First Ascent Asset Management, LLC

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $892M
Positions: 53
Quarter ended: December 31, 2023
Filed: February 05, 2024

Reported portfolio value by quarter (17 quarters reported)

$892M $140M

Q4 19 Q4 20 Q4 21 Q4 22 Q4 23

$163M in Q4 2019 → $892M now. Hover for any quarter.

Holdings

As reported for the quarter ended December 31, 2023. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
VI Vanguard Index Fds	12.8%	Added 6.6%	261,391	$114M
VI Vanguard Index Fds	10.0%	Added 3.5%	375,317	$89M
VM Vanguard Mun Bd Fds	9.0%	Added 11%	1,576,165	$80.5M
DE Dimensional ETF Trust	9.0%	Trimmed 0.2%	2,750,596	$80.4M
IT Ishares Tr	7.2%	Added 4.4%	1,395,540	$64.3M
SI SPDR Index Shs Fds	6.8%	Added 13%	1,785,634	$60.7M
VS Vanguard Star Fds	6.7%	Added 6.9%	1,035,209	$60M
DE Dimensional ETF Trust	4.9%	Trimmed 4.0%	901,027	$43.7M
DE Dimensional ETF Trust	4.0%	Added 2.5%	1,457,609	$35.6M
VC Vanguard Charlotte Fds	3.0%	Added 5.0%	538,573	$26.6M
VI Vanguard Index Fds	2.6%	Added 11%	141,092	$23.2M
SI SPDR Index Shs Fds	2.3%	Added 12%	571,790	$20.2M
IT Ishares Tr	2.2%	Added 7.8%	386,047	$19.2M
GS Goldman Sachs ETF Tr	2.0%	Added 3.3%	194,565	$18.3M
DE Dimensional ETF Trust	1.9%	Added 7.0%	653,239	$16.7M
IT Ishares Tr	1.6%	Added 21%	170,114	$14.4M
VI Vanguard Index Fds	1.0%	Added 1.7%	49,223	$8.86M
IT Ishares Tr	0.9%	Added 29%	110,203	$8.32M
GS Goldman Sachs ETF Tr	0.9%	Added 3.9%	252,509	$8.25M
IT Ishares Tr	0.9%	Added 2.2%	124,191	$8.06M
AC American Centy ETF Tr	0.8%	Added 4.8%	107,414	$6.71M
VI Vanguard Intl Equity Index F	0.7%	Added 7.2%	64,579	$6.64M
SS SPDR Ser Tr	0.7%	Added 9.3%	131,931	$6.15M
IT Ishares Tr	0.6%	Added 4.5%	95,441	$5.61M
IT Ishares Tr	0.6%	Added 13%	52,622	$5.54M
IT Ishares Tr	0.6%	Added 7.4%	79,461	$5.49M
SS SPDR Ser Tr	0.5%	Added 7.8%	75,208	$4.89M
GS Goldman Sachs ETF Tr	0.5%	Trimmed 0.7%	105,319	$4.41M
DE Dimensional ETF Trust	0.5%	Trimmed 0.7%	103,566	$4.39M
IT Ishares Tr	0.5%	Added 19%	99,817	$4.32M
JP J P Morgan Exchange Traded F	0.5%	Added 29%	85,355	$4.31M
GS Goldman Sachs ETF Tr	0.5%	Added 4.7%	131,396	$4.03M
AC American Centy ETF Tr	0.5%	Added 6.5%	71,431	$4.03M
NE Nushares ETF Tr	0.4%	Added 28%	83,266	$3.26M
I Ishares Inc	0.3%	Added 24%	95,923	$3.08M
IT Ishares Tr	0.3%	Trimmed 3.4%	57,760	$3.07M
I Ishares Inc	0.3%	Added 12%	48,331	$2.44M
IT Ishares Tr	0.2%	Added 2.4%	15,347	$1.78M
AC American Centy ETF Tr	0.2%	Added 7.1%	34,611	$1.5M
VT Vanguard Tax-managed Fds	0.2%	Trimmed 25%	28,744	$1.38M
IT Ishares Tr	0.1%	Added 1.9%	4,656	$1.29M
VI Vanguard Intl Equity Index F	0.1%	Trimmed 8.3%	30,408	$1.25M
JP J P Morgan Exchange Traded F	0.1%	Added 6.7%	24,920	$1.16M
SS SPDR Ser Tr	0.1%	Added 6.7%	38,771	$1.15M
JP J P Morgan Exchange Traded F	0.1%	Added 6.9%	15,667	$787K
SS SPDR Ser Tr	0.1%	Trimmed 16%	7,062	$645K
AG Abrdn Gold ETF Trust	0.1%	Trimmed 7.7%	25,136	$496K
VS Vanguard Scottsdale Fds	0.1%	Trimmed 5.6%	8,040	$495K
IT Ishares Tr	0.1%	Added 1.4%	11,277	$468K
IT Ishares Tr	0.0%	Added 19%	8,606	$311K
IT Ishares Tr	0.0%	Added 4.9%	12,557	$304K
VM Vanguard Malvern Fds	0.0%	Added 6.3%	6,194	$294K
JD Janus Detroit Str Tr	0.0%	Added 6.6%	5,713	$287K

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

Q4 2023

quarter ended December 31, 2023 · filed February 05, 2024

Company	Action	Shares changed	Value of change	% of portfolio
VM Vanguard Mun Bd Fds	Added	+151,911	+$7.76M	9.0%
VI Vanguard Index Fds	Added	+16,203	+$7.08M	12.8%
SI SPDR Index Shs Fds	Added	+199,266	+$6.78M	6.8%
VS Vanguard Star Fds	Added	+66,681	+$3.86M	6.7%
VI Vanguard Index Fds	Added	+12,538	+$2.97M	10.0%
IT Ishares Tr	Added	+59,340	+$2.73M	7.2%
IT Ishares Tr	Added	+29,161	+$2.46M	1.6%
VI Vanguard Index Fds	Added	+14,469	+$2.38M	2.6%
SI SPDR Index Shs Fds	Added	+62,921	+$2.23M	2.3%
IT Ishares Tr	Added	+24,652	+$1.86M	0.9%

Showing the 10 largest of 53 changes.

Q3 2023

quarter ended September 30, 2023 · filed November 08, 2023

Company	Action	Shares changed	Value of change	% of portfolio
VS Vanguard Star Fds	Added	+228,167	+$12.2M	6.7%
IT Ishares Tr	Added	+219,822	+$9.61M	7.5%
VI Vanguard Index Fds	Added	+17,548	+$6.89M	12.4%
VM Vanguard Mun Bd Fds	Added	+132,091	+$6.35M	8.8%
SI SPDR Index Shs Fds	Added	+189,847	+$5.89M	6.4%
VI Vanguard Index Fds	Added	+22,061	+$4.69M	9.9%
VI Vanguard Index Fds	Exited	−21,073	−$4.19M	—
VI Vanguard Index Fds	Exited	−49,196	−$4.11M	—
VI Vanguard Index Fds	Exited	−17,061	−$3.76M	—
DE Dimensional ETF Trust	Added	+139,925	+$3.67M	9.3%

Showing the 10 largest of 72 changes.

Q2 2023

quarter ended June 30, 2023 · filed August 01, 2023

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds	Added	+63,002	+$13.9M	10.0%
IT Ishares Tr	Added	+114,155	+$5.19M	6.8%
VC Vanguard Charlotte Fds	Added	+72,563	+$3.55M	3.1%
VI Vanguard Index Fds	Added	+6,817	+$2.78M	12.3%
VM Vanguard Mun Bd Fds	Added	+46,628	+$2.34M	8.6%
VI Vanguard Index Fds	Added	+20,529	+$1.72M	0.5%
SI SPDR Index Shs Fds	Added	+50,279	+$1.64M	6.1%
VI Vanguard Index Fds	Added	+10,929	+$1.63M	2.3%
VS Vanguard Star Fds	Added	+25,713	+$1.44M	5.5%
IT Ishares Tr	Added	+22,976	+$1.44M	1.0%

Showing the 10 largest of 71 changes.

Q1 2023

quarter ended March 31, 2023 · filed May 10, 2023

Company	Action	Shares changed	Value of change	% of portfolio
VM Vanguard Mun Bd Fds	Trimmed	−166,686	−$8.44M	9.3%
VI Vanguard Index Fds	Trimmed	−9,461	−$3.56M	12.3%
SI SPDR Index Shs Fds	Trimmed	−94,015	−$3.02M	6.4%
DE Dimensional ETF Trust	Added	+108,027	+$2.75M	9.8%
SS Schwab Strategic Tr	Exited	−56,106	−$2.53M	—
IT Ishares Tr	Trimmed	−22,662	−$1.4M	0.9%
SI SPDR Index Shs Fds	Trimmed	−29,257	−$999K	2.1%
DE Dimensional ETF Trust	Added	+38,417	+$886K	4.7%
VI Vanguard Index Fds	Trimmed	−4,255	−$868K	8.4%
VI Vanguard Index Fds	Trimmed	−5,868	−$823K	2.1%

Showing the 10 largest of 72 changes.

Q4 2022

quarter ended December 31, 2022 · filed February 07, 2023

Company	Action	Shares changed	Value of change	% of portfolio
DE Dimensional ETF Trust	New	+873,762	+$41.8M	6.4%
DE Dimensional ETF Trust	Added	+789,351	+$19.2M	9.2%
IT Ishares Tr	Trimmed	−414,648	−$16.2M	0.1%
DE Dimensional ETF Trust	New	+490,137	+$11M	1.7%
IT Ishares Tr	Trimmed	−423,853	−$10.4M	0.1%
VI Vanguard Index Fds	Added	+36,774	+$7.03M	8.2%
IT Ishares Tr	Trimmed	−134,570	−$6.05M	6.9%
VI Vanguard Index Fds	New	+20,887	+$3.83M	0.6%
VS Vanguard Star Fds	Added	+67,543	+$3.49M	5.7%
VI Vanguard Index Fds	New	+17,084	+$3.48M	0.5%

Showing the 10 largest of 68 changes.

Q3 2022

quarter ended September 30, 2022 · filed October 24, 2022

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds	Added	+28,061	+$5.04M	8.5%
IT Ishares Tr	Trimmed	−43,690	−$4.48M	0.2%
VM Vanguard Mun Bd Fds	Added	+75,804	+$3.65M	12.5%
VS Vanguard Star Fds	Added	+61,349	+$2.81M	5.8%
VI Vanguard Index Fds	Added	+8,146	+$2.67M	14.4%
DE Dimensional ETF Trust	Added	+87,655	+$1.66M	4.4%
IT Ishares Tr	Added	+37,039	+$1.65M	9.8%
SI SPDR Index Shs Fds	Added	+58,254	+$1.5M	7.0%
DE Dimensional ETF Trust	Added	+56,208	+$1.25M	7.3%
IT Ishares Tr	Added	+18,013	+$1.11M	1.3%

Showing the 10 largest of 41 changes.

Q2 2022

quarter ended June 30, 2022 · filed July 22, 2022

Company	Action	Shares changed	Value of change	% of portfolio
VM Vanguard Mun Bd Fds	Added	+714,565	+$35.7M	12.0%
IT Ishares Tr	Trimmed	−238,809	−$25.4M	1.1%
VI Vanguard Index Fds	Added	+21,594	+$7.49M	14.3%
VI Vanguard Index Fds	Added	+19,431	+$3.67M	7.7%
VS Vanguard Star Fds	Added	+55,369	+$2.86M	5.8%
DE Dimensional ETF Trust	Added	+93,554	+$2.18M	7.2%
IT Ishares Tr	Added	+47,100	+$1.79M	3.0%
DE Dimensional ETF Trust	Added	+60,712	+$1.3M	4.6%
SI SPDR Index Shs Fds	Added	+42,610	+$1.23M	7.3%
IT Ishares Tr	Added	+50,916	+$1.2M	1.9%

Showing the 10 largest of 42 changes.

Q1 2022

quarter ended March 31, 2022 · filed May 04, 2022

Company	Action	Shares changed	Value of change	% of portfolio
SI SPDR Index Shs Fds	Added	+173,514	+$5.95M	8.0%
VI Vanguard Index Fds	Added	+13,142	+$5.46M	14.7%
VI Vanguard Index Fds	New	+30,982	+$5.45M	1.0%
IT Ishares Tr	Added	+46,569	+$5.11M	5.7%
VI Vanguard Index Fds	Trimmed	−19,713	−$4.49M	8.1%
IT Ishares Tr	Added	+83,100	+$4.12M	9.7%
VM Vanguard Mun Bd Fds	Added	+79,967	+$4.12M	5.1%
AC American Centy ETF Tr	New	+55,123	+$3.45M	0.6%
DE Dimensional ETF Trust	Added	+127,835	+$3.19M	4.8%
IT Ishares Tr	Added	+67,111	+$2.99M	3.0%

Showing the 10 largest of 41 changes.

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