SEPQ — STF Tactical Growth & Income ETF
Data updated: 2026-08-26
SEPQ — STF Tactical Growth & Income ETF. 0.65% expense ratio · since 2022. Holdings, fees, performance and SEC filings.
SEPQ Fund Overview
SEPQ — STF Tactical Growth & Income ETF is a US ETF managed by Listed Funds Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Listed Funds Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $80.12M
- 1-year return: 30.1%
- Ticker: SEPQ
- SEC CIK: 0001683471
- SEC series ID: S000076366
- Share class ID: C000236165
SEPQ Investment Objective and Strategy
STF Tactical Growth & Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Listed Funds Trust.
Investment objective
The STF Tactical Growth & Income ETF (the Fund or Growth & Income ETF) seeks long-term growth of capital and current income.
Principal investment strategy
The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by allocating its investments among a combination of (i) U.S. equity securities of large-cap companies that are listed on The Nasdaq Stock Market or ETFs that seek to replicate the performance of an investment in such large-cap companies (the Equity Allocation), (ii) directly in, or in ETFs that hold, long-duration U.S. Treasury securities (the Fixed Income Allocation), and (iii) short-term U.S. Treasury bills, money market funds, and cash and/or cash equivalents (the Cash Equivalents). The Fund also may opportunistically employ an options spread strategy, as discussed in more detail below. The Fund considers a large-cap company to be one that has a market capitalization of $5 billion or more, measured at the time of purchase.
In making investment decisions for the Fund, STF Management LP (the Adviser), the Funds investment adviser, utilizes a proprietary, tactical unconstrained growth model (the TUG Model). The TUG Model combines both quantitative and qualitative analysis factors, but is primarily quantitative in nature. The quantitative factors underlying the TUG Model include, but are not limited to, asset class ( i.e. , equity and fixed income) and market volatility, as well as rates of change in both asset class price action ( i.e. , the price movement of securities in a particular asset class over time) and market volatility. The TUG Model is based on signals that are derived from a proprietary algorithm that tracks market price action across equities, fixed income, and commodities, to include rates of change in correlation and volatility.
In response to shifts in price action, market volatility, and correlation of the two primary asset classes based on the TUG Model, the Adviser will adjust the Funds portfolio allocations between the Equity Allocation and the Fixed Income Allocation and thereby seek to proactively adapt to current market conditions. The TUG Model provides the opportunity to take advantage of both equity bull and bear markets through the use of strategic long equity positions in addition to long Treasury and money market positions. In seeking to capitalize on the non-correlative relationship between equities and fixed income securities, the TUG Model will assess which asset class provides the best opportunity for growth in light of prevailing market conditions. For example, when the equity markets become indecisive, the TUG Model seeks to both protect and benefit the Fund from the periodic reversals in equities by allocating assets to bond and/or Cash Equivalents.
The TUG Model monitors several moving averages of various lengths to measure underlying trends within the universe of large-cap companies listed on The Nasdaq Stock Market. Multiple buy and sell signals are incorporated into the TUG Model to take advantage of evolving market conditions. As a result, the TUG Model generates unique signals in both bullish and bearish markets, as the market tends to behave differently depending on the trend. A partial allocation to Treasury bonds may be made when the equity signal is not at full strength. Options Spread Strategy The Adviser also may opportunistically invest in options to seek to enhance the Funds return. The Funds options spread strategy typically consists of two components: (i) selling call options on one or more indexes that comprise the equity securities held by the Fund on up to 100% of the value of the equity securities held by the Fund to generate premium from such options, while (ii) simultaneously reinvesting a portion of such premium to buy call options on the same index(es).
Short Call Options . A written (sold) call option gives the seller the obligation to sell shares of the reference asset at a specified price (strike price) until a specified date (expiration date). The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. In the event the reference asset appreciates above the strike price and the holder exercises the call option, the Fund will have to pay the difference between the value of the reference asset and the strike price or deliver the reference asset (which loss is offset by the premium initially received), and in the event the reference asset declines in value, the call option may end up worthless and the Fund retains the premium. The call options written by the Fund will be collateralized by the Funds equity holdings at the time the Fund sells the options.
Long Call Options . When the Fund purchases a call option, the Fund pays an amount (premium) to acquire the right to buy shares of a reference asset at a strike price until the expiration date. In the event the reference asset appreciates in value above the strike price and the Fund exercises its call option, the Fund will be entitled to receive the difference between the value of the reference asset and the strike price (which gain is offset by the premium originally paid by the Fund), and in the event the reference asset closes below the strike price as of the expiration date, the call option may end up worthless and the Funds loss is limited to the amount of premium it paid. The options purchased or sold by the Fund will typically have an expiration date approximately one month from the time of purchase or sale.
Call options written by the Fund will typically have a strike price that is at, near, or higher than the current price of the reference asset, and call options purchased by the Fund will typically have a strike price that is higher (in some cases, significantly higher) than the current price of the reference asset. The call options used by the Fund will be traded on a national securities exchange and be settled in cash. The Fund may engage in active and frequent trading of portfolio securities in implementing its principal investment strategies. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. While the Funds exposure to sectors may change over time, as of December 31, 2025, the Fund had significant exposure to companies in the Electronic Components & Semiconductors Sector.
SEPQ Holdings
Top 10 holdings of STF Tactical Growth & Income ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp | 7.64% |
| Apple Inc | 6.59% |
| Micron Technology Inc | 6.01% |
| Advanced Micro Devices Inc | 4.39% |
| Microsoft Corp | 4.29% |
| Amazon.com Inc | 3.75% |
| Alphabet Inc | 3.22% |
| Tesla Inc | 3.14% |
| Intel Corp | 3.10% |
| Broadcom Inc | 3.00% |
SEPQ Portfolio Allocation
Asset-class allocation of STF Tactical Growth & Income ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.2% |
SEPQ Performance
Total returns for SEPQ (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 19.07% |
| 1 year | 30.09% |
| 3 years (annualised) | 21.70% |
SEPQ Risk Information
Risk metrics for SEPQ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 19.14%
SEPQ Costs and Fees
SEPQ costs about $65 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.65%
- Gross expense ratio: 0.65%
- Portfolio turnover: 15%
- Brokerage commissions: 0.61 bps of average net assets (SEC N-CEN)
SEPQ Cashflows
Over the 12 months to 2026-06, STF Tactical Growth & Income ETF had net inflows of $8.69M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $2.06M |
| 2026-05 | −$6.95M |
| 2026-04 | $8.53M |
| 2026-03 | −$4.80M |
| 2026-02 | $3.07M |
| 2026-01 | −$1.28M |
SEPQ Debt Constituents
No individual debt constituents are reported in STF Tactical Growth & Income ETF's latest SEC N-PORT filing.
SEPQ Prospectus and SEC Filings
Official STF Tactical Growth & Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-30
- Prospectus supplement (497) — filed 2026-08-03
- Prospectus supplement (497) — filed 2026-03-16
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-22
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Annual census (N-CEN) — filed 2026-06-11
- Annual census (N-CEN) — filed 2025-06-12
Related Funds
Other United States Large Cap Blend / Core 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.