| Item | Value |
|---|---|
| Ticker (pseudo) | FNOC |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | Net Operating Assets factor (Consumer Cyclical only) |
| Placeholder expense ratio | 0.45% |
| Placeholder inception date |
| 2019-12-18 |
| Number of holdings (long leg) | 60 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
| # | Ticker | Company | Sector | Weight | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| 1 | SBUX | STARBUCKS CORP | Consumer Cyclical | 11.60% | $11,602,539 | HYP-SBUX |
| 2 | BKNG | BOOKING HOLDINGS INC | Consumer Cyclical | 11.38% | $11,375,587 | HYP-BKNG |
| 3 | MAR | MARRIOTT INTERNATIONAL INC | Consumer Cyclical | 10.38% | $10,376,152 | HYP-MAR |
| 4 | ABNB | AIRBNB INC | Consumer Cyclical | 10.26% | $10,256,224 | HYP-ABNB |
| 5 | HLT | HILTON WORLDWIDE HOLDINGS INC | Consumer Cyclical | 7.87% | $7,869,425 | HYP-HLT |
| 6 | ROST | ROSS STORES INC | Consumer Cyclical | 7.19% | $7,191,272 | HYP-ROST |
| 7 | ORLY | O REILLY AUTOMOTIVE INC | Consumer Cyclical | 6.97% | $6,968,143 | HYP-ORLY |
| 8 | YUM | YUM BRANDS INC | Consumer Cyclical | 4.06% | $4,055,913 | HYP-YUM |
| 9 | EXPE | EXPEDIA GROUP INC | Consumer Cyclical | 2.94% | $2,937,138 | HYP-EXPE |
| 10 | WSM | WILLIAMS SONOMA INC | Consumer Cyclical | 2.80% | $2,798,194 | HYP-WSM |
| 11 | CPNG | COUPANG INC | Consumer Cyclical | 2.60% | $2,600,324 | HYP-CPNG |
| 12 | BBY | BEST BUY CO INC | Consumer Cyclical | 2.06% | $2,057,917 | HYP-BBY |
| 13 | RIVN | RIVIAN AUTOMOTIVE INC | Consumer Cyclical | 1.77% | $1,772,789 | HYP-RIVN |
| 14 | H | HYATT HOTELS CORP | Consumer Cyclical | 1.66% | $1,658,980 | HYP-H |
| 15 | W | WAYFAIR INC | Consumer Cyclical | 1.45% | $1,447,504 | HYP-W |
| 16 | CART | INSTACART (MAPLEBEAR INC) | Consumer Cyclical | 1.31% | $1,313,067 | HYP-CART |
| 17 | DECK | DECKERS OUTDOOR CORP | Consumer Cyclical | 1.07% | $1,070,629 | HYP-DECK |
| 18 | DPZ | DOMINOS PIZZA INC | Consumer Cyclical | 1.04% | $1,040,160 | HYP-DPZ |
| 19 | BWA | BORGWARNER INC | Consumer Cyclical | 0.97% | $971,604 | HYP-BWA |
| 20 | SCI | SERVICE CORP INTERNATIONAL | Consumer Cyclical | 0.97% | $966,812 | HYP-SCI |
| 21 | DKNG | DRAFTKINGS INC | Consumer Cyclical | 0.90% | $904,025 | HYP-DKNG |
| 22 | CHWY | CHEWY INC | Consumer Cyclical | 0.86% | $861,923 | HYP-CHWY |
| 23 | ETSY | ETSY INC | Consumer Cyclical | 0.72% | $722,201 | HYP-ETSY |
| 24 | FTDR | FRONTDOOR INC | Consumer Cyclical | 0.61% | $611,960 | HYP-FTDR |
| 25 | LEA | LEAR CORP | Consumer Cyclical | 0.50% | $496,472 | HYP-LEA |
| 26 | SKY | CHAMPION HOMES INC | Consumer Cyclical | 0.47% | $470,805 | HYP-SKY |
| 27 | SIG | SIGNET JEWELERS LTD | Consumer Cyclical | 0.43% | $429,832 | HYP-SIG |
| 28 | OPLN | OPENLANE INC | Consumer Cyclical | 0.40% | $400,227 | HYP-OPLN |
| 29 | GTX | GARRETT MOTION INC | Consumer Cyclical | 0.38% | $376,610 | HYP-GTX |
| 30 | PTRN | PATTERN GROUP INC | Consumer Cyclical | 0.35% | $351,265 | HYP-PTRN |
| 31 | PII | POLARIS INC | Consumer Cyclical | 0.35% | $349,424 | HYP-PII |
| 32 | HOG | HARLEY-DAVIDSON INC | Consumer Cyclical | 0.31% | $310,871 | HYP-HOG |
| 33 | CARG | CARGURUS INC | Consumer Cyclical | 0.29% | $290,698 | HYP-CARG |
| 34 | CALY | CALLAWAY GOLF CO | Consumer Cyclical | 0.28% | $275,592 | HYP-CALY |
| 35 | AAP | ADVANCE AUTO PARTS INC | Consumer Cyclical | 0.26% | $261,577 | HYP-AAP |
| 36 | RSI | RUSH STREET INTERACTIVE INC | Consumer Cyclical | 0.26% | $258,199 | HYP-RSI |
| 37 | PTON | PELOTON INTERACTIVE INC | Consumer Cyclical | 0.23% | $233,955 | HYP-PTON |
| 38 | DAN | DANA INC | Consumer Cyclical | 0.22% | $215,253 | HYP-DAN |
| 39 | LIND | LINDBLAD EXPEDITIONS HOLDINGS INC | Consumer Cyclical | 0.21% | $212,634 | HYP-LIND |
| 40 | CPRI | CAPRI HOLDINGS LTD | Consumer Cyclical | 0.20% | $199,862 | HYP-CPRI |
| 41 | VC | VISTEON CORP | Consumer Cyclical | 0.19% | $185,468 | HYP-VC |
| 42 | REAL | THEREALREAL INC | Consumer Cyclical | 0.17% | $169,337 | HYP-REAL |
| 43 | LQDT | LIQUIDITY SERVICES INC | Consumer Cyclical | 0.13% | $134,228 | HYP-LQDT |
| 44 | TRS | TRIMAS CORP | Consumer Cyclical | 0.13% | $128,061 | HYP-TRS |
| 45 | RVLV | REVOLVE GROUP INC | Consumer Cyclical | 0.13% | $126,485 | HYP-RVLV |
| 46 | ADNT | ADIENT PLC | Consumer Cyclical | 0.12% | $115,659 | HYP-ADNT |
| 47 | WINA | WINMARK CORP | Consumer Cyclical | 0.09% | $91,775 | HYP-WINA |
| 48 | TRIP | TRIPADVISOR INC | Consumer Cyclical | 0.08% | $81,110 | HYP-TRIP |
| 49 | FOXF | FOX FACTORY HOLDING CORP | Consumer Cyclical | 0.07% | $69,078 | HYP-FOXF |
| 50 | MOV | MOVADO GROUP INC | Consumer Cyclical | 0.07% | $67,646 | HYP-MOV |
| 51 | PZZA | PAPA JOHNS INTERNATIONAL INC | Consumer Cyclical | 0.06% | $59,893 | HYP-PZZA |
| 52 | JOUT | JOHNSON OUTDOORS INC | Consumer Cyclical | 0.05% | $47,302 | HYP-JOUT |
| 53 | HBB | HAMILTON BEACH BRANDS HOLDING CO | Consumer Cyclical | 0.04% | $38,895 | HYP-HBB |
| 54 | CHPT | CHARGEPOINT HOLDINGS INC | Consumer Cyclical | 0.03% | $30,696 | HYP-CHPT |
| 55 | KWY | KINGSWAY CORP | Consumer Cyclical | 0.02% | $24,927 | HYP-KWY |
| 56 | STRT | STRATTEC SECURITY CORP | Consumer Cyclical | 0.02% | $23,855 | HYP-STRT |
| 57 | MPAA | MOTORCAR PARTS OF AMERICA INC | Consumer Cyclical | 0.01% | $13,873 | HYP-MPAA |
| 58 | SRI | STONERIDGE INC | Consumer Cyclical | 0.01% | $13,787 | HYP-SRI |
| 59 | BARK | BARK INC | Consumer Cyclical | 0.01% | $7,705 | HYP-BARK |
| 60 | PRTS | CARPARTSCOM INC | Consumer Cyclical | 0.01% | $6,462 | HYP-PRTS |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.