EQUITY PORTFOLIOS

  • Equity Positions: 25-35 individual common stocks

  • Size at Purchase: 3-4% of equity allocation

  • Risk Control: position sizes limit: 8% of equity value of a portfolio

  • Stress Tested: portfolios reviewed to ensure macro risks are not exacerbated, or being overly influenced, by holdings

  • Industry Sectors: portfolios diversified across industries (see below), active concentrations deviate from benchmarks

EquityMix_Q3-18.png

FIXED INCOME PORTFOLIOS

  • 5-10 Bond Exchange Traded Funds (ETFs)

  • Passively Managed

  • High Credit Quality

  • Duration risk balanced against expectations for inflation

FixedIncome_Q3-18.png

As of 09/30/18