Wall Street still runs on coverage.
Analysts build models. Models need inputs. Inputs come from disclosed information.
No disclosure. No model. No coverage.
Which means no pricing.
I've spent 45 years finding those gaps.
Short ARKK — when investors added Cathie Wood in their model as a permanent growth engine. I didn't.
EUAD — European defense, when the geopolitical shift wasn't in anyone's forecast yet. I was early.
Every time, the same setup.
Something real is happening. Analysts can't see it yet. The market hasn't priced it.
That can’t be luck.
“Structure” is a better assessment.
And here's the structure I'm looking at now.
On February 19, President Trump ordered the Department of Defense to release government files on UAPs and extraterrestrial technology.
Ask yourself a simple question: how many sell-side analysts have a model for what happens next?
Less than one may think.
Not because they're incompetent. Because they can't model what hasn't been disclosed yet.
That's not a criticism of Wall Street. That's how Wall Street works.
And it's exactly why I look for the early window in any major theme — before the analysts arrive, before the consensus forms, before the institutional capital rotates.
Quiet. Unpriced. Uncomfortable.
I know what the objection is.
"Matt, this is speculative. There's no way to know what's in those files."
Correct.
That's the point.
When I shorted ARKK, I didn't know exactly when it would break. I knew the thesis was structurally wrong and that the market hadn't caught up yet.
When I built EUAD, I didn't know the precise timeline for European defense rearmament. I knew the budget math didn't work under the old assumptions and something had to give.
UFOD is the same discipline. Different theme.
I'm not asking the science question. I'm asking the capital allocation question:
What sectors receive budget, contract flow, and R&D acceleration — regardless of what the files actually say?
Aerospace and defense. Sensors and tracking. Compute and security. Advanced materials. Power systems.
Those five pillars show up in every scenario I've mapped.
In my experience, the analysts will adjust their models eventually.
On March 19 at 2PM ET, I'm hosting Disclosure Day — a free live webinar where I lay out the full investment framework behind UFOD.
Not the science. Not the speculation.
The thesis. The construction. The five pillars.
What we believe is a potential window of opportunity, before Wall Street has a model for any of it.
Register and you get immediate access to my free briefing: Why The UAP Thematic Frontier May Be Closer — And Far Larger — Than You Might Think.
See you Thursday at 2pm ET.
Matt
Important Risk Information
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Tuttle Capital UFO Disclosure ETF (UFOD) before investing. For a prospectus with this and other information about the fund, please call (347) 852-0548 or visit the Fund’s website. Please read the prospectus carefully before investing.
Distributor: Foreside Fund Services, LLC
Principal Risks
As with all funds, a shareholder is subject to the risk that his or her investment could lose money. The Fund is not a complete investment program and is designed for inclusion in a diversified investment portfolio. The principal risks affecting shareholders’ investments in the Fund are set forth below. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. The principal risks described herein pertain to direct risks of making an investment in the Fund and/or risks of the issuers in which the Fund invests.
Speculative Nature Risk. Government confirmation or denial of advanced alien technology is uncertain, and rumored breakthroughs might never materialize. This entire theme is highly speculative and subject to rumor cycles.
Equity Securities Risk. Since it purchases equity securities, the Fund is subject to the risk that stock prices will fall over short or extended periods of time. Historically, the equity markets have moved in cycles, and the value of the Fund’s equity securities may fluctuate from day to day. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. The prices of securities issued by such companies may suffer a decline in response. These factors contribute to price volatility, which is a principal risk of investing in the Fund.
Other Investment Companies Risk. To the extent that the Fund invests in other ETFs or investment companies, the value of an investment in the Fund is based on the performance of the underlying funds in which the Fund invests and the allocation of its assets among those ETFs or investment companies. The underlying ETFs and investment companies may change their investment goals, policies or practices and there can be no assurance that the underlying ETFs or investment companies will achieve their respective investment goals. Because the Fund invests in ETFs and other investment companies, shareholders indirectly bear a proportionate share of the expenses charged by the underlying funds in which it invests which impacts the Fund’s performance. The principal risks of an investment in the Fund include the principal risks of investing in the underlying ETFs and investment companies.
The Fund is exposed to the risks of the underlying ETFs and investment companies in which it invests in direct proportion to the amount of assets the Fund allocates to each underlying fund. One underlying fund may buy the same security that another underlying fund is selling. You would indirectly bear the costs of both trades. In addition, you may receive taxable gains from portfolio transactions by the underlying funds, as well as taxable gains from the Fund’s transactions in shares of the underlying funds. The Fund’s ability to achieve its investment goal depends, in part, upon the- Adviser’s skill in selecting an optimal mix of underlying funds.
Sector Risk. To the extent the Fund invests more heavily in particular sectors of the economy, its performance will be especially sensitive to developments that significantly affect those sectors.
Technology Sector Risk. The market prices of technology-related securities tend to exhibit a greater degree of market risk and sharp price fluctuations than other types of securities. These securities may fall in and out of favor with investors rapidly, which may cause sudden selling and dramatically lower market prices. Technology securities may be affected by intense competition, obsolescence of existing technology, general economic conditions and government regulation and may have limited product lines, markets, financial resources or personnel. Technology companies may experience dramatic and often unpredictable changes in growth rates and competition for qualified personnel. These companies are also heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely impact a company’s profitability. A small number of companies represent a large portion of the technology industry. In addition, a rising interest rate environment tends to negatively affect technology companies, those technology companies seeking to finance expansion would have increased borrowing costs, which may negatively impact earnings. Technology companies having high market valuations may appear less attractive to investors, which may cause sharp decreases in their market prices.
The views and opinions expressed herein are those of the Chief Executive Officer and Portfolio Manager for Tuttle Capital Management (TCM) and are subject to change without notice. The data and information provided is derived from sources deemed to be reliable but we cannot guarantee its accuracy. Investing in securities is subject to risk including the possible loss of principal. Trade notifications are for informational purposes only. TCM offers fully transparent ETFs and provides trade information for all actively managed ETFs. TCM's statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. Trade notification files are not provided until full trade execution at the end of a trading day. The time stamp of the email is the time of file upload and not necessarily the exact time of the trades. TCM is not a commodity trading advisor and content provided regarding commodity interests is for informational purposes only and should not be construed as a recommendation. Investment recommendations for any securities or product may be made only after a comprehensive suitability review of the investor’s financial situation.© 2025 Tuttle Capital Management, LLC (TCM). TCM is a SEC-Registered Investment Adviser. All rights reserved.