A Black-owned financial institution that preserves Black wealth.
NBA players already have enough investable capital to build an asset manager of their own. We're building it.
Use the portfolio you already own to seed the fund. Own the institution behind it.
Eligible investors can contribute appreciated public equities without selling them first. Those portfolios can seed a low-cost U.S. equity ETF at meaningful scale, while the asset manager behind it is built to be owned by players themselves.
Move the assets you already own.
Contribute eligible appreciated public equities to the ETF through a qualifying Section 351 exchange instead of selling them first.
Get the core portfolio you actually want.
Receive shares in a low-cost, diversified U.S. equity ETF built for long-term wealth preservation and broad market-like exposure.
Build the institution.
The founding portfolios are intended to launch a multi-billion-dollar first fund inside an asset manager owned by players.
Change your portfolio without getting a tax bill.
Our first product is a U.S. equity ETF for investors who already own appreciated public securities and want to move toward diversified, market-like exposure without selling those assets first.
In a qualifying Section 351 transaction, capital gain generally is not recognized at contribution. The existing tax basis carries forward, so the tax is deferred rather than eliminated.$6M unrealized gains
30% illustrative tax rate
Some of your money should be boring.
Venture capital, private equity, and real estate can be fun and exciting. The core of your wealth does not need to be exciting. Its job is to reliably compound and avoid tax drag.
How high net worth investors construct their portfolios
The boring part is the largest part.
Wealthy investors can own private companies, real estate, venture funds, and other alternatives without asking those assets to do the job of the core. Public equities remain the largest share of the investable portfolio in this 2026 high net worth survey.
Keep more of the core working for you.
At a 0.25% target expense ratio, $1 million invested costs $2,500 per year.
The goal is simple: keep the core low-cost while building the Black-owned institution behind the fund.
See what it costs to change your portfolio.
Selling can create a tax bill before the new portfolio earns a dollar. Start with that cost. Then, if you want, compare the long-term return you expect from what you own today.
Start with the public-equity portfolio you already own.
Section 351 is not a way to drop one giant winner into a diversified fund. The contributed portfolio needs to meet real eligibility and diversification requirements before the transaction.
The portfolio has to already be diversified.
Start with your portfolio. We'll figure out what can move.
Send the holdings and tax lots. The first step is identifying which positions can qualify, how much of the portfolio can be contributed, and what should stay behind. You do not need to work through the Section 351 rules yourself.
Review
We review the portfolio and tax lots to see which positions are candidates for the conversion.
Confirm
Tax and fund professionals confirm diversification, control, and other transaction requirements.
Document
The required investor, custodian, and transaction paperwork is completed.
Transfer
Eligible securities move into the ETF as part of the coordinated launch transaction.
Receive ETF shares
You receive ETF shares of corresponding value, with the existing basis and holding period carried forward in a qualifying exchange.
Taxes are a cost. Sophisticated portfolios manage them like one.
The goal is not to avoid taxes forever. It is to avoid creating a large taxable event just to improve the portfolio when the law provides a legitimate way to defer recognition.
Keeping deferred tax capital invested means more capital can remain compounding until the tax is ultimately due.
That is basic wealth preservation.
Three ways to change a taxable stock portfolio.
The right tool depends on the portfolio. A 351 ETF is strongest when the portfolio is already diversified and the goal is a liquid, market-like public-equity core.
Sell and reinvest
Exchange fund
351 ETF conversion
Common questions.
Does Section 351 eliminate capital-gains tax?
No. In a qualifying transaction, gain generally is not recognized when the securities are contributed. The existing basis and holding period carry into the ETF shares. The gain is deferred, not erased.
Why not just keep the existing portfolio?
That may be perfectly rational if the investor still wants the portfolio. The transition is most relevant when the investor wants a different long-term public-equity allocation but the embedded gains make selling costly.
Can a concentrated single-stock position qualify?
Usually not by itself. The contribution needs to satisfy the applicable diversification rules. A 351 ETF conversion should not be confused with an exchange fund designed specifically around concentrated-stock diversification.
What happens to the investor's cost basis?
In a qualifying transaction, the basis and holding period of the contributed assets generally carry forward to the ETF shares received. The investor has changed the investment vehicle without receiving a fresh tax basis.
What is the ETF trying to outperform?
Nothing. The concept is deliberately not an alpha product. The intended destination is diversified U.S. equity exposure designed to behave broadly like the S&P 500 over time.
What about the investor's existing advisor or custodian?
Final workflow will depend on the launch structure, custody arrangements, and participating firms. The objective is to make the conversion compatible with the player's broader advisory relationships rather than require a wholesale replacement of them.
Who is this designed for?
The first product is being designed for investors with meaningful taxable public-equity portfolios who want a simpler, diversified long-term core and whose portfolios can satisfy the requirements of a qualifying Section 351 contribution.
Players, advisors, and representatives can reach us directly.
Current and former players, their advisors and representatives, and direct introductions.