Verger Capital Management LLC

Fund of Funds

Verger Capital Management LLC is a Fund of Funds based in Winston-salem, NC led by James Joseph Dunn, reporting $2.9B in AUM as of Q3 2025 with 94% ETF concentration, 98% concentrated in top 10 holdings, and 25% allocation to ACWI.

CEOJames Joseph Dunn

Portfolio Value: $308.1M
Positions: 14
Top Holding: ACWI at 24.6%
Last Reported: Q3 2025

Address751 W. Fourth St., Suite 410, Winston-salem, NC, 27101, United States

Top Holdings

Largest long holdings in Verger Capital Management LLC's portfolio (97.9% of total portfolio)

See all holdings

GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares MSCI ACWI ACWI	ETF ETF	$75.8M	24.60%	+$23.6M Bought	— 548.3K shares	Q3 2018 Held for 7y 2m
2 iShares Core U.S. Aggregate Bond AGG	ETF ETF	$61.1M	19.82%	+$17.5M Bought	— 609.0K shares	Q4 2015 Held for 9y 11m
3 SPDR S&P 500 ETF Trust SPY	ETF ETF	$40.1M	13.00%	-$2.4M Sold	— 60.1K shares	Q2 2016 Held for 9y 5m
4 iShares Core S&P 500 ETF IVV	ETF ETF	$31.1M	10.08%	+$93.0K Bought	— 46.4K shares	Q4 2014 Held for 10y 11m
5 iShares MSCI EAFE EFA	ETF ETF	$27.1M	8.79%	+$897.3K Bought	— 290.1K shares	Q4 2014 Held for 10y 11m
6 IXC iShares Global Energy IXC	ETF ETF	$21.4M	6.93%	+$2.2M Bought	— 511.5K shares	Q3 2019 Held for 6y 2m
7 IAU iShares Gold Trust IAU	Unknown Unknown	$18.8M	6.09%	+$1.6M Bought	— 257.7K shares	Q4 2022 Held for 2y 11m
8 iShares MSCI Emerging Markets EEM	ETF ETF	$12.8M	4.17%	—	— 240.4K shares	Q4 2014 Held for 10y 11m
9 iShares TIPS Bond TIP	ETF ETF	$11.1M	3.60%	-$7.8K Sold	— 99.8K shares	Q4 2016 Held for 8y 11m
10 iShares MSCI Japan EWJ	ETF ETF	$2.6M	0.85%	-$2.4M Sold	— 32.7K shares	Q3 2023 Held for 2y 2m

See all holdings

GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Verger Capital Management LLC's latest filing

See all changes

GthenC

Market Value

$308.1M

Prior: $254.1M

Q/Q Change

+21.24%

+$54.0M

Net Flows % of MV

+12.19%

Turnover Ratio

9.59%

New Purchases

1 stocks

$1.6M

Added To

7 stocks

+$46.7M

Sold Out Of

1 stocks

$5.8M

Reduced Holdings

5 stocks

-$5.0M

Increased Positions

Position	Shares Δ	Change
1 Invesco S&P 500 Equal Weight ETF RSP	New	0 → 8.6K +$1.6M
2 VanEck Gold Miners GDX	+49.52%	22.1K → 33.1K +$837.3K
3 iShares MSCI ACWI ACWI	+45.28%	377.4K → 548.3K +$23.6M
4 iShares Core U.S. Aggregate Bond AGG	+40.05%	434.9K → 609.0K +$17.5M
5 IXC iShares Global Energy IXC	+11.58%	458.4K → 511.5K +$2.2M

Decreased Positions

Position	Shares Δ	Change
1 iShares Russell 2000 IWM	Sold	26.7K → 0 −$5.8M
2 iShares MSCI Japan EWJ	-48.14%	63.1K → 32.7K −$2.4M
3 iShares U.S. Technology IYW	-15.0%	2.9K → 2.4K −$84.4K
4 SPDR S&P 500 ETF Trust SPY	-5.64%	63.7K → 60.1K −$2.4M
5 iShares 3-7 Year Treasury Bond IEI	-4.68%	15.1K → 14.4K −$84.3K