3EDGE Asset Management, LP

3EDGE Asset Management, LP is a wealth-management firm allocating client money, specialised in financials (100% of the long book), running a $2.07B US long book across 91 positions.

The portfolio is concentrated: the top 10 names carry 72% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: SS SPDR BB 1-3M T-BILL ETF, GLOBAL X 1-3 MONTH T-BILL, HARBOR COMMODITY ALL WEATHER, ISHARES 0-3 MONTH TREASURY B, ISHARES CORE S&P 500 ETF.

Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.