The Meet Kevin Pricing Power ETF

Daily Performance

Name value
Net Assets $39.93m
NAV $27.07
Shares Outstanding 1,475,000.00
Premium/discount Percentage 0.00%
Closing Price $27.07
Median 30 Day Spread 0.22%
Date
05/17/2024

Key Facts

Name value date
30-Day SEC Yield 1.22
Fund Name Fund Ticker CUSIP 30-Day SEC Yield Date
The Meet Kevin Pricing Power ETF PP 88,634 1.22 04/30/2024

The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.

Median 30 Day Spread is 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 the national best offer, and identifying the median of those values.

The MeetKevin Pricing Power ETF Principal Investment Strategies

The MeetKevin Pricing Power ETF is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in the U.S.-listed equity securities of Innovative Companies.

The MeetKevin Pricing Power ETF categorizes an “Innovative Company” as a company to be involved in the development of new products or services, technological advancements, consumer engagement, and/or disruptive approaches with respect to business growth that the Sub-Adviser expects to have a significant impact on the market or industry in which the company operates.

Further, the MeetKevin Pricing Power ETF will invest in Innovative Companies that, in Kevin’s view, also have more “pricing power” than their peers.

The MeetKevin Pricing Power ETF generally analyzes pricing power based on “price elasticity,” which is the ability to potentially increase prices for products and services without a corresponding drop in demand.

In addition, The MeetKevin Pricing Power ETF may hold the securities of other ETFs, which could be passively-managed or actively-managed (“Targeted ETFs”) to seek to hedge (provide protection for the Fund’s portfolio) against particular market risks anticipated by Kevin Paffrath.

*Pricing power is defined as higher relative margins compared to market gross and net margins.

Innovative Companies with Pricing Power Selection

Kevin begins his analysis by screening an extremely large initial universe of U.S.-listed companies with a minimum market capitalization of $100 million utilizing a proprietary screening methodology. Utilizing a proprietary screening methodology, Kevin then analyzes the remaining initial universe of companies to identify those that are Innovative Companies that Kevin perceives as having pricing power versus their peers.

Kevin, using his own internal research and analysis, analyzes company self-reported data (e.g., press releases and regulatory filings) as well as third-party data, such as news articles and social media posts, to identify companies that are capitalizing on:

  • Pricing power, as exhibited by price elasticity (as described above);
  • development of new products or services;
  • consumer engagement, which refers to a company’s efforts to build relationships with individuals through personalized interactions on multiple channels (for example, traditional versus social channels), with the goal of gaining and retaining loyal customers. Successful consumer engagement accomplishes that goal by distinguishing a brand from those of its competitors. Further, if the customer engagement results in with high customer retention (e.g., lower customer turnover), the company would likely have stronger and therefore, pricing power which is believed to be stronger than its competitors;
  • technological advancements and innovation in the markets in which they operate; or physical or digital infrastructure designed to enable broader market use of new technologies (e.g., artificial intelligence systems) in the markets in which they operate.

In particular, Kevin considers each candidate company’s track record of disrupting mature industries (e.g., electric vehicles) or operating within disruptive industries (e.g., social media, blockchain), and/or a company’s historical patterns of launching hardware or software products that are first-to-market.

Kevin favors companies that remain founder-led, report spending more on research and development than their peers, and have a strong history of customer satisfaction. Once Kevin has identified a set of Innovative Companies with pricing power screened for the above, Kevin performs a bottoms-up analysis of each candidate.

That is, Kevin performs a company-by-company analysis of various financial factors such as price over earnings-to-growth ratio (PEG*), revenue, and margin growth. Kevin selects those Innovative Companies with, in Kevin’s view, above average growth potential across the metrics considered for inclusion in the MeetKevin Pricing Power ETF portfolio.

While the metrics considered are largely consistent, there may be industry-specific variability (e.g., margin and growth metrics typically vary by industry).

* The price/earnings to growth ratio (PEG ratio) is a stock's price-to-earnings (P/E) ratio divided by the growth rate of its earnings for a specified time period.

Performance

Fund Name Fund Ticker 1 Month 3 Month 6 Month YTD Since Inception Cumulative 1 Year 3 Year 5 Year Since Inception Annualized Date
The Meet Kevin Pricing Power ETF PP NAV -5.54 5.14 24.07 -1.95 27.98 19.99 - - 18.99
The Meet Kevin Pricing Power ETF PP MKT -5.34 7.19 24.22 -1.72 28.39 20.38 - - 19.25
S&P 500 TR SPTR2 -4.08 4.29 20.98 6.04 29.94 22.66 - - 20.27
As of:
04/30/2024
Fund Name Fund Ticker 1 Month 3 Month 6 Month YTD Since Inception Cumulative 1 Year 3 Year 5 Year Since Inception Annualized Date
The Meet Kevin Pricing Power ETF PP NAV -0.60 3.8 14.04 3.8 35.49 15.24 - - 25.5 03/31/2024
The Meet Kevin Pricing Power ETF PP MKT -0.59 3.83 14.27 3.83 35.63 15.33 - - 25.6 03/31/2024
S&P 500 TR SPTR2 3.22 10.56 23.48 10.56 35.48 29.88 - - 25.5 03/31/2024
As of:
03/31/2024

The market price is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share's portion of the fund's underlying assets and cash at the end of the trading day.

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 over 1 year is annualized.

For the most recent month-end performance, please call (805) 888-2480‬ or visit the Fund's website at www.mketf.com

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.

Top Holdings

Date Account StockTicker CUSIP SecurityName Shares Price MarketValue Weightings NetAssets SharesOutstanding CreationUnits MoneyMarketFlag
PP AAPL 37,833,100 Apple Inc 24,024 191.04 4,589,544.96 11.47% 40,021,027 1,475,000 59
PP AMD 7,903,107 Advanced Micro Devices Inc 8,628 166.33 1,435,095.24 3.59% 40,021,027 1,475,000 59
PP AMZN 23,135,106 Amazon.com Inc 22,084 183.54 4,053,297.36 10.13% 40,021,027 1,475,000 59
PP ASML 0 ASML Holding NV 1,612 939.44 1,514,377.28 3.78% 40,021,027 1,475,000 59
PP CMG 169,656,105 Chipotle Mexican Grill Inc 238 3,176.39 755,980.82 1.89% 40,021,027 1,475,000 59
PP ENPH 29,355 Enphase Energy Inc 17,181 113.45 1,949,184.45 4.87% 40,021,027 1,475,000 59
PP ERJ 29,082 Embraer SA 45,489 30.51 1,387,869.39 3.47% 40,021,027 1,475,000 59
PP FGXXX 31,846 First American Government Obligations Fund 12/01/2031 7,271,374 100.00 7,271,374.61 18.17% 40,021,027 1,475,000 59 Y
PP GOLD 67,901,108 Barrick Gold Corp 43,119 17.92 772,692.48 1.93% 40,021,027 1,475,000 59
PP GOOG 2,079 Alphabet Inc 4,577 178.46 816,811.42 2.04% 40,021,027 1,475,000 59
PP INTC 458,140,100 Intel Corp 18,625 32.10 597,862.50 1.49% 40,021,027 1,475,000 59
PP META 30,303 Meta Platforms Inc 2,521 468.84 1,181,945.64 2.95% 40,021,027 1,475,000 59
PP NVDA 67,066 NVIDIA Corp 3,274 947.80 3,103,097.20 7.75% 40,021,027 1,475,000 59
PP PLTR 69,608 Palantir Technologies Inc 61,665 21.62 1,333,197.30 3.33% 40,021,027 1,475,000 59
PP RH 74,967 RH 833 279.93 233,181.69 0.58% 40,021,027 1,475,000 59
PP TSLA 88,160 Tesla Inc 26,455 174.95 4,628,302.25 11.56% 40,021,027 1,475,000 59
PP TSM 874,039,100 Taiwan Semiconductor Manufacturing Co Ltd 11,094 153.55 1,703,483.70 4.26% 40,021,027 1,475,000 59
PP TTD 88,339 Trade Desk Inc/The 23,088 97.50 2,251,080.00 5.62% 40,021,027 1,475,000 59
PP W 94,419 Wayfair Inc 6,509 67.11 436,818.99 1.09% 40,021,027 1,475,000 59
PP Cash&Other 0 Cash & Other 6,050 1.00 6,050.14 0.02% 40,021,027 1,475,000 59 Y
As of:
05/21/2024

Download the Full List of Holdings

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Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (805) 888-2480‬ or visit our website at www.mketf.com. Read the prospectus or summary prospectus carefully before investing. 

Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Equity Market Risk. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific issuers, industries, or sectors in which the Fund invests. Common stocks, such as those held by the Fund, are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations because common stockholders generally have inferior rights to receive payment from issuers.

Securities in the Fund’s portfolio may underperform in comparison to securities in the general financial markets, a particular financial market, or other asset classes, due to a number of factors. Factors that could impact the market value of equity security include a company’s business performance, investor perceptions, stock market trends, and general economic conditions. 

Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments.

The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation, and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market.

Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

Market Capitalization Risk. Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.

Mid-Capitalization Investing. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. The securities of mid-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large-capitalization stocks or the stock market as a whole.

Small-Capitalization Investing. The securities of small-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large- or mid-capitalization companies. The securities of small-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large- or mid-capitalization stocks or the stock market as a whole. There is typically less publicly available information concerning smaller-capitalization companies than for larger, more established companies.

Management Risk. The Fund is actively-managed and may not meet its investment objective based on the Sub-Adviser’s success or failure to implement investment strategies for the Fund.

Underlying ETFs Risks. The Fund will incur higher and duplicative expenses because it invests in Targeted ETFs. There is also the risk that the Fund may suffer losses due to the investment practices of the Targeted ETFs. The Fund will be subject to substantially the same risks as those associated with the direct ownership of securities held by the Targeted ETFs. Additionally, Targeted ETFs are also subject to the “ETF Risks” described above. 

For more information about the risks of investing in the Fund, see the section in the Fund’s Prospectus titled “Additional Information About the Fund - Principal Risks of Investing in the Fund.

Foreside Fund Services, LLC is the distributor for this fund.