Highland Capital Large Cap Growth ETF
Who We Are
Highland Capital Management is dedicated to the practice of investment management. Highland Capital is a wholly owned subsidiary of Argent Trust Company based in Ruston, Louisiana which has approximately $165 billion of assets under management. Highland has offices in Tennessee, Florida, and Alabama including our headquarters in Memphis, Tennessee. The company manages fixed income and equity portfolios and currently has approximately $4 billion in assets under management.
Investment Objective of the Fund (Ticker: AQLG)
The Highland Capital Large Cap Growth ETF (the “Fund”) seeks long term capital appreciation.
The Fund Strategy and Investment Process
The Fund is constructed utilizing a quantitative analysis of the equity markets in order to identify attractive securities and sectors within which to invest. The firm’s investment process is driven by an internal multi-factor model, which compiles fundamental and technical data on a universe of stocks comprised of the Russell 1000 Growth Index. This data is gathered and analyzed on a weekly basis and is utilized to rank individual securities and broad market sectors according to relative attractiveness. Securities considered for purchase into portfolios must rank within the top quartile of the investment universe. The quantitative modeling process screens broad market sectors and individual securities according to several factors, including but not limited to:
- Relative Valuation
- Earnings Momentum
- Earnings Growth
- Analyst Revisions
- Volatility
- Positive/Negative Surprises
- Overall Technical Strength
- Price-to-Earnings (P/E)
- Price-to-Book (P/B)
- Price-to-Sales (P/S)
- Price/Earnings to Growth (PEG) ratio
- Enterprise Value/EBITDA
- Dividend yield
- Relative Strength Index (RSI) factors
- Each security within the Russell 1000 Growth Index is scored and ranked to reflect the attractiveness of its valuation and other relevant metrics.
The Fund identifies sectors that contain the highest concentration of top-ranked individual equities. These sectors are then overweighted in the Fund’s portfolio to enhance exposure to areas with favorable valuation dynamics.
Within each sector, the Fund focuses on individual securities that fall within the top quartile of the model’s rankings. Only those stocks with the strongest overall scores are selected for inclusion in the portfolio. This rigorous screening process is designed to minimize emotional or behavioral biases and to maintain consistency in decision-making.
Fund Details
| Inception Date | Management Style | CUSIP: | Total Gross Expense Ratio |
|---|---|---|---|
| N/A | Active | N/A | 0.65 |
| Asset Class | Exchange | Advisor | |
| Equity | NASDAQ | Highland Capital Management | |
| As of Date | NAV($) | Market Price($) | Premium/Discount |
| 2/11/2026 | N/A | N/A | N/A |
| 30 Day Median Bid/Ask | Shares Outstanding | Total Net Assets | |
| N/A | N/A | N/A | |
Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Fund Performance
| NAV % | Market % | |
|---|---|---|
| ROLLING | ||
| 1 Month | N/A | N/A |
| 3 Month | N/A | N/A |
| YTD | N/A | N/A |
| SINCE INCEPTION | ||
| Daily (as of 2/11/2026) | N/A | N/A |
| Monthly (as of 1/30/2026) | N/A | N/A |
| Quarterly (as of 12/31/2025) | N/A | N/A |
| HISTORIC | ||
| Last Month (as of 1/12/2026) | N/A | N/A |
| Last Quarter (as of 12/31/2025) | N/A | N/A |
| Last Year (as of 12/31/2025) | N/A | N/A |
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
Fund Holdings
Disclosures
Before investing, carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus and a summary prospectus, copies of which may be obtained by calling 1-888-988-7649. Read the prospectus carefully before you invest.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
Important Fund Risks:
Market Risk: Equity securities may decline due to broad market moves or issuer-specific events; prices can be volatile over short and long periods. Large-Capitalization Risk: Large-cap companies can be less nimble than smaller peers and may lag in certain market environments. Growth Style Risk (Fund-specific): Growth stocks often trade at premium valuations and can experience larger drawdowns, especially in adverse markets. Model & Investment Selection Risk: The Fund uses a systematic, multi-factor model to rank securities; models have limitations and may not perform as expected. Security selection and sector tilts based on model rankings can underperform. Sector Concentration / Non-Diversification: Overweights to higher-ranked sectors and the Fund’s non-diversified status can increase volatility and sensitivity to sector-specific developments. New Fund Risk: Limited operating history; there is no guarantee the Fund will achieve its investment objective. Model / Quantitative Risk & Risks of Investment Selection: The Adviser’s proprietary model screens the Russell 1000 Growth universe; inputs, factor behavior, or implementation frictions can lead to results differing from expectations or the broader market. Security selection errors may occur. ETF Structure Risk: Shares trade on an exchange and may be subject to price fluctuations that differ from NAV. Trading costs may reduce returns.
The Fund is distributed by Foreside Fund Services LLC.
Index Definition – Russell 1000 Growth
The Russell 1000 Growth Index measures the performance of the large cap growth segment of the US equity universe. It includes those Russell 1000 companies with relatively higher price-to-book ratios, higher I/B/E/S forecast medium term (2 year) growth and higher sales per share historical growth (5 years). The Russell 1000 Growth Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect growth characteristics. The Index is not directly investable.
Glossary of Terms
Relative Value – estimate of value of an asset by comparing to assets of similar characteristics
Earnings Momentum – the trend of a company’s earnings performance
Earnings Growth – growth in a company’s quarterly or annual earnings per share
Analyst Revisions – change in Wall Street analyst expectations for a company’s earnings per share on a quarterly/annual basis
Volatility – the degree and speed of an asset’s price change over time
Positive/Negative Surprise – positive (negative) company result on a quarterly/annual basis vs Wall Street analyst expectations
Technical Strength – refers to a stock’s price momentum, upward (downward) chart trend, volume versus overall market, and can contain additional measurements
Price-to-Earnings (P/E) – fundamental valuation metric that measures a company’s share price to its earnings per share
Price-to-Book (P/B) – fundamental valuation metric that measures a company’s share price to its book value per share
Price-to-Sales (P/S) – fundamental valuation metric that measures a company’s share price to its sales per share
Price/Earnings to Growth (PEG) ratio – fundamental valuation metric that measures a company’s share price to its price earnings ratio divided by the growth in the company’s earnings.
Enterprise Value – measure of a company’s worth. Formula is Market Capitalization + Debt – Cash.
EBITDA – stands for Earnings Before Interest Taxes Depreciation and Amortization
Dividend yield – equals a company’s annual dividend divided by current stock price
Relative Strength Index (RSI) factors – technical measure that is a momentum indicator that measures speed and magnitude of a security’s price change