M.D. Sass Concentrated Value ETF

M.D. Sass Concentrated Value ETF is an actively managed exchange-traded fund that seeks long-term capital appreciation through a high-conviction, opportunistic U.S. equity strategy. It maintains a focused portfolio of approximately 20 to 25 predominantly large- and mid-cap stocks, targeting out-of-favor or misunderstood investment situations where market perception lags underlying reality. The fund employs intensive bottoms-up fundamental research to identify companies with strong long-term fundamentals, financial quality, and forecastable business models, particularly those undergoing positive fundamental changes like inflecting trends, improving industry structures, or favorable management shifts. Emphasizing an earnings-centric approach over strict valuation metrics, it prioritizes stocks where anticipated earnings potential exceeds consensus expectations, ensuring a margin of safety and diversified risk exposures despite concentration. Position sizes are disciplined, with minimums around 2% and maximums at 8%, supported by quarterly risk reviews and a focus on intellectual honesty and process adherence. This ETF provides investors access to M.D. Sass's differentiated Concentrated Value approach, aiming to outperform broad value benchmarks through conviction-driven stock selection in the U.S. equity markets.