TOEWS CORP /ADV

TOEWS CORP /ADV is a wealth-management firm allocating client money, running a $259.2M US long book across 6 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHARES CORE S&P 500 ETF, PGIM AAA CLO ETF, TOEWS AGILITY SHARES MANAGED, ISHARES FLOATING RATE BOND E, ISHARES AAA CLO ACT ETF-USDI.

Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.