| Item | Value |
|---|---|
| Ticker (pseudo) | FDNI |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | dNOA factor (Industrials only) |
| Placeholder expense ratio | 0.45% |
| Placeholder inception date |
| 2020-03-22 |
| Number of holdings (long leg) | 77 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | November 2026 |
| # | Ticker | Company | Sector | Weight | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| 1 | ADP | AUTOMATIC DATA PROCESSING INC | Industrials | 19.36% | $19,357,772 | HYP-ADP |
| 2 | FDX | FEDEX CORP | Industrials | 11.91% | $11,908,852 | HYP-FDX |
| 3 | HON | HONEYWELL INTERNATIONAL INC | Industrials | 11.29% | $11,293,168 | HYP-HON |
| 4 | LHX | L3HARRIS TECHNOLOGIES INC | Industrials | 8.06% | $8,060,829 | HYP-LHX |
| 5 | CARR | CARRIER GLOBAL CORP | Industrials | 7.08% | $7,084,073 | HYP-CARR |
| 6 | FIX | COMFORT SYSTEMS USA INC | Industrials | 6.29% | $6,285,233 | HYP-FIX |
| 7 | VRSK | VERISK ANALYTICS INC | Industrials | 4.22% | $4,215,099 | HYP-VRSK |
| 8 | JBHT | HUNT J B TRANSPORT SERVICES INC | Industrials | 3.38% | $3,379,679 | HYP-JBHT |
| 9 | SWK | STANLEY BLACK & DECKER INC | Industrials | 2.68% | $2,676,326 | HYP-SWK |
| 10 | R | RYDER SYSTEM INC | Industrials | 1.70% | $1,698,359 | HYP-R |
| 11 | TTC | TORO CO | Industrials | 1.61% | $1,610,803 | HYP-TTC |
| 12 | KNX | KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC | Industrials | 1.60% | $1,600,722 | HYP-KNX |
| 13 | AYI | ACUITY INC (DE) | Industrials | 1.56% | $1,561,912 | HYP-AYI |
| 14 | OC | OWENS CORNING | Industrials | 1.44% | $1,443,588 | HYP-OC |
| 15 | OSK | OSHKOSH CORP | Industrials | 1.36% | $1,363,277 | HYP-OSK |
| 16 | FLR | FLUOR CORP | Industrials | 1.01% | $1,010,884 | HYP-FLR |
| 17 | MIDD | MIDDLEBY CORP | Industrials | 0.98% | $975,403 | HYP-MIDD |
| 18 | FBIN | FORTUNE BRANDS INNOVATIONS INC | Industrials | 0.90% | $897,911 | HYP-FBIN |
| 19 | ENS | ENERSYS | Industrials | 0.85% | $848,877 | HYP-ENS |
| 20 | TPC | TUTOR PERINI CORP | Industrials | 0.84% | $839,943 | HYP-TPC |
| 21 | POWL | POWELL INDUSTRIES INC | Industrials | 0.82% | $822,537 | HYP-POWL |
| 22 | SNDR | SCHNEIDER NATIONAL INC | Industrials | 0.81% | $808,539 | HYP-SNDR |
| 23 | GFF | GRIFFON CORP | Industrials | 0.76% | $756,240 | HYP-GFF |
| 24 | CAR | AVIS BUDGET GROUP INC | Industrials | 0.71% | $707,398 | HYP-CAR |
| 25 | AGX | ARGAN INC | Industrials | 0.70% | $704,563 | HYP-AGX |
| 26 | WSC | WILLSCOT HOLDINGS CORP | Industrials | 0.57% | $574,040 | HYP-WSC |
| 27 | REZI | RESIDEO TECHNOLOGIES INC | Industrials | 0.52% | $520,038 | HYP-REZI |
| 28 | ARCB | ARCBEST CORP | Industrials | 0.47% | $472,676 | HYP-ARCB |
| 29 | CXW | CORECIVIC INC | Industrials | 0.43% | $433,643 | HYP-CXW |
| 30 | TRN | TRINITY INDUSTRIES INC | Industrials | 0.38% | $375,787 | HYP-TRN |
| 31 | PBI | PITNEY BOWES INC | Industrials | 0.34% | $337,630 | HYP-PBI |
| 32 | NSP | INSPERITY INC | Industrials | 0.30% | $302,372 | HYP-NSP |
| 33 | VSTS | VESTIS CORP | Industrials | 0.30% | $298,661 | HYP-VSTS |
| 34 | GRC | GORMAN RUPP CO | Industrials | 0.29% | $294,839 | HYP-GRC |
| 35 | GIC | GLOBAL INDUSTRIAL CO | Industrials | 0.29% | $286,096 | HYP-GIC |
| 36 | ULCC | FRONTIER GROUP HOLDINGS INC | Industrials | 0.28% | $282,545 | HYP-ULCC |
| 37 | HLIO | HELIOS TECHNOLOGIES INC | Industrials | 0.25% | $248,035 | HYP-HLIO |
| 38 | ICFI | ICF INTERNATIONAL INC | Industrials | 0.23% | $234,929 | HYP-ICFI |
| 39 | UPWK | UPWORK INC | Industrials | 0.20% | $197,504 | HYP-UPWK |
| 40 | AMPX | AMPRIUS TECHNOLOGIES INC | Industrials | 0.19% | $194,256 | HYP-AMPX |
| 41 | NSSC | NAPCO SECURITY TECHNOLOGIES INC | Industrials | 0.17% | $172,820 | HYP-NSSC |
| 42 | CYRX | CRYOPORT INC | Industrials | 0.16% | $162,294 | HYP-CYRX |
| 43 | NPK | NATIONAL PRESTO INDUSTRIES INC | Industrials | 0.16% | $159,443 | HYP-NPK |
| 44 | WLFC | WILLIS LEASE FINANCE CORP | Industrials | 0.16% | $156,210 | HYP-WLFC |
| 45 | MRTN | MARTEN TRANSPORT LTD | Industrials | 0.16% | $155,143 | HYP-MRTN |
| 46 | CODI | COMPASS DIVERSIFIED HOLDINGS | Industrials | 0.14% | $141,384 | HYP-CODI |
| 47 | KODK | EASTMAN KODAK CO | Industrials | 0.13% | $132,800 | HYP-KODK |
| 48 | FCEL | FUELCELL ENERGY INC | Industrials | 0.13% | $130,507 | HYP-FCEL |
| 49 | HTLD | HEARTLAND EXPRESS INC | Industrials | 0.13% | $126,972 | HYP-HTLD |
| 50 | ULH | UNIVERSAL LOGISTICS HOLDINGS INC | Industrials | 0.12% | $124,758 | HYP-ULH |
| 51 | SWBI | SMITH & WESSON BRANDS INC | Industrials | 0.11% | $111,190 | HYP-SWBI |
| 52 | PANL | PANGAEA LOGISTICS SOLUTIONS LTD | Industrials | 0.10% | $98,641 | HYP-PANL |
| 53 | MATW | MATTHEWS INTERNATIONAL CORP | Industrials | 0.09% | $93,895 | HYP-MATW |
| 54 | FWRD | FORWARD AIR CORP | Industrials | 0.09% | $92,239 | HYP-FWRD |
| 55 | SBC | SBC MEDICAL GROUP HOLDINGS INC | Industrials | 0.09% | $87,461 | HYP-SBC |
| 56 | PKE | PARK AEROSPACE CORP | Industrials | 0.09% | $86,665 | HYP-PKE |
| 57 | EBF | ENNIS INC | Industrials | 0.09% | $85,630 | HYP-EBF |
| 58 | HY | HYSTER-YALE INC | Industrials | 0.08% | $79,785 | HYP-HY |
| 59 | ASPN | ASPEN AEROGELS INC | Industrials | 0.08% | $79,292 | HYP-ASPN |
| 60 | KELYA | KELLY SERVICES INC | Industrials | 0.08% | $76,568 | HYP-KELYA |
| 61 | ZIP | ZIPRECRUITER INC | Industrials | 0.07% | $73,351 | HYP-ZIP |
| 62 | FSTR | FOSTER L B CO | Industrials | 0.07% | $72,253 | HYP-FSTR |
| 63 | CVEO | CIVEO CORP | Industrials | 0.06% | $59,799 | HYP-CVEO |
| 64 | SPIR | SPIRE GLOBAL INC | Industrials | 0.06% | $59,751 | HYP-SPIR |
| 65 | ERII | ENERGY RECOVERY INC | Industrials | 0.06% | $57,968 | HYP-ERII |
| 66 | TWI | TITAN INTERNATIONAL INC | Industrials | 0.05% | $52,983 | HYP-TWI |
| 67 | EAF | GRAFTECH INTERNATIONAL LTD | Industrials | 0.05% | $47,457 | HYP-EAF |
| 68 | GFUZ | GENERAL FUSION GROUP LTD | Industrials | 0.05% | $45,912 | HYP-GFUZ |
| 69 | SMHI | SEACOR MARINE HOLDINGS INC | Industrials | 0.04% | $37,743 | HYP-SMHI |
| 70 | RCMT | RCM TECHNOLOGIES INC | Industrials | 0.04% | $35,625 | HYP-RCMT |
| 71 | ALTG | ALTA EQUIPMENT GROUP INC | Industrials | 0.03% | $29,589 | HYP-ALTG |
| 72 | FORR | FORRESTER RESEARCH INC | Industrials | 0.03% | $26,452 | HYP-FORR |
| 73 | AP | AMPCO PITTSBURGH CORP | Industrials | 0.03% | $25,241 | HYP-AP |
| 74 | HURC | HURCO COMPANIES INC | Industrials | 0.02% | $21,499 | HYP-HURC |
| 75 | TISI | TEAM INC | Industrials | 0.02% | $17,040 | HYP-TISI |
| 76 | APT | ALPHA PRO TECH LTD | Industrials | 0.01% | $10,208 | HYP-APT |
| 77 | TPCS | TECHPRECISION CORP | Industrials | 0.01% | $8,393 | HYP-TPCS |
DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE.