Hedgeye / HECA
HECA Capital Allocation
Moves money across asset classes (stocks, bonds, credit, currencies, commodities, cash) using other ETFs, guided by Hedgeye's macro research. Managed by David Salem. Its shifts are the clearest read on Hedgeye's market view.
Fund's official page: holdings, prospectus and performance ↗
Daily holdings since Nov 21, 2025 (220 trading days; 26 scattered days are missing).
Assets$232.3M
NAV per share since 2025-11-21-4.0%S&P 500 same period: +15.9% (with dividends; NAV excludes distributions)
Positions12
Big moves, last 30 days18
Assets ($M)
HECA Capital Allocation
Cash & T-bills46.3% +29.0
Floating rate & CLOs33.5% +0.3
US stocks (broad)5.3% +5.3
US dollar4.5% +4.5
International stocks3.5% +3.5
Health Care2.6% -3.3
Alternatives2.0% -5.2
Consumer Staples1.3% +1.3
Other currencies1.0% +1.0
Crypto0.0% -9.8
Emerging markets0.0% -6.1
Information Technology0.0% -18.3
Bar: today. White mark: 4 weeks ago.
Recent big moves
| 10-30 | HECA | DBMF | iMGP DBi Managed Futures Strategy | Sold | 2.5% → 0.0% | Exited |
| 10-28 | HECA | CLOA | iShares AAA CLO Active ETF | Bought | 0.0% → 6.0% | Held · 8.0% |
| 10-23 | HECA | CLOZ | Eldridge BBB-B CLO ETF | Sold | 3.5% → 0.0% | Exited |
| 10-22 | HECA | QGRW | Wisdomtree US Quality Growth Fund | Sold | 1.0% → 0.0% | Exited |
| 10-22 | HECA | RECS | Columbia Research Enhanced Core ET | Sold | 4.6% → 0.0% | Exited |
| 10-19 | HECA | IBIT | iShares Bitcoin Trust ETF | Sold | 4.3% → 1.0% | Exited |
| 10-19 | HECA | XLK | State Street Technology Select Sec | Sold | 1.7% → 0.0% | Exited |
| 10-19 | HECA | CIBR | First Trust NASDAQ Cybersecurity E | Sold | 7.5% → 1.5% | Exited |
| 10-19 | HECA | IGV | iShares Expanded Tech-Software Sec | Sold | 5.9% → 1.5% | Exited |
| 10-16 | HECA | FLJP | Franklin FTSE Japan ETF | Sold | 1.4% → 0.0% | Exited |
| 10-15 | HECA | UUP | Invesco DB US Dollar Index Bullish | Bought | 0.0% → 5.0% | Held · 4.5% |
| 10-14 | HECA | FLTW | Franklin FTSE Taiwan ETF | Sold | 4.3% → 0.0% | Exited |
| 10-13 | HECA | ETHA | iShares Ethereum Trust ETF | Sold | 0.8% → 0.0% | Exited |
| 10-09 | HECA | ARKG | ARK Genomic Revolution ETF | Sold | 0.0% → 0.0% | Exited |
| 10-08 | HECA | RECS | Columbia Research Enhanced Core ET | Bought | 0.0% → 4.6% | Reversed 10-22 |
All holdings
| Ticker | Name | Sector / asset class | Weight |
|---|---|---|---|
| FLTR | VanEck IG Floating Rate ETF | Floating rate & CLOs | 12.83% |
| JAAA | Janus Henderson AAA CLO ETF | Floating rate & CLOs | 12.68% |
| CLOA | iShares AAA CLO Active ETF | Floating rate & CLOs | 8.01% |
| UUP | Invesco DB US Dollar Index Bullish | US dollar | 4.50% |
| LVHI | Franklin International Low Volatil | International stocks | 3.55% |
| RSP | Invesco S&P 500 Equal Weight ETF | US stocks (broad) | 2.77% |
| VFLO | VictoryShares Free Cash Flow ETF | US stocks (broad) | 2.52% |
| HGER | Harbor Commodity All Weather Strat | Alternatives | 1.97% |
| XLV | State Street Health Care Select Se | Health Care | 1.55% |
| XLP | State Street Consumer Staples Sele | Consumer Staples | 1.29% |
| FXY | Invesco CurrencyShares Japanese Ye | Other currencies | 1.02% |
| IHF | iShares U.S. Healthcare Providers | Health Care | 1.01% |