Macro trading is an investment strategy that takes into account both national and global macroeconomic trends.
Most global macro trading ideas are essentially so simple that even most inexperienced investors could grasp them. The difficulty does not come from the trades themselves, but from the timing of execution.
What happened: Accordingly, macro trading has emerged as the leading strategy among hedge funds over the past year to Bloomberg, with some companies making significant returns by investing in macroeconomic events.
These returns have been reported to be in the range of two and three digits in 2022. Conversely, other companies focused on technology stocks suffered significant losses amid the volatile market conditions.
Why it matters: Rokos Capital, managed by Chris Roko, traded macro in 2022, gaining 51% year-on-year. Rokos’ former employer Brevan Howard Asset Management gained 20.14% trading macro.
Which stocks and indices did Rokos Capital have in its portfolio?
By weight, according to the fund’s latest data 13F-HR At the end of the third quarter it held:
|
issuer name
|
ticker
|
% of portfolio
|
Performance 2022
|
|
microsoft corp
|
MSFT
|
4.7%
|
-28.69%
|
|
Energy Select Sector SPDR Fund
|
XL
|
4%
|
+57.60%
|
|
Southwest Energy Company
|
SWN
|
3.6%
|
+25.54%
|
|
Financial Select Sector SPDR Fund
|
XLF
|
2.6%
|
-12.2%
|
|
EQT Corp
|
EQT
|
2.4%
|
+55.11%
|
|
Bank of America Corp
|
BAK
|
2.4%
|
-25.56%
|
|
Nvidia Corp
|
NVDA
|
1.2%
|
-50.31%
|
|
apple inc
|
AAPL
|
1.1%
|
-26.83%
|
|
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