SEC Filing Analysis: SCRATCH CAPITAL LLC

Executive Summary

• Trading Significance: Low
• Key Takeaway: SCRATCH CAPITAL LLC filed its quarterly Form 13F-HR, disclosing $151.6 million in assets under management across 63 positions as of September 30, 2025. The portfolio shows a heavy concentration in ETFs, particularly from Dimensional and Vanguard.
• Market Impact: As a routine quarterly disclosure from a moderately sized firm, this filing is unlikely to have a significant market impact. It serves as an informational update on institutional ownership for the underlying securities.

Filer Information

Field	Value
Company	SCRATCH CAPITAL LLC
Ticker Symbol	null
CIK	0002055324
Type	Institutional Investment Manager

Insider Information

This is a Form 13F-HR, a required quarterly report for institutional investment managers meeting certain asset thresholds. It is not an insider trading filing (like Form 4). The filer is the institution itself, not an individual corporate insider.

Portfolio Summary

Field	Value
Form Type	13F-HR
Period of Report	2025-09-30
Total Portfolio Value	$151,602,164
Number of Holdings	63

Portfolio Highlights (Top 5 Holdings by Value)

Issuer	Security	Value (USD)
DIMENSIONAL ETF TRUST	US CORE EQUITY 2	$23,349,622
VANGUARD SCOTTSDALE FDS	SHORT TERM TREAS	$15,880,908
DIMENSIONAL ETF TRUST	INTL CORE EQUITY	$13,875,738
DIMENSIONAL ETF TRUST	US HIGH PROFITAB	$13,511,011
DIMENSIONAL ETF TRUST	US SMALL CAP VAL	$11,174,344

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: 13F filings report positions held at the end of a quarter, which can be up to 45 days old. They do not represent real-time trading activity and are generally not considered strong short-term market catalysts unless a very prominent activist investor is taking a new, large position.

Volume & Sentiment

• Expected Volume Impact: Negligible. This is a standard compliance filing.
• Sentiment Indicator: Neutral. The filing indicates a diversified, ETF-heavy strategy, which does not signal a strong bullish or bearish conviction on any single stock.

Investment Insights

Portfolio Strategy Indicators

• Diversification: The portfolio is highly diversified across 63 positions, with a significant focus on broad-market and factor-based ETFs.
• Factor Tilts: The presence of Dimensional ETFs like 'US HIGH PROFITAB' and 'US SMALL CAP VAL' suggests a strategy that may incorporate factor investing principles (e.g., tilting towards value, profitability).
• Capital Preservation: A large allocation to short-term treasury ETFs (VANGUARD SCOTTSDALE FDS and ISHARES TR 0-3 MNTH TREASRY) indicates a focus on liquidity and capital preservation within the portfolio.

Key Takeaways

1. ETF-Centric Strategy: The majority of the portfolio's value is invested in ETFs, suggesting a passive or semi-passive management style.
2. Dimensional Fund Advisors Preference: Scratch Capital shows a clear preference for products from Dimensional Fund Advisors, known for their academic, factor-based approach.
3. Balanced Risk Profile: The combination of broad equity ETFs and significant holdings in short-term government bonds points to a balanced risk management approach.

Contextual Analysis

Filing Significance

Form 13F provides transparency into the holdings of institutional investors. For analysts, it is a valuable tool for tracking institutional sentiment, identifying popular securities among funds, and understanding the strategies of different managers over time. However, its backward-looking nature limits its use for short-term trading signals.

Company Context

SCRATCH CAPITAL LLC is an investment manager based in Boise, Idaho. With ~$151M in reported assets, it is a small to mid-sized firm. Its investment strategy, as revealed by this filing, appears to be rooted in modern portfolio theory, emphasizing diversification and factor exposure through low-cost ETFs.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-15 | Data source: SEC EDGAR