SAFE GROWTH Daily Update

SAFE GROWTH

Friday, April 24, 2026 | Market Open, 9:00 AM EST

Today

+0.1%

Apr Open Return

+10.0%

2026 YTD

+1.6%

Unit Value

$1,950

Entry: $1,920 on Jan 22, 2026 | Cost per unit to follow today: $1,950

April 2026 — Day by Day

Date	Unit Value	Daily	Apr Open Return
2026-04-15	$1,913	-0.3%	+7.9%
2026-04-16	$1,915	+0.1%	+8.0%
2026-04-17	$1,928	+0.8%	+8.7%
2026-04-20	$1,954	+0.4%	+10.2%
2026-04-21	$1,966	+0.6%	+10.9%
2026-04-22	$1,938	-1.3%	+9.3%
2026-04-23	$1,949	+0.5%	+9.9%
2026-04-24 ◀ Today	$1,950	+0.1%	+10.0%

Apr open return vs Apr 1 ($1,773). Unit values from live Finnhub prices.

Position Scoreboard — Sorted by Portfolio Weight

Ticker

Sector

Price

Today

Since Entry

Weight

Signal

ETN

Infrastructure

$424.52

+2.6%

+26.1%

21.8%

STRONG HOLD ✅

NVDA

AI Chips

$200.10

-1.2%

+12.4%

10.3%

STRONG HOLD ✅

NUGT

3x Gold Miners

$190.70

-0.4%

-27.0%

9.8%

HOLD ✅

MSTR

Bitcoin

$176.86

+0.7%

+10.4%

9.1%

HOLD ✅

URA

Uranium ETF

$57.38

-1.3%

+6.0%

8.8%

HOLD ✅

XLE

Energy/Oil

$56.75

-0.2%

+20.0%

8.7%

HOLD ✅

PPA

Defense ETF

$168.69

-0.5%

-4.5%

8.6%

STRONG HOLD ✅

EWW

Mexico ETF

$77.84

-0.2%

+4.3%

8.0%

HOLD ✅

INDA

India ETF

$49.29

-0.8%

-4.7%

7.6%

STRONG HOLD ✅

TMF

3x Long Bonds

$35.92

-1.3%

-0.8%

7.4%

WATCH 👀

Today = vs prev close. Since Entry = vs Jan 20, 2026. Weight = % of unit. ● = category. Prices via Finnhub.

Portfolio Allocation by Category

Infrastructure & Defense

30.4%

Energy & Commodities

27.3%

AI & Tech

10.3%

Crypto Treasury

9.1%

Emerging Markets

15.6%

Bonds & Rates

7.4%

Ticker

Sector

Price

$/Unit

Weight

🏗️ Infrastructure & Defense — 30.4%

ETN

Infrastructure

×1

$424.52

21.8%

PPA

Defense ETF

×1

$168.69

8.6%

⚡ Energy & Commodities — 27.3%

NUGT

3x Gold Miners

×1

$190.70

9.8%

XLE

Energy/Oil

×3

$56.75

$170.25

8.7%

URA

Uranium ETF

×3

$57.38

$172.14

8.8%

🤖 AI & Tech — 10.3%

NVDA

AI Chips

×1

$200.10

10.3%

₿ Crypto Treasury — 9.1%

MSTR

Bitcoin Treasury

×1

$176.86

9.1%

🌏 Emerging Markets — 15.6%

EWW

Mexico ETF

×2

$77.84

$155.68

8.0%

INDA

India ETF

×3

$49.29

$147.87

7.6%

📊 Bonds & Rates — 7.4%

TMF

3x Long Bonds

×4

$35.92

$143.68

7.4%

TOTAL UNIT VALUE

$1,950

100%

Entry: $1,920 on Jan 22, 2026 | Current: $1,950 | Since entry: +1.6%

Value/unit = shares × price. Weights at today's open prices.

Monthly Track Record

Yr	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD
19	+7.6	+0.9	+2.5	+0.2	-0.8	+5.5	+1.5	+3.6	-1.6	+1.3	+1.1	+1.5	25.3%
20	+2.5	-3.0	-6.2	-0.7	+1.1	+0.8	+8.2	+9.1	-11.4	-3.3	+0.1	+7.3	4.1%
21	+4.7	+1.3	-7.9	+10.6	-4.4	+9.7	-5.1	+4.0	-4.3	+19.8	+0.5	+1.7	25.8%
22	+1.5	-6.2	+1.7	-6.2	-1.2	-18.7	+13.7	+1.7	-22.0	+31.0	+11.6	+1.8	-25.8%
23	+12.3	-12.4	+9.8	-1.8	-13.9	+13.2	+0.2	-4.4	-10.8	+0.7	+13.2	+14.0	14.7%
24	+1.4	+14.1	+9.3	+5.1	+8.8	-8.3	+1.1	-3.3	+4.5	-0.7	+15.0	-10.1	39.0%
25	+5.8	-2.5	-4.3	+1.8	+4.9	+5.0	+4.0	-1.4	+5.7	+0.1	-8.7	-2.1	7.4%
26	+3%	-3%	-8%	+10.0%▲	—	—	—	—	—	—	—	—	YTD

▲ Current month through today. YTD from Jan 22, 2026 entry.

Calculate Your Position Size

📊 Market Narrative — Friday, April 24, 2026

Safe Growth opened +0.1%, essentially flat as markets digest the latest macro developments.

The Federal Reserve is in transition — Kevin Warsh faces his Senate Banking Committee confirmation hearing today. Markets are watching closely: Warsh is a known hawk on inflation, and his testimony could reinforce expectations that rate cuts arrive later and fewer than previously priced. This is a direct headwind for our TMF position and bond exposure broadly.

The US-Iran ceasefire expires tomorrow night (Wednesday). Iran has declined peace talks in Pakistan, though the US delegation has departed. Oil slid to ~$88 today on diplomatic hopes — but if the ceasefire collapses, expect a sharp reversal. XLE and our energy exposure benefits from any oil spike. ETN and PPA are structural winners regardless of outcome as defense and infrastructure spending accelerates.

March retail sales this morning came in at +1.7% vs +1.3% expected. The core “control group” that feeds into GDP also beat. Consumer spending is holding up — a net positive for risk assets heading into earnings season.

Key catalyst tonight: Vertiv (VRT) reports earnings after the close. As the dominant supplier of AI datacenter cooling and power infrastructure, their guidance is a direct read on hyperscaler capex. A strong result is bullish for ETN and the entire AI infrastructure theme we're positioned in.

Our stance: Hold all Safe Growth positions. Diversification across infrastructure, defense, energy, and emerging markets is working as intended. Watch INDA — Indian tankers were targeted in Hormuz last week; de-escalation is needed for this position to fully recover.

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This is not financial advice. Past performance does not guarantee future results.