LEADERSHIP▌
THE FIRM IS OPERATED BY A COMPACT TEAM OF FOUR. TITLES ARE DESCRIPTIVE RATHER THAN HIERARCHICAL. ALL DECISIONS ARE MADE BY CONSENSUS, EXCEPT WHEN THEY ARE NOT.
WILLIAM R. GOLDSWORTH
FOUNDER & CHIEF EXECUTIVE
Founded the firm in 1987 with a thesis that remains unchanged. Previously a commodities analyst at a firm he does not name. Holds a personal position in all three instruments.
MARCUS T. ASHCROFT
CHIEF ACQUISITION OFFICER
Leads terrestrial sourcing operations. Maintains relationships with the firm's proprietary extraction partners. Formerly in industrial procurement; his current role is not meaningfully different.
LAWRENCE V. STONEBRIDGE
DIRECTOR, VAULT OPERATIONS
Responsible for the Class III custody facility and its attestation ledger. Holds the only physical key. Has not taken a day off since 2019, which the firm considers a positive indicator of operational focus.
DOUGLAS F. PENNINGTON
HEAD OF BEDROCK RESEARCH
Oversees internal research on long-dated lithic assets. Publications include several unpublished memoranda. His sole public statement on firm strategy: "We are long rocks."
GOVERNANCE NOTE
THE FIRM MAINTAINS NO OUTSIDE BOARD, NO ADVISORS, AND NO STAFF BEYOND THE FOUR INDIVIDUALS NAMED ABOVE. SUCCESSION PLANNING IS INFORMAL. IN THE EVENT OF A LEADERSHIP TRANSITION, CLIENT POSITIONS ARE EXPECTED TO REMAIN IN PLACE.