ETF Foundry

Fund

Item	Value
Ticker (pseudo)	FVOI
CUSIP	Not applicable (hypothetical model portfolio)
Listing exchange	Not listed (hypothetical)
Underlying model	VolSD factor (Industrials only)
Placeholder expense ratio	0.45%
Placeholder inception date	2021-01-13
Number of holdings (long leg)	125
Weighting	Cap-weighted
Rebalance frequency	Monthly
Holdings as of	July 2026

Holdings as of July 2026 (125 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)

#	Ticker	Company	Sector	Weight	Market Value	CUSIP
1	AAC.U	ARES ACQUISITION CORP III	Industrials	10.74%	$10,738,297	HYP-AAC.U
2	AACO	ABONY ACQUISITION CORP I	Industrials	7.53%	$7,531,395	HYP-AACO
3	EVAC	EQV VENTURES ACQUISITION CORP II	Industrials	1.70%	$1,695,969	HYP-EVAC
4	TRC	TEJON RANCH CO	Industrials	1.39%	$1,393,158	HYP-TRC
5	KRSP	RICE ACQUISITION CORP 3	Industrials	1.38%	$1,376,130	HYP-KRSP
6	ANSC	AGRICULTURE & NATURAL SOLUTIONS ACQUISITION CORP	Industrials	1.35%	$1,348,885	HYP-ANSC
7	KBON	KARBON CAPITAL PARTNERS CORP	Industrials	1.26%	$1,257,787	HYP-KBON
8	MESH	MESHFLOW ACQUISITION CORP	Industrials	1.23%	$1,225,150	HYP-MESH
9	CLBR	COLOMBIER ACQUISITION CORP III	Industrials	1.17%	$1,169,810	HYP-CLBR
10	NPAC	NEW PROVIDENCE ACQUISITION CORP III	Industrials	1.13%	$1,132,632	HYP-NPAC
11	RDAG	REPUBLIC DIGITAL ACQUISITION CO	Industrials	1.10%	$1,101,415	HYP-RDAG
12	WENN	WEN ACQUISITION CORP	Industrials	1.10%	$1,098,861	HYP-WENN
13	HACQ	HCM IV ACQUISITION CORP	Industrials	1.07%	$1,070,197	HYP-HACQ
14	ALUB	ALUSSA ENERGY ACQUISITION CORP II	Industrials	1.02%	$1,023,938	HYP-ALUB
15	CCII	COHEN CIRCLE ACQUISITION CORP II	Industrials	1.02%	$1,021,952	HYP-CCII
16	IPCX	INFLECTION POINT ACQUISITION CORP III	Industrials	1.02%	$1,017,411	HYP-IPCX
17	HCIC	HENNESSY CAPITAL INVESTMENT CORP VIII	Industrials	1.00%	$1,004,924	HYP-HCIC
18	SOUL	SOULPOWER ACQUISITION CORP	Industrials	1.00%	$1,000,099	HYP-SOUL
19	SBXE	SILVERBOX CORP V	Industrials	0.99%	$993,856	HYP-SBXE
20	OYSE	OYSTER ENTERPRISES II ACQUISITION CORP	Industrials	0.99%	$992,437	HYP-OYSE
21	TLNC	TALON CAPITAL CORP	Industrials	0.99%	$991,302	HYP-TLNC
22	ARTC	ART TECHNOLOGY ACQUISITION CORP	Industrials	0.99%	$985,626	HYP-ARTC
23	BIXI	BITCOIN INFRASTRUCTURE ACQUISITION CORP LTD	Industrials	0.98%	$981,653	HYP-BIXI
24	DSAC	DAEDALUS SPECIAL ACQUISITION CORP	Industrials	0.98%	$980,517	HYP-DSAC
25	SORN	SOREN ACQUISITION CORP	Industrials	0.98%	$979,666	HYP-SORN
26	AACI	ARMADA ACQUISITION CORP III	Industrials	0.96%	$962,922	HYP-AACI
27	BLUW	BLUE WATER ACQUISITION CORP III	Industrials	0.95%	$946,178	HYP-BLUW
28	CRAQ	CAL REDWOOD ACQUISITION CORP	Industrials	0.92%	$920,069	HYP-CRAQ
29	PMTR	PERIMETER ACQUISITION CORP I	Industrials	0.91%	$912,406	HYP-PMTR
30	ALDF	ALDEL FINANCIAL II INC	Industrials	0.91%	$907,014	HYP-ALDF
31	POLE	ANDRETTI ACQUISITION CORP II	Industrials	0.90%	$903,608	HYP-POLE
32	VACI	VIKING ACQUISITION CORP I	Industrials	0.90%	$901,622	HYP-VACI
33	RNGT	RANGE CAPITAL ACQUISITION CORP II	Industrials	0.90%	$899,635	HYP-RNGT
34	CMII	COLUMBUS CIRCLE CAPITAL CORP II	Industrials	0.89%	$894,527	HYP-CMII
35	AEAQ	ACTIVATE ENERGY ACQUISITION CORP	Industrials	0.89%	$889,419	HYP-AEAQ
36	LPAA	LAUNCH ONE ACQUISITION CORP	Industrials	0.89%	$887,716	HYP-LPAA
37	PAMT	PAMT CORP	Industrials	0.88%	$882,040	HYP-PAMT
38	GRAF	GRAF GLOBAL CORP	Industrials	0.88%	$879,486	HYP-GRAF
39	CIX	COMPX INTERNATIONAL INC	Industrials	0.88%	$877,783	HYP-CIX
40	TMTS	SPARTACUS ACQUISITION CORP II	Industrials	0.88%	$875,513	HYP-TMTS
41	LWAC	LIGHTWAVE ACQUISITION CORP	Industrials	0.87%	$874,945	HYP-LWAC
42	ITHA	ITHAX ACQUISITION CORP III	Industrials	0.87%	$870,404	HYP-ITHA
43	VHCP	VINE HILL CAPITAL INVESTMENT CORP II	Industrials	0.87%	$870,404	HYP-VHCP
44	OFLX	OMEGA FLEX INC	Industrials	0.86%	$855,931	HYP-OFLX
45	OTGA	OTG ACQUISITION CORP I	Industrials	0.85%	$852,241	HYP-OTGA
46	SVAQ	SILICON VALLEY ACQUISITION CORP	Industrials	0.84%	$836,349	HYP-SVAQ
47	IRHO	IRON HORSE ACQUISITION II CORP	Industrials	0.83%	$834,078	HYP-IRHO
48	PACH	PIONEER ACQUISITION I CORP	Industrials	0.83%	$830,389	HYP-PACH
49	AACB	ARTIUS II ACQUISITION INC	Industrials	0.83%	$827,835	HYP-AACB
50	NL	NL INDUSTRIES INC	Industrials	0.82%	$818,186	HYP-NL
51	ADAC	AMERICAN DRIVE ACQUISITION CO	Industrials	0.82%	$817,618	HYP-ADAC
52	FGII	FG IMPERII ACQUISITION CORP	Industrials	0.82%	$817,334	HYP-FGII
53	LPCV	LAUNCHPAD CADENZA ACQUISITION CORP I	Industrials	0.82%	$815,064	HYP-LPCV
54	SBXD	SILVERBOX CORP IV	Industrials	0.78%	$780,157	HYP-SBXD
55	CEPO	CANTOR EQUITY PARTNERS I INC	Industrials	0.77%	$769,373	HYP-CEPO
56	TG	TREDEGAR CORP	Industrials	0.75%	$747,237	HYP-TG
57	DMAA	DRUGS MADE IN AMERICA ACQUISITION CORP	Industrials	0.74%	$735,033	HYP-DMAA
58	NTWO	NEWBURY STREET II ACQUISITION CORP	Industrials	0.74%	$735,033	HYP-NTWO
59	CAQ	CAMBRIDGE ACQUISITION CORP	Industrials	0.71%	$707,221	HYP-CAQ
60	MKLY	MCKINLEY ACQUISITION CORP	Industrials	0.70%	$704,099	HYP-MKLY
61	COPL	COPLEY ACQUISITION CORP	Industrials	0.70%	$702,397	HYP-COPL
62	IGAC	INVEST GREEN ACQUISITION CORP	Industrials	0.68%	$680,828	HYP-IGAC
63	DAAQ	DIGITAL ASSET ACQUISITION CORP	Industrials	0.68%	$678,558	HYP-DAAQ
64	MACI	MELAR ACQUISITION CORP I	Industrials	0.67%	$668,909	HYP-MACI
65	GENC	GENCOR INDUSTRIES INC	Industrials	0.67%	$668,057	HYP-GENC
66	TWLV	TWELVE SEAS INVESTMENT CO III	Industrials	0.66%	$664,368	HYP-TWLV
67	HLXC	HELIX ACQUISITION CORP III	Industrials	0.66%	$662,381	HYP-HLXC
68	BLRK	BLUEROCK ACQUISITION CORP	Industrials	0.65%	$654,719	HYP-BLRK
69	SVCC	STELLAR V CAPITAL CORP (CAYMAN ISLANDS)	Industrials	0.65%	$650,746	HYP-SVCC
70	IRAB	IRIS ACQUISITION CORP II	Industrials	0.65%	$646,773	HYP-IRAB
71	GSHR	GESHER ACQUISITION CORP II	Industrials	0.61%	$608,460	HYP-GSHR
72	EGHA	EGH ACQUISITION CORP	Industrials	0.60%	$603,352	HYP-EGHA
73	CCAQ	COLLECTIVE ACQUISITION CORP	Industrials	0.60%	$600,514	HYP-CCAQ
74	HAVA	HARVARD AVE ACQUISITION CORP	Industrials	0.59%	$594,270	HYP-HAVA
75	WLII	WILLOW LANE ACQUISITION CORP II	Industrials	0.59%	$586,608	HYP-WLII
76	BEBE	TGE VALUE CREATIVE SOLUTIONS CORP	Industrials	0.57%	$566,458	HYP-BEBE
77	FIGX	FIGX CAPITAL ACQUISITION CORP	Industrials	0.56%	$563,904	HYP-FIGX
78	RCMT	RCM TECHNOLOGIES INC	Industrials	0.56%	$557,093	HYP-RCMT
79	LFAC	LEAPFROG ACQUISITION CORP	Industrials	0.55%	$545,173	HYP-LFAC
80	PAAC	PROEM ACQUISITION CORP I	Industrials	0.50%	$500,901	HYP-PAAC
81	CHEC	CHENGHE ACQUISITION III CO	Industrials	0.50%	$500,050	HYP-CHEC
82	AOUT	AMERICAN OUTDOOR BRANDS INC	Industrials	0.49%	$492,955	HYP-AOUT
83	RANG	RANGE CAPITAL ACQUISITION CORP	Industrials	0.49%	$486,427	HYP-RANG
84	TAVI	TAVIA ACQUISITION CORP	Industrials	0.48%	$482,170	HYP-TAVI
85	HQI	HIREQUEST INC	Industrials	0.48%	$477,630	HYP-HQI
86	CTAA	CLEARTHINK 1 ACQUISITION CORP	Industrials	0.47%	$469,400	HYP-CTAA
87	NMP	NMP ACQUISITION CORP	Industrials	0.47%	$466,562	HYP-NMP
88	LAFA	LAFAYETTE ACQUISITION CORP	Industrials	0.45%	$449,534	HYP-LAFA
89	SPEG	SILVER PEGASUS ACQUISITION CORP	Industrials	0.45%	$448,399	HYP-SPEG
90	WPAC	WHITE PEARL ACQUISITION CORP	Industrials	0.44%	$444,993	HYP-WPAC
91	EML	EASTERN CO	Industrials	0.44%	$437,047	HYP-EML
92	INAC	INDIGO ACQUISITION CORP	Industrials	0.43%	$430,519	HYP-INAC
93	HURC	HURCO COMPANIES INC	Industrials	0.40%	$402,140	HYP-HURC
94	RFAM	RF ACQUISITION CORP III	Industrials	0.39%	$391,356	HYP-RFAM
95	SCPQ	SOCIAL COMMERCE PARTNERS CORP	Industrials	0.39%	$388,234	HYP-SCPQ
96	IPEX	INFLECTION POINT ACQUISITION CORP V	Industrials	0.36%	$356,165	HYP-IPEX
97	PGAC	PANTAGES CAPITAL ACQUISITION CORP	Industrials	0.33%	$334,596	HYP-PGAC
98	CHAR	CHARLTON ARIA ACQUISITION CORP	Industrials	0.33%	$328,353	HYP-CHAR
99	QSEA	QUARTZSEA ACQUISITION CORP	Industrials	0.30%	$303,095	HYP-QSEA
100	SPKL	SPARK I ACQUISITION CORP	Industrials	0.30%	$297,703	HYP-SPKL
101	CHPG	CHAMPIONSGATE ACQUISITION CORP	Industrials	0.30%	$295,432	HYP-CHPG
102	LCCC	LAKESHORE ACQUISITION III CORP	Industrials	0.26%	$263,931	HYP-LCCC
103	ULBI	ULTRALIFE CORP	Industrials	0.26%	$260,525	HYP-ULBI
104	MMTX	MILUNA ACQUISITION CORP	Industrials	0.25%	$253,430	HYP-MMTX
105	BSAA	BEST SPAC I ACQUISITION CORP	Industrials	0.25%	$252,295	HYP-BSAA
106	OPXS	OPTEX SYSTEMS HOLDINGS INC	Industrials	0.25%	$252,011	HYP-OPXS
107	MHH	MASTECH DIGITAL INC	Industrials	0.25%	$251,160	HYP-MHH
108	ALIS	CALISA ACQUISITION CORP	Industrials	0.24%	$242,930	HYP-ALIS
109	FGMC	FG MERGER II CORP	Industrials	0.24%	$242,646	HYP-FGMC
110	CPBI	CENTRAL PLAINS BANCSHARES INC	Industrials	0.24%	$239,808	HYP-CPBI
111	FVN	FUTURE VISION II ACQUISITION CORP	Industrials	0.23%	$234,132	HYP-FVN
112	AUC	ATIF HOLDINGS LTD	Financial Services	0.23%	$232,429	HYP-AUC
113	WSTN	WESTIN ACQUISITION CORP	Industrials	0.23%	$231,294	HYP-WSTN
114	SSEA	STARRY SEA ACQUISITION CORP	Industrials	0.22%	$222,780	HYP-SSEA
115	WTG	WINTERGREEN ACQUISITION CORP	Industrials	0.22%	$216,537	HYP-WTG
116	TISI	TEAM INC	Industrials	0.21%	$212,847	HYP-TISI
117	BPAC	BLUEPORT ACQUISITION LTD	Industrials	0.21%	$212,564	HYP-BPAC
118	AIRT	AIR T INC	Industrials	0.21%	$206,888	HYP-AIRT
119	KVAC	KEEN VISION ACQUISITION CORP	Industrials	0.19%	$192,982	HYP-KVAC
120	EURK	EUREKA ACQUISITION CORP	Industrials	0.17%	$171,129	HYP-EURK
121	UYSC	UY SCUTI ACQUISITION CORP	Industrials	0.16%	$159,778	HYP-UYSC
122	FSHP	FLAG SHIP ACQUISITION CORP	Industrials	0.16%	$159,494	HYP-FSHP
123	IBAC	IB ACQUISITION CORP	Industrials	0.15%	$153,250	HYP-IBAC
124	RIBB	RIBBON ACQUISITION CORP	Industrials	0.15%	$153,250	HYP-RIBB
125	BKHA	BLACK HAWK ACQUISITION CORP	Industrials	0.14%	$142,750	HYP-BKHA

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

Foundry Industrials VolSD Factor ETF

Fund

Holdings as of July 2026 (125 positions, cap-weighted; market values illustrative on a hypothetical $100,000,000 portfolio)