Canvas Wealth Advisors, LLC

Canvas Wealth Advisors’ $588 million book is a growth-and-momentum mandate with a distinctive heavyweight: Custom Truck One Source (CTOS) is the single largest position at $46 million and 7.8% of assets. In the first quarter, CTOS produced a $5.5 million unrealized gain even though the fund reduced its share count slightly — the stock rallied hard enough that a trim still left the position materially more valuable. That is the kind of win that defines a quarter for a concentrated growth book.

Around that anchor, the fund rotated away from passive beta and toward its preferred individual names. The iShares Core S&P 500 ETF (IVV) — worth $20 million at year-end — was reduced by $10.4 million to $9.7 million, a 49% haircut that makes it no longer a core holding. Dimensional US Core Equity (DFUS) and iShares Growth (IUSG) were also cut. In their place, the fund built existing stock positions: Amazon’s share count rose 25%, Palantir’s by 4% to $17.6 million, Tesla’s by 4%, Uber’s by 5%, and CrowdStrike’s by 42%. The new Amazon and CrowdStrike additions were the largest dollar-wise.