SPDR S&P 500 ETF
target weight3.41%
directionLong
rolePrimary Vehicle
3.41% long, up from 3.36% (1.5%). Up slightly on renormalisation: 
Equity melt-up versus building recession risk held at 0.70 and SPY at 0.85 while trims elsewhere freed gross.
vs 1.1.6+0.00 —
Theses funding this position
Every thesis whose alignment contributed weight here; edge weight is the thesis own confidence.
- held security
SPDR S&P 500 ETF- holding direction
Long- holding role
Primary Vehicle- serves thesis
- Equity melt-up versus building recession risk