HCM Tactical Plus Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, HCM Tactical Plus Fund held 32 positions with $2.21B in net assets. Its ten largest holdings made up 93.4% of the fund. The HCMGX share class costs 1.98% a year. Over the 12 months to May 2026, HCMGX returned 43.0%, with dividends reinvested. In 2026 Q2 it added 4 new positions and exited 1.
Long-term capital appreciation.
The fund uses a proprietary quantitative model called HCM-BuyLine that analyzes equity market trends to determine tactical allocation between equities and cash. When the model identifies an uptrend, the fund increases exposure to domestic equity securities and investment companies (including leveraged funds); when it identifies a downtrend, the fund shifts to cash, cash equivalents, or put options to reduce equity exposure and volatility. The fund may also hold call options when in the market and invests across sectors selected by the model based on relative strength. Because the fund's equity allocation and sector positioning depend entirely on the HCM-BuyLine's trend signals, performance will diverge from the broad market when those signals prove incorrect.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
INVESCO QQQ TRUST, SERIES 1 | 18.45% | $408.11M | 554.2K | $736.40 |
PROSHARES TRUST | 17.54% | $388.10M | 5.8M | $67.38 |
PROSHARES TRUST | 16.62% | $367.72M | 3.8M | $96.76 |
PROSHARES TRUST | 11.10% | $245.65M | 3.0M | $81.00 |
VANGUARD WORLD FUND | 9.03% | $199.87M | 2.3M | $87.91 |
TIDAL TRUST I | 4.88% | $107.94M | 3.9M | $27.65 |
ISHARES TRUST | 4.73% | $104.70M | 163.4K | $640.76 |
VANECK ETF TRUST | 4.18% | $92.41M | 140.9K | $655.89 |
HCM BBH SWEEP | 3.54% | $78.21M | — | — |
VANGUARD INDEX FUNDS | 3.37% | $74.55M | 865.4K | $86.14 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 32 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.58% |
| Cash & short-term | 3.54% |
How it has done
HCMGX share class · total returns with dividends reinvested
Volatility over the last 12 months: 21.93%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.98% | +43.03% | +102.01% | +80.91% | -15.68% | |
| 2.73% | +42.01% | +97.56% | +74.23% | -15.82% | |
| 1.73% | +43.40% | +103.56% | +83.27% | -15.60% | |
| — | +43.03% | +102.00% | +80.95% | -15.67% |
These classes hold the same portfolio, so the 9.04pp spread over 5 years is the cost difference between them — roughly 1.81pp a year — not a difference in what they own.
Fees & fund details
HCM Tactical Plus Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 1.73% – 2.73%· HCMGX 1.98%
- Portfolio turnover
- 264.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
4 new· the largest 2
1 exited
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — HCMGX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”