| Item | Value |
|---|---|
| Ticker (pseudo) | FVOE |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | VolSD factor (Energy only) |
| Placeholder expense ratio | 0.45% |
| Placeholder inception date |
| 2020-05-16 |
| Number of holdings (long leg) | 28 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
| # | Ticker | Company | Sector | Weight | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| 1 | ARLP | ALLIANCE RESOURCE PARTNERS LP | Energy | 12.61% | $12,606,046 | HYP-ARLP |
| 2 | BSM | BLACK STONE MINERALS LP | Energy | 12.41% | $12,406,362 | HYP-BSM |
| 3 | DKL | DELEK LOGISTICS PARTNERS LP | Energy | 12.03% | $12,025,994 | HYP-DKL |
| 4 | GEL | GENESIS ENERGY LP | Energy | 5.99% | $5,994,386 | HYP-GEL |
| 5 | GLP | GLOBAL PARTNERS LP | Energy | 5.73% | $5,729,950 | HYP-GLP |
| 6 | DMLP | DORCHESTER MINERALS LP | Energy | 5.56% | $5,555,082 | HYP-DMLP |
| 7 | PBT | PERMIAN BASIN ROYALTY TRUST | Energy | 5.48% | $5,479,473 | HYP-PBT |
| 8 | HPK | HIGHPEAK ENERGY INC | Energy | 4.09% | $4,087,116 | HYP-HPK |
| 9 | GRNT | GRANITE RIDGE RESOURCES INC | Energy | 3.32% | $3,320,564 | HYP-GRNT |
| 10 | INR | INFINITY NATURAL RESOURCES INC | Energy | 3.24% | $3,243,792 | HYP-INR |
| 11 | TXO | TXO PARTNERS LP | Energy | 3.01% | $3,011,927 | HYP-TXO |
| 12 | CAPL | CROSSAMERICA PARTNERS LP | Energy | 2.94% | $2,940,971 | HYP-CAPL |
| 13 | WHK | WHITEHAWK MINERALS CORP | Energy | 2.74% | $2,735,084 | HYP-WHK |
| 14 | APC | ARKO PETROLEUM CORP | Energy | 2.71% | $2,706,004 | HYP-APC |
| 15 | EGY | VAALCO ENERGY INC | Energy | 2.26% | $2,255,455 | HYP-EGY |
| 16 | HMH | HMH HOLDING INC | Energy | 2.14% | $2,142,237 | HYP-HMH |
| 17 | SD | SANDRIDGE ENERGY INC | Energy | 1.89% | $1,893,311 | HYP-SD |
| 18 | SGU | STAR GROUP LP | Energy | 1.68% | $1,676,955 | HYP-SGU |
| 19 | SMC | SUMMIT MIDSTREAM CORP | Energy | 1.66% | $1,661,057 | HYP-SMC |
| 20 | NGS | NATURAL GAS SERVICES GROUP INC | Energy | 1.46% | $1,456,721 | HYP-NGS |
| 21 | GTE | GRAN TIERRA ENERGY INC | Energy | 1.32% | $1,315,585 | HYP-GTE |
| 22 | FTW | PRESIDIO PRODUCTION CO | Energy | 1.24% | $1,241,140 | HYP-FTW |
| 23 | RNGR | RANGER ENERGY SERVICES INC | Energy | 1.15% | $1,151,573 | HYP-RNGR |
| 24 | NC | NACCO INDUSTRIES INC | Energy | 1.03% | $1,029,825 | HYP-NC |
| 25 | PED | PEDEVCO CORP | Energy | 0.67% | $672,333 | HYP-PED |
| 26 | EPSN | EPSILON ENERGY LTD | Energy | 0.64% | $637,437 | HYP-EPSN |
| 27 | BOOM | DMC GLOBAL INC | Energy | 0.64% | $636,273 | HYP-BOOM |
| 28 | NINE | NINE ENERGY SERVICE INC | Energy | 0.39% | $387,347 | HYP-NINE |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.