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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Easterly - Hedged Equity Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"The Easterly Hedged Equity Fund returned 7.48% in Q2 2026, capturing 73% of market upside with lower volatility as equities rebounded from Q1 uncertainty. The systematic options hedging strategy repositioned every four to five weeks in response to declining volatility and improving sentiment driven by strong earnings and easing geopolitical tensions."
The Easterly Hedged Equity Fund returned 7.48% in Q2 2026, capturing approximately 73% of the Bloomberg US 500 Index return of 15.61% while maintaining meaningfully lower volatility. Following elevated uncertainty in Q1, equity markets rebounded sharply as the CBOE Volatility Index fell approximately 30% from earlier highs. The recovery was supported by stronger-than-expected corporate earnings, easing geopolitical tensions, and increasing optimism regarding a potential Middle East ceasefire. The Fund's systematic, short-duration hedging strategy adapted throughout the quarter, repositioning approximately every four to five weeks to remain responsive to changing market conditions. Despite the recovery, several risks remain including inflation running above the Federal Reserve's target, elevated equity valuations requiring continued earnings growth, and concentrated market leadership among a small group of companies. The manager believes the Fund's disciplined approach to downside risk management remains well suited to markets characterized by elevated uncertainty and changing leadership, helping investors remain invested through market cycles while seeking attractive long-term risk-adjusted returns.
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