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Oct. 20 (UPI) — U.S. President Donald Trump insisted that a fragile cease-fire between Israel and Hamas remained in place after Israel carried out a series of deadly strikes in the south of the Palestinian enclave and the sides traded blame for clashes.

Speaking aboard Air Force One on Sunday evening Trump said the agreement would hold and that “rebels” that he did not identify were responsible for alleged violations, not, Hamas.

“Either way, it’s going to be handled properly. It’s going to be handled toughly, but properly,” Trump added.

The Israeli military said it struck dozens of targets through Sunday evening in retaliation for Hamas’ alleged “anti-tank missile and gunfire” that killed two soldiers in Rafah. Sources from hospitals in Gaza told the BBC that at least 44 people had been killed. Aid deliveries were suspended.

Hamas denied all knowledge of the attack in Rafah and reiterated its commitment to the cease-fire. It accused Israel of violations, warning that the attacks were jeopardizing the truce.

Israel Defense Forces announced late Sunday that the operation was over and that it was resuming “enforcement of the cease-fire” and would permit aid to begin to flow again Monday, but warned that any violation of it would be met with a “firm response.”

This was the worst setback since the deal came into force Oct. 10 came as Trump’s special envoy, Steve Witkoff, and son-in-law Jared Kushner were due to arrive in Israel on Monday to shore up the cease-fire and move the process forward. They were due to be joined by Vice President JD Vance on Tuesday.

The three were expected to meet with Israeli Prime Minister Benjamin Netanyahu and other top Israeli officials.

Before departing the United States, Kushner told CBS News that while the truce was fragile, he believed Hamas was acting in good faith to stick to the agreement and was “seriously looking for the bodies” of the 16 Israeli hostages it had promised to return but had yet to do so.

Vance also sought to explain the violence, saying some turbulence was normal in the early stages of any cease-fire. His schedule also includes meetings with hostage families and a visit to a humanitarian facility in Gaza.

“Hamas is going to fire on Israel. Israel’s going to have to respond, of course. There are going to be moments where you have people within Gaza that you’re [not] quite sure what they’re actually doing. But we think it has the best chance for sustainable peace,” he said.

Hamas, which has been struggling to recover the bodies of 28 hostages it agreed to hand back to Israel as part of the cease-fire deal, said Monday it had found the remains of a 13th hostage. Further details were as yet unavailable.

On Tuesday, Oriental Harbor Investment Master Fund disclosed selling 59,274 shares of ProShares UltraPro QQQ (TQQQ -1.88%) in an estimated $5.4 million trade, according to a recent SEC filing.

What Happened

According to a filing with the Securities and Exchange Commission, Oriental Harbor Investment Master Fund sold 59,274 shares of ProShares UltraPro QQQ during the quarter. The estimated transaction value was $5.4 million. The fund’s TQQQ position now stands at about 1.2 million shares, valued at $124.2 million.

What Else to Know

Following the sale, TQQQ represents 9.6% of the fund’s reportable assets under management.

Top holdings after the filing:

• NASDAQ:NVDA: $236.2 million (18.3% of AUM)
• NASDAQ:GOOGL: $224.1 million (17.4% of AUM)
• NYSEMKT:FNGU: $144.6 million (11.2% of AUM)
• NASDAQ:TQQQ: $124.2 million (9.6% of AUM)
• NASDAQ:META: $99.5 million (7.7% of AUM)

As of Tuesday’s market close, shares of TQQQ were priced at $101.13, up 33% over the past year, outperforming the S&P 500 by 20 percentage points.

ETF Overview

Company Snapshot

• TQQQ’s investment strategy seeks to deliver daily performance consistent with the fund’s objective through the use of financial instruments.
• Underlying holdings are composed of the 100 largest non-financial companies listed on the Nasdaq Stock Market.
• The fund structure is non-diversified.

ProShares UltraPro QQQ is an ETF that seeks daily returns consistent with its investment objective by tracking the Nasdaq-100 Index. By employing financial instruments, the fund aims to achieve its daily return objective.

Foolish Take

Hong Kong–based Oriental Harbor Investment Master Fund pared back its position in ProShares UltraPro QQQ last quarter, selling roughly $5.4 million worth of shares. Despite the reduction, TQQQ remains a core holding, accounting for nearly 10% of the fund’s reported assets. The ETF continues to rank just behind Nvidia, Alphabet, and FNGU, reflecting the fund’s deep concentration in leveraged and technology-driven strategies.

TQQQ, which seeks three times the daily performance of the Nasdaq-100 Index, has soared 33% in the past year, outpacing the S&P 500 by about 20 percentage points. Its top underlying exposures—Nvidia, Microsoft, Apple, and Amazon—mirror Oriental Harbor’s own equity bets, creating both alignment and amplification across the portfolio.

While leveraged ETFs like TQQQ can magnify gains, they also heighten risk when markets turn volatile. For Oriental Harbor, trimming the position may be a prudent rebalancing move after strong returns, especially given its already substantial exposure to the same megacap tech names through direct holdings and other leveraged funds like FNGU. The strategy suggests discipline, not retreat, as the fund locks in profits while maintaining a high-conviction tilt toward tech-fueled growth.

Glossary

ETF: Exchange-traded fund; a pooled investment fund traded on stock exchanges, similar to stocks.

UltraPro: Indicates an ETF aiming for leveraged returns, typically providing a multiple of the daily performance of an index.

Assets under management (AUM): The total market value of assets a fund manages on behalf of investors.

Non-diversified: A fund that invests a large portion of assets in a small number of holdings, increasing concentration risk.

Leveraged ETF: An ETF using financial instruments to amplify returns, often targeting a multiple of an index’s daily performance.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

Underlying holdings: The individual securities or assets that make up a fund’s portfolio.

Nasdaq-100 Index: An index of the 100 largest non-financial companies listed on the Nasdaq Stock Market.

Daily return objective: The fund’s goal to match or multiply the performance of its benchmark index each trading day.

Financial instruments: Contracts such as derivatives or swaps used to achieve specific investment outcomes.

Outperforming: Achieving a higher return than a specific benchmark or index over a given period.

Reportable assets: Assets that must be disclosed in regulatory filings, such as those reported to the SEC.

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