The NAACP Minority Empowerment ETF

NACP

The Overall Morningstar rating for the period ending 6/30/25 is against 1,161 funds in the US Fund Large Blend Funds category and is based on risk-adjusted returns.

Fund Description and Objective

NACP tracks the Morningstar Minority Empowerment Index, which is designed to provide exposure to US companies with strong racial and ethnic diversity policies in place, empowering employees irrespective of theirrace or nationality.

Broad equity market exposure; racial justice and equality.

NACP is designed to provide broad equity market exposure to U.S. large- and mid-cap companies that fit the NAACP’s vision of good corporate citizens. With NACP, investors may achieve market returns while investing in a way that is consistent with their values.

Support the NAACP.

Founded in 1909, the historic power of the NAACP in advancing human rights has been transformative, impacting an expansive range of issues within American society from the eradication of lynch mobs, to ensuring equal education (Brown v. Board of Education), and ushering in the Civil Rights movement. In the 21st century, the NAACP sees corporate American as the “third act” for the equity movement, with racial and ethnic equity, empowerment, and inclusion the next frontier for the private sector.

Disclaimer: Net Profits is the excess, if any, of Impact Shares’ fund fees after the deduction of operating expense and a reserve for working capital. Due to the relatively small size of the Fund, Impact Shares’ Fund fees have not yet exceeded its related operating expenses. Accordingly, Impact Shares has not yet made any charitable contributions from such fees. There can be no assurance that Impact Shares’ Fund fees will exceed operating expenses in the future. The fund is not sponsored, endorsed, or promoted by NAACP.

Fund Information

Fund Name	Impact Shares NAACP Minority Empowerment ETF
Fund Inception	7/18/2018
Ticker	NACP
Primary Exchange	NYSE Arca
CUSIP	45259A209
Expense Ratio*	0.49%
30 Day SEC Yield* As of 11/30/2025	0.88%

Fund Data & Pricing

Name
12/18/2025

Name	Value
Net Assets	$57.84m
NAV	$49.23
Shares Outstanding	1,175,000
Premium/Discount Percentage	0.05%
Closing Price	$49.25
Median 30 Day Spread*	0.13%

Performance

RETURNS

Inception Date: 07/18/2018

Name
11/30/2025

Fund Name		1MO	3MO	6MO	YTD	1YR	3YR	5YR	10YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Impact Shares NAACP Minority Empowerment ETF	NACP MKT	-0.05	9.48	19.13	21.82	17.85	22.38	14.96	-	188.88	15.48	11/30/2025
Impact Shares NAACP Minority Empowerment ETF	NACP NAV	0.09	9.52	19.34	21.92	18.05	22.21	15.03	-	189.20	15.50	11/30/2025
Morningstar Minority Empowerment Index	MSEGMEPU	-0.01	9.30	18.83	20.88	17.00	20.72	13.99	-	143.54	12.84	11/30/2025
Russell 1000 Index TR (USD)	RU1000TR	0.24	5.96	16.19	17.36	14.09	20.31	14.53	-	168.58	14.35	11/30/2025
Morningstar US Large-Mid Cap Index	MSEGLMCA	0.09	6.16	16.42	17.77	14.74	20.73	14.63	-	171.28	14.50	11/30/2025

Name
09/30/2025

Fund Name		1MO	3MO	6MO	YTD	1YR	3YR	5YR	10YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Impact Shares NAACP Minority Empowerment ETF	NACP MKT	5.57	9.29	20.23	17.48	18.58	25.74	16.01	-	178.58	15.29	09/30/2025
Impact Shares NAACP Minority Empowerment ETF	NACP NAV	5.50	9.32	20.26	17.45	18.56	25.80	16.09	-	178.59	15.29	09/30/2025
Morningstar Minority Empowerment Index	MSEGMEPU	5.45	9.10	19.73	16.62	17.44	24.15	14.70	-	134.97	12.58	09/30/2025
Morningstar US Large-Mid Cap Index	MSEGLMCA	3.64	8.10	20.43	14.97	18.10	25.02	15.99	-	164.84	14.47	09/30/2025
Russell 1000 Index TR (USD)	RU1000TR	3.47	7.99	19.99	14.60	17.75	24.64	15.99	-	162.27	14.32	09/30/2025

Data as of 06/30/2024

	1MO	3MO	YTD	1YR	3YR	5YR	10YR	Since Inception (Annualized)	Since Inception (Cumulative)
Fund NAV	3.16%	3.26%	16.70%	26.38%	9.47%	15.80	-%	14.46%	123.55%
Market Price	3.29%	3.23%	16.92%	26.34%	9.42%	15.87%	-%	14.48%	123.72%

DAILY CHANGE

Net Asset Value (NAV)

Name
12/18/2025

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Market Price

Name
12/18/2025

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PREMIUM/DISCOUNT

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Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor`s shares, when redeemed or sold, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of less than one year are not annualized. Market returns does not represent the returns you would receive if you traded shares at other times. For performance data current to the most recent month end, please call (844) 954-7733.

MARKET PRICE Beginning 12/17/2020, the market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. Prior to 12/17/2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of (4:00 PM Eastern Time).

NAV The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

30-Day Median Bid Ask Spread is a calculation of 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.

Holdings

TOP 10 HOLDINGS

Holdings are subject to change.

Name
12/19/2025

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	% Net of Assets	NetAssets	SharesOutstanding	CreationUnits
12/19/2025	NACP	AAPL	037833100	Apple Inc	13,237	272.19	3,602,979.03	5.14%	70,147,905	1,425,000	57
12/19/2025	NACP	NVDA	67066G104	NVIDIA Corp	19,240	174.14	3,350,453.60	4.78%	70,147,905	1,425,000	57
12/19/2025	NACP	IBM	459200101	International Business Machines Corp	10,779	300.45	3,238,550.55	4.62%	70,147,905	1,425,000	57
12/19/2025	NACP	AMZN	023135106	Amazon.com Inc	13,723	226.76	3,111,827.48	4.44%	70,147,905	1,425,000	57
12/19/2025	NACP	MSFT	594918104	Microsoft Corp	6,410	483.98	3,102,311.80	4.42%	70,147,905	1,425,000	57
12/19/2025	NACP	TSLA	88160R101	Tesla Inc	6,356	483.37	3,072,299.72	4.38%	70,147,905	1,425,000	57
12/19/2025	NACP	MU	595112103	Micron Technology Inc	12,319	248.55	3,061,887.45	4.36%	70,147,905	1,425,000	57
12/19/2025	NACP	QCOM	747525103	QUALCOMM Inc	13,167	174.19	2,293,559.73	3.27%	70,147,905	1,425,000	57
12/19/2025	NACP	META	30303M102	Meta Platforms Inc	3,385	664.45	2,249,163.25	3.21%	70,147,905	1,425,000	57
12/19/2025	NACP	GOOGL	02079K305	Alphabet Inc	7,396	302.46	2,236,994.16	3.19%	70,147,905	1,425,000	57
12/19/2025	NACP	ACN	G1151C101	Accenture PLC	7,715	269.96	2,082,741.40	2.97%	70,147,905	1,425,000	57
12/19/2025	NACP	GOOG	02079K107	Alphabet Inc	6,454	303.75	1,960,402.50	2.79%	70,147,905	1,425,000	57
12/19/2025	NACP	UBER	90353T100	Uber Technologies Inc	24,343	79.69	1,939,893.67	2.77%	70,147,905	1,425,000	57
12/19/2025	NACP	INTC	458140100	Intel Corp	52,906	36.28	1,919,429.68	2.74%	70,147,905	1,425,000	57
12/19/2025	NACP	JPM	46625H100	JPMORGAN CHASE & CO.	5,289	313.00	1,655,457.00	2.36%	70,147,905	1,425,000	57
12/19/2025	NACP	PANW	697435105	Palo Alto Networks Inc	7,798	185.88	1,449,492.24	2.07%	70,147,905	1,425,000	57
12/19/2025	NACP	V	92826C839	Visa Inc	3,260	346.01	1,127,992.60	1.61%	70,147,905	1,425,000	57
12/19/2025	NACP	T	00206R102	AT&T Inc	41,337	24.26	1,002,835.62	1.43%	70,147,905	1,425,000	57
12/19/2025	NACP	VZ	92343V104	Verizon Communications Inc	24,458	40.41	988,347.78	1.41%	70,147,905	1,425,000	57
12/19/2025	NACP	XOM	30231G102	Exxon Mobil Corp	8,322	116.54	969,845.88	1.38%	70,147,905	1,425,000	57
12/19/2025	NACP	JNJ	478160104	Johnson & Johnson	4,467	208.31	930,520.77	1.33%	70,147,905	1,425,000	57
12/19/2025	NACP	MA	57636Q104	Mastercard Inc	1,564	566.21	885,552.44	1.26%	70,147,905	1,425,000	57
12/19/2025	NACP	WMT	931142103	Walmart Inc	7,655	114.83	879,023.65	1.25%	70,147,905	1,425,000	57
12/19/2025	NACP	ABBV	00287Y109	AbbVie Inc	3,306	222.82	736,642.92	1.05%	70,147,905	1,425,000	57
12/19/2025	NACP	BAC	060505104	Bank of America Corp	13,099	54.26	710,751.74	1.01%	70,147,905	1,425,000	57
12/19/2025	NACP	GE	369604301	GE AEROSPACE	1,974	301.69	595,536.06	0.85%	70,147,905	1,425,000	57
12/19/2025	NACP	CVX	166764100	Chevron Corp	3,722	147.69	549,702.18	0.78%	70,147,905	1,425,000	57
12/19/2025	NACP	UNH	91324P102	UnitedHealth Group Inc	1,639	328.14	537,821.46	0.77%	70,147,905	1,425,000	57
12/19/2025	NACP	KO	191216100	Coca-Cola Co/The	7,500	70.36	527,700.00	0.75%	70,147,905	1,425,000	57
12/19/2025	NACP	MRK	58933Y105	Merck & Co Inc	4,569	100.69	460,052.61	0.66%	70,147,905	1,425,000	57
12/19/2025	NACP	ABT	002824100	Abbott Laboratories	3,272	125.12	409,392.64	0.58%	70,147,905	1,425,000	57
12/19/2025	NACP	MS	617446448	Morgan Stanley	2,313	172.96	400,056.48	0.57%	70,147,905	1,425,000	57
12/19/2025	NACP	PEP	713448108	PepsiCo Inc	2,694	149.37	402,402.78	0.57%	70,147,905	1,425,000	57
12/19/2025	NACP	TMO	883556102	Thermo Fisher Scientific Inc	711	562.39	399,859.29	0.57%	70,147,905	1,425,000	57
12/19/2025	NACP	AXP	025816109	American Express Co	1,040	375.52	390,540.80	0.56%	70,147,905	1,425,000	57
12/19/2025	NACP	C	172967424	Citigroup Inc	3,478	112.83	392,422.74	0.56%	70,147,905	1,425,000	57
12/19/2025	NACP	NEE	65339F101	NextEra Energy Inc	3,990	80.85	322,591.50	0.46%	70,147,905	1,425,000	57
12/19/2025	NACP	SCHW	808513105	Charles Schwab Corp/The	3,274	97.23	318,331.02	0.45%	70,147,905	1,425,000	57
12/19/2025	NACP	LOW	548661107	Lowe's Cos Inc	1,239	247.71	306,912.69	0.44%	70,147,905	1,425,000	57
12/19/2025	NACP	BA	097023105	Boeing Co/The	1,438	208.27	299,492.26	0.43%	70,147,905	1,425,000	57
12/19/2025	NACP	SPGI	78409V104	S&P Global Inc	577	506.71	292,371.67	0.42%	70,147,905	1,425,000	57
12/19/2025	NACP	DHR	235851102	Danaher Corp	1,239	224.35	277,969.65	0.40%	70,147,905	1,425,000	57
12/19/2025	NACP	GILD	375558103	Gilead Sciences Inc	2,281	121.47	277,073.07	0.39%	70,147,905	1,425,000	57
12/19/2025	NACP	UNP	907818108	Union Pacific Corp	1,144	234.42	268,176.48	0.38%	70,147,905	1,425,000	57
12/19/2025	NACP	PFE	717081103	Pfizer Inc	10,730	25.04	268,679.20	0.38%	70,147,905	1,425,000	57
12/19/2025	NACP	BSX	101137107	Boston Scientific Corp	2,703	96.11	259,785.33	0.37%	70,147,905	1,425,000	57
12/19/2025	NACP	FGXXX	31846V336	First American Government Obligations Fund 12/01/2031	256,849	100.00	256,848.71	0.37%	70,147,905	1,425,000	57
12/19/2025	NACP	SYK	863667101	Stryker Corp	668	353.11	235,877.48	0.34%	70,147,905	1,425,000	57
12/19/2025	NACP	HON	438516106	Honeywell International Inc	1,215	198.08	240,667.20	0.34%	70,147,905	1,425,000	57
12/19/2025	NACP	MDT	G5960L103	Medtronic PLC	2,360	98.48	232,412.80	0.33%	70,147,905	1,425,000	57
12/19/2025	NACP	ETN	G29183103	Eaton Corp PLC	726	315.95	229,379.70	0.33%	70,147,905	1,425,000	57
12/19/2025	NACP	Cash&Other	Cash&Other	Cash & Other	233,137	1.00	233,136.63	0.33%	70,147,905	1,425,000	57
12/19/2025	NACP	PLD	74340W103	Prologis Inc	1,734	127.66	221,362.44	0.32%	70,147,905	1,425,000	57
12/19/2025	NACP	COP	20825C104	ConocoPhillips	2,410	92.23	222,274.30	0.32%	70,147,905	1,425,000	57
12/19/2025	NACP	DE	244199105	Deere & Co	464	475.05	220,423.20	0.31%	70,147,905	1,425,000	57
12/19/2025	NACP	NEM	651639106	Newmont Corp	2,019	99.34	200,567.46	0.29%	70,147,905	1,425,000	57
12/19/2025	NACP	BMY	110122108	Bristol-Myers Squibb Co	3,852	53.33	205,427.16	0.29%	70,147,905	1,425,000	57
12/19/2025	NACP	CVS	126650100	CVS Health Corp	2,468	77.79	191,985.72	0.27%	70,147,905	1,425,000	57
12/19/2025	NACP	GM	37045V100	General Motors Co	2,250	81.17	182,632.50	0.26%	70,147,905	1,425,000	57
12/19/2025	NACP	NKE	654106103	NIKE Inc	2,810	65.63	184,420.30	0.26%	70,147,905	1,425,000	57
12/19/2025	NACP	SO	842587107	Southern Co/The	2,092	87.22	182,464.24	0.26%	70,147,905	1,425,000	57
12/19/2025	NACP	DUK	26441C204	Duke Energy Corp	1,487	117.55	174,796.85	0.25%	70,147,905	1,425,000	57
12/19/2025	NACP	RCL	V7780T103	Royal Caribbean Cruises Ltd	579	286.73	166,016.67	0.24%	70,147,905	1,425,000	57
12/19/2025	NACP	WELL	95040Q104	Welltower Inc	898	187.49	168,366.02	0.24%	70,147,905	1,425,000	57
12/19/2025	NACP	TT	G8994E103	Trane Technologies PLC	416	385.22	160,251.52	0.23%	70,147,905	1,425,000	57
12/19/2025	NACP	MAR	571903202	Marriott International Inc/MD	531	306.82	162,921.42	0.23%	70,147,905	1,425,000	57
12/19/2025	NACP	MMM	88579Y101	3M Co	1,004	161.76	162,407.04	0.23%	70,147,905	1,425,000	57
12/19/2025	NACP	CRH	G25508105	CRH PLC	1,270	127.17	161,505.90	0.23%	70,147,905	1,425,000	57
12/19/2025	NACP	PNC	693475105	PNC Financial Services Group Inc/The	750	209.50	157,125.00	0.22%	70,147,905	1,425,000	57
12/19/2025	NACP	BK	064058100	Bank of New York Mellon Corp/The	1,287	114.45	147,297.15	0.21%	70,147,905	1,425,000	57
12/19/2025	NACP	MCO	615369105	Moody's Corp	291	497.69	144,827.79	0.21%	70,147,905	1,425,000	57
12/19/2025	NACP	HLT	43300A203	Hilton Worldwide Holdings Inc	516	287.67	148,437.72	0.21%	70,147,905	1,425,000	57
12/19/2025	NACP	JCI	G51502105	Johnson Controls International plc	1,230	117.74	144,820.20	0.21%	70,147,905	1,425,000	57
12/19/2025	NACP	ELV	036752103	ELEVANCE HEALTH INC	432	344.60	148,867.20	0.21%	70,147,905	1,425,000	57
12/19/2025	NACP	UPS	911312106	United Parcel Service Inc	1,370	102.08	139,849.60	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	EMR	291011104	Emerson Electric Co	1,048	131.60	137,916.80	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	EQIX	29444U700	Equinix Inc	188	744.08	139,887.04	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	AON	G0403H108	Aon PLC	400	353.02	141,208.00	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	HWM	443201108	Howmet Aerospace Inc	703	198.00	139,194.00	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	NOC	666807102	Northrop Grumman Corp	257	559.52	143,796.64	0.20%	70,147,905	1,425,000	57
12/19/2025	NACP	MDLZ	609207105	Mondelez International Inc	2,410	54.78	132,019.80	0.19%	70,147,905	1,425,000	57
12/19/2025	NACP	ITW	452308109	Illinois Tool Works Inc	543	251.18	136,390.74	0.19%	70,147,905	1,425,000	57
12/19/2025	NACP	WMB	969457100	Williams Cos Inc/The	2,315	58.66	135,797.90	0.19%	70,147,905	1,425,000	57
12/19/2025	NACP	PGR	743315103	Progressive Corp/The	603	224.86	135,590.58	0.19%	70,147,905	1,425,000	57
12/19/2025	NACP	FCX	35671D857	Freeport-McMoRan Inc	2,568	47.92	123,058.56	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	CI	125523100	Cigna Group/The	469	274.00	128,506.00	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	CMI	231021106	Cummins Inc	254	500.61	127,154.94	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	NSC	655844108	Norfolk Southern Corp	426	291.83	124,319.58	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	ECL	278865100	Ecolab Inc	476	262.92	125,149.92	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	CSX	126408103	CSX Corp	3,504	36.61	128,281.44	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	TFC	89832Q109	TRUIST FINANCIAL CORP	2,460	49.94	122,852.40	0.18%	70,147,905	1,425,000	57
12/19/2025	NACP	FDX	31428X106	FedEx Corp	421	287.12	120,877.52	0.17%	70,147,905	1,425,000	57
12/19/2025	NACP	TRV	89417E109	Travelers Cos Inc/The	414	293.65	121,571.10	0.17%	70,147,905	1,425,000	57
12/19/2025	NACP	F	345370860	Ford Motor Co	9,188	13.32	122,384.16	0.17%	70,147,905	1,425,000	57
12/19/2025	NACP	SRE	816851109	Sempra	1,270	87.25	110,807.50	0.16%	70,147,905	1,425,000	57
12/19/2025	NACP	PYPL	70450Y103	PayPal Holdings Inc	1,884	59.44	111,984.96	0.16%	70,147,905	1,425,000	57
12/19/2025	NACP	AEP	025537101	American Electric Power Co Inc	994	115.58	114,886.52	0.16%	70,147,905	1,425,000	57
12/19/2025	NACP	PSX	718546104	Phillips 66	807	129.13	104,207.91	0.15%	70,147,905	1,425,000	57
12/19/2025	NACP	ZTS	98978V103	Zoetis Inc	872	122.76	107,046.72	0.15%	70,147,905	1,425,000	57
12/19/2025	NACP	VST	92840M102	Vistra Corp	644	166.17	107,013.48	0.15%	70,147,905	1,425,000	57
12/19/2025	NACP	BDX	075887109	Becton Dickinson & Co	541	194.70	105,332.70	0.15%	70,147,905	1,425,000	57
12/19/2025	NACP	KMI	49456B101	Kinder Morgan Inc	3,747	26.34	98,695.98	0.14%	70,147,905	1,425,000	57
12/19/2025	NACP	LHX	502431109	L3Harris Technologies Inc	353	282.72	99,800.16	0.14%	70,147,905	1,425,000	57
12/19/2025	NACP	EA	285512109	Electronic Arts Inc	495	203.90	100,930.50	0.14%	70,147,905	1,425,000	57
12/19/2025	NACP	EW	28176E108	Edwards Lifesciences Corp	1,144	84.80	97,011.20	0.14%	70,147,905	1,425,000	57
12/19/2025	NACP	D	25746U109	Dominion Energy Inc	1,654	60.10	99,405.40	0.14%	70,147,905	1,425,000	57
12/19/2025	NACP	VLO	91913Y100	Valero Energy Corp	554	161.94	89,714.76	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	URI	911363109	United Rentals Inc	118	800.53	94,462.54	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	MET	59156R108	MetLife Inc	1,140	81.71	93,149.40	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	OKE	682680103	ONEOK Inc	1,239	71.69	88,823.91	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	EBAY	278642103	eBay Inc	1,055	83.66	88,261.30	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	MPC	56585A102	Marathon Petroleum Corp	544	168.11	91,451.84	0.13%	70,147,905	1,425,000	57
12/19/2025	NACP	BKR	05722G100	Baker Hughes Co	1,844	44.47	82,002.68	0.12%	70,147,905	1,425,000	57
12/19/2025	NACP	EXC	30161N101	Exelon Corp	1,925	44.28	85,239.00	0.12%	70,147,905	1,425,000	57
12/19/2025	NACP	LNG	16411R208	Cheniere Energy Inc	426	189.85	80,876.10	0.12%	70,147,905	1,425,000	57
12/19/2025	NACP	DAL	247361702	Delta Air Lines Inc	1,239	70.15	86,915.85	0.12%	70,147,905	1,425,000	57
12/19/2025	NACP	AME	031100100	AMETEK Inc	420	201.96	84,823.20	0.12%	70,147,905	1,425,000	57
12/19/2025	NACP	ETR	29364G103	Entergy Corp	840	92.21	77,456.40	0.11%	70,147,905	1,425,000	57
12/19/2025	NACP	CARR	14448C104	Carrier Global Corp	1,483	53.20	78,895.60	0.11%	70,147,905	1,425,000	57
12/19/2025	NACP	ROK	773903109	Rockwell Automation Inc	205	391.62	80,282.10	0.11%	70,147,905	1,425,000	57
12/19/2025	NACP	XEL	98389B100	Xcel Energy Inc	1,087	73.61	80,014.07	0.11%	70,147,905	1,425,000	57
12/19/2025	NACP	PEG	744573106	Public Service Enterprise Group Inc	952	80.66	76,788.32	0.11%	70,147,905	1,425,000	57
12/19/2025	NACP	NDAQ	631103108	Nasdaq Inc	719	94.71	68,096.49	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	A	00846U101	Agilent Technologies Inc	523	136.90	71,598.70	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	PCG	69331C108	PG&E Corp	4,308	15.82	68,152.56	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	UAL	910047109	United Airlines Holdings Inc	629	112.85	70,982.65	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	ED	209115104	Consolidated Edison Inc	687	99.99	68,693.13	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	KR	501044101	Kroger Co/The	1,149	62.79	72,145.71	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	VMC	929160109	Vulcan Materials Co	240	288.34	69,201.60	0.10%	70,147,905	1,425,000	57
12/19/2025	NACP	FITB	316773100	Fifth Third Bancorp	1,290	47.66	61,481.40	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	OTIS	68902V107	Otis Worldwide Corp	725	87.35	63,328.75	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	MLM	573284106	Martin Marietta Materials Inc	103	627.38	64,620.14	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	MTB	55261F104	M&T Bank Corp	295	203.66	60,079.70	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	IR	45687V106	Ingersoll Rand Inc	778	78.85	61,345.30	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	XYL	98419M100	Xylem Inc/NY	476	136.69	65,064.44	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	SYF	87165B103	Synchrony Financial	721	83.68	60,333.28	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	WEC	92939U106	WEC Energy Group Inc	573	105.25	60,308.25	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	RMD	761152107	ResMed Inc	264	242.55	64,033.20	0.09%	70,147,905	1,425,000	57
12/19/2025	NACP	VRSK	92345Y106	Verisk Analytics Inc	254	218.57	55,516.78	0.08%	70,147,905	1,425,000	57
12/19/2025	NACP	LPLA	50212V100	LPL Financial Holdings Inc	157	352.74	55,380.18	0.08%	70,147,905	1,425,000	57
12/19/2025	NACP	NRG	629377508	NRG Energy Inc	354	154.64	54,742.56	0.08%	70,147,905	1,425,000	57
12/19/2025	NACP	HBAN	446150104	Huntington Bancshares Inc/OH	2,802	17.59	49,287.18	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	HAL	406216101	Halliburton Co	1,768	27.46	48,549.28	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	ADM	039483102	Archer-Daniels-Midland Co	887	58.30	51,712.10	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	RF	7591EP100	Regions Financial Corp	1,676	27.49	46,073.24	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	DTE	233331107	DTE Energy Co	387	129.90	50,271.30	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	HSY	427866108	Hershey Co/The	273	188.16	51,367.68	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	AVB	053484101	AvalonBay Communities Inc	254	181.23	46,032.42	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	PPL	69351T106	PPL Corp	1,382	34.75	48,024.50	0.07%	70,147,905	1,425,000	57
12/19/2025	NACP	EIX	281020107	Edison International	756	60.17	45,488.52	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	PPG	693506107	PPG Industries Inc	424	102.91	43,633.84	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	EXPD	302130109	Expeditors International of Washington Inc	258	150.72	38,885.76	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	ILMN	452327109	Illumina Inc	307	130.51	40,066.57	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	SBAC	78410G104	SBA Communications Corp	217	190.36	41,308.12	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	CMS	125896100	CMS Energy Corp	574	70.61	40,530.14	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	ES	30040W108	Eversource Energy	665	67.98	45,206.70	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	HUBB	443510607	Hubbell Inc	92	434.85	40,006.20	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	DVN	25179M103	Devon Energy Corp	1,144	35.72	40,863.68	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	FE	337932107	FirstEnergy Corp	975	44.62	43,504.50	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	BIIB	09062X103	Biogen Inc	245	169.91	41,627.95	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	TROW	74144T108	T Rowe Price Group Inc	412	103.32	42,567.84	0.06%	70,147,905	1,425,000	57
12/19/2025	NACP	ALB	012653101	Albemarle Corp	236	140.48	33,153.28	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	J	46982L108	Jacobs Solutions Inc	245	132.69	32,509.05	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	DGX	74834L100	Quest Diagnostics Inc	210	176.15	36,991.50	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	PFG	74251V102	Principal Financial Group Inc	421	89.34	37,612.14	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	TXT	883203101	Textron Inc	362	87.96	31,841.52	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	APTV	G3265R107	Aptiv PLC	471	77.59	36,544.89	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	NI	65473P105	NiSource Inc	912	41.51	37,857.12	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	USFD	912008109	US Foods Holding Corp	460	76.72	35,291.20	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	WY	962166104	Weyerhaeuser Co	1,395	23.60	32,922.00	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	LNT	018802108	Alliant Energy Corp	489	65.69	32,122.41	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	LH	504922105	Labcorp Holdings Inc	151	252.03	38,056.53	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	LUV	844741108	Southwest Airlines Co	887	40.73	36,127.51	0.05%	70,147,905	1,425,000	57
12/19/2025	NACP	CF	125269100	CF Industries Holdings Inc	347	78.29	27,166.63	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	SCCO	84265V105	Southern Copper Corp	175	142.28	24,930.87	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	LII	526107107	Lennox International Inc	62	494.01	30,628.62	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	TSN	902494103	Tyson Foods Inc	531	58.25	30,930.75	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	JBHT	445658107	JB Hunt Transport Services Inc	158	196.42	31,034.36	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	NVT	G6700G107	nVent Electric PLC	300	98.28	29,484.00	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	IFF	459506101	International Flavors & Fragrances Inc	485	65.01	31,529.85	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	DD	26614N102	DuPont de Nemours Inc	771	40.51	31,233.21	0.04%	70,147,905	1,425,000	57
12/19/2025	NACP	BAX	071813109	Baxter International Inc	944	19.07	18,002.08	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	SWK	854502101	Stanley Black & Decker Inc	265	72.94	19,329.10	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	FDS	303075105	FactSet Research Systems Inc	74	273.39	20,230.86	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	TW	892672106	Tradeweb Markets Inc	215	103.46	22,243.90	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	CLX	189054109	Clorox Co/The	211	99.39	20,971.29	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	SJM	832696405	J M Smucker Co/The	194	100.37	19,471.78	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	AMH	02665T306	American Homes 4 Rent	634	31.68	20,085.12	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	REG	758849103	Regency Centers Corp	343	67.71	23,224.53	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	ACM	00766T100	AECOM	235	97.31	22,867.85	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	NDSN	655663102	Nordson Corp	94	238.34	22,403.96	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	AES	00130H105	AES Corp/The	1,357	13.68	18,563.76	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	BAH	099502106	Booz Allen Hamilton Holding Corp	231	86.01	19,868.31	0.03%	70,147,905	1,425,000	57
12/19/2025	NACP	CNH	N20944109	CNH Industrial NV	1,713	9.65	16,530.45	0.02%	70,147,905	1,425,000	57
12/19/2025	NACP	HRL	440452100	Hormel Foods Corp	531	24.00	12,744.00	0.02%	70,147,905	1,425,000	57
12/19/2025	NACP	CPB	134429109	Campbell's Company/The	381	28.69	10,930.89	0.02%	70,147,905	1,425,000	57
12/19/2025	NACP	OC	690742101	Owens Corning	149	116.58	17,370.42	0.02%	70,147,905	1,425,000	57
12/19/2025	NACP	EMN	277432100	Eastman Chemical Co	236	64.15	15,139.40	0.02%	70,147,905	1,425,000	57
12/19/2025	NACP	DVA	23918K108	DAVITA INC	83	116.15	9,640.45	0.01%	70,147,905	1,425,000	57
12/19/2025	NACP	DKS	253393102	Dick's Sporting Goods Inc	12	210.07	2,520.84	0.00%	70,147,905	1,425,000	57
Date	Account					Price			NetAssets	SharesOutstanding	CreationUnits

Sector Allocation

As of 06/30/2024

Sector	Weight
Technology	35.31%
Communication Services	13.01%
Financial Services	11.27%
Healthcare	10.81%
Industrials	7.90%
Consumer Cyclical	7.24%
Energy	5.64%
Consumer Defensive	3.92%
Utilities	3.05%
Basic Materials	1.15%
Real Estate	0.69%

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