ETF Foundry

Fund

Item	Value
Ticker (pseudo)	FSII
CUSIP	Not applicable (hypothetical model portfolio)
Listing exchange	Not listed (hypothetical)
Underlying model	Small Size factor (Industrials only)
Placeholder expense ratio	0.45%
Placeholder inception date	2019-10-20
Number of holdings (long leg)	142
Weighting	Cap-weighted
Rebalance frequency	Monthly
Holdings as of	July 2026

Holdings as of July 2026 (142 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)

#	Ticker	Company	Sector	Weight	Market Value	CUSIP
1	FC	FRANKLIN COVEY CO	Industrials	1.11%	$1,113,494	HYP-FC
2	UP	WHEELS UP EXPERIENCE INC	Industrials	1.11%	$1,113,494	HYP-UP
3	BIII	BLACK SPADE ACQUISITION III CO	Industrials	1.11%	$1,112,521	HYP-BIII
4	IRAB	IRIS ACQUISITION CORP II	Industrials	1.11%	$1,108,145	HYP-IRAB
5	DGAC	DGAC	Industrials	1.11%	$1,105,714	HYP-DGAC
6	DGAC.U	DISCIPLINED GROWTH ACQUISITION CORP	Industrials	1.11%	$1,105,714	HYP-DGAC.U
7	CRAC	CROWN RESERVE ACQUISITION CORP I	Industrials	1.10%	$1,101,824	HYP-CRAC
8	IPVVU	INTERPRIVATE INVESTMENT PARTNERS V INC	Industrials	1.08%	$1,083,347	HYP-IPVVU
9	ONCH	1RT ACQUISITION CORP	Industrials	1.08%	$1,078,971	HYP-ONCH
10	PTACU	PATRIOT ACQUISITION CORP	Industrials	1.08%	$1,076,539	HYP-PTACU
11	IDACU	IRON DOME ACQUISITION I CORP	Industrials	1.07%	$1,072,649	HYP-IDACU
12	PTAC	PATRIOT ACQUISITION CORP	Industrials	1.06%	$1,062,925	HYP-PTAC
13	MIACU	MERIDIAN3 INDUSTRIALS ACQUISITION CORP	Industrials	1.06%	$1,061,466	HYP-MIACU
14	IDAC	IRON DOME ACQUISITION I CORP	Industrials	1.05%	$1,054,658	HYP-IDAC
15	GSHR	GESHER ACQUISITION CORP II	Industrials	1.04%	$1,042,502	HYP-GSHR
16	SMHI	SEACOR MARINE HOLDINGS INC	Industrials	1.04%	$1,041,044	HYP-SMHI
17	EGHA	EGH ACQUISITION CORP	Industrials	1.03%	$1,033,750	HYP-EGHA
18	EVI	EVI INDUSTRIES INC	Industrials	1.03%	$1,033,750	HYP-EVI
19	CCAQ	COLLECTIVE ACQUISITION CORP	Industrials	1.03%	$1,028,888	HYP-CCAQ
20	PALO	PALOMA ACQUISITION CORP I	Industrials	1.02%	$1,024,998	HYP-PALO
21	HAVA	HARVARD AVE ACQUISITION CORP	Industrials	1.02%	$1,018,190	HYP-HAVA
22	ALTG	ALTA EQUIPMENT GROUP INC	Industrials	1.01%	$1,009,438	HYP-ALTG
23	WLII	WILLOW LANE ACQUISITION CORP II	Industrials	1.01%	$1,005,062	HYP-WLII
24	AIRO	AIRO GROUP HOLDINGS INC	Industrials	1.00%	$998,254	HYP-AIRO
25	OHAC	OCEANHAWK ACQUISITION CORP	Industrials	0.99%	$989,016	HYP-OHAC
26	MRCOU	MERCATOR ACQUISITION CORP	Industrials	0.98%	$975,401	HYP-MRCOU
27	LTGRU	LONG TABLE GROWTH CORP	Industrials	0.97%	$974,429	HYP-LTGRU
28	FORR	FORRESTER RESEARCH INC	Industrials	0.97%	$973,942	HYP-FORR
29	BEBE	TGE VALUE CREATIVE SOLUTIONS CORP	Industrials	0.97%	$970,539	HYP-BEBE
30	KTWO	K2 CAPITAL ACQUISITION CORP	Industrials	0.97%	$967,621	HYP-KTWO
31	FIGX	FIGX CAPITAL ACQUISITION CORP	Industrials	0.97%	$966,162	HYP-FIGX
32	TVIV	TEXAS VENTURES ACQUISITION IV CORP	Industrials	0.97%	$965,676	HYP-TVIV
33	LKSP	LAKE SUPERIOR ACQUISITION CORP	Industrials	0.96%	$964,704	HYP-LKSP
34	ETSS	ENERGY TRANSITION SPECIAL OPPORTUNITIES	Industrials	0.96%	$960,814	HYP-ETSS
35	PAL	PROFICIENT AUTO LOGISTICS INC	Industrials	0.96%	$959,841	HYP-PAL
36	AIIA	AI INFRASTRUCTURE ACQUISITION CORP	Industrials	0.96%	$955,951	HYP-AIIA
37	RCMT	RCM TECHNOLOGIES INC	Industrials	0.95%	$954,493	HYP-RCMT
38	BIDWU	TRIBECA STRATEGIC ACQUISITION CORP	Industrials	0.94%	$935,529	HYP-BIDWU
39	LFAC	LEAPFROG ACQUISITION CORP	Industrials	0.93%	$934,070	HYP-LFAC
40	AESPU	AEON ACQUISITION I CORP	Industrials	0.89%	$890,795	HYP-AESPU
41	EAF	GRAFTECH INTERNATIONAL LTD	Industrials	0.88%	$877,666	HYP-EAF
42	PAAC	PROEM ACQUISITION CORP I	Industrials	0.86%	$858,217	HYP-PAAC
43	CHEC	CHENGHE ACQUISITION III CO	Industrials	0.86%	$856,758	HYP-CHEC
44	BREZ	BREEZE ACQUISITION CORP II	Industrials	0.86%	$855,786	HYP-BREZ
45	TAYD	TAYLOR DEVICES INC	Industrials	0.86%	$855,786	HYP-TAYD
46	APMCU	AMPERCAP ACQUISITION CO	Industrials	0.85%	$850,437	HYP-APMCU
47	NUTR	NUSATRIP INC	Industrials	0.85%	$848,006	HYP-NUTR
48	AOUT	AMERICAN OUTDOOR BRANDS INC	Industrials	0.84%	$844,602	HYP-AOUT
49	PONO	PONO CAPITAL FOUR INC	Industrials	0.84%	$841,198	HYP-PONO
50	ESP	ESPEY MFG & ELECTRONICS CORP	Industrials	0.83%	$834,877	HYP-ESP
51	RANG	RANGE CAPITAL ACQUISITION CORP	Industrials	0.83%	$833,418	HYP-RANG
52	TAVI	TAVIA ACQUISITION CORP	Industrials	0.83%	$826,125	HYP-TAVI
53	HQI	HIREQUEST INC	Industrials	0.82%	$818,345	HYP-HQI
54	CTAA	CLEARTHINK 1 ACQUISITION CORP	Industrials	0.80%	$804,244	HYP-CTAA
55	NMP	NMP ACQUISITION CORP	Industrials	0.80%	$799,382	HYP-NMP
56	EMIS	EMMIS ACQUISITION CORP	Industrials	0.78%	$780,904	HYP-EMIS
57	SAGU	SHREYA ACQUISITION GROUP	Industrials	0.78%	$779,446	HYP-SAGU
58	QRED	QUASAREDGE ACQUISITION CORP	Industrials	0.78%	$778,959	HYP-QRED
59	GLED	GALAXYEDGE ACQUISITION CORP	Industrials	0.78%	$775,556	HYP-GLED
60	WENC	WEST ENCLAVE MERGER CORP	Industrials	0.78%	$775,069	HYP-WENC
61	LAFA	LAFAYETTE ACQUISITION CORP	Industrials	0.77%	$770,207	HYP-LAFA
62	SPEG	SILVER PEGASUS ACQUISITION CORP	Industrials	0.77%	$768,262	HYP-SPEG
63	FMAC	FUTURE MONEY ACQUISITION CORP	Industrials	0.77%	$765,831	HYP-FMAC
64	WPAC	WHITE PEARL ACQUISITION CORP	Industrials	0.76%	$762,427	HYP-WPAC
65	AP	AMPCO PITTSBURGH CORP	Industrials	0.76%	$757,078	HYP-AP
66	EML	EASTERN CO	Industrials	0.75%	$748,812	HYP-EML
67	CEPS	CANTOR EQUITY PARTNERS VI INC	Industrials	0.74%	$740,060	HYP-CEPS
68	INAC	INDIGO ACQUISITION CORP	Industrials	0.74%	$737,629	HYP-INAC
69	YCY	AA MISSION ACQUISITION CORP II	Industrials	0.73%	$730,335	HYP-YCY
70	APUR	APERTURE AC	Industrials	0.71%	$712,344	HYP-APUR
71	TRAD	APEX TECH ACQUISITION INC	Industrials	0.71%	$707,482	HYP-TRAD
72	MYX	MAYWOOD ACQUISITION CORP 2	Industrials	0.70%	$700,674	HYP-MYX
73	RAIL	FREIGHTCAR AMERICA INC	Industrials	0.70%	$699,702	HYP-RAIL
74	RFIL	R F INDUSTRIES LTD	Industrials	0.69%	$693,381	HYP-RFIL
75	HURC	HURCO COMPANIES INC	Industrials	0.69%	$689,005	HYP-HURC
76	PLUN	PLUTONIAN ACQUISITION CORP II	Industrials	0.68%	$684,142	HYP-PLUN
77	SIF	SIFCO INDUSTRIES INC	Industrials	0.68%	$684,142	HYP-SIF
78	OCAC.U	OCEAN CAPITAL ACQUISITION CORP	Industrials	0.68%	$680,252	HYP-OCAC.U
79	BHAV	BHAV ACQUISITION CORP	Industrials	0.68%	$678,794	HYP-BHAV
80	XFLH	XFLH CAPITAL CORP	Industrials	0.67%	$673,931	HYP-XFLH
81	RFAM	RF ACQUISITION CORP III	Industrials	0.67%	$670,527	HYP-RFAM
82	UAC	UNITED ACQUISITION CORP I	Industrials	0.67%	$669,069	HYP-UAC
83	FTHA	FOREFRONT TECH HOLDINGS ACQUISITION CORP	Industrials	0.67%	$666,637	HYP-FTHA
84	OTAI	STARLINK AI ACQUISITION CORP	Industrials	0.67%	$666,637	HYP-OTAI
85	SCPQ	SOCIAL COMMERCE PARTNERS CORP	Industrials	0.67%	$665,179	HYP-SCPQ
86	VECA	VERNAL CAPITAL ACQUISITION CORP	Industrials	0.64%	$640,380	HYP-VECA
87	ALPXU	ALPEX ACQUISITION CORP	Industrials	0.63%	$632,114	HYP-ALPXU
88	ALPX	ALPEX ACQUISITION CORP	Industrials	0.62%	$617,527	HYP-ALPX
89	IPEX	INFLECTION POINT ACQUISITION CORP V	Industrials	0.61%	$610,233	HYP-IPEX
90	VATE	INNOVATE CORP	Industrials	0.60%	$599,050	HYP-VATE
91	PCSC	PERCEPTIVE CAPITAL SOLUTIONS CORP	Industrials	0.60%	$596,619	HYP-PCSC
92	BRKH	BURTECH ACQUISITION CORP II	Industrials	0.58%	$577,169	HYP-BRKH
93	PGAC	PANTAGES CAPITAL ACQUISITION CORP	Industrials	0.57%	$573,279	HYP-PGAC
94	QUMS	QUANTUMSPHERE ACQUISITION CORP	Industrials	0.57%	$568,903	HYP-QUMS
95	CHAR	CHARLTON ARIA ACQUISITION CORP	Industrials	0.56%	$562,582	HYP-CHAR
96	CODA	CODA OCTOPUS GROUP INC	Industrials	0.55%	$549,453	HYP-CODA
97	FWACU	FUTUREWAVE ACQUISITION CORP	Industrials	0.55%	$547,022	HYP-FWACU
98	FXACU	FORTUNEX ACQUISITION CORP	Industrials	0.54%	$536,325	HYP-FXACU
99	FXAC	FORTUNEX ACQUISITION CORP	Industrials	0.53%	$533,893	HYP-FXAC
100	QSEA	QUARTZSEA ACQUISITION CORP	Industrials	0.52%	$519,306	HYP-QSEA
101	SPKL	SPARK I ACQUISITION CORP	Industrials	0.51%	$510,068	HYP-SPKL
102	CHPG	CHAMPIONSGATE ACQUISITION CORP	Industrials	0.51%	$506,178	HYP-CHPG
103	NOEM	CO2 ENERGY TRANSITION CORP	Industrials	0.49%	$493,049	HYP-NOEM
104	RACC	RESEARCH ALLIANCE CORP III	Industrials	0.49%	$492,563	HYP-RACC
105	AMAN	AMANAT ACQUISITION CORP	Industrials	0.47%	$474,086	HYP-AMAN
106	RACD	RESEARCH ALLIANCE CORP IV	Industrials	0.46%	$459,985	HYP-RACD
107	CHRN	CHRONOSCALE CORP	Industrials	0.46%	$458,040	HYP-CHRN
108	LCCC	LAKESHORE ACQUISITION III CORP	Industrials	0.45%	$452,205	HYP-LCCC
109	ULBI	ULTRALIFE CORP	Industrials	0.45%	$446,370	HYP-ULBI
110	MCAH	MOUNTAIN CREST ACQUISITION 6 CORP	Industrials	0.44%	$437,131	HYP-MCAH
111	SIMA	SIM ACQUISITION CORP I	Industrials	0.44%	$437,131	HYP-SIMA
112	MMTX	MILUNA ACQUISITION CORP	Industrials	0.43%	$434,214	HYP-MMTX
113	ORIQ	ORIGIN INVESTMENT CORP I	Industrials	0.43%	$433,241	HYP-ORIQ
114	BSAA	BEST SPAC I ACQUISITION CORP	Industrials	0.43%	$432,269	HYP-BSAA
115	OPXS	OPTEX SYSTEMS HOLDINGS INC	Industrials	0.43%	$431,783	HYP-OPXS
116	MHH	MASTECH DIGITAL INC	Industrials	0.43%	$430,324	HYP-MHH
117	JATT	JATT II ACQUISITION CORP	Industrials	0.43%	$429,351	HYP-JATT
118	ALIS	CALISA ACQUISITION CORP	Industrials	0.42%	$416,223	HYP-ALIS
119	FGMC	FG MERGER II CORP	Industrials	0.42%	$415,737	HYP-FGMC
120	CPBI	CENTRAL PLAINS BANCSHARES INC	Industrials	0.41%	$410,874	HYP-CPBI
121	APAC	STONEBRIDGE ACQUISITION II CORP	Industrials	0.40%	$404,553	HYP-APAC
122	FVN	FUTURE VISION II ACQUISITION CORP	Industrials	0.40%	$401,149	HYP-FVN
123	AUC	ATIF HOLDINGS LTD	Financial Services	0.40%	$398,232	HYP-AUC
124	WSTN	WESTIN ACQUISITION CORP	Industrials	0.40%	$396,287	HYP-WSTN
125	DLHC	DLH HOLDINGS CORP	Industrials	0.39%	$387,535	HYP-DLHC
126	SSEA	STARRY SEA ACQUISITION CORP	Industrials	0.38%	$381,700	HYP-SSEA
127	WTG	WINTERGREEN ACQUISITION CORP	Industrials	0.37%	$371,002	HYP-WTG
128	NBRG	NEWBRIDGE ACQUISITION LTD	Industrials	0.37%	$366,140	HYP-NBRG
129	TISI	TEAM INC	Industrials	0.36%	$364,681	HYP-TISI
130	BPAC	BLUEPORT ACQUISITION LTD	Industrials	0.36%	$364,195	HYP-BPAC
131	AIRT	AIR T INC	Industrials	0.35%	$354,470	HYP-AIRT
132	KVAC	KEEN VISION ACQUISITION CORP	Industrials	0.33%	$330,644	HYP-KVAC
133	BGSF	BGSF INC	Industrials	0.31%	$313,626	HYP-BGSF
134	EURK	EUREKA ACQUISITION CORP	Industrials	0.29%	$293,204	HYP-EURK
135	PECE	PEACE ACQUISITION CORP	Industrials	0.29%	$288,828	HYP-PECE
136	CAPN	CAYSON ACQUISITION CORP	Industrials	0.29%	$285,424	HYP-CAPN
137	UYSC	UY SCUTI ACQUISITION CORP	Industrials	0.27%	$273,754	HYP-UYSC
138	FSHP	FLAG SHIP ACQUISITION CORP	Industrials	0.27%	$273,268	HYP-FSHP
139	LNZA	LANZATECH GLOBAL INC	Industrials	0.27%	$273,268	HYP-LNZA
140	IBAC	IB ACQUISITION CORP	Industrials	0.26%	$262,571	HYP-IBAC
141	RIBB	RIBBON ACQUISITION CORP	Industrials	0.26%	$262,571	HYP-RIBB
142	BKHA	BLACK HAWK ACQUISITION CORP	Industrials	0.24%	$244,580	HYP-BKHA

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

Foundry Industrials Small Size Factor ETF

Fund

Holdings as of July 2026 (142 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)