Easterly Snow Long/Short Opportunity Fund
Data updated: 2026-07-20
C000230312 — Easterly Snow Long/Short Opportunity Fund. United States Mid Cap Value Equity · $110.96M AUM. Holdings, fees, performance and SEC filings.
C000230312 Fund Overview
Easterly Snow Long/Short Opportunity Fund is a US mutual fund managed by James Alpha Funds Trust, categorised as United States Mid Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: James Alpha Funds Trust
- Category: United States Mid Cap Value Equity
- Assets under management: $110.96M
- 1-year return: 28.9%
- SEC CIK: 0001829774
- SEC series ID: S000073424
- Share class ID: C000230312
C000230312 Investment Objective and Strategy
Easterly Snow Long/Short Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by James Alpha Funds Trust.
Investment objective
The investment objective of the Easterly Snow Long/Short Opportunity Fund (the ?Long/Short Opportunity Fund? or the ?Fund?) is long-term capital appreciation and protection of investment principal.
Principal investment strategy
To achieve its investment objective, the Long/Short Opportunity Fund will invest primarily in equity securities that Easterly Investment Partners LLC (?Easterly? or the ?Adviser?), the Fund?s investment adviser, believes are undervalued, selling short equity securities the Adviser believes are overvalued and selling short equity securities to hedge market risk. The Fund may also invest in options, futures contracts and options on futures contracts (collectively, ?Derivative Instruments?) as a substitute for a comparable market position in the underlying equity security or to attempt to ?hedge? or limit the exposure of the Fund?s position in an equity security. Long and short investments can include common and preferred stocks, convertible securities, shares of other investment companies and exchange-traded funds (?ETFs?) that invest in equity securities.
With a long position, the Fund purchases a security outright, while with a short position, the Fund sells a security that it has borrowed. When the Fund sells a security short, it borrows the security from a third party and sells it at the then-current market price. The Fund is then obligated to buy the security on a later date so that it can return the security to the lender. The Fund may invest in securities of companies of any size and is not managed toward sector or industry weights. In addition to domestic securities, the Fund may have up to 25% of its net assets invested directly or indirectly in foreign securities. In addition to equity securities, the Fund may invest up to 50% of its net assets in debt securities of varying maturities and durations, including securities issued or guaranteed as to principal and interest by the U.S.
Government or its agencies, instrumentalities or sponsored entities, and including debt securities that have been rated below investment grade by a nationally recognized statistical ratings organization (?NRSRO?), commonly referred to as ?junk bonds? or ?high yield bonds.? However, the Fund will not purchase debt securities rated as in default by an NRSRO. The Fund invests in debt securities when it anticipates that such securities will increase in value. The Fund?s mix of long positions, including debt securities, and short positions will change over time based on the Adviser?s assessment of market conditions. In addition to direct investments in debt securities, the Fund may invest in other investment companies and ETFs that invest in debt securities. The Adviser selects investments for the Fund using a bottom-up approach that seeks to identify companies that the Adviser believes are undervalued and are likely to experience a rebound in earnings due to an event or series of events that creates a price to earnings expansion that leads to higher stock price valuations.
The Adviser generally attempts to purchase equity securities for the Fund?s portfolio after an event in which the company?s equity valuation has fallen and business conditions are unfavorable, if not at or near a cyclical bottom. This is done in conjunction with extensive research to confirm the Adviser?s opinion that a company can survive the near-term problems. While the Adviser?s analysis does not eliminate the occurrence of short-term equity valuation volatility, the Adviser believes that this process provides for a reasonable level of capital protection. The Fund?s portfolio typically consists of 30 to 60 long equity securities that are weighted according to the Adviser?s projected return expectations. In general, the Adviser may sell an investment when it reaches its target price, when the position grows too large, when the company?s financial position or outlook deteriorates, when an anticipated business catalyst for the investment does not materialize as expected, or to make room in the Fund for a more attractive investment.
C000230312 Holdings
Top 10 holdings of Easterly Snow Long/Short Opportunity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| B2gold Corp. | 4.29% |
| Dell Technologies, Inc. | 4.17% |
| Jp Morgan Chase & Company | 3.48% |
| Conocophillips | 3.31% |
| Pvh Corp. | 3.21% |
| Range Resources Corp. | 3.11% |
| Citigroup, Inc. | 2.92% |
| Pacira Biosciences, Inc. | 2.90% |
| Whitecap Resources, Inc. | 2.82% |
| Hudbay Minerals, Inc. | 2.70% |
C000230312 Portfolio Allocation
Asset-class allocation of Easterly Snow Long/Short Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 114.1% |
| Fixed Income | 3.4% |
| Cash & Equivalents | 2.3% |
C000230312 Performance
Total returns for C000230312 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.3% |
| 1 year | 28.9% |
| 3 years (annualised) | 16.6% |
C000230312 Risk Information
Risk metrics for C000230312, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.6%
C000230312 Costs and Fees
C000230312 costs about $185 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.85%
- Gross expense ratio: 1.85%
- Portfolio turnover: 24%
- Brokerage commissions: 2.60 bps of average net assets (SEC N-CEN)
C000230312 Cashflows
Over the 12 months to 2026-05, Easterly Snow Long/Short Opportunity Fund had net inflows of $2.64M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$1.41M |
| 2026-04 | $1.01M |
| 2026-03 | −$261.13K |
| 2026-02 | −$128.36K |
| 2026-01 | −$1.27M |
| 2025-12 | $5.74M |
C000230312 Debt Constituents
Largest debt holdings of Easterly Snow Long/Short Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Pbf Holding Company LLC / Pbf Finance Corp. | 0.90% |
| Ally Financial, Inc. | 0.88% |
| Cleveland-Cliffs, Inc. | 0.59% |
| Kohl's Corp. | 0.58% |
| Fmc Corp. | 0.40% |
C000230312 Prospectus and SEC Filings
Official Easterly Snow Long/Short Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-12-29
- Prospectus (485BPOS) — filed 2025-06-27
- Prospectus (485BPOS) — filed 2024-06-28
- Portfolio holdings (N-PORT) — filed 2026-07-20
- Portfolio holdings (N-PORT) — filed 2026-04-28
- Portfolio holdings (N-PORT) — filed 2026-01-29
- Annual census (N-CEN) — filed 2025-11-14
- Annual census (N-CEN) — filed 2025-05-13
Related Funds
Other United States Mid Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.