Gunpowder Capital Management, LLC dba Oliver Wealth Management

The pattern is immediately distinctive. The portfolio's seven largest positions by value are all vehicles for accessing the Dimensional factor framework: DFAC (U.S. Core Equity 2, $10.6M), DCOR (U.S. Core Equity 1, $8.7M), DFIC (International Core Equity 2, $4.8M), DFEM (Emerging Markets Core 2, $2.4M), DFAI (International Core Market, $1.3M), and DFAE (Emerging Core Market, $654K). Together those six names represent roughly 24% of the entire $128M book before the satellite sleeve is counted. Adding SPY, QQQ, and MDY — the traditional market-cap-weighted benchmarks — and the ETF core sits at approximately 44% of assets with a tilt toward the small/value and international factors that Dimensional was built to capture.

The Equity Satellite