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Name

As of 04/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

WHITEWOLF Publicly Listed Private Equity ETF

LBO | Active ETF

$28.79

$2.02 M

4.82%

$1.39

6.82%

Vitals

YTD Return

8.7%

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$2.02 M

Holdings in Top 10

58.9%

52 WEEK LOW AND HIGH

$28.6
$25.22
$28.93

Expenses

OPERATING FEES

Expense Ratio 6.82%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

WHITEWOLF Publicly Listed Private Equity ETF

LBO | Active ETF

$28.79

$2.02 M

4.82%

$1.39

6.82%

LBO - Profile

Distributions

  • YTD Total Return 8.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    WHITEWOLF Publicly Listed Private Equity ETF
  • Fund Family Name
    CAMBRIA INVESTMENT MANAGEMENT, LP
  • Inception Date
    Nov 30, 2023
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of U.S. publicly listed private equity companies. The Fund defines “listed private equity companies” as Leverage Finance Providers (as defined below) and Buyout Firms, Sponsors, and Asset Managers (as defined below) (collectively, “Listed Private Equity Companies”) that are listed and traded on a U.S. national securities exchange. Leverage Finance Providers include Business Development Companies (BDCs), finance companies, and direct lenders. Buyout Firms, Sponsors, and Asset Managers include companies whose principal business is to invest in or lend capital to privately held companies. The strategies these Listed Private Equity Companies use when investing in, lending capital to, or providing services to privately held companies may be characterized generally as follows: buyouts or leveraged buyouts, venture capital, special situations, growth investments and private infrastructure. The Sub-Adviser excludes banks, real estate-focused companies and/or real estate investment trusts from the Fund’s investment universe.
When selecting investments, White Wolf Capital Advisors, LLC, the sub-adviser to the Fund (“White Wolf” or the “Sub-Adviser”), expects to evaluate a company’s credit performance and risk level, potential changes in the company’s earnings and dividend levels, the impact of changes in interest rates on the company, and differences among various companies in leverage and balance sheet structures. The Sub-Adviser may also consider a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, and capital policies when selecting investments for the Fund. This strategy seeks to provide investors with the opportunity to gain exposure to a diversified basket of liquid assets with meaningful current income generation and long-term capital appreciation.
Generally, the Sub-Adviser intends to allocate the Fund’s assets among investments in Listed Private Equity Companies as follows: 40% to 60% of the Fund’s net assets invested in Leverage Finance Providers; and the remaining 40% to 60% of the Fund’s net assets invested in Buyout Firms, Sponsors, and Asset Managers. The foregoing portfolio allocation policy may be changed based on the Sub-Adviser’s view of the markets. It is anticipated that the Fund will hold 25 to 40 Listed Private Equity Companies within the portfolio. The Sub-Adviser will actively monitor the Fund’s portfolio and expects to rebalance the Fund’s portfolio at least quarterly. The Fund’s investments in Listed Private Equity Companies may be classified as small-, mid- or large- capitalization investments.
The Sub-Adviser’s security selection process applies a number of both qualitative and quantitative criteria to help identify the best investment opportunities from the Fund’s investment universe. With respect to qualitative selection criteria, the securities that fit the description above represent the entire universe of securities taken into consideration. The quantitative factors employed by the Sub-Adviser when selecting investments for the Fund focus on the following factors: liquidity, income, volatility, and value. When considering an investment’s liquidity, the Sub-Adviser analyzes, among other things, an investment’s market capitalization and the impact that has on its liquidity. Generally, companies with larger capitalization tend to have greater liquidity. The Fund may invest in small-, mid- and large capitalization companies as long as they satisfy the Sub-Adviser’s liquidity standards. Next, the Sub-Adviser analyzes a company’s volatility (i.e., the extent to which a company’s stock price moves up or down in relation to the overall market) seeking those companies that tend to be less volatile than the overall market. The Sub-Adviser then considers a company’s dividend yield, seeking those investments that provide the Fund with attractive current income. Lastly, the Sub-Adviser will analyze a company’s price/earnings ratio, looking for those investment opportunities that provide upside potential (i.e., those that have a low price-to-earnings ratio). The Sub-Adviser’s value-oriented approach is designed to identify investments that provide current income, low volatility, and the potential for capital appreciation.
The Fund concentrates (i.e., invests more than 25% of its total assets) in securities of companies in the financial services industry or group of related industries.
The Fund considers a “U.S.” company to be one (i) domiciled or with a principal place of business or primary securities trading market in the United States, or (ii) that derives more than 50% of its total revenues or profits from the United States and whose stock is listed on an exchange that trades contemporaneously with the Shares.
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LBO - Performance

Return Ranking - Trailing

Period LBO Return Category Return Low Category Return High Rank in Category (%)
YTD 8.7% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period LBO Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period LBO Return Category Return Low Category Return High Rank in Category (%)
YTD 8.7% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period LBO Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

LBO - Holdings

Concentration Analysis

LBO Category Low Category High LBO % Rank
Net Assets 2.02 M N/A N/A N/A
Number of Holdings 40 N/A N/A N/A
Net Assets in Top 10 798 K N/A N/A N/A
Weighting of Top 10 58.87% N/A N/A N/A

Top 10 Holdings

  1. FS KKR CAP CORP COM 8.08%
  2. ARES CAPITAL CORP COM 8.00%
  3. BLACKSTONE SECD LENDING FD 6.93%
  4. KKR CO INC 5.72%
  5. BLUE OWL CAPITAL INC 5.32%
  6. BLACKSTONE INC 5.30%
  7. HERCULES CAPITAL INC 5.10%
  8. TPG INC 5.02%
  9. CARLYLE GROUP INC 4.81%
  10. APOLLO GLOBAL MGMT INC 4.59%

Asset Allocation

Weighting Return Low Return High LBO % Rank
Stocks 		99.45% N/A N/A N/A
Cash 		0.56% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High LBO % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High LBO % Rank
US 		99.45% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

LBO - Expenses

Operational Fees

LBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 6.82% N/A N/A N/A
Management Fee 0.70% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

LBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

LBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

LBO - Distributions

Dividend Yield Analysis

LBO Category Low Category High LBO % Rank
Dividend Yield 4.82% N/A N/A N/A

Dividend Distribution Analysis

LBO Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

LBO Category Low Category High LBO % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

LBO Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

LBO - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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