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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging structure in a highly concentrated, expensive market."
In Q3 2025, the Easterly Hedged Equity Fund returned 4.98% (I Shares) compared to 8.12% for the S&P 500 Index. Year-to-date, the fund returned 10.16% vs. 14.83% for the index. Although the Federal Reserve initiated interest rate cuts, market leadership remained highly concentrated in mega-cap technology, AI, and power infrastructure, while cyclicals and labor-sensitive areas lagged. Because volatility remained elevated and valuations reached ~24x forward earnings, the manager argues that the market is vulnerable to sentiment shifts. The fund leveraged its hedged structure to capture near-70% participation of the index's upside with less than half the volatility, demonstrating its efficacy as a core equity allocation with downside protection.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Growth Outlook
Market outlook remains moderate conviction: The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Risk Appetite
Risk appetite posture is moderate conviction: The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Forward Guidance
Forward guidance signal: The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Language Signal
Tone analysis indicates above average conviction language: The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Perceived Risk
Perceived risk level is evaluated as high conviction. The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Opportunity Density
Opportunity density index indicates moderate conviction actionable entry points. The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
Time Horizon
Investment time horizon reflects a above average conviction orientation. The Easterly Hedged Equity Fund achieved solid upside capture of 4.98% in Q3 2025 while insulating investors from high market volatility, proving the value of its active hedging st...
