Key Highlights

  • The Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) takes long and short positions in Australian equities.
  • The fund can hold up to 150% long and up to 50% short, with net market exposure typically between 80% and 100%.
  • The portfolio contains 119 companies, and the ten largest holdings account for 40.59% of the fund.
  • Units were quoted at $11.53, down 0.25% on the trading day.

The Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) is a long-short equity product that invests in Australian shares on both sides of the market. As of 11 November 2026, the units were priced at $11.53, down 3 cents or 0.25% on the day. The fund was admitted to the ASX on 04 March 2026 and holds 119 companies. The fund's long-short structure means its market exposure is set by the balance between long and short positions, and the stated range for net exposure provides a factual framework for readers.

Ticker

ASX:FIRE

Category

Equity Australia Long Short

Benchmark

S&P/ASX 200 TR AUD

Admitted to ASX

04 March 2026

Last price

$11.53 (-0.25%)

Total holdings

119 companies

Top 10 holdings share

40.59%

Net market exposure

Typically 80% to 100%

Long and Short Positions

The fund primarily invests in Australian equities in both long and short positions. Proceeds from the short positions are reinvested in long positions, so the fund remains fully equitised and keeps its equity market exposure.

The fund's objective allows it to hold up to 150% in long positions and up to 50% in short positions. The resulting net market exposure is typically between 80% and 100%, meaning the fund's sensitivity to the broader market can differ from a fully long portfolio.

Short positions involve borrowing securities and selling them, with the aim of benefiting from price declines. The fund reinvests the proceeds of these positions in long holdings, which keeps the portfolio fully equitised and maintains its equity market exposure.

Portfolio Structure

The fund holds 119 companies. The ten largest holdings account for 40.59% of the portfolio, while the remaining 59.41% is spread across the other positions.

The fund is categorised as Equity Australia Long Short and uses the S&P/ASX 200 Total Return index in Australian dollars as its benchmark. The category groups funds that combine long and short equity positions within a single portfolio.

The permitted range of up to 150% long and up to 50% short gives the manager a defined set of limits. The typical net exposure of 80% to 100% indicates that the fund's sensitivity to the Australian share market is expected to remain within that band in most conditions.

Listing and Trading

The fund was admitted to the ASX on 04 March 2026, making it a relatively recent listing in the complex ETF segment. Its disclosure record includes a monthly report for October 2026.

On the trading day, the units recorded a Volume of 840 and were quoted within a bid-offer range of $11.56 to $11.64. The fund's unit price moved lower by 3 cents on the day.

The fund's category, Equity Australia Long Short, groups funds that combine long and short equity positions. The benchmark provides a reference for the broader market, but the fund's exposure can differ from the benchmark because of its short positions.

Final Word

The fund applies a long-short structure to Australian equities, with net exposure set within a defined range. Its portfolio size, benchmark and listing timeline offer the core factual points, and readers can determine how this structure matches their own needs. The fund's defined exposure limits, portfolio size and listing timeline give readers a clear set of reference points, and the regular disclosures show how the long and short positions are used over time.