MARQUETTE ASSOCIATES, INC.

MARQUETTE ASSOCIATES, INC. is a wealth-management firm allocating client money, running a $91.9M US long book across 25 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ISHARES CORE MSCI EAFE ETF, SS SPDR S&P 500 ETF TRUST-US, NEUBERGER OPTION STRATEGY ET, VANGUARD EXTENDED MARKET ETF, ISHARES CORE S&P 500 ETF.

Over the last 9 quarters its long book ran on average 0.9pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.