AZTD

Aztlan Global Stock Selection DM SMID ETF

Investment Objective

The Aztlan Global Stock Selection DM SMID ETF (the “Fund”) seeks to track the performance, before fees and expenses, of the Solactive Aztlan Global Developed Markets SMID Cap Index (the “Index”).

Fund Summary

AZTD is Atzlan’s stock selection ETF, a unique rules-based strategy that selects the top 27 stocks based on fundamental factors. AZTD uses a proprietary 6-factor fundamental model to assign stock rankings: cash flow generation, value, growth, capital structure quality, earnings revisions and momentum. The Fund’s stock picks represent companies in developed markets across North America, Western Europe and Developed Asia, with market caps between $500 million and $10 billion. Energy, Real Estate and Pharmaceuticals are excluded.

Fund Documents

Fund Details

wdt_ID	Name	Information
1	Fund Inception	08/18/2022
2	Ticker	AZTD
3	Primary Exchange	NYSE
4	CUSIP	886364470
5	IPOV Symbol	AZTD.IV
6	NAV Symbol	AZTD.NV
7	Expense Ratio	0.75%

Name	value	date
30-Day SEC Yield	0.8	11/30/2024

Name	value	date
30-Day SEC Yield	0.75	11/30/2024

*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.

Fund Data & Pricing

Name	value
Net Assets	$28.80m
NAV	$25.05
Shares Outstanding	1,150,000.00
Premium/discount Percentage	0.30%
Closing Price	$25.12
Median 30 Day Spread**	0.4%

Name
12/02/2024

*30-Day Median 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.

Performance

Month-End

Quarter-End

Month-End

Name
11/30/2024

Fund Name	Fund Name	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception Cumulative	Since Inception Annualized	Date
Aztlan Global Stock Selection DM SMID ETF	AZTD NAV	6.98	6.29	13.45	13.97	20.76	–	–	24.88	10.2	11/30/2024
Aztlan Global Stock Selection DM SMID ETF	AZTD MKT	7.11	6.49	13.34	14.6	20.72	–	–	25.13	10.29	11/30/2024
MSCI World SMID Cap Index Gross Total Return	M2WOSM	6.23	5.77	11.73	16.82	26.51	–	–	27.36	11.15	11/30/2024
S&P 500 TR	SPTR2	5.87	7.15	15.07	28.07	33.89	–	–	46.26	18.08	11/30/2024
Solactive Aztlan Global Developed Markets SMID Cap Index TR	SOLAZDMT	7.44	7.2	14.67	17	24.15	–	–	31.51	12.72	11/30/2024

Quarter-End

Name
09/30/2024

Fund Name	Fund Name	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception Cumulative	Since Inception Annualized	Date
Aztlan Global Stock Selection DM SMID ETF	AZTD NAV	5.10	14.76	14.31	12.69	24.88	–	–	23.48	10.46	09/30/2024
Aztlan Global Stock Selection DM SMID ETF	AZTD MKT	5.14	14.67	14.23	13.15	25.01	–	–	23.54	10.48	09/30/2024
MSCI World SMID Cap Index Gross Total Return	M2WOSM	2.22	9.83	6.82	12.91	26.65	–	–	23.09	10.29	09/30/2024
S&P 500 TR	SPTR2	2.14	5.89	10.42	22.08	36.35	–	–	39.41	16.96	09/30/2024
Solactive Aztlan Global Developed Markets SMID Cap Index TR	SOLAZDMT	5.29	15.35	15.39	14.92	27.60	–	–	29.17	12.83	09/30/2024

The performance data quoted above 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 above. Performance current to the most recent month-end can be obtained by calling . 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 historical returns. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

Distribution Detail

Ex Date	Record Date	Payable Date	Amount
12/26/2023	12/27/2023	12/28/2023	0.03

Top 10 Holdings

Name
12/04/2024

Date	Account	StockTicker	Name	CUSIP	Shares	Price	Market Value	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag
12/04/2024	AZTD	3197 JP	Skylark Holdings Co Ltd	BQQD167	34,252	2,353.00	540,271.20	1.86%	29,005,990	1,150,000	46
12/04/2024	AZTD	4680 JP	Round One Corp	6248365	83,221	1,104.00	615,893.98	2.12%	29,005,990	1,150,000	46
12/04/2024	AZTD	5021 JP	Cosmo Energy Holdings Co Ltd	BYSJJ43	10,671	6,712.00	480,132.41	1.66%	29,005,990	1,150,000	46
12/04/2024	AZTD	5706 JP	Mitsui Mining & Smelting Co Ltd	6597346	16,438	4,836.00	532,892.03	1.84%	29,005,990	1,150,000	46
12/04/2024	AZTD	5929 JP	Sanwa Holdings Corp	6776781	20,646	4,653.00	643,980.81	2.22%	29,005,990	1,150,000	46
12/04/2024	AZTD	8174 JP	Nippon Gas Co Ltd	6640068	38,784	2,046.00	531,939.43	1.83%	29,005,990	1,150,000	46
12/04/2024	AZTD	8354 JP	Fukuoka Financial Group Inc	B1TK1Y8	22,976	4,308.00	663,520.08	2.29%	29,005,990	1,150,000	46
12/04/2024	AZTD	ACS SM	ACS Actividades de Construccion y Servicios SA	B01FLQ6	11,174	46.60	547,652.92	1.89%	29,005,990	1,150,000	46
12/04/2024	AZTD	AFRM	Affirm Holdings Inc	00827B106	12,017	70.76	850,322.92	2.93%	29,005,990	1,150,000	46
12/04/2024	AZTD	ALKT	Alkami Technology Inc	01644J108	14,556	38.42	559,241.52	1.93%	29,005,990	1,150,000	46
12/04/2024	AZTD	ANF	Abercrombie & Fitch Co	002896207	4,044	154.97	626,698.68	2.16%	29,005,990	1,150,000	46
12/04/2024	AZTD	BLBD	Blue Bird Corp	095306106	12,581	41.72	524,879.32	1.81%	29,005,990	1,150,000	46
12/04/2024	AZTD	CAL	CALERES INC COM	129500104	17,763	32.47	576,764.61	1.99%	29,005,990	1,150,000	46
12/04/2024	AZTD	CLS CN	Celestica Inc	BSCB6L9	7,805	125.82	698,130.38	2.41%	29,005,990	1,150,000	46
12/04/2024	AZTD	COOP	Mr Cooper Group Inc	62482R107	6,018	96.74	582,181.32	2.01%	29,005,990	1,150,000	46
12/04/2024	AZTD	CROX	Crocs Inc	227046109	4,915	111.25	546,793.75	1.89%	29,005,990	1,150,000	46
12/04/2024	AZTD	DOKA SW	DORMA + KABA HOLDING AG	7050417	701	658.00	520,989.44	1.80%	29,005,990	1,150,000	46
12/04/2024	AZTD	DVA	DAVITA INC	23918K108	3,812	164.01	625,206.12	2.16%	29,005,990	1,150,000	46
12/04/2024	AZTD	ENVA	Enova International Inc	29357K103	6,132	105.65	647,845.80	2.23%	29,005,990	1,150,000	46
12/04/2024	AZTD	FGXXX	First American Government Obligations Fund 12/01/2031	31846V336	68,442	100.00	68,442.82	0.24%	29,005,990	1,150,000	46	Y
12/04/2024	AZTD	FIX	Comfort Systems USA Inc	199908104	1,357	495.75	672,732.75	2.32%	29,005,990	1,150,000	46
12/04/2024	AZTD	FNTN GR	Freenet AG	B1SK0S6	18,111	29.30	558,111.38	1.92%	29,005,990	1,150,000	46
12/04/2024	AZTD	GAP	Gap Inc/The	364760108	25,657	25.79	661,694.03	2.28%	29,005,990	1,150,000	46
12/04/2024	AZTD	GFF	Griffon Corp	398433102	8,475	82.82	701,899.50	2.42%	29,005,990	1,150,000	46
12/04/2024	AZTD	IDR SM	Indra Sistemas SA	4476210	30,348	16.78	535,590.49	1.85%	29,005,990	1,150,000	46
12/04/2024	AZTD	ITV LN	ITV PLC	3398649	561,144	0.72	513,289.11	1.77%	29,005,990	1,150,000	46
12/04/2024	AZTD	IVG IM	Iveco Group NV	BKPGF52	51,362	9.67	522,371.20	1.80%	29,005,990	1,150,000	46
12/04/2024	AZTD	JBH AU	JB Hi-Fi Ltd	6702623	9,924	92.80	596,541.80	2.06%	29,005,990	1,150,000	46
12/04/2024	AZTD	JPY	JAPANESE YEN	CASHJPY	2,402,905	1.00	16,107.96	0.06%	29,005,990	1,150,000	46
12/04/2024	AZTD	MKS LN	Marks & Spencer Group PLC	3127489	110,347	4.00	559,097.43	1.93%	29,005,990	1,150,000	46
12/04/2024	AZTD	MX CN	Methanex Corp	2654416	13,646	66.59	645,993.77	2.23%	29,005,990	1,150,000	46
12/04/2024	AZTD	NEX FP	Nexans SA	7130836	3,856	106.40	431,508.62	1.49%	29,005,990	1,150,000	46
12/04/2024	AZTD	NMIH	NMI Holdings Inc	629209305	13,777	40.21	553,973.17	1.91%	29,005,990	1,150,000	46
12/04/2024	AZTD	NSIT	Insight Enterprises Inc	45765U103	3,047	160.01	487,550.47	1.68%	29,005,990	1,150,000	46
12/04/2024	AZTD	NST AU	Northern Star Resources Ltd	6717456	45,915	16.13	479,728.04	1.65%	29,005,990	1,150,000	46
12/04/2024	AZTD	OSCR	Oscar Health Inc	687793109	31,721	17.99	570,660.79	1.97%	29,005,990	1,150,000	46
12/04/2024	AZTD	PLMR	Palomar Holdings Inc	69753M105	5,936	108.13	641,859.68	2.21%	29,005,990	1,150,000	46
12/04/2024	AZTD	PNDORA DC	Pandora A/S	B44XTX8	3,546	1,186.50	593,308.56	2.05%	29,005,990	1,150,000	46
12/04/2024	AZTD	POWL	Powell Industries Inc	739128106	2,090	268.93	562,063.70	1.94%	29,005,990	1,150,000	46
12/04/2024	AZTD	PPC	Pilgrim's Pride Corp	72147K108	11,001	51.27	564,021.27	1.94%	29,005,990	1,150,000	46
12/04/2024	AZTD	RXST	RxSight Inc	78349D107	10,519	43.56	458,207.64	1.58%	29,005,990	1,150,000	46
12/04/2024	AZTD	SMG	Scotts Miracle-Gro Co/The	810186106	6,127	75.86	464,794.22	1.60%	29,005,990	1,150,000	46
12/04/2024	AZTD	SQN SW	Swissquote Group Holding SA	B1X3KP7	1,567	352.20	623,366.35	2.15%	29,005,990	1,150,000	46
12/04/2024	AZTD	STRL	Sterling Infrastructure Inc	859241101	3,435	195.54	671,679.90	2.32%	29,005,990	1,150,000	46
12/04/2024	AZTD	TMV GR	TeamViewer SE	BJ7WGS1	37,228	11.87	464,566.91	1.60%	29,005,990	1,150,000	46
12/04/2024	AZTD	TOST	Toast Inc	888787108	17,679	42.42	749,943.18	2.59%	29,005,990	1,150,000	46
12/04/2024	AZTD	UPBD	Upbound Group Inc	76009N100	18,225	34.24	624,024.00	2.15%	29,005,990	1,150,000	46
12/04/2024	AZTD	VCTR	Victory Capital Holdings Inc	92645B103	8,892	69.30	616,215.60	2.12%	29,005,990	1,150,000	46
12/04/2024	AZTD	VIRT	Virtu Financial Inc	928254101	17,213	37.95	653,147.29	2.25%	29,005,990	1,150,000	46
12/04/2024	AZTD	WAWI NO	Wallenius Wilhelmsen ASA	B55WMQ5	54,347	107.70	529,531.09	1.83%	29,005,990	1,150,000	46
12/04/2024	AZTD	WRT1V FH	Wartsila OYJ Abp	4525189	28,078	17.69	522,402.00	1.80%	29,005,990	1,150,000	46
12/04/2024	AZTD	YOU	Clear Secure Inc	18467V109	14,489	25.88	374,975.32	1.29%	29,005,990	1,150,000	46
12/04/2024	AZTD	Cash&Other	Cash & Other	Cash&Other	668	1.00	668.17	0.00%	29,005,990	1,150,000	46	Y

Holdings are subject to change without notice.

Purchase

The Fund (AZTD) is available through various channels including via phone (800) 886-4107, broker-dealers, investment advisers, and other financial services firms, including: