LGLZ Cannabis ETF

The Subversive Cannabis ETF (Ticker: LGLZ) is an actively-managed fund that invests in companies that we believe will thrive as the legal marijuana industry expands. LGLZ is a call to action, not a prediction. We believe that some federal action will afford cannabis banking and interstate commerce within the next few years, which we believe will trigger institutional capital flooding the market and a massive tide for cannabis valuations. 

The fund’s constituents include companies that derive at least 50% of their net revenue from legal THC-related sales, with a particular focus on companies with cash flow from operations.¹

FUND DATA & PRICING
Net Assets as of 03/01/2024 $537,491.58
NAV $21.50
Shares Outstanding 25,000
Premium/discount Percentage 0.17%
Closing Price $21.54
Median 30 Day Spread 1.53%

Data as of 03/01/2024

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Median 30 Day 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.

FUND DETAILS
Fund Inception 09/19/2023
Ticker LGLZ
Primary Exchange CBOE
CUSIP 886364421
ISIN US8863644212
IOPV Symbol LGLZ.IV
NAV Symbol LGLZ.NV
Expense Ratio 0.75%
PERFORMANCE As of 12/31/2023
 
  QUARTER 1 YEAR 3 YEAR SINCE INCEPTION
Fund NAV -15.66% 0.00% 0.00% -25.57%
Market Price -15.59% 0.00% 0.00% -25.84%
Benchmark Index (S&P 500)² 11.69% 0.00% 0.00% 7.81%

Expense ratio: 0.75%

The performance data quoted represents past performance. Past performance does not guarantee future results. 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 and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (877-291-4040).

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

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.

DISTRIBUTION DETAIL
EX-DATE RECORD DATE 1 YEAR PAYABLE DATE
XXXX XXXX XXXX XXXX
TOP HOLDINGS
% OF NET ASSETS NAME TICKER CUSIP SHARES HELD MARKET VALUE
38.15% GREEN THUMB INDS INC SWAP 39342L108 TRS 101824 39342L108 TRS 101824 15,717 205,028.27
21.94% CURALEAF HLDGS INC SWAP 23126M102 TRS 101824 23126M102 TRS 101824 24,318 117,942.30
17.94% Cash & Other Cash&Other Cash&Other 96,443 96,442.87
14.65% VERANO HLDGS CORP SWAP 92338D101 TRS 101824 92338D101 TRS 101824 15,590 78,729.50
7.17% CRESCO LABS INC SWAP 22587M106 TRS 101824 22587M106 TRS 101824 22,533 38,531.43

Data as of 03/04/2024. Holdings are subject to change.