Performance Attribution Report — July 2026 (Net of Fees)
Period: 02 Feb 2026 to 31 Jul 2026
Performance Summary
| July 2026 | Since Inception |
|---|
| Fund Return (NAV) |
-5.86% |
+4.70% |
| S&P 500 Return |
+0.09% |
+7.36% |
| Active Return |
-5.95% |
-2.66% |
Portfolio – Avg Exposure & Entry Prices [2026-02-02 → 2026-07-31]
| Instrument | Mnemonic | Avg Entry Price (USD) | Avg Exposure (%) |
|---|
| Energy | SXLE.L | 39.95 | 6.6% |
| Materials | IUMS.L | 9.19 | 8.7% |
| Industrials | IUIS.L | 13.09 | 10.6% |
| ConsDiscretionary | SXLY.L | 46.37 | 3.3% |
| ConsStaples | SXLP.L | 41.58 | 11.3% |
| HealthCare | SXLV.L | 43.05 | 8.9% |
| Financials | SXLF.L | 52.64 | 11.7% |
| IT | SXLK.L | 125.97 | 14.9% |
| CommServices | SXLC.L | 34.05 | 4.4% |
| Utilities | SXLU.L | 49.91 | 14.3% |
| REITS | XRES.L | 20.95 | 5.3% |
| ETF sleeve (total) | | | 46.9% |
| MES Futures (RoRo) | MES | 7,235.45 | 54.3% |
| MES Futures Long/Short (signed) | MES | 7,235.45 | 37.9% |
| PULS (Cash_Carry) | PULS | 49.60 | 29.8% |
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