WIT, LLC

WIT LLC's March 2026 13F is a rarity in the 13F Insight coverage universe: a $5.30 billion, 22-position public-equity portfolio that contains no individual stocks at all. Every holding is an ETF or an institutional index fund. The whaleScore of 81.25 reflects not concentrated single-name risk but the portfolio's structural tilt toward emerging-markets and international-beta exposure that amplifies broadmarket moves — VWO (Vanguard FTSE Emerging Markets) at $2.15 billion (40.6% of assets) and IEMG (iShares Core MSCI Emerging Markets) at $1.13 billion (21.4%) together account for 62% of the entire public portfolio, a level of emerging-markets concentration that dramatically increases macro sensitivity relative to a globally diversified portfolio. The Q1 2026 behavior was directional and policy-motivated: the portfolio reduced VWO (emerging markets) by 3.1% in shares, cutting $58 million of value; reduced VOO (U.S. large-cap S&P 500) by 12.4% in shares, shedding $39.7 million; reduced VEA (developed-markets ex-US) by 8.6%, trimming $29.1 million; and reduced IEMG (emerging-markets IEMG) by 0.7% in shares but GAINED $33.2 million in value as IEMG's price rose in Q1. Against this equity-reduction backdrop, the fund added aggressively to fixed-income sleeves: Vanguard Short-Term Bond ETF (BSV) was increased by 78.9% in shares, deploying $69 million in new capital to take the position from $88 million to $157 million; iShares ESG Aware MSCI EM ETF (ESGE) was increased by 12.6% share count for $32.4 million more; iShares 3-7 Year Treasury Bond ETF (IEI) was increased 8.4% share-count for $19.2 million; and Vanguard Intermediate Bond ETF (BIV) was increased 9.9% in shares for $5.4 million more. Two brand-new positions were opened: Vanguard Institutional Broad Market Index (VBIL, institutional total-U.S.-market) at $200 million and Vanguard Short-Term Treasury ETF (VGSH) at $69.6 million — the first broad U.S. allocation the portfolio has held that is not channeled through a separate Emerging-Markets or Developed-Markets wrapper, and the first absolute-fixed-income position that is not a total-return bond fund. The aggregate effect of these trades is a clear macro shift: WIT LLC moved from an overweight-to-emerging-and-international-beta equity structure toward a more neutral global-mix with a meaningful newly-added fixed-income duration overlay at the short-to-mid end of the curve. Two iShares ESG funds (ESGD and ESGU) — the developed-markets and U.S. ESG wrappers — were added at relatively tiny size ($1.8M and $310K), suggesting the investment committee is identifying ESG as a new sleeve to explore but has not yet committed meaningful capital. The Ishares Bitcoin Trust (IBIT) at $3.1 million was down $910K from its December 2025 allocation — a small reduction that does not constitute elimination but indicates mild discomfort with the portfolio's existing crypto-Bitcoin exposure at a time when Bitcoin's price was declining. The portfolio's sector breakdown — ETF 96.2%, Unknown 3.8%, Financial Services 0.06% (IBIT) — is the cleanest possible signal that this account is being managed by an investment committee with an explicit passive-ETF mandate and no active manager overlay, or that the 13F is being used instrumentally by a fund-of-funds or Separately Managed Account (SMA) wrapper that holds ETFs for tax-efficiency or compliance reasons.