PARAMETRIC HOLDINGS LLC

Thesis

Parametric Holdings LLC, operating as Parametric Portfolio Associates LLC, is an investment management firm focused on providing customized portfolio solutions primarily to institutional investors and financial intermediaries. Their core expertise lies in direct indexing and tax management, notably through their Custom Core® Separately Managed Account (SMA) strategy. The firm aims to deliver efficient market exposures, solve implementation challenges, and design portfolios tailored to evolving investor needs. Parametric's strategies are equity-focused with an emphasis on tax management and customization, offering a wide range of rules-based investment approaches including alpha-seeking equity, fixed income, alternative, and options strategies. They operate globally across North America, Europe, the Middle East, Africa, and the Asia-Pacific region. As of December 31, 2025, Parametric managed approximately $684.7 billion in total assets under management, with their Custom Active platform alone exceeding $12.5 billion as of December 1, 2025. Parametric does not engage in venture capital-style investments but manages portfolios of publicly traded securities. Their account minimums for certain strategies range from $25,000 to $1,000,000. The firm was founded in 1987 and is a wholly owned subsidiary of Morgan Stanley Investment Management.