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 12/07/2023 | $1.01m |
| NAV | $20.19 |
| Shares Outstanding | 50,000 |
| Premium/discount Percentage | -0.08% |
| Closing Price | $20.18 |
| Median 30 Day Spread | 1.54% |
Data as of 12/07/2023
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 09/19/2023 | |||
|---|---|---|---|---|
| QUARTER | 1 YEAR | 3 YEAR | SINCE INCEPTION | |
| Fund NAV | 0.00% | 0.00% | 0.00% | 0.00% |
| Market Price | 0.00% | 0.00% | 0.00% | 0.00% |
| Benchmark Index (S&P 500)² | 0.00% | 0.00% | 0.00% | 0.00% |
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 |
| 35.81% | GREEN THUMB INDS INC SWAP | 39342L108 TRS 101824 | 39342L108 TRS 101824 | 31,456 | 361,518.74 |
| 28.40% | VERANO HLDGS CORP SWAP | 92338D101 TRS 101824 | 92338D101 TRS 101824 | 61,393 | 286,705.31 |
| 20.87% | CURALEAF HLDGS INC SWAP | 23126M102 TRS 101824 | 23126M102 TRS 101824 | 48,670 | 210,741.10 |
| 13.54% | CRESCO LABS INC SWAP | 22587M106 TRS 101824 | 22587M106 TRS 101824 | 74,717 | 136,732.11 |
| 1.32% | Cash & Other | Cash&Other | Cash&Other | 13,358 | 13,358.45 |
Data as of 12/08/2023. Holdings are subject to change.
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