Blue Tractor Group Files Seventh Amended Application with the Securities and Exchange Commission

Firm’s Shielded Alpha℠ structure would provide novel way for active managers to port their strategy into an ETF wrapper while fully protecting key sources of alpha

New York, New York, UNITED STATES

NEW YORK, May 09, 2019 (GLOBE NEWSWIRE) -- Blue Tractor Group, LLC (“Blue Tractor”) today announced that it has filed a seventh amended and restated application with the U.S. Securities and Exchange Commission (“SEC”) for its innovative Shielded Alpha℠ ETF structure for use by active portfolio managers.

A Shielded Alpha℠ ETF would be highly transparent, disclosing to the market through the daily portfolio composition file (“PCF”) basket all the names of a fund’s portfolio holdings, but importantly, not the actual portfolio weightings, thereby fully obscuring an active manager’s alpha generation strategy. Moreover, the PCF basket would have a minimum 90% asset value overlap to the fund’s actual portfolio at the beginning of each trading day.

Because the PCF basket would hold all the portfolio names and have 90% asset value overlap, a Shielded Alpha℠ ETF would not be a non-transparent ETF. The SEC has yet to approve the Shielded Alpha℠ ETF structure.

Blue Tractor notes that on April 8, 2019, the SEC announced its intent to approve an application for a non-transparent ETF structure and other parties are currently applying to the SEC for approval of their own variations of a non-transparent ETF.

Because a Shielded Alpha℠ ETF would not be a non-transparent ETF, Blue Tractor’s proposal would give asset managers additional choice over what type of actively managed ETF structure to utilize.

Said Terry Norman, Founder of Blue Tractor, “Transparency has been a hallmark of existing ETFs. The Shielded Alpha℠ ETF structure would provide a high level of transparency while still fully protecting a portfolio manager’s investment process.”

Added Simon Goulet, Co-Founder of Blue Tractor, “We remain buoyed by the timely feedback from the staff at the SEC as we continue to move through the application process.”

Blue Tractor’s application, filed on May 8, 2019, was prepared by Michael W. Mundt, Partner in the Washington, D.C. office of Stradley Ronon Stevens & Young, LLP and is available for review on the SEC’s website through the EDGAR database at

Blue Tractor seeks to enter into licensing agreements with investment advisers to utilize the Shielded Alpha℠ solution to bring to market their own Shielded Alpha℠ ETFs.

About Blue Tractor Group
Blue Tractor Group, LLC develops proprietary solutions to facilitate novel exchange traded fund products. Blue Tractor’s Shielded Alpha℠ ETF structure (patent pending) permits active fund management within an ETF wrapper, while fully shielding the fund’s proprietary alpha strategy. More information can be found at

Chris Sullivan/David Savino
MacMillan Communications
(212) 473-4442