Jack, a Jack Russell terrier in an oversized brown suit, sitting bolt upright behind a wooden desk.

Solana · a passive fund · run by a very active dog

Jack Russell 2000

He wants to sell. He has never sold.

Buy $JR2000 View the chart Swap on Jupiter

Contract 3FXq1br3iNSiaHWPCU67NjHCSgSfAu6JZD4YBLhapump

The Annual Report Est. a long time ago Unchanged since

This is not an annual report. This is not a security. This is a dog.

I

To the holders

Jack Russell terriers cannot sit still. This is a documented fact about the breed, and it is also the entire problem, because the fund he runs has exactly one strategy and that strategy is to do nothing.

He is extremely bad at doing nothing. He has read the chart. He has considered the chart at length. Every quarter he opens the ledger, looks at the single line written in it, picks up the pen, and puts the pen back down.

Nothing else has happened. The phone is beige and has not rung. The office has not been redecorated. Schedule 1 of this report is the schedule of disposals and it is printed overleaf, ruled correctly, with no rows in it at all.

He would like it on the record that he thought about it. He thinks about it constantly. The fund is passive. The dog is not.

Jack asleep at the desk with his reading glasses askew.

Signed — in the only way available to him

Jack sitting bolt upright in a brown three-piece suit, ears raised, morning light through venetian blinds.
The dog, at the desk, not selling
II

Schedule 1 — disposals

Schedule of disposals for the period
DateInstructionAuthorised byUnits
Total disposalsNil.
  1. Note 1. The schedule above has been prepared on a consistent basis with every prior period.
  2. Note 2. No disposal has been authorised. The dog was thinking about it.
III

Results

IV

Plates

The desk seen from directly above: an open ledger, a ring left by a mug, a beige rotary telephone, and one white paw entering the frame.
Plate I The desk, from above. One paw, entering.
Floor level view under the desk showing the dog's short legs and a wastepaper basket.
Plate II Under the desk. The legs are short.
A boardroom with twelve empty chairs and one small dog sitting on the thirteenth.
Plate III The meeting. Attendance: one.
A filing room with folders from floor to ceiling and a very small dog at the bottom of the frame.
Plate IV The filing room. All of it is Schedule 1.
Close-up of a ledger page with a single line written on it and the rest of the page blank.
Plate V The ledger. One line, entered.
The office at night lit only by a green glass desk lamp, with an empty chair.
Plate VI After hours. The lamp stays on.
V

Instruction to sell

Holders wishing to dispose of their units should complete the form below. Completed instructions are entered into the record as notes to Schedule 1.