TYPHX — Typhon Tactical Managed Futures Fund
Data updated: 2023-08-28
TYPHX — Typhon Tactical Managed Futures Fund. Commodity · $4.59M AUM · 1.76% expense ratio · -20.1% 1-yr return. Holdings, fees, performance and SEC filings.
TYPHX Fund Overview
TYPHX — Typhon Tactical Managed Futures Fund is a US mutual fund managed by Starboard Investment Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Starboard Investment Trust
- Category: Commodity
- Assets under management: $4.59M
- 1-year return: -20.1%
- Ticker: TYPHX
- SEC CIK: 0001464413
- SEC series ID: S000075105
- Share class ID: C000233929
TYPHX Investment Objective and Strategy
Typhon Tactical Managed Futures Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Starboard Investment Trust.
Investment objective
The Typhon Tactical Managed Futures Strategy Fund (the Fund) seeks to provide long-term capital appreciation and absolute return.
Principal investment strategy
The Fund pursues its investment objective by implementing a fixed income strategy and a managed futures strategy. The Fund is designed to attempt to generate higher risk-adjusted returns than the Goldman Sachs Commodity Index (the GSCI) by providing exposure to the GSCI by dynamically allocating to indexes tied to the GSCI or a portfolio of futures using a multi-strategy, multi-manager strategy (the Multi-Manager Strategy) based on whether the index has been increasing or decreasing in value over the last 1-5 months, while layering that exposure with a fixed income strategy. The Fund will invest, under normal circumstances, approximately 70-75% of the Funds assets in fixed income assets (investment grade corporate bonds, high yield corporate bonds, treasuries, and preferred securities). Additionally, the Fund may utilize exchange traded funds (ETFs) and/or mutual funds to gain exposure to fixed income securities.
The Fund may invest directly or indirectly in junk bonds, fixed income securities that are rated below investment grade (securities rated below BBB by Standard & Poors (S&P) and Baa3 by Moodys Investor Services, Inc. (Moodys). The Fund expects to invest between 25% and 50% in junk bonds. The Fund may invest in fixed income instruments with fixed or adjustable (floating) rates. The Funds fixed income securities can be of any duration or maturity. The Advisor manages the Funds fixed income strategy. The Advisors investment decision making process is based upon independent, fundamental bottom-up research to identify and invest in securities that aim to protect principal, maximize liquidity, and provide risk-adjusted returns that exceed what would have been earned if the assets were held in cash.
The Advisor plans to use macro-economic projections, fundamental company and industry analysis, and technical analysis of individual issuers to strategically position the Fund while making tactical adjustments as investing conditions change. When making tactical adjustments and selecting portfolio securities, the Advisor will consider a number of factors, including fundamental and technical analysis to assess the relative risks and reward potential. The Advisor will rely on a combination of third-party research and analytic providers. Typhon Capital Management, LLC serves as Sub-Advisor to the Fund and manages the Funds managed futures strategy. The Fund executes its managed futures strategy by investing up to 25% of its total assets in a wholly-owned and controlled subsidiary (the Subsidiary).
The Subsidiary will invest its assets in total return swaps that provide exposure to indexes tied to the GSCI and also invest in a portfolio of futures using a multi-strategy, multi-manager strategy (the Multi-Manager Strategy ). The Sub-Advisor is a Commodity Trading Advisor (CTA) and Commodity Pool Operator (CPO) registered with the United States Commodity Futures Trading Commission. The Sub-Advisor will use a systematic trading program to manage exposure to the GSCI using a total return swap. This exposure will range from 0 % to 100% of the Funds net asset value. The main factor determining the GSCI exposure is the programs determination of whether the value of the GSCI has been increasing over last 1-5 months (an uptrending environment) or has been the same or decreasing over the last 1-5 months (a downtrending environment) using technical indicators (primarily price momentum indicators).
The Sub-Advisor will also use the Multi-Manager Strategy to invest in futures with 0 % to 150% of the Funds overall net asset value. The Fund may be leveraged as a result. The Sub-Advisors systematic trading program will generally increase the GSCI exposure relative to the Multi-Manager Strategy in environments when the GSCI is in an uptrending environment and lower the relative exposure when the GSCI is in a downtrending environment as measured by the technical indicators noted above.
TYPHX Holdings
Top 10 holdings of Typhon Tactical Managed Futures Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Typhon Tactical | 21.46% |
| Treasury Bill | 7.51% |
| Syngenta Finance | 5.08% |
| Untd Air 20-1 A | 5.01% |
| Boeing Co. | 4.92% |
| Nissan Motor Acc | 4.78% |
| Ows Cre Fundin I | 4.10% |
| Stanln 7 3/4 Perp | 4.06% |
| Prudential Fin | 4.04% |
| Smbc Aviation Ca | 4.04% |
TYPHX Portfolio Allocation
Asset-class allocation of Typhon Tactical Managed Futures Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 80.6% |
| Other | 21.5% |
TYPHX Performance
Total returns for TYPHX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -20.1% |
TYPHX Risk Information
Risk metrics for TYPHX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.4%
TYPHX Costs and Fees
TYPHX costs about $176 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.76%
- Gross expense ratio: 2.84%
- Portfolio turnover: 25%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
TYPHX Cashflows
Over the 12 months to 2023-06, Typhon Tactical Managed Futures Fund had net inflows of $35.32M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | $20.55M |
| 2023-05 | $472.53K |
| 2023-04 | $1.29M |
| 2023-03 | $1.28M |
| 2023-02 | $794.59K |
| 2023-01 | $1.71M |
TYPHX Debt Constituents
Largest debt holdings of Typhon Tactical Managed Futures Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 7.51% |
| Syngenta Finance | 5.08% |
| Untd Air 20-1 A | 5.01% |
| Boeing Co. | 4.92% |
| Nissan Motor Acc | 4.78% |
| Ows Cre Fundin I | 4.10% |
| Stanln 7 3/4 Perp | 4.06% |
| Prudential Fin | 4.04% |
| Smbc Aviation Ca | 4.04% |
| GE Float PERP | 3.97% |
TYPHX Prospectus and SEC Filings
Official Typhon Tactical Managed Futures Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Commodity 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.