Equities
Index core, factor tilts, single names on request.
REF#020Instrument catalog
Six objects,one label schema.
Every instrument this desk will place on your behalf, listed with its category, its cost and its constraint. If an instrument is not on this page, the desk does not use it.
The catalog in four figures
Lowest expense ratio
The S&P 500 index core, REF#002. Held since 2011.
Positions in the model
Published in full on the home page, with weights.
Cap on digital assets
Bitcoin and Ether, spot trusts, cold storage.
All-in advisory fee
No load, no commission, no performance skim.
EquitiesCovered callsProtective putsSpot BitcoinSpot EtherTreasuriesCorporatesTexas municipalsLaddered maturitiesQuarterly rebalance
REF#013The instruments
Open a drawer.
Each entry opens onto its facts. Nothing here is a product the desk is paid to sell — the desk is paid only by you.
S&P 500 IndexEquity, broadREF#002
The core position. Held continuously since the desk opened; rebalanced quarterly, never traded on a view. Where a client holds concentrated stock elsewhere, this weight comes down rather than the concentration going up.
- Expense ratio
- 0.03%
- Held since
- 2011
- Model weight
- 18.0%
Covered callsOptions, incomeREF#013A
Written only against stock already in the account, at strikes the client agrees to sell at. Premium is booked as income; assignment is treated as a planned sale, not an accident.
- Written against
- Held stock only
- Naked positions
- None
- Typical tenor
- 30–45 days
Protective putsOptions, hedgeREF#013B
For employees holding a single company's stock: a floor under a position that cannot yet be sold. The cost is quoted in dollars before anything is placed.
- Used for
- Concentrated stock
- Cost
- Quoted before entry
- Roll policy
- Client-approved
Spot Bitcoin and EtherDigitalREF#013C
Held through regulated spot trusts, not on an exchange account. Capped at five percent of the model. Volatility is published on the rate table alongside every other instrument.
- Vehicle
- Spot trusts
- Custody
- Cold storage
- Model cap
- 5.0%
Treasuries and corporatesFixed incomeREF#013D
A ladder, not a fund of a fund. Rungs are bought at issue where possible and held to maturity, so the yield a client is quoted is the yield they receive.
- Ladder
- 3 months – 10 years
- Credit floor
- Investment grade
- Model weight
- 30.0%
Texas municipalsFixed income, taxREF#013E
For clients in the top federal bracket. Bought in the primary market when a Texas issue prices, held to maturity, never flipped for a spread.
- Tax status
- Federally exempt
- Minimum lot
- $25,000
- Held to
- Maturity
REF#004Custody · constraint
Nothing here is held on trust alone.
A third-party custodian holds every account in your name. The desk has trading authority and no withdrawal authority. Digital assets sit in cold storage; the books are audited by PwC once a year.
How the desk is constrained — REF#015REF#006Four categories
One desk for all four.
Yields shown are indicative and update Tuesdays. They are facts about the market, not promises about your account.
Options
Covered calls and protective puts against stock you already hold. No naked positions.
Crypto
Bitcoin and Ether via spot trusts. Cold-storage custody, capped at 5% of the model.
Fixed income
Treasuries, investment-grade corporates, Texas municipals. Laddered.
Treasury, 10-year4.32%
Corporate, AAA5.11%
Municipal, Texas3.64%
S&P 500, dividend1.28%
Bitcoin, 30-day vol2.80%
Money market4.05%
Minimum $50,000 · fee 0.85%
Bring a statement. Twenty minutes is enough to tell you whether this desk fits.
Call the desk
+1 (325) 632-7837Answered around the clock. Mon–Fri, 8:30–17:30 CT reaches the desk directly.