Glenmede Long/Short Portfolio
GTAPX
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- Glenmede Long/Short Equity Portfolio (GTAPX) is an open-end mutual fund managed by Glenmede Investment Management LP that seeks absolute returns consistent with reasonable risk to principal by investing primarily in long and short positions in U.S. equity securities. The fund normally allocates at least 80% of its net assets to equity securities, such as common stocks, of public companies economically tied to the United States with market capitalizations within the range of the Russell 3000 Index; it employs a quantitative, multi-factor stock selection approach using proprietary models for each sector, downside risk screens including earnings surprise indicators, and leading industry group metrics to construct a portfolio typically comprising 80-140 long holdings and 50-100 short holdings with a targeted net equity exposure of about 30% and no leverage. Sector and industry constraints limit deviations to plus or minus 3% and 2% versus the benchmark, respectively, with benchmarks including the Russell 3000 Index and a blended 70% Bloomberg U.S. Treasury Bellwether 3-Month Index/30% Russell 3000 Index; the strategy emphasizes value stocks across diversified sectors such as technology, financial services, industrials, and consumer cyclical, while maintaining significant cash positions around 69% for flexibility. Launched on September 29, 2006, and domiciled in the United States, the portfolio is available through advisor shares (GTAPX) and institutional shares (GTLSX), with total net assets of approximately $44.6 million, a net expense ratio of 2.52%, and distribution by Quasar Distributors LLC. Portfolio managers include Paul Sullivan and Vladimir de Vassal since inception, joined by Alexander Atanasiu since February 2015. Glenmede Investment Management LP, the fund's adviser and an independently owned boutique asset management firm affiliated with Glenmede Trust Company NA, is headquartered in Philadelphia, Pennsylvania, and offers the strategy via mutual funds and separately managed accounts primarily to U.S. investors including institutional and qualified clients. Recent developments include a name change from Quantitative U.S. Long/Short Equity Portfolio, as noted in a March 2025 SEC Form 497 filing, alongside similar rebrandings for affiliated portfolios such as Total Market Plus Equity Portfolio (GTTMX). In November 2024, Glenmede Investment Management appointed Elizabeth Eldridge as President, succeeding Kent Weaver to lead strategic operations. The firm launched the Energy Resilience Strategy in November 2025 for institutional and qualified investors, reflecting expanded thematic offerings, while maintaining contractual fee waivers on the Long/Short Equity Portfolio through February 28, 2026. No major acquisitions, funding rounds, or partnerships specific to GTAPX were reported in the last 1-2 years, with focus remaining on quantitative equity strategies amid performance showing 9.99% 5-year annualized returns as of late 2025.