| Item | Value |
|---|---|
| Ticker (pseudo) | FSPE |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | Sales-to-Price factor (Energy only) |
| Placeholder expense ratio | 0.45% |
| Placeholder inception date |
| 2020-02-24 |
| Number of holdings (long leg) | 27 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
| # | Ticker | Company | Sector | Weight | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| 1 | MPC | MARATHON PETROLEUM CORP | Energy | 28.01% | $28,005,215 | HYP-MPC |
| 2 | VLO | VALERO ENERGY CORP | Energy | 26.05% | $26,051,033 | HYP-VLO |
| 3 | PSX | PHILLIPS 66 | Energy | 25.55% | $25,549,333 | HYP-PSX |
| 4 | DINO | HF SINCLAIR CORP | Energy | 4.36% | $4,361,184 | HYP-DINO |
| 5 | PAA | PLAINS ALL AMERICAN PIPELINE LP | Energy | 4.29% | $4,287,541 | HYP-PAA |
| 6 | PBF | PBF ENERGY INC | Energy | 2.14% | $2,144,817 | HYP-PBF |
| 7 | PAGP | PLAINS GP HOLDINGS LP | Energy | 1.29% | $1,290,572 | HYP-PAGP |
| 8 | DK | DELEK US HOLDINGS INC | Energy | 1.03% | $1,033,046 | HYP-DK |
| 9 | CVI | CVR ENERGY INC | Energy | 1.03% | $1,028,362 | HYP-CVI |
| 10 | PARR | PAR PACIFIC HOLDINGS INC | Energy | 0.90% | $898,615 | HYP-PARR |
| 11 | CLMT | CALUMET INC | Energy | 0.80% | $799,959 | HYP-CLMT |
| 12 | DNOW | DNOW INC | Energy | 0.63% | $625,169 | HYP-DNOW |
| 13 | BTU | PEABODY ENERGY CORP | Energy | 0.53% | $528,730 | HYP-BTU |
| 14 | LBRT | LIBERTY ENERGY INC | Energy | 0.53% | $525,267 | HYP-LBRT |
| 15 | NGL | NGL ENERGY PARTNERS LP | Energy | 0.49% | $486,004 | HYP-NGL |
| 16 | WKC | WORLD KINECT CORP | Energy | 0.44% | $443,353 | HYP-WKC |
| 17 | GLP | GLOBAL PARTNERS LP | Energy | 0.37% | $368,165 | HYP-GLP |
| 18 | NBR | NABORS INDUSTRIES LTD | Energy | 0.32% | $315,076 | HYP-NBR |
| 19 | RES | RPC INC | Energy | 0.31% | $310,218 | HYP-RES |
| 20 | CAPL | CROSSAMERICA PARTNERS LP | Energy | 0.19% | $188,966 | HYP-CAPL |
| 21 | APC | ARKO PETROLEUM CORP | Energy | 0.17% | $173,868 | HYP-APC |
| 22 | AESI | ATLAS ENERGY SOLUTIONS INC | Energy | 0.17% | $171,626 | HYP-AESI |
| 23 | SGU | STAR GROUP LP | Energy | 0.11% | $107,749 | HYP-SGU |
| 24 | SMC | SUMMIT MIDSTREAM CORP | Energy | 0.11% | $106,728 | HYP-SMC |
| 25 | GTE | GRAN TIERRA ENERGY INC | Energy | 0.08% | $84,530 | HYP-GTE |
| 26 | RNGR | RANGER ENERGY SERVICES INC | Energy | 0.07% | $73,992 | HYP-RNGR |
| 27 | BOOM | DMC GLOBAL INC | Energy | 0.04% | $40,882 | HYP-BOOM |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.