SGI U.S. Large Cap Core ETF

May 21, 2024

CURRENT MATERIALS

CURRENT MATERIALS

Overview

INCEPTION
03/31/2023
OBJECTIVE
Long-term capital appreciation
TICKER
SGLC
PRIMARY EXCHANGE
NYSE
CUSIP
74933W593
NET ASSETS
$82,550,998.29
PREMIUM/DISCOUNT1
0.10%
30 DAY MEDIAN BID/ASK SPREAD2
0.12%
TRACKING ERROR
0.48%
TRACKING BASKET WEIGHT OVERLAP
0.97764900

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 2024-05-21

NAV
PRICE
$ Change
$33.97
$34.00
% Change
0.14%
0.13%

QUARTERLY PERFORMANCE%
as of 2024-03-31

Quarter
1 Year
Since Inception*
NAV
12.57
N/A
35.63
Market
12.24
N/A
35.15

MONTHLY PERFORMANCE%
AS OF 2024-04-30

3 Month
1 Year
Since Inception*
NAV
4.65
7.52
29.55
Market
4.86
7.66
29.63
*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 2024-05-21

Name
Ticker
CUSIP
Shares
Weight
Market Value
NVIDIA Corp
NVDA
67066G104
11
6.19%
$10,492.46
Meta Platforms Inc
META
30303M102
16
4.38%
$7,434.08
Alphabet Inc
GOOGL
02079K305
40
4.20%
$7,114.00
ServiceNow Inc
NOW
81762P102
8
3.67%
$6,216.40
QUALCOMM Inc
QCOM
747525103
30
3.55%
$6,025.50
Applied Materials Inc
AMAT
038222105
27
3.49%
$5,923.80
Progressive Corp/The
PGR
743315103
28
3.46%
$5,862.64
Marathon Petroleum Corp
MPC
56585A102
33
3.44%
$5,827.14
Automatic Data Processing Inc
ADP
053015103
23
3.42%
$5,799.22
Microsoft Corp
MSFT
594918104
12
3.04%
$5,148.48
DR Horton Inc
DHI
23331A109
34
3.00%
$5,078.92
Regeneron Pharmaceuticals Inc
REGN
75886F107
5
2.93%
$4,969.75
Amazon.com Inc
AMZN
023135106
27
2.92%
$4,945.05
Union Pacific Corp
UNP
907818108
20
2.77%
$4,699.20
United Therapeutics Corp
UTHR
91307C102
16
2.60%
$4,403.04
Comcast Corp
CMCSA
20030N101
104
2.40%
$4,077.84
Owens Corning
OC
690742101
22
2.32%
$3,927.22
Simon Property Group Inc
SPG
828806109
26
2.27%
$3,847.22
Berkshire Hathaway Inc
BRK/B
084670702
8
1.96%
$3,314.96
Apple Inc
AAPL
037833100
16
1.82%
$3,077.60
LyondellBasell Industries NV
LYB
N53745100
28
1.65%
$2,803.92
First Horizon Corp
FHN
320517105
167
1.60%
$2,713.75
Merck & Co Inc
MRK
58933Y105
20
1.54%
$2,615.20
Cardinal Health Inc
CAH
14149Y108
24
1.36%
$2,304.24
Fox Corp
FOX
35137L204
71
1.27%
$2,158.40
Everest Group Ltd
EG
G3223R108
5
1.16%
$1,970.80
Mastercard Inc
MA
57636Q104
4
1.08%
$1,836.40
Lennar Corp
LEN
526057104
11
1.06%
$1,789.81
FedEx Corp
FDX
31428X106
7
1.04%
$1,766.31
ELEVANCE HEALTH INC
ELV
036752103
3
0.97%
$1,636.83
Eli Lilly & Co
LLY
532457108
2
0.95%
$1,606.34
Costco Wholesale Corp
COST
22160K105
2
0.94%
$1,601.86
Accenture PLC
ACN
G1151C101
5
0.90%
$1,518.20
Chevron Corp
CVX
166764100
9
0.85%
$1,439.73
Cheniere Energy Inc
LNG
16411R208
9
0.85%
$1,438.65
Coca-Cola Co/The
KO
191216100
22
0.82%
$1,384.02
Netflix Inc
NFLX
64110L106
2
0.77%
$1,301.22
Neurocrine Biosciences Inc
NBIX
64125C109
9
0.75%
$1,264.95
Incyte Corp
INCY
45337C102
22
0.74%
$1,262.80
Home Depot Inc/The
HD
437076102
3
0.59%
$1,008.45
Lam Research Corp
LRCX
512807108
1
0.57%
$964.00
Devon Energy Corp
DVN
25179M103
17
0.50%
$846.09
KLA CORP
KLAC
482480100
1
0.45%
$765.14
Walmart Inc
WMT
931142103
11
0.42%
$716.65
Cintas Corp
CTAS
172908105
1
0.41%
$699.95
Lululemon Athletica Inc
LULU
550021109
2
0.38%
$645.96
Arista Networks Inc
ANET
040413106
2
0.37%
$633.98
Salesforce Inc
CRM
79466L302
2
0.33%
$567.52
DocuSign Inc
DOCU
256163106
8
0.28%
$479.12
Vertex Pharmaceuticals Inc
VRTX
92532F100
1
0.26%
$442.00
Ameriprise Financial Inc
AMP
03076C106
1
0.26%
$434.08
Travelers Cos Inc/The
TRV
89417E109
2
0.26%
$432.50
Performance Food Group Co
PFGC
71377A103
6
0.25%
$429.42
Waste Management Inc
WM
94106L109
2
0.25%
$416.66
Hershey Co/The
HSY
427866108
2
0.24%
$414.70
Evercore Inc
EVR
29977A105
2
0.24%
$411.54
Arch Capital Group Ltd
ACGL
G0450A105
4
0.24%
$406.60
American Financial Group Inc/OH
AFG
025932104
3
0.23%
$397.86
TJX Cos Inc/The
TJX
872540109
4
0.23%
$390.80
Toll Brothers Inc
TOL
889478103
3
0.23%
$390.66
EMCOR Group Inc
EME
29084Q100
1
0.23%
$388.24
EPAM Systems Inc
EPAM
29414B104
2
0.23%
$382.52
Micron Technology Inc
MU
595112103
3
0.23%
$382.50
Loews Corp
L
540424108
5
0.22%
$381.05
Sysco Corp
SYY
871829107
5
0.22%
$376.60
MetLife Inc
MET
59156R108
5
0.21%
$362.95
PepsiCo Inc
PEP
713448108
2
0.21%
$362.16
ConocoPhillips
COP
20825C104
3
0.21%
$361.23
Match Group Inc
MTCH
57667L107
12
0.21%
$360.36
Universal Health Services Inc
UHS
913903100
2
0.21%
$360.40
Atlassian Corp
TEAM
049468101
2
0.21%
$356.10
PulteGroup Inc
PHM
745867101
3
0.21%
$353.70
Prudential Financial Inc
PRU
744320102
3
0.21%
$353.52
DTE Energy Co
DTE
233331107
3
0.21%
$351.54
Crowdstrike Holdings Inc
CRWD
22788C105
1
0.21%
$349.32
Gitlab Inc
GTLB
37637K108
6
0.21%
$349.02
Gap Inc/The
GPS
364760108
16
0.20%
$343.84
Pilgrim's Pride Corp
PPC
72147K108
9
0.20%
$340.11
Tapestry Inc
TPR
876030107
8
0.20%
$338.80
Ralph Lauren Corp
RL
751212101
2
0.20%
$336.00
Evergy Inc
EVRG
30034W106
6
0.20%
$333.78
Freeport-McMoRan Inc
FCX
35671D857
6
0.19%
$325.92
Valero Energy Corp
VLO
91913Y100
2
0.19%
$324.78
AGCO Corp
AGCO
001084102
3
0.19%
$324.42
HCA Healthcare Inc
HCA
40412C101
1
0.19%
$321.12
Uber Technologies Inc
UBER
90353T100
5
0.19%
$319.85
KKR & Co Inc
KKR
48251W104
3
0.19%
$319.47
Zoom Video Communications Inc
ZM
98980L101
5
0.19%
$319.30
PACCAR Inc
PCAR
693718108
3
0.19%
$316.80
Centene Corp
CNC
15135B101
4
0.18%
$313.60
Target Corp
TGT
87612E106
2
0.18%
$311.56
Sherwin-Williams Co/The
SHW
824348106
1
0.18%
$309.96
Abbott Laboratories
ABT
002824100
3
0.18%
$308.88
Hartford Financial Services Group Inc/The
HIG
416515104
3
0.18%
$306.36
Spotify Technology SA
SPOT
L8681T102
1
0.18%
$304.93
United Parcel Service Inc
UPS
911312106
2
0.17%
$290.84
Public Storage
PSA
74460D109
1
0.17%
$283.03
NIKE Inc
NKE
654106103
3
0.16%
$278.46
GoDaddy Inc
GDDY
380237107
2
0.16%
$277.74
CBRE Group Inc
CBRE
12504L109
3
0.16%
$271.26
McDonald's Corp
MCD
580135101
1
0.16%
$265.87
Ross Stores Inc
ROST
778296103
2
0.16%
$264.60
Workday Inc
WDAY
98138H101
1
0.15%
$258.86
Huntington Ingalls Industries Inc
HII
446413106
1
0.15%
$253.76
American Express Co
AXP
025816109
1
0.14%
$243.08
Biogen Inc
BIIB
09062X103
1
0.13%
$227.69
Veeva Systems Inc
VEEV
922475108
1
0.12%
$209.24
ETF holdings and allocations are subject to change at any time and should not be interpreted as an offer of these securities.

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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