Key Highlights

  • The Ten Cap Alpha Plus Complex ETF (ASX:TCAP) takes both long and short positions in selected Australian shares.
  • The portfolio holds 107 companies, with the ten largest accounting for 51.79% of the fund.
  • The benchmark is the S&P/ASX 200 Accumulation Total Return index in Australian dollars.
  • Units were priced at $9.85, unchanged on the trading day.

The Ten Cap Alpha Plus Complex ETF (ASX:TCAP) is a long-short fund that invests in selected Australian shares on both sides of the market. As of 11 November 2026, the units were priced at $9.85, with no change on the day. The fund holds 107 companies and was admitted to the ASX on 24 November 2025. The fund's long and short structure means its positions are split between shares expected to rise and shares expected to fall, and this structure forms the basis of the fund's stated return aim.

Ticker

ASX:TCAP

Category

Equity Australia Long Short

Benchmark

S&P/ASX 200 Accumulation TR AUD

Admitted to ASX

24 November 2025

Last price

$9.85 (0.00%)

Total holdings

107 companies

Top 10 holdings share

51.79%

Objective

The fund aims to achieve positive returns in excess of its benchmark, before fees and expenses, over the long term. It seeks to do this by taking both long positions and short positions in selected Australian shares.

The use of short positions allows the fund to take exposure to shares the manager expects to decline, alongside the long positions in shares expected to rise. The combined structure is intended to shape the fund's market exposure.

The long-term time frame in the objective indicates that results are measured over extended periods rather than over single trading sessions.

Long positions are shares the manager expects to increase in value, while short positions are shares the manager expects to decline. The fund's exposure is the net result of these two groups of positions.

Portfolio Profile

The portfolio holds 107 companies, with the ten largest positions accounting for 51.79% of the fund. The remaining 48.21% is spread across the other holdings, showing the breadth of the portfolio.

The fund is categorised as Equity Australia Long Short, and its benchmark is the S&P/ASX 200 Accumulation Total Return index in Australian dollars.

The benchmark is the S&P/ASX 200 Accumulation Total Return index, which provides the reference point for the stated aim of positive returns in excess of the benchmark. The objective is measured over the long term.

Listing and Trading

The fund was admitted to the ASX on 24 November 2025. The fund's distribution record includes payments of 11.6 cents per unit in July 2026 and 14.3 cents in January 2026.

The units recorded no trading Volume on the day, and the bid-offer range was $9.18 to $9.89. The fund's size is recorded as zero in the current figures.

The fund's distribution record shows payments in July 2026 and January 2026, reflecting the income received on the underlying positions. The amounts are determined by the manager and can change across periods.

Final Word

The fund uses long and short positions in Australian shares to pursue positive returns in excess of its benchmark. Its holdings count, benchmark and distribution record give readers the core reference points for reviewing the product. The fund's long-short design, benchmark reference and holdings count together describe the product's structure, and the disclosures provide further detail on the positions in each period.