Key Holdings
The portfolio is dominated by ETFs, with the top three positions accounting for nearly 35% of the total assets.
- DFUS (Dimensional US Core Equity 2 ETF): This is the largest holding at $107.84 million (15.42%). Dimensional ETFs typically follow a "smart beta" or factor-investing approach, focusing on profitability and size.
- iShares Trust (Unnamed): The second largest position is an iShares Trust holding valued at $68.85 million (9.84%). While the specific ticker was not listed in the provided data, this represents a major allocation to the iShares suite.
- SPDR Index Shares (Unnamed): The third position, valued at $65.68 million (9.39%), represents another large allocation to broad indexing, likely tracking the S&P 500 or total market.
- Individual Equities: Among individual stocks, Apple Inc. (AAPL) stands out as the 12th largest holding ($19.31M), comprising 2.76% of the portfolio. This is the only individual stock to break the top 12, highlighting the firm's preference for fund-based exposure over single-stock selection, though they do maintain positions in major tech names like Nvidia, Google, and Microsoft in smaller quantities.
Sector Allocation
The portfolio exhibits a distinct "fund-of-funds" structure, with the "ETF" sector comprising approximately 62.7% of the total value ($438.69M). This suggests the firm delegates stock selection to underlying fund managers rather than picking individual securities directly.
- Technology: Direct technology exposure totals $27.56 million (3.94%), with positions in AAPL, GOOG, NVDA, and MSFT. However, the true technology exposure is likely much higher when accounting for the tech-heavy weightings within the top ETF holdings (such as SPY or IVV).
- Financial Services: Accounts for $7.02 million (1.00%), including Berkshire Hathaway and Mastercard.
- Communication Services & Consumer Cyclical: These sectors represent $5.75 million and $3.37 million, respectively.
- Unknown: A notable portion of the portfolio ($181.84M or 26.0%) is labeled "Unknown." This likely represents ETFs or trusts where the specific sector classification was not immediately available in the data breakdown, but given the prevalence of broad market ETFs, these likely span across all major sectors.