ETF Foundry
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.
SummaryProspectusSAIFact SheetHoldings

Daily Holdings · Draft

Foundry Book-to-Market Value Industry-Neutral Factor ETF

FBMR · ETF Foundry Research (hypothetical) · Generated 2026-09-12 · Holdings as of July 2026

csv xlsx

Fund

ItemValue
Ticker (pseudo)FBMR
CUSIPNot applicable (hypothetical model portfolio)
Listing exchangeNot listed (hypothetical)
Underlying modelBook-to-Market Value factor (Industry-relative (FF48))
Placeholder expense ratio0.35%
Placeholder inception date2022-10-22
Number of holdings (long leg)225
WeightingCap-weighted
Rebalance frequencyMonthly
Holdings as ofJuly 2026

Holdings as of July 2026 (225 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)

#TickerCompanySectorWeightMarket ValueCUSIP
1SWSMURFIT WESTROCK PLCConsumer Cyclical5.79%$5,790,108HYP-SW
2LENLENNAR CORPConsumer Cyclical5.04%$5,036,222HYP-LEN
3NLYANNALY CAPITAL MANAGEMENT INCReal Estate4.20%$4,201,989HYP-NLY
4CDECOEUR MINING INCBasic Materials3.70%$3,699,581HYP-CDE
5SMCISUPER MICRO COMPUTER INCTechnology3.62%$3,624,095HYP-SMCI
6UHALU-HAUL HOLDING COIndustrials3.48%$3,484,063HYP-UHAL
7ARCCARES CAPITAL CORPFinancial Services3.43%$3,430,259HYP-ARCC
8AGNCAGNC INVESTMENT CORPReal Estate3.21%$3,209,782HYP-AGNC
9AREALEXANDRIA REAL ESTATE EQUITIES INCReal Estate2.18%$2,181,041HYP-ARE
10REXRREXFORD INDUSTRIAL REALTY INCReal Estate2.11%$2,107,175HYP-REXR
11BIOBIO-RAD LABORATORIES INCHealthcare2.03%$2,029,870HYP-BIO
12KMXCARMAX INCConsumer Cyclical2.03%$2,027,527HYP-KMX
13VNOVORNADO REALTY TRUSTReal Estate1.89%$1,890,985HYP-VNO
14MOSMOSAIC COBasic Materials1.75%$1,752,922HYP-MOS
15NOVNOV INCEnergy1.75%$1,745,845HYP-NOV
16TMHCTAYLOR MORRISON HOME CORPConsumer Cyclical1.68%$1,679,405HYP-TMHC
17ACMRACM RESEARCH INCTechnology1.39%$1,385,013HYP-ACMR
18CUZCOUSINS PROPERTIES INCReal Estate1.30%$1,302,325HYP-CUZ
19RITMRITHM CAPITAL CORPReal Estate1.30%$1,296,742HYP-RITM
20GHCGRAHAM HOLDINGS COConsumer Defensive1.26%$1,264,270HYP-GHC
21MTHMERITAGE HOMES CORPConsumer Cyclical1.23%$1,232,919HYP-MTH
22KRCKILROY REALTY CORPReal Estate1.17%$1,166,355HYP-KRC
23LBRDALIBERTY BROADBAND CORPCommunication Services1.10%$1,103,579HYP-LBRDA
24HHHHOWARD HUGHES HOLDINGS INCReal Estate1.04%$1,044,890HYP-HHH
25MARAMARA HOLDINGS INCFinancial Services1.02%$1,015,732HYP-MARA
26BFHBREAD FINANCIAL HOLDINGS INCFinancial Services1.00%$1,000,032HYP-BFH
27APLEAPPLE HOSPITALITY REIT INCReal Estate0.99%$990,712HYP-APLE
28GNWGENWORTH FINANCIAL INCFinancial Services0.96%$963,099HYP-GNW
29MHOM/I HOMES INCConsumer Cyclical0.95%$953,604HYP-MHO
30HIWHIGHWOODS PROPERTIES INCReal Estate0.92%$915,674HYP-HIW
31SLGSL GREEN REALTY CORPReal Estate0.91%$913,556HYP-SLG
32LBTYALIBERTY GLOBAL LTDCommunication Services0.88%$877,121HYP-LBTYA
33KBHKB HOMEConsumer Cyclical0.86%$857,160HYP-KBH
34GBDCGOLUB CAPITAL BDC INCFinancial Services0.85%$847,839HYP-GBDC
35FSKFS KKR CAPITAL CORPFinancial Services0.76%$762,858HYP-FSK
36PKPARK HOTELS & RESORTS INCReal Estate0.75%$746,710HYP-PK
37XNDUXANADU QUANTUM TECHNOLOGIES LTDTechnology0.74%$743,171HYP-XNDU
38BXMTBLACKSTONE MORTGAGE TRUST INCReal Estate0.72%$718,001HYP-BXMT
39DXDYNEX CAPITAL INCReal Estate0.71%$714,736HYP-DX
40RUNSUNRUN INCTechnology0.70%$704,468HYP-RUN
41HOGHARLEY-DAVIDSON INCConsumer Cyclical0.70%$697,291HYP-HOG
42VISNVISTANCE NETWORKS INCTechnology0.68%$681,890HYP-VISN
43DHCDIVERSIFIED HEALTHCARE TRUSTReal Estate0.55%$552,674HYP-DHC
44SHOSUNSTONE HOTEL INVESTORS INCReal Estate0.54%$544,575HYP-SHO
45AGLAGILON HEALTH INCHealthcare0.54%$539,840HYP-AGL
46PEBPEBBLEBROOK HOTEL TRUSTReal Estate0.54%$537,074HYP-PEB
47DEIDOUGLAS EMMETT INCReal Estate0.52%$522,146HYP-DEI
48ARRARMOUR RESIDENTIAL REIT INCReal Estate0.51%$513,473HYP-ARR
49KSSKOHLS CORPConsumer Cyclical0.49%$488,901HYP-KSS
50XHRXENIA HOTELS & RESORTS INCReal Estate0.48%$482,771HYP-XHR
51CCSCENTURY COMMUNITIES INCConsumer Cyclical0.47%$469,837HYP-CCS
52RLJRLJ LODGING TRUSTReal Estate0.45%$450,947HYP-RLJ
53QUBTQUANTUM COMPUTING INCTechnology0.44%$438,411HYP-QUBT
54IMKTAINGLES MARKETS INCConsumer Defensive0.43%$426,723HYP-IMKTA
55PLABPHOTRONICS INCTechnology0.42%$423,932HYP-PLAB
56AATAMERICAN ASSETS TRUST INCReal Estate0.39%$390,289HYP-AAT
57DFHDREAM FINDERS HOMES INCConsumer Cyclical0.36%$361,330HYP-DFH
58WOLFWOLFSPEED INCTechnology0.36%$360,084HYP-WOLF
59ORCORCHID ISLAND CAPITAL INCReal Estate0.34%$342,615HYP-ORC
60LGIHLGI HOMES INCConsumer Cyclical0.34%$338,577HYP-LGIH
61UVVUNIVERSAL CORPConsumer Defensive0.33%$330,054HYP-UVV
62LADRLADDER CAPITAL CORPReal Estate0.32%$319,438HYP-LADR
63TWOTWO HARBORS INVESTMENT CORPReal Estate0.32%$316,497HYP-TWO
64FCELFUELCELL ENERGY INCIndustrials0.31%$311,613HYP-FCEL
65SAFESAFEHOLD INCReal Estate0.31%$305,158HYP-SAFE
66AZTAAZENTA INCHealthcare0.30%$301,993HYP-AZTA
67DEAEASTERLY GOVERNMENT PROPERTIES INCReal Estate0.30%$295,863HYP-DEA
68XIFRXPLR INFRASTRUCTURE LPUtilities0.28%$282,405HYP-XIFR
69SVCSERVICE PROPERTIES TRUSTReal Estate0.28%$277,421HYP-SVC
70CIMCHIMERA INVESTMENT CORPReal Estate0.27%$268,898HYP-CIM
71OCSLOAKTREE SPECIALTY LENDING CORPFinancial Services0.27%$266,705HYP-OCSL
72ABRARBOR REALTY TRUST INCReal Estate0.25%$248,313HYP-ABR
73GSBDGOLDMAN SACHS BDC INCFinancial Services0.25%$247,715HYP-GSBD
74JANXJANUX THERAPEUTICS INCHealthcare0.25%$247,117HYP-JANX
75MFAMFA FINANCIAL INCReal Estate0.24%$239,267HYP-MFA
76COURCOURSERA INCConsumer Defensive0.23%$234,582HYP-COUR
77AOSLALPHA & OMEGA SEMICONDUCTOR LTDTechnology0.23%$233,236HYP-AOSL
78HPKHIGHPEAK ENERGY INCEnergy0.23%$231,915HYP-HPK
79ARIAPOLLO COMMERCIAL REAL ESTATE FINANCE INCReal Estate0.23%$231,093HYP-ARI
80BZHBEAZER HOMES USA INCConsumer Cyclical0.22%$224,190HYP-BZH
81NPKNATIONAL PRESTO INDUSTRIES INCIndustrials0.22%$216,888HYP-NPK
82ASSTSTRIVE INCCommunication Services0.22%$216,016HYP-ASST
83JBGSJBG SMITH PROPERTIESReal Estate0.22%$216,016HYP-JBGS
84PMTPENNYMAC MORTGAGE INVESTMENT TRUSTReal Estate0.22%$215,143HYP-PMT
85HPPHUDSON PACIFIC PROPERTIES INCReal Estate0.21%$212,502HYP-HPP
86SGSWEETGREEN INCConsumer Cyclical0.21%$209,661HYP-SG
87BCSFBAIN CAPITAL SPECIALTY FINANCE INCFinancial Services0.21%$205,150HYP-BCSF
88NAVINAVIENT CORPFinancial Services0.20%$202,583HYP-NAVI
89UMACUNUSUAL MACHINES INCIndustrials0.20%$201,661HYP-UMAC
90ADAMADAMAS TRUST INCReal Estate0.20%$201,113HYP-ADAM
91MTUSMETALLUS INCBasic Materials0.20%$201,038HYP-MTUS
92RJETREPUBLIC AIRWAYS HOLDINGS INCIndustrials0.20%$200,839HYP-RJET
93MFICMIDCAP FINANCIAL INVESTMENT CORPFinancial Services0.20%$200,764HYP-MFIC
94FDUSFIDUS INVESTMENT CORPFinancial Services0.19%$192,590HYP-FDUS
95HOVHOVNANIAN ENTERPRISES INCConsumer Cyclical0.19%$192,316HYP-HOV
96KROKRONOS WORLDWIDE INCBasic Materials0.19%$188,652HYP-KRO
97IVRINVESCO MORTGAGE CAPITAL INCReal Estate0.19%$187,381HYP-IVR
98CGBDCARLYLE SECURED LENDING INCFinancial Services0.18%$180,977HYP-CGBD
99INNSUMMIT HOTEL PROPERTIES INCReal Estate0.18%$179,855HYP-INN
100PFLTPENNANTPARK FLOATING RATE CAPITAL LTDFinancial Services0.18%$179,257HYP-PFLT
101SLRCSLR INVESTMENT CORPFinancial Services0.18%$178,385HYP-SLRC
102BRSPBRIGHTSPIRE CAPITAL INCReal Estate0.18%$178,235HYP-BRSP
103MCSMARCUS CORPCommunication Services0.18%$176,516HYP-MCS
104PRAAPRA GROUP INCFinancial Services0.17%$172,229HYP-PRAA
105TRTXTPG RE FINANCE TRUST INCReal Estate0.17%$168,566HYP-TRTX
106NMFCNEW MOUNTAIN FINANCE CORPFinancial Services0.17%$167,370HYP-NMFC
107GAINGLADSTONE INVESTMENT CORPORATIONFinancial Services0.16%$164,155HYP-GAIN
108CNNECANNAE HOLDINGS INCConsumer Cyclical0.16%$163,706HYP-CNNE
109RWTREDWOOD TRUST INCReal Estate0.16%$159,769HYP-RWT
110LEGHLEGACY HOUSING CORPConsumer Cyclical0.16%$158,772HYP-LEGH
111SHENSHENANDOAH TELECOMMUNICATIONS COCommunication Services0.16%$156,903HYP-SHEN
112FBRTFRANKLIN BSP REALTY TRUST INCReal Estate0.16%$156,504HYP-FBRT
113CLDTCHATHAM LODGING TRUSTReal Estate0.16%$155,532HYP-CLDT
114NTGRNETGEAR INCTechnology0.15%$150,025HYP-NTGR
115PUBMPUBMATIC INCTechnology0.15%$147,333HYP-PUBM
116ILPTINDUSTRIAL LOGISTICS PROPERTIES TRUSTReal Estate0.15%$147,209HYP-ILPT
117KEKIMBALL ELECTRONICS INCIndustrials0.14%$143,670HYP-KE
118FLGTFULGENT GENETICS INCHealthcare0.14%$142,698HYP-FLGT
119ASIXADVANSIX INCBasic Materials0.14%$139,683HYP-ASIX
120ALOYREALLOYS INCBasic Materials0.14%$135,546HYP-ALOY
121MEIMETHODE ELECTRONICS INCTechnology0.13%$132,505HYP-MEI
122KELYAKELLY SERVICES INCIndustrials0.13%$132,356HYP-KELYA
123OISOIL STATES INTERNATIONAL INCEnergy0.13%$126,449HYP-OIS
124XRNCHIRON REAL ESTATE INCReal Estate0.13%$125,004HYP-XRN
125TWITITAN INTERNATIONAL INCIndustrials0.12%$122,886HYP-TWI
126CTGOCONTANGO SILVER & GOLD INCBasic Materials0.12%$122,686HYP-CTGO
127GDYNGRID DYNAMICS HOLDINGS INCTechnology0.12%$120,668HYP-GDYN
128BXCBLUELINX HOLDINGS INCIndustrials0.12%$117,254HYP-BXC
129KREFKKR REAL ESTATE FINANCE TRUST INCReal Estate0.12%$116,830HYP-KREF
130MTWMANITOWOC CO INCIndustrials0.12%$116,606HYP-MTW
131PANLPANGAEA LOGISTICS SOLUTIONS LTDIndustrials0.11%$114,612HYP-PANL
132GLADGLADSTONE CAPITAL CORPFinancial Services0.11%$112,095HYP-GLAD
133TITNTITAN MACHINERY INCIndustrials0.11%$111,148HYP-TITN
134NEWTNEWTEKONE INCFinancial Services0.11%$109,329HYP-NEWT
135CCRNCROSS COUNTRY HEALTHCARE INCHealthcare0.11%$106,687HYP-CCRN
136CLFDCLEARFIELD INCTechnology0.10%$103,771HYP-CLFD
137GCOGENESCO INCConsumer Cyclical0.10%$102,326HYP-GCO
138CCAPCRESCENT CAPITAL BDC INCFinancial Services0.10%$101,454HYP-CCAP
139SMCSUMMIT MIDSTREAM CORPEnergy0.10%$101,354HYP-SMC
140GBLIGLOBAL INDEMNITY GROUP LLCFinancial Services0.10%$99,684HYP-GBLI
141TCITRANSCONTINENTAL REALTY INVESTORS INCReal Estate0.10%$98,189HYP-TCI
142SHOESHOE CARNIVAL INCConsumer Cyclical0.10%$98,039HYP-SHOE
143VHIVALHI INCBasic Materials0.10%$97,965HYP-VHI
144OECORION SABasic Materials0.10%$96,270HYP-OEC
145MGPIMGP INGREDIENTS INCConsumer Defensive0.10%$95,124HYP-MGPI
146LANDGLADSTONE LAND CORPReal Estate0.09%$94,127HYP-LAND
147ZNTLZENTALIS PHARMACEUTICALS INCHealthcare0.09%$90,663HYP-ZNTL
148NCNACCO INDUSTRIES INCBasic Materials0.09%$90,139HYP-NC
149LELANDS' END INCConsumer Cyclical0.09%$88,868HYP-LE
150XPERXPERI INCTechnology0.09%$87,822HYP-XPER
151SEGSEAPORT ENTERTAINMENT GROUP INCReal Estate0.08%$82,638HYP-SEG
152TWINTWIN DISC INCIndustrials0.08%$81,193HYP-TWIN
153SARSARATOGA INVESTMENT CORPFinancial Services0.08%$79,722HYP-SAR
154NREFNEXPOINT REAL ESTATE FINANCE INCReal Estate0.08%$79,423HYP-NREF
155SSSSSURO CAPITAL CORPFinancial Services0.08%$79,000HYP-SSSS
156PAMTPAMT CORPIndustrials0.08%$77,455HYP-PAMT
157PSBDPALMER SQUARE CAPITAL BDC INCFinancial Services0.08%$76,234HYP-PSBD
158CIONCION INVESTMENT CORPFinancial Services0.08%$75,810HYP-CION
159NXDTNEXPOINT DIVERSIFIED REAL ESTATE TRUSTReal Estate0.07%$72,446HYP-NXDT
160NLNL INDUSTRIES INCIndustrials0.07%$71,847HYP-NL
161ASLEAERSALE CORPIndustrials0.07%$71,249HYP-ASLE
162AVNWAVIAT NETWORKS INCTechnology0.07%$67,013HYP-AVNW
163LOVELOVESAC COConsumer Cyclical0.07%$66,415HYP-LOVE
164NSLRNEOSTELLAR CAPITAL CORPFinancial Services0.07%$66,265HYP-NSLR
165TBITRUEBLUE INCIndustrials0.06%$64,321HYP-TBI
166CLWCLEARWATER PAPER CORPBasic Materials0.06%$64,222HYP-CLW
167ARLAMERICAN REALTY INVESTORS INCReal Estate0.06%$63,923HYP-ARL
168LTBRLIGHTBRIDGE CORPIndustrials0.06%$63,773HYP-LTBR
169NUSNU SKIN ENTERPRISES INCConsumer Defensive0.06%$63,399HYP-NUS
170RELLRICHARDSON ELECTRONICS LTDTechnology0.06%$62,328HYP-RELL
171MITTTPG MORTGAGE INVESTMENT TRUST INCReal Estate0.06%$60,558HYP-MITT
172FRDFRIEDMAN INDUSTRIES INCBasic Materials0.06%$60,384HYP-FRD
173GENCGENCOR INDUSTRIES INCIndustrials0.06%$58,664HYP-GENC
174RXSTRXSIGHT INCHealthcare0.06%$57,269HYP-RXST
175REFICHICAGO ATLANTIC REAL ESTATE FINANCE INCReal Estate0.06%$56,122HYP-REFI
176SCMSTELLUS CAPITAL INVESTMENT CORPFinancial Services0.05%$54,901HYP-SCM
177IMMRIMMERSION CORPTechnology0.05%$54,776HYP-IMMR
178SMHISEACOR MARINE HOLDINGS INCIndustrials0.05%$53,356HYP-SMHI
179KROSKEROS THERAPEUTICS INCHealthcare0.05%$52,484HYP-KROS
180RNAATRIUM THERAPEUTICS INCHealthcare0.05%$51,786HYP-RNA
181AMWLAMERICAN WELL CORPHealthcare0.05%$49,668HYP-AMWL
182TNXPTONIX PHARMACEUTICALS HOLDING CORPHealthcare0.05%$49,369HYP-TNXP
183MDVMODIV INDUSTRIAL INCReal Estate0.05%$47,500HYP-MDV
184BSETBASSETT FURNITURE INDUSTRIES INCConsumer Cyclical0.05%$46,602HYP-BSET
185INGNINOGEN INCHealthcare0.04%$44,335HYP-INGN
186KVHIKVH INDUSTRIES INCTechnology0.04%$44,310HYP-KVHI
187AOUTAMERICAN OUTDOOR BRANDS INCIndustrials0.04%$43,288HYP-AOUT
188NLOPNET LEASE OFFICE PROPERTIESReal Estate0.04%$42,864HYP-NLOP
189AMPGAMPLITECH GROUP INCTechnology0.04%$41,917HYP-AMPG
190HOFTHOOKER FURNISHINGS CORPConsumer Cyclical0.04%$37,805HYP-HOFT
191HURCHURCO COMPANIES INCIndustrials0.04%$35,313HYP-HURC
192WHFWHITEHORSE FINANCE INCFinancial Services0.03%$34,889HYP-WHF
193FIRYFIRY INCTechnology0.03%$32,273HYP-FIRY
194ACRACRES COMMERCIAL REALTY CORPReal Estate0.03%$31,625HYP-ACR
195GHIGREYSTONE HOUSING IMPACT INVESTORS LPFinancial Services0.03%$30,703HYP-GHI
196UFIUNIFI INCConsumer Cyclical0.03%$29,282HYP-UFI
197MEDMEDIFAST INCConsumer Cyclical0.03%$28,435HYP-MED
198STHOSTAR HOLDINGSReal Estate0.03%$28,335HYP-STHO
199LAKELAKELAND INDUSTRIES INCConsumer Cyclical0.03%$28,111HYP-LAKE
200SUNSSUNRISE REALTY TRUST INCReal Estate0.03%$27,961HYP-SUNS
201TRTTRIO-TECH INTERNATIONALTechnology0.03%$25,569HYP-TRT
202ULBIULTRALIFE CORPIndustrials0.02%$22,878HYP-ULBI
203BCICBCP INVESTMENT CORPFinancial Services0.02%$22,554HYP-BCIC
204BYFCBROADWAY FINANCIAL CORPFinancial Services0.02%$22,230HYP-BYFC
205PFXPHENIXFIN CORPFinancial Services0.02%$22,105HYP-PFX
206MHHMASTECH DIGITAL INCIndustrials0.02%$22,055HYP-MHH
207RLYBRALLYBIO CORPHealthcare0.02%$21,681HYP-RLYB
208RPTRITHM PROPERTY TRUST INCReal Estate0.02%$21,083HYP-RPT
209IORINCOME OPPORTUNITY REALTY INVESTORS INCFinancial Services0.02%$21,033HYP-IOR
210FRMMFORUM MARKETS INCHealthcare0.02%$20,585HYP-FRMM
211CSPICSP INCTechnology0.02%$20,485HYP-CSPI
212AUCATIF HOLDINGS LTDFinancial Services0.02%$20,410HYP-AUC
213CPHCCANTERBURY PARK HOLDING CORPConsumer Cyclical0.02%$20,385HYP-CPHC
214BDLFLANIGANS ENTERPRISES INCConsumer Cyclical0.02%$19,040HYP-BDL
215ACETADICET BIO INCHealthcare0.02%$18,915HYP-ACET
216GECCGREAT ELM CAPITAL CORPFinancial Services0.02%$18,491HYP-GECC
217AGPUAXE COMPUTE INCHealthcare0.02%$17,819HYP-AGPU
218DITAMCON DISTRIBUTING COConsumer Defensive0.02%$16,548HYP-DIT
219BGSFBGSF INCIndustrials0.02%$16,074HYP-BGSF
220IMAIMAGENEBIO INCHealthcare0.02%$15,127HYP-IMA
221BRIDBRIDGFORD FOODS CORPConsumer Defensive0.01%$14,679HYP-BRID
222TACTTRANSACT TECHNOLOGIES INCTechnology0.01%$13,383HYP-TACT
223XLOXILIO THERAPEUTICS INCHealthcare0.01%$13,233HYP-XLO
224APTALPHA PRO TECH LTDBasic Materials0.01%$13,133HYP-APT
225TILINSTIL BIO INCHealthcare0.01%$12,535HYP-TIL

DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.

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