West Virginia University Foundation, Inc

West Virginia University Foundation, Inc is a wealth-management firm allocating client money, running a $1.64B US long book across 6 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: VANGUARD S&P 500 ETF, VANGUARD TOTAL STOCK MKT ETF, VANGUARD FTSE DEVELOPED ETF, VANGUARD FTSE EMERGING MARKE, ISHARES 1-3 YEAR TREASURY BO.

Over the last 5 quarters its long book ran on average 0pp per quarter behind the S&P 500, beating the index in 3 of 5 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.