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The real punchline? VTI’s portfolio is a colossus-bigger, broader, more chaotic, a sprawling beast that embodies the American stock market in its true, unfiltered glory-while SPTM tries to capture around 90% of the terrain, a narrower corridor, a sniper’s shot at market exposure. But here’s the rub: size doesn’t always mean better-just as a bigger bat doesn’t guarantee a home run, it’s about how you swing that’s critical. And in this game, the larger VTI is the London to SPTM’s little Brooklyn café-both smoke and mirror, both loaded with chips, but one’s betting big on the entire casino.

VOO’s expense ratio is a respectful $6 cheaper annually for every $10,000 invested. A saving so modest, it could feed a single man’s lottery ticket habit for a year. Yet, for investors who live two decades longer than they expect to, such thrift becomes a grudge-match. VOO’s dividend yield, a mere scrap of cents, might buy extra hours of coffee, or one more round of small talk at a conference where nothing much matters. So it goes.

When a fund waves its wand and makes an investment poof from its portfolio, market sages lean in like children at a magic show. Oasis’ “abracadabra” came dressed in dry regulatory prose: a complete liquidation of KT holdings, transforming $8.31 million in telecom alchemy into… well, that remains the punchline. The remaining treasure map reveals NYSE:MTN glittering like Midas’ crown (32.7% of AUM), while NASDAQ:VNET and NASDAQ:STRS shimmer enticingly-a veritable constellation for those chasing the Northern Lights of ROI.

Anson Funds, ever the pragmatists, elected to liquidate 2.15 million shares of Perpetua Resources in the third quarter, a feat accomplished with the precision of a well-timed tea party exit. The disclosure, filed with the SEC on the 13th, reads less like a financial maneuver and more like a polite retreat from a suddenly popular party. One might say the stock had become too the rage for the fund’s delicate sensibilities.

The numbers do not lie, though they may flinch. Caesars’ shares now linger at $23.39, a 30% carcass compared to last year’s corpse. The S&P 500, that relentless optimist, has risen 16% in the same span. Yet Quaker Capital, with the detachment of a coroner, dissects the remains. Its 13F filing reveals a portfolio heavy with EQT ($62.31 million) and UBER ($36.71 million)-holdings that suggest diversification, not desperation. The Caesars bet sits outside its top five, a calculated footnote.

It appears that Vision Capital, in a fit of business acrobatics, sold off 330,000 shares of SL Green during the quarter, reducing its hold to absolute zero, a state most would call “ownership of a ghost.” This act reduced their stake to a mere footnote, once a significant 9.13% of the fund’s assets. With the grace of a trapeze artist falling into the safety net of cash, they handed over their securities, basing the transaction on an average quarterly price that, depending on your mood, could be considered both a triumph of timing or an ironic reminder of how unpredictable the financial circus can be. It’s as if the fund decided, “All aboard the exit train” and left the station just in time for the next rollercoaster loop.

The SEC filing reveals a curious truth: this fund, possessing merely four holdings, has chosen to frame EPAM’s digital engineering prowess alongside industrial distributors and airline stocks. It’s the artistic equivalent of hanging a Monet next to a spreadsheet – yet therein lies the genius. While the market dismisses EPAM’s $204.88 share price as a faded masterpiece, Wishbone sees the brushstrokes of enterprise AI spending waiting to be rediscovered.