A quick update on performance, noting markets sold of sharply overnight after Trump's comments on new China tarriffs. The fund is currently up 3.1% in October with 95% of capital now in cash.
Oct 11, 2025
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3 min read
Hi {{first_name}}
A quick update on fund perfomance, noting markets sold off sharply overnight after Trump’s comments on new China tariffs.
The pace of the sell off wasn’t a surprise to us since positioning has been stretched for some time. Major US indices are now down roughly 2% for the month.
At the end of September, we had pre-emptively reduced long exposure to 45%, and net exposure to 25% with hedges in place. Last night, majority of our trailing stops were hit and the hedge protected the portfolio as intended.
The fund is currently up 3.1% in October with 95% of capital now in cash, giving us flexibility to redeploy into opportunities as they emerge this month.
We’ll share more detail on holdings, contributors, and detractors in the full month end update.
As always, feel free to reach out any time if you’d like more detail.
Regards
Portfolio Manager The Laser Beam Fund
Hedge Partners Pty Ltd ACN 685 627 954, trading as Laser Beam Capital (Hedge Partners) is a Corporate Authorised Representative (CAR No. 1314946) of Non Correlated Advisors Pty Ltd ACN 158 314 982 (AFSL No. 430126). Hayden Beamish is an Authorised Representative (AR No. 1314950) of the same AFSL holder. Hedge Partners and Hayden Beamish are authorised to provide general advice only to wholesale investors. Nothing in this communication constitutes an investment offering unless expressly stated. Past performance is not a reliable indicator of future performance. This email is for information only and is not investment or financial advice. Before acting on any information, obtain independent taxation, financial and legal advice and consider it carefully. This email and any attachments are confidential and intended only for the named recipient. If you are not that person, please delete it and notify the sender. Email transmission cannot be guaranteed to be secure or error free. The sender accepts no liability for any viruses, errors or omissions arising from email transmissions.
