The Frontier Economic Fund

Investment Objectives

The Frontier Economic Fund seeks to track the performance of The Alaska Last Frontier Index, a rules-based strategy index designed by Vident to capture the economic footprint of companies with meaningful exposure to the State of Alaska. The Index identifies and emphasizes firms doing business in Alaska including natural resource utilization, economic development, operational presence, and participation in state-sponsored initiatives. By tracking this Index, the Fund aims to provide investors with targeted exposure to companies that contribute to and benefit from Alaska’s unique economic landscape, emphasizing those with the greatest alignment to the state’s growth and opportunity.

Fund Details

07/17/2026

Fund Details

AKAF

CUSIP

268961703

Net Assets

$2,831,090.74

Total Fund Annual Operating Expenses

0.20%

Inception Date

6/25/2025

Shares Outstanding

90,000.00

Distribution Frequency

Quarterly

30-Day SEC Yield (as of 06/30/2026)

1.32%

12 Month Distribution Yield

3.02%

Market Price

$31.49

NAV

$31.46

Premium/Discount

0.10%

30-Day Median Bid-Ask Spread

0.22%

Factors

TRUE TO ALASKA

A rules-based gateway to companies driving the economic engine of the 49th State.

ACCESS

A powerful tool for retail & institutional investors seeking Alaska exposure.

GROWTH POTENTIAL

Targets companies participating in long-term value creation in the state.

ALIGNMENT 

Supports Alaska’s economic vision and the companies helping to fulfill it.

Performance

index	Month End Performance (As of 06/30/2026)	AKAF Nav Returns	AKAF Market Price Returns
0	Cumulative
1	1 Month	-2.86%	-2.77%
2	3 Month	3.11%	2.91%
3	Year To Date	9.30%	9.27%
4	Since Inception*	29.52%	29.56%
5	Average Annual
6	1 Year	26.64%	26.22%
7	3 Year	0.00%	0.00%
8	5 Year	0.00%	0.00%
9	10 Year	0.00%	0.00%
10	Since Inception*	29.06%	29.10%

index	Quarter End Performance (As of 06/30/2026)	AKAF Nav Returns	AKAF Market Price Returns
0	Cumulative
1	Quarter	3.11%	2.91%
2	Year To Date	9.30%	9.27%
3	Since Inception*	29.52%	29.56%
4	Average Annual
5	1 Year	26.64%	26.22%
6	3 Year	0.00%	0.00%
7	5 Year	0.00%	0.00%
8	10 Year	0.00%	0.00%
9	Since Inception*	29.06%	29.10%

*Fund Inception Date: 6/25/2025

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Short term performance is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

ETF Holdings

As of DATE

index	Name	Ticker	CUSIP or Other Identifier	Weight	Shares
0	DoorDash Inc	DASH	25809K105	2.34%	360
1	ConocoPhillips	COP	20825C104	2.20%	544
2	United Parcel Service Inc	UPS	911312106	2.17%	522
3	Uber Technologies Inc	UBER	90353T100	2.16%	842
4	ExxonMobil Holdings Corp	XOM	30233Q108	2.10%	404
5	Royal Caribbean Cruises Ltd	RCL	V7780T103	1.93%	190
6	SLB Ltd	SLB	806857108	1.93%	1,160
7	Repsol SA	REP SM	5669354	1.81%	1,825
8	Delta Air Lines Inc	DAL	247361702	1.72%	580
9	FedEx Corp	FDX	31428X106	1.72%	156
10	Santos Ltd	STO AU	6776703	1.55%	8,205
11	XPO Inc	XPO	983793100	1.50%	197
12	Nippon Yusen KK	9101 JP	6643960	1.49%	1,200
13	DSV A/S	DSV DC	B1WT5G2	1.46%	159
14	United Airlines Holdings Inc	UAL	910047109	1.46%	357
15	Halliburton Co	HAL	406216101	1.39%	1,121
16	Teck Resources Ltd	TECK	878742204	1.30%	671
17	Baker Hughes Co	BKR	05722G100	1.23%	620
18	South32 Ltd	S32 AU	BWSW5D9	1.19%	12,389
19	Carnival Corp Ltd	CCL	G2004J103	1.18%	1,269
20	Pantheon Resources PLC	PANR LN	B125SX8	1.14%	175,330
21	ArcBest Corp	ARCB	03937C105	1.13%	200
22	CVS Health Corp	CVS	126650100	1.03%	271
23	Cisco Systems Inc	CSCO	17275R102	1.02%	257
24	Matson Inc	MATX	57686G105	0.95%	121
25	TFI INTERNATIONAL INC	TFII CN	BDRXBF4	0.95%	173
26	Northern Star Resources Ltd	NST AU	6717456	0.91%	1,911
27	Kinross Gold Corp	K CN	B03Z841	0.89%	1,112
28	Apple Inc	AAPL	037833100	0.87%	74
29	APA Corp	APA	03743Q108	0.87%	701
30	Ryder System Inc	R	783549108	0.85%	89
31	Amazon.com Inc	AMZN	023135106	0.84%	96
32	Hecla Mining Co	HL	422704106	0.84%	1,667
33	COEUR MINING INC.	CDE	192108504	0.82%	1,619
34	American Airlines Group Inc	AAL	02376R102	0.81%	1,525
35	Alphabet Inc	GOOGL	02079K305	0.80%	65
36	Air Canada	AC CN	BSDHYK1	0.78%	1,362
37	Kirby Corp	KEX	497266106	0.78%	153
38	Quanta Services Inc	PWR	74762E102	0.78%	35
39	Starbucks Corp	SBUX	855244109	0.78%	208
40	Kawasaki Kisen Kaisha Ltd	9107 JP	6484686	0.77%	1,300
41	General Dynamics Corp	GD	369550108	0.76%	58
42	Marriott International Inc/MD	MAR	571903202	0.76%	59
43	Northern Dynasty Minerals Ltd	NAK	66510M204	0.75%	12,963
44	Nabors Industries Ltd	NBR	G6359F137	0.75%	254
45	Hilton Worldwide Holdings Inc	HLT	43300A203	0.74%	65
46	Wells Fargo & Co	WFC	949746101	0.74%	238
47	GE AEROSPACE	GE	369604301	0.73%	59
48	Trane Technologies PLC	TT	G8994E103	0.73%	44
49	Coca-Cola Co/The	KO	191216100	0.72%	249
50	Marsh & McLennan Cos Inc	MRSH	571748102	0.72%	112
51	Microsoft Corp	MSFT	594918104	0.71%	51
52	Costco Wholesale Corp	COST	22160K105	0.70%	21
53	ANA Holdings Inc	9202 JP	6014908	0.66%	1,000
54	Emerson Electric Co	EMR	291011104	0.66%	133
55	General Motors Co	GM	37045V100	0.66%	246
56	International Business Machines Corp	IBM	459200101	0.66%	88
57	Expro Ltd	XPRO	G3314M109	0.66%	1,131
58	Cathay Pacific Airways Ltd	293 HK	6179755	0.65%	11,000
59	Boeing Co/The	BA	097023105	0.65%	86
60	Walt Disney Co/The	DIS	254687106	0.65%	189
61	Best Buy Co Inc	BBY	086516101	0.64%	213
62	O'Reilly Automotive Inc	ORLY	67103H107	0.64%	212
63	Sherwin-Williams Co/The	SHW	824348106	0.64%	55
64	SkyWest Inc	SKYW	830879102	0.64%	187
65	Walmart Inc	WMT	931142103	0.64%	159
66	Home Depot Inc/The	HD	437076102	0.63%	53
67	McKesson Corp	MCK	58155Q103	0.62%	21
68	Verizon Communications Inc	VZ	92343V104	0.62%	403
69	Alaska Air Group Inc	ALK	011659109	0.61%	381
70	Oracle Corp	ORCL	68389X105	0.61%	137
71	WW Grainger Inc	GWW	384802104	0.59%	12
72	McDonald's Corp	MCD	580135101	0.58%	61
73	Norwegian Cruise Line Holdings Ltd	NCLH	G66721104	0.58%	837
74	PepsiCo Inc	PEP	713448108	0.58%	119
75	Target Corp	TGT	87612E106	0.57%	116
76	Lockheed Martin Corp	LMT	539830109	0.56%	31
77	Airbnb Inc	ABNB	009066101	0.55%	107
78	United Rentals Inc	URI	911363109	0.55%	15
79	MasTec Inc	MTZ	576323109	0.54%	46
80	KeyCorp	KEY	493267108	0.53%	637
81	Lowe's Cos Inc	LOW	548661107	0.53%	72
82	Weatherford International PLC	WFRD	G48833118	0.53%	187
83	Ameriprise Financial Inc	AMP	03076C106	0.52%	28
84	Northrop Grumman Corp	NOC	666807102	0.52%	28
85	HCA Healthcare Inc	HCA	40412C101	0.51%	39
86	Waste Connections Inc	WCN CN	BYQFRK5	0.49%	80
87	Republic Services Inc	RSG	760759100	0.48%	61
88	Ford Motor Co	F	345370860	0.47%	942
89	Labcorp Holdings Inc	LH	504922105	0.47%	47
90	Trilogy Metals Inc	TMQ	89621C105	0.47%	4,499
91	Core Laboratories Inc	CLB	21867A105	0.46%	1,142
92	Fastenal Co	FAST	311900104	0.46%	289
93	Iridium Communications Inc	IRDM	46269C102	0.46%	280
94	Jacobs Solutions Inc	J	46982L108	0.46%	99
95	Darden Restaurants Inc	DRI	237194105	0.44%	63
96	Ferguson Enterprises Inc	FERG	31488V107	0.43%	52
97	Sysco Corp	SYY	871829107	0.43%	149
98	Fedex Freight Holding Co Inc	FDXF	314352105	0.42%	78
99	Motorola Solutions Inc	MSI	620076307	0.42%	29
100	Yum! Brands Inc	YUM	988498101	0.42%	81
101	Booz Allen Hamilton Holding Corp	BAH	099502106	0.41%	176
102	Kroger Co/The	KR	501044101	0.40%	192
103	Contango Silver & Gold Inc	CTGO	21077F100	0.39%	683
104	Constellation Brands Inc	STZ	21036P108	0.39%	84
105	L3Harris Technologies Inc	LHX	502431109	0.38%	38
106	WSP Global Inc	WSP CN	BHR3R21	0.38%	84
107	Domino's Pizza Inc	DPZ	25754A201	0.36%	32
108	Viasat Inc	VSAT	92552V100	0.35%	140
109	AECOM	ACM	00766T100	0.34%	140
110	GoldMining Inc	GLDG	38149E101	0.34%	11,526
111	Pursuit Attractions and Hospitality Inc	PRSU	92552R406	0.34%	183
112	ULTA BEAUTY INC	ULTA	90384S303	0.34%	20
113	Honeywell International Inc	HON	438516205	0.33%	42
114	H&R Block Inc	HRB	093671105	0.33%	223
115	U-Haul Holding Co	UHAL	023586100	0.33%	131
116	AutoZone Inc	AZO	053332102	0.32%	3
117	Builders FirstSource Inc	BLDR	12008R107	0.32%	121
118	Harley-Davidson Inc	HOG	412822108	0.32%	343
119	Honeywell Aerospace Inc	HONA	43849R105	0.31%	41
120	Novagold Resources Inc	NG	66987E206	0.31%	1,718
121	Globalstar Inc	GSAT	378973507	0.30%	107
122	Lululemon Athletica Inc	LULU	550021109	0.30%	74
123	Leidos Holdings Inc	LDOS	525327102	0.29%	77
124	Lithia Motors Inc	LAD	536797103	0.27%	23
125	Northrim BanCorp Inc	NRIM	666762109	0.27%	273
126	Yamaha Motor Co Ltd	7272 JP	6985264	0.25%	900
127	Major Drilling Group International Inc	MDI CN	2557515	0.25%	698
128	Choice Hotels International Inc	CHH	169905106	0.24%	61
129	First American Government Obligations Fund 12/01/2031	FGXXX	31846V336	0.23%	6,516
130	Tetra Tech Inc	TTEK	88162G103	0.23%	203
131	GameStop Corp	GME	36467W109	0.22%	282
132	Knife River Corp	KNF	498894104	0.22%	76
133	North West Co Inc/The	NWC CN	BZ3FZR8	0.21%	164
134	Albertsons Cos Inc	ACI	013091103	0.19%	359
135	Buckle Inc/The	BKE	118440106	0.19%	124
136	Canada Goose Holdings Inc	GOOS CN	BF0B2F6	0.19%	538
137	Stantec Inc	STN CN	2854238	0.19%	76
138	Worley Ltd	WOR AU	6562474	0.19%	720
139	Universal Health Services Inc	UHS	913903100	0.16%	30
140	Liberty Capital Corp	GLIBK	36164V800	0.13%	171
141	Nova Minerals Corp	NVA AU	BYW3ZW1	0.12%	9,448
142	Silver47 Exploration Corp	AGA CN	BT6MDS1	0.11%	7,658
143	Freegold Ltd	FVL CN	BXM1HJ9	0.10%	4,322
144	Hertz Global Holdings Inc	HTZ	42806J700	0.09%	1,480
145	Bridger Aerospace Group Holdings Inc	BAER	96812F102	0.08%	1,135
146	Felix Gold Ltd	FXG AU	BNM4KH7	0.08%	14,276
147	Cash & Other	Cash&Other	Cash&Other	0.07%	1,950
148	Graphite One Inc	GPH CN	BJ9N154	0.04%	1,885
149	Vizsla Copper Corp	VCU CN	BVLJ6W6	0.02%	668
150	CANADIAN DOLLAR	CAD	CASHCAD	0.00%	23
151	JAPANESE YEN	JPY	CASHJPY	0.00%	90
152	EURO	EUR	CASHEUR	-0.03%	-815

ETF holdings and allocations are subject to change and should not be considered a recommendation to buy or sell any security.

index		Calendar Year 2025	First Quarter 2026	Second Quarter 2026	Third Quarter 2026
0	Days traded at premium	104	34	36	3
1	Days traded at NAV	8	3	1	2
2	Days traded at discount	20	24	25	7

Sector Breakdown

As of DATE

index	Name	Weight
0	Industrials	35.11%
1	Consumer Discretionary	17.53%
2	Energy	16.86%
3	Materials	12.04%
4	Information Technology	5.35%
5	Consumer Staples	4.65%
6	Communication Services	3.08%
7	Health Care	2.44%
8	Financials	2.36%
9	Money Market Fund	0.58%

index	Ex-Dividend Date	Income
0	06/16/2026	0.266744550
1	03/17/2026	0.028357780
2	12/17/2025	0.65612223

The Frontier Economic Fund

Investment Objectives

Fund Details

Fund Details

AKAF

CUSIP

268961703

Net Assets

$2,831,090.74

Total Fund Annual Operating Expenses

0.20%

Inception Date

6/25/2025

Shares Outstanding

90,000.00

Distribution Frequency

Quarterly

30-Day SEC Yield (as of 06/30/2026)

1.32%

12 Month Distribution Yield

3.02%

Market Price

$31.49

NAV

$31.46

Premium/Discount

0.10%

30-Day Median Bid-Ask Spread

0.22%

Factors

Performance

ETF Holdings

Premium Discount Chart - {{ fundTicker }}

Sector Breakdown

Fund Literature

Fund Literature

The Frontier Economic Fund

Investment Objectives

Fund Details

Fund Details

AKAF

CUSIP

268961703

Net Assets

$2,831,090.74

Total Fund Annual Operating Expenses

0.20%

Inception Date

6/25/2025

Shares Outstanding

90,000.00

Distribution Frequency

Quarterly

30-Day SEC Yield (as of 06/30/2026)

1.32%

12 Month Distribution Yield

3.02%

Market Price

$31.49

NAV

$31.46

Premium/Discount

0.10%

30-Day Median Bid-Ask Spread

0.22%

Factors

Performance

ETF Holdings

Sector Breakdown

Fund Literature

Fund Literature

Distribution History