Mag 7, Actively Managed

Every one of the Magnificent Seven is down over the past month, so the whole group looks a bit tired short-term — that's why we're keeping about 17% in cash rather than fully investing (equal-weighting would put 100% to work with no buffer). But the 1-month dip splits the group into two very different camps once you look further back. GOOGL and AAPL show genuinely strong 3-month (+21%, +21%) and 6-month (+15%, +13%) trends with only mild recent pullbacks — that looks like a pause in an uptrend, not a reversal, so we overweight them at 30% and 28% (versus 14.3% each under equal-weight), just under the 35% cap. AMZN (15%) and NVDA (10%) get smaller but real allocations: both have solid 3-month gains (+15%, +11%) though NVDA's sharper 1-month drop (-12%) earns it a lighter weight than AMZN. MSFT, META, and TSLA are cut to zero — all three are negative over 6 months (-20%, -12%, -13%) and show no offsetting recent strength, so unlike a simple equal-weight approach we see no reason to hold laggards that are in confirmed downtrends. Net effect: concentrated in the four names with real intermediate-term momentum, a meaningful cash cushion for the group-wide short-term weakness, and zero exposure to the three names whose trends look broken.

I am tilting toward the strongest multi-horizon momentum and away from recent and longer-term laggards versus an equal-weight baseline (~14.3% each). AAPL (+20.8% 3m, +13.2% 6m) and GOOGL (+21.1% 3m, +14.8% 6m) show the best combined 3–6 month strength despite modest 1m dips, so I overweight them to 25% each. AMZN (+15.2% 3m, +4.4% 6m) is solid but less dominant, so I keep it near equal-weight at 14%. NVDA (+11.0% 3m, +4.0% 6m) has positive medium-term momentum but a sharper 1m pullback (-12.5%), so I include it at an underweight 10%. I exclude MSFT (-19.5% 6m, -11.5% 1m), META (-12.3% 6m), and TSLA (-13.4% 6m) entirely versus equal-weight to avoid names with negative longer-term momentum and weak recent tape. Because all seven have negative 1m returns, I hold 26% cash for risk control and to redeploy if breadth improves. No position exceeds 35%, and the portfolio remains long-only with no leverage.