Requisite Capital Management, LLC

Requisite Capital Management, LLC is a registered investment advisory firm based in Dallas, Texas. Co-founded by managing partners Broughton Chenoweth and Jeff Holland, the firm provides investment management and comprehensive wealth advisory services to high-net-worth individuals, families, and institutional clients. Requisite Capital operates as an independent, fee-based fiduciary advisor, constructing portfolios designed to deliver long-term capital appreciation while managing risk in alignment with each client's specific financial objectives and constraints. The firm files quarterly 13F disclosures with the Securities and Exchange Commission under CIK #0001730573, establishing a transparent public record of its U.S.-listed equity holdings. These filings, which began appearing around 2018, provide a multi-year window into the firm's equity positioning across several distinct market regimes — including the late-cycle expansion of 2018-2019, the COVID-19 shock and recovery of 2020, the post-pandemic reflation trade, the inflationary tightening cycle of 2022-2023, and the more recent market environment shaped by artificial intelligence enthusiasm and evolving monetary policy expectations. Dallas has emerged as one of the leading wealth management and advisory hubs in the United States, attracting significant talent and capital as high-net-worth populations have expanded across the Sun Belt region. Requisite Capital Management's presence in this dynamic market positions the firm to serve an affluent client base that increasingly seeks sophisticated, institutional-quality advisory services delivered through an independent, conflict-minimized structure. The firm's name itself — "Requisite" — suggests an emphasis on essential, foundational principles in portfolio construction and wealth management, reflecting a philosophy grounded in disciplined fundamentals rather than speculative opportunism.

Requisite Capital Management employs a core blend equity strategy that integrates fundamental analysis with diversified portfolio construction. Under the investment leadership of Chief Investment Officer Broughton Chenoweth, the firm seeks to build portfolios that capture long-term equity market appreciation while managing downside risk through thoughtful security selection and disciplined position sizing. The investment philosophy appears oriented toward owning high-quality businesses across the market capitalization spectrum, with a focus on companies that demonstrate strong fundamentals — including consistent revenue growth, healthy margins, robust free cash flow generation, and sustainable competitive moats. The 13F Portfolio Composition across the firm's filing history reveals a well-diversified equity portfolio with meaningful allocations spanning technology, healthcare, financial services, and consumer-oriented sectors. This multi-sector approach reflects a balanced investment process that avoids overconcentration in any single thematic bet, instead constructing a portfolio that draws on diverse sources of return and manages cross-sector correlation risk. The technology and healthcare weightings suggest an appreciation for secular growth themes, while financial and consumer holdings provide cyclical exposure and valuation diversity. Position construction within the portfolio suggests a blend of individual equity selections and, in certain periods, exchange-traded fund (ETF) allocations that provide efficient market exposure or sector-level diversification. This hybrid approach — combining bottom-up stock picking with strategic use of passive instruments — is increasingly common among sophisticated advisory firms that recognize the efficiency benefits of ETFs for certain portfolio functions while maintaining active management where their security selection edge is strongest. The result is a portfolio architecture that balances active alpha-seeking with cost-effective beta exposure. The Sector Allocation History across quarterly filings reveals the evolution of Requisite Capital's sector positioning over time, illuminating whether the firm has maintained stable thematic convictions or has tactically adjusted its allocation mix in response to shifting macroeconomic conditions. Low to moderate portfolio turnover across filing periods is consistent with a patient, conviction-driven approach that favors holding quality names through intermediate-term volatility rather than engaging in frequent tactical repositioning. This holding philosophy reduces transaction costs and tax drag — considerations of particular importance for the firm's high-net-worth taxable client base.

Requisite Capital Management presents as a disciplined, Dallas-based registered investment advisor with a core-blend equity strategy designed to serve high-net-worth and institutional clients seeking long-term capital appreciation within a risk-managed framework. The firm's 13F filings under CIK #0001730573 offer a multi-year dataset for evaluating equity selection, sector positioning, and compounding behavior across a varied market landscape. Key characteristics observable from the public record include a diversified sector allocation spanning technology, healthcare, financials, and consumer sectors; a hybrid portfolio construction approach that blends individual stock selection with strategic ETF usage; low to moderate turnover consistent with a patient holding philosophy; and a quality-oriented selection process that favors fundamentally sound businesses across the capitalization spectrum. The leadership team of Broughton Chenoweth and Jeff Holland brings a collaborative, partnership-driven governance structure to the investment process, potentially enhancing decision-making rigor through the natural checks and balances of a multi-partner framework. The Annualized Return (CAGR) implied by historical replication of the disclosed holdings offers a quantitative benchmark for evaluating Requisite Capital's compounding effectiveness relative to passive alternatives and actively managed peers. The Sharpe Ratio derived from simulated returns provides a standardized efficiency metric that captures not just the magnitude of returns but the consistency and risk-adjusted quality of the capital trajectory — a dimension of particular importance for high-net-worth clients whose financial plans depend on reliable, sustainable compounding rather than volatile, unpredictable outcomes. A diagnostic question for further investigation: Given Requisite Capital's hybrid approach of combining individual equity selection with ETF-based allocations, does the active equity component of the portfolio demonstrate measurable alpha generation relative to the ETF-replicated beta exposure, and has the balance between active and passive components shifted systematically across different volatility regimes — suggesting a deliberate risk management overlay that increases passive exposure during uncertain environments and concentrates active bets during periods of higher conviction?

The risk characteristics of Requisite Capital Management's disclosed portfolio are shaped by the firm's diversified, core-blend construction methodology and its emphasis on fundamental quality in security selection. Broad sector diversification across technology, healthcare, financials, and consumer names introduces a natural hedging dynamic, as these sectors exhibit varying sensitivities to interest rates, economic cycles, and geopolitical events. During periods of sector rotation — such as the pronounced growth-to-value shift of 2022 — a diversified allocation can dampen the volatility that more concentrated or style-extreme strategies experience. The Max Drawdown Depth during key stress events within the firm's filing history provides critical insight into the portfolio's downside behavior. The March 2020 COVID-19 selloff represented a rapid, liquidity-driven shock that tested nearly all equity strategies regardless of style or sector positioning. The 2022 correction, driven by Federal Reserve tightening and inflation concerns, selectively pressured growth-oriented and duration-sensitive holdings while rewarding value and cash-flow-generative names. Examining Requisite Capital's portfolio response to each distinct drawdown environment reveals whether the firm's blend approach provided genuine diversification benefit or tracked broad market declines. The Downside Capture Ratio relative to relevant benchmarks offers a particularly informative metric for evaluating the portfolio's defensive characteristics. For a high-net-worth-oriented advisory practice, asymmetric downside capture — participating in less of the market's decline while capturing a reasonable share of its advance — is often the hallmark of effective risk-adjusted portfolio construction. This asymmetry, when sustained over multiple drawdown episodes, compounds into meaningfully superior capital trajectories over full market cycles. The inclusion of ETF positions within the portfolio introduces an additional risk management dimension. Strategic use of ETFs can provide rapid diversification, liquidity, and tactical flexibility during periods of elevated uncertainty, allowing the firm to maintain market exposure while potentially reducing single-stock risk. However, ETF allocations also introduce tracking considerations and may dilute the alpha potential of the overall portfolio relative to a purely individual-stock approach. The firm's filing history from approximately 2018 to the present spans a sufficiently diverse set of market conditions to begin drawing preliminary conclusions about regime sensitivity, though the record does not yet capture a prolonged secular bear market or a deflationary recession. As additional quarters of data accumulate, the analytical resolution of risk assessments derived from the 13F record will continue to improve.