Name: WIT, LLC 13F Holdings
Creator: 13F Insight

AI Analysis · Q2 2026

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.

The $300M AUM increase from $4.99 billion (Q4 2025) to $5.30 billion (Q1 2026) is a 6% net-inflow period for the portfolio: new external capital came into the account during Q1 and was deployed across the fixed-income sleeves and the U.S.-broad-market sleeve. The price-driven value changes within the existing positions did most of the work: VWO and IEMG combined declined $44 million in value due to emerging-markets currency depreciation and equity weakness in China and Brazil; VEA, VOO, EFA, and EEM collectively declined modestly; and the fixed-income ETFs (BSV, IEI, BIV) produced positive total-return as bond yields declined. The $300M inflow coincided with the fund's fixed-income build: the $69M, $19M, and $5.4M increases into BSV, IEI, and BIV combined for approximately $93M of bond-ETF purchases, the $200M VBIL and $70M VGSH additions for $270M of new broad-market and short-Treasury purchases, and $64.7M of net additions to the ESG and emerging-markets sleeves — a total of approximately $427M in new capital deployed, much of it the incoming $300M plus approximately $127M in crystallized stock-picking gains elsewhere in the portfolio.

VWO (Vanguard FTSE Emerging Markets) at $2.15 billion — VWO is the largest and one of the oldest emerging-markets ETFs, tracking the FTSE Emerging Markets All Cap China A Inclusion Index and investing in large-, mid-, and small-cap companies across approximately 20 emerging-market economies (China, India, Brazil, South Korea, Taiwan, Saudi Arabia, South Africa, Mexico, Indonesia, Thailand, UAE, and others). VWO's top country weightings are typically China (approximately 40%), India (15-20%), Brazil (10-15%), and Taiwan (10-15%), which means the fund is simultaneously exposed to idiosyncratic sovereign-credit risk, regulatory risk, currency risk (RMB, INR, BRL, KRW), and emerging-market equity-market volatility. WIT LLC's VWO position — 39.8 million shares — was reduced by 1.29 million shares during Q1, trimming approximately $58 million in a quarter when emerging markets broadly underperformed developed markets by approximately 6-10% as the dollar strengthened and as Chinese stimulus disappointment weighed on A-share markets. The reduction to 40.6% of the portfolio (from 44.3%) is a risk-management discipline: the committee is reducing its single-largest macro bet as a hedge against further EM weakness driven by either a strengthening USD (which makes USD-denominated EM debt more expensive to service) or a Chinese-growth slowdown.

Quarter at a glance — Q2 2026

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