NAV per share: 1.0322
Performance since inception: 2.47%


Markets were turbulent this week given Trump’s attempt to acquire Greenland, which almost sparked a trade war. Tuesday’s open saw a gap down but recovered after Trump reversed course and pared back his tariff and military threats.

The rebound benefited our portfolio as almost all other funds turned positive, with the exception of U.S. Treasuries as the yield curve steepened. Safe-haven assets such as gold and silver maintained strong momentum and continue to hit all-time highs as uncertainty persists. The dollar index also fell last week as the market remains skeptical about the USD’s stability.

Last week, our India position was stopped out. Despite this, after further consideration, I’ve decided to rebalance only once every 4 weeks to further reduce operating costs. Therefore, there won’t be any rebalancing this week.