The Fund seeks long-term capital appreciation by tracking a rules-based OPLev factor model, before the placeholder expense ratio and trading costs.
| Item | Value |
|---|---|
| Ticker (pseudo) | FOPF |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | OPLev factor (Financial Services only) |
| Placeholder expense ratio |
| 0.45% |
| Placeholder inception date | 2020-05-16 |
| Number of holdings (long leg) | 142 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
The following performance is HYPOTHETICAL and BACKTESTED — it was calculated by applying the model to historical data with the benefit of hindsight, is gross of the placeholder expense ratio and trading costs, and does not represent the results of any actual account. Past (hypothetical) performance does not guarantee or predict future results.
| Year | Hypothetical Total Return |
|---|---|
| 2017 | 16.16% |
| 2018 | 11.28% |
| 2019 | 1.85% |
| 2020 | 16.68% |
| 2021 | -17.99% |
| 2022 | 0.49% |
| 2023 | -12.99% |
| 2024 | 2.42% |
| 2025 | -6.81% |
| 2026 | 2.91% |
| Period | Hypothetical Avg. Annual Total Return |
|---|---|
| 1 Year | 2.75% |
| 3 Years | -3.95% |
| 5 Years | -2.46% |
| 10 Years | 0.53% |
| Since Model Inception (full sample) | 0.14% |
| # | Ticker | Company | Sector | Weight | Market Value |
|---|---|---|---|---|---|
| 1 | BRK.B | BERKSHIRE HATHAWAY INC | Financial Services | 27.01% | $27,010,696 |
| 2 | V | VISA INC | Financial Services | 16.95% | $16,946,919 |
| 3 | MA | MASTERCARD INC | Financial Services | 12.30% | $12,302,492 |
| 4 | AXP | AMERICAN EXPRESS CO | Financial Services | 4.62% | $4,615,106 |
| 5 | PGR | PROGRESSIVE CORP | Financial Services | 2.95% | $2,952,315 |
| 6 | SPGI | S&P GLOBAL INC | Financial Services | 2.94% | $2,939,050 |
| 7 | MRSH | MARSH & MCLENNAN COMPANIES INC | Financial Services | 2.12% | $2,116,492 |
| 8 | BX | BLACKSTONE INC | Financial Services | 1.93% | $1,926,689 |
| 9 | MCO | MOODYS CORP | Financial Services | 1.89% | $1,889,766 |
| 10 | TRV | TRAVELERS COMPANIES INC | Financial Services | 1.79% | $1,788,049 |
| Sector | Weight | # Holdings |
|---|---|---|
| Financial Services | 100.00% | 142 |
| Characteristic | Value |
|---|---|
| Sharpe ratio (full sample) | 0.08 |
| Annualized volatility | 13.93% |
| Maximum drawdown | -58.60% |
| Average monthly turnover | 3.75% |
| Out-of-sample Sharpe (2019-26) | -0.06 |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.