📊 Unlimited ETFs — Holdings Monitor

The suite is collectively signaling a high-conviction risk-on posture characterized by a preference for growth-oriented equities and high-yield credit, underpinned by a significant move toward defensive liquidity via US government obligations. The dominant macro theme is a pivot toward pro-cyclicality, evidenced by aggressive long positioning in emerging markets and technology, while simultaneously hedging against duration risk.

HFND maintains a robust risk-on stance with a 99.7% net exposure, though its high cash balance of 46% suggests tactical maneuvering. The fund has significantly increased its allocation to US high-yield credit and emerging market equities, while aggressively trimming its short position in US five-year notes. This reduction in the short note position implies a move away from betting on rising US yields, suggesting a stabilizing or falling interest rate outlook.

HFGM acts as the primary engine of global macro aggression, boasting a massive 170.1% net exposure and a 257.5% gross long position. The fund is heavily leaning into a "risk-on" currency regime, significantly increasing long positions in the Australian dollar and the euro, which represents a bet on the strengthening of these currencies against the US dollar. Conversely, it has reduced its short position in the Japanese yen, suggesting a softening view on yen strength. The addition of copper and the liquidation of lithium indicate a rotation within the commodities space toward more traditional industrial growth drivers.

HFMF remains the most conservative element of the suite with a low 27.2% net exposure, yet its internal shifts are telling. It has aggressively increased its holding in US government obligations while trimming US long bonds, suggesting a preference for shorter-duration safety over long-term yield. Its currency positioning mirrors HFGM, with a notable increase in the euro and a reduction in the short yen position, reinforcing a broader macro consensus toward a weaker US dollar. The pivot from lithium to soybeans suggests a shift from high-growth battery metals toward more traditional agricultural commodities.

HFEQ provides the pure equity beta for the suite, maintaining a highly aggressive 182.3% net exposure. The fund is doubling down on growth and cyclicality, evidenced by significant increases in the Nasdaq 100, value equities, emerging market indices, and the Euro Stoxx 50. The addition to the materials sector further confirms a bullish outlook on global industrial demand. Collectively, the suite is positioning for a synchronized global recovery where emerging markets and cyclical sectors outperform, supported by a weakening US dollar and stabilizing interest rates.