LBAY Crosses $100 Million in Assets Under Management

January 25, 2023

Leatherback Long/Short Alternative Yield ETF (LBAY) Surpasses $100 Million in Assets Under Management

Leatherback Asset Management (Leatherback) is proud to announce that its first exchange traded fund (ETF), the Leatherback Long/Short Alternative Yield ETF (LBAY) has surpassed $100 million in assets under management as of January 18, 2023.

LBAY was launched in partnership with Tidal Financial Group in November 2020. The fund is managed by Michael Winter, CFA, who founded Leatherback with industry veteran William Suzor, CFA.

“This milestone validates that the ETF wrapper can lend itself to actively managed long/short strategies. Leatherback is thankful to our industry partners and fund investors for supporting us since inception,” said Mr. Winter. “This is an exciting step for Leatherback, and we look forward to continuing to deliver on our mission to provide income generation and capital appreciation with less correlation to equity markets in a cost-effective ETF.”

LBAY is designed to be an actively managed alternative yield strategy that provides a cost-effective, liquid, and potentially tax efficient means for investors to add a high-quality long/short allocation with targeted monthly distributions to their respective portfolios.

LBAY holds long positions in equity securities and other publicly traded instruments that appear well-positioned to deliver attractive yields to shareholders, while simultaneously seeking to identify idiosyncratic opportunities where a security’s price may be poised to decline and will build short positions as determined by the Fund’s management.

In addition to recently crossing the $100MM AUM milestone, LBAY outperformed the S&P 500 Index in 2022, delivering over a 22% cumulative total return as of December 31, 2022.

Eric Falkeis, Co-Founder and CGO of Tidal Financial Group said, “We at Tidal are so proud to be the platform supporting Leatherback and LBAY. The continued growth of the fund is exciting to watch, and we hope to watch LBAY thrive for many years to come.”



The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 417-0090. The gross expense ratio for the fund is 1.32%.

View LBAY standardized performance here.

Leatherback, Tidal and Foreside are not affiliated.


* The S&P 500 Index includes 500 leading companies and covers approximately 80% of the available market capitalization. Indexes are unmanaged and it is not possible to invest in an index.