	ABBV	AbbVie	3.40%	Healthcare	+23.9%	+0.82%	Immunology plus a 2.6% yield.
20	JNJ	Johnson & Johnson	2.56%	Healthcare	+28.4%	+0.73%	Diversified; the sleeve’s ballast.
21	PFE	Pfizer	2.56%	Healthcare	+19.4%	+0.50%	Held for the 6.2% yield; not a growth seat.
22	AZN	AstraZeneca	1.27%	Healthcare	−12.5%	−0.16%	Oncology pipeline, 2% yield.
23	LLY	Eli Lilly	0.86%	Healthcare	+10.3%	+0.09%	GLP-1 franchise; trimmed from the tactical weight.
24	UNH	UnitedHealth Group	0.86%	Healthcare	+17.2%	+0.15%	Managed care at a recovered price.
25	JPM	JPMorgan	2.56%	Financials	+5.3%	+0.14%	Best-in-class bank; net interest margin widens with the hike.
26	BAC	Bank of America	1.70%	Financials	+0.4%	+0.01%	Rate-sensitive deposit franchise.
27	MS	Morgan Stanley	1.27%	Financials	+8.8%	+0.11%	Wealth management fee engine.
28	GS	Goldman Sachs	0.43%	Financials	+3.4%	+0.01%	Trading and advisory recovery.
29	CB	Chubb	0.86%	Financials	+10.3%	+0.09%	Underwriting discipline; pricing power in a hard market.
30	PNC	PNC Financial	2.13%	Financials	+7.5%	+0.16%	Regional bank; held for the 2.8% yield.
31	NEE	NextEra Energy	3.40%	Power / Infra	−1.5%	−0.05%	Regulated utility plus the largest renewables book; 2.9% yield.
32	GEV	GE Vernova	0.86%	Power / Infra	+54.0%	+0.47%	Grid builder: turbines, grid gear, nuclear services.
33	LMT	Lockheed Martin	2.13%	Defense	+7.3%	+0.16%	Prime; missiles and NATO demand. Sleeve is −11.6% on the month and the list still says reinforce.
34	RTX	RTX Corp	1.27%	Defense	+2.5%	+0.03%	Prime; engines and missiles.
35	GD	General Dynamics	0.86%	Defense	+0.2%	+0.00%	Prime; submarines and Gulfstream.
36	IAU	iShares Gold	2.13%	Gold	−2.8%	−0.06%	Permanent insurance, not a trade on one meeting.
37	GDX	Gold Miners ETF	0.43%	Gold	+4.1%	+0.02%	Miners: the same trade with more beta.
38	MSFT	Microsoft	1.27%	AI / Tech	+11.3%	+0.14%	Owned as a spender in the build-out rather than a supplier to it.
39	AAPL	Apple	0.86%	AI / Tech	+24.2%	+0.21%	Core position; the iPhone Duo is the first foldable with real share.
40	GOOGL	Alphabet	0.86%	AI / Tech	+12.6%	+0.11%	Search cash flow funds the TPU stack.
41	NVDA	NVIDIA	0.86%	AI / Tech	+23.2%	+0.20%	Held at weight, not added to; the spender-versus-supplier question is open.
42	AVGO	Broadcom	0.86%	AI / Tech	+5.0%	+0.04%	Custom silicon and networking; flat YTD after a 50% 2025.
43	TXN	Texas Instruments	1.27%	AI / Tech	+66.3%	+0.85%	Analog chips, 2.1% yield; the industrial side of semis.
44	CAT	Caterpillar	0.86%	Industrials	+40.6%	+0.35%	Machinery for the build-out and the mines.
45	ETN	Eaton	0.43%	Industrials	+36.0%	+0.16%	Electrical equipment for the grid and the data center.
46	VGK	Vanguard FTSE Europe ETF	1.70%	International	+5.0%	+0.09%	Europe fund; the cheap developed-market seat.
47	SCHD	Schwab US Div ETF house	5.11%	Dividend funds	+23.4%	+1.20%	House Dividends-book holding, not on the watch list: 100 quality payers, 3.0% yield.
48	JEPI	JPM Equity Premium house	4.26%	Dividend funds	+5.3%	+0.23%	House Dividends-book holding, not on the watch list: covered-call income, 8.0% yield, gives up upside.
49	BRK.B	Berkshire Hathaway	0.86%	Financials	+2.6%	+0.02%	Cash-rich quality; held.
	TOTAL		99.50%

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Capital Wealth North Star Faith-Based 200 · $200K · Screened Core

The North Star, run through the faith-based screen, at $200K: 40 names over a 10.0% sukuk reserve (SPSK), 1.58% trailing yield. Same sleeves and the same watch list as the North Star; every single stock passes the Musaffa (AAOIFI) screen and is not questionable on Zoya, funds are Shariah ETFs, and the weapons primes, banks, insurers and Treasury bills are out by construction. Reserve held at 10% for the aggressive risk profile. Principal first: how a RILA stands up to the faith test → Performance (current weights, Oct 9 close): YTD +32.5% · 1-yr +36.0%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SPSK	SP Funds Dow Jones Global Sukuk ETF	10.00%	Reserve	−2.2%	−0.22%	Sukuk fund in place of Treasury bills; the reserve of a screened book, held for the same three dates as the North Star’s.
2	SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	6.08%	Core	+19.4%	+1.19%	S&P 500 Shariah core; carries MSFT and GOOGL under the index board’s screen, the only way they enter this book.
3	HLAL	Wahed FTSE USA Shariah ETF	3.03%	Core	+22.7%	+0.69%	FTSE USA Shariah core; a second board’s screen beside SPUS.
4	XOM	ExxonMobil	3.54%	Energy	+43.2%	+1.54%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
5	CVX	Chevron	3.03%	Energy	+43.0%	+1.31%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
6	EOG	EOG Resources	2.53%	Energy	+44.6%	+1.13%	Low-debt shale producer; the add on the list.
7	TPL	Texas Pacific Land	2.53%	Energy	+26.2%	+0.67%	Permian royalties with no debt; the cleanest oil name on the screen.
8	SLB	SLB (Schlumberger)	1.77%	Energy	+29.6%	+0.53%	Oilfield services; the add on the list.
9	OXY	Occidental Petroleum	1.77%	Energy	+48.2%	+0.86%	Permian producer; passes the leverage screen where BP, LNG and the pipelines do not.
10	NVDA	NVIDIA	4.05%	AI / Tech	+23.2%	+0.95%	Held at weight, not added to; the spender-versus-supplier question is open.
11	AAPL	Apple	3.03%	AI / Tech	+24.2%	+0.74%	Core position; the iPhone Duo is the first foldable with real share.
12	AVGO	Broadcom	2.78%	AI / Tech	+5.0%	+0.14%	Custom silicon and networking; flat YTD after a 50% 2025.
13	TSM	Taiwan Semiconductor	2.78%	AI / Tech	+50.3%	+1.41%	The foundry everyone above depends on.
14	TSLA	Tesla	1.77%	AI / Tech	−14.9%	−0.27%	Reinforce on the list; passes both screens.
15	CRWD	CrowdStrike	1.52%	AI / Tech	+134.7%	+2.06%	Cyber platform; small after +18% on the week.
16	TXN	Texas Instruments	1.52%	AI / Tech	+66.3%	+1.01%	Analog chips, 2.1% yield; the industrial side of semis.
17	ARM	Arm Holdings	1.26%	AI / Tech	+143.6%	+1.82%	Licensing royalty on every chip in the build-out.
18	PANW	Palo Alto Networks	1.26%	AI / Tech	+127.4%	+1.61%	Cybersecurity platform; the screened seat beside CRWD.
19	MRVL	Marvell Technology	1.26%	AI / Tech	+224.5%	+2.84%	Custom AI silicon; the networking side of memory.
20	MU	Micron	1.01%	AI / Tech	+260.7%	+2.65%	Memory; the Sept. 30 print decides the next add.
21	ANET	Arista Networks	1.01%	AI / Tech	+65.4%	+0.66%	Cloud networking for the AI data center; house-held.
22	GEV	GE Vernova	2.78%	Power / Infra	+54.0%	+1.51%	Grid builder: turbines, grid gear, nuclear services.
23	PWR	Quanta Services	2.02%	Power / Infra	+67.4%	+1.37%	The contractor that builds the grid the data centers need.
24	VRT	Vertiv	1.77%	Power / Infra	+50.0%	+0.89%	Data-center power and cooling; the add on the list.
25	CCJ	Cameco	1.52%	Power / Infra	−3.8%	−0.06%	Uranium; the fuel behind the nuclear demand story.
26	MSI	Motorola Solutions	2.28%	Security & Aerospace	+16.8%	+0.39%	Public-safety radios and video; the security seat without a weapons line.
27	AME	AMETEK	1.52%	Security & Aerospace	+21.6%	+0.33%	Precision instruments and aerospace components; passes the screen.
28	PH	Parker-Hannifin	1.26%	Security & Aerospace	+10.2%	+0.13%	Motion and control; the aerospace seat that passes.
29	IAU	iShares Gold Trust	5.31%	Gold	−2.8%	−0.15%	Permanent insurance, not a trade on one meeting.
30	AEM	Agnico Eagle Mines	2.28%	Gold	+12.2%	+0.28%	Senior gold miner with a clean balance sheet; the one miner that passes.
31	LLY	Eli Lilly	2.78%	Healthcare	+10.3%	+0.29%	GLP-1 franchise; trimmed from the tactical weight.
32	JNJ	Johnson & Johnson	2.02%	Healthcare	+28.4%	+0.58%	Diversified; the sleeve’s ballast.
33	AZN	AstraZeneca	1.52%	Healthcare	−12.5%	−0.19%	Oncology pipeline, 2% yield.
34	MRK	Merck	1.77%	Healthcare	+41.2%	+0.73%	Keytruda franchise; passes the screen where ABBV does not.
35	PG	Procter & Gamble	2.78%	Staples / Consumer	+7.9%	+0.22%	Pricing power; the sleeve the letter says earns its keep on the way down.
36	KO	Coca-Cola	2.28%	Staples / Consumer	+28.4%	+0.65%	Global staple; 2.3% yield.
37	SPRE	SP Funds S&P Global REIT Sharia ETF	2.02%	Real Assets	−2.2%	−0.05%	Global REIT Shariah fund; real-asset income in place of the banks.
38	SPWO	SP Funds S&P World ex-US Sharia ETF	3.03%	International	+23.9%	+0.73%	World ex-US Shariah fund; the international seat in place of EWY and VGK.
39	ETN	Eaton	2.02%	Industrials	+36.0%	+0.73%	Electrical equipment for the grid and the data center.
40	CMI	Cummins	1.01%	Industrials	+3.6%	+0.04%	Engines and power generation; the hold on the list.
	TOTAL		99.50%

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Capital Wealth North Star Faith-Based 500 · $500K · Screened Core

The North Star, run through the faith-based screen, at $500K: 46 names over a 10.0% sukuk reserve (SPSK), 1.57% trailing yield. Same sleeves and the same watch list as the North Star; every single stock passes the Musaffa (AAOIFI) screen and is not questionable on Zoya, funds are Shariah ETFs, and the weapons primes, banks, insurers and Treasury bills are out by construction. Reserve held at 10% for the aggressive risk profile. Principal first: how a RILA stands up to the faith test → Performance (current weights, Oct 9 close): YTD +33.7% · 1-yr +37.8%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	SPSK	SP Funds Dow Jones Global Sukuk ETF	10.00%	Reserve	−2.2%	−0.22%	Sukuk fund in place of Treasury bills; the reserve of a screened book, held for the same three dates as the North Star’s.
2	SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	6.56%	Core	+19.4%	+1.28%	S&P 500 Shariah core; carries MSFT and GOOGL under the index board’s screen, the only way they enter this book.
3	HLAL	Wahed FTSE USA Shariah ETF	3.03%	Core	+22.7%	+0.69%	FTSE USA Shariah core; a second board’s screen beside SPUS.
4	XOM	ExxonMobil	3.28%	Energy	+43.2%	+1.42%	Integrated major; the structural inflation hedge, held at weight, not chased at $101 crude.
5	CVX	Chevron	3.03%	Energy	+43.0%	+1.31%	Integrated major; dividend and buyback machine while Hormuz stays a $16–20 shuttle.
6	EOG	EOG Resources	2.52%	Energy	+44.6%	+1.13%	Low-debt shale producer; the add on the list.
7	TPL	Texas Pacific Land	2.27%	Energy	+26.2%	+0.60%	Permian royalties with no debt; the cleanest oil name on the screen.
8	SLB	SLB (Schlumberger)	1.76%	Energy	+29.6%	+0.52%	Oilfield services; the add on the list.
9	OXY	Occidental Petroleum	1.51%	Energy	+48.2%	+0.73%	Permian producer; passes the leverage screen where BP, LNG and the pipelines do not.
10	HAL	Halliburton	1.26%	Energy	+16.8%	+0.21%	Oilfield services; the second seat.
11	NVDA	NVIDIA	3.78%	AI / Tech	+23.2%	+0.88%	Held at weight, not added to; the spender-versus-supplier question is open.
12	AAPL	Apple	2.77%	AI / Tech	+24.2%	+0.67%	Core position; the iPhone Duo is the first foldable with real share.
13	AVGO	Broadcom	2.52%	AI / Tech	+5.0%	+0.13%	Custom silicon and networking; flat YTD after a 50% 2025.
14	TSM	Taiwan Semiconductor	2.52%	AI / Tech	+50.3%	+1.27%	The foundry everyone above depends on.
15	TSLA	Tesla	1.51%	AI / Tech	−14.9%	−0.23%	Reinforce on the list; passes both screens.
16	CRWD	CrowdStrike	1.26%	AI / Tech	+134.7%	+1.71%	Cyber platform; small after +18% on the week.
17	TXN	Texas Instruments	1.26%	AI / Tech	+66.3%	+0.84%	Analog chips, 2.1% yield; the industrial side of semis.
18	ARM	Arm Holdings	1.01%	AI / Tech	+143.6%	+1.46%	Licensing royalty on every chip in the build-out.
19	PANW	Palo Alto Networks	1.01%	AI / Tech	+127.4%	+1.29%	Cybersecurity platform; the screened seat beside CRWD.
20	MRVL	Marvell Technology	1.01%	AI / Tech	+224.5%	+2.28%	Custom AI silicon; the networking side of memory.
21	MU	Micron	1.01%	AI / Tech	+260.7%	+2.65%	Memory; the Sept. 30 print decides the next add.
22	ANET	Arista Networks	1.01%	AI / Tech	+65.4%	+0.66%	Cloud networking for the AI data center; house-held.
23	SNOW	Snowflake	0.76%	AI / Tech	+68.2%	+0.52%	Cloud data platform; house-held.
24	GLW	Corning	0.76%	AI / Tech	+79.9%	+0.61%	Optical fiber for the data-center build; the add on the list.
25	GFS	GlobalFoundries	0.50%	AI / Tech	+38.7%	+0.19%	US foundry; the reinforce on the list.
26	GEV	GE Vernova	2.52%	Power / Infra	+54.0%	+1.37%	Grid builder: turbines, grid gear, nuclear services.
27	PWR	Quanta Services	1.76%	Power / Infra	+67.4%	+1.19%	The contractor that builds the grid the data centers need.
28	VRT	Vertiv	1.51%	Power / Infra	+50.0%	+0.76%	Data-center power and cooling; the add on the list.
29	CCJ	Cameco	1.26%	Power / Infra	−3.8%	−0.05%	Uranium; the fuel behind the nuclear demand story.
30	BE	Bloom Energy	1.01%	Power / Infra	+222.8%	+2.26%	Fuel cells for on-site data-center power; the add on the list.
31	MSI	Motorola Solutions	2.02%	Security & Aerospace	+16.8%	+0.34%	Public-safety radios and video; the security seat without a weapons line.
32	AME	AMETEK	1.51%	Security & Aerospace	+21.6%	+0.33%	Precision instruments and aerospace components; passes the screen.
33	PH	Parker-Hannifin	1.51%	Security & Aerospace	+10.2%	+0.15%	Motion and control; the aerospace seat that passes.
34	IAU	iShares Gold Trust	5.29%	Gold	−2.8%	−0.15%	Permanent insurance, not a trade on one meeting.
35	AEM	Agnico Eagle Mines	2.27%	Gold	+12.2%	+0.28%	Senior gold miner with a clean balance sheet; the one miner that passes.
36	LLY	Eli Lilly	2.52%	Healthcare	+10.3%	+0.26%	GLP-1 franchise; trimmed from the tactical weight.
37	JNJ	Johnson & Johnson	1.76%	Healthcare	+28.4%	+0.50%	Diversified; the sleeve’s ballast.
38	AZN	AstraZeneca	1.51%	Healthcare	−12.5%	−0.19%	Oncology pipeline, 2% yield.
39	MRK	Merck	1.26%	Healthcare	+41.2%	+0.52%	Keytruda franchise; passes the screen where ABBV does not.
40	GILD	Gilead Sciences	0.76%	Healthcare	+25.4%	+0.19%	HIV franchise; the second screened pharma seat.
41	PG	Procter & Gamble	2.77%	Staples / Consumer	+7.9%	+0.22%	Pricing power; the sleeve the letter says earns its keep on the way down.
42	KO	Coca-Cola	2.27%	Staples / Consumer	+28.4%	+0.65%	Global staple; 2.3% yield.
43	SPRE	SP Funds S&P Global REIT Sharia ETF	2.02%	Real Assets	−2.2%	−0.05%	Global REIT Shariah fund; real-asset income in place of the banks.
44	SPWO	SP Funds S&P World ex-US Sharia ETF	3.03%	International	+23.9%	+0.73%	World ex-US Shariah fund; the international seat in place of EWY and VGK.
45	ETN	Eaton	2.02%	Industrials	+36.0%	+0.73%	Electrical equipment for the grid and the data center.
46	CMI	Cummins	1.01%	Industrials	+3.6%	+0.04%	Engines and power generation; the hold on the list.
	TOTAL		99.50%

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Capital Wealth 403(b) North Star · Now · Through Nov. 3

The North Star inside a 403(b), through the vote: the same sleeves and the same 15% reserve as the North Star books, built from the Orion 403(b) menu. Fourteen mutual funds, every one open at Schwab, Matrix and Fidelity custody; weighted fund cost 0.36%. ETFs are restricted on the menu, so the reserve sits in short bond funds (VUSFX, VSBSX) in place of SGOV and USFR, and it spends on the North Star’s dates: a third at −8% from the Aug. 13 high (into VSEQX, the menu’s stand-in for the equal-weight RSP), a third at −12% (the power builders, VINAX and FSUTX), the last third the week of the vote. Performance (current weights, Oct 9 close): YTD +17.0% · 1-yr +20.0% · 5-yr annualized +14.7% · 2022 stress −2.9% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VUSFX	Vanguard Ultra-Short-Term Bond Admiral	9.00%	Reserve	+2.1%	+0.19%	The North Star’s bills in fund form: ETFs are restricted on this menu and no money-market fund is open at Matrix or Fidelity. Yields about 4.1%; fell 0.4% in 2022.
2	VSBSX	Vanguard Short-Term Treasury Index Admiral	6.00%	Reserve	+0.4%	+0.03%	The pure-Treasury half of the reserve. Spends in thirds on the North Star’s dates: −8%, −12%, the week of the vote.
3	FSENX	Fidelity Select Energy	14.00%	Energy	+52.0%	+7.31%	XOM, CVX, LNG, the refiners and midstream; tracks XLE at 0.98. Held, not chased.
4	VIGAX	Vanguard Growth Index Admiral	11.00%	AI / Tech	+13.5%	+1.49%	The platforms at 0.05%: NVDA, AAPL, MSFT, GOOGL, AMZN, AVGO, META.
5	FSPTX	Fidelity Select Technology	10.00%	AI / Tech	+46.4%	+4.67%	The chips: NVDA 23%, AVGO, MRVL, NXPI, WDC. Beat the growth index by about 7 points a year over 5 and 10 years.
6	FSDAX	Fidelity Select Defense & Aerospace	8.00%	Defense	−2.6%	−0.21%	The standing order: GE Aerospace, RTX, BA, HWM, GD. Up 6.8% in 2022.
7	VHCIX	Vanguard Health Care Index Admiral	9.00%	Healthcare	+12.0%	+1.09%	The midterm lean at 0.09%: LLY, JNJ, ABBV, MRK, UNH.
8	FFSIX	Fidelity Advisor Financials I	7.00%	Financials	+9.5%	+0.67%	Paid to lend: BAC, WFC, C, MS, CB. No financials index is open on the menu.
9	VCSAX	Vanguard Consumer Staples Index Admiral	6.00%	Staples	+8.9%	+0.54%	Pricing power: WMT, COST, KO, PG, PM.
10	VINAX	Vanguard Industrials Index Admiral	6.00%	Industrials / Power	+9.4%	+0.57%	CAT, GE, GEV, ETN at 0.09%: the machinery and the power builders.
11	FSUTX	Fidelity Select Utilities	5.00%	Power / Infra	−3.5%	−0.17%	NEE, CEG, VST, NRG: the grid’s bill. Beat the utility index over 5 and 10 years.
12	BGEIX	American Century Global Gold Investor	5.00%	Gold	+3.0%	+0.15%	Insurance. No bullion fund is open on the menu, and miners move about twice as much as gold, so the sleeve is 5% where the North Star holds 6%.
13	VEUSX	Vanguard European Stock Index Admiral	1.75%	International	+4.9%	+0.09%	VGK’s own Admiral share class (0.99 daily correlation).
14	VPADX	Vanguard Pacific Stock Index Admiral	1.75%	International	+27.0%	+0.48%	Samsung and SK Hynix are 12% of it: the closest thing to EWY on the menu.
	TOTAL		99.50%

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* Menu: Orion Fund Availability List, August 2026 (3,572 funds). Every fund in this book is Open at Schwab, Matrix and Fidelity custody with a $0 IRA minimum; ETFs are restricted on the menu. YTD and Contrib from the nightly bake. Returns are net of fund expenses and gross of the Orion admin fee and the advisory fee. Past performance does not guarantee future results.

Thesis — the North Star, fund for fund. Energy, the build-out, power, defense, gold, healthcare, financials and staples, each held through the cheapest fund on the menu that does the job; a 15% reserve waiting for its dates. Nothing new is bought until a date arrives.

Investment Policy Statement

Risk band: Tolerate −17% peak-to-trough (5-yr worst −16.3%)
Time horizon: 5+ years; the reserve is dated, the book is not
Liquidity need: 403(b) plan rules govern
Return objective: The S&P 500’s return with about three-quarters of its swings (beta 0.73)
Rebalancing trigger: The reserve’s three dates; quarterly otherwise
Excluded screens: ETFs (restricted on the menu), load share classes, any fund not open at all three custodians

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b), for the years of contributions ahead
Outside the 403(b): the same sleeves in an IRA or taxable account are the North Star books themselves

Effective Theme Exposure

Reserve · short Treasury paper (VUSFX + VSBSX)15%
Energy (FSENX)14%
AI / Tech (VIGAX + FSPTX)21%
Defense (FSDAX)8%
Healthcare (VHCIX)9%
Financials (FFSIX)7%
Staples (VCSAX)6%
Industrials / power builders (VINAX)6%
Power / Infra (FSUTX)5%
Gold (BGEIX)5%
International (VEUSX + VPADX)3.5%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) North Star · After the Vote · Nov. 4 to Dec. 31

The same book once the reserve is spent. The three thirds land where the North Star’s rule sends them: 5% to VSEQX (the average stock, the menu’s stand-in for RSP), 5% to the power builders (VINAX, FSUTX), and the last third to the build-out (VIGAX, FSPTX), the core of the destination books. Nothing else moves. Thirteen funds; weighted fund cost 0.39%. The twelve months after a midterm vote have been positive nineteen times out of nineteen since 1950; this is the seat for them. Performance (current weights, Oct 9 close): YTD +19.5% · 1-yr +22.4% · 5-yr annualized +16.4% · 2022 stress −5.6% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	FSENX	Fidelity Select Energy	14.00%	Energy	+52.0%	+7.31%	Unchanged. Held, not chased.
2	VIGAX	Vanguard Growth Index Admiral	13.50%	AI / Tech	+13.5%	+1.83%	Plus 2.5: half of the reserve’s last third, spent the week of the vote into the build-out.
3	FSPTX	Fidelity Select Technology	12.50%	AI / Tech	+46.4%	+5.83%	Plus 2.5: the other half of the last third.
4	VHCIX	Vanguard Health Care Index Admiral	9.00%	Healthcare	+12.0%	+1.09%	Unchanged.
5	VINAX	Vanguard Industrials Index Admiral	8.50%	Industrials / Power	+9.4%	+0.80%	Plus 2.5: half of the second third, the power builders (GEV, ETN, CAT).
6	FSDAX	Fidelity Select Defense & Aerospace	8.00%	Defense	−2.6%	−0.21%	Unchanged. The standing order.
7	FSUTX	Fidelity Select Utilities	7.50%	Power / Infra	−3.5%	−0.26%	Plus 2.5: the other half of the second third (VST, CEG, NRG).
8	FFSIX	Fidelity Advisor Financials I	7.00%	Financials	+9.5%	+0.67%	Unchanged.
9	VCSAX	Vanguard Consumer Staples Index Admiral	6.00%	Staples	+8.9%	+0.54%	Unchanged.
10	VSEQX	Vanguard Strategic Equity Investor	5.00%	The Average Stock	+19.0%	+0.95%	The first third: the menu’s stand-in for the equal-weight RSP (0.95 daily correlation). Beat the mid-cap index by about 4 points a year over five years.
11	BGEIX	American Century Global Gold Investor	5.00%	Gold	+3.0%	+0.15%	Unchanged. Permanent insurance.
12	VEUSX	Vanguard European Stock Index Admiral	1.75%	International	+4.9%	+0.09%	Unchanged.
13	VPADX	Vanguard Pacific Stock Index Admiral	1.75%	International	+27.0%	+0.48%	Unchanged.
	TOTAL		99.50%

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Thesis — defense won the fall; offense takes the year. The reserve was always November’s shopping money. If the −8% and −12% levels never print before the vote, those two thirds spend on the reversal signals (the result known, the volatility premium gone, breadth widening) and no later than Friday, Nov. 20.

Investment Policy Statement

Risk band: Tolerate −20% peak-to-trough (5-yr worst −19.4%)
Time horizon: 10+ years
Liquidity need: 403(b) plan rules govern
Return objective: The post-vote recovery at about nine-tenths of the market’s swings (beta 0.89)
Rebalancing trigger: Quarterly review; ±2% drift
Excluded screens: ETFs (restricted on the menu), load share classes, any fund not open at all three custodians

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b), for the years of contributions ahead
Outside the 403(b): the same sleeves in an IRA or taxable account are the North Star books themselves

Effective Theme Exposure

AI / Tech (VIGAX + FSPTX)26%
Energy (FSENX)14%
Healthcare (VHCIX)9%
Industrials / power builders (VINAX)8.5%
Defense (FSDAX)8%
Power / Infra (FSUTX)7.5%
Financials (FFSIX)7%
Staples (VCSAX)6%
The average stock (VSEQX)5%
Gold (BGEIX)5%
International (VEUSX + VPADX)3.5%
Cash buffer (settlement reserve)0.5%
Total100%

Capital Wealth 403(b) North Star · 2027 · Built on Written Criteria

The North Star 403(b) for the year after the vote, rebuilt on written criteria: every fund open at all three custodians; no load share classes; index funds at or under 0.10%; specialists at or under 0.75%, and only where they beat the cheapest index on the menu over five years without losing to it over ten; a ten-year record; $500M or more. Of 1,865 funds open everywhere, 69 equity funds clear every test. The weights follow the 2027 view: breadth (VSEQX 12%), the build-out, international value (SFNNX), energy trimmed to 9%, and 5% in short TIPS. Fifteen funds; weighted fund cost 0.31%. Performance (current weights, Oct 9 close): YTD +18.8% · 1-yr +22.0% · 5-yr annualized +14.9% · 2022 stress −8.5% vs S&P 500 −18.2%.

#	Ticker	Name	Weight	Sector / Theme	YTD	Contrib	Thesis
1	VIGAX	Vanguard Growth Index Admiral	16.50%	AI / Tech	+13.5%	+2.23%	The platforms at 0.05%. The largest single seat, because it is the cheapest.
2	VSEQX	Vanguard Strategic Equity Investor	12.00%	The Average Stock	+19.0%	+2.29%	Breadth: the typical stock is up 4% this year against 12% for the index. Five stars, 0.17%.
3	FSENX	Fidelity Select Energy	9.00%	Energy	+52.0%	+4.70%	Trimmed from 14: futures price December 2027 crude at $73.51 against $100 spot (Sept. 18).
4	VHCIX	Vanguard Health Care Index Admiral	9.00%	Healthcare	+12.0%	+1.09%	Cheap, and it has begun to turn. The index beats every active health fund on the menu over five years.
5	FSPTX	Fidelity Select Technology	6.00%	AI / Tech	+46.4%	+2.80%	The chips. New manager since July 2026: re-checked at every rebalance.
6	VINAX	Vanguard Industrials Index Admiral	6.00%	Industrials / Power	+9.4%	+0.57%	The machinery and the power builders at 0.09%.
7	FSDAX	Fidelity Select Defense & Aerospace	6.00%	Defense	−2.6%	−0.16%	The standing order, trimmed after a 29%-a-year three years.
8	SFNNX	Schwab Fundamental International Equity Index	6.00%	International	+18.5%	+1.12%	International value: beat the developed-markets index by 4 points a year over five years, 2 over ten. Five stars, 0.25%.
9	FFSIX	Fidelity Advisor Financials I	5.00%	Financials	+9.5%	+0.48%	Paid to lend with the 10-year near 5%.
10	FSUTX	Fidelity Select Utilities	5.00%	Power / Infra	−3.5%	−0.17%	The grid’s bill.
11	VTAPX	Vanguard Short-Term Inflation-Protected Securities Index Admiral	5.00%	Reserve	−0.6%	−0.03%	Short TIPS in place of bills: a reserve that keeps up with 3.4% inflation. Yields about 4.1%.
12	VCSAX	Vanguard Consumer Staples Index Admiral	4.00%	Staples	+8.9%	+0.36%	Pricing power, trimmed for the offense year.
13	VPADX	Vanguard Pacific Stock Index Admiral	4.00%	International	+27.0%	+1.09%	Samsung, SK Hynix, Tokyo Electron, Advantest: the Asian half of the build-out.
14	FDCPX	Fidelity Select Technology Hardware	3.00%	AI / Tech	+76.6%	+2.31%	The memory seat. Enters only if Micron’s Sept. 30 guidance confirms the shortage; if not, the 3% goes to FSPTX before January.
15	BGEIX	American Century Global Gold Investor	3.00%	Gold	+3.0%	+0.09%	Insurance, smaller in the offense year.
	TOTAL		99.50%

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Thesis — the lowest cost that earns its seat. The index where the index does the job; a specialist only where it has beaten that index. The case for 2027: the year after the vote, AI’s bill landing in power and metals, a zero equity premium over a 5% ten-year that rewards the cheaper average stock, and markets outside the dollar at lower multiples.

Investment Policy Statement

Risk band: Tolerate −20% peak-to-trough (5-yr worst −19.2%)
Time horizon: 10+ years
Liquidity need: 403(b) plan rules govern
Return objective: Beat the S&P 500 over a full cycle at a weighted fund cost at or under 0.35%
Rebalancing trigger: Quarterly; every fund re-checked against the menu and the criteria at each rebalance
Excluded screens: ETFs, load share classes, funds over 0.75%, funds under $500M, records under ten years

Tax Location Guidance

Best fit: Pre-tax 403(b)
Acceptable: Roth 403(b), for the years of contributions ahead
Outside the 403(b): the same sleeves in an IRA or taxable account are the North Star books themselves

Effective Theme Exposure

AI / Tech (VIGAX + FSPTX + FDCPX)25.5%
The average stock (VSEQX)12%
International (SFNNX + VPADX)10%
Energy (FSENX)9%
Healthcare (VHCIX)9%
Industrials / power builders (VINAX)6%
Defense (FSDAX)6%
Financials (FFSIX)5%
Power / Infra (FSUTX)5%
Reserve · short TIPS (VTAPX)5%
Staples (VCSAX)4%
Gold (BGEIX)3%
Cash buffer (settlement reserve)0.5%
Total100%

Model performance is hypothetical, calculated from daily closing prices of current holdings at target weights, indexed from a common start date. It does not reflect fees, taxes, or actual client trading. Past performance does not guarantee future results. Holdings and weights change; the client portal carries the version of record for any account.