ETF Foundry

Fund

Item	Value
Ticker (pseudo)	FREI
CUSIP	Not applicable (hypothetical model portfolio)
Listing exchange	Not listed (hypothetical)
Underlying model	Low Volatility factor (Industrials only)
Placeholder expense ratio	0.45%
Placeholder inception date	2019-08-08
Number of holdings (long leg)	119
Weighting	Cap-weighted
Rebalance frequency	Monthly
Holdings as of	July 2026

Holdings as of July 2026 (119 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)

#	Ticker	Company	Sector	Weight	Market Value	CUSIP
1	GTLS	CHART INDUSTRIES INC	Industrials	22.16%	$22,162,594	HYP-GTLS
2	AAC.U	ARES ACQUISITION CORP III	Industrials	8.35%	$8,346,071	HYP-AAC.U
3	ALF	CENTURION ACQUISITION CORP	Industrials	1.55%	$1,552,398	HYP-ALF
4	DMII	DRUGS MADE IN AMERICA ACQUISITION II CORP	Industrials	1.42%	$1,416,304	HYP-DMII
5	EVAC	EQV VENTURES ACQUISITION CORP II	Industrials	1.32%	$1,318,149	HYP-EVAC
6	GPAT	GP-ACT III ACQUISITION CORP	Industrials	1.31%	$1,313,738	HYP-GPAT
7	CRAN	CRANE HARBOR ACQUISITION CORP II	Industrials	1.05%	$1,051,034	HYP-CRAN
8	ANSC	AGRICULTURE & NATURAL SOLUTIONS ACQUISITION CORP	Industrials	1.05%	$1,048,387	HYP-ANSC
9	ZKP	LAFAYETTE DIGITAL ACQUISITION CORP I	Industrials	1.03%	$1,027,433	HYP-ZKP
10	KBON	KARBON CAPITAL PARTNERS CORP	Industrials	0.98%	$977,583	HYP-KBON
11	MBVI	M3-BRIGADE ACQUISITION VI CORP	Industrials	0.97%	$968,319	HYP-MBVI
12	MESH	MESHFLOW ACQUISITION CORP	Industrials	0.95%	$952,217	HYP-MESH
13	KFII	K&F GROWTH ACQUISITION CORP II	Industrials	0.92%	$916,043	HYP-KFII
14	NPAC	NEW PROVIDENCE ACQUISITION CORP III	Industrials	0.88%	$880,310	HYP-NPAC
15	MBAV	M3-BRIGADE ACQUISITION V CORP	Industrials	0.86%	$862,002	HYP-MBAV
16	WENN	WEN ACQUISITION CORP	Industrials	0.85%	$854,062	HYP-WENN
17	ALOV	ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE INC	Industrials	0.82%	$822,520	HYP-ALOV
18	GIW	GIGCAPITAL8 CORP	Industrials	0.81%	$811,712	HYP-GIW
19	SDHI	SIDDHI ACQUISITION CORP (CAYMAN ISLANDS)	Industrials	0.80%	$802,227	HYP-SDHI
20	ALUB	ALUSSA ENERGY ACQUISITION CORP II	Industrials	0.80%	$795,830	HYP-ALUB
21	TACH	TITAN ACQUISITION CORP	Industrials	0.79%	$792,963	HYP-TACH
22	IPCX	INFLECTION POINT ACQUISITION CORP III	Industrials	0.79%	$790,757	HYP-IPCX
23	KCHV	KOCHAV DEFENSE ACQUISITION CORP	Industrials	0.79%	$785,022	HYP-KCHV
24	SOUL	SOULPOWER ACQUISITION CORP	Industrials	0.78%	$777,302	HYP-SOUL
25	BDCI	BTC DEVELOPMENT CORP	Industrials	0.77%	$772,449	HYP-BDCI
26	OYSE	OYSTER ENTERPRISES II ACQUISITION CORP	Industrials	0.77%	$771,347	HYP-OYSE
27	TLNC	TALON CAPITAL CORP	Industrials	0.77%	$770,464	HYP-TLNC
28	ARTC	ART TECHNOLOGY ACQUISITION CORP	Industrials	0.77%	$766,053	HYP-ARTC
29	BIXI	BITCOIN INFRASTRUCTURE ACQUISITION CORP LTD	Industrials	0.76%	$762,965	HYP-BIXI
30	DSAC	DAEDALUS SPECIAL ACQUISITION CORP	Industrials	0.76%	$762,082	HYP-DSAC
31	SORN	SOREN ACQUISITION CORP	Industrials	0.76%	$761,421	HYP-SORN
32	CUB	LIONHEART HOLDINGS	Industrials	0.73%	$729,879	HYP-CUB
33	FERA	FIFTH ERA ACQUISITION CORP I	Industrials	0.72%	$719,953	HYP-FERA
34	PCAP	PROCAP ACQUISITION CORP	Industrials	0.72%	$719,732	HYP-PCAP
35	OBA	OXLEY BRIDGE ACQUISITION LTD	Industrials	0.72%	$715,762	HYP-OBA
36	SZZL	SIZZLE ACQUISITION CORP II	Industrials	0.72%	$715,762	HYP-SZZL
37	CRAQ	CAL REDWOOD ACQUISITION CORP	Industrials	0.72%	$715,100	HYP-CRAQ
38	DRDB	ROMAN DBDR ACQUISITION CORP II	Industrials	0.71%	$714,880	HYP-DRDB
39	KOYN	CSLM DIGITAL ASSET ACQUISITION CORP III LTD	Industrials	0.71%	$707,160	HYP-KOYN
40	ALDF	ALDEL FINANCIAL II INC	Industrials	0.70%	$704,954	HYP-ALDF
41	POLE	ANDRETTI ACQUISITION CORP II	Industrials	0.70%	$702,307	HYP-POLE
42	JACS	JACKSON ACQUISITION CO II	Industrials	0.70%	$698,337	HYP-JACS
43	AEAQ	ACTIVATE ENERGY ACQUISITION CORP	Industrials	0.69%	$691,278	HYP-AEAQ
44	LPAA	LAUNCH ONE ACQUISITION CORP	Industrials	0.69%	$689,955	HYP-LPAA
45	LEGO	LEGATO MERGER CORP IV	Industrials	0.69%	$687,529	HYP-LEGO
46	GRAF	GRAF GLOBAL CORP	Industrials	0.68%	$683,558	HYP-GRAF
47	LPBB	LAUNCH TWO ACQUISITION CORP	Industrials	0.68%	$681,132	HYP-LPBB
48	RAC	RITHM ACQUISITION CORP	Industrials	0.68%	$677,162	HYP-RAC
49	ITHA	ITHAX ACQUISITION CORP III	Industrials	0.68%	$676,500	HYP-ITHA
50	VHCP	VINE HILL CAPITAL INVESTMENT CORP II	Industrials	0.68%	$676,500	HYP-VHCP
51	JENA	JENA ACQUISITION CORP II	Industrials	0.66%	$664,148	HYP-JENA
52	HVMC	HIGHVIEW MERGER CORP	Industrials	0.66%	$661,060	HYP-HVMC
53	GSRF	GSR IV ACQUISITION CORP	Industrials	0.66%	$659,736	HYP-GSRF
54	IRHO	IRON HORSE ACQUISITION II CORP	Industrials	0.65%	$648,266	HYP-IRHO
55	HCAC	HALL CHADWICK ACQUISITION CORP	Industrials	0.65%	$647,384	HYP-HCAC
56	PACH	PIONEER ACQUISITION I CORP	Industrials	0.65%	$645,399	HYP-PACH
57	AACB	ARTIUS II ACQUISITION INC	Industrials	0.64%	$643,414	HYP-AACB
58	ADAC	AMERICAN DRIVE ACQUISITION CO	Industrials	0.64%	$635,473	HYP-ADAC
59	FGII	FG IMPERII ACQUISITION CORP	Industrials	0.64%	$635,253	HYP-FGII
60	LPCV	LAUNCHPAD CADENZA ACQUISITION CORP I	Industrials	0.63%	$633,488	HYP-LPCV
61	TVAI	THAYER VENTURES ACQUISITION CORP II	Industrials	0.62%	$620,254	HYP-TVAI
62	PAII	PYROPHYTE ACQUISITION CORP II	Industrials	0.62%	$615,180	HYP-PAII
63	XSLL	XSOLLA SPAC 1	Industrials	0.61%	$606,357	HYP-XSLL
64	MUZE	MUZERO ACQUISITION CORP	Industrials	0.60%	$600,181	HYP-MUZE
65	DNMX	DYNAMIX CORP III	Industrials	0.59%	$592,461	HYP-DNMX
66	OACC	OAKTREE ACQUISITION CORP III LIFE SCIENCES	Industrials	0.58%	$580,109	HYP-OACC
67	DMAA	DRUGS MADE IN AMERICA ACQUISITION CORP	Industrials	0.57%	$571,286	HYP-DMAA
68	NTWO	NEWBURY STREET II ACQUISITION CORP	Industrials	0.57%	$571,286	HYP-NTWO
69	PLMK	PLUM ACQUISITION CORP IV	Industrials	0.57%	$566,213	HYP-PLMK
70	VNME	VENDOME ACQUISITION CORP I	Industrials	0.56%	$560,919	HYP-VNME
71	SCII	SC II ACQUISITION CORP	Industrials	0.55%	$554,081	HYP-SCII
72	MKLY	MCKINLEY ACQUISITION CORP	Industrials	0.55%	$547,244	HYP-MKLY
73	COPL	COPLEY ACQUISITION CORP	Industrials	0.55%	$545,920	HYP-COPL
74	GTERA	GLOBA TERRA ACQUISITION CORP	Industrials	0.54%	$541,729	HYP-GTERA
75	SOCA	SOLARIUS CAPITAL ACQUISITION CORP	Industrials	0.53%	$531,803	HYP-SOCA
76	MACI	MELAR ACQUISITION CORP I	Industrials	0.52%	$519,892	HYP-MACI
77	TDAC	TRANSLATIONAL DEVELOPMENT ACQUISITION CORP	Industrials	0.52%	$517,466	HYP-TDAC
78	TWLV	TWELVE SEAS INVESTMENT CO III	Industrials	0.52%	$516,363	HYP-TWLV
79	LATA	GALATA ACQUISITION CORP II	Industrials	0.51%	$513,716	HYP-LATA
80	BLRK	BLUEROCK ACQUISITION CORP	Industrials	0.51%	$508,864	HYP-BLRK
81	SVCC	STELLAR V CAPITAL CORP (CAYMAN ISLANDS)	Industrials	0.51%	$505,776	HYP-SVCC
82	BIII	BLACK SPADE ACQUISITION III CO	Industrials	0.50%	$504,673	HYP-BIII
83	CRAC	CROWN RESERVE ACQUISITION CORP I	Industrials	0.50%	$499,820	HYP-CRAC
84	ONCH	1RT ACQUISITION CORP	Industrials	0.49%	$489,453	HYP-ONCH
85	GSHR	GESHER ACQUISITION CORP II	Industrials	0.47%	$472,910	HYP-GSHR
86	CCAQ	COLLECTIVE ACQUISITION CORP	Industrials	0.47%	$466,734	HYP-CCAQ
87	HAVA	HARVARD AVE ACQUISITION CORP	Industrials	0.46%	$461,882	HYP-HAVA
88	BEBE	TGE VALUE CREATIVE SOLUTIONS CORP	Industrials	0.44%	$440,265	HYP-BEBE
89	FIGX	FIGX CAPITAL ACQUISITION CORP	Industrials	0.44%	$438,280	HYP-FIGX
90	LKSP	LAKE SUPERIOR ACQUISITION CORP	Industrials	0.44%	$437,618	HYP-LKSP
91	CHEC	CHENGHE ACQUISITION III CO	Industrials	0.39%	$388,651	HYP-CHEC
92	TAVI	TAVIA ACQUISITION CORP	Industrials	0.37%	$374,755	HYP-TAVI
93	NMP	NMP ACQUISITION CORP	Industrials	0.36%	$362,623	HYP-NMP
94	EMIS	EMMIS ACQUISITION CORP	Industrials	0.35%	$354,242	HYP-EMIS
95	SPEG	SILVER PEGASUS ACQUISITION CORP	Industrials	0.35%	$348,507	HYP-SPEG
96	INAC	INDIGO ACQUISITION CORP	Industrials	0.33%	$334,610	HYP-INAC
97	YCY	AA MISSION ACQUISITION CORP II	Industrials	0.33%	$331,302	HYP-YCY
98	SCPQ	SOCIAL COMMERCE PARTNERS CORP	Industrials	0.30%	$301,745	HYP-SCPQ
99	IPEX	INFLECTION POINT ACQUISITION CORP V	Industrials	0.28%	$276,820	HYP-IPEX
100	PGAC	PANTAGES CAPITAL ACQUISITION CORP	Industrials	0.26%	$260,057	HYP-PGAC
101	QUMS	QUANTUMSPHERE ACQUISITION CORP	Industrials	0.26%	$258,071	HYP-QUMS
102	CHAR	CHARLTON ARIA ACQUISITION CORP	Industrials	0.26%	$255,204	HYP-CHAR
103	QSEA	QUARTZSEA ACQUISITION CORP	Industrials	0.24%	$235,573	HYP-QSEA
104	CHPG	CHAMPIONSGATE ACQUISITION CORP	Industrials	0.23%	$229,617	HYP-CHPG
105	NOEM	CO2 ENERGY TRANSITION CORP	Industrials	0.22%	$223,662	HYP-NOEM
106	LCCC	LAKESHORE ACQUISITION III CORP	Industrials	0.21%	$205,134	HYP-LCCC
107	SIMA	SIM ACQUISITION CORP I	Industrials	0.20%	$198,296	HYP-SIMA
108	MMTX	MILUNA ACQUISITION CORP	Industrials	0.20%	$196,972	HYP-MMTX
109	ORIQ	ORIGIN INVESTMENT CORP I	Industrials	0.20%	$196,531	HYP-ORIQ
110	ALIS	CALISA ACQUISITION CORP	Industrials	0.19%	$188,811	HYP-ALIS
111	FVN	FUTURE VISION II ACQUISITION CORP	Industrials	0.18%	$181,973	HYP-FVN
112	WSTN	WESTIN ACQUISITION CORP	Industrials	0.18%	$179,768	HYP-WSTN
113	SSEA	STARRY SEA ACQUISITION CORP	Industrials	0.17%	$173,150	HYP-SSEA
114	WTG	WINTERGREEN ACQUISITION CORP	Industrials	0.17%	$168,298	HYP-WTG
115	NBRG	NEWBRIDGE ACQUISITION LTD	Industrials	0.17%	$166,092	HYP-NBRG
116	BPAC	BLUEPORT ACQUISITION LTD	Industrials	0.17%	$165,210	HYP-BPAC
117	CAPN	CAYSON ACQUISITION CORP	Industrials	0.13%	$129,477	HYP-CAPN
118	UYSC	UY SCUTI ACQUISITION CORP	Industrials	0.12%	$124,183	HYP-UYSC
119	IBAC	IB ACQUISITION CORP	Industrials	0.12%	$119,110	HYP-IBAC

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

Foundry Industrials Low Volatility Factor ETF

Fund

Holdings as of July 2026 (119 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)