North American Portfolio Separately Managed Account (SMA) Open to Wholesale & Sophisticated Investors Only

North American Portfolio – January 2026

Energy transition & AI infrastructure winners. Active risk control.

High‑conviction exposure to U.S. and Canadian equities, designed to participate in upside while actively managing downside risk across market regimes. The portfolio targets companies enabling electrification, grid build‑out, clean power and AI‑infrastructure supply chains.

How to Invest FAQ

North American Portfolio — SMA Facts

AttributeDetails
NameEmit Capital North American Portfolio
StructureSeparately Managed Account (SMA)
Investor TypeWholesale
Asset ClassGlobal Listed Equities
RegionsUS, Canada
Strategy Inception31 July 2019
Number of Holdings15–25
Cash Range5–15%
Minimum Initial InvestmentA$250,000 (or equivalent)
PricingDaily
Prime BrokerInteractive Brokers (IBKR)

SMA Summary

Strategy objective: Long‑only North American equities with active risk management overlay

Benchmark: MSCI ACWI NR (to Feb 2025) / S&P 500 thereafter

Currency exposure: AUD & USD reporting available

Risk management: Index hedging, options overlays, tactical cash

Suitable investors: Wholesale & sophisticated investors seeking long‑term capital growth

Positioning

Built for an environment where electrification, grid build‑out and AI‑infrastructure capex can drive outsized winners — while rates, USD and liquidity can reprice risk quickly.

Risk: The portfolio is positioned for a market environment where electrification, grid expansion, and AI-infrastructure capital expenditure drive differentiated earnings growth, while acknowledging that interest rates, USD strength, and liquidity conditions can reprice risk rapidly across asset classes.

Opportunity: Structural power and network bottlenecks, alongside continued expansion across the AI supply chain, create attractive opportunities within select industrials, utilities, and critical infrastructure enablers with durable cash-flow visibility.

Performance

North American Portfolio vs S&P 500

AUD: North American Portfolio vs S&P 500 (base value series).

Returns

As at 31 Jan 2026
1mth3mth6mth1yr2yrSI p.aSI
North American Portfolio 1.5%-0.5%17.5%39.5%29.6%31.5%494.0%
S&P 500 -2.9%-4.6%1.0%3.7%15.1%12.3%112.5%
Active return 4.3%4.2%16.5%35.8%14.5%19.2%381.5%
Benchmark note: ACWI NR to 28 Feb 2025 and S&P 500 thereafter. Performance includes realised/unrealised P&L, dividends, interest, and reinvestment of income. Individual account performance may vary due to fees, timing, and allocation differences.