Own a Pershing Square–style stock basket in market uptrends; otherwise split into tactical hedges that switch among leveraged Nasdaq/S&P bear funds, Treasuries, or cash‑like T‑Bills using short‑term trend and momentum signals.

1) If the S&P 500 (SPY) is above its 200‑day average (uptrend), hold a basket like Bill Ackman’s: Hilton (HLT), Chipotle (CMG), QSR, Google (GOOGL), Howard Hughes (HHH), Canadian Pacific (CP), Brookfield (BN), Nike (NKE). 2) If not, but tech (XLK) just dipped, still hold that basket. 3) Otherwise split 50/50 into hedges that rotate among TQQQ (3x Nasdaq up), SQQQ/PSQ/SPXS/SPXU (bear funds), TLT/IEF/BND (Treasuries) or BIL (T‑Bills) using short‑term trend and momentum (RSI: a 0–100 recent‑move score).

Out-of-sample, this strategy offers better risk-adjusted exposure than the S&P 500: Sharpe ~0.51, Calmar ~0.48, and slightly smaller max drawdown (18.28% vs 18.76%). A hedged core with upside potential in uptrends.