SGI U.S. Large Cap Core ETF

March 27, 2024

CURRENT MATERIALS

CURRENT MATERIALS

Overview

INCEPTION
03/31/2023
OBJECTIVE
Long-term capital appreciation
TICKER
SGLC
PRIMARY EXCHANGE
NYSE
CUSIP
74933W593
NET ASSETS
$83,710,292.88
PREMIUM/DISCOUNT1
-0.14%
30 DAY MEDIAN BID/ASK SPREAD2
0.15%

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 2024-03-27

NAV
PRICE
$ Change
$33.42
$33.37
% Change
0.80%
0.82%

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 2024-02-29

3 Month
1 Year
Since Inception*
NAV
13.29
8.27
30.46
Market
13.40
8.41
30.54
*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 2024-03-27

Name
Ticker
CUSIP
Shares
Weight
Market Value
Alphabet Inc
GOOGL
02079K305
64
5.79%
$9,655.68
Meta Platforms Inc
META
30303M102
14
4.15%
$6,914.04
Applied Materials Inc
AMAT
038222105
32
3.99%
$6,656.00
Microsoft Corp
MSFT
594918104
15
3.79%
$6,321.45
NVIDIA Corp
NVDA
67066G104
7
3.79%
$6,317.50
QUALCOMM Inc
QCOM
747525103
36
3.65%
$6,088.68
Union Pacific Corp
UNP
907818108
24
3.52%
$5,871.12
Apple Inc
AAPL
037833100
33
3.43%
$5,719.23
Automatic Data Processing Inc
ADP
053015103
23
3.43%
$5,711.59
United Therapeutics Corp
UTHR
91307C102
23
3.36%
$5,595.21
DR Horton Inc
DHI
23331A109
34
3.31%
$5,509.70
Amazon.com Inc
AMZN
023135106
29
3.13%
$5,215.07
Merck & Co Inc
MRK
58933Y105
39
3.08%
$5,138.25
Regeneron Pharmaceuticals Inc
REGN
75886F107
5
2.90%
$4,831.50
ELEVANCE HEALTH INC
ELV
036752103
9
2.81%
$4,679.64
ServiceNow Inc
NOW
81762P102
6
2.73%
$4,554.00
Lennar Corp
LEN
526057104
25
2.53%
$4,212.50
American International Group Inc
AIG
026874784
50
2.35%
$3,917.00
Fox Corp
FOX
35137L204
132
2.27%
$3,775.20
Vertex Pharmaceuticals Inc
VRTX
92532F100
9
2.25%
$3,755.88
Berkshire Hathaway Inc
BRK/B
084670702
7
1.75%
$2,918.51
Chevron Corp
CVX
166764100
18
1.69%
$2,814.30
First Horizon Corp
FHN
320517105
166
1.53%
$2,543.12
Owens Corning
OC
690742101
14
1.40%
$2,340.94
FedEx Corp
FDX
31428X106
8
1.38%
$2,303.04
Home Depot Inc/The
HD
437076102
5
1.16%
$1,929.45
Pfizer Inc
PFE
717081103
67
1.12%
$1,861.26
Lockheed Martin Corp
LMT
539830109
4
1.10%
$1,827.12
Cheniere Energy Inc
LNG
16411R208
8
0.77%
$1,289.12
Coca-Cola Co/The
KO
191216100
21
0.77%
$1,281.63
Goldman Sachs Group Inc/The
GS
38141G104
3
0.75%
$1,245.75
JPMORGAN CHASE & CO.
JPM
46625H100
5
0.60%
$997.60
Lam Research Corp
LRCX
512807108
1
0.58%
$965.67
Mastercard Inc
MA
57636Q104
2
0.57%
$955.90
AbbVie Inc
ABBV
00287Y109
4
0.43%
$721.40
Humana Inc
HUM
444859102
2
0.42%
$699.00
KLA CORP
KLAC
482480100
1
0.42%
$696.87
Starbucks Corp
SBUX
855244109
7
0.38%
$640.50
AGCO Corp
AGCO
001084102
5
0.37%
$608.60
Thermo Fisher Scientific Inc
TMO
883556102
1
0.35%
$579.37
Synopsys Inc
SNPS
871607107
1
0.34%
$573.35
MSCI Inc
MSCI
55354G100
1
0.33%
$557.00
McKesson Corp
MCK
58155Q103
1
0.32%
$539.26
Adobe Inc
ADBE
00724F101
1
0.30%
$504.40
Cincinnati Financial Corp
CINF
172062101
4
0.30%
$493.16
UnitedHealth Group Inc
UNH
91324P102
1
0.30%
$493.10
PulteGroup Inc
PHM
745867101
4
0.28%
$472.04
Travelers Cos Inc/The
TRV
89417E109
2
0.27%
$457.66
Incyte Corp
INCY
45337C102
8
0.27%
$456.96
Ferguson PLC
FERG
G3421J106
2
0.26%
$437.90
Ameriprise Financial Inc
AMP
03076C106
1
0.26%
$435.98
Builders FirstSource Inc
BLDR
12008R107
2
0.25%
$419.36
DoorDash Inc
DASH
25809K105
3
0.25%
$416.64
DocuSign Inc
DOCU
256163106
7
0.25%
$414.89
Neurocrine Biosciences Inc
NBIX
64125C109
3
0.25%
$413.49
Progressive Corp/The
PGR
743315103
2
0.25%
$412.30
American Financial Group Inc/OH
AFG
025932104
3
0.25%
$410.40
Hartford Financial Services Group Inc/The
HIG
416515104
4
0.25%
$409.20
Deere & Co
DE
244199105
1
0.25%
$409.14
Everest Group Ltd
EG
G3223R108
1
0.24%
$395.79
Electronic Arts Inc
EA
285512109
3
0.24%
$395.61
Loews Corp
L
540424108
5
0.23%
$390.50
Lululemon Athletica Inc
LULU
550021109
1
0.23%
$389.46
Hershey Co/The
HSY
427866108
2
0.23%
$387.42
Atlassian Corp
TEAM
049468101
2
0.23%
$386.28
Kimberly-Clark Corp
KMB
494368103
3
0.23%
$381.81
MetLife Inc
MET
59156R108
5
0.22%
$369.60
GoDaddy Inc
GDDY
380237107
3
0.22%
$366.24
Arch Capital Group Ltd
ACGL
G0450A105
4
0.22%
$365.92
Caterpillar Inc
CAT
149123101
1
0.22%
$364.65
Walmart Inc
WMT
931142103
6
0.22%
$364.32
MongoDB Inc
MDB
60937P106
1
0.22%
$358.80
Exelixis Inc
EXEL
30161Q104
15
0.21%
$357.90
HF Sinclair Corp
DINO
403949100
6
0.21%
$357.54
Motorola Solutions Inc
MSI
620076307
1
0.21%
$353.41
W R Berkley Corp
WRB
084423102
4
0.21%
$352.68
EMCOR Group Inc
EME
29084Q100
1
0.21%
$351.59
Prudential Financial Inc
PRU
744320102
3
0.21%
$351.06
Target Corp
TGT
87612E106
2
0.21%
$349.34
Popular Inc
BPOP
733174700
4
0.21%
$348.76
PepsiCo Inc
PEP
713448108
2
0.21%
$347.14
Comcast Corp
CMCSA
20030N101
8
0.21%
$344.56
EQUITABLE HLDGS INC COM
EQH
29452E101
9
0.21%
$341.73
Bank of New York Mellon Corp/The
BK
064058100
6
0.21%
$341.58
Accenture PLC
ACN
G1151C101
1
0.20%
$340.94
Bank of America Corp
BAC
060505104
9
0.20%
$340.29
Reliance Inc
RS
759509102
1
0.20%
$336.90
Valero Energy Corp
VLO
91913Y100
2
0.20%
$335.62
Zoom Video Communications Inc
ZM
98980L101
5
0.20%
$333.10
HCA Healthcare Inc
HCA
40412C101
1
0.20%
$331.69
Delta Air Lines Inc
DAL
247361702
7
0.20%
$331.17
Sysco Corp
SYY
871829107
4
0.20%
$327.76
Procter & Gamble Co/The
PG
742718109
2
0.20%
$325.22
Match Group Inc
MTCH
57667L107
9
0.19%
$322.92
NextEra Energy Inc
NEE
65339F101
5
0.19%
$318.95
Evergy Inc
EVRG
30034W106
6
0.19%
$318.30
Phillips 66
PSX
718546104
2
0.19%
$317.92
Citigroup Inc
C
172967424
5
0.19%
$313.75
Centene Corp
CNC
15135B101
4
0.19%
$313.40
LyondellBasell Industries NV
LYB
N53745100
3
0.19%
$308.85
State Street Corp
STT
857477103
4
0.18%
$304.76
Cisco Systems Inc
CSCO
17275R102
6
0.18%
$298.62
Devon Energy Corp
DVN
25179M103
6
0.18%
$296.76
United Parcel Service Inc
UPS
911312106
2
0.18%
$294.66
Capital One Financial Corp
COF
14040H105
2
0.17%
$289.02
Arista Networks Inc
ANET
040413106
1
0.17%
$288.41
Public Storage
PSA
74460D109
1
0.17%
$288.10
NIKE Inc
NKE
654106103
3
0.17%
$282.39
General Dynamics Corp
GD
369550108
1
0.17%
$281.90
EPAM Systems Inc
EPAM
29414B104
1
0.17%
$276.37
Workday Inc
WDAY
98138H101
1
0.16%
$273.62
APA Corp
APA
03743Q108
8
0.16%
$269.68
Veeva Systems Inc
VEEV
922475108
1
0.14%
$233.39
Biogen Inc
BIIB
09062X103
1
0.13%
$216.34
Fox Corp
FOXA
35137L105
1
0.02%
$31.17
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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