Topic

Section 351 Exchanges

37 posts

Widget tracking the pipeline of ETFs seeding in-kind via Section 351 from weekly EDGAR filings

Section 351 Exchanges

ETF in-kind pipeline

Apr 21, 2026

Section 351 in-kind ETF seeding moving from niche to mainstream as new launches multiply

Section 351 Exchanges

Two reasons seeding ETFs in-kind is going mainstream

Mar 29, 2026

Cartoon announcing 351.tax, a database and visuals of ETFs seeded in-kind under Section 351

Section 351 Exchanges

Announcing... 351.tax (database and visuals)

Mar 24, 2026

Long position cost basis depicted as a finite resource depleting across years of tax-loss harvesting

Tax-Aware Long-Short

Tax-aware long/short: integrated to overlay via Section 351

Mar 17, 2026

Cartoon rounding up recent taxable-wealth news on in-kind ETFs and IRS priority guidance

Podcasts & Media

In-Kind ETFs, IRS priorities, memes and more

Feb 6, 2026

Graphic for the SSRN paper on seeding an ETF in-kind with concentrated stock under Section 351

Concentrated Stock

Managing Concentrated Public Stock Positions by Seeding an Exchange-Traded Fund

Feb 1, 2026

Cartoon marking record-pace in-kind ETF seeding via SMA, tracking roughly $3 billion raised across 30 funds

Section 351 Exchanges

ETFs seeding in-kind raised ~$3bn in 2025

Jan 4, 2026

Graphic on the risks of walking down a concentrated stock position by seeding ETFs under Section 351

Section 351 Exchanges

Why "walking down" a concentrated position by seeding ETFs could be problematic

Dec 21, 2025

Cartoon of Alpha Architect seeding a $470 million low-distribution equity ETF in-kind via its two-step pitch

Section 351 Exchanges

Alpha Architect launches another low-distro equity ETF seeded in-kind: ~$470 million

Dec 17, 2025

Graphic on individual investors seeding ETFs in-kind and the RIC classification under the PARTNERSHIPS Act

Section 351 Exchanges

Individual investors can seed ETFs in-kind thanks to an exception to an exception

Dec 7, 2025

Cartoon weighing simply selling a concentrated stock against more elegant derisking solutions for low-basis holders

Concentrated Stock

"Just sell the damn stock"

Nov 28, 2025

Cartoon showing an exchange fund seeding a new ETF in-kind, getting the band back together

Section 351 Exchanges

An exchange fund will seed an ETF in-kind... again

Nov 16, 2025

Cartoon revealing that emerging market ETFs cannot use in-kind redemption in many countries, raising tax costs

Emerging market ETFs have a spooky secret

Oct 31, 2025

Cambria GEW launching with $155 million as a test of mainstream in-kind ETF seeding

Section 351 Exchanges

Cambria's GEW launched today with $155mm

Sep 25, 2025

An exchange fund unblocking billions by seeding an ETF in-kind under Section 351

Section 351 Exchanges

How an exchange fund unblocks billions by seeding an ETF in-kind

May 25, 2025

Cartoon on Cambria's ENDW ETF seeded in-kind via Section 351 conversion raising about $100 million

Section 351 Exchanges

Don't call it a comeback: Cambria's latest ETF seeded in-kind raises ~$100 million

Apr 22, 2025

Cartoon showing a tax-aware long/short strategy built with an ETF long side and a Section 351 conversion

Tax-Aware Long-Short

Tax-aware long/short... what if the long is an ETF?

Apr 20, 2025

Cartoon on the printed Adviser's Guide to Seeding an ETF In-Kind and Section 368 consolidation of ETF clones

Section 351 Exchanges

I printed (another) 50 copies of The Adviser's Guide To Seeding an ETF In-Kind

Apr 9, 2025

Cartoon questioning whether fast-growing tax-aware long/short is a durable edge or just a shiny object

Tax-Aware Long-Short

Is tax-aware long/short just a shiny object?

Mar 26, 2025

Cartoon of a Section 351 exchange reallocating a portfolio of embedded-gain holdings into an ETF tax-free

Section 351 Exchanges

I co-authored a blog for Kitces about seeding an ETF in-kind

Mar 14, 2025

Cartoon comparing seeding an ETF in-kind with exchange funds, CRUTs, and tax-aware long/short alternatives

Section 351 Exchanges

Is seeding an ETF in-kind the right strategy?

Mar 11, 2025

Cartoon on a leaked list of 44 ETFs seeded in-kind through Section 351 conversion

Section 351 Exchanges

A market maker leaked a list of 44 ETFs that were seeded in-kind

Mar 4, 2025

Graphic on the Longview Advantage ETF launching at $440 million, seeded 75% in-kind with other ETFs

Section 351 Exchanges

An ETF seeded with other ETFs launched with $440 million

Mar 2, 2025

Playful dad tax cartoon paired with the Cambria TAX ETF in-kind seeding post-mortem

Section 351 Exchanges

Will the dad tax embitter the next generation?

Feb 5, 2025

Cartoon on Hill Investment Group seeding the $500 million Longview Advantage ETF in-kind

Section 351 Exchanges

How Hill Investment Group gathered $500 million in-kind for its new ETF

Jan 26, 2025

Cambria TAX ETF still repositioning toward target allocation months after in-kind seeding

Section 351 Exchanges

28 weeks later: What's stopping Cambria Tax Aware ETF from hitting its target allocation?

Jan 22, 2025

Cartoon reviewing the Cambria Tax Aware ETF ticker TAX 28 days after its in-kind Section 351 launch

Section 351 Exchanges

28 days later: Cambria Tax Aware ETF (ticker TAX) at launch and today

Jan 19, 2025

Cartoon on de-risking concentrated stock by contributing up to 25% to a new ETF in-kind via Section 351

Section 351 Exchanges

De-risking concentrated stock by seeding an ETF in-kind

Dec 22, 2024

Graphic showing Cambria Tax Aware ETF seeded in-kind with $27 million across ETFs and direct equities

Section 351 Exchanges

$27 million AUM contributed in-kind to Cambria Tax Aware ETF (TAX)

Dec 19, 2024

Section 351 diversification tests blocking a single large stock from tax-free ETF seeding

Section 351 Exchanges

Can I diversify a large single-stock holding tax-free by seeding an ETF in-kind?

Dec 17, 2024

Cartoon questioning whether seeding ETFs in-kind via Section 351 can scale beyond a local, niche move

Section 351 Exchanges

In-kind of a big deal: TAX launches soon

Dec 15, 2024

Cartoon on why mutual fund shares cannot practically seed an ETF in-kind under Section 351

Section 351 Exchanges

Can I seed an ETF in-kind using mutual fund shares?

Dec 11, 2024

Cartoon questioning whether seeding ETFs in-kind via Section 351 will ever go mainstream

Section 351 Exchanges

Will seeding ETFs in-kind go mainstream? "I doubt it"

Dec 1, 2024

Graphic lampooning a fortune-favors-the-brave ad while comparing exchange funds and Section 351 conversions

Concentrated Stock

Fortune Favors The Brave... Until it Doesn't

Nov 24, 2024

Cartoon accompanying an FAQ on seeding an ETF in-kind featuring Meb Faber's Cambria Tax Aware ETF

Podcasts & Media

Seeding an ETF In-Kind: FAQs and Video with Meb Faber and Pat Cleary

Oct 27, 2024

Cartoon on Cambria's TAX ETF normalizing the Section 351 conversion for in-kind ETF seeding

Section 351 Exchanges

TAX distills a century of tax strategy into an ETF

Oct 20, 2024

Graphic on Section 351 conversions letting locked-up SMAs roll into ETFs in-kind without realizing gains

Section 351 Exchanges

ETFs Could Soon Bail SMAs Out of Lockup

Oct 13, 2024