Most of your net worth in one stock?

Diversify without losing a third to taxes.

Selling to diversify means paying capital gains tax first. Glidepath lets you exchange your shares for a stake in a diversified fund instead. No sale, so no tax bill today, and every dollar keeps working for you.

See if you qualify How it works

A few quick questions
No commitment
No credit check

$50M+in assets from founders and early employees, per WealthManagement.com

What diversifying costs you

Illustrative

I have $ in and pay tax in

Sell to diversify

−$1,001,700

$1,998,300 left to investgoes to taxes

Exchange to diversify

$0 due today

$3,000,000 stays invested, diversified

Exchanging instead of selling keeps

$1,001,700

more working for you from day one.

Fund partners

UBSCustody
Audit
Fund administration
Hanson BridgettLegal

Glidepath is backed by partners at

Built for founders, early employees and long-time holders of stocks like these

NVIDIANVDA

Meta PlatformsMETA

Alphabet Class AGOOGL

AppleAAPL

MicrosoftMSFT

AmazonAMZN

TeslaTSLA

PalantirPLTR

BroadcomAVGO

SalesforceCRM

SnowflakeSNOW

UberUBER

AirbnbABNB

CoinbaseCOIN

RobinhoodHOOD

NetflixNFLX

Arm HoldingsARM

The concentrated stock trap

Holding is risky. Selling is expensive. There’s a third option.

Hold

Keep the stock

Sell

Then diversify

Exchange

With Glidepath

Tax bill todayNoneUp to 37% of the gainNone, it’s deferred

DiversifiedOne companyYesYes

Invested from day oneAll of itWhat’s left after taxAll of it

Access to your moneyAnytimeAnytimeAfter 7 years

See if you qualify

How it works

One stock in. The market out.

An exchange fund pools shares from many investors into one diversified portfolio. You own a slice of the whole thing instead of all of one company.

1
Contribute your shares
Move your stock into the fund in kind. It is an exchange, not a sale, so there is no capital gains tax bill when you do it.
2
Own the market instead of one company
Your single position becomes a slice of a broad portfolio. The pool holds 172 positions, selected to track the S&P 500.
3
Redeem after seven years
Take ETF shares with your original cost basis, or stay invested. The tax stays deferred until you decide to sell.

Who is behind it

Built with firms you already know.

Your shares are held by an independent custodian, the books are audited by an outside firm and a third party strikes the fund’s value. Glidepath is backed by partners at Spark Capital, Kleiner Perkins, Susa Ventures and Collective Global.

Glidepath Securities LLC, our affiliated broker-dealer, on FINRA BrokerCheck (CRD #337460)

UBS

Custody

Withum

Audit

NAV Fund Services

Fund administration

Hanson Bridgett

Legal

As featured inThe Information WealthManagement.com

Questions

The things people ask before they call.

What is an exchange fund, in plain English?

An exchange fund lets you contribute appreciated stock in-kind to a diversified fund without triggering a sale. Under Section 721 of the tax code, the contribution is not a taxable event, so your full pre-tax balance keeps compounding. After 7 years + 1 day you can redeem in liquid ETF shares with carryover basis, keeping the tax deferral until you need liquidity.

Is this a loophole?

It is written into the tax code. Section 721 lets investors contribute property to a partnership without it counting as a sale, and exchange funds have used it for decades, mostly for the very wealthy at seven-figure minimums. Glidepath starts at $100,000.

Do I ever pay the tax?

If and when you sell. An exchange fund defers capital gains tax; it does not erase it. Your original cost basis carries over, so the gain is still there, but you decide when to realise it and the full amount stays invested in the meantime. Under current law, positions held until death may receive a stepped-up basis; talk to your tax advisor.

Who can invest?

Qualified purchasers ($5M+ in investable assets), contributing at least $100,000 of stock. The questions after you click tell you whether you qualify before anyone asks you for anything else.

How is there no management fee?

By law, every exchange fund holds about a fifth of its assets in something other than public stock, usually real estate that charges its own fees. About a fifth of the fund is held in aircraft leased to Craft. Fund investors receive a 1% preferred return from the operating company, offsetting the acquired ETFs' fund fees, and a tenth of the sleeve's economic profit is credited to investors' net asset value.

Read the operating company’s books →

Is my money locked up?

Seven years is a real lock, not a suggestion: the holding period is what separates an exchange from what the IRS calls a disguised sale, and leaving early forfeits the deferral the whole structure exists to buy. What you receive if you do need out sooner, and on what schedule, is set by the private placement memorandum rather than by us.

What happens after seven years?

After seven years and one day, investors are eligible to redeem securities or cash, or may choose to stay invested until liquidity is needed. Some modern exchange funds are designed so that, following the holding period, investors may receive ETF shares rather than an unmanaged basket of individual stocks — offering a simpler exit into a daily liquid and diversified position. An exchange fund defers capital gains tax; it does not erase it. Your carried-over basis means the embedded gain is still there, and tax applies if and when you ultimately sell. The benefit is control — you decide when the gain is realized — plus the compounding advantage of keeping the full pre-tax amount invested in the meantime. Under current law, positions held until death may receive a stepped-up basis, which can eliminate the deferred gain for heirs; consult your tax advisor.

Don’t sell. Exchange.

Answer a few questions about your position. If it’s a fit, a Glidepath advisor walks you through your own numbers on a call.