| Item | Value |
|---|---|
| Ticker (pseudo) | FCHE |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | ChEQ factor (Energy only) |
| Placeholder expense ratio | 0.45% |
| Placeholder inception date |
| 2020-03-04 |
| Number of holdings (long leg) | 26 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
| # | Ticker | Company | Sector | Weight | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| 1 | PAA | PLAINS ALL AMERICAN PIPELINE LP | Energy | 22.55% | $22,546,334 | HYP-PAA |
| 2 | NE | NOBLE CORP PLC | Energy | 8.91% | $8,906,391 | HYP-NE |
| 3 | NOV | NOV INC | Energy | 8.31% | $8,313,584 | HYP-NOV |
| 4 | CRC | CALIFORNIA RESOURCES CORP | Energy | 5.54% | $5,537,149 | HYP-CRC |
| 5 | CNR | CORE NATURAL RESOURCES INC | Energy | 5.45% | $5,451,994 | HYP-CNR |
| 6 | PTEN | PATTERSON UTI ENERGY INC | Energy | 5.30% | $5,303,694 | HYP-PTEN |
| 7 | HESM | HESS MIDSTREAM LP | Energy | 5.14% | $5,142,031 | HYP-HESM |
| 8 | HP | HELMERICH & PAYNE INC | Energy | 4.86% | $4,861,283 | HYP-HP |
| 9 | BSM | BLACK STONE MINERALS LP | Energy | 4.19% | $4,191,836 | HYP-BSM |
| 10 | TALO | TALOS ENERGY INC | Energy | 3.47% | $3,470,904 | HYP-TALO |
| 11 | NOG | NORTHERN OIL & GAS INC | Energy | 3.43% | $3,432,257 | HYP-NOG |
| 12 | BTU | PEABODY ENERGY CORP | Energy | 2.78% | $2,780,365 | HYP-BTU |
| 13 | LBRT | LIBERTY ENERGY INC | Energy | 2.76% | $2,762,155 | HYP-LBRT |
| 14 | WKC | WORLD KINECT CORP | Energy | 2.33% | $2,331,404 | HYP-WKC |
| 15 | NEXT | NEXTDECADE CORP | Energy | 2.30% | $2,296,032 | HYP-NEXT |
| 16 | MNR | MACH NATURAL RESOURCES LP | Energy | 2.01% | $2,013,580 | HYP-MNR |
| 17 | DMLP | DORCHESTER MINERALS LP | Energy | 1.88% | $1,876,940 | HYP-DMLP |
| 18 | RES | RPC INC | Energy | 1.63% | $1,631,301 | HYP-RES |
| 19 | HPK | HIGHPEAK ENERGY INC | Energy | 1.38% | $1,380,947 | HYP-HPK |
| 20 | GRNT | GRANITE RIDGE RESOURCES INC | Energy | 1.12% | $1,121,945 | HYP-GRNT |
| 21 | TXO | TXO PARTNERS LP | Energy | 1.02% | $1,017,664 | HYP-TXO |
| 22 | AESI | ATLAS ENERGY SOLUTIONS INC | Energy | 0.90% | $902,508 | HYP-AESI |
| 23 | VTS | VITESSE ENERGY INC | Energy | 0.85% | $851,154 | HYP-VTS |
| 24 | EGY | VAALCO ENERGY INC | Energy | 0.76% | $762,069 | HYP-EGY |
| 25 | OIS | OIL STATES INTERNATIONAL INC | Energy | 0.67% | $669,971 | HYP-OIS |
| 26 | GTE | GRAN TIERRA ENERGY INC | Energy | 0.44% | $444,507 | HYP-GTE |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.