Allocation Brief Sample

Macro Regime

Late_cycle

Gold Spread State

Ticker_outperforming

Correlation Regime

Stable

L2 Kill-Switch

Clear

Gross Exposure

1.1204x

vs 1.6000x leverage target

Net Exposure

+0.5275x

Long / Short

25 / 15

Single Position Eligibility

Inactive

Full Allocation Weights

Ticker	Target Weight	Current Weight	Change	Meta Alpha	Confidence	Vol Scalar	Dispersion	Action
SPYus broad	+7.71%	+7.71%	+0.00%	+0.9273	72%	0.95×	1.43×	Hold
XLEus energy	+7.03%	+0.66%	+6.36%	+0.9636	72%	0.91×	1.06×	Trade
OIHenergy	+6.71%	-0.43%	+7.13%	+0.7455	72%	0.80×	1.50×	Trade
QQQus broad	+6.18%	+4.65%	+1.53%	+0.8909	72%	0.77×	1.19×	Trade
DIAus broad	+5.96%	+10.00%	-4.04%	+0.4182	72%	1.34×	1.41×	Trade
TAGSagriculture	+4.79%	+2.40%	+2.39%	+0.3091	72%	1.39×	1.48×	Trade
IWMus broad	+3.98%	+3.98%	+0.00%	+0.7091	72%	0.75×	0.90×	Hold
XLIus industrial	+3.19%	+3.19%	+0.00%	+0.4545	72%	1.07×	0.97×	Hold
EWGintl equity	+3.09%	+3.09%	+0.00%	+1.0000	72%	1.05×	1.45×	Hold
EWUintl equity	+3.00%	+1.00%	+2.00%	+0.6364	72%	1.48×	1.10×	Trade
EWPintl equity	+2.87%	+2.87%	+0.00%	+0.5818	72%	1.45×	1.21×	Hold
EWQintl equity	+2.86%	+2.86%	+0.00%	+0.5273	72%	1.32×	0.99×	Hold
XLYus discretionary	+2.63%	+4.63%	-2.00%	+0.3818	72%	0.82×	1.12×	Trade
XOPenergy	+2.61%	+0.80%	+1.81%	+0.8182	72%	0.64×	0.66×	Trade
GLDprecious metals	-2.58%	-2.58%	+0.00%	-0.6000	72%	0.70×	0.88×	Hold
DBAagriculture	-2.47%	+0.16%	-2.63%	-0.3818	72%	1.41×	0.61×	Trade
SLVprecious metals	-2.47%	-2.47%	+0.00%	-0.7455	72%	0.41×	1.35×	Hold
EWJintl equity	+2.46%	+2.46%	+0.00%	+0.5818	72%	1.14×	1.14×	Hold
CORNagriculture	-2.36%	-0.01%	-2.34%	-0.4182	72%	1.16×	0.65×	Trade
URNJmaterials	-2.34%	-0.73%	-1.61%	-0.7818	72%	0.32×	1.25×	Trade
EEMintl equity	+2.21%	+1.08%	+1.13%	+0.8545	72%	0.73×	1.23×	Trade
XLKus tech	+2.08%	+2.08%	+0.00%	+0.7818	72%	0.59×	0.70×	Hold
EWLintl equity	+2.02%	+3.13%	-1.11%	+0.4909	72%	1.23×	1.15×	Trade
SILprecious metals	-1.83%	-1.83%	+0.00%	-0.8909	72%	0.43×	0.59×	Hold
XLPus staples	-1.81%	-0.17%	-1.64%	-0.3091	72%	1.50×	0.52×	Trade
XLCus comms	+1.77%	+1.77%	+0.00%	+0.1273	72%	1.43×	1.05×	Hold
XLREus realestate	+1.73%	+0.70%	+1.03%	+0.2727	72%	1.11×	0.75×	Trade
WEATagriculture	+1.71%	+0.03%	+1.69%	+0.2000	72%	0.89×	1.28×	Trade
EWAintl equity	+1.68%	+1.68%	+0.00%	+0.6727	72%	0.84×	1.32×	Hold
XHBus realestate	-1.50%	-1.50%	+0.00%	-0.4545	72%	0.68×	1.03×	Hold
COPXmaterials	-1.40%	-1.40%	+0.00%	-0.8182	72%	0.34×	0.55×	Hold
XLVus health	-1.35%	-0.32%	-1.03%	-0.1636	72%	1.30×	0.85×	Trade
TLTfixed income	-1.32%	+2.24%	-3.56%	-0.1273	72%	1.09×	1.26×	Trade
MOOagriculture	+1.30%	+3.92%	-2.62%	+0.0909	72%	1.36×	1.39×	Trade
EWSintl equity	+1.24%	+1.24%	+0.00%	+0.3455	72%	1.18×	1.46×	Hold
SMCIus tech	-1.16%	-1.16%	+0.00%	-0.8545	72%	0.27×	0.57×	Hold
EWZintl equity	-1.12%	-1.12%	+0.00%	-0.2364	72%	0.93×	0.81×	Hold
XLBus materials	+1.11%	-0.49%	+1.60%	+0.2364	72%	0.86×	0.72×	Trade
URAmaterials	-1.10%	-1.10%	+0.00%	-0.5636	12%	0.45×	0.95×	Hold
EWYintl equity	-1.01%	-1.01%	+0.00%	-0.9636	72%	0.48×	1.01×	Hold
XLFus financials	-0.94%	+1.33%	-2.27%	-0.0909	72%	1.27×	1.08×	Trade
SILJprecious metals	-0.57%	-0.57%	+0.00%	-0.9273	72%	0.30×	0.54×	Hold
URNMmaterials	-0.42%	-1.58%	+1.16%	-0.5273	12%	0.55×	1.17×	Trade
BITOcrypto	-0.42%	-2.21%	+1.79%	-0.4909	12%	0.52×	1.30×	Trade
EWTintl equity	-0.30%	-0.30%	+0.00%	-0.6364	72%	0.57×	0.77×	Hold
XLUus utilities	-0.30%	-0.30%	+0.00%	-0.2000	72%	1.02×	0.68×	Hold
REMXmaterials	-0.29%	-1.92%	+1.63%	-0.3455	12%	0.50×	1.34×	Trade
GDXprecious metals	-0.25%	-1.41%	+1.16%	-0.7091	12%	0.39×	0.74×	Trade
FXIintl equity	+0.21%	-2.06%	+2.27%	+0.0545	72%	0.98×	1.37×	Trade
GDXJprecious metals	-0.19%	-1.99%	+1.79%	-0.6727	12%	0.36×	0.63×	Trade
SOYBagriculture	+0.14%	+1.17%	-1.03%	+0.0182	72%	1.25×	0.83×	Trade
LITmaterials	+0.12%	-2.20%	+2.32%	+0.1636	12%	0.61×	0.94×	Trade
KREus financials	-0.08%	-10.00%	+9.92%	-0.0182	72%	0.66×	0.92×	Trade
INDAintl equity	-0.04%	-0.04%	+0.00%	-0.0545	72%	1.20×	0.86×	Hold
EWHintl equity	+0.03%	+0.03%	+0.00%	-0.2727	72%	1.00×	0.79×	Hold

Weights shown as % of total portfolio. Vol Scalar and Dispersion are sizing multipliers applied to the base position size (1.00× = standard size).

Rebalance Recommendations

Increase long exposure. Alpha signal is strong and bullish (+0.964) at 72% model confidence. Standard sizing applied (0.91×). Current regime: weak neutral.

Flip from short to long. Alpha signal is strong and bullish (+0.745) at 72% model confidence. Position size reduced to 0.80× current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is strong and bullish (+0.891) at 72% model confidence. Position size reduced to 0.77× current volatility. Current regime: weak neutral.

Reduce long exposure. Alpha signal is moderate and bullish (+0.418) at 72% model confidence. Position size increased to 1.34× given low current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is moderate and bullish (+0.309) at 72% model confidence. Position size increased to 1.39× given low current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is strong and bullish (+0.636) at 72% model confidence. Position size increased to 1.48× given low current volatility. Current regime: weak neutral.

Reduce long exposure. Alpha signal is moderate and bullish (+0.382) at 72% model confidence. Position size reduced to 0.82× current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is strong and bullish (+0.818) at 72% model confidence. Position size reduced to 0.64× current volatility. Current regime: weak neutral.

Flip from long to short. Alpha signal is moderate and bearish (-0.382) at 72% model confidence. Position size increased to 1.41× given low current volatility. Current regime: weak neutral.

Increase short exposure. Alpha signal is moderate and bearish (-0.418) at 72% model confidence. Position size increased to 1.16× given low current volatility. Current regime: weak neutral.

Increase short exposure. Alpha signal is strong and bearish (-0.782) at 72% model confidence. Position size reduced to 0.32× current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is strong and bullish (+0.855) at 72% model confidence. Position size reduced to 0.73× current volatility. Current regime: weak neutral.

Reduce long exposure. Alpha signal is moderate and bullish (+0.491) at 72% model confidence. Position size increased to 1.23× given low current volatility. Current regime: weak neutral.

Increase short exposure. Alpha signal is moderate and bearish (-0.309) at 72% model confidence. Position size increased to 1.50× given low current volatility. Current regime: weak neutral.

Increase long exposure. Alpha signal is moderate and bullish (+0.273) at 72% model confidence. Standard sizing applied (1.11×). Current regime: weak neutral.

Increase long exposure. Alpha signal is moderate and bullish (+0.200) at 72% model confidence. Standard sizing applied (0.89×). Current regime: weak neutral.

Increase short exposure. Alpha signal is moderate and bearish (-0.164) at 72% model confidence. Position size increased to 1.30× given low current volatility. Current regime: weak neutral.

Flip from long to short. Alpha signal is weak and bearish (-0.127) at 72% model confidence. Standard sizing applied (1.09×). Current regime: weak neutral.

Reduce long exposure. Alpha signal is weak and bullish (+0.091) at 72% model confidence. Position size increased to 1.36× given low current volatility. Current regime: weak neutral.

Flip from short to long. Alpha signal is moderate and bullish (+0.236) at 72% model confidence. Standard sizing applied (0.86×). Current regime: weak neutral.

Flip from long to short. Alpha signal is weak and bearish (-0.091) at 72% model confidence. Position size increased to 1.27× given low current volatility. Current regime: weak neutral.

Reduce short exposure. Alpha signal is strong and bearish (-0.527) at 12% model confidence. Position size reduced to 0.55× current volatility. Current regime: weak neutral.

Reduce short exposure. Alpha signal is moderate and bearish (-0.491) at 12% model confidence. Position size reduced to 0.52× current volatility. Current regime: weak neutral.

Reduce short exposure. Alpha signal is moderate and bearish (-0.345) at 12% model confidence. Position size reduced to 0.50× current volatility. Current regime: weak neutral.

Reduce short exposure. Alpha signal is strong and bearish (-0.709) at 12% model confidence. Position size reduced to 0.39× current volatility. Current regime: weak neutral.

Flip from short to long. Alpha signal is weak and bullish (+0.055) at 72% model confidence. Standard sizing applied (0.98×). Current regime: weak neutral.

Reduce short exposure. Alpha signal is strong and bearish (-0.673) at 12% model confidence. Position size reduced to 0.36× current volatility. Current regime: weak neutral.

Reduce long exposure. Alpha signal is weak and bullish (+0.018) at 72% model confidence. Position size increased to 1.25× given low current volatility. Current regime: weak neutral.

Flip from short to long. Alpha signal is moderate and bullish (+0.164) at 12% model confidence. Position size reduced to 0.61× current volatility. Current regime: weak neutral.

Reduce short exposure. Alpha signal is weak and bearish (-0.018) at 72% model confidence. Position size reduced to 0.66× current volatility. Current regime: weak neutral.

Multi-Model Consensus — Top Positions

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.480, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.479, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.402, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.671, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model's recent ic on this ticker is near zero (ic=-0.008, n=63) — treat with caution.

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.502, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.506, n=63).

1 of 1 active signal(s) bullish: Alpha Model. Model has predicted this ticker well recently (ic=+0.379, n=63).

Stat-Arb Pairs

No active stat-arb pairs in the current regime · gross stat-arb exposure 0.00x. Pairs activate automatically when the correlation regime and spread z-scores meet entry thresholds.

Book Integrity

Book integrity check — L3 target book vs. held position ledger25 / 55 reconciled · 30 discrepancy(ies)

Ticker	L3 Current Weight	Held Weight
XLE	+0.66%	+7.03%
OIH	-0.43%	+6.71%
QQQ	+4.65%	+6.18%
DIA	+10.00%	+5.96%
TAGS	+2.40%	+4.79%
EWU	+1.00%	+3.00%
XLY	+4.63%	+2.63%
XOP	+0.80%	+2.61%
DBA	+0.16%	-2.47%
CORN	-0.01%	-2.36%
URNJ	-0.73%	-2.34%
EEM	+1.08%	+2.21%
EWL	+3.13%	+2.02%
XLP	-0.17%	-1.81%
XLRE	+0.70%	+1.73%
WEAT	+0.03%	+1.71%
XLV	-0.32%	-1.35%
TLT	+2.24%	-1.32%
MOO	+3.92%	+1.30%
XLB	-0.49%	+1.11%
XLF	+1.33%	-0.94%
URNM	-1.58%	-0.42%
BITO	-2.21%	-0.42%
REMX	-1.92%	-0.29%
GDX	-1.41%	-0.25%
FXI	-2.06%	+0.21%
GDXJ	-1.99%	-0.19%
SOYB	+1.17%	+0.14%
LIT	-2.20%	+0.12%
KRE	-10.00%	-0.08%