LeaderShares AlphaFactor Tactical Focused ETF
LSAT
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ROIC.AI
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- LeaderShares AlphaFactor Tactical Focused ETF (LSAT) is an actively managed exchange-traded fund that seeks long-term capital growth through a quantitative factor-based investment methodology focused on U.S. equities. The fund invests in a diversified portfolio of equity securities or economically tied derivatives, such as equity options and total return swaps, of companies with market capitalizations of at least $1 billion and average daily trading volumes exceeding 400,000 shares; stock selection emphasizes factors including net share count reduction, free cash flow growth, dividend yield, volatility, and debt/asset ratios, with final choices based on liquidity and market capitalization. It employs a multi-factor tactical risk management overlay to detect above-average risk periods—using indicators like negative market performance, advance-decline breadth, and proprietary supply-demand economic factors—shifting primarily to money market instruments including treasury bills, certificates of deposit, commercial paper, money market funds, or U.S. government bonds, either directly or via other ETFs; the fund may concentrate in specific sectors or industries and engages in active, frequent trading with a gross expense ratio of 0.99%. LSAT trades on the NYSE Arca exchange under ticker LSAT (CUSIP 90214Q691), with total net assets of approximately $79 million and around 36 holdings as of late 2025, featuring top positions such as HCA Healthcare (3.73%), Hologic (3.71%), Spectrum Brands (3.69%), HF Sinclair (3.64%), and Travel + Leisure (3.62%). Launched on October 26, 2020, the fund is advised by Redwood Investment Management, LLC and distributed by Northern Lights Distributors, LLC (member FINRA/SIPC), targeting investors seeking risk-adjusted U.S. equity exposure across large- and mid-cap companies. In October 2025, Redwood Investment Management announced the liquidation of fellow LeaderShares ETFs ACTV (Activist Leaders ETF) and SQEW (Equity Skew ETF), signaling a strategic portfolio contraction amid a dynamic active ETF market, while LSAT continues operations with assets under management growing to over $78 million.