DAN L DUNCAN FOUNDATION

**DAN L DUNCAN FOUNDATION** maintains a focused, two-position portfolio with $71M in assets under management. The fund exhibits a significant overweighting in international equities, evidenced by its top holding in IEFA, representing $52.4M. A secondary core position is held in VIG, contributing $18.2M to the current allocation. This structure suggests a concentrated, international-tilt strategy targeting global equity exposure.

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