SUPP

SUPP seeks to create long-term value by providing exposure to companies that transform their supply chains by reshoring manufacturing jobs, automating or innovating business operations, and improving transportation. The fund holds a narrow portfolio of 20-60 equities generally selected from a broad market cap-weighted index of large-, mid-, and small-cap companies that span all sectors of the US market. In building the portfolio, the fund adviser uses fundamental research and proprietary analysis to evaluate a company's strategy and financial performance, along with sustainability factors specific to supply chain instability and insecurity. The fund also encourages transformational change in the public companies it holds by applying proxy voting guidelines and engaging in dialogue with management. SUPP does not promote socially responsible investing by excluding companies based on any ESG criteria. Instead, it favors actions that encourage companies to invest in their employees, communities, customers, and the environment through its equity stake. Prior to October 13, 2023, the fund was called the Engine No. 1 Transform Supply Chain ETF.