SGI U.S. Large Cap Core ETF

February 20, 2024

CURRENT MATERIALS

CURRENT MATERIALS

Overview

INCEPTION
03/31/2023
OBJECTIVE
Long-term capital appreciation
TICKER
SGLC
PRIMARY EXCHANGE
NYSE
CUSIP
74933W593
NET ASSETS
$103,679,394.81
PREMIUM/DISCOUNT1
-0.11%
30 DAY MEDIAN BID/ASK SPREAD2
0.23%

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 2024-02-20

NAV
PRICE
$ Change
$31.32
$31.29
% Change
-0.63%
-0.60%

QUARTERLY PERFORMANCE%
as of 2023-12-31

Quarter
1 Year
Since Inception*
NAV
11.62
N/A
20.49
Market
11.37
N/A
20.41

MONTHLY PERFORMANCE%
AS OF 2024-01-31

3 Month
1 Year
Since Inception*
NAV
17.27
2.75
23.80
Market
17.02
2.67
23.62
*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

Holdings as of 2024-02-20

Name
Ticker
CUSIP
Shares
Weight
Market Value
ALPHABET INC
GOOGL
02079K305
69
6.22%
$9,737.28
MICROSOFT CORP
MSFT
594918104
17
4.38%
$6,847.43
META PLATFORMS INC
META
30303M102
14
4.22%
$6,597.50
APPLE INC
AAPL
037833100
33
3.83%
$5,991.48
NVIDIA CORPORATION
NVDA
67066G104
8
3.55%
$5,556.16
APPLIED MATLS INC
AMAT
038222105
29
3.50%
$5,475.78
QUALCOMM INC
QCOM
747525103
36
3.50%
$5,470.56
AMERICAN INTL GROUP INC
AIG
026874784
76
3.31%
$5,177.88
D R HORTON INC
DHI
23331A109
35
3.21%
$5,021.45
AMAZON COM INC
AMZN
023135106
29
3.10%
$4,845.32
AUTOMATIC DATA PROCESSING INC COM
ADP
053015103
19
3.07%
$4,805.86
REGENERON PHARMACEUTICALS
REGN
75886F107
5
3.03%
$4,734.35
ELEVANCE HEALTH INC
ELV
036752103
9
2.93%
$4,580.19
FEDEX CORP
FDX
31428X106
18
2.76%
$4,311.72
UNITED THERAPEUTICS CORP DEL COM
UTHR
91307C102
20
2.74%
$4,283.20
LENNAR CORP
LEN
526057104
26
2.51%
$3,925.74
STARBUCKS CORP
SBUX
855244109
39
2.33%
$3,644.94
FOX CORP
FOX
35137L204
128
2.26%
$3,536.64
MERCK & CO INC
MRK
58933Y105
27
2.20%
$3,438.99
VERTEX PHARMACEUTICALS INC
VRTX
92532F100
8
2.15%
$3,365.12
CHEVRON CORP NEW
CVX
166764100
20
1.97%
$3,080.00
BERKSHIRE HATHAWAY INC DEL
BRK/B
084670702
7
1.82%
$2,850.05
PFIZER INC
PFE
717081103
67
1.18%
$1,848.53
OWENS CORNING NEW
OC
690742101
13
1.18%
$1,840.28
HOME DEPOT INC
HD
437076102
5
1.16%
$1,812.85
LAM RESEARCH CORP
LRCX
512807108
2
1.15%
$1,800.88
LOCKHEED MARTIN CORP
LMT
539830109
4
1.08%
$1,697.08
FERGUSON PLC NEW
FERG
G3421J106
8
1.03%
$1,616.56
ELECTRONIC ARTS INC
EA
285512109
11
0.99%
$1,551.44
UNION PAC CORP
UNP
907818108
6
0.95%
$1,482.84
GOLDMAN SACHS GROUP INC
GS
38141G104
3
0.74%
$1,153.56
JPMORGAN CHASE & CO.
JPM
46625H100
5
0.57%
$898.65
VEEVA SYS INC
VEEV
922475108
4
0.56%
$875.04
SERVICENOW INC
NOW
81762P102
1
0.48%
$752.84
HUMANA INC
HUM
444859102
2
0.47%
$734.28
AGCO CORP
AGCO
001084102
6
0.41%
$638.82
KIMBERLY-CLARK CORP
KMB
494368103
5
0.38%
$595.75
HUBSPOT INC
HUBS
443573100
1
0.38%
$595.34
NETFLIX INC
NFLX
64110L106
1
0.37%
$575.13
MSCI INC
MSCI
55354G100
1
0.36%
$556.56
THERMO FISHER SCIENTIFIC INC COM
TMO
883556102
1
0.35%
$548.14
SYNOPSYS INC
SNPS
871607107
1
0.35%
$547.98
CONOCOPHILLIPS
COP
20825C104
5
0.35%
$547.70
COCA COLA CO
KO
191216100
9
0.35%
$546.30
ADOBE INC
ADBE
00724F101
1
0.35%
$541.91
ABBVIE INC
ABBV
00287Y109
3
0.34%
$527.25
UNITEDHEALTH GROUP INC
UNH
91324P102
1
0.33%
$521.06
MCKESSON CORP
MCK
58155Q103
1
0.32%
$506.74
EAGLE MATLS INC
EXP
26969P108
2
0.31%
$484.26
MASTERCARD INCORPORATED
MA
57636Q104
1
0.29%
$451.75
LOWES COS INC
LOW
548661107
2
0.29%
$451.02
MONGODB INC
MDB
60937P106
1
0.28%
$444.81
CINCINNATI FINL CORP
CINF
172062101
4
0.28%
$443.76
TRAVELERS COMPANIES INC
TRV
89417E109
2
0.28%
$440.20
S&P Global Inc
SPGI
78409V104
1
0.27%
$426.01
PULTE GROUP INC
PHM
745867101
4
0.26%
$412.16
INCYTE CORP
INCY
45337C102
7
0.26%
$411.74
ATLASSIAN CORPORATION
TEAM
049468101
2
0.26%
$409.56
MURPHY USA INC
MUSA
626755102
1
0.26%
$402.46
DOCUSIGN INC
DOCU
256163106
8
0.26%
$399.84
NEUROCRINE BIOSCIENCES INC
NBIX
64125C109
3
0.25%
$397.95
AMERIPRISE FINL INC
AMP
03076C106
1
0.25%
$396.78
HERSHEY CO
HSY
427866108
2
0.25%
$387.14
PROGRESSIVE CORP
PGR
743315103
2
0.24%
$378.96
HARTFORD FINL SVCS GROUP INC COM
HIG
416515104
4
0.24%
$373.72
LOEWS CORP
L
540424108
5
0.24%
$369.35
EVEREST GROUP LTD
EG
G3223R108
1
0.24%
$368.11
BUILDERS FIRSTSOURCE INC
BLDR
12008R107
2
0.23%
$365.80
CBRE GROUP INC
CBRE
12504L109
4
0.23%
$363.88
ACCENTURE PLC IRELAND
ACN
G1151C101
1
0.23%
$362.95
EASTGROUP PPTYS INC
EGP
277276101
2
0.23%
$362.96
HF SINCLAIR CORP
DINO
403949100
6
0.23%
$356.16
WALMART INC
WMT
931142103
2
0.22%
$351.72
WEST PHARMACEUTICAL SVSC INC COM
WST
955306105
1
0.22%
$350.18
ABBOTT LABS
ABT
002824100
3
0.22%
$349.92
DOORDASH INC
DASH
25809K105
3
0.22%
$346.44
POPULAR INC
BPOP
733174700
4
0.22%
$339.20
PEPSICO INC
PEP
713448108
2
0.22%
$337.30
COMCAST CORP NEW
CMCSA
20030N101
8
0.21%
$333.28
WEYERHAEUSER CO MTN BE
WY
962166104
10
0.21%
$330.60
EXELIXIS INC
EXEL
30161Q104
16
0.21%
$330.08
MARATHON PETE CORP
MPC
56585A102
2
0.21%
$328.58
DISNEY WALT CO
DIS
254687106
3
0.21%
$328.32
BERKLEY W R CORP
WRB
084423102
4
0.21%
$327.92
DELTA AIR LINES INC DEL
DAL
247361702
8
0.21%
$324.80
FIRST HORIZON CORPORATION
FHN
320517105
23
0.21%
$324.76
CHENIERE ENERGY INC
LNG
16411R208
2
0.21%
$322.20
PRUDENTIAL FINL INC
PRU
744320102
3
0.21%
$321.93
RELIANCE STEEL & ALUMINUM CO COM
RS
759509102
1
0.20%
$317.57
CENTENE CORP DEL
CNC
15135B101
4
0.20%
$317.16
PROCTER AND GAMBLE CO
PG
742718109
2
0.20%
$317.02
CATERPILLAR INC
CAT
149123101
1
0.20%
$313.74
NIKE INC
NKE
654106103
3
0.20%
$309.90
AMERICAN HOMES 4 RENT
AMH
02665T306
9
0.20%
$309.42
EQUITABLE HLDGS INC COM
EQH
29452E101
9
0.20%
$309.06
HCA HEALTHCARE INC
HCA
40412C101
1
0.20%
$308.58
ZOOM VIDEO COMMUNICATIONS INC CL A
ZM
98980L101
5
0.20%
$306.60
BANK AMERICA CORP
BAC
060505104
9
0.20%
$305.64
UNITED AIRLS HLDGS INC
UAL
910047109
7
0.19%
$304.22
EVERGY INC
EVRG
30034W106
6
0.19%
$301.08
EQUITY RESIDENTIAL
EQR
29476L107
5
0.19%
$300.60
TARGET CORP
TGT
87612E106
2
0.19%
$299.78
EPAM SYS INC
EPAM
29414B104
1
0.19%
$297.81
UNITED PARCEL SERVICE INC
UPS
911312106
2
0.19%
$297.28
AIRBNB INC
ABNB
009066101
2
0.19%
$296.30
XCEL ENERGY INC
XEL
98389B100
5
0.19%
$295.95
CISCO SYS INC
CSCO
17275R102
6
0.19%
$289.68
LYONDELLBASELL INDUSTRIES N V SHS - A -
LYB
N53745100
3
0.18%
$288.81
STATE STR CORP
STT
857477103
4
0.18%
$286.20
APA CORPORATION
APA
03743Q108
9
0.18%
$278.82
VALERO ENERGY CORP
VLO
91913Y100
2
0.17%
$270.06
GENERAL DYNAMICS CORP
GD
369550108
1
0.17%
$268.93
DEVON ENERGY CORP NEW
DVN
25179M103
6
0.17%
$260.46
EMCOR GROUP INC
EME
29084Q100
1
0.16%
$251.16
DANAHER CORPORATION
DHR
235851102
1
0.16%
$247.77
AMERICAN FINL GROUP INC OHIO COM
AFG
025932104
2
0.16%
$247.18
AMERICAN WTR WKS CO INC NEW
AWK
030420103
2
0.15%
$242.32
BIOGEN INC
BIIB
09062X103
1
0.14%
$219.21
MARSH & MCLENNAN COS INC
MMC
571748102
1
0.13%
$200.89
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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