Number of positions are generally 40-60 long and 20-40 short
Exposure Guidelines
Gross exposure is limited to 150% of net assets
Typically 70-90% long gross exposure and 40-60% short exposure
TOP FIVE LONG EQUITY POSITIONS AS OF JUNE 30, 2024
Robinhood Markets, Inc.
4.87%
First Citizens – A
4.27%
Axos Financial Inc.
4.03%
SLM Corporation
3.99%
Jackson Financial Inc.
3.98%
TOP FIVE SHORT EQUITY POSITIONS
Charles Schwab Corporation
-2.35%
MGIC Investment Corporation
-2.15%
Radian Group Inc.
-2.02%
Capitol Federal Financial, Inc.
-2.01%
Bank of Hawaii Corporation
-1.97%
SECTOR ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Commodities
0.0%
0.0%
0.0%
Communication Services
2.8%
9.3%
-0.3%
Consumer Discretionary
1.8%
10.0%
0.0%
Consumer Staples
0.0%
5.8%
-0.1%
Convertibles
0.0%
0.0%
0.0%
Energy
0.0%
3.6%
0.0%
Equity
0.0%
0.0%
-0.4%
Financials
82.4%
12.4%
-26.1%
Health Care
0.0%
11.7%
0.0%
Industrials
0.0%
8.1%
-1.2%
Materials
1.6%
2.2%
0.0%
Non Convertibles
0.0%
0.0%
0.0%
Real Estate
2.0%
2.2%
-5.9%
Rights
0.0%
0.0%
0.0%
Utilities
0.0%
2.3%
0.0%
Technology
6.9%
32.4%
0.0%
Total
97.5%
100.0%
-33.9%
BEST PERFORMERS
Security Name
Positioning
Contribution
HOOD
Long
0.41%
JXN
Long
0.38%
SITE
Short
0.34%
BCS
Long
0.25%
VCTR
Long
0.24%
WORST PERFORMERS
Security Name
Positioning
Contribution
WEX
Long
-0.31%
NAVI
Long
-0.29%
HOUS
Long
-0.28%
BANC
Long
-0.24%
GC
Long
-0.24%
Investing involves risk, including loss of principal. The Fund uses aggressive investment strategies (including short positions and options) that have the potential for yielding high returns; however, these strategies may also result in losses. Stocks sold short have unlimited risk. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Options are not suitable for all investors.
The Fund is distributed by Ultimus Fund Distributors, LLC.
