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Hedgeye 130/30 Equity ETF employs a 130/30 active extension strategy, utilizing fundamental research and technical signals to short stocks with deteriorating fundamentals and reinvest proceeds into high-conviction long ideas. Led by veteran portfolio manager R. Patrick Kent, the fund maintains approximately 100% net market exposure across 35-55 long and 15-30 short U.S. equity positions spanning all market capitalizations. The portfolio is dynamically adjusted based on the proprietary Hedgeye GIP model, aiming to provide more efficient risk-adjusted returns than traditional long-only benchmarks by capturing alpha from both positive and negative convictions.