SGI U.S. Large Cap Core ETF

May 07, 2025

CURRENT MATERIALS

CURRENT MATERIALS

Overview

INCEPTION
03/31/2023
OBJECTIVE
Long-term capital appreciation
TICKER
SGLC
PRIMARY EXCHANGE
NYSE
CUSIP
74933W593
NET ASSETS
$82,554,806.03
PREMIUM/DISCOUNT1
-0.17%
30 DAY MEDIAN BID/ASK SPREAD2
0.31%
TRACKING ERROR
1.222%
TRACKING BASKET WEIGHT OVERLAP
0.97646800

SGI U.S. Large Cap Core ETF | An Actively Managed Semi-Transparent Exchange Traded Fund

As part of an evolution of the ETF space, semi-transparent ETFs disclose holdings quarterly, like a mutual fund. This allows potential for greater alpha3 to be generated by our proprietary portfolio trading strategy. Unlike traditional ETFs, we do not reveal our insights and decisions daily, minimizing the potential for other traders to engage in practices that may potentially harm the Fund and its shareholders. Like all ETFs, SGLC offers daily liquidity, is tax-efficient and has competitive expenses.

STRATEGY

We select stocks we believe exhibit less volatile stock price patterns, strengthening business metrics and a variety of attractive quantitative factors.

RISK MITIGATION

We continually review idiosyncratic risks associated with each stock and may sell if we deem these risks to be elevated due to sustainability, governance issues, negative exclusionary screening, legal risks, or if the risk/ return characteristics decline.

This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

  • You may have to pay more money to trade an ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
  • The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because this ETF provides less information to traders.
  • These additional risks may be even greater in bad or uncertain market conditions.
  • The SGI Large Cap Core ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes all the names of the ETF's holdings, it is not the ETF's actual portfolio.

The differences between this ETF and other ETFs may also have advantages. By keeping certain information about an ETF portfolio secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETFs' performance. If other traders are able to copy or predict an ETF's investment strategy, however, this may hurt the ETF's performance.

For additional information regarding the unique attributes and risks of this ETF, see the Prospectus .

Performance

DAILY PERFORMANCE
AS OF 2025-05-07

NAV
PRICE
$ Change
$31.15
$31.10
% Change
0.56%
0.22%

QUARTERLY PERFORMANCE%
as of 2025-03-31

Quarter
1 Year
Since Inception*
NAV
-4.89
N/A
37.37
Market
-5.15
N/A
37.15

MONTHLY PERFORMANCE%
AS OF 2025-04-30

3 Month
1 Year
Since Inception*
NAV
-9.27
-6.08
35.65
Market
-9.36
-6.34
35.43
*Inception 03/31/2023; Gross Expense Ratio 0.85% Performance greater than one year is annualized.
The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. 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. Returns less than one year are not annualized. You cannot invest directly in an index. Shares are bought and sold at market price (closing price), not net asset value (NAV), and are individually redeemed from the Fund. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time when the NAV is typically calculated. Brokerage commissions will reduce returns.

Portfolio Managers

Aash M. Shah, CFA

Head of Investments & Sr. Portfolio Manager

David Harden, Founder

President | Portfolio Manager | Chief Executive Officer | Chief Investment Officer

Tracking Basket as of 2025-05-07

Name
Ticker
CUSIP
Shares
Weight
Market Value
Cash
N/A
N/A
N/A
N/A
N/A
ETF holdings and allocations are subject to change at any time and should not be interpreted as an offer of these securities.

Holdings as of 2025-03-31

Name
Ticker
CUSIP
Shares
Weight
Market Value
Cash
26.79
0.00%
$26.79
Apple, Inc.
AAPL
037833100
13992.00
3.35%
$2,763,280.08
Arch Capital Group Limited
ACGL
G0450A105
1826.00
0.21%
$169,251.94
Adobe, Inc.
ADBE
00724F101
1249.00
0.58%
$480,827.53
Automatic Data Processing, Inc.
ADP
053015103
1265.00
0.47%
$386,052.70
Autodesk, Inc.
ADSK
052769106
690.00
0.24%
$195,518.40
Allstate Corporation
ALL
020002101
5065.00
1.25%
$1,033,614.55
Applied Materials, Inc.
AMAT
038222105
1381.00
0.26%
$215,173.61
Amgen, Inc.
AMGN
031162100
1678.00
0.56%
$462,859.52
Amazon.com, Inc.
AMZN
023135106
22095.00
5.14%
$4,244,007.60
Arista Networks, Inc.
ANET
040413205
12238.00
1.28%
$1,057,975.10
Amphenol Corporation - Class A
APH
032095101
13243.00
1.30%
$1,070,564.12
Broadcom, Inc.
AVGO
11135F101
4845.00
1.20%
$992,304.45
American Express Company
AXP
025816109
596.00
0.20%
$164,639.04
Bank of America Corporation
BAC
060505104
18956.00
0.94%
$775,869.08
Booking Holdings, Inc.
BKNG
09857L108
275.00
1.73%
$1,428,966.00
Berkshire Hathaway, Inc. - Class B
BRKB
084670702
5207.00
3.24%
$2,672,492.75
Boston Scientific Corporation
BSX
101137107
1613.00
0.20%
$169,042.40
Blackstone Group, Inc.
BX
09260D107
1308.00
0.22%
$178,071.12
Citigroup, Inc.
C
172967424
2675.00
0.23%
$187,918.75
Caterpillar, Inc.
CAT
149123101
476.00
0.18%
$152,458.04
CBRE Group, Inc. - Class A
CBRE
12504L109
7513.00
1.14%
$939,200.13
Carnival Corporation
CCL
143658300
28239.00
0.67%
$556,025.91
Colgate-Palmolive Company
CL
194162103
23965.00
2.64%
$2,177,939.20
Centene Corporation
CNC
15135B101
6888.00
0.53%
$433,392.96
ConocoPhillips
COP
20825C104
3485.00
0.37%
$305,669.35
Costco Wholesale Corporation
COST
22160K105
385.00
0.47%
$387,752.75
Corpay, Inc.
CPAY
219948106
504.00
0.20%
$164,228.40
Salesforce.com, Inc.
CRM
79466L302
1292.00
0.44%
$359,473.16
Cintas Corporation
CTAS
172908105
817.00
0.21%
$175,744.87
Corteva, Inc.
CTVA
22052L104
2675.00
0.20%
$167,134.00
Walt Disney Company
DIS
254687106
3253.00
0.40%
$332,098.77
DexCom, Inc.
DXCM
252131107
2027.00
0.20%
$168,950.45
Elevance Health Inc.
ELV
036752103
397.00
0.20%
$165,719.71
EOG Resources, Inc.
EOG
26875P101
5516.00
0.72%
$595,562.52
Equinix, Inc.
EQIX
29444U700
249.00
0.26%
$217,247.52
Entergy Corporation
ETR
29364G103
5803.00
0.59%
$488,844.72
Diamondback Energy, Inc.
FANG
25278X109
1598.00
0.25%
$207,052.86
Freeport-McMoRan, Inc.
FCX
35671D857
4131.00
0.19%
$152,929.62
Fiserv, Inc.
FI
337738108
816.00
0.18%
$148,667.04
Fox Corporation - Class B
FOX
35137L204
12634.00
0.72%
$597,840.88
Fortinet, Inc.
FTNT
34959E109
1715.00
0.22%
$183,024.80
Godaddy, Inc. - Class A
GDDY
380237107
925.00
0.21%
$169,376.75
Gilead Sciences, Inc.
GILD
375558103
2063.00
0.25%
$204,030.70
Corning Inc.
GLW
219350105
13539.00
0.74%
$607,224.15
General Motors Company
GM
37045V100
6053.00
0.33%
$275,229.91
Alphabet, Inc. - Class A
GOOGL
02079K305
22974.00
4.21%
$3,477,804.12
HCA Healthcare, Inc.
HCA
40412C101
617.00
0.27%
$222,724.66
Home Depot, Inc.
HD
437076102
2653.00
1.17%
$962,375.75
Hilton Hotels Corporation
HLT
43300A203
702.00
0.21%
$169,638.30
Incyte Corporation
INCY
45337C102
2279.00
0.16%
$135,714.45
Intuitive Surgical, Inc.
ISRG
46120E602
1504.00
0.98%
$806,369.60
iShares S&P 500 Value Index
IVE
464287408
6404.00
1.43%
$1,180,961.64
iShares Core S&P 500
IVV
464287200
2341.00
1.60%
$1,319,785.57
JPMorgan Chase & Co.
JPM
46625H100
3258.00
0.98%
$812,512.62
Kimco Realty Corporation
KIM
49446R109
7504.00
0.19%
$154,957.60
KLA-Tencor Corporation
KLAC
482480100
288.00
0.24%
$199,972.80
Kimberly Clark Corporation
KMB
494368103
1219.00
0.20%
$162,846.21
Kinder Morgan, Inc.
KMI
49456B101
6259.00
0.21%
$172,873.58
Leidos Holdings, Inc.
LDOS
525327102
1058.00
0.20%
$163,693.76
Eli Lilly And Company
LLY
532457108
1674.00
1.58%
$1,300,229.28
Lockheed Martin Corporation
LMT
539830109
340.00
0.19%
$160,248.80
Lam Research Corporation
LRCX
512807306
10560.00
0.96%
$792,633.60
Lululemon Athletica, Inc.
LULU
550021109
768.00
0.26%
$211,729.92
Mastercard, Inc.
MA
57636Q104
4428.00
3.04%
$2,507,709.24
Facebook, Inc. - Class A
META
30303M102
5977.00
4.32%
$3,567,133.37
Marsh & McLennan Companies, Inc.
MMC
571748102
753.00
0.21%
$171,616.23
MONOLITHIC PWR SYS INC COM
MPWR
609839105
462.00
0.36%
$294,160.02
Merck & Co., Inc.
MRK
58933Y105
6499.00
0.62%
$514,200.88
Morgan Stanley
MS
617446448
2207.00
0.32%
$262,853.70
MSCI, Inc.
MSCI
55354G100
302.00
0.20%
$166,906.34
Microsoft Corporation
MSFT
594918104
11847.00
6.22%
$5,133,897.45
Motorola Solutions, Inc.
MSI
620076307
352.00
0.18%
$146,132.80
M & T BANK CORP
MTB
55261F104
909.00
0.19%
$157,966.02
Norwegian Cruise Line
NCLH
G66721104
6540.00
0.14%
$113,207.40
NextEra Energy, Inc.
NEE
65339F101
2442.00
0.20%
$164,493.12
Newmont Corporation
NEM
651639106
6428.00
0.42%
$347,047.72
Netflix, Inc.
NFLX
64110L106
192.00
0.27%
$221,838.72
Northrop Grumman Corporation
NOC
666807102
1434.00
0.84%
$696,981.36
ServiceNow, Inc.
NOW
81762P102
324.00
0.39%
$318,585.96
NVIDIA Corporation
NVDA
67066G104
42841.00
6.09%
$5,028,248.17
News Corp - Class A
NWSA
65249B109
5810.00
0.20%
$163,725.80
Oneok, Inc.
OKE
682680103
1732.00
0.17%
$138,993.00
Public Service Enterprise Group, Inc.
PEG
744573106
2591.00
0.25%
$206,735.89
PepsiCo, Inc.
PEP
713448108
1063.00
0.17%
$140,225.65
Progressive Corporation
PGR
743315103
590.00
0.20%
$168,964.20
Packaging Corporation of America
PKG
695156109
2605.00
0.57%
$468,900.00
Palantir Technologies, Inc. - Class A
PLTR
69608A108
2766.00
0.37%
$305,587.68
PNC Financial Services Group Inc
PNC
693475105
8348.00
1.66%
$1,368,905.04
Qualcom, Inc.
QCOM
747525103
16167.00
2.83%
$2,332,898.10
Royal Caribbean Cruises
RCL
V7780T103
1506.00
0.42%
$343,383.06
Regeneron Pharmaceuticals, Inc.
REGN
75886F107
287.00
0.20%
$160,986.91
Ralph Lauren Corporation
RL
751212101
704.00
0.21%
$169,220.48
ResMed, Inc.
RMD
761152107
745.00
0.22%
$182,301.50
Charles Schwab Corporation
SCHW
808513105
31109.00
3.17%
$2,613,467.09
Simon Property Group, Inc.
SPG
828806109
1445.00
0.28%
$233,324.15
S&P Global, Inc.
SPGI
78409V104
546.00
0.33%
$276,117.66
State Street Corporation
STT
857477103
1840.00
0.20%
$168,360.00
Synchrony Financial
SYF
87165B103
2804.00
0.18%
$150,771.08
SYSCO Corporation
SYY
871829107
2240.00
0.19%
$157,942.40
TJX Companies, Inc.
TJX
872540109
1505.00
0.23%
$193,618.25
Targa Resources Corporation
TRGP
87612G101
870.00
0.17%
$138,234.30
Travelers Companies, Inc.
TRV
89417E109
728.00
0.24%
$195,730.08
Tyson Foods, Inc. - Class A
TSN
902494103
22017.00
1.47%
$1,214,898.06
Trane Technologies PLC
TT
G8994E103
1260.00
0.62%
$513,122.40
United Airlines Holdings, Inc.
UAL
910047109
9242.00
0.84%
$696,384.70
Universal Health Services, Inc. - Class B
UHS
913903100
5276.00
1.19%
$984,448.84
UnitedHealth Group, Inc.
UNH
91324P102
1464.00
0.69%
$572,511.84
Union Pacific Corporation
UNP
907818108
3420.00
0.89%
$731,367.00
United Parcel Service, Inc.
UPS
911312106
4560.00
0.52%
$428,457.60
U.S. Bancorp
USB
902973304
3651.00
0.18%
$150,786.30
US BANK MMDA GLOBAL FUND SERVICES 5
USBGFS5
8AMMF0A92
404620.69
0.49%
$404,620.69
Vanguard S&P 500
VOO
922908363
2667.00
1.67%
$1,375,905.30
Vertex Pharmaceuticals, Inc.
VRTX
92532F100
1117.00
0.59%
$485,693.94
Westinghouse Air Brake Technologies
WAB
929740108
1295.00
0.30%
$245,661.50
Welltower, Inc.
WELL
95040Q104
1234.00
0.23%
$186,753.56
Williams Companies, Inc.
WMB
969457100
3102.00
0.22%
$182,831.88
Walmart, Inc.
WMT
931142103
2393.00
0.29%
$236,500.19
Zebra Technologies Corporation
ZBRA
989207105
1660.00
0.52%
$427,084.80

Historical Premium/Discount

IMPORTANT INFORMATION

1Premium/Discount If the price of the ETF is trading above its NAV, the ETF is said to be trading at a “premium.” Conversely, if the price of the ETF is trading below its NAV, the ETF is said to be trading at a “discount.” In relatively calm markets, ETF prices and NAV generally stay close.
230-Day Median Bid/Ask Spread % A calculation of the Fund's median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
3Alpha is typically used to represent the value added or subtracted by active investment management strategies. It shows how an actively managed investment portfolio performed compared with the expected portfolio returns produced simply by benchmark volatility (beta) and market changes. A positive alpha shows that an investment manager has been able to capture more of the upside movement in the benchmark while softening the downswings. A negative alpha means that the manager's strategies have caught more benchmark downside than upside.

Important Risk Information

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in The SGI U.S. Large Cap Core ETF's prospectus. Read the prospectus carefully before investing.
Diversification does not eliminate the risk of experiencing investment loss.
Investing involves risk, including possible loss of principal. The Fund is a newly organized, diversified management investment company with no operating history. The goal of the Proxy Portfolio is, during all market conditions, to track closely the daily performance of the Actual Portfolio and minimize intra-day misalignment between the performance of the Proxy Portfolio and the performance of the Actual Portfolio. The Proxy Portfolio is designed to reflect the economic exposures and the risk characteristics of the Actual Portfolio on any given trading day. Securities traded on over-the-counter (“OTC”) markets are not listed and traded on an organized exchange such as the New York Stock Exchange (“NYSE”). Generally, the volume of trading in an unlisted or OTC common stock is less than the volume of trading in an exchange-listed stock. As a result, the market liquidity of some stocks in which the Fund invests may not be as great as that of exchange-listed stocks and, if the Fund were to dispose of such stocks, the Fund may have to offer the shares at a discount from recent prices or sell the shares in small lots over an extended period of time. In addition, penny stocks and pink sheet stocks can be classified as OTC stocks. Securities that can be converted into common stock, such as certain securities and preferred stock, are subject to the usual risks associated with fixed income investments, such as interest rate risk and credit risk.
ESG investing risk is the risk stemming from the ESG factors that some Underlying Funds may apply in selecting securities. Some Underlying Funds may screen out particular companies that do not meet their ESG criteria. This may affect the Underlying Funds' and the Fund's exposure to certain companies or industries and cause the Underlying Funds to forego certain investment opportunities. The Underlying Funds' results may be lower than other funds that do not use ESG ratings and/or screen out certain companies or industries. Certain Underlying Funds may screen out companies that they believe may have higher downside risk and lower ESG ratings, but investors may differ in their views of ESG characteristics. As a result, the Underlying Funds may invest in companies that do not reflect the beliefs and values of any particular investor.
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