We proudly feature the paintings of Brian Rutenberg, who inspires all of us through his unique passion, dedication and singularity of vision. Brian has been a client and a friend of the firm for many years. We encourage you to experience Brian’s work which is such an inspirational display of self-expression at www.brianrutenbergart.com.
The Dakota Active Equity Team’s core investment philosophy centers on the skillful integration of qualitative insight (Art) and quantitative analysis (Science) in investment management. Our structured approach to identifying high-growth potential stocks employs a comprehensive framework that combines systematic fundamental analysis with subjective implementation, with the objective of enhancing portfolio outcomes. A key component of our strategy is the consistent application of rigorous, multi-faceted research, which we believe can generate alpha and contribute to more consistent performance. Furthermore, we maintain that continuous, innovative research is critical for uncovering emerging opportunities and fortifying our investment process. Our focus is on identifying leading companies within the most robust sectors and industries.
By skillfully blending quantitative analysis with qualitative insight, our integrated approach aims to enhance stock selection and improve portfolio outcomes. This rigorous, multi-faceted research process leverages a repeatable process that identifies high-quality growth opportunities within leading sectors and industries. Our commitment to continuous innovation further strengthens our ability to adapt to market dynamics and uncover emerging opportunities for sustained success.
| 1 | Ticker | DAK |
|---|---|---|
| 1 | Ticker | DAK |
| 2 | Fund Type | Active |
| 3 | CUSIP | 02072Q556 |
| 4 | Exchange | Nasdaq |
| 5 | Inception | 2025-07-29 |
| 6 | Expense Ratio | 0.4300 |
| 7 | 30-Day Bid/Ask Spread* | 0.13% |
| 8 | AUM ($mm) | $55.71 |
| 9 | As of Date | 2026-10-08 |
| Fund Ticker | Factsheet | Summary Prospectus | Statutory Prospectus | SAI | Part F Q3 | Part F Q1 | N-PX Proxy Voting Record | Annual Financials | Annual SOI | Annual TSR | Semi-Annual Financials | Semi-Annual SOI | Semi-Annual TSR | Presentation |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAK | Download | Download | Download | Download | Download | Download | Download | Download | Download | Download | Download | Download |
| Field | Last | 1-Day Change ($) | 1-Day Change (%) |
|---|---|---|---|
| NAV | $30.18 | 0.00 | -0.27% |
| Market Price | $30.19 | 0.00 | -0.27% |
| Premium / Discount | 0.03% |
| Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAK | MKT | 12.21 | -0.58 | 2.98 | 16.6 | 14.75 | 16.87 | 09/30/2026 | 07/29/2025 | |||
| DAK | NAV | 12.1 | -0.64 | 2.87 | 16.39 | 14.64 | 16.70 | 09/30/2026 | 07/29/2025 |
| Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAK | MKT | 12.21 | -0.58 | 2.98 | 16.6 | 14.75 | 16.87 | 09/30/2026 | 07/29/2025 | |||
| DAK | NAV | 12.10 | -0.64 | 2.87 | 16.39 | 14.64 | 16.70 | 09/30/2026 | 07/29/2025 |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. YTD is year-to-date and ITD is inception-to-date.
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.
| Year | Quarter | Days Traded at Premium | Days Traded at Discount |
|---|---|---|---|
| 2026 | 1 | 55 | 5 |
| Days Traded at Premium | Days traded at Discount |
|---|---|
| 90 | 10 |
| Ex Date | Record Date | Payable Date | Income | Short Term Capital Gain | Long Term Capital Gain | Total Capital Gain | Total Distribution |
|---|---|---|---|---|---|---|---|
| 09/29/2025 | 09/29/2025 | 09/30/2025 | 0.04 | 0.04 | |||
| 12/23/2025 | 12/23/2025 | 12/24/2025 | 0.08 | 0.08 | |||
| 03/30/2026 | 03/30/2026 | 03/31/2026 | 0.05 | 0.05 | |||
| 06/29/2026 | 06/29/2026 | 06/30/2026 | 0.06 | 0.06 | |||
| 09/28/2026 | 09/28/2026 | 09/30/2026 | 0.06 | 0.06 |
| Ticker | Name | CUSIP | SHARES | PRICE | Market Value ($mm) | % of Net Assets | EFFECTIVE_DATE |
|---|---|---|---|---|---|---|---|
| ABBV | AbbVie Inc | 00287Y109 | 1,020 | 271.36 | 0.28 | 0.63 | 10/08/2026 |
| AMD | Advanced Micro Devices Inc | 007903107 | 2,406 | 645.86 | 1.55 | 3.51 | 10/08/2026 |
| ALGN | Align Technology Inc | 016255101 | 4,067 | 139.87 | 0.57 | 1.29 | 10/08/2026 |
| ALL | Allstate Corp/The | 020002101 | 3,099 | 223.95 | 0.69 | 1.57 | 10/08/2026 |
| GOOG | Alphabet Inc | 02079K107 | 4,341 | 347.37 | 1.51 | 3.41 | 10/08/2026 |
| GOOGL | Alphabet Inc | 02079K305 | 1,523 | 350.50 | 0.53 | 1.21 | 10/08/2026 |
| AMZN | Amazon.com Inc | 023135106 | 6,954 | 259.92 | 1.81 | 4.09 | 10/08/2026 |
| APH | Amphenol Corp | 032095101 | 12,314 | 87.55 | 1.08 | 2.44 | 10/08/2026 |
| ADI | Analog Devices Inc | 032654105 | 3,148 | 410.08 | 1.29 | 2.92 | 10/08/2026 |
| AAPL | Apple Inc | 037833100 | 8,117 | 336.67 | 2.73 | 6.18 | 10/08/2026 |
| AMAT | Applied Materials Inc | 038222105 | 69 | 520.65 | 0.04 | 0.08 | 10/08/2026 |
| ANET | Arista Networks Inc | 040413205 | 4,158 | 215.83 | 0.90 | 2.03 | 10/08/2026 |
| ADP | Automatic Data Processing Inc | 053015103 | 3,159 | 264.00 | 0.83 | 1.89 | 10/08/2026 |
| BNY | Bank of New York Mellon Corp/The | 064058100 | 6,913 | 142.72 | 0.99 | 2.23 | 10/08/2026 |
| BLK | Blackrock Inc | 09290D101 | 33 | 1,069.63 | 0.04 | 0.08 | 10/08/2026 |
| BSX | Boston Scientific Corp | 101137107 | 20,376 | 41.58 | 0.85 | 1.92 | 10/08/2026 |
| CBOE | Cboe Global Markets Inc | 12503M108 | 3,370 | 281.57 | 0.95 | 2.14 | 10/08/2026 |
| CVX | Chevron Corp | 166764100 | 206 | 205.15 | 0.04 | 0.10 | 10/08/2026 |
| GLW | Corning Inc | 219350105 | 296 | 163.25 | 0.05 | 0.11 | 10/08/2026 |
| COST | Costco Wholesale Corp | 22160K105 | 650 | 942.25 | 0.61 | 1.38 | 10/08/2026 |
| DHR | Danaher Corp | 235851102 | 125 | 218.49 | 0.03 | 0.06 | 10/08/2026 |
| DOV | Dover Corp | 260003108 | 2,067 | 188.29 | 0.39 | 0.88 | 10/08/2026 |
| EOG | EOG Resources Inc | 26875P101 | 3,126 | 144.21 | 0.45 | 1.02 | 10/08/2026 |
| XOM | ExxonMobil Holdings Corp | 30233Q108 | 4,162 | 164.05 | 0.68 | 1.54 | 10/08/2026 |
| FGXXX | First American Government Obligations Fund 12/01/2031 | 31846V336 | 291,907 | 100.00 | 0.29 | 0.66 | 10/08/2026 |
| FCX | Freeport-McMoRan Inc | 35671D857 | 3,537 | 71.86 | 0.25 | 0.57 | 10/08/2026 |
| GE | GE AEROSPACE | 369604301 | 2,196 | 303.62 | 0.67 | 1.51 | 10/08/2026 |
| GILD | Gilead Sciences Inc | 375558103 | 1,547 | 146.85 | 0.23 | 0.51 | 10/08/2026 |
| IEX | IDEX Corp | 45167R104 | 4,170 | 232.91 | 0.97 | 2.20 | 10/08/2026 |
| IVV | iShares Core S&P 500 ETF | 464287200 | 2,133 | 780.58 | 1.66 | 3.76 | 10/08/2026 |
| IYW | iShares U.S. Technology ETF | 464287721 | 3,863 | 271.51 | 1.05 | 2.37 | 10/08/2026 |
| JPM | JPMORGAN CHASE & CO. | 46625H100 | 3,770 | 329.58 | 1.24 | 2.81 | 10/08/2026 |
| KEYS | Keysight Technologies Inc | 49338L103 | 3,559 | 381.42 | 1.36 | 3.07 | 10/08/2026 |
| LRCX | Lam Research Corp | 512807306 | 70 | 329.51 | 0.02 | 0.05 | 10/08/2026 |
| LLY | Eli Lilly & Co | 532457108 | 411 | 1,188.72 | 0.49 | 1.10 | 10/08/2026 |
| MPC | Marathon Petroleum Corp | 56585A102 | 590 | 442.26 | 0.26 | 0.59 | 10/08/2026 |
| MA | Mastercard Inc | 57636Q104 | 214 | 570.06 | 0.12 | 0.28 | 10/08/2026 |
| MRK | Merck & Co Inc | 58933Y105 | 6,197 | 142.79 | 0.88 | 2.00 | 10/08/2026 |
| MSFT | Microsoft Corp | 594918104 | 2,853 | 529.76 | 1.51 | 3.42 | 10/08/2026 |
| MPWR | Monolithic Power Systems Inc | 609839105 | 640 | 1,425.98 | 0.91 | 2.06 | 10/08/2026 |
| NEM | Newmont Corp | 651639106 | 2,769 | 113.54 | 0.31 | 0.71 | 10/08/2026 |
| NVDA | NVIDIA Corp | 67066G104 | 11,935 | 237.47 | 2.83 | 6.41 | 10/08/2026 |
| PANW | Palo Alto Networks Inc | 697435105 | 1,936 | 405.57 | 0.79 | 1.77 | 10/08/2026 |
| PAYX | Paychex Inc | 704326107 | 748 | 101.55 | 0.08 | 0.17 | 10/08/2026 |
| PSA | Public Storage | 74460D109 | 2,209 | 281.99 | 0.62 | 1.41 | 10/08/2026 |
| PWR | Quanta Services Inc | 74762E102 | 89 | 701.07 | 0.06 | 0.14 | 10/08/2026 |
| RMD | ResMed Inc | 761152107 | 384 | 225.98 | 0.09 | 0.20 | 10/08/2026 |
| SPY | State Street SPDR S&P 500 ETF Trust | 78462F103 | 687 | 777.22 | 0.53 | 1.21 | 10/08/2026 |
| SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | 78464A409 | 3,380 | 126.28 | 0.43 | 0.96 | 10/08/2026 |
| BIL | State Street SPDR Bloomberg 1-3 Month T-Bill ETF | 78468R663 | 6,099 | 91.46 | 0.56 | 1.26 | 10/08/2026 |
| CRM | Salesforce Inc | 79466L302 | 4,666 | 224.56 | 1.05 | 2.37 | 10/08/2026 |
| SLB | SLB Ltd | 806857108 | 3,362 | 47.96 | 0.16 | 0.36 | 10/08/2026 |
| SRE | Sempra | 816851109 | 3,598 | 79.69 | 0.29 | 0.65 | 10/08/2026 |
| NOW | ServiceNow Inc | 81762P102 | 2,105 | 137.87 | 0.29 | 0.66 | 10/08/2026 |
| TJX | TJX Cos Inc/The | 872540109 | 4,717 | 138.80 | 0.65 | 1.48 | 10/08/2026 |
| TMUS | T-Mobile US Inc | 872590104 | 2,347 | 167.65 | 0.39 | 0.89 | 10/08/2026 |
| TTWO | Take-Two Interactive Software Inc | 874054109 | 219 | 204.01 | 0.04 | 0.10 | 10/08/2026 |
| TXN | Texas Instruments Inc | 882508104 | 158 | 288.98 | 0.05 | 0.10 | 10/08/2026 |
| TMO | Thermo Fisher Scientific Inc | 883556102 | 269 | 662.06 | 0.18 | 0.40 | 10/08/2026 |
| USB | US Bancorp | 902973304 | 627 | 56.17 | 0.04 | 0.08 | 10/08/2026 |
| VLO | Valero Energy Corp | 91913Y100 | 181 | 424.10 | 0.08 | 0.17 | 10/08/2026 |
| V | Visa Inc | 92826C839 | 1,878 | 372.10 | 0.70 | 1.58 | 10/08/2026 |
| WM | Waste Management Inc | 94106L109 | 522 | 208.94 | 0.11 | 0.25 | 10/08/2026 |
| WFC | Wells Fargo & Co | 949746101 | 1,978 | 80.26 | 0.16 | 0.36 | 10/08/2026 |
| WST | West Pharmaceutical Services Inc | 955306105 | 2,758 | 366.48 | 1.01 | 2.28 | 10/08/2026 |
| ZBRA | Zebra Technologies Corp | 989207105 | 3,324 | 386.05 | 1.28 | 2.90 | 10/08/2026 |
| Cash&Other | Cash & Other | 102,178 | 1.00 | 0.10 | 0.23 | 10/08/2026 | |
| ETN | Eaton Corp PLC | G29183103 | 1,200 | 431.33 | 0.52 | 1.17 | 10/08/2026 |
| NVT | nVent Electric PLC | G6700G107 | 77 | 167.82 | 0.01 | 0.03 | 10/08/2026 |
| TEL | TE Connectivity PLC | G87052109 | 85 | 215.83 | 0.02 | 0.04 | 10/08/2026 |
Holdings are subject to change