Duck State Financial

The firm, formed in January 2025, offers investment advisory and portfolio management services to high‑net‑worth individuals, charitable organizations, corporations and insurance companies, and it also provides consulting to institutions that rely on investment returns. Its services include ongoing discretionary portfolio management, financial planning, cash‑flow forecasting, integrated asset‑liability risk management, and regular monitoring and reporting.

The investment process blends top‑down macro and cyclical analysis with bottom‑up fundamental research and valuation modeling to identify equities perceived to trade at material discounts to intrinsic value. Portfolios are managed with a long‑term horizon and an emphasis on concentrated allocations (the brochure cites a typical optimization point after 20–30 risk‑asset holdings), quarterly risk reviews, and the ability to reduce exposure or hedge as market conditions change.

Distinctive aspects noted in the brochure include a very small, recently formed firm reporting no assets under management or clients to date while nonetheless positioning to serve institutional mandates and requiring use of a specific custodian (Schwab Institutional) that can provide research and other institutional services. The firm also discloses potential soft‑dollar benefits, a centralized in‑house investment and trading approach without third‑party sub‑advisers, no participation in wrap programs, and policies addressing personal trading and limited custody via standing authorizations.