CORNERSTONE PARTNERS CAPITAL MANAGEMENT, LLC

CORNERSTONE PARTNERS CAPITAL MANAGEMENT, LLC is a wealth-management firm allocating client money, specialised in technology (71% of the long book), running a $40.3M US long book across 7 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: STATE STREET SPDR S&P GLOBAL, ISHARES CORE US REIT ETF, ISHARES CORE S&P 500 ETF, ISHARES CORE MSCI EAFE ETF, ISHARES CORE MSCI EMERGING.

Over the last 9 quarters its long book ran on average 0.7pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.