TFA AlphaGen Growth Fund Receives Prestigious 5-Star Morningstar Rating

By Drew Horter

The TFA AlphaGen Growth Fund is a flexible, multi-strategy capital appreciation fund designed to tactically generate alpha by adapting to market leadership. Managed by Heritage Capital Advisors, the fund incorporates a blend of investment strategies that adjust with changing market environments.

In 2025, TFAGX allocated meaningful assets to high-conviction stock selection strategies centered on technology-driven themes — areas that have delivered significant outperformance. Recognizing the potential for volatility within this space, the fund has also employed hedging and risk-managed techniques during periods of elevated market risk.

Beyond thematic exposure, TFAGX continues to leverage its AI-driven timing model, multiple unconstrained long/short strategies (currently calibrated to longer-term time horizons), and disciplined sector-leadership approaches.

We’re also proud to announce that TFAGX has officially earned a 5-Star Morningstar Rating — a milestone we’ve always envisioned for this strategy, and the very reason we named it AlphaGen Growth. The refinements made in recent years are clearly delivering, and this recognition validates the strength and rigor of the work behind the scenes.

That said, the true opportunity for this fund to distinguish itself is during market downturns — when disciplined risk management, tactical responsiveness, and an unwavering focus on protecting client assets matter most.

Morningstar Article

TFAGX was given this rating by Morningstar based on data from November 17, 2025 . Neither Heritage Capital Advisors nor Horter Investment Management provided compensation for this rating. Investment advisory services offered through Horter Investment Management, LLC, a SEC-Registered Investment Advisor. Horter Investment Management does not provide legal or tax advice. Tax Planning services are provided by Milestone Tax Center. Investment Advisor Representatives of Horter Investment Management may only conduct business with residents of the states and jurisdictions in which they are properly registered or exempt from registration requirements. Securities transactions for Horter Investment Management clients are placed through AXOS Advisor Services, Charles Schwab & Co and Nationwide Advisory Solutions.

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We describe the Horter investment management platform by using the terms “Low Risk” and “Low Volatility” to emphasize the strategies employed by our money managers. However, notwithstanding the risk management strategies employed by these money managers, certain investment portfolios employed by our money managers present a greater degree of investment risk than others depending upon the performance of the underlying securities. We typically refer to these strategies as “Moderate Risk” and “Moderate Volatility”. Such performance can be impacted by a number of risk factors, including but not limited to (i) the level of price volatility (equity securities generally have greater price volatility than debt securities, (ii) changes in interest rates, and (iii) the ability of the manager to purchase or sell a security in a timely manner at desired prices.

Investment advisory services offered through Horter Investment Management, LLC, a SEC-Registered Investment Advisor. Horter Investment Management does not provide legal or tax advice. Investment Advisor Representatives of Horter Investment Management may only conduct business with residents of the states and jurisdictions in which they are properly registered or exempt from registration requirements. Insurance and annuity products are sold separately through Horter Financial Strategies, LLC. Securities transactions for Horter Investment Management clients are placed through AXOS Advisor Services, Charles Schwab & Co. and Nationwide Advisory Solutions.