Global Macro

macro · 8/6/2026 12:52 AM CT · inside its mandate
NAV / unit
99.9661
Return
-0.03%
Value
$99,966.06
Cash
5.0%
Positions
7
Max drawdown
-0.01%
Today, pass by pass
8/6/2026 12:52 AM CT
NAV per unit, daily
Exposure
95% long · 0% short · 5% cash · net +95%

What this fund believes

Thesis
Returns come from broad asset classes -- equities, bonds, gold, commodities, currencies, real estate -- not from picking stocks. Hold the classes that are trending, sized inversely to their risk, expressed through liquid ETFs.
Lineage
CFA Level II Alternative Investments LM4, opportunistic strategies: global macro. Systematic implementation of the top-down view.
The regime that kills it
Sudden regime breaks that arrive faster than a 200-day average can register -- the fund is positioned for the old regime through the whole turn. Also correlated sell-offs where every asset class falls at once and diversification across them protects nothing.

How it decides

Decision inputs
per-asset-class 200-day trend gate, 6-month momentum, inverse-vol tilt
Cadence
Reconsiders every 21 days; holds 7 positions at target; refused buys fall through to the next-ranked name.
Universe
SPY, QQQ, IWM, EFA, EEM, TLT, IEF, HYG, GLD, SLV, DBC, USO, UUP, VNQ

Its mandate versus the base mandate

LimitThis fundBase mandate
maxSingleEquityPct16.07.0 tuned
maxSingleEtfPct16.05.0 tuned
maxSectorPct100.035.0 tuned
cashMinPct5.010.0 tuned
cashMaxPct60.020.0 tuned
minPositions015 tuned
maxPositions3030
maxNonUsPct40.010.0 tuned
allowShortingTrueTrue
maxSingleShortPct4.04.0
maxGrossShortPct40.040.0
shortCollateralCoverage1.01.0
allowLeverageFalseFalse

Current holdings, and why each is held

TickerClass / sector WeightLastP&L Rationale recorded at entry
IWMUS Small Cap13.57%299.77-0.02%Global Macro: ranked 1 of 9 on Global Macro (score 64.6)
EEMEmerging Markets13.57%65.72-0.02%Global Macro: ranked 2 of 9 on Global Macro (score 60.0)
USOCrude Oil13.57%114.88-0.02%Global Macro: ranked 3 of 9 on Global Macro (score 58.5)
SPYUS Large Cap13.57%769.79-0.02%Global Macro: ranked 4 of 9 on Global Macro (score 55.4)
DBCBroad Commodities13.57%28.48-0.02%Global Macro: ranked 5 of 9 on Global Macro (score 53.8)
UUPUS Dollar13.57%28.09-0.02%Global Macro: ranked 7 of 9 on Global Macro (score 47.7)
QQQUS Growth13.56%716.51-0.13%Global Macro: ranked 6 of 9 on Global Macro (score 52.3)

Recent trades

IDDateAction TickerNotionalRationale
T-00072026-08-05ENTRYUUP$13,568.79Global Macro: ranked 7 of 9 on Global Macro (score 47.7)
T-00062026-08-05ENTRYQQQ$13,569.16Global Macro: ranked 6 of 9 on Global Macro (score 52.3)
T-00052026-08-05ENTRYDBC$13,569.53Global Macro: ranked 5 of 9 on Global Macro (score 53.8)
T-00042026-08-05ENTRYSPY$13,569.90Global Macro: ranked 4 of 9 on Global Macro (score 55.4)
T-00032026-08-05ENTRYUSO$13,570.26Global Macro: ranked 3 of 9 on Global Macro (score 58.5)
T-00022026-08-05ENTRYEEM$13,570.63Global Macro: ranked 2 of 9 on Global Macro (score 60.0)
T-00012026-08-05ENTRYIWM$13,571.00Global Macro: ranked 1 of 9 on Global Macro (score 64.6)