Active Index Investing to Bridge the Gap of Volatility
The Bridges Capital Tactical ETF (the “Fund”) seeks to provide capital appreciation while preserving capital during market drawdowns.
The Sub-Adviser will deduct for overlap between indexes and remove some names based on its proprietary valuation and volatility analysis. The Sub-Adviser will then filter these companies based on its analysis of company growth opportunities, volatility, and downside risk to select the large-capitalization U.S. equity securities for the Fund. Under normal circumstances, the Fund primarily invests in common stocks and shares of ETFs that invest primarily in common stocks or cash-equivalents. The Fund seeks to provide capital appreciation with a focus on capital preservation during periods determined by the Sub-Adviser to pose greater risk of overall market drawdowns. To identify portfolio investments, the Sub-Adviser has developed a proprietary multi-step investment process.
| 1 | Description | BDGS | 
|---|---|---|
| 1 | Ticker | BDGS | 
| 2 | CUSIP | 02072L474 | 
| 3 | Exchange | Nasdaq | 
| 4 | Inception | 2023-05-10 | 
| 5 | Management Fee | 0.78% | 
| 6 | Affiliated Funds Fee | 0.10%* | 
| 7 | Gross Expense Ratio | 0.8800% | 
| 8 | 30-Day Bid/Ask Spread | 0.2% | 
| 9 | AUM ($mm) | $40.85 | 
| 10 | As of Date | 2025-10-31 | 
| Field | Last | 1-Day Change ($) | 1-Day Change (%) | 
|---|---|---|---|
| NAV | $34.92 | $-0.16 | -0.47% | 
| Market Price | $34.92 | $-0.16 | -0.45% | 
| Premium / Discount | 0% | 
| As of Date | 
|---|
| 09/30/2025 | 
| Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | 
|---|---|---|---|---|---|---|---|---|---|---|---|
| BDGS | MKT | 8.93 | 1.68 | 4.22 | 10.41 | 14.64 | 15.37 | 09/30/2025 | |||
| BDGS | NAV | 8.95 | 1.65 | 4.25 | 10.48 | 14.68 | 15.36 | 09/30/2025 | 
| As of Date | 
|---|
| 09/30/2025 | 
| Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | 
|---|---|---|---|---|---|---|---|---|---|---|---|
| BDGS | MKT | 8.93 | 1.68 | 4.22 | 10.41 | 14.64 | 15.37 | 09/30/2025 | |||
| BDGS | NAV | 8.95 | 1.65 | 4.25 | 10.48 | 14.68 | 15.36 | 09/30/2025 | 
| Period | Days Traded at Premium | Days Traded at Discount | 
|---|---|---|
| 2025 Q3 | 50 | 4 | 
| 2025 Q2 | 45 | 15 | 
| 2025 Q1 | 47 | 9 | 
| 2024 | 143 | 84 | 
| Ex Date | Record Date | Payable Date | Income | Short Term Capital Gain | Long Term Capital Gain | Total Capital Gain | Total Distro | 
|---|---|---|---|---|---|---|---|
| 12/20/2023 | 12/21/2023 | 12/22/2023 | 0.2260 | 0.2260 | |||
| 12/30/2024 | 12/30/2024 | 12/31/2024 | 0.5708 | 0.5708 | 
| Ticker | Name | CUSIP | Shares | Price | Market Value ($mm) | % of Net Assets | EFFECTIVE_DATE | 
|---|---|---|---|---|---|---|---|
| BOXX | Alpha Architect 1-3 Month Box ETF | 02072L565 | 191,566 | 114.16 | 21.87 | 53.53 | 10/31/2025 | 
| GOOG | Alphabet Inc | 02079K107 | 2,281 | 281.90 | 0.64 | 1.57 | 10/31/2025 | 
| AMZN | Amazon.com Inc | 023135106 | 2,662 | 222.86 | 0.59 | 1.45 | 10/31/2025 | 
| AAPL | Apple Inc | 037833100 | 2,269 | 271.40 | 0.62 | 1.51 | 10/31/2025 | 
| AVGO | Broadcom Inc | 11135F101 | 1,655 | 376.47 | 0.62 | 1.53 | 10/31/2025 | 
| CVX | Chevron Corp | 166764100 | 3,944 | 153.52 | 0.61 | 1.48 | 10/31/2025 | 
| COST | Costco Wholesale Corp | 22160K105 | 1,255 | 918.88 | 1.15 | 2.82 | 10/31/2025 | 
| META | Meta Platforms Inc | 30303M102 | 810 | 666.47 | 0.54 | 1.32 | 10/31/2025 | 
| FGXXX | First American Government Obligations Fund 12/01/2031 | 31846V336 | 167,589 | 100.00 | 0.17 | 0.41 | 10/31/2025 | 
| SPMO | Invesco S&P 500 Momentum ETF | 46138E339 | 9,881 | 121.80 | 1.20 | 2.95 | 10/31/2025 | 
| MSFT | Microsoft Corp | 594918104 | 1,123 | 525.76 | 0.59 | 1.45 | 10/31/2025 | 
| NFLX | Netflix Inc | 64110L106 | 995 | 1,089.00 | 1.08 | 2.65 | 10/31/2025 | 
| NVDA | NVIDIA Corp | 67066G104 | 3,137 | 202.89 | 0.64 | 1.56 | 10/31/2025 | 
| PLTR | Palantir Technologies Inc | 69608A108 | 3,234 | 194.55 | 0.63 | 1.54 | 10/31/2025 | 
| PEP | PepsiCo Inc | 713448108 | 4,008 | 147.55 | 0.59 | 1.45 | 10/31/2025 | 
| TSLA | Tesla Inc | 88160R101 | 1,311 | 440.10 | 0.58 | 1.41 | 10/31/2025 | 
| 912797PD3 | United States Treasury Bill 01/22/2026 | 912797PD3 | 8,210,000 | 99.13 | 8.14 | 19.92 | 10/31/2025 | 
| SMH | VanEck Semiconductor ETF | 92189F676 | 1,686 | 363.73 | 0.61 | 1.50 | 10/31/2025 | 
| Cash&Other | Cash & Other | -23,985 | 1.00 | -0.02 | -0.06 | 10/31/2025 |