eCIO, Inc.

eCIO, Inc. is a wealth-management firm allocating client money, specialised in healthcare (69% of the long book), running a $227.6M US long book across 42 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHARES CORE U.S. AGGREGATE, SCHWAB US DVD EQUITY ETF, SCHWAB INTL EQUITY ETF, VANGUARD SHORT-TERM BOND ETF, VANGUARD MORTGAGE-BACKED SEC.

Over the last 5 quarters its long book ran on average 2.4pp per quarter behind the S&P 500, beating the index in 1 of 5 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.