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LLC","launch_date":"2022-04-22","launch_aum":76.4,"launch_aum_pending_ncsr":false,"contribution_date":"2022-04-22","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":27.26,"embedded_gains":49.1,"expense_ratio":0.71,"gross_expense_ratio":0.71,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"497K filing contains no Section 351 language -- source is insufficient. Classification inferred from FMCE N-CSRS (same adviser, First Manhattan Co.) which states \"FMCE was seeded through the exchange of ETF shares for the securities held by various separately managed accounts.\" FMCX N-CSR not yet located.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225004024/nlivfmfocusetf_497k.htm","secondary_source_quote":"FMCX N-CSR (search snippet, direct fetch blocked; verify manually): \"The Fund was seeded through the exchange of ETF shares for the securities held by various separately managed accounts (SMAs) on April 22, 2022. The transactions were structured as tax-free exchanges of shares.\"","secondary_source_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064224002637/fmc_ncsr.htm","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind seeding, cost basis $49.1M vs MV $76.4M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","sec_ncsr_search_term":"In-Kind Seeding","sec_prospectus_result":"Prospectus states initial seeding through Section 351 exchanges","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225004024/nlivfmfocusetf_497k.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"yes","cap_gains_detail":"Distributed cap gains every year: $0.24/sh (FY2023), $0.24/sh (FY2024), $0.58/sh (FY2025). Root cause: Precidian ActiveShares semi-transparent structure requires pro-rata baskets, blocking selective in-kind redemption of high-gain lots. Combined with 58% portfolio turnover in concentrated 31-33 stock portfolio. Structurally disadvantaged for tax efficiency vs transparent ETFs.","evidence":[{"img":"evidence/FMCX/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/transferor.webp","caption":"Who contributed the seed assets, in the filing's words","backs":"transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225004024/nlivfmfocusetf_497k.htm","form":"497K","accession":"0001580642-25-004024","filed":"2025-07-03","sha256":"9bc2171e1a96956f"},{"img":"evidence/FMCX/providers.webp","caption":"The service providers of record","backs":"distributor, custodian","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064223002605/fmc_ncsr.htm","form":"N-CSR","accession":"0001580642-23-002605","filed":"2023-05-08","sha256":"5d1a04dfab3ef60f"},{"img":"evidence/FMCX/distributions.webp","caption":"Capital gains actually distributed to shareholders","backs":"distributions, cap_gains_distributed","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225003022/fm-etf_ncsr.htm","form":"N-CSR","accession":"0001580642-25-003022","filed":"2025-05-08","sha256":"bb5312f2269dd1a8"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Northern Lights Fund Trust IV","distributor":"Northern Lights Distributors, LLC","custodian":"State Street Bank and Trust Co.","auditor":"Cohen & Company, Ltd.","fund_counsel":"Thompson Hine LLP","latest_aum":119.2,"latest_aum_date":"2026-09-16","aum_change":42.8,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2023-02-28","oi":0.03,"st":0.0,"lt":0.24,"roc":0.0,"total":0.27},{"fy":"2024-02-29","oi":0.12,"st":0.0,"lt":0.24,"roc":0.0,"total":0.36},{"fy":"2025-02-28","oi":0.08,"st":0.0,"lt":0.58,"roc":0.0,"total":0.66}],"has_351_evidence":true},{"ticker":"AMID","fund_name":"Argent Mid Cap ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Argent Capital Management, LLC)","launch_date":"2022-08-16","launch_aum":16.35,"launch_aum_pending_ncsr":false,"contribution_date":"2022-08-16","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":12.69,"embedded_gains":3.7,"expense_ratio":0.79,"gross_expense_ratio":0.79,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"As part of AMID's commencement of operations on August 16, 2022, AMID received an in-kind contribution from accounts managed by the Sub-Adviser.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003806/ck0001592900-20260531.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from sub-adviser accounts, cost basis $12.7M vs MV $16.4M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001283/ck0001592900-20240531.htm","sec_ncsr_search_term":"non-taxable transaction","sec_prospectus_result":"SAI references Section 351","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003085/argentmidcapetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/AMID/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001283/ck0001592900-20240531.htm","form":"N-CSR","accession":"0001592900-24-001283","filed":"2024-08-08","sha256":"6f26b414d0a7d994"},{"img":"evidence/AMID/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001283/ck0001592900-20240531.htm","form":"N-CSR","accession":"0001592900-24-001283","filed":"2024-08-08","sha256":"6f26b414d0a7d994"},{"img":"evidence/AMID/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001283/ck0001592900-20240531.htm","form":"N-CSR","accession":"0001592900-24-001283","filed":"2024-08-08","sha256":"6f26b414d0a7d994"},{"img":"evidence/AMID/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001283/ck0001592900-20240531.htm","form":"N-CSR","accession":"0001592900-24-001283","filed":"2024-08-08","sha256":"6f26b414d0a7d994"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":115.5,"latest_aum_date":"2026-09-16","aum_change":99.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2023-05-31","oi":0.06,"st":0.0,"lt":0.0,"roc":0.0,"total":0.06},{"fy":"2024-05-31","oi":0.13,"st":0.0,"lt":0.0,"roc":0.0,"total":0.13},{"fy":"2025-05-31","oi":0.11,"st":0.0,"lt":0.0,"roc":0.0,"total":0.11}],"has_351_evidence":true},{"ticker":"BRNY","fund_name":"Burney U.S. Factor Rotation ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: The Burney Company)","launch_date":"2022-10-14","launch_aum":121.0,"launch_aum_pending_ncsr":false,"contribution_date":"2022-10-14","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":86.92,"embedded_gains":34.1,"expense_ratio":0.79,"gross_expense_ratio":0.79,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $120,996,881 of securities which were recorded at their current value... the transaction was determined to be a non-taxable transaction by management, the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of October 14, 2022, was $86,916,004.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","secondary_source_quote":"PRNewswire (Burney 3-yr anniversary, Oct 2025): \"The 351 exchange worked well for our clients during the BRNY launch, and we're excited to offer this opportunity again.\" - Lowell Pratt, President, The Burney Company.","secondary_source_link":"https://www.prnewswire.com/news-releases/burney-company-celebrates-3-year-anniversary-of-brny-etf-and-announces-launch-of-second-etf-302611579.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":"N-CSR shows non-standard pattern: no in-kind contribution note, minimal tax/book gap","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000182912623006516/easeries-brny_ncsr.htm","sec_ncsr_search_term":"in-kind","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"BRES press release references BRNY 351 structure","news_marketing_link":"https://www.prnewswire.com/news-releases/burney-company-launches-second-etf-burney-us-equity-select-etf-bres-302677929.html","news_marketing_search_term":"BRNY","cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since Oct 2022 launch. Small return of capital only.","evidence":[{"img":"evidence/BRNY/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","form":"N-CSRS","accession":"0001592900-24-000619","filed":"2024-04-05","sha256":"6663d12a9297d32e"},{"img":"evidence/BRNY/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","form":"N-CSRS","accession":"0001592900-24-000619","filed":"2024-04-05","sha256":"6663d12a9297d32e"},{"img":"evidence/BRNY/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","form":"N-CSRS","accession":"0001592900-24-000619","filed":"2024-04-05","sha256":"6663d12a9297d32e"},{"img":"evidence/BRNY/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","form":"N-CSRS","accession":"0001592900-24-000619","filed":"2024-04-05","sha256":"6663d12a9297d32e"},{"img":"evidence/BRNY/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004075/burneyusfactorrotationetf.htm","form":"497K","accession":"0001592900-25-004075","filed":"2025-12-01","sha256":"d25568d8fdfff0dc"},{"img":"evidence/BRNY/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000619/brny_sarx01312024.htm","form":"N-CSRS","accession":"0001592900-24-000619","filed":"2024-04-05","sha256":"6663d12a9297d32e"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":611.2,"latest_aum_date":"2026-09-16","aum_change":490.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2023-07-31","oi":0.2,"st":0.0,"lt":0.0,"roc":0.0,"total":0.2},{"fy":"2024-07-31","oi":0.15,"st":0.0,"lt":0.0,"roc":0.02,"total":0.17},{"fy":"2025-07-31","oi":0.1,"st":0.0,"lt":0.0,"roc":0.0,"total":0.1}],"has_351_evidence":true},{"ticker":"EQTY","fund_name":"Kovitz Core Equity ETF","adviser":"Kovitz Investment Group Partners, LLC","launch_date":"2022-12-09","launch_aum":537.17,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":442.45,"embedded_gains":94.7,"expense_ratio":0.99,"gross_expense_ratio":0.99,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR + Ultimus press: \"Section 351 diversification testing on each of ~400 SMA accounts\" (Kovitz) = multi-same-RIA for 351 portion. MF conversions (Green Owl GOWLX + Marathon Value MVPFX) via \u00a7368 reorganization are separate. Seed AUM and cost basis reflect 351 portion only. RECODED 2026-08-30 from 'hybrid' to 'multi-same-ria'. The row measures the Section 351 leg only, and that leg is plural accounts under ONE adviser, which is multi-same-ria on this project's own definition. 'hybrid' means mixed sources inside a single contribution and here it was describing the SEPARATE 368 mutual fund conversion, which this row does not measure. TCV has the identical two-leg structure and was already coded multi-same-ria, so four structurally identical funds were coded two ways. AQEC remains the one genuine hybrid: contributions in-kind from two private funds AND client accounts of a trust affiliate, mixed sources in one contribution. Found by audit 2026-08-30.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","secondary_source_quote":"GlobeNewswire (Ultimus, Jan 2023): \"The merger involved two existing mutual funds managed by Kovitz, the Marathon Value Portfolio and the Green Owl Intrinsic Value Fund, as well as assets from over 400 SMAs.\" PRNewswire (Kovitz Dec 2022): \"converted its existing mutual funds... into the new ETF along with over $500 million of assets from separately managed accounts.\"","secondary_source_link":"https://www.globenewswire.com/news-release/2023/01/24/2594526/0/en/Ultimus-Helps-Kovitz-Launch-ETF-with-Assets-from-Two-Mutual-Funds-and-Numerous-SMAs.html","dominant_contributor_over_50pct":"unknown","sec_ncsr_result":"Confirmed: N-CSR separates 351 SMA portion ($537M) from MF conversions ($105M)","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"yes","cap_gains_detail":"Paid realized gains of $0.59, $4.19 and $1.80 per share in the fiscal years ended 2021-10-31, 2022-10-31 and 2023-10-31, from the Financial Highlights in the N-CSR filed 2026-01-05. Those years precede the 2022-12-09 ETF launch and belong to the predecessor mutual funds that converted in; see conversion_flag. FY2024 and FY2025 paid ordinary income, plus $0.01 of return of capital in FY2025, and no capital gains.","evidence":[{"img":"evidence/EQTY/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","form":"N-CSR","accession":"0001580642-24-000114","filed":"2024-01-08","sha256":"d4b763faba40f608"},{"img":"evidence/EQTY/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","form":"N-CSR","accession":"0001580642-24-000114","filed":"2024-01-05","sha256":"d4b763faba40f608"},{"img":"evidence/EQTY/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","form":"N-CSR","accession":"0001580642-24-000114","filed":"2024-01-05","sha256":"d4b763faba40f608"},{"img":"evidence/EQTY/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1437249/000158064223001268/kovitz_497k.htm","form":"497K","accession":"0001580642-23-001268","filed":"2023-03-06","sha256":"c943ecc86d5eb231"},{"img":"evidence/EQTY/distributions.webp","caption":"Capital gains actually distributed to shareholders","backs":"distributions, cap_gains_distributed","url":"https://www.sec.gov/Archives/edgar/data/1437249/000158064224000114/vat_ncsr.htm","form":"N-CSR","accession":"0001580642-24-000114","filed":"2024-01-05","sha256":"d4b763faba40f608"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Valued Advisers Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":"Vedder Price P.C.","latest_aum":1456.1,"latest_aum_date":"2026-09-16","aum_change":918.9,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2021-10-31","oi":0.0,"st":0.0,"lt":0.59,"roc":0.0,"total":0.59},{"fy":"2022-10-31","oi":0.0,"st":0.0,"lt":4.19,"roc":0.0,"total":4.19},{"fy":"2023-10-31","oi":0.01,"st":0.0,"lt":1.8,"roc":0.0,"total":1.81},{"fy":"2024-10-31","oi":0.05,"st":0.0,"lt":0.0,"roc":0.0,"total":0.05},{"fy":"2025-10-31","oi":0.08,"st":0.0,"lt":0.0,"roc":0.01,"total":0.09}],"has_351_evidence":true},{"ticker":"SURI","fund_name":"Simplify Propel Opportunities ETF","adviser":"Simplify Asset Management Inc. (sub-adviser: Propel Bio Management, LLC)","launch_date":"2023-02-08","launch_aum":71.25,"launch_aum_pending_ncsr":false,"contribution_date":"2023-02-07","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":60.29,"embedded_gains":11.0,"expense_ratio":2.51,"gross_expense_ratio":2.76,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"single","transferor_type_confidence":"high","transferor_type_quote":"The contributor of assets was the Richard and Suzanne Kayne Living Trust.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1810747/000182912625000176/filename1.htm","secondary_source_quote":"Bloomberg Big Take 2026-07-21: Kayne contributed about $109 million of stocks via a 351 conversion, including about $24 million of Plains All American publicly traded partnership units. Schedule of investments 2023-06-30 confirms Plains All American Pipeline LP $9,165,000 plus Plains GP Holdings LP $15,498,788.","secondary_source_link":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","dominant_contributor_over_50pct":null,"sec_ncsr_result":"Note 10 In-Kind Seeding, two contributions with carryover basis","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","sec_ncsr_search_term":"In-Kind Seeding","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/SURI/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","form":"N-CSR","accession":"0001829126-23-005932","filed":"2023-09-06","sha256":"1bfcdbd2701f0624"},{"img":"evidence/SURI/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","form":"N-CSR","accession":"0001829126-23-005932","filed":"2023-09-06","sha256":"1bfcdbd2701f0624"},{"img":"evidence/SURI/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","form":"N-CSR","accession":"0001829126-23-005932","filed":"2023-09-06","sha256":"1bfcdbd2701f0624"},{"img":"evidence/SURI/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623005932/simplifyetf_ncsr.htm","form":"N-CSR","accession":"0001829126-23-005932","filed":"2023-09-06","sha256":"1bfcdbd2701f0624"},{"img":"evidence/SURI/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1810747/000182912623006994/simplify-suri_497k.htm","form":"497K","accession":"0001829126-23-006994","filed":"2023-11-01","sha256":"4de1eb992eb828c0"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 06/30; 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first N-CSRS covering launch (period 2023-09-30) expected ~Dec 2023","fund_trust":"EA Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":131.3,"latest_aum_date":"2026-09-16","aum_change":-3.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"RUNN","fund_name":"Running Oak Efficient Growth ETF","adviser":"Running Oak Capital, LLC","launch_date":"2023-06-07","launch_aum":2.04,"launch_aum_pending_ncsr":false,"contribution_date":"2023-06-07","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":1.91,"embedded_gains":0.1,"expense_ratio":0.58,"gross_expense_ratio":0.58,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"certain securities of accounts managed by the Adviser were exchanged, at fair value, as in-kind transfers to the Running Oak Efficient Growth ETF","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: accounts managed by the Adviser contributed $2,038,436 at fair value, historical cost $1,911,592 carried forward","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/RUNN/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","form":"N-CSR","accession":"0001398344-23-020266","filed":"2023-11-08","sha256":"4b1fe7e109efea78"},{"img":"evidence/RUNN/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","form":"N-CSR","accession":"0001398344-23-020266","filed":"2023-11-08","sha256":"4b1fe7e109efea78"},{"img":"evidence/RUNN/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","form":"N-CSR","accession":"0001398344-23-020266","filed":"2023-11-08","sha256":"4b1fe7e109efea78"},{"img":"evidence/RUNN/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1873280/000139834423020266/fp0085292-3_ncsr.htm","form":"N-CSR","accession":"0001398344-23-020266","filed":"2023-11-08","sha256":"4b1fe7e109efea78"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 08/31; 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The prior period paid ordinary income only.","evidence":[{"img":"evidence/HF/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1924868/000199937124013066/dga-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-013066","filed":"2024-10-07","sha256":"89137327e40bf498"},{"img":"evidence/HF/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1924868/000199937124013066/dga-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-013066","filed":"2024-10-07","sha256":"89137327e40bf498"},{"img":"evidence/HF/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1924868/000199937124013066/dga-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-013066","filed":"2024-10-07","sha256":"89137327e40bf498"},{"img":"evidence/HF/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1924868/000199937124013066/dga-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-013066","filed":"2024-10-07","sha256":"89137327e40bf498"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Tidal Trust II","distributor":"Foreside Fund Services LLC","custodian":"U.S. Bank N.A.","auditor":"Cohen & Company Ltd.","fund_counsel":"Sullivan & Worcester LLP","latest_aum":21.0,"latest_aum_date":"2026-09-16","aum_change":16.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-07-31","oi":0.51,"st":0.0,"lt":0.0,"roc":0.0,"total":0.51},{"fy":"2025-07-31","oi":2.25,"st":0.0,"lt":0.03,"roc":0.0,"total":2.28}],"has_351_evidence":true},{"ticker":"LGRO","fund_name":"Level Four Large Cap Growth Active ETF","adviser":"ALPS Advisors, Inc. 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The cost of the contributed securities as of September 14, 2023, was $159,575,574.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","secondary_source_quote":"Wealthmanagement.com: \"launched with around $200 million of existing assets converted from its separately managed accounts.\" John Beatson, Co-CIO: \"First and foremost, we want to do this to benefit our current clients. It's on average pretty clear, at least with respect to US equities, what the most advantageous structure is for taxable dollars.\"","secondary_source_link":"https://www.wealthmanagement.com/etfs/elite-wall-street-firms-are-surrendering-7t-etf-boom","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from sub-adviser accounts, cost basis $159.6M vs MV $223.6M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","sec_ncsr_search_term":"in-kind contribution from accounts managed by the Sub-Adviser","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since Sep 2023 launch.","evidence":[{"img":"evidence/SMRI/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","form":"N-CSRS","accession":"0001592900-24-000620","filed":"2024-04-05","sha256":"296ce483aca951e4"},{"img":"evidence/SMRI/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003741/ck0001592900-20251120.htm","form":"485BPOS","accession":"0001592900-25-003741","filed":"2025-11-20","sha256":"787d7fefe63f6bce"},{"img":"evidence/SMRI/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","form":"N-CSRS","accession":"0001592900-24-000620","filed":"2024-04-05","sha256":"296ce483aca951e4"},{"img":"evidence/SMRI/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","form":"N-CSRS","accession":"0001592900-24-000620","filed":"2024-04-05","sha256":"296ce483aca951e4"},{"img":"evidence/SMRI/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004079/bushidocapitalusequityetf.htm","form":"497K","accession":"0001592900-25-004079","filed":"2025-12-01","sha256":"4dd4ff1fb7495c43"},{"img":"evidence/SMRI/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024000620/smri_sarx013124.htm","form":"N-CSRS","accession":"0001592900-24-000620","filed":"2024-04-05","sha256":"296ce483aca951e4"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":722.0,"latest_aum_date":"2026-09-16","aum_change":498.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-07-31","oi":0.12,"st":0.0,"lt":0.0,"roc":0.0,"total":0.12},{"fy":"2025-07-31","oi":0.5,"st":0.0,"lt":0.0,"roc":0.0,"total":0.5}],"has_351_evidence":true},{"ticker":"BGIG","fund_name":"Bahl & Gaynor Income Growth ETF","adviser":"Bahl & Gaynor, Inc.","launch_date":"2023-09-14","launch_aum":105.08,"launch_aum_pending_ncsr":false,"contribution_date":"2023-09-14","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":69.87,"embedded_gains":35.2,"expense_ratio":0.45,"gross_expense_ratio":0.45,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"accounts managed by the Adviser\" (Bahl & Gaynor Inc.) - plural SMA clients","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","secondary_source_quote":"ETF Express (Apr 2026): \"2023 saw the firm launch an ETF version of the Income Growth strategy, BGIG, with USD100 million in assets achieved through a 351 exchange which enables investors to transition securities into a diversified ETF without triggering immediate capital gains tax.\"","secondary_source_link":"https://etfexpress.com/2026/04/17/dividend-focused-firm-chooses-etf-vehicle/","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by the Adviser","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/BGIG/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","form":"N-CSR","accession":"0001398344-24-005778","filed":"2024-03-11","sha256":"921d076a3badd8c5"},{"img":"evidence/BGIG/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","form":"N-CSR","accession":"0001398344-24-005778","filed":"2024-03-11","sha256":"921d076a3badd8c5"},{"img":"evidence/BGIG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","form":"N-CSR","accession":"0001398344-24-005778","filed":"2024-03-11","sha256":"921d076a3badd8c5"},{"img":"evidence/BGIG/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1540305/000139834424005778/fp0086906-3_ncsr.htm","form":"N-CSR","accession":"0001398344-24-005778","filed":"2024-03-11","sha256":"921d076a3badd8c5"},{"img":"evidence/BGIG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1540305/000089418925003117/bahlgaynorincomegrowthetfb.htm","form":"497K","accession":"0000894189-25-003117","filed":"2025-04-30","sha256":"b3a7705599dcb460"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"ETF Series Solutions","distributor":"Quasar Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Cohen & Company Ltd.","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":2221.2,"latest_aum_date":"2026-09-16","aum_change":2116.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2023-12-31","oi":0.2,"st":0.0,"lt":0.0,"roc":0.0,"total":0.2},{"fy":"2024-12-31","oi":0.59,"st":0.0,"lt":0.0,"roc":0.0,"total":0.59},{"fy":"2025-12-31","oi":0.61,"st":0.0,"lt":0.0,"roc":0.0,"total":0.61}],"has_351_evidence":true},{"ticker":"SOVF","fund_name":"Sovereign's Capital Flourish Fund","adviser":"Sovereign's Capital Management, LLC","launch_date":"2023-09-29","launch_aum":5.28,"launch_aum_pending_ncsr":false,"contribution_date":"2023-09-29","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":4.68,"embedded_gains":0.6,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"single","transferor_type_confidence":"low","transferor_type_quote":"N-CSR: \"The Fund was seeded through the exchange of ETF shares for securities held by a revocable trust and a limited liability company (the Transferors) on September 29, 2023. The transactions were structured as tax-free exchanges of shares.\" LABEL CONTRADICTED BY THIS QUOTE, flagged 2026-08-31: the filing names\n \"a revocable trust AND a limited liability company (the Transferors)\", two entities and a plural\n noun, while transferor_type reads single at high confidence. The correct value is not obvious\n from the taxonomy: a revocable trust is a private wealth holder, which CLAUDE.md treats as single\n for a family office, while an LLC is a pooled vehicle. Confidence is dropped to low and the label\n left as found rather than guessed. Resolve before using this row in a single-versus-multi split.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937124012829/sovf-ncsr_073124.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: tax-free exchange from revocable trust and LLC","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937124012829/sovf-ncsr_073124.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/SOVF/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937124012829/sovf-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-012829","filed":"2024-10-02","sha256":"3689b9f053a12f25"},{"img":"evidence/SOVF/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937124012829/sovf-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-012829","filed":"2024-10-02","sha256":"3689b9f053a12f25"},{"img":"evidence/SOVF/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937124012829/sovf-ncsr_073124.htm","form":"N-CSR","accession":"0001999371-24-012829","filed":"2024-10-02","sha256":"3689b9f053a12f25"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Elevation Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":90.4,"latest_aum_date":"2026-09-16","aum_change":85.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-07-31","oi":0.05,"st":0.0,"lt":0.0,"roc":0.0,"total":0.05},{"fy":"2025-07-31","oi":0.09,"st":0.0,"lt":0.0,"roc":0.0,"total":0.09}],"has_351_evidence":true},{"ticker":"TBFC","fund_name":"The Brinsmere Fund - Conservative ETF","adviser":"The Milwaukee Company","launch_date":"2024-01-12","launch_aum":270.11,"launch_aum_pending_ncsr":false,"contribution_date":"2024-01-12","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":252.92,"embedded_gains":17.2,"expense_ratio":0.44,"gross_expense_ratio":0.44,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR Note 8: \"accounts managed by the Adviser\" (Milwaukee Company client accounts); $270M; non-taxable in-kind contribution","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from adviser accounts, cost basis $252.9M vs MV $270.1M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","sec_ncsr_search_term":"in-kind contribution from accounts managed by the Adviser","sec_prospectus_result":"Prospectus contains Section 351 language","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1540305/000089418926003148/conservativefundsummary.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"yes","cap_gains_detail":"Small cap gains distribution FY2025: $0.12/sh, only $4,567 total. De minimis. Sister fund TBFG distributed $0.15/sh ($1.45M) , larger.","evidence":[{"img":"evidence/TBFC/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFC/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFC/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFC/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFC/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1540305/000089418926003148/conservativefundsummary.htm","form":"497K","accession":"0000894189-26-003148","filed":"2026-01-30","sha256":"2c7e0534e86a9201"},{"img":"evidence/TBFC/distributions.webp","caption":"Capital gains actually distributed to shareholders","backs":"distributions, cap_gains_distributed","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322825013283/te-efp18881_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013283","filed":"2025-12-05","sha256":"02ae26fde0048814"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"ETF Series Solutions","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Cohen & Company, Ltd.","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":361.5,"latest_aum_date":"2026-09-16","aum_change":91.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-09-30","oi":0.44,"st":0.0,"lt":0.0,"roc":0.0,"total":0.44},{"fy":"2025-09-30","oi":0.7,"st":0.0,"lt":0.12,"roc":0.0,"total":0.82}],"has_351_evidence":true},{"ticker":"TBFG","fund_name":"The Brinsmere Fund Growth ETF","adviser":"Estate Counselors, LLC dba The Milwaukee Company (sub-adviser: Penserra Capital Management, LLC)","launch_date":"2024-01-12","launch_aum":247.47,"launch_aum_pending_ncsr":false,"contribution_date":"2024-01-12","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":229.16,"embedded_gains":18.3,"expense_ratio":0.46,"gross_expense_ratio":0.46,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"N-CSR: \"accounts managed by the Adviser\" (Milwaukee Company); same trust and structure as TBFC","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by the Adviser","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"yes","cap_gains_detail":"FY2025 (period ended 2025-09-30) paid $0.15 per share of realized gains. The tax-character note in the N-CSR filed 2025-12-05 gives The Brinsmere Fund - Growth ETF ordinary income $6,235,207 and capital gains $1,454,304. The prior period paid ordinary income only.","evidence":[{"img":"evidence/TBFG/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFG/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322824011088/tbf-efp11594_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011088","filed":"2024-12-09","sha256":"f630386c9c8a1b9c"},{"img":"evidence/TBFG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1540305/000089418926003147/growthfundsummary.htm","form":"497K","accession":"0000894189-26-003147","filed":"2026-01-30","sha256":"6c1630fd6f5a0651"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"ETF Series Solutions","distributor":"Quasar Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Cohen & Company Ltd.","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":388.8,"latest_aum_date":"2026-09-16","aum_change":141.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-09-30","oi":0.3,"st":0.0,"lt":0.0,"roc":0.0,"total":0.3},{"fy":"2025-09-30","oi":0.54,"st":0.0,"lt":0.15,"roc":0.0,"total":0.69}],"has_351_evidence":true},{"ticker":"SFGV","fund_name":"Sequoia Global Value ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: CCM Investment Group, LLC / Sequoia Financial Group)","launch_date":"2024-01-17","launch_aum":767.31,"launch_aum_pending_ncsr":false,"contribution_date":"2024-01-17","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":469.61,"embedded_gains":297.7,"expense_ratio":0.33,"gross_expense_ratio":0.44,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $767,314,164 of securities which were recorded at their current value... the Fund elected to retain the securities' original cost basis for tax purposes.\" (Sequoia Financial Group / Carlson Capital Management; launched January 17, 2024)","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $469.6M vs MV $767.3M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","sec_ncsr_search_term":"cost of the contributed securities as of January 17, 2024","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"FA-Mag: ETF with tax benefits on steroids. $925M from Carlson Capital Management clients","news_marketing_link":"https://www.fa-mag.com/","news_marketing_search_term":"tax benefits on steroids","cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/SFGV/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","form":"N-CSR","accession":"0001592900-26-000336","filed":"2026-01-30","sha256":"6d461e11c5722f18"},{"img":"evidence/SFGV/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","form":"N-CSR","accession":"0001592900-26-000336","filed":"2026-01-30","sha256":"6d461e11c5722f18"},{"img":"evidence/SFGV/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","form":"N-CSR","accession":"0001592900-26-000336","filed":"2026-01-30","sha256":"6d461e11c5722f18"},{"img":"evidence/SFGV/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000336/ck0001592900-20251130.htm","form":"N-CSR","accession":"0001592900-26-000336","filed":"2026-01-30","sha256":"6d461e11c5722f18"},{"img":"evidence/SFGV/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003469/ccmgfundsummary.htm","form":"497K","accession":"0001592900-25-003469","filed":"2025-10-30","sha256":"3a3645676c37e9a3"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":1259.8,"latest_aum_date":"2026-09-16","aum_change":492.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-11-30","oi":0.38,"st":0.0,"lt":0.0,"roc":0.0,"total":0.38},{"fy":"2025-11-30","oi":0.67,"st":0.0,"lt":0.0,"roc":0.0,"total":0.67}],"has_351_evidence":true},{"ticker":"MVPA","fund_name":"Miller Value Partners Appreciation ETF","adviser":"Miller Value Partners, LLC","launch_date":"2024-01-30","launch_aum":32.65,"launch_aum_pending_ncsr":false,"contribution_date":"2024-01-30","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":24.38,"embedded_gains":8.3,"expense_ratio":0.6,"gross_expense_ratio":0.6,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"certain securities of accounts managed by the Advisor were exchanged, at fair value, as in-kind transfers to the Appreciation ETF","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: accounts managed by the Advisor contributed $32,645,405 at fair value, historical cost $24,379,507 carried forward","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/MVPA/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011118","filed":"2024-12-09","sha256":"e6e547f80b9becc0"},{"img":"evidence/MVPA/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011118","filed":"2024-12-09","sha256":"e6e547f80b9becc0"},{"img":"evidence/MVPA/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011118","filed":"2024-12-09","sha256":"e6e547f80b9becc0"},{"img":"evidence/MVPA/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1970751/000113322824011118/mf-efp11879_ncsr.htm","form":"N-CSR","accession":"0001133228-24-011118","filed":"2024-12-09","sha256":"e6e547f80b9becc0"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 09/30; first N-CSRS covering launch (period 2024-03-31) expected ~Jun 2024","fund_trust":"Advisor Managed Portfolios","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":73.5,"latest_aum_date":"2026-09-16","aum_change":40.9,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"EAGL","fund_name":"Eagle Capital Select Equity ETF","adviser":"Eagle Capital Management, LLC","launch_date":"2024-03-22","launch_aum":1781.8,"launch_aum_pending_ncsr":false,"contribution_date":"2024-03-21","contribution_date_note":"Corrected 2026-08-31 from 2024-03-22. The N-CSRS names March 21, 2024 as\n the \"Contribution Date\"; March 22 is when the Fund commenced operations, and the listing date had\n been copied into this field.","launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":913.81,"embedded_gains":868.0,"expense_ratio":0.8,"gross_expense_ratio":0.8,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"CORRECTED 2026-08-31. The previous quote spliced two NON-ADJACENT sentences of the N-CSRS with\n no ellipsis, joining \"...serves as the Fund's investment adviser (the 'Adviser').\" directly to\n \"In connection with the Fund's launch, a contribution of securities was made by certain investors\n (the 'Initial Investors')\". Two sentences sit between them in the filing, about the investment\n strategy and the commencement date, so the adviser sentence read as adjoining the contribution\n sentence when it does not. What the filing ACTUALLY establishes, verbatim: \"In connection with the\n Fund's launch, a contribution of securities was made by certain investors (the 'Initial\n Investors') to the newly formed ETF. Each Initial Investor simultaneously and separately\n transferred solely a pool of diversified securities... On March 21, 2024 ('Contribution Date'),\n the Initial Investors completed a tax-free contribution under Section 351(a)\". That is PLURAL\n contributors and nothing about a common adviser. Counted across the whole document: \"accounts\n managed by\" 0, \"separately managed\" 0, \"advisory clients\" 0, \"clients of the Adviser\" 0. The\n multi-same-ria label is therefore NOT established by this filing; it is retained because the\n fund is plainly multi rather than single, but confidence is dropped to low and\n transferor_evidence records plurality-only. This is the largest seed in the file.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","secondary_source_quote":"Reuters/StreetInsider: \"Eagle converts separately managed account into $1.8 billion ETF... several hundred of Eagle Capital's clients in separately managed accounts converting into the exchange-traded structure.\" Goldman Sachs PR: \"first via separately managed account (SMA) conversion.\"","secondary_source_link":"https://www.streetinsider.com/Reuters/Eagle+converts+separately+managed+account+into+$1.8+billion+ETF/22973868.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: cost basis $913.8M vs MV $1,781.8M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","sec_ncsr_search_term":"cost basis of assets contributed","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"US News: Eagle converts SMA into $1.8B ETF. Listed on 351conversion.com","news_marketing_link":"https://351conversion.com/upcoming-etf-launches-section-351-exchange/","news_marketing_search_term":"Eagle","cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since Mar 2024 launch. Has $4.6M capital loss carryforward buffer.","evidence":[{"img":"evidence/EAGL/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-25-005104","filed":"2025-03-07","sha256":"35f8ab2538991afd"},{"img":"evidence/EAGL/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-25-005104","filed":"2025-03-07","sha256":"35f8ab2538991afd"},{"img":"evidence/EAGL/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-25-005104","filed":"2025-03-07","sha256":"35f8ab2538991afd"},{"img":"evidence/EAGL/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1969674/000139834425005104/fp0092015-1_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-25-005104","filed":"2025-03-07","sha256":"35f8ab2538991afd"},{"img":"evidence/EAGL/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1969674/000139834424019459/fp0090624-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-24-019459","filed":"2024-10-25","sha256":"7446a589000bda76"},{"img":"evidence/EAGL/providers.webp","caption":"The service providers of record","backs":"fund_counsel, distributor, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1969674/000199937125016193/eagl-485bpos_102725.htm","form":"485BPOS","accession":"0001999371-25-016193","filed":"2025-10-27","sha256":"c32e7e98eef49e49"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"2023 ETF Series Trust","distributor":"Foreside Fund Services, LLC","custodian":"The Bank of New York Mellon","auditor":"Deloitte & Touche LLP","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":4773.6,"latest_aum_date":"2026-09-16","aum_change":2991.8,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2024-06-30","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0},{"fy":"2025-06-30","oi":0.08,"st":0.0,"lt":0.0,"roc":0.0,"total":0.08}],"has_351_evidence":true},{"ticker":"KEAT","fund_name":"Keating Active ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Keating Investment Counselors, Inc.)","launch_date":"2024-03-26","launch_aum":61.44,"launch_aum_pending_ncsr":false,"contribution_date":"2024-03-26","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":36.26,"embedded_gains":25.2,"expense_ratio":0.85,"gross_expense_ratio":0.86,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"N-CSR: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $61,438,228 of securities...the transaction was determined to be a non-taxable transaction...the Fund elected to retain the securities' original cost basis for tax purposes\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from sub-adviser accounts, cost basis $36.3M vs MV $61.4M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","sec_ncsr_search_term":"non-taxable transaction","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since Mar 2024 launch.","evidence":[{"img":"evidence/KEAT/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","form":"N-CSR","accession":"0001592900-25-000863","filed":"2025-04-04","sha256":"34b91a1fee2fcee1"},{"img":"evidence/KEAT/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","form":"N-CSR","accession":"0001592900-25-000863","filed":"2025-04-04","sha256":"34b91a1fee2fcee1"},{"img":"evidence/KEAT/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","form":"N-CSR","accession":"0001592900-25-000863","filed":"2025-04-04","sha256":"34b91a1fee2fcee1"},{"img":"evidence/KEAT/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000863/ck0001592900-20250131.htm","form":"N-CSR","accession":"0001592900-25-000863","filed":"2025-04-04","sha256":"34b91a1fee2fcee1"},{"img":"evidence/KEAT/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002065/keatingactiveetf.htm","form":"497K","accession":"0001592900-25-002065","filed":"2025-08-15","sha256":"40fcfdf7ec5b5a81"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":124.4,"latest_aum_date":"2026-09-16","aum_change":63.0,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-01-31","oi":0.44,"st":0.0,"lt":0.0,"roc":0.0,"total":0.44}],"has_351_evidence":true},{"ticker":"TOGA","fund_name":"Tremblant Global ETF","adviser":"Tremblant Advisors LP","launch_date":"2024-04-30","launch_aum":69.33,"launch_aum_pending_ncsr":false,"contribution_date":"2024-04-30","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":58.87,"embedded_gains":10.5,"expense_ratio":0.69,"gross_expense_ratio":0.69,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"pooled","transferor_type_confidence":"high","transferor_type_quote":"For the conversion on April 30, 2024, the Fund received an in-kind contribution from the Predecessor Fund, which consisted of $2,066,299 of cash and $69,331,435 of securities","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: Predecessor Fund contributed $2,066,299 cash and $69,331,435 of securities, cost $58,869,699, unrealized appreciation $10,461,736","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TOGA/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","form":"N-CSR","accession":"0001133228-25-002469","filed":"2025-03-10","sha256":"7589bd8eca1744a4"},{"img":"evidence/TOGA/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","form":"N-CSR","accession":"0001133228-25-002469","filed":"2025-03-10","sha256":"7589bd8eca1744a4"},{"img":"evidence/TOGA/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","form":"N-CSR","accession":"0001133228-25-002469","filed":"2025-03-10","sha256":"7589bd8eca1744a4"},{"img":"evidence/TOGA/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1511699/000113322825002469/tacfs-efp13978_ncsr.htm","form":"N-CSR","accession":"0001133228-25-002469","filed":"2025-03-10","sha256":"7589bd8eca1744a4"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 12/31; first N-CSRS covering launch (period 2024-06-30) expected ~Sep 2024","fund_trust":"Managed Portfolio Series","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":181.3,"latest_aum_date":"2026-09-16","aum_change":112.0,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"OCFS","fund_name":"Otter Creek Focus Strategy ETF","adviser":"Otter Creek Advisors, LLC","launch_date":"2024-05-17","launch_aum":0.86,"launch_aum_pending_ncsr":false,"contribution_date":"2024-05-17","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":0.67,"embedded_gains":0.2,"expense_ratio":0.85,"gross_expense_ratio":0.85,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"N-CSR: \"accounts managed by the Adviser\" (Otter Creek Advisors) - plural SMA accounts","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by the Adviser. Fund defunct Oct 2025.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":"Fund defunct as of Oct 2025, 100% cash. No cap gains distributed.","evidence":[{"img":"evidence/OCFS/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","form":"N-CSR","accession":"0001133228-25-000363","filed":"2025-01-10","sha256":"a83775599db229de"},{"img":"evidence/OCFS/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","form":"N-CSR","accession":"0001133228-25-000363","filed":"2025-01-10","sha256":"a83775599db229de"},{"img":"evidence/OCFS/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","form":"N-CSR","accession":"0001133228-25-000363","filed":"2025-01-10","sha256":"a83775599db229de"},{"img":"evidence/OCFS/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/811030/000113322825000363/ocfse-efp12701_ncsr.htm","form":"N-CSR","accession":"0001133228-25-000363","filed":"2025-01-10","sha256":"a83775599db229de"},{"img":"evidence/OCFS/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/811030/000089418924003331/ottercreeketfsummaryprospe.htm","form":"497K","accession":"0000894189-24-003331","filed":"2024-05-17","sha256":"f9ddd59ccb2353ee"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Professionally Managed Portfolios","distributor":"Quasar Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Sullivan & Worcester LLP","latest_aum":null,"latest_aum_date":null,"aum_change":null,"closed_date":"2025-10-30","closed_reason":"liquidated","closed_into":null,"closed_source_link":"https://www.sec.gov/Archives/edgar/data/811030/000089418925010867/ottercreekfocusstrategyetf.htm","distributions":[{"fy":"2024-10-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"RSMC","fund_name":"Rockefeller US Small-Mid Cap ETF","adviser":"Tidal Investments LLC (sub-adviser: Rockefeller & Co. 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U.S. Small Capitalization Fund, L.P. and Rockefeller U.S. Small Capitalization Fund QP, L.P (the \u201cPredecessor Funds\u201d) reorganized into the Rockefeller U.S. Small-Mid Cap ETF","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: three predecessor LPs reorganized, market value $741,471,896, cost $301,024,526, unrealized appreciation $440,447,370, all rows marked Non-taxable","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/RSMC/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"},{"img":"evidence/RSMC/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"},{"img":"evidence/RSMC/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 07/31; first N-CSRS covering launch (period 2025-01-31) expected ~Apr 2025","fund_trust":"Tidal Trust III","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":770.4,"latest_aum_date":"2026-09-16","aum_change":28.9,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"RGEF","fund_name":"Rockefeller Global Equity ETF","adviser":"Tidal Investments LLC (sub-adviser: Rockefeller & Co. LLC)","launch_date":"2024-10-24","launch_aum":708.88,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":461.37,"embedded_gains":247.5,"expense_ratio":0.55,"gross_expense_ratio":0.55,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"pooled","transferor_type_confidence":"high","transferor_type_quote":"the Rockefeller Global Equity Fund I L.P, Rockefeller Global Equity Fund II, L.P., ... and Rockefeller Global Dividend Growth Fund QP L.P. (the \u201cPredecessor Funds\u201d) reorganized into the Rockefeller Global Equity ETF","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: six predecessor LPs reorganized, market value $708,875,064, cost $461,370,397, unrealized appreciation $247,504,667, all rows marked Non-taxable","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/RGEF/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"},{"img":"evidence/RGEF/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"},{"img":"evidence/RGEF/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1722388/000199937125014714/rockefeller-ncsr_073125.htm","form":"N-CSR","accession":"0001999371-25-014714","filed":"2025-10-06","sha256":"d22c95b404d338cb"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 07/31; first N-CSRS covering launch (period 2025-01-31) expected ~Apr 2025","fund_trust":"Tidal Trust III","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":822.4,"latest_aum_date":"2026-09-16","aum_change":113.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"FMCE","fund_name":"FM Compounders Equity ETF","adviser":"First Manhattan Co. LLC","launch_date":"2024-11-08","launch_aum":68.33,"launch_aum_pending_ncsr":false,"contribution_date":"2024-11-08","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":21.03,"embedded_gains":47.3,"expense_ratio":0.72,"gross_expense_ratio":0.72,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"FMCE was seeded through the exchange of ETF shares for the securities held by various separately managed accounts ('SMAs') on November 8, 2024. The transactions were structured as tax-free exchanges of shares. FMCE carried forward the historical cost basis of investments and cumulative unrealized gains and losses as reported by the SMAs prior to the transactions.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225007142/fmetf_ncsrs.htm","secondary_source_quote":"GlobeNewswire (Ultimus, May 2025): \"the Firm leveraged Ultimus' experienced team to support the transfer of assets of 12 separately managed accounts through a 351 exchange to seed FMCE, which launched late last year.\"","secondary_source_link":"https://www.globenewswire.com/news-release/2025/05/28/3089719/0/en/Ultimus-Broadens-Support-for-First-Manhattan-Across-Private-and-Registered-Funds.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind seeding, cost basis $21.0M vs MV $68.3M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225003022/fm-etf_ncsr.htm","sec_ncsr_search_term":"In-Kind Seeding","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Ultimus press release: 12 separately managed accounts through a 351 exchange","news_marketing_link":"https://www.prnewswire.com/","news_marketing_search_term":"351 exchange","cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since Nov 2024 launch.","evidence":[{"img":"evidence/FMCE/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064225003022/fm-etf_ncsr.htm","form":"N-CSR","accession":"0001580642-25-003022","filed":"2025-05-08","sha256":"bb5312f2269dd1a8"},{"img":"evidence/FMCE/transferor.webp","caption":"Who contributed the seed assets, in the filing's words","backs":"transferor_type, 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individuals.\" Indicates open/syndicated structure: multiple unrelated advisory firms and broker-dealers contributed client accounts, not a single RIA.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290024001770/ck0001592900-20240331.htm","secondary_source_quote":null,"secondary_source_link":"https://www.wealthmanagement.com/etfs/tax-busting-tactic-loved-by-tech-millionaires-is-coming-to-etfs","dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004124/ck0001592900-20250930.htm","sec_ncsr_search_term":null,"sec_prospectus_result":"N-CSRS confirms Section 351 in-kind 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of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004124/ck0001592900-20250930.htm","form":"N-CSRS","accession":"0001592900-25-004124","filed":"2025-12-03","sha256":"ee6460a35c3c8302"},{"img":"evidence/CHGX/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004124/ck0001592900-20250930.htm","form":"N-CSRS","accession":"0001592900-25-004124","filed":"2025-12-03","sha256":"ee6460a35c3c8302"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series 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seed capital from separately managed private client accounts.\"","secondary_source_link":"https://www.prnewswire.com/news-releases/brown-advisory-launches-first-active-etf-with-913m-in-seed-capital-302308237.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contributions from SMA accounts, cost basis $460M vs MV $913M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","sec_ncsr_search_term":"in-kind contributions","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: \"$913M seed from separately managed private client accounts.\" Vident press release mentions 351","news_marketing_link":"https://www.brownadvisory.com/","news_marketing_search_term":"separately managed private client accounts","cap_gains_distributed":"no","cap_gains_detail":"Zero cap gains distributions since 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account managed by adviser since March 18, 2021)","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1604813/000113322825010804/afetacr-efp17624_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: in-kind contribution from Predecessor Account (SMA), cost basis $783K vs MV $1.0M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1604813/000089418925001029/ck0001604813-20240731.htm","sec_ncsr_search_term":"section 351","sec_prospectus_result":"Prospectus mentions Section 351 and transferred basis risk","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1604813/000089418925016287/abacusfcfsmallcapleadersetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains 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For tax purposes, the historical cost of the contributed investments was $248,999,983, with unrealized appreciation of $200,149,792; total fair value was $449,149,775. The Active Opportunities ETF issued 17,970,000 shares at $24.99 per share.\" TSPX perspective as recipient fund.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1359057/000113322826001499/toefts-efp21791_ncsrs.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: in-kind transfers, cost basis $249.0M vs MV $449.1M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1359057/000113322825008208/toa-efp16487_ncsr.htm","sec_ncsr_search_term":"in-kind transfers were not taxable events","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Listed on 351conversion.com ($450M). Bloomberg article lead example","news_marketing_link":"https://351conversion.com/","news_marketing_search_term":"Twin Oak","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TSPX/in_kind_gain-2025-08-08.webp","caption":"Realized gain or loss on in-kind redemptions, as filed","backs":"in_kind_gain","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322825008208/toa-efp16487_ncsr.htm","form":"N-CSR","accession":"0001133228-25-008208","filed":"2025-08-08","sha256":""},{"img":"evidence/TSPX/net_assets-2025-08-08.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322825008208/toa-efp16487_ncsr.htm","form":"N-CSR","accession":"0001133228-25-008208","filed":"2025-08-08","sha256":""},{"img":"evidence/TSPX/net_assets-2025-11-30.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322826001499/toefts-efp21791_ncsrs.htm","form":"N-CSRS","accession":"0001133228-26-001499","filed":"2026-02-06","sha256":""},{"img":"evidence/TSPX/net_assets-2026-05-31.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322826011264/to-efp25646_ncsr.htm","form":"N-CSR","accession":"0001133228-26-011264","filed":"2026-08-07","sha256":""},{"img":"evidence/TSPX/turnover_pct-2025-08-08.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322825008208/toa-efp16487_ncsr.htm","form":"N-CSR","accession":"0001133228-25-008208","filed":"2025-08-08","sha256":""},{"img":"evidence/TSPX/turnover_pct-2026-05-31.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1359057/000113322826011264/to-efp25646_ncsr.htm","form":"N-CSR","accession":"0001133228-26-011264","filed":"2026-08-07","sha256":""}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Manager Directed Portfolios","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Cohen & Company, Ltd.","fund_counsel":"Godfrey & Kahn, S.C.","latest_aum":243.7,"latest_aum_date":"2026-09-16","aum_change":-205.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-05-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":false},{"ticker":"YOKE","fund_name":"Yoke Core ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Smart Money Group, LLC)","launch_date":"2025-02-21","launch_aum":111.25,"launch_aum_pending_ncsr":false,"contribution_date":"2025-02-21","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":77.99,"embedded_gains":33.3,"expense_ratio":0.3,"gross_expense_ratio":0.3,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $111,247,905 of securities which were recorded at their current value... the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of February 21, 2025, was $77,993,176.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $78.0M vs MV $111.2M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","sec_ncsr_search_term":"the Fund received an in-kind contribution","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/YOKE/in_kind_gain-2025-07-31.webp","caption":"Realized gain or loss on in-kind redemptions, as filed","backs":"in_kind_gain","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003120","filed":"2025-10-01","sha256":""},{"img":"evidence/YOKE/net_assets-2025-07-31.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003120","filed":"2025-10-01","sha256":""},{"img":"evidence/YOKE/redeemed-2025-07-31.webp","caption":"Value of shares redeemed during the period, as filed","backs":"redeemed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003120","filed":"2025-10-01","sha256":""},{"img":"evidence/YOKE/turnover_pct-2025-07-31.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003120/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003120","filed":"2025-10-01","sha256":""}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":230.5,"latest_aum_date":"2026-09-16","aum_change":119.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-07-31","oi":0.1,"st":0.0,"lt":0.0,"roc":0.0,"total":0.1}],"has_351_evidence":false},{"ticker":"EBI","fund_name":"Longview Advantage ETF","adviser":"Hill Investment Group Partners, LLC dba Longview Research Partners","launch_date":"2025-02-26","launch_aum":439.84,"launch_aum_pending_ncsr":false,"contribution_date":"2025-02-26","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":216.18,"embedded_gains":223.7,"expense_ratio":0.24,"gross_expense_ratio":0.34,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"a contribution of securities was made by certain investors (the 'Initial Investors') to the Fund. Each Initial Investor simultaneously and separately transferred solely a pool of diversified securities... the Initial Investors completed a tax-free contribution under Section 351(a) of the Internal Revenue Code of 1986, as amended. The Initial Investors contributed a total market value of $439,841,525.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425020538/fp0094048-5_ncsrixbrl.htm","secondary_source_quote":"Wealth Management/Bloomberg (Jan 2025): \"HIG clients will account for roughly 40% of the ETF's seeded assets, with the rest coming from about 15 financial advisers or family offices who are each expected to contribute at least $15 million.\"","secondary_source_link":"https://www.wealthmanagement.com/etfs/a-500-million-etf-will-be-next-big-launch-in-tax-busting-trend","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: Section 351(a), cost basis $216.2M vs MV $439.8M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425020538/fp0094048-5_ncsrixbrl.htm","sec_ncsr_search_term":"Section 351(a)","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Longview blog: \"success of the fund started on day one with the launch via a 351 exchange.\" Listed on 351conversion.com","news_marketing_link":"https://longviewresearchpartners.com/proof-points-matter-and-so-does-what-comes-next/","news_marketing_search_term":"351 exchange","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/EBI/in_kind_gain-2025-08-31.webp","caption":"Realized gain or loss on in-kind redemptions, as filed","backs":"in_kind_gain","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425020538/fp0094048-5_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-020538","filed":"2025-11-07","sha256":""},{"img":"evidence/EBI/in_kind_gain-2026-02-28.webp","caption":"Realized gain or loss on in-kind redemptions, as 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from accounts managed by the Sub-Adviser, which consisted of $27,844,040 of securities which were recorded at their current value to align the Fund's performance with ongoing financial reporting. However, as the transaction was determined to be a non-taxable transaction by management, the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of February 26, 2025, was $15,442,767, resulting in net unrealized appreciation on investments of $12,401,273 as of that date. As a result of the in-kind contribution, the Fund issued 1,115,000 shares at a $24.97 per share net asset value.\" Sub-Adviser identified as JLens (Note 2 of filing).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","secondary_source_quote":"ADL press release (Feb 27, 2025): \"Several U.S. Jewish organizations, along with the ADL Foundation, have committed to invest over $100 million in seed capital.\" Named organizations: Atlanta Jewish Foundation, Goodman Family Foundation, Jewish Community Partners (Memphis), Jewish Federation of Greater Pittsburgh, Jewish United Fund of Metropolitan Chicago, Libitzky Family Foundation, Newton and Rochelle Becker Charitable Trust. Note: account type (SMA vs. direct institutional) cannot be resolved from public sources alone.","secondary_source_link":"https://www.adl.org/resources/press-release/jlens-launches-first-ever-jewish-advocacy-etf-tov-nyse-backed-adl","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $15.4M vs MV $27.8M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","sec_ncsr_search_term":"commencement of operations on February 26, 2025","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Listed on 351conversion.com. Jewish organizations + ADL Foundation seeded","news_marketing_link":"https://351conversion.com/","news_marketing_search_term":"JLens","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TOV/in_kind_gain-2025-07-31.webp","caption":"Realized gain or loss on in-kind redemptions, as filed","backs":"in_kind_gain","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003128","filed":"2025-10-01","sha256":""},{"img":"evidence/TOV/in_kind_gain-2026-01-31.webp","caption":"Realized gain or loss on in-kind redemptions, as filed","backs":"in_kind_gain","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001549/ck0001592900-20260131.htm","form":"N-CSR","accession":"0001592900-26-001549","filed":"2026-03-31","sha256":""},{"img":"evidence/TOV/net_assets-2025-07-31.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003128","filed":"2025-10-01","sha256":""},{"img":"evidence/TOV/net_assets-2026-01-31.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001549/ck0001592900-20260131.htm","form":"N-CSR","accession":"0001592900-26-001549","filed":"2026-03-31","sha256":""},{"img":"evidence/TOV/redeemed-2025-07-31.webp","caption":"Value of shares redeemed during the period, as filed","backs":"redeemed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003128","filed":"2025-10-01","sha256":""},{"img":"evidence/TOV/redeemed-2026-01-31.webp","caption":"Value of shares redeemed during the period, as filed","backs":"redeemed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001549/ck0001592900-20260131.htm","form":"N-CSR","accession":"0001592900-26-001549","filed":"2026-03-31","sha256":""},{"img":"evidence/TOV/turnover_pct-2025-07-31.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003128/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003128","filed":"2025-10-01","sha256":""},{"img":"evidence/TOV/turnover_pct-2026-01-31.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001549/ck0001592900-20260131.htm","form":"N-CSR","accession":"0001592900-26-001549","filed":"2026-03-31","sha256":""}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":284.4,"latest_aum_date":"2026-09-16","aum_change":256.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-07-31","oi":0.09,"st":0.0,"lt":0.0,"roc":0.0,"total":0.09}],"has_351_evidence":false},{"ticker":"AVUQ","fund_name":"Avantis U.S. Quality ETF","adviser":"American Century Investment Management, Inc. (brand: Avantis Investors)","launch_date":"2025-03-25","launch_aum":119.2,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2025-03-31","cost_basis":null,"embedded_gains":null,"expense_ratio":0.15,"gross_expense_ratio":0.15,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"No Section 351 note found in N-CSR (period March 25 to August 31, 2025, CIK 1710607). The filing contains no language referencing Section 351, in-kind contributions, Initial Investors, contributed securities, or tax-free transfer. Classification as multi-same-ria relies on indirect evidence: (1) American Century/Avantis runs many client SMA accounts; (2) sister fund AVTM confirmed multi-account 351 conversion in its own N-CSR; (3) book/tax cost gap at launch is consistent with a 351 transfer.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060725000307/ck0001710607-20250831.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed via accounting: book cost $130.9M vs tax cost $111.7M ($19.1M gap proves 351)","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060725000307/ck0001710607-20250831.htm","sec_ncsr_search_term":"Federal tax cost of investments","sec_prospectus_result":"Trust-level SAI: \"fund may receive an initial in-kind deposit under section 351\"","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060719000091/acetft090919avantis485b.htm","sec_prospectus_search_term":"section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":"Avantis US Quality ETF","cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/AVUQ/net_assets-2025-08-31.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060725000307/ck0001710607-20250831.htm","form":"N-CSR","accession":"0001710607-25-000307","filed":"2025-10-29","sha256":""},{"img":"evidence/AVUQ/net_assets-2026-02-28.webp","caption":"Net assets at period end, as filed","backs":"net_assets","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000068/ck0001710607-20260228.htm","form":"N-CSRS","accession":"0001710607-26-000068","filed":"2026-04-27","sha256":""},{"img":"evidence/AVUQ/turnover_pct-2025-08-31.webp","caption":"Portfolio turnover rate, as filed","backs":"turnover_pct","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060725000307/ck0001710607-20250831.htm","form":"N-CSR","accession":"0001710607-25-000307","filed":"2025-10-29","sha256":""}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"American Century ETF Trust","distributor":"Foreside Fund Services, LLC","custodian":"State Street Bank and Trust Company","auditor":"Deloitte & Touche LLP","fund_counsel":"In-house (American Century)","latest_aum":337.6,"latest_aum_date":"2026-09-16","aum_change":218.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-08-31","oi":0.1,"st":0.0,"lt":0.0,"roc":0.0,"total":0.1}],"has_351_evidence":false},{"ticker":"DSPY","fund_name":"Tema S&P 500 Historical Weight ETF Strategy","adviser":"Tema ETFs LLC","launch_date":"2025-04-01","launch_aum":590.59,"launch_aum_pending_ncsr":false,"contribution_date":"2025-08-20","contribution_date_note":"Not a launch seed, and deliberately so. Inception was 2025-04-01 per the Statement of Changes footnote (a); the $590,591,717 contribution followed on 2025-08-20, 141 days later, into a fund holding $2,575,513 at its 2025-05-31 NPORT. Control under section 368(c) is satisfied and now filed rather than inferred: Brown Advisory's Schedule 13G reports 11,042,394 shares, 95.7%, as of 2025-08-31, against an 80% threshold. It is one fund, not a combination; the filing contains no occurrence of reorganization, acquired fund, predecessor or merger. Use contribution_date, not launch_date, as the event date.","launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":284.52,"embedded_gains":306.1,"expense_ratio":0.18,"gross_expense_ratio":0.18,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"Brown Advisory Inc and Brown Advisory LLC, a registered investment adviser, filed a Schedule 13G on 2025-09-08 (accession 0001085146-25-005723, CUSIP 87975E826) reporting 11,042,394 shares, 95.7% of the fund, as of 2025-08-31, eleven days after the contribution. Amendments report 98.03% at 2025-12-31 and 87.90% at 2026-05-31. The contributing accounts are therefore Brown Advisory client accounts, which resolves the N-CSR's 'accounts managed by an investor' to a single RIA converting its own clients' separately managed accounts.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1345929/000108514625005723/primary_doc.xml","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Audited N-CSR confirms $590,591,717 contributed, cost $284,520,719, carryover retained for book and tax.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1944285/000113322826008150/tafs-efp23942_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/DSPY/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis, as audited","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1944285/000113322826008150/tafs-efp23942_ncsr.htm","form":"N-CSR","accession":"0001133228-26-008150","filed":"2026-05-11","sha256":"c91673609b720360"},{"img":"evidence/DSPY/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1944285/000113322825011788/tet-efp18271_ncsrs.htm","form":"N-CSRS","accession":"0001133228-25-011788","filed":"2025-11-06","sha256":"c7f7c21040e73503"},{"img":"evidence/DSPY/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1944285/000113322825011788/tet-efp18271_ncsrs.htm","form":"N-CSRS","accession":"0001133228-25-011788","filed":"2025-11-06","sha256":"c7f7c21040e73503"},{"img":"evidence/DSPY/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1944285/000199937125008473/dspy-497k_062725.htm","form":"497K","accession":"0001999371-25-008473","filed":"2025-06-27","sha256":"fa33be2939784655"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Tema ETF Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":997.2,"latest_aum_date":"2026-09-16","aum_change":406.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2026-02-28","oi":0.42,"st":0.0,"lt":0.0,"roc":0.0,"total":0.42}],"has_351_evidence":true},{"ticker":"ABIG","fund_name":"Argent Large Cap ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Argent Capital Management, LLC)","launch_date":"2025-04-08","launch_aum":6.6,"launch_aum_pending_ncsr":false,"contribution_date":"2025-04-08","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":4.55,"embedded_gains":2.0,"expense_ratio":0.49,"gross_expense_ratio":0.49,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"single","transferor_type_confidence":"high","transferor_type_quote":"As part of ABIG's commencement of operations on April 8, 2025, ABIG received an in-kind contribution from an account managed by the Sub-Adviser.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003806/ck0001592900-20260531.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: in-kind contribution from SMA, cost basis $4.55M vs MV $6.60M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","sec_ncsr_search_term":"non-taxable transaction by management","sec_prospectus_result":"SAI contains Section 351 language","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003086/argentlargecapetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/ABIG/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ABIG/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ABIG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ABIG/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ABIG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003086/argentlargecapetf.htm","form":"497K","accession":"0001592900-25-003086","filed":"2025-09-30","sha256":"aced6876f012f596"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":57.8,"latest_aum_date":"2026-09-16","aum_change":51.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-05-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"ALIL","fund_name":"Argent Focused Small Cap ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Argent Capital Management, LLC)","launch_date":"2025-04-08","launch_aum":3.47,"launch_aum_pending_ncsr":false,"contribution_date":"2025-04-08","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":3.04,"embedded_gains":0.4,"expense_ratio":0.74,"gross_expense_ratio":0.74,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"single","transferor_type_confidence":"high","transferor_type_quote":"As part of ALIL's commencement of operations on April 8, 2025, ALIL received an in-kind contribution from an account managed by the Sub-Adviser.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003806/ck0001592900-20260531.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $3.04M vs MV $3.47M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","sec_ncsr_search_term":"ALIL commencement of operations","sec_prospectus_result":"SAI references Section 351","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003084/argentfocusedsmallcapetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/ALIL/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ALIL/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ALIL/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ALIL/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002024/ck0001592900-20250531.htm","form":"N-CSR","accession":"0001592900-25-002024","filed":"2025-07-31","sha256":"1921e92ea9fcf6b4"},{"img":"evidence/ALIL/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003084/argentfocusedsmallcapetf.htm","form":"497K","accession":"0001592900-25-003084","filed":"2025-09-30","sha256":"d78b7fd4466ee3ab"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":25.1,"latest_aum_date":"2026-09-16","aum_change":21.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-05-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"ENDW","fund_name":"Cambria Endowment Style ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, LP)","launch_date":"2025-04-09","launch_aum":98.18,"launch_aum_pending_ncsr":false,"contribution_date":"2025-04-09","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":46.55,"embedded_gains":51.6,"expense_ratio":0.29,"gross_expense_ratio":0.29,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"As part of ENDW's commencement of operations on April 9, 2025, ENDW received an in-kind contribution from separately managed accounts of various investment advisory firms, which consisted of $98,178,992 of securities which were recorded at their current value to align ENDW's performance with ongoing financial reporting. However, as the transaction was determined to be a non-taxable transaction by management, ENDW elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of April 9, 2025, was $46,552,655, resulting in net unrealized appreciation on investments of $51,626,337 as of that date. As a result of the in-kind contribution, ENDW issued 3,930,000 shares at a $24.98 per share net asset value.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000337/ck0001592900-20251130.htm","secondary_source_quote":"BusinessWire (Apr 2025): \"The ETF launched with $98 million, funded by individual investors and advisors who exchanged separate account investment holdings for the new, tax-efficient ETF.\" Open to clients of any advisory firm via Cambria 351 platform.","secondary_source_link":"https://www.businesswire.com/news/home/20250410488685/en/Cambria-and-ETF-Architect-Announce-Cambria-Endowment-Style-ETF-ENDW-Joins-TAX-as-Cambrias-Second-351-Exchange","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $46.6M vs MV $98.2M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000337/ck0001592900-20251130.htm","sec_ncsr_search_term":"ENDW received an in-kind contribution","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: \"Cambrias Second 351 Exchange. 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The Initial Investor contributed a total market value of $108,512,518 on the Contribution Date, which was comprised of a cost basis of assets contributed of $17,815,965 and unrealized appreciation of $90,696,553.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425020538/fp0094048-5_ncsrixbrl.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: Section 351(a), cost basis $17.8M vs MV $108.5M (83.6% gains). 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The cost of the contributed securities as of June 13, 2025, was $250,922 (000), resulting in net unrealized appreciation on investments of $201,959 (000)... issued 18,115,247 shares at a $25.00 per share net asset value.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contributions from adviser accounts, cost basis $250.9M vs MV $452.9M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","sec_ncsr_search_term":"in-kind contributions","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/BASG/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"},{"img":"evidence/BASG/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"},{"img":"evidence/BASG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"},{"img":"evidence/BASG/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"},{"img":"evidence/BASG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"},{"img":"evidence/BASG/providers.webp","caption":"The service providers of record","backs":"fund_counsel, auditor","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834425022075/fp0096321-2_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-25-022075","filed":"2025-12-05","sha256":"9a46316211b66040"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Advisors' Inner Circle Fund III","distributor":"SEI Investments Distribution Co.","custodian":"Brown Brothers Harriman & Co.","auditor":"Cohen & Company, Ltd.","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":525.2,"latest_aum_date":"2026-09-16","aum_change":72.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-09-30","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"BASV","fund_name":"Brown Advisory Sustainable Value ETF","adviser":"Brown Advisory LLC","launch_date":"2025-06-13","launch_aum":89.54,"launch_aum_pending_ncsr":false,"contribution_date":"2025-06-13","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":67.75,"embedded_gains":21.8,"expense_ratio":0.71,"gross_expense_ratio":0.85,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"N-CSR: \"accounts managed by the Adviser\" (Brown Advisory); 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The cost of the contributed securities as of June 17, 2025, was $266,280,945.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000362/ck0001592900-20251130.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from sub-adviser accounts, cost basis $266.3M vs MV $311.6M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000362/ck0001592900-20251130.htm","sec_ncsr_search_term":"in-kind contribution from accounts managed by the Sub-Adviser","sec_prospectus_result":"Prospectus: In-Kind Contribution Risk / Section 351","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001508/castellantrgtedequityetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero 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LLC","launch_date":"2025-07-11","launch_aum":195.95,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-11","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":172.18,"embedded_gains":23.8,"expense_ratio":0.49,"gross_expense_ratio":0.52,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"pooled","transferor_type_confidence":"high","transferor_type_quote":"The Fund is a successor to the GQG Partners US Select Quality Fund, an unregistered private investment fund and series of the GQG Partners Series LLC (the \u201cPredecessor Fund\u201d).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: successor to an unregistered private investment fund; securities at value $195,954,766 plus $6,151,609 cash, unrealized appreciation $23,776,664, basis carried forward","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/GQGU/seed_and_basis.webp","caption":"The in-kind contribution: securities at value and unrealized appreciation as filed","backs":"launch_aum, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-26-010424","filed":"2026-06-05","sha256":"fe8a3fbc288c653d"},{"img":"evidence/GQGU/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-26-010424","filed":"2026-06-05","sha256":"fe8a3fbc288c653d"},{"img":"evidence/GQGU/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-26-010424","filed":"2026-06-05","sha256":"fe8a3fbc288c653d"},{"img":"evidence/GQGU/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1593547/000139834426010424/fp0098298-3_ncsrixbrl.htm","form":"N-CSR","accession":"0001398344-26-010424","filed":"2026-06-05","sha256":"fe8a3fbc288c653d"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 03/31; first N-CSRS covering launch (period 2025-09-30) expected ~Dec 2025","fund_trust":"Advisors' Inner Circle Fund III","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":674.0,"latest_aum_date":"2026-09-16","aum_change":478.0,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AAAA","fund_name":"Amplius Aggressive Asset Allocation ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Amplius Asset Management, LLC)","launch_date":"2025-07-15","launch_aum":149.98,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-15","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":68.53,"embedded_gains":81.4,"expense_ratio":0.49,"gross_expense_ratio":0.63,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"As part of the Fund's commencement of operations on July 15, 2025, the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $149,977,910 of securities which were recorded at their current value to align the Fund's performance with ongoing financial reporting. However, as the transaction was determined to be a non-taxable transaction by management, the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of July 15, 2025, was $68,532,628, resulting in net unrealized appreciation on investments of $81,445,282 as of that date. As a result of the in-kind contribution, the Fund issued 6,000,000 shares at a $25.00 per share net asset value.\" Sub-Adviser identified as Amplius Asset Management, LLC (Note 2 of filing).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","secondary_source_quote":"BusinessWire (Jul 2025): \"The fund is seeded through a 351 Exchange, an underutilized tax strategy that lets eligible investors contribute appreciated assets in exchange for ETF shares, deferring capital gains in the process.\" Sub-Adviser: Amplius Asset Management (confirmed in N-CSR Note 2).","secondary_source_link":"https://www.businesswire.com/news/home/20250728044984/en/Amplius-Rolls-Out-Tax-Smart-ETF-to-Help-Investors-Shed-Stock-Concentration-Without-Triggering-Capital-Gains","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $68.5M vs MV $150.0M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: seeded through a 351 Exchange","news_marketing_link":"https://ampliuswealth.com/","news_marketing_search_term":"351 Exchange","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AAAA/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003122","filed":"2025-10-01","sha256":"6f5cb32945ea0b25"},{"img":"evidence/AAAA/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003122","filed":"2025-10-01","sha256":"6f5cb32945ea0b25"},{"img":"evidence/AAAA/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003122","filed":"2025-10-01","sha256":"6f5cb32945ea0b25"},{"img":"evidence/AAAA/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003122/ck0001592900-20250731.htm","form":"N-CSRS","accession":"0001592900-25-003122","filed":"2025-10-01","sha256":"6f5cb32945ea0b25"},{"img":"evidence/AAAA/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001753/ampliusaggressiveallocatio.htm","form":"497K","accession":"0001592900-25-001753","filed":"2025-07-07","sha256":"b52f341bd18fadfa"},{"img":"evidence/AAAA/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000941/ck0001592900-20250131.htm","form":"485BPOS","accession":"0001592900-25-000941","filed":"2025-04-25","sha256":"9c6da264f914366b"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":284.4,"latest_aum_date":"2026-09-16","aum_change":134.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-07-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"TCV","fund_name":"Towle Value ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Towle & Co.)","launch_date":"2025-07-16","launch_aum":83.93,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-16","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":74.35,"embedded_gains":9.6,"expense_ratio":0.85,"gross_expense_ratio":0.85,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $83,931,129 of securities which were recorded at their current value... the Fund elected to retain the securities original cost basis for tax purposes.\" Sub-Adviser: Towle & Co.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/0001592900/000159290026000359/ck0001592900-20251130.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $74.3M vs MV $83.9M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000359/ck0001592900-20251130.htm","sec_ncsr_search_term":"cost of the contributed securities as of July 16, 2025","sec_prospectus_result":"Prospectus references Section 351","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001186/towlevalueetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TCV/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000359/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000359","filed":"2026-01-30","sha256":"6eb2f6464d10e713"},{"img":"evidence/TCV/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000359/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000359","filed":"2026-01-30","sha256":"6eb2f6464d10e713"},{"img":"evidence/TCV/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000359/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000359","filed":"2026-01-30","sha256":"6eb2f6464d10e713"},{"img":"evidence/TCV/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000359/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000359","filed":"2026-01-30","sha256":"6eb2f6464d10e713"},{"img":"evidence/TCV/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001186/towlevalueetf.htm","form":"497K","accession":"0001592900-26-001186","filed":"2026-03-16","sha256":"f12b92c9d7b10fdc"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":104.8,"latest_aum_date":"2026-09-16","aum_change":20.9,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-11-30","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"AAUS","fund_name":"Alpha Architect US Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Alpha Architect, LLC)","launch_date":"2025-07-22","launch_aum":445.85,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-22","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":118.47,"embedded_gains":327.4,"expense_ratio":0.15,"gross_expense_ratio":0.15,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"in-kind contribution from accounts managed by various investment advisers\" - multiple unrelated advisers contributing through Alpha Architect open 351 exchange platform","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","secondary_source_quote":"ETF.com: \"The syndicated 351 exchange structure allowed individuals and financial advisors' clients to contribute appreciated securities to seed the ETF.\" Daily Upside: \"We're basically the only firm in the world that does syndicated 351s.\" Named RIAs: Ritholtz Wealth, Raub Brock, Burke Wealth, Cambria Investment Management.","secondary_source_link":"https://www.etf.com/sections/etf-watch/new-alpha-architect-etf-aaus-launches-445m-assets","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by advisers, cost basis $118.5M vs MV $445.8M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","sec_ncsr_search_term":"non-taxable transaction","sec_prospectus_result":"Prospectus contains Section 351 language","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000390/alphaarchitectusequityetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":"Press release confirms 351 Exchange","news_marketing_link":"https://funds.alphaarchitect.com/aaus/","news_marketing_search_term":"351 Exchange","cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/AAUS/seed_and_basis.webp","caption":"The in-kind contribution: seed value, cost basis, and who contributed","backs":"launch_aum, cost_basis, embedded_gains, launch_date, transferor_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","form":"N-CSR","accession":"0001592900-25-004114","filed":"2025-12-02","sha256":"d6084253371c5cc2"},{"img":"evidence/AAUS/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","form":"N-CSR","accession":"0001592900-25-004114","filed":"2025-12-02","sha256":"d6084253371c5cc2"},{"img":"evidence/AAUS/trust.webp","caption":"The registrant: AAUS is a series of EA Series Trust","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","form":"N-CSR","accession":"0001592900-25-004114","filed":"2025-12-02","sha256":"d6084253371c5cc2"},{"img":"evidence/AAUS/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004114/ck0001592900-20250930.htm","form":"N-CSR","accession":"0001592900-25-004114","filed":"2025-12-02","sha256":"d6084253371c5cc2"},{"img":"evidence/AAUS/expense_ratio.webp","caption":"The fee table backing the 0.15% net expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000390/alphaarchitectusequityetf.htm","form":"497K","accession":"0001592900-26-000390","filed":"2026-02-02","sha256":"a60c45cc303234bb"}],"pending_reorg":"Guru Favorite Stocks ETF (GFGF) reorganizes into AAUS on or about 2026-10-23, tax-free under IRC 368(a). GFGF trading is suspended after the close on 2026-10-22. No shareholder vote (Rule 17a-8, affiliated funds). AAUS launch AUM and cost basis are 351 figures and must not absorb the GFGF assets: restate nothing, and when the next N-CSR lands, read the in-kind contribution line for the 351 seed only.","pending_reorg_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003781/n-14registrationstatementg.htm","expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":503.3,"latest_aum_date":"2026-09-16","aum_change":57.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-09-30","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"TIIV","fund_name":"AAM Todd International Intrinsic Value ETF","adviser":"Advisors Asset Management, Inc. (sub-adviser: Todd Asset Management LLC)","launch_date":"2025-07-24","launch_aum":18.1,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-24","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":12.76,"embedded_gains":5.3,"expense_ratio":0.54,"gross_expense_ratio":0.54,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"N-CSR: \"the AAM Todd International Intrinsic Value ETF received in-kind contributions from accounts managed by the Sub-Adviser and other entities which consisted of $18,103,952 of securities...the transaction was determined to be a non-taxable transaction by management.\" NOTE: \"other entities\" is ambiguous; could include pooled vehicles or non-individual accounts beyond Todd Asset Management SMA clients. Filing does not cite Section 351 by name.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by Sub-Adviser","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TIIV/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","form":"N-CSR","accession":"0001133228-26-000267","filed":"2026-01-09","sha256":"dc1d61c870563764"},{"img":"evidence/TIIV/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","form":"N-CSR","accession":"0001133228-26-000267","filed":"2026-01-09","sha256":"dc1d61c870563764"},{"img":"evidence/TIIV/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","form":"N-CSR","accession":"0001133228-26-000267","filed":"2026-01-09","sha256":"dc1d61c870563764"},{"img":"evidence/TIIV/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1540305/000113322826000267/aea-efp21048_ncsr.htm","form":"N-CSR","accession":"0001133228-26-000267","filed":"2026-01-09","sha256":"dc1d61c870563764"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"ETF Series Solutions","distributor":"Quasar Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Cohen & Company Ltd.","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":26.0,"latest_aum_date":"2026-09-16","aum_change":7.9,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-10-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"DAK","fund_name":"Dakota Active Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Dakota Wealth, LLC)","launch_date":"2025-07-29","launch_aum":34.9,"launch_aum_pending_ncsr":false,"contribution_date":"2025-07-29","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":13.92,"embedded_gains":21.0,"expense_ratio":0.43,"gross_expense_ratio":0.43,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $34,904,097 of securities which were recorded at their current value... the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of July 29, 2025, was $13,917,796.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","secondary_source_quote":"dakotawm.com/351exchange: \"Interested investors who are not clients may have the opportunity to inquire... At the time of the conversion anyone participating must have an executed IMA on file with Dakota.\" Citywire: \"originally designed to help the RIA relieve some of its clients' concentrated stock positions.\"","secondary_source_link":"https://www.dakotawm.com/351exchange/","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: non-taxable in-kind contribution, cost basis $13.9M vs MV $34.9M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","sec_ncsr_search_term":"non-taxable transaction","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/DAK/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000354","filed":"2026-01-30","sha256":"b51ed87634a60e23"},{"img":"evidence/DAK/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000354","filed":"2026-01-30","sha256":"b51ed87634a60e23"},{"img":"evidence/DAK/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000354","filed":"2026-01-30","sha256":"b51ed87634a60e23"},{"img":"evidence/DAK/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000354/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000354","filed":"2026-01-30","sha256":"b51ed87634a60e23"},{"img":"evidence/DAK/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001814/dakotaactiveequityetf.htm","form":"497K","accession":"0001592900-25-001814","filed":"2025-07-17","sha256":"e42be62f04825b1b"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":43.9,"latest_aum_date":"2026-09-16","aum_change":9.0,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-11-30","oi":0.04,"st":0.0,"lt":0.0,"roc":0.0,"total":0.04}],"has_351_evidence":true},{"ticker":"GKAT","fund_name":"Scharf Global Opportunity ETF","adviser":"Scharf Investments, LLC","launch_date":"2025-08-25","launch_aum":91.69,"launch_aum_pending_ncsr":false,"contribution_date":"2025-08-25","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":55.24,"embedded_gains":36.5,"expense_ratio":0.59,"gross_expense_ratio":0.59,"seeding_type":"hybrid","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: SMA accounts managed by Scharf Investments contributed $91.7M (cost $55.2M) via \u00a7351 in-kind contribution; predecessor Scharf Global Opportunity Fund MF ($448M) converted via \u00a7368(a) reorganization. Seed AUM reflects \u00a7351 portion only. RECODED 2026-08-30 from 'hybrid' to 'multi-same-ria'. The row measures the Section 351 leg only, and that leg is plural accounts under ONE adviser, which is multi-same-ria on this project's own definition. 'hybrid' means mixed sources inside a single contribution and here it was describing the SEPARATE 368 mutual fund conversion, which this row does not measure. TCV has the identical two-leg structure and was already coded multi-same-ria, so four structurally identical funds were coded two ways. AQEC remains the one genuine hybrid: contributions in-kind from two private funds AND client accounts of a trust affiliate, mixed sources in one contribution. Found by audit 2026-08-30.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","secondary_source_quote":"ETF Trends: \"These ETFs had long-term records as active mutual funds until the previous weekend when they were converted, and through a 351 exchange during that week, the ETFs pooled together more assets.\" PRNewswire: \"KAT and GKAT transform Scharf's flagship mutual fund strategies into ETFs.\" Both IRC 351 and 368 components publicly documented.","secondary_source_link":"https://www.morningstar.com/news/pr-newswire/20250826sf59411/kat-and-gkat-leap-into-market-with-approximately-890-million-largest-active-equity-etf-launch-of-2025","dominant_contributor_over_50pct":"unknown","sec_ncsr_result":"Confirmed: in-kind contribution from adviser accounts, cost basis $55.2M vs MV $91.7M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","sec_ncsr_search_term":"55,239,029","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"WealthBriefing: Marcus led the 351 conversion","news_marketing_link":"https://www.wealthbriefing.com/","news_marketing_search_term":"351 conversion","cap_gains_distributed":"yes","cap_gains_detail":"Distributed LT cap gains 4 of 5 years (predecessor Scharf Global Opportunity Fund). $3.23/sh (2022), $0.77/sh (2025).","evidence":[{"img":"evidence/GKAT/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/GKAT/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/GKAT/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/GKAT/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1027596/000089418926003031/scharfglobaloppetf497ksumm.htm","form":"497K","accession":"0000894189-26-003031","filed":"2026-01-30","sha256":"578325ddafbc726b"},{"img":"evidence/GKAT/providers.webp","caption":"The service providers of record","backs":"fund_counsel, distributor, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1027596/000089418925005483/ck0001027596-20250805.htm","form":"485BPOS","accession":"0000894189-25-005483","filed":"2025-08-05","sha256":"b1bccec7c5c4013c"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Advisors Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Sullivan & Worcester LLP","latest_aum":170.5,"latest_aum_date":"2026-09-16","aum_change":78.8,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2021-09-30","oi":0.23,"st":0.0,"lt":0.46,"roc":0.0,"total":0.69},{"fy":"2022-09-30","oi":0.3,"st":0.0,"lt":3.23,"roc":0.0,"total":3.53},{"fy":"2023-09-30","oi":0.33,"st":0.0,"lt":0.0,"roc":0.0,"total":0.33},{"fy":"2024-09-30","oi":0.41,"st":0.0,"lt":0.46,"roc":0.0,"total":0.87},{"fy":"2025-09-30","oi":0.61,"st":0.0,"lt":0.77,"roc":0.0,"total":1.38}],"has_351_evidence":true},{"ticker":"KAT","fund_name":"Scharf ETF","adviser":"Scharf Investments, LLC","launch_date":"2025-08-25","launch_aum":371.62,"launch_aum_pending_ncsr":false,"contribution_date":"2025-08-22","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":243.58,"embedded_gains":128.0,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"hybrid","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: SMA accounts managed by Scharf Investments contributed $371.6M (cost $243.6M) via \u00a7351 in-kind contribution; predecessor Scharf Fund MF (~$400M) converted via \u00a7368(a) reorganization with shareholder vote (98.49% in favor). Seed AUM reflects \u00a7351 portion only. RECODED 2026-08-30 from 'hybrid' to 'multi-same-ria'. The row measures the Section 351 leg only, and that leg is plural accounts under ONE adviser, which is multi-same-ria on this project's own definition. 'hybrid' means mixed sources inside a single contribution and here it was describing the SEPARATE 368 mutual fund conversion, which this row does not measure. TCV has the identical two-leg structure and was already coded multi-same-ria, so four structurally identical funds were coded two ways. AQEC remains the one genuine hybrid: contributions in-kind from two private funds AND client accounts of a trust affiliate, mixed sources in one contribution. Found by audit 2026-08-30.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","secondary_source_quote":"ETF Trends: \"These ETFs had long-term records as active mutual funds until the previous weekend when they were converted, and through a 351 exchange during that week, the ETFs pooled together more assets.\" PRNewswire: \"KAT and GKAT transform Scharf's flagship mutual fund strategies into ETFs.\" Both IRC 351 and 368 components publicly documented.","secondary_source_link":"https://www.morningstar.com/news/pr-newswire/20250826sf59411/kat-and-gkat-leap-into-market-with-approximately-890-million-largest-active-equity-etf-launch-of-2025","dominant_contributor_over_50pct":"unknown","sec_ncsr_result":"Confirmed: in-kind contribution from adviser accounts, cost basis $243.6M vs MV $371.6M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","sec_ncsr_search_term":"cost of the contributed securities as of August 22, 2025","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"WealthBriefing: Marcus led the 351 conversion. Largest active domestic equity ETF launch of 2025","news_marketing_link":"https://www.wealthbriefing.com/","news_marketing_search_term":"351 conversion","cap_gains_distributed":"yes","cap_gains_detail":"Distributed LT cap gains every year since 2021 (predecessor Scharf Fund history). $5.03/sh (2022), $4.07/sh (2024), $2.13/sh (2025).","evidence":[{"img":"evidence/KAT/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/KAT/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/KAT/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"},{"img":"evidence/KAT/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1027596/000089418926003028/scharfetf497ksummarypro1-2.htm","form":"497K","accession":"0000894189-26-003028","filed":"2026-01-30","sha256":"8edead0454e5c35d"},{"img":"evidence/KAT/providers.webp","caption":"The service providers of record","backs":"custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1027596/000089418925004393/scharfetfn-14.htm","form":"497","accession":"0000894189-25-004393","filed":"2025-06-09","sha256":"e3159cf7fd827d4a"},{"img":"evidence/KAT/distributions.webp","caption":"Capital gains actually distributed to shareholders","backs":"distributions, cap_gains_distributed","url":"https://www.sec.gov/Archives/edgar/data/1027596/000113322825013350/sar-efp19250_ncsr.htm","form":"N-CSR","accession":"0001133228-25-013350","filed":"2025-12-08","sha256":"b6eb17c31afc9fd8"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Advisors Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Sullivan & Worcester LLP","latest_aum":676.9,"latest_aum_date":"2026-09-16","aum_change":305.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2021-09-30","oi":0.37,"st":0.0,"lt":1.4,"roc":0.0,"total":1.77},{"fy":"2022-09-30","oi":0.38,"st":0.0,"lt":5.03,"roc":0.0,"total":5.41},{"fy":"2023-09-30","oi":0.31,"st":0.0,"lt":2.17,"roc":0.0,"total":2.48},{"fy":"2024-09-30","oi":0.4,"st":0.0,"lt":4.07,"roc":0.0,"total":4.47},{"fy":"2025-09-30","oi":0.64,"st":0.0,"lt":2.13,"roc":0.0,"total":2.77}],"has_351_evidence":true},{"ticker":"DIVE","fund_name":"Dana Concentrated Dividend ETF","adviser":"Tidal Investments LLC (sub-adviser: Dana Investment Advisors, Inc.)","launch_date":"2025-09-15","launch_aum":32.86,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":19.74,"embedded_gains":13.1,"expense_ratio":0.65,"gross_expense_ratio":0.65,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"received securities from one or more separately managed accounts (the Predecessor Accounts) managed by the Sub-Adviser","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"N-CSRS confirms a Section 351 in-kind contribution from separately managed accounts managed by the Sub-Adviser (Dana Investment Advisors); at-inception cost basis and market value in Note 1.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","sec_ncsr_search_term":"N-CSRS 2026-02-28 Note 1 Section 351 contribution","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/DIVE/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","form":"N-CSRS","accession":"0001999371-26-010341","filed":"2026-05-08","sha256":"167ed5822c0dd6c5"},{"img":"evidence/DIVE/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","form":"N-CSRS","accession":"0001999371-26-010341","filed":"2026-05-08","sha256":"167ed5822c0dd6c5"},{"img":"evidence/DIVE/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","form":"N-CSRS","accession":"0001999371-26-010341","filed":"2026-05-08","sha256":"167ed5822c0dd6c5"},{"img":"evidence/DIVE/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","form":"N-CSRS","accession":"0001999371-26-010341","filed":"2026-05-08","sha256":"167ed5822c0dd6c5"},{"img":"evidence/DIVE/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1742912/000199937125013131/dive-497k_091225.htm","form":"497K","accession":"0001999371-25-013131","filed":"2025-09-12","sha256":"a94635a3c0408a2f"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Tidal Trust I","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":48.3,"latest_aum_date":"2026-09-16","aum_change":15.4,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"DUNK","fund_name":"Dana Unconstrained Equity ETF","adviser":"Tidal Investments LLC (sub-adviser: Dana Investment Advisors, Inc.)","launch_date":"2025-09-15","launch_aum":118.24,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":59.36,"embedded_gains":58.9,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"received securities from one or more separately managed accounts (the Predecessor Accounts) managed by the Sub-Adviser","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1742912/000199937126010341/dana-ncsrs_022826.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"N-CSRS confirms a Section 351 in-kind contribution from separately managed accounts managed by the Sub-Adviser (Dana Investment Advisors); 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However, as the transaction was determined to be a non-taxable transaction by management, GEW elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of September 24, 2025, was $70,006,304, resulting in net unrealized appreciation on investments of $84,892,327 as of that date. As a result of the in-kind contribution, GEW issued 3,100,000 shares at a $49.97 per share net asset value.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000337/ck0001592900-20251130.htm","secondary_source_quote":"BusinessWire (Sep 2025): \"GEW launched with $150 million and it joins TAX and ENDW as Cambria's third 351 ETF Exchange, which enable investors to contribute highly appreciated securities before launch in exchange for ETF shares.\" Cambria platform open to all advisers regardless of custodian.","secondary_source_link":"https://www.financialcontent.com/article/bizwire-2025-9-25-cambria-announces-launch-of-cambria-global-ew-etf-gew-joins-tax-and-endw-as-cambrias-third-351-etf-exchange","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution, cost basis $70.0M vs MV $154.9M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000337/ck0001592900-20251130.htm","sec_ncsr_search_term":"cost of the contributed securities as of September 24, 2025","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: Cambrias Third 351 ETF Exchange. 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(609,146 shares at $89.96 NAV)","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002823/ck0001592900-20260331.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/ATTR/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002823/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002823","filed":"2026-06-02","sha256":"42c95450cbadedb6"},{"img":"evidence/ATTR/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, 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LLC)","launch_date":"2025-11-20","launch_aum":73.39,"launch_aum_pending_ncsr":false,"contribution_date":"2025-11-20","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":31.38,"embedded_gains":42.0,"expense_ratio":0.45,"gross_expense_ratio":0.45,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"in-kind contribution from accounts managed by sub-adviser\" (ARS Investment Partners LLC) - plural SMA accounts","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: non-taxable transaction, cost basis $31.4M vs MV $73.4M","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","sec_ncsr_search_term":"non-taxable transaction","sec_prospectus_result":"Prospectus states Section 351 in-kind contributions. Not aware of corporate transferors","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003712/arscoreequityportfolio.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":"no","cap_gains_detail":"Zero capital gains distributions.","evidence":[{"img":"evidence/ACEP/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000357","filed":"2026-01-30","sha256":"cca105d60e52749e"},{"img":"evidence/ACEP/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000357","filed":"2026-01-30","sha256":"cca105d60e52749e"},{"img":"evidence/ACEP/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000357","filed":"2026-01-30","sha256":"cca105d60e52749e"},{"img":"evidence/ACEP/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000357/ck0001592900-20251130.htm","form":"N-CSRS","accession":"0001592900-26-000357","filed":"2026-01-30","sha256":"cca105d60e52749e"},{"img":"evidence/ACEP/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025003712/arscoreequityportfolio.htm","form":"497K","accession":"0001592900-25-003712","filed":"2025-11-12","sha256":"e5ec32b279214269"},{"img":"evidence/ACEP/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001393/ck0001592900-20250131.htm","form":"485BPOS","accession":"0001592900-25-001393","filed":"2025-05-30","sha256":"df6c637061f67a3a"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":104.0,"latest_aum_date":"2026-09-16","aum_change":30.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-11-30","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"VMSB","fund_name":"Voya Multi-Sector Income ETF","adviser":"Voya Investment Management Co. 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One pooled vehicle, so transferor_type is pooled and transferor_source would be 'mutual-fund'.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126012437/voya-ncsr_033126.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"N-CSR (Tidal Trust IV, filed 2026-06-09, period ended 2026-03-31) states the Section 351\n qualification in terms and gives both figures: market value $107,000,000, cost basis $109,859,831.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126012437/voya-ncsr_033126.htm","sec_ncsr_search_term":"Section 351 tax-deferred contribution, Contributed Assets","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/VMSB/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126012437/voya-ncsr_033126.htm","form":"N-CSR","accession":"0001999371-26-012437","filed":"2026-06-09","sha256":"75f811b12957e725"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 03/31; first N-CSR covering launch (period 2026-03-31) expected ~Jun 2026","fund_trust":"Tidal Trust IV","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":315.2,"latest_aum_date":"2026-09-16","aum_change":208.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AAEQ","fund_name":"Alpha Architect US Equity 2 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Alpha Architect, LLC)","launch_date":"2025-12-09","launch_aum":479.66,"launch_aum_pending_ncsr":false,"contribution_date":"2025-12-09","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":124.12,"embedded_gains":355.5,"expense_ratio":0.15,"gross_expense_ratio":0.15,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"497K prospectus: generic Section 351 risk language only (\"one or more in-kind contributions...governed by Section 351\"). \"Non-corporate transferors\" and \"open platform\" language not in this filing. Open classification inferred from AAUS N-CSR (same Alpha Architect platform: \"various investment advisers\") and fund breadth (same structure).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004149/alphaarchitectusequity2etf.htm","secondary_source_quote":"Daily Upside: \"~$470M seeded in-kind via 351; $150K minimum at Schwab, $5M at Fidelity.\" Tax Alpha Insider: \"Both [AAUS and AAEQ] were seeded in-kind using a Section 351 transfer.\" Alpha Architect platform confirmed syndicated multi-adviser open structure.","secondary_source_link":"https://www.thedailyupside.com/etf/investing-strategies-etf/latest-351-exchange-trick-a-150000-minimum/","dominant_contributor_over_50pct":"no","sec_ncsr_result":"Confirmed: in-kind contribution from accounts managed by various investment advisers, $479,661,585 market value, cost $124,117,012, unrealized appreciation $355,544,573","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","sec_ncsr_search_term":"non-taxable exchange","sec_prospectus_result":"Prospectus states Section 351 in-kind contributions from non-corporate transferors","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004149/alphaarchitectusequity2etf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AAEQ/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAEQ/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAEQ/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAEQ/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAEQ/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004149/alphaarchitectusequity2etf.htm","form":"497K","accession":"0001592900-25-004149","filed":"2025-12-04","sha256":"28f134aa66943132"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":509.5,"latest_aum_date":"2026-09-16","aum_change":29.8,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"WSGE","fund_name":"Warren Street Global Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Warren Street Wealth Advisors, LLC)","launch_date":"2025-12-09","launch_aum":38.93,"launch_aum_pending_ncsr":false,"contribution_date":"2025-12-08","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":17.39,"embedded_gains":21.5,"expense_ratio":0.8,"gross_expense_ratio":0.8,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $38,930,491 of securities which were recorded at their current value...the Fund elected to retain the securities original cost basis for tax purposes. The cost of the contributed securities as of December 8, 2025, was $17,391,824","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001537/ck0001592900-20260131.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"N-CSRS confirmed: in-kind contribution at inception Dec 8, 2025; $38,930,491 market value; cost basis $17,391,824; accounts managed by Sub-Adviser","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001537/ck0001592900-20260131.htm","sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus: In-Kind Contribution Risk / Section 351 of the Code","sec_prospectus_link":"https://etfarchitect.com/wp-content/uploads/compliance/etf/statutory_prospectus/WarrenStreet_Prospectus.pdf","sec_prospectus_search_term":"In-Kind Contribution Risk","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/WSGE/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001537/ck0001592900-20260131.htm","form":"N-CSRS","accession":"0001592900-26-001537","filed":"2026-03-31","sha256":"0a2ed0f4e8e07c0b"},{"img":"evidence/WSGE/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001537/ck0001592900-20260131.htm","form":"N-CSRS","accession":"0001592900-26-001537","filed":"2026-03-31","sha256":"0a2ed0f4e8e07c0b"},{"img":"evidence/WSGE/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001537/ck0001592900-20260131.htm","form":"N-CSRS","accession":"0001592900-26-001537","filed":"2026-03-31","sha256":"0a2ed0f4e8e07c0b"},{"img":"evidence/WSGE/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002737/warrenstreetglobalequityetf.htm","form":"497K","accession":"0001592900-25-002737","filed":"2025-09-24","sha256":"db59071265f18f4a"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":62.1,"latest_aum_date":"2026-09-16","aum_change":23.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"XCHG","fund_name":"AB US Equity ETF","adviser":"AllianceBernstein L.P.","launch_date":"2025-12-12","launch_aum":658.43,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2025-12-31","cost_basis":null,"embedded_gains":null,"expense_ratio":0.5,"gross_expense_ratio":0.5,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"Press release: \"By leveraging the 351-exchange mechanism to seed XCHG. Bernstein Private Wealth client assets contributed\"","transferor_type_source_link":"https://www.prnewswire.com/news-releases/alliancebernstein-launches-ab-us-equity-etf-xchg-on-the-new-york-stock-exchange-302641678.html","secondary_source_quote":"PRNewswire (Dec 2025): \"By leveraging the 351-exchange mechanism to seed XCHG... developed in collaboration with our Bernstein Private Wealth Management team.\" Benzinga: \"launch makes use of a 351-exchange mechanism at seeding.\" Note: exact \"client assets contributed\" language in primary quote field needs N-CSR verification.","secondary_source_link":"https://www.prnewswire.com/news-releases/alliancebernstein-launches-ab-us-equity-etf-xchg-on-the-new-york-stock-exchange-302641678.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: \"leveraging the 351-exchange mechanism to seed XCHG\"","news_marketing_link":"https://www.prnewswire.com/news-releases/alliancebernstein-launches-ab-us-equity-etf-xchg-on-the-new-york-stock-exchange-302641678.html","news_marketing_search_term":"351-exchange mechanism","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/XCHG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1496608/000091957426004699/d161945dex99h10.htm","form":"485BPOS","accession":"0000919574-26-004699","filed":"2026-07-30","sha256":"7c4fe1863311b893"},{"img":"evidence/XCHG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1496608/000119312525312962/d934006d497k.htm","form":"497K","accession":"0001193125-25-312962","filed":"2025-12-09","sha256":"cf0b75e7bcc8239d"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"AB Active ETFs, Inc.","distributor":"Foreside Fund Services, LLC","custodian":"State Street Bank and Trust Company","auditor":"Ernst & Young LLP","fund_counsel":"Seward & Kissel LLP","latest_aum":714.7,"latest_aum_date":"2026-09-16","aum_change":56.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":false},{"ticker":"USEW","fund_name":"Cambria US EW ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, LP)","launch_date":"2025-12-17","launch_aum":185.83,"launch_aum_pending_ncsr":false,"contribution_date":"2025-12-17","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":76.4,"embedded_gains":109.4,"expense_ratio":0.3,"gross_expense_ratio":0.3,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"Cambria press release: open 351 exchange seeded by \"individual investors and advisors who exchanged separate account holdings\" - multiple unrelated contributors","transferor_type_source_link":"https://www.cambriafunds.com/351","secondary_source_quote":"BusinessWire (Dec 2025): \"USEW joins TAX, ENDW, and GEW as Cambria's Fourth 351 ETF Exchange.\" cambriainvestments.com/351: open to individual investors, RIAs, and institutions regardless of custodian.","secondary_source_link":"https://www.businesswire.com/news/home/20251218998937/en/Cambria-Announces-Launch-of-Cambria-US-EW-ETF-USEW-Joins-TAX-ENDW-and-GEW-as-Cambrias-Fourth-351-ETF-Exchange","dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Press release: Cambrias Fourth 351 ETF Exchange. Launched with $185.8M","news_marketing_link":"https://www.cambriafunds.com/351","news_marketing_search_term":"351 ETF Exchange","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/USEW/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003844/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003844","filed":"2026-08-04","sha256":"68fe1c61dac53586"},{"img":"evidence/USEW/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003844/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003844","filed":"2026-08-04","sha256":"68fe1c61dac53586"},{"img":"evidence/USEW/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003844/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003844","filed":"2026-08-04","sha256":"68fe1c61dac53586"},{"img":"evidence/USEW/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003844/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003844","filed":"2026-08-04","sha256":"68fe1c61dac53586"},{"img":"evidence/USEW/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004132/cambriausewetf.htm","form":"497K","accession":"0001592900-25-004132","filed":"2025-12-04","sha256":"35a9e735a0ed0e4a"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"EA Series Trust","distributor":"ALPS Distributors, Inc.","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":192.0,"latest_aum_date":"2026-09-16","aum_change":6.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"FFF","fund_name":"Founders 100 ETF","adviser":"Founder ETFs, LLC","launch_date":"2025-12-18","launch_aum":0.65,"launch_aum_pending_ncsr":false,"contribution_date":"2025-12-17","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":0.29,"embedded_gains":0.4,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"N-CSR: \"non-taxable in-kind contribution of $651,812 in securities with cost basis $287,435\" - scale and structure consistent with single contributor or very few","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"yes","sec_ncsr_result":"Confirmed: non-taxable in-kind contribution, cost basis $287K vs MV $652K","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","sec_ncsr_search_term":"original cost basis for tax purposes","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":"Contribution Deadline","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/FFF/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","form":"N-CSR","accession":"0001133228-26-003330","filed":"2026-03-09","sha256":"aad8e0b18015dc3b"},{"img":"evidence/FFF/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","form":"N-CSR","accession":"0001133228-26-003330","filed":"2026-03-09","sha256":"aad8e0b18015dc3b"},{"img":"evidence/FFF/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","form":"N-CSR","accession":"0001133228-26-003330","filed":"2026-03-09","sha256":"aad8e0b18015dc3b"},{"img":"evidence/FFF/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/2077057/000117152025000359/eps12349.htm","form":"497K","accession":"0001171520-25-000359","filed":"2025-12-02","sha256":"9f673d6cc9ac3cc8"},{"img":"evidence/FFF/providers.webp","caption":"The service providers of record","backs":"distributor, custodian","url":"https://www.sec.gov/Archives/edgar/data/2077057/000113322826003330/fft-efp22323_ncsr.htm","form":"N-CSR","accession":"0001133228-26-003330","filed":"2026-03-09","sha256":"aad8e0b18015dc3b"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Founder Funds Trust","distributor":"Vigilant LLC","custodian":"U.S. Bank N.A.","auditor":"Cohen & Company, Ltd.","fund_counsel":"Practus, LLP","latest_aum":6.3,"latest_aum_date":"2026-09-16","aum_change":5.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[{"fy":"2025-12-31","oi":0.0,"st":0.0,"lt":0.0,"roc":0.0,"total":0.0}],"has_351_evidence":true},{"ticker":"GARY","fund_name":"Mango Growth ETF","adviser":"KKM Financial LLC (sub-adviser: Savoie Capital LLC)","launch_date":"2025-12-19","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.77,"gross_expense_ratio":0.77,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"single","transferor_type_confidence":"low","transferor_type_quote":"NPORT-EX (portfolio holdings only, no Section 351 language). Single classification relies on marketing claim from Jeff Kilburg (RIA Channel, 2026-03-11): single family office contributor. No SEC filing evidence. Confidence downgraded.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/890540/000204825126002740/MangoGrowth_Schf.htm","secondary_source_quote":"RIA Channel (Jeff Kilburg interview, ~Mar 2026): \"The Mango Growth ETF (GARY) was seeded as a 351 conversion when a family office client contributed highly appreciated securities in exchange for a diversified portfolio while deferring its tax liability.\" NOTE: Source is fund sponsor's own marketing statement. No independent journalist or SEC filing corroboration exists.","secondary_source_link":"https://www.riachannel.com/kkm-financials-jeff-kilburg-on-the-year-of-the-stock-picker/","dominant_contributor_over_50pct":"yes","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"SAI contains Section 351 language (80% ownership / basis carryover)","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/890540/000139834425022601/fp0096610-1_485bposixbrl.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":"Sponsor on the record. Jeff Kilburg, co-founder and CEO of KKM Financial, the fund's adviser, describing GARY in a RIA Channel interview (2026-03-11): the fund was \"seeded as a 351 conversion when a family office client contributed highly appreciated securities in exchange for a diversified portfolio while deferring its tax liability.\" This is a first-person statement by the fund's own principal, not third-party inference, and it is the basis for classifying GARY. No source, including the sponsor, states a seed amount.","news_marketing_link":"https://www.riachannel.com/kkm-financials-jeff-kilburg-on-the-year-of-the-stock-picker/","news_marketing_search_term":"seeded as a 351 conversion when a family office client contributed highly appreciated securities","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/GARY/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/890540/000139834425022601/fp0096610-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022601","filed":"2025-12-17","sha256":"2a15e8f09beac55d"},{"img":"evidence/GARY/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/890540/000139834425022601/fp0096610-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022601","filed":"2025-12-17","sha256":"2a15e8f09beac55d"},{"img":"evidence/GARY/providers.webp","caption":"The service providers of record","backs":"fund_counsel, distributor","url":"https://www.sec.gov/Archives/edgar/data/890540/000139834425022601/fp0096610-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022601","filed":"2025-12-17","sha256":"2a15e8f09beac55d"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 10/31; first N-CSRS covering launch (period 2026-04-30) expected ~Jul 2026","fund_trust":"Advisors Inner Circle Fund II","distributor":"SEI Investments Distribution Co.","custodian":"Brown Brothers Harriman & Co.","auditor":"PricewaterhouseCoopers LLP","fund_counsel":"Morgan, Lewis & Bockius LLP","latest_aum":298.7,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":false},{"ticker":"TMLP","fund_name":"Tortoise MLP ETF","adviser":"Tortoise Capital Advisors, LLC","launch_date":"2025-12-23","launch_aum":36.43,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":23.38,"embedded_gains":13.0,"expense_ratio":0.5,"gross_expense_ratio":0.5,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"pooled","transferor_type_confidence":"high","transferor_type_quote":"the Tortoise MLP ETF received securities (the \u201cContributed Assets\u201d) from investors in a private fund (the \u201cPredecessor Accounts\u201d) managed by the Adviser in exchange for shares of the Fund. These transactions were structured to qualify as tax-deferred contributions under Section 351 of the Internal Revenue Code.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: Note 9 '351 EXCHANGE'; investors in a private fund contributed market value $36,425,060, cost $23,381,057, unrealized appreciation $13,044,003","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TMLP/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","form":"N-CSRS","accession":"0001133228-26-011282","filed":"2026-08-10","sha256":"d3177aec5461a672"},{"img":"evidence/TMLP/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","form":"N-CSRS","accession":"0001133228-26-011282","filed":"2026-08-10","sha256":"d3177aec5461a672"},{"img":"evidence/TMLP/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","form":"N-CSRS","accession":"0001133228-26-011282","filed":"2026-08-10","sha256":"d3177aec5461a672"},{"img":"evidence/TMLP/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/2034406/000113322826011282/tcst-efp25988_ncsrs.htm","form":"N-CSRS","accession":"0001133228-26-011282","filed":"2026-08-10","sha256":"d3177aec5461a672"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"Tortoise Capital Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":44.9,"latest_aum_date":"2026-09-16","aum_change":8.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"LCO","fund_name":"LOGIQ Contrarian Opportunities ETF","adviser":"Tidal Investments LLC (sub-adviser: LOGIQ Capital LLC)","launch_date":"2026-01-07","launch_aum":51.34,"launch_aum_pending_ncsr":false,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":27.45,"embedded_gains":23.9,"expense_ratio":1.13,"gross_expense_ratio":1.13,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"the LOGIQ Contrarian Opportunities ETF received securities (the \u201cContributed Assets\u201d) from one or more separately managed accounts (the \u201cPredecessor Accounts\u201d) managed by the Sub-Adviser in exchange for shares... These transactions qualified as tax-deferred contributions under Section 351 of the Internal Revenue Code.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: separately managed accounts contributed securities of $51,339,687, cost $27,451,388, unrealized appreciation $23,888,299; explicit Section 351","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/LCO/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","form":"N-CSRS","accession":"0001999371-26-017226","filed":"2026-08-06","sha256":"5aaf383df7888bdd"},{"img":"evidence/LCO/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","form":"N-CSRS","accession":"0001999371-26-017226","filed":"2026-08-06","sha256":"5aaf383df7888bdd"},{"img":"evidence/LCO/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","form":"N-CSRS","accession":"0001999371-26-017226","filed":"2026-08-06","sha256":"5aaf383df7888bdd"},{"img":"evidence/LCO/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/2043390/000199937126017226/lco-ncsrs_053126.htm","form":"N-CSRS","accession":"0001999371-26-017226","filed":"2026-08-06","sha256":"5aaf383df7888bdd"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"Tidal Trust IV","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":59.5,"latest_aum_date":"2026-09-16","aum_change":8.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AVRY","fund_name":"Avory Foundational ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Avory & Co.)","launch_date":"2026-01-21","launch_aum":7.71,"launch_aum_pending_ncsr":false,"contribution_date":"2026-01-21","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":6.94,"embedded_gains":0.8,"expense_ratio":0.89,"gross_expense_ratio":0.89,"seeding_type":"proprietary","seeding_type_confidence":"low","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"As part of the Fund's commencement of operations on January 21, 2026, the Fund received an in-kind contribution from accounts managed by the Sub-Adviser, which consisted of $7,706,956 of securities.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003831/ck0001592900-20260531.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus states Section 351 in-kind contributions. Not aware of corporate transferors","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004481/avoryfoundationaletf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AVRY/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003831/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003831","filed":"2026-08-04","sha256":"fb443748591bb48d"},{"img":"evidence/AVRY/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003831/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003831","filed":"2026-08-04","sha256":"fb443748591bb48d"},{"img":"evidence/AVRY/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003831/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003831","filed":"2026-08-04","sha256":"fb443748591bb48d"},{"img":"evidence/AVRY/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003831/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003831","filed":"2026-08-04","sha256":"fb443748591bb48d"},{"img":"evidence/AVRY/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004481/avoryfoundationaletf.htm","form":"497K","accession":"0001592900-25-004481","filed":"2025-12-31","sha256":"c0dda97703847861"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":72.8,"latest_aum_date":"2026-09-16","aum_change":65.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"BPRO","fund_name":"Bitwise Proficio Currency Debasement ETF","adviser":"Bitwise Investment Advisers, LLC","launch_date":"2026-01-21","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":null,"gross_expense_ratio":null,"seeding_type":"public","seeding_type_confidence":"medium","transferor_type":null,"transferor_type_confidence":null,"transferor_type_quote":"NOT CLASSIFIED. The prospectus establishes PLURAL contributors and nothing more: \"the bases of the assets contributed by the initial contributors\" and \"A Section 351 transaction with multiple contributors requires that certain facts would be true in respect of all the initial contributors.\" It names no adviser and no relationship among them. An audit on 2026-08-30 found 23 funds labelled multi-same-ria on exactly this kind of plurality-only text, so this one is left NULL rather than assigned. The first N-CSR covering the series should settle it.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1928561/000121390026005247/ea0272954-01_485bpos.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Effective 485BPOS states the fund was formed through a Section 351 transaction.","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1928561/000121390026005247/ea0272954-01_485bpos.htm","sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/BPRO/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1928561/000121390026005247/ea0272954-01_485bpos.htm","form":"485BPOS","accession":"0001213900-26-005247","filed":"2026-01-16","sha256":"78a7f0b2efbdd8f0"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 12/31; first N-CSRS covering launch (period 2026-06-30) expected ~Sep 2026","fund_trust":"Bitwise Funds Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":90.8,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"TOS","fund_name":"Twin Oak Strategic Solutions ETF","adviser":"Twin Oak ETF Company (sub-adviser: Exchange Traded Concepts, LLC)","launch_date":"2026-01-28","launch_aum":126.02,"launch_aum_pending_ncsr":false,"contribution_date":"2026-01-27","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":87.64,"embedded_gains":38.4,"expense_ratio":0.36,"gross_expense_ratio":0.76,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"N-CSRS: \"In connection with Twin Oak Strategic Solutions ETF's launch, a contribution of securities was made by certain investors (the 'Initial Investors') to the newly formed ETF. Each Initial Investor simultaneously and separately transferred solely a pool of diversified securities ('Contributed Assets') to the Fund in exchange for Fund shares with a net asset value equal to the market value of the Contributed Assets on the day of the contribution (the 'Contribution'). Each of the Initial Investors' basis in the ETF shares received with respect to the Contribution is equal to each of the Initial Investors' basis in the Contributed Assets. On January 27, 2026 ('Contribution Date'), the Initial Investors completed a tax-free contribution under Section 351(a) of the Internal Revenue Code of 1986, as amended. The Initial Investors contributed a total market value of $126,015,230 on the Contribution Date, which was comprised of a cost basis of assets contributed of $87,642,021 and unrealized appreciation of $38,373,209. The Contribution resulted in the issuance of 5,000,000 shares to the Initial Investors.\"","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"N-CSRS confirmed: in-kind contribution Jan 27, 2026; market value $126,015,230; cost basis $87,642,021; unrealized appreciation $38,373,209","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","sec_ncsr_search_term":null,"sec_prospectus_result":"SAI: \"tax-deferred contribution under Section 351 of the Code\"","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126002583/sass_485bpos-020426.htm","sec_prospectus_search_term":"Exchange of Stocks and Securities for Shares","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TOS/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-26-008691","filed":"2026-05-07","sha256":"f23ad282531d9e21"},{"img":"evidence/TOS/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-26-008691","filed":"2026-05-07","sha256":"f23ad282531d9e21"},{"img":"evidence/TOS/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-26-008691","filed":"2026-05-07","sha256":"f23ad282531d9e21"},{"img":"evidence/TOS/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426001050/fp0097209-2_497k.htm","form":"497K","accession":"0001398344-26-001050","filed":"2026-01-22","sha256":"e314857bd97f7881"},{"img":"evidence/TOS/providers.webp","caption":"The service providers of record","backs":"fund_counsel, distributor, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426008691/fp0096661-5_ncsrsixbrl.htm","form":"N-CSRS","accession":"0001398344-26-008691","filed":"2026-05-07","sha256":"f23ad282531d9e21"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"The RBB Fund Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank, N.A.","auditor":"Cohen & Company, Ltd.","fund_counsel":"Faegre Drinker Biddle & Reath LLP","latest_aum":155.2,"latest_aum_date":"2026-09-16","aum_change":29.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AVTM","fund_name":"Avantis Total Equity Markets ETF","adviser":"American Century Investment Management, Inc. (brand: Avantis Investors)","launch_date":"2026-01-29","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.22,"gross_expense_ratio":0.23,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"N-CSR (Feb 2026): Statement of changes shows $715,707,007 in in-kind subscriptions at launch (Avantis/American Century). Filing does NOT contain the standard \"accounts managed by the adviser/sub-adviser\" disclosure note. Multi-same-ria classification is reasonable given Avantis SMA structure but is not directly stated in the filing.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000068/ck0001710607-20260228.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":"N-CSRS filed 2026-04-27 (period Jan 29 - Feb 28, 2026): $715.7M in-kind subscriptions at inception; federal tax cost $141.9M. Avantis N-CSR format does not write explicit Section 351 language; carryover basis confirmed by tax cost disclosure.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000068/ck0001710607-20260228.htm","sec_ncsr_search_term":null,"sec_prospectus_result":"SEC prospectus references Section 351. SAI states fund expects initial portfolio with low tax basis","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000019/acetftavtm497k.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":"Daily Upside: \"most notable firm to launch ETF seeded via 351 exchanges.\" Reddit: \"$700M from converted client portfolios\"","news_marketing_link":"https://www.thedailyupside.com/etf/investing-strategies-etf/these-etfs-are-being-seeded-with-tax-free-exchanges/","news_marketing_search_term":"Avantis","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AVTM/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000019/acetftavtm497k.htm","form":"497K","accession":"0001710607-26-000019","filed":"2026-01-28","sha256":"eb835b8a29e8252d"},{"img":"evidence/AVTM/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000068/ck0001710607-20260228.htm","form":"N-CSRS","accession":"0001710607-26-000068","filed":"2026-04-27","sha256":"8db2ec5aa5fdf6c0"},{"img":"evidence/AVTM/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000019/acetftavtm497k.htm","form":"497K","accession":"0001710607-26-000019","filed":"2026-01-28","sha256":"eb835b8a29e8252d"},{"img":"evidence/AVTM/providers.webp","caption":"The service providers of record","backs":"custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060725000235/ck0001710607-20250708.htm","form":"485BPOS","accession":"0001710607-25-000235","filed":"2025-07-08","sha256":"5db7d9e2970e8d8e"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"American Century ETF Trust","distributor":"Foreside Fund Services, LLC","custodian":"State Street Bank and Trust Company","auditor":"Deloitte & Touche LLP","fund_counsel":"In-house (American Century)","latest_aum":792.8,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"BRES","fund_name":"Burney U.S. Equity Select ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: The Burney Company)","launch_date":"2026-02-04","launch_aum":599.02,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-02-27","cost_basis":null,"embedded_gains":null,"expense_ratio":0.79,"gross_expense_ratio":0.79,"seeding_type":"hybrid","seeding_type_confidence":"high","transferor_type":"multi-same-ria","transferor_type_confidence":"high","transferor_type_quote":"Burney press release (2026-02-05): \"Launching BRES with an even larger 351 tax-free conversion ensures all our clients have access to our best performing equity execution in the tax efficiency of an ETF wrapper.\" (Source: prnewswire.com/news-releases/burney-company-launches-second-etf-burney-us-equity-select-etf-bres-302677929.html) NOTE: PR says \"our clients\" only -- no evidence of outside-adviser contributors. Hybrid classification unconfirmed pending N-CSR. Compare: BRNY (same adviser, N-CSR confirmed multi-same-ria). First-hand confirmation from paper author (Brent Sullivan, May 2026): no mutual fund conversion; pure SMA-to-ETF 351 exchange.","transferor_type_source_link":"https://www.prnewswire.com/news-releases/burney-company-launches-second-etf-burney-us-equity-select-etf-bres-302677929.html","secondary_source_quote":"Burney Wealth (burneywealth.com/351-conversion-opportunity): \"allows investors to convert separately managed accounts into ETF shares completely tax-free.\" PRNewswire anniversary release: \"The 351 exchange worked well for our clients during the BRNY launch, and we're excited to offer this opportunity again.\" No mutual fund conversion referenced in any public source.","secondary_source_link":"https://burneywealth.com/351-conversion-opportunity","dominant_contributor_over_50pct":"unknown","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus states Section 351 in-kind contributions","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000298/burneyusequityselectetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":"Press release: \"Launching BRES with an even larger 351 tax-free conversion\"","news_marketing_link":"https://www.prnewswire.com/news-releases/burney-company-launches-second-etf-burney-us-equity-select-etf-bres-302677929.html","news_marketing_search_term":"351 tax-free conversion","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/BRES/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000298/burneyusequityselectetf.htm","form":"497K","accession":"0001592900-26-000298","filed":"2026-01-28","sha256":"658bfb760c5d5d49"},{"img":"evidence/BRES/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001900/easeriestrust-taagmtxamend.htm","form":"485BPOS","accession":"0001592900-25-001900","filed":"2025-07-29","sha256":"8d40ade5665ae09a"},{"img":"evidence/BRES/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000298/burneyusequityselectetf.htm","form":"497K","accession":"0001592900-26-000298","filed":"2026-01-28","sha256":"658bfb760c5d5d49"},{"img":"evidence/BRES/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000298/burneyusequityselectetf.htm","form":"497K","accession":"0001592900-26-000298","filed":"2026-01-28","sha256":"658bfb760c5d5d49"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 07/31; first N-CSR covering launch (period 2026-07-31) expected ~Oct 2026","fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":679.5,"latest_aum_date":"2026-09-16","aum_change":80.5,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"MIGO","fund_name":"MIG Core ETF","adviser":"Exchange Traded Concepts, LLC (sub-adviser: MIG Capital, LLC)","launch_date":"2026-02-20","launch_aum":536.34,"launch_aum_pending_ncsr":false,"contribution_date":"2026-02-20","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":361.58,"embedded_gains":174.8,"expense_ratio":0.45,"gross_expense_ratio":0.45,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"single","transferor_type_confidence":"high","transferor_type_quote":"a contribution of securities was made by a certain investor (the \u201cInitial Investor\u201d)... the Initial Investor completed a tax-free contribution under Section 351(a) of the Internal Revenue Code","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"Confirmed: Initial Investor contributed $536,336,760 market value, cost $361,579,274, unrealized appreciation $174,757,486; explicit Section 351(a)","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","sec_ncsr_search_term":"cost of the contributed securities","sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/MIGO/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","form":"N-CSRS","accession":"0001213900-26-082608","filed":"2026-07-29","sha256":"9f9d21bbf10b8e0a"},{"img":"evidence/MIGO/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","form":"N-CSRS","accession":"0001213900-26-082608","filed":"2026-07-29","sha256":"9f9d21bbf10b8e0a"},{"img":"evidence/MIGO/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","form":"N-CSRS","accession":"0001213900-26-082608","filed":"2026-07-29","sha256":"9f9d21bbf10b8e0a"},{"img":"evidence/MIGO/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1452937/000121390026082608/ea0298553-01_ncsrs.htm","form":"N-CSRS","accession":"0001213900-26-082608","filed":"2026-07-29","sha256":"9f9d21bbf10b8e0a"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"Exchange Traded Concepts Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":764.9,"latest_aum_date":"2026-09-16","aum_change":228.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"SASS","fund_name":"M.D. Sass Concentrated Value ETF","adviser":"M.D. Sass, LLC (sub-adviser: Tidal Investments LLC)","launch_date":"2026-03-04","launch_aum":70.0,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-03 approx","cost_basis":null,"embedded_gains":null,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"PRNewswire press release (March 4, 2026): SASS \"will launch with more than $70 million in seed capital from existing clients and company principals\" -- both client SMA accounts and firm principals contributed. Multi-same-ria classification supported (M.D. Sass manages client accounts). 485BPOS: in-kind contributions governed by Section 351.","transferor_type_source_link":"https://www.prnewswire.com/news-releases/md-sass-brings-high-conviction-value-strategy-to-etf-market-302703791.html","secondary_source_quote":"PRNewswire (Mar 2026): \"SASS will launch with more than $70 million in seed capital from existing clients and company principals.\" No external advisers or unrelated firms mentioned.","secondary_source_link":"https://www.prnewswire.com/news-releases/md-sass-brings-high-conviction-value-strategy-to-etf-market-302703791.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Pre-effective 485APOS contains In-Kind Contribution Risk and Section 351 language","sec_prospectus_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1618627&type=485&dateb=&owner=include&count=10","sec_prospectus_search_term":null,"news_marketing_result":"PRNewswire: SASS launched with over $70M from existing clients and company principals (March 4, 2026)","news_marketing_link":"https://www.prnewswire.com/news-releases/md-sass-brings-high-conviction-value-strategy-to-etf-market-302703791.html","news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/SASS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126003920/sass_497-022326.htm","form":"497","accession":"0001999371-26-003920","filed":"2026-02-23","sha256":"d51ef5f8b7f6baa7"},{"img":"evidence/SASS/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126012555/ex99-h1xv.htm","form":"485BPOS","accession":"0001999371-26-012555","filed":"2026-06-10","sha256":"1c23aa93b37f93cb"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 08/31; first N-CSR covering launch (period 2026-08-31) expected ~Nov 2026","fund_trust":"The RBB Fund Trust","distributor":"Quasar Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"PricewaterhouseCoopers LLP","fund_counsel":"Faegre Drinker Biddle & Reath LLP","latest_aum":66.7,"latest_aum_date":"2026-09-16","aum_change":-3.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AVOS","fund_name":"Avos Global Equities ETF","adviser":"Avos Capital Management LLC (sub-adviser), Empowered Funds LLC dba EA Advisers (adviser)","launch_date":"2026-03-05","launch_aum":90.0,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-03-20","cost_basis":null,"embedded_gains":null,"expense_ratio":0.64,"gross_expense_ratio":0.64,"seeding_type":"proprietary","seeding_type_confidence":"low","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"485BPOS prospectus: generic Section 351 risk language only. Fund had not yet launched at filing date. No N-CSR. \"Avos Capital Management SMA clients\" is an inference from adviser identity, not filing text.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000299/ck0001592900-20260128.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus: In-Kind Contribution Risk / Section 351 of the Code","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000299/ck0001592900-20260128.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AVOS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000299/ck0001592900-20260128.htm","form":"485BPOS","accession":"0001592900-26-000299","filed":"2026-01-28","sha256":"c4c7e8a904f1d5b3"},{"img":"evidence/AVOS/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000299/ck0001592900-20260128.htm","form":"485BPOS","accession":"0001592900-26-000299","filed":"2026-01-28","sha256":"c4c7e8a904f1d5b3"},{"img":"evidence/AVOS/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000301/avosglobalequitiesetf.htm","form":"497K","accession":"0001592900-26-000301","filed":"2026-01-29","sha256":"12088fff20ef04e8"},{"img":"evidence/AVOS/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000299/ck0001592900-20260128.htm","form":"485BPOS","accession":"0001592900-26-000299","filed":"2026-01-28","sha256":"c4c7e8a904f1d5b3"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 01/31; first N-CSRS covering launch (period 2026-07-31) expected ~Oct 2026","fund_trust":"EA Series Trust","distributor":"Quasar Distributors, LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":111.3,"latest_aum_date":"2026-09-16","aum_change":21.3,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"BCGS","fund_name":"Bancreek Global Select ETF","adviser":"Exchange Traded Concepts, LLC","launch_date":"2026-03-06","launch_aum":9.3,"launch_aum_pending_ncsr":false,"contribution_date":"2026-03-03","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":0.58,"embedded_gains":8.7,"expense_ratio":null,"gross_expense_ratio":null,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"single","transferor_type_confidence":"high","transferor_type_quote":"\"a contribution of securities was made by a certain investor (the 'Initial Investor') to the newly formed Fund\". Singular throughout, and the same construction the project reads as single for MIGO and SPYA.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1547950/000121390026082740/ea0297825-01_ncsrs.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":"N-CSRS names Section 351(a) and gives shares, market value, cost and unrealized appreciation.","sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1547950/000121390026082740/ea0297825-01_ncsrs.htm","sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/BCGS/seed_and_basis.webp","caption":"The in-kind contribution: seed value and cost basis as filed","backs":"launch_aum, cost_basis, embedded_gains","url":"https://www.sec.gov/Archives/edgar/data/1547950/000121390026082740/ea0297825-01_ncsrs.htm","form":"N-CSRS","accession":"0001213900-26-082740","filed":"2026-07-29","sha256":"b60a8167bd6ca615"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"Exchange Listed Funds Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":41.4,"latest_aum_date":"2026-09-16","aum_change":32.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"VPX","fund_name":"Variant Perception Cycle Aware US Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Variant Perception, LLC)","launch_date":"2026-03-11","launch_aum":32.32,"launch_aum_pending_ncsr":false,"contribution_date":"2026-03-11","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":14.07,"embedded_gains":18.3,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"As part of the Fund's commencement of operations on March 11, 2026, received an in-kind contribution from separately managed accounts of various investment advisory firms, which consisted of $32,323,785 of securities.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003834/ck0001592900-20260531.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus states Section 351 in-kind contributions","sec_prospectus_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1592900&type=497K&dateb=&owner=include&count=10","sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/VPX/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003834/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003834","filed":"2026-08-04","sha256":"74c42edd77b3c889"},{"img":"evidence/VPX/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003834/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003834","filed":"2026-08-04","sha256":"74c42edd77b3c889"},{"img":"evidence/VPX/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003834/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003834","filed":"2026-08-04","sha256":"74c42edd77b3c889"},{"img":"evidence/VPX/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003834/ck0001592900-20260531.htm","form":"N-CSRS","accession":"0001592900-26-003834","filed":"2026-08-04","sha256":"74c42edd77b3c889"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 11/30; first N-CSRS covering launch (period 2026-05-31) expected ~Aug 2026","fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus LLP","latest_aum":46.4,"latest_aum_date":"2026-09-16","aum_change":14.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"NPFE","fund_name":"NPF Core Equity ETF","adviser":"NPF Investment Advisors (Norris Perne & French LLP)","launch_date":"2026-03-12","launch_aum":567.0,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-03-19","cost_basis":null,"embedded_gains":null,"expense_ratio":0.4,"gross_expense_ratio":0.4,"seeding_type":"proprietary","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"high","transferor_type_quote":"Business Wire: \"any investor holding highly appreciated, low-basis securities\" can contribute via the open 351 platform; not restricted to NPF Advisory clients","transferor_type_source_link":"https://finance.yahoo.com/news/npf-investment-advisors-launch-npf-140000385.html","secondary_source_quote":"BusinessWire pre-launch (Sep 2025): \"a Section 351 conversion opportunity is available to any investor holding highly appreciated positions in taxable accounts.\" GlobeNewswire launch (Mar 2026) confirms same open structure.","secondary_source_link":"https://finance.yahoo.com/news/npf-investment-advisors-launch-npf-140000385.html","dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":null,"sec_prospectus_link":null,"sec_prospectus_search_term":null,"news_marketing_result":"Business Wire: \"NPF Investment Advisors to Launch the NPF Core Equity ETF Using Innovative Section 351 Conversion Strategy.\" Listed on 351conversion.com. NPF website has dedicated 351 page. Crains Grand Rapids article","news_marketing_link":"https://finance.yahoo.com/news/npf-investment-advisors-launch-npf-140000385.html","news_marketing_search_term":"Section 351 Conversion Strategy","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/NPFE/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937125013661/ex99-g10.htm","form":"485BPOS","accession":"0001999371-25-013661","filed":"2025-09-19","sha256":"74b52ac27393a591"},{"img":"evidence/NPFE/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937125013739/npf_497k-092225.htm","form":"497K","accession":"0001999371-25-013739","filed":"2025-09-22","sha256":"ea075825d7dbcb29"},{"img":"evidence/NPFE/providers.webp","caption":"The service providers of record","backs":"fund_counsel, distributor, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937125013661/npf_485bpos-091925.htm","form":"485BPOS","accession":"0001999371-25-013661","filed":"2025-09-19","sha256":"625aaa98683eea3f"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 07/31; first N-CSR covering launch (period 2026-07-31) expected ~Oct 2026","fund_trust":"Elevation Series Trust","distributor":"Paralel Distributors LLC","custodian":"State Street Bank and Trust Company","auditor":"Cohen & Company, Ltd.","fund_counsel":"Thompson Hine LLP","latest_aum":667.1,"latest_aum_date":"2026-09-16","aum_change":100.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":false},{"ticker":"SQS","fund_name":"Sapient Quality Select ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Sapient Capital, LLC)","launch_date":"2026-03-13","launch_aum":1240.0,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-03-13 approx","cost_basis":null,"embedded_gains":null,"expense_ratio":0.8,"gross_expense_ratio":0.8,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"Prospectus: generic Section 351 in-kind risk language (\"one or more in-kind contributions...governed by Section 351\"). No N-CSR yet. No press release with seeding detail found. Multi-same-ria classification is an inference from Sapient Capital being a $23B RIA with institutional SMA clients.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001114/sapientqualityselectetf.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus states Section 351 in-kind contributions","sec_prospectus_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1592900&type=497K&dateb=&owner=include&count=10","sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/SQS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000103/sapientqualityselectetf.htm","form":"497K","accession":"0001592900-26-000103","filed":"2026-01-12","sha256":"c885295d1e282d78"},{"img":"evidence/SQS/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025004437/easeriestrust-adminagmtxam.htm","form":"485BPOS","accession":"0001592900-25-004437","filed":"2025-12-19","sha256":"fd1a8a65d6a3c33c"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 01/31; first N-CSRS covering launch (period 2026-07-31) expected ~Oct 2026","fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank N.A.","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus LLP","latest_aum":1403.2,"latest_aum_date":"2026-09-16","aum_change":163.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"MNVT","fund_name":"Moonvest ETF","adviser":"Moonvest LLC (sub-adviser), Empowered Funds LLC dba EA Advisers (adviser)","launch_date":"2026-03-17","launch_aum":24.43,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-03-20","cost_basis":null,"embedded_gains":null,"expense_ratio":0.75,"gross_expense_ratio":0.75,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"single","transferor_type_confidence":"medium","transferor_type_quote":"Fund website (mnvt-etf.com): \"the 2 portfolio managers are seeding the ETF with $10M+ of personal capital\" -- founders Venkatesh Basker and Bingkun Guo seeding with own capital, not client accounts. Prospectus: in-kind contributions governed by Section 351.","transferor_type_source_link":"https://mnvt-etf.com/","secondary_source_quote":"mnvt-etf.com (fund website): \"the 2 portfolio managers are together seeding the ETF with $10M+ of our personal capital.\" LinkedIn/X posts by founders Venkatesh Basker and Bingkun Guo confirm personal capital origin, no external investor accounts.","secondary_source_link":"https://mnvt-etf.com/","dominant_contributor_over_50pct":"yes","sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus: In-Kind Contribution Risk / Section 351 of the Code","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001179/ck0001592900-20260313.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":"Fund website explicitly states 2 portfolio managers seeding with personal capital (not client accounts)","news_marketing_link":"https://mnvt-etf.com/","news_marketing_search_term":"$10M+","cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/MNVT/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001179/ck0001592900-20260313.htm","form":"485BPOS","accession":"0001592900-26-001179","filed":"2026-03-13","sha256":"c817fefe7f5a8753"},{"img":"evidence/MNVT/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001179/ck0001592900-20260313.htm","form":"485BPOS","accession":"0001592900-26-001179","filed":"2026-03-13","sha256":"c817fefe7f5a8753"},{"img":"evidence/MNVT/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001179/ck0001592900-20260313.htm","form":"485BPOS","accession":"0001592900-26-001179","filed":"2026-03-13","sha256":"c817fefe7f5a8753"},{"img":"evidence/MNVT/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001181/moonvestetf.htm","form":"497K","accession":"0001592900-26-001181","filed":"2026-03-13","sha256":"6bb8d7b899e7befa"},{"img":"evidence/MNVT/providers.webp","caption":"The service providers of record","backs":"fund_counsel, custodian, auditor","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001179/ck0001592900-20260313.htm","form":"485BPOS","accession":"0001592900-26-001179","filed":"2026-03-13","sha256":"c817fefe7f5a8753"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 01/31; first N-CSRS covering launch (period 2026-07-31) expected ~Oct 2026","fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":76.0,"latest_aum_date":"2026-09-16","aum_change":51.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AAUA","fund_name":"Alpha Architect US Equity 3 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Alpha Architect, LLC)","launch_date":"2026-03-18","launch_aum":328.62,"launch_aum_pending_ncsr":false,"contribution_date":"2026-03-18","contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":104.86,"embedded_gains":223.8,"expense_ratio":0.15,"gross_expense_ratio":0.15,"seeding_type":"public","seeding_type_confidence":"high","transferor_type":"open","transferor_type_confidence":"medium","transferor_type_quote":"497K prospectus: generic Section 351 risk language only. \"827 holdings at launch\" is an observation, not filing language. Open classification inferred from AAUS N-CSR (confirmed \"various investment advisers\") and AAEQ (same Alpha Architect platform). No N-CSR filed yet.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001171/alphaarchitectusequity3etfa.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":"no","sec_ncsr_result":null,"sec_ncsr_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus states Section 351 in-kind contributions. Not aware of corporate transferors","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001171/alphaarchitectusequity3etfa.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AAUA/seed_and_basis.webp","caption":"The in-kind contribution: who contributed, the seed value, and the cost basis","backs":"launch_aum, cost_basis, embedded_gains, transferor_type, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAUA/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAUA/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAUA/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002832/ck0001592900-20260331.htm","form":"N-CSRS","accession":"0001592900-26-002832","filed":"2026-06-02","sha256":"1bd5cea54492f2e2"},{"img":"evidence/AAUA/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026001171/alphaarchitectusequity3etfa.htm","form":"497K","accession":"0001592900-26-001171","filed":"2026-03-13","sha256":"81a6bce444a75fd0"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 09/30; first N-CSRS covering launch (period 2026-03-31) expected ~Jun 2026","fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":363.8,"latest_aum_date":"2026-09-16","aum_change":35.2,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"GTND","fund_name":"Goaltender ETF","adviser":"Ritholtz Wealth Management LLC","launch_date":"2026-05-13","launch_aum":54.95,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026 approx","cost_basis":null,"embedded_gains":null,"expense_ratio":0.46,"gross_expense_ratio":0.46,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"Ritholtz Wealth Management LLC (PMs Ben Carlson and Michael Batnick). RIA client SMA seeding consistent with multi-same-ria classification. 497K confirms 351 language. Transferor details pending N-CSR.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002012/goaltenderetf.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497K confirms 351 in-kind contribution language.","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002011/ritholtzgoaltenderetfgtnd-a.htm","sec_prospectus_search_term":null,"news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/GTND/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002012/goaltenderetf.htm","form":"497K","accession":"0001592900-26-002012","filed":"2026-05-11","sha256":"d5d25622065bca0b"},{"img":"evidence/GTND/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002011/ritholtzgoaltenderetfgtnd-a.htm","form":"8-A12B","accession":"0001592900-26-002011","filed":"2026-05-11","sha256":"70c3101bd6ae49a8"},{"img":"evidence/GTND/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002012/goaltenderetf.htm","form":"497K","accession":"0001592900-26-002012","filed":"2026-05-11","sha256":"d5d25622065bca0b"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":54.4,"latest_aum_date":"2026-09-16","aum_change":-0.6,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"CVGD","fund_name":"CresAlta Global Dividend ETF","adviser":"CresAlta Capital Management, LLC","launch_date":"2026-05-18","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.5,"gross_expense_ratio":0.5,"seeding_type":"public","seeding_type_confidence":"medium","transferor_type":null,"transferor_type_confidence":null,"transferor_type_quote":"Transferor not classifiable from any filing as of 2026-08-27. The only Section 351 language is the 485BPOS prospectus statement that \"the initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors\", which is forward-looking, says only \"investors\", and does not distinguish clients of the adviser from unrelated contributors. Checked and rejected as sources: the 2026-05-26 40-APP is a manager-of-managers application and never mentions the seed; the trust's 2026-07-07 N-CSR and N-CSRS cover the period ended 2026-04-30, before the 2026-05-18 launch; and the NPORT-P filed 2026-06-29 reports net assets of zero at 2026-04-30 for both funds, confirming the period predates the contribution. Elevation Series Trust's fiscal year ends 4/30, so the first report covering the launch is the semiannual for the period ending 2026-10-31.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"485APOS states the initial capital raise is expected through in-kind contributions of securities from investors that may qualify for nonrecognition under Section 351. Listing certified 2026-05-14 (CERT CVGDCVSM051426).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/CVGD/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","form":"485APOS","accession":"0001999371-26-001135","filed":"2026-01-16","sha256":"6f66c859a412bfa5"},{"img":"evidence/CVGD/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","form":"485APOS","accession":"0001999371-26-001135","filed":"2026-01-16","sha256":"6f66c859a412bfa5"},{"img":"evidence/CVGD/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126009531/cvgd-497k_043026.htm","form":"497K","accession":"0001999371-26-009531","filed":"2026-04-30","sha256":"2f2ed64105721cf1"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 04/30; first N-CSRS covering launch (period 2026-10-31) expected ~Jan 2027","fund_trust":"Elevation Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":142.2,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"CVSM","fund_name":"CresAlta Small & Mid-Cap ETF","adviser":"CresAlta Capital Management, LLC","launch_date":"2026-05-18","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.55,"gross_expense_ratio":0.55,"seeding_type":"public","seeding_type_confidence":"medium","transferor_type":null,"transferor_type_confidence":null,"transferor_type_quote":"Transferor not classifiable from any filing as of 2026-08-27. The only Section 351 language is the 485BPOS prospectus statement that \"the initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors\", which is forward-looking, says only \"investors\", and does not distinguish clients of the adviser from unrelated contributors. Checked and rejected as sources: the 2026-05-26 40-APP is a manager-of-managers application and never mentions the seed; the trust's 2026-07-07 N-CSR and N-CSRS cover the period ended 2026-04-30, before the 2026-05-18 launch; and the NPORT-P filed 2026-06-29 reports net assets of zero at 2026-04-30 for both funds, confirming the period predates the contribution. Elevation Series Trust's fiscal year ends 4/30, so the first report covering the launch is the semiannual for the period ending 2026-10-31.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"485APOS states the initial capital raise is expected through in-kind contributions of securities from investors that may qualify for nonrecognition under Section 351. Listing certified 2026-05-14 (CERT CVGDCVSM051426).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/CVSM/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","form":"485APOS","accession":"0001999371-26-001135","filed":"2026-01-16","sha256":"6f66c859a412bfa5"},{"img":"evidence/CVSM/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126001135/cresalta_485apos-011626.htm","form":"485APOS","accession":"0001999371-26-001135","filed":"2026-01-16","sha256":"6f66c859a412bfa5"},{"img":"evidence/CVSM/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1936157/000199937126009533/cvsm-497k_043026.htm","form":"497K","accession":"0001999371-26-009533","filed":"2026-04-30","sha256":"d9dfd9e061b9cf24"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 04/30; first N-CSRS covering launch (period 2026-10-31) expected ~Jan 2027","fund_trust":"Elevation Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":95.1,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"PCLC","fund_name":"Polen 5Perspectives Large Growth ETF","adviser":"Polen Capital Management, LLC","launch_date":"2026-05-18","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.5,"gross_expense_ratio":0.5,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"single","transferor_type_confidence":"medium","transferor_type_quote":"The Adviser manages the assets of a separately managed account (the \u201cSMA\u201d)... transferred to the Fund in connection with the commencement of investment operations... pursuant to the consent of the holder of the SMA (the \u201cSMA Holder\u201d).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005405/fundvantage_497.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497 filed 2026-05-18 carries In-Kind Contribution Risk citing Section 351 and a Special Purpose Portfolio of Investments showing the SMA assets eligible for contribution: $1,196,746 of securities at cost $804,462 plus $11,050 cash as of 2026-03-31. Listing certified 2026-05-14 (CERT PCLC051426).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005405/fundvantage_497.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/PCLC/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005405/fundvantage_497.htm","form":"497","accession":"0001829126-26-005405","filed":"2026-05-18","sha256":"000717ebef88ed48"},{"img":"evidence/PCLC/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005405/fundvantage_497.htm","form":"497","accession":"0001829126-26-005405","filed":"2026-05-18","sha256":"000717ebef88ed48"},{"img":"evidence/PCLC/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005405/fundvantage_497.htm","form":"497","accession":"0001829126-26-005405","filed":"2026-05-18","sha256":"000717ebef88ed48"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 04/30; first N-CSRS covering launch (period 2026-10-31) expected ~Jan 2027","fund_trust":"FundVantage Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":1.7,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"PCSG","fund_name":"Polen 5Perspectives Small-Mid Growth ETF","adviser":"Polen Capital Management, LLC","launch_date":"2026-05-18","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":null,"gross_expense_ratio":null,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"single","transferor_type_confidence":"medium","transferor_type_quote":"The Adviser manages the assets of a separately managed account (the \u201cSMA\u201d)... pursuant to the consent of the holder of the SMA (the \u201cSMA Holder\u201d).","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005225/fundvantage_497.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497 filed 2026-05-14 carries In-Kind Contribution Risk citing Section 351 and a Special Purpose Portfolio of Investments showing SMA assets of $1,455,034 at cost $1,123,736. Listing certified 2026-05-14 (CERT PCSG051426).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005225/fundvantage_497.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/PCSG/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005225/fundvantage_497.htm","form":"497","accession":"0001829126-26-005225","filed":"2026-05-14","sha256":"1e394560957ba2cc"},{"img":"evidence/PCSG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005225/fundvantage_497.htm","form":"497","accession":"0001829126-26-005225","filed":"2026-05-14","sha256":"1e394560957ba2cc"},{"img":"evidence/PCSG/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626005225/fundvantage_497.htm","form":"497","accession":"0001829126-26-005225","filed":"2026-05-14","sha256":"1e394560957ba2cc"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":"FY ends 04/30; first N-CSRS covering launch (period 2026-10-31) expected ~Jan 2027","fund_trust":"FundVantage Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":2.6,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"BGIA","fund_name":"Baillie Gifford International Alpha ETF","adviser":"Baillie Gifford Overseas Limited","launch_date":"2026-06-03","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.59,"gross_expense_ratio":0.59,"seeding_type":"proprietary","seeding_type_confidence":"medium","transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"institutional separate accounts managed by the Manager may invest in a Fund (paired with the Section 351 launch-seed sentence). NOT the 368 conversion: the N-14 reorganizes three other Baillie Gifford funds, not International Alpha.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/2060280/000110465926067896/tm2615431d1_497.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Pure Section 351 in-kind seed from institutional separate accounts managed by the Manager; the mutual-fund International Alpha continues separately (not a 368 conversion).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/2060280/000110465925122185/tm2533177d1_n14.htm","sec_prospectus_search_term":"only Baillie Gifford International Alpha ETF intends to acquire assets through Section 351 in-kind contributions","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/BGIA/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/2060280/000110465926067896/tm2615431d1_497.htm","form":"497","accession":"0001104659-26-067896","filed":"2026-05-29","sha256":"3aedee19a76b49dc"},{"img":"evidence/BGIA/listing.webp","caption":"Commencement of operations and listing exchange","backs":"launch_date, exchange_listed","url":"https://www.sec.gov/Archives/edgar/data/2060280/000110465926067907/tm2615431d7_497k.htm","form":"497K","accession":"0001104659-26-067907","filed":"2026-05-29","sha256":"e5eb2055ad067ec9"},{"img":"evidence/BGIA/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/2060280/000110465925122185/tm2533177d1_n14.htm","form":"N-14","accession":"0001104659-25-122185","filed":"2025-12-18","sha256":"f1cdcf65aeb31d3c"},{"img":"evidence/BGIA/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/2060280/000110465925122185/tm2533177d1_n14.htm","form":"N-14","accession":"0001104659-25-122185","filed":"2025-12-18","sha256":"f1cdcf65aeb31d3c"},{"img":"evidence/BGIA/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/2060280/000110465926067896/tm2615431d1_497.htm","form":"497","accession":"0001104659-26-067896","filed":"2026-05-29","sha256":"3aedee19a76b49dc"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"Baillie Gifford ETF Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":332.5,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"AQLG","fund_name":"HCM Large Cap Growth ETF","adviser":"Highland Capital Management, LLC","launch_date":"2026-06-08","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.65,"gross_expense_ratio":0.65,"seeding_type":"proprietary","seeding_type_confidence":"low","transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"Generic one or more in-kind contributions Section 351 language; SAI PM Other Accounts (non-RIC, non-pooled) consistent with adviser SMA clients as seed source. Pending N-CSR.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000253/ck0001771146-20260129.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"Prospectus 497 (2026-04-27) carries the Section 351 initial in-kind contribution seed language; Highland Capital Management is the adviser, no predecessor mutual fund (no 368).","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","sec_prospectus_search_term":"Section 351 Contributions in-kind seed","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/AQLG/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"},{"img":"evidence/AQLG/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"},{"img":"evidence/AQLG/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"},{"img":"evidence/AQLG/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"ETF Opportunities Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":78.0,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"GEQ","fund_name":"Cambria Global Equal Weight 2 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, LP)","launch_date":"2026-06-09","launch_aum":207.19,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026 approx","cost_basis":null,"embedded_gains":null,"expense_ratio":0.27,"gross_expense_ratio":0.27,"seeding_type":"public","seeding_type_confidence":null,"transferor_type":"open","transferor_type_confidence":"medium","transferor_type_quote":"Cambria public 351 exchange, same structure as GEW and USEW. Classification mirrors GEW (transferor_type=open) pending the first N-CSR, which will state the contribution directly.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000764/cambriaglobalew2etf.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"In-Kind Contribution Risk: the Fund expects to acquire a material amount of assets through one or more in-kind contributions intended to qualify as tax-deferred transactions governed by Section 351.","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000764/cambriaglobalew2etf.htm","sec_prospectus_search_term":"In-Kind Contribution Risk; Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/GEQ/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000764/cambriaglobalew2etf.htm","form":"497K","accession":"0001592900-26-000764","filed":"2026-02-25","sha256":"56f08ca40a4df842"},{"img":"evidence/GEQ/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000764/cambriaglobalew2etf.htm","form":"497K","accession":"0001592900-26-000764","filed":"2026-02-25","sha256":"56f08ca40a4df842"},{"img":"evidence/GEQ/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002116/cambriaglobalew2etf.htm","form":"497K","accession":"0001592900-26-002116","filed":"2026-05-21","sha256":"3524823a9bb21ac2"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":210.3,"latest_aum_date":"2026-09-16","aum_change":3.1,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"DFAL","fund_name":"Dimensional US Large Cap Core Equity Market ETF","adviser":"Dimensional Fund Advisors LP","launch_date":"2026-06-18","launch_aum":1158.03,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":true,"launch_aum_proxy_as_of":"2026-07-13","cost_basis":null,"embedded_gains":null,"expense_ratio":0.12,"gross_expense_ratio":0.13,"seeding_type":"proprietary","seeding_type_confidence":null,"transferor_type":"multi-same-ria","transferor_type_confidence":"medium","transferor_type_quote":"4 institutional taxable client accounts of Dimensional Fund Advisors LP; pending N-CSR confirmation","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1816125/000181612526000096/c497k.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497K confirms 351 in-kind contribution language. 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No transferor category stated in the 497K; pending N-CSR.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002876/investmenthousegrowthetf.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497K states the Fund expects a material Section 351 in-kind contribution at launch.","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002876/investmenthousegrowthetf.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/TIH/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating, seeding_type","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002876/investmenthousegrowthetf.htm","form":"497K","accession":"0001592900-26-002876","filed":"2026-06-10","sha256":"b287f9d489a74765"},{"img":"evidence/TIH/trust.webp","caption":"The registrant: the trust this fund is a series of","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003260/easeriestrust-aretfcustody.htm","form":"485BPOS","accession":"0001592900-26-003260","filed":"2026-06-26","sha256":"8abd7b648a5b3390"},{"img":"evidence/TIH/adviser.webp","caption":"The adviser of record","backs":"sec_adviser_name","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002876/investmenthousegrowthetf.htm","form":"497K","accession":"0001592900-26-002876","filed":"2026-06-10","sha256":"b287f9d489a74765"},{"img":"evidence/TIH/expense_ratio.webp","caption":"The fee table behind the published expense ratio","backs":"net_expense_ratio, gross_expense_ratio","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002876/investmenthousegrowthetf.htm","form":"497K","accession":"0001592900-26-002876","filed":"2026-06-10","sha256":"b287f9d489a74765"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":"PINE Distributors LLC","custodian":"U.S. Bank National Association","auditor":"Tait, Weller & Baker LLP","fund_counsel":"Practus, LLP","latest_aum":717.0,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true},{"ticker":"OTAX","fund_name":"Optimal Tax Managed Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Optimal Tax Asset Management, Inc.)","launch_date":"2026-08-25","launch_aum":null,"launch_aum_pending_ncsr":true,"contribution_date":null,"contribution_date_note":null,"launch_aum_provisional":false,"launch_aum_proxy_as_of":null,"cost_basis":null,"embedded_gains":null,"expense_ratio":0.58,"gross_expense_ratio":0.58,"seeding_type":"proprietary","seeding_type_confidence":"low","transferor_type":"multi-same-ria","transferor_type_confidence":"low","transferor_type_quote":"Neither the 497K (2026-08-21) nor the 485APOS (2026-02-18) names the transferor: no \"accounts managed by\" clause, no separately-managed-account language, no client-of language. Assigned from the EA Series Trust sub-adviser structure alone, pending N-CSR.","transferor_type_source_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000428/optimaltax485a.htm","secondary_source_quote":null,"secondary_source_link":null,"dominant_contributor_over_50pct":null,"sec_ncsr_result":null,"sec_ncsr_link":null,"sec_ncsr_search_term":null,"sec_prospectus_result":"497K states the Fund expects a material Section 351 in-kind contribution at launch.","sec_prospectus_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003932/optimaltaxmanagedequityetfa.htm","sec_prospectus_search_term":"Section 351","news_marketing_result":null,"news_marketing_link":null,"news_marketing_search_term":null,"cap_gains_distributed":null,"cap_gains_detail":null,"evidence":[{"img":"evidence/OTAX/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000428/optimaltax485a.htm","form":"485APOS","accession":"0001592900-26-000428","filed":"2026-02-18","sha256":"189def11b8445eea"},{"img":"evidence/OTAX/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000428/optimaltax485a.htm","form":"485APOS","accession":"0001592900-26-000428","filed":"2026-02-18","sha256":"189def11b8445eea"},{"img":"evidence/OTAX/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026000428/optimaltax485a.htm","form":"485APOS","accession":"0001592900-26-000428","filed":"2026-02-18","sha256":"189def11b8445eea"}],"pending_reorg":null,"pending_reorg_link":null,"expected_ncsr":null,"fund_trust":"EA Series Trust","distributor":null,"custodian":null,"auditor":null,"fund_counsel":null,"latest_aum":42.0,"latest_aum_date":"2026-09-16","aum_change":null,"closed_date":null,"closed_reason":null,"closed_into":null,"closed_source_link":null,"distributions":[],"has_351_evidence":true}],"excluded":[{"ticker":"AFSC","fund_name":"abrdn Focused U.S. Small Cap Active ETF","adviser":"abrdn ETFs Advisors LLC","launch_date":"2025-02-14","launch_aum":9.76,"evidence":"Same 485BPOS: predecessor abrdn Focused U.S. Small Cap Equity Fund converted to ETF via \u00a7368 reorganization on 2025-02-14. No \u00a7351 SMA seeding.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"AGEM","fund_name":"abrdn Emerging Markets Dividend Active ETF","adviser":"abrdn ETFs Advisors LLC","launch_date":"2025-02-14","launch_aum":317.87,"evidence":"abrdn 485BPOS (2026-02-27, acc 0001133228-26-002629) SAI: \"Effective after the close of business on February 14, 2025, all assets of the Predecessor Funds were transferred to certain of the Funds, each in a tax-free reorganization.\" IRC 368, not 351. Only \u00a7351 reference in filing is standard creation-unit anti-avoidance boilerplate.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"AMUN","fund_name":"abrdn Ultra Short Municipal Income Active ETF","adviser":"abrdn ETFs Advisors LLC","launch_date":"2025-10-17","launch_aum":53.84,"evidence":"Same 485BPOS: predecessor abrdn Intermediate Municipal Income Fund converted to ETF via \u00a7368 reorganization on 2025-10-17. No \u00a7351 SMA seeding.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"ASCI","fund_name":"abrdn International Small Cap Active ETF","adviser":"abrdn ETFs Advisors LLC","launch_date":"2025-10-17","launch_aum":85.68,"evidence":"Same 485BPOS: predecessor abrdn International Small Cap Fund converted to ETF via \u00a7368 reorganization on 2025-10-17. No \u00a7351 SMA seeding.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"BBLU","fund_name":"EA Bridgeway Blue Chip ETF","adviser":null,"launch_date":null,"launch_aum":null,"evidence":"Mutual fund conversion (IRC 368). Inception date 07/31/1997 predates ETF wrapper by decades. Mentor confirmed 368 deal.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"BSVO","fund_name":"EA Bridgeway Omni Small-Cap Value ETF","adviser":null,"launch_date":null,"launch_aum":null,"evidence":"Mutual fund conversion (IRC 368). Inception date 12/31/2010 predates ETF wrapper. Mentor confirmed 368 deal.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"CAOS","fund_name":"Alpha Architect Tail Risk ETF","adviser":null,"launch_date":null,"launch_aum":null,"evidence":"Mutual fund conversion (IRC 368). Inception date 08/14/2013 predates ETF wrapper. Mentor confirmed 368 deal.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"CPD","fund_name":"The Snowball ETF","adviser":"Exchange Traded Concepts, LLC (sub-adviser: Snowball Advisors, LLC)","launch_date":null,"launch_aum":null,"evidence":"Detected as a Section 351 candidate in error and removed from the pipeline 2026-08-25. Its 485BPOS (cpd_485bpos-032426.htm) contains exactly one occurrence of 'Section 351', and that one is the Creation Unit clause reserving the Trust's right to reject a purchase order that would leave the purchaser owning 80% or more of the shares. That clause appears in most ETF prospectuses and says nothing about how a fund is seeded. The filing contains no occurrence of 'in-kind contribution', no reference to initial investors or seed capital, and its only three uses of 'contribute' concern price volatility, the Medicare contribution tax and market liquidity. Rated unlikely rather than definitely not, because an amended prospectus could add seeding language; recheck if one does.","conversion_flag":"Not a Section 351 candidate: only the Creation Unit rejection boilerplate."},{"ticker":"DDV","fund_name":"Defined Duration 5 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Orcam Financial Group, LLC dba Discipline Funds)","launch_date":"2025-11-12","launch_aum":0.249625,"evidence":"Prospectus contains zero Section 351 language. Fund-of-funds investing in other ETFs. Standard cash seeding.","conversion_flag":null},{"ticker":"DDX","fund_name":"Defined Duration 10 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Orcam Financial Group, LLC dba Discipline Funds)","launch_date":"2021-09-20","launch_aum":57.4295,"evidence":"Confirmed via SEC filings. N-CSRS 1/31/2022 shows: beginning-of-period net assets = $0, shares outstanding at start = 0, all capital from shares sold ($32.4M). Financial Highlights show inception NAV of $25.00 (standard cash-seed). No mention of Section 351, predecessor, in-kind contribution, non-taxable transfer, conversion, or reorganization in any N-CSR/N-CSRS filing (2022-2025) or initial 485BPOS prospectus. Only 351 reference is standard boilerplate about rejecting creation orders under IRC 351. Renamed from DSCF to DDX effective 11/5/2025 per 497 supplement filed 10/16/2025.","conversion_flag":null},{"ticker":"DDXX","fund_name":"Defined Duration 20 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Orcam Financial Group, LLC dba Discipline Funds)","launch_date":"2025-11-12","launch_aum":0.248234,"evidence":"Prospectus contains zero Section 351 language. Fund-of-funds. Standard cash seeding.","conversion_flag":null},{"ticker":"DVGR","fund_name":"DAC 3D Dividend Growth ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Dividend Assets Capital, LLC)","launch_date":"2025-12-05","launch_aum":6.497651,"evidence":"Section 584, not Section 351. The prospectus states the in-kind contribution is \"intended to qualify as a tax-deferred transaction governed by Section 584 of the Internal Revenue Code,\" the common trust fund provision. The N-CSRS filed 2026-03-31 confirms the mechanics: an in-kind contribution on 2025-12-04 from \"an account managed by the Sub-Adviser\" of $6,497,651 of securities, cost $4,069,036, net unrealized appreciation $2,428,615. Figures verified and they match Bloomberg, but the code section does not. Bloomberg includes DVGR in its 105 despite stating its methodology searched for explicit Section 351 citations; that is an error. Excluded by decision 2026-08-18.","conversion_flag":"Section 584 common trust fund transfer, not Section 351 individual seeding."},{"ticker":"HIS","fund_name":"Humilis US Focused Opportunities ETF","adviser":"Humilis","launch_date":"2026-05-13","launch_aum":null,"evidence":"Detected as a Section 351 candidate in error and removed from the pipeline 2026-08-25. No filing attributes a Section 351 seeding to this fund. Its own 485APOS (humilis485a.htm, filed 2026-02-27) contains zero occurrences of 'in-kind contribution', and its single 'Section 351' string sits about 280,000 characters from any mention of Humilis, in the trust-wide tax discussion that EA Series Trust carries for every series regardless of how it is seeded. The combined 485BPOS filed 2026-08-17 is the same: its four Section 351 passages are all in the statutory prospectus, more than 19,000 characters from the nearest fund heading. Contrast the Cloverpoint funds in the same trust, whose summaries each carry the fund-specific risk factor 'At its launch, the Fund expects to acquire assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351', 17 occurrences across the four. That sentence is the thing that makes a fund a 351 candidate, and Humilis does not have it. Rated unlikely rather than definitely not, because an amended prospectus could add the language; recheck if one does. HIS also appears to have launched: a 497K summary prospectus dated 2026-05-13 names the ticker and the Nasdaq listing, an 8-A12B was filed the same day and the exchange CERT followed on 2026-05-18. It was still carried as forthcoming three months later.","conversion_flag":"Not a Section 351 candidate: no in-kind contribution language in any filing."},{"ticker":"HISD","fund_name":"Humilis US Dividend Growth Opportunities ETF","adviser":"Humilis","launch_date":null,"launch_aum":null,"evidence":"Detected as a Section 351 candidate in error and removed from the pipeline 2026-08-25. No filing attributes a Section 351 seeding to this fund. Its own 485APOS (humilis485a.htm, filed 2026-02-27) contains zero occurrences of 'in-kind contribution', and its single 'Section 351' string sits about 280,000 characters from any mention of Humilis, in the trust-wide tax discussion that EA Series Trust carries for every series regardless of how it is seeded. The combined 485BPOS filed 2026-08-17 is the same: its four Section 351 passages are all in the statutory prospectus, more than 19,000 characters from the nearest fund heading. Contrast the Cloverpoint funds in the same trust, whose summaries each carry the fund-specific risk factor 'At its launch, the Fund expects to acquire assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351', 17 occurrences across the four. That sentence is the thing that makes a fund a 351 candidate, and Humilis does not have it. Rated unlikely rather than definitely not, because an amended prospectus could add the language; recheck if one does.","conversion_flag":"Not a Section 351 candidate: no in-kind contribution language in any filing."},{"ticker":"HISM","fund_name":"Humilis US SMID Focused ETF","adviser":"Humilis","launch_date":null,"launch_aum":null,"evidence":"Detected as a Section 351 candidate in error and removed from the pipeline 2026-08-25. No filing attributes a Section 351 seeding to this fund. Its own 485APOS (humilis485a.htm, filed 2026-02-27) contains zero occurrences of 'in-kind contribution', and its single 'Section 351' string sits about 280,000 characters from any mention of Humilis, in the trust-wide tax discussion that EA Series Trust carries for every series regardless of how it is seeded. The combined 485BPOS filed 2026-08-17 is the same: its four Section 351 passages are all in the statutory prospectus, more than 19,000 characters from the nearest fund heading. Contrast the Cloverpoint funds in the same trust, whose summaries each carry the fund-specific risk factor 'At its launch, the Fund expects to acquire assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351', 17 occurrences across the four. That sentence is the thing that makes a fund a 351 candidate, and Humilis does not have it. Rated unlikely rather than definitely not, because an amended prospectus could add the language; recheck if one does.","conversion_flag":"Not a Section 351 candidate: no in-kind contribution language in any filing."},{"ticker":"HISV","fund_name":"Humilis US Large Cap Fundamental Value ETF","adviser":"Humilis","launch_date":null,"launch_aum":null,"evidence":"Detected as a Section 351 candidate in error and removed from the pipeline 2026-08-25. No filing attributes a Section 351 seeding to this fund. Its own 485APOS (humilis485a.htm, filed 2026-02-27) contains zero occurrences of 'in-kind contribution', and its single 'Section 351' string sits about 280,000 characters from any mention of Humilis, in the trust-wide tax discussion that EA Series Trust carries for every series regardless of how it is seeded. The combined 485BPOS filed 2026-08-17 is the same: its four Section 351 passages are all in the statutory prospectus, more than 19,000 characters from the nearest fund heading. Contrast the Cloverpoint funds in the same trust, whose summaries each carry the fund-specific risk factor 'At its launch, the Fund expects to acquire assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351', 17 occurrences across the four. That sentence is the thing that makes a fund a 351 candidate, and Humilis does not have it. Rated unlikely rather than definitely not, because an amended prospectus could add the language; recheck if one does.","conversion_flag":"Not a Section 351 candidate: no in-kind contribution language in any filing."},{"ticker":"MAVF","fund_name":"Matrix Advisors Value ETF","adviser":null,"launch_date":null,"launch_aum":null,"evidence":"Mutual fund conversion (IRC 368). Inception date 09/16/1983 predates ETF wrapper by 40+ years. Mentor confirmed 368 deal.","conversion_flag":"Mutual fund conversion (IRC 368)"},{"ticker":"RJDI","fund_name":"RJ Eagle GCM Dividend Select Income ETF","adviser":"Eagle Asset Management (Raymond James)","launch_date":"2025-10-01","launch_aum":33.36484,"evidence":"497K prospectus had In-Kind Contribution Tax Risk + Section 351 language, but N-CSR (period ending 12/31/2025) shows in-kind purchases ($33.3M) are standard AP creation baskets, not a 351 seed. Fund was cash-seeded ($33.4M shares sold). 351 was planned but not executed.","conversion_flag":null},{"ticker":"RJMI","fund_name":"RJ Eagle Municipal Income ETF","adviser":"Eagle Asset Management (Raymond James)","launch_date":"2025-10-01","launch_aum":20.3215,"evidence":"497K prospectus had In-Kind Contribution Tax Risk + Section 351 language, but N-CSR (period ending 12/31/2025) shows $0 in-kind purchases. Fund was seeded entirely with cash ($20.3M shares sold, $0 in-kind). 351 was planned but not executed.","conversion_flag":null},{"ticker":"RJVI","fund_name":"RJ Eagle Vertical Income ETF","adviser":"Eagle Asset Management (Raymond James)","launch_date":"2025-10-01","launch_aum":9.98962,"evidence":"497K prospectus had In-Kind Contribution Tax Risk + Section 351 language, but N-CSR (period ending 12/31/2025) shows only standard AP creation basket in-kind activity ($1.5M), not a 351 seed. Fund was cash-seeded ($10.0M shares sold). 351 was planned but not executed.","conversion_flag":null},{"ticker":"SHUS","fund_name":"Syntax Stratified U.S. Total Market Hedged ETF","adviser":"Exchange Traded Concepts, LLC (index provider: Syntax Advisors, LLC)","launch_date":"2021-06-15","launch_aum":43.428299,"evidence":"No carryover basis, so no Section 351 exchange. Established from the AUDITED annual for FY2021, which supersedes the unaudited semiannual on every figure that matters. SHUS commenced 2021-06-15 with $4,064,100 of cash and securities at fair market of $39,364,199 against a contributor cost basis of $20,349,370, an embedded gain of $19,014,829. Four independent figures in the audited annual show that gain never entered the fund. Realised gain on in-kind redemptions of investment securities for the period 2021-06-15 to 2021-12-31 was NEGATIVE $1,262,708, not the large gain a fund washing out low-basis stock would report. Net change in unrealised appreciation was negative $667,342, a market-sized move rather than the disappearance of a $19M inherited gain. The reclassification of capital accounts for permanent book/tax differences was NEGATIVE $1,282,621 of paid-in capital, where the three sibling funds the same note names as carrying forward historical cost show POSITIVE reclassifications of $5,330,564, $420,525 and $3,071,315, which is the signature of non-taxable in-kind gains. And federal tax cost at 2021-12-31 was $42,636,565 with only $2,752,017 of net unrealised appreciation. All four agree with the note's own statement that fair value became the new cost basis for SHUS, and with its naming only the LargeCap, MidCap and SmallCap ETFs as carrying forward. NOTE FOR ANY FUTURE REVIEW: the UNAUDITED semiannual filed 2021-09-02 reports the opposite for the fortnight to 2021-06-30, an in-kind realised gain of $17,581,025 and a change in unrealised of negative $19,015,502, figures that would indicate carryover. Those numbers are superseded by the audit and must not be relied on; the annual period contains the semiannual one and the two cannot both stand. Bloomberg lists SHUS but carries no contributed value, cost basis or unrealised gain for it.","conversion_flag":"Mixed seed: affiliated LP funds plus undefined private accounts, no breakdown"},{"ticker":"SPYC","fund_name":"US Equity PLUS Convexity ETF","adviser":"Simplify Asset Management Inc.","launch_date":"2020-09-03","launch_aum":2.5183,"evidence":"No Section 351 language found in any SEC filing. Earliest N-CSRS (period 12/31/2020, acc# 0001398344-21-005336): Organization note lists SPYC with no mention of in-kind contributions, non-taxable transfers, or Section 351. Beginning NAV $25.00 (standard IPO). In-kind activity ($63.2M purchases, $3.3M sales) is standard ETF creation/redemption, not 351 seeding. IVV cost basis $59.8M vs market $66.3M reflects normal appreciation over Sep-Dec 2020, not embedded gains from a 351 transfer. EFTS searches for \"SPYC\" + \"section 351\", \"SPYC\" + \"in-kind contribution\", \"SPYC\" + \"non-taxable\" all return zero results across all SEC filings.","conversion_flag":null},{"ticker":"STNC","fund_name":"Hennessy Sustainable ETF","adviser":"Hennessy Advisors, Inc. (originally Stance Capital, LLC)","launch_date":"2021-03-16","launch_aum":27.4739,"evidence":"Launched 2021 as Stance Equity ESG ETF. 2023 N-14 filing was IRC Section 368 mutual fund merger reorganization, not Section 351. No 351 language in any filing.","conversion_flag":null},{"ticker":"SYII","fund_name":"Syntax Stratified Total Market II ETF","adviser":"Exchange Traded Concepts, LLC (index provider: Syntax Advisors, LLC)","launch_date":"2022-06-14","launch_aum":12.038326,"evidence":"No carryover basis, so no Section 351 exchange, on the same audited evidence as SHUS. The audited annuals for FY2021 and FY2022 name only the LargeCap, MidCap and SmallCap ETFs as carrying forward historical cost basis and state that fair value became the new cost basis for SYII. Its contribution on 2022-06-14 was $8,150,000 of cash plus securities at fair market of only $3,888,326 against a cost of $2,525,265, so two thirds of the seed was cash rather than appreciated securities in any case. Federal tax cost at 2022-12-31 was $7,490,059 with $381,353 of net unrealised appreciation, against $1,363,061 embedded at contribution. Bloomberg lists SYII but carries no contributed value, cost basis or unrealised gain for it.","conversion_flag":"Mixed seed, mostly cash: affiliated LP funds plus undefined private accounts"},{"ticker":"SYUS","fund_name":"Stratified LargeCap Index ETF","adviser":"Syntax Advisors, LLC (reorganized into SSPY 9/27/2024)","launch_date":"2021-03-19","launch_aum":25.4484,"evidence":"Standard ETF launch 2021. 2024 reorganization into SSPY was IRC 368 fund merger, not 351. SYUS ticker no longer exists. N-CSRS (2021-09-02) confirms: \"The Syntax Stratified U.S. Total Market ETF was seeded by cash only.\"","conversion_flag":null}],"pipeline":[{"ticker":"CGFS","fund_name":"CG Flagship Equity ETF","adviser":"EA Advisers (sub: CG Advisory Services)","filing_date":"2026-07-14","expected_launch":"2026-09-17","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003564/cgflagshipequityetf.htm","notes":"Ticker CGFS. EA Series Trust (CIK 1592900), sub-adviser CG Advisory Services. CERT 2026-07-13, 8-A12B/497K 2026-07-14 (497K states the Fund has not yet commenced operations). NOT in the symbol directory as of 2026-07-19 (not yet trading). ER 0.57, no predecessor MF. Section 351 in-kind launch seed. Move to confirmed once it lists. Expected listing 2026-09-17 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date. Second exchange CERT filed 2026-09-15 (accession 0001417835-26-000302), with 497K supplements 2026-09-09 and 2026-09-10. Not on the ETF Architect tracker as of 2026-09-16, so not yet trading; still on schedule for 2026-09-17.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":null,"repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/CGFS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003564/cgflagshipequityetf.htm","form":"497K","accession":"0001592900-26-003564","filed":"2026-07-14","sha256":"e8531d4c6812e8a9"}]},{"ticker":"TBD-LONGNOOK","fund_name":"Longnook Uncommon Compounders ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Longnook ETF LLC)","filing_date":"2026-07-14","expected_launch":"2026-09-29","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003562/longnook497a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-07-07 / 497 2026-07-14 (preliminary). Name changed from Longnook Uncommon Compounder (singular). Not launched. Ticker still unassigned as of 2026-08-15: the 497 filed 2026-07-14 (0001592900-26-003562) prints \"Ticker Symbol: [ ]\" and \"Fund Trading Symbol Longnook Uncommon Compounders ETF [ ]\", and the fund does not appear in the 2026-07-17 distribution agreement Exhibit A. A third-party pipeline sheet lists \"LUNC\"; unconfirmed, not adopted. Expected listing 2026-09-29 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date. 485BPOS filed 2026-09-15 (accession 0001592900-26-004240) makes the registration effective and repeats the Section 351 in-kind launch language. Ticker still unassigned as of 2026-09-16.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/TBD-LONGNOOK/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003562/longnook497a.htm","form":"497","accession":"0001592900-26-003562","filed":"2026-07-14","sha256":"479e7e3adf50c349"},{"img":"evidence/TBD-LONGNOOK/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003562/longnook497a.htm","form":"497","accession":"0001592900-26-003562","filed":"2026-07-14","sha256":"479e7e3adf50c349"},{"img":"evidence/TBD-LONGNOOK/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003562/longnook497a.htm","form":"497","accession":"0001592900-26-003562","filed":"2026-07-14","sha256":"479e7e3adf50c349"}]},{"ticker":"AAWE","fund_name":"3A All World Equity ETF","adviser":"3A Capital, LLC","filing_date":"2026-06-03","expected_launch":"2026-10-08","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002841/a3aallworldequityetf485afi.htm","notes":"EA Series Trust (CIK 1592900). 485APOS pre-effective, ticker TBD. Standard EA 351 in-kind seed language. Not launched. Ticker AAWE assigned: EA Series Trust ETF Distribution Agreement Exhibit A dated 2026-07-17 lists \"3A All World Equity ETF AAWE July 17, 2026\" (485BPOS 0001592900-26-003620). Expected listing 2026-10-08 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/AAWE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002841/a3aallworldequityetf485afi.htm","form":"485APOS","accession":"0001592900-26-002841","filed":"2026-06-03","sha256":"dc9e0d443b00987f"},{"img":"evidence/AAWE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002841/a3aallworldequityetf485afi.htm","form":"485APOS","accession":"0001592900-26-002841","filed":"2026-06-03","sha256":"dc9e0d443b00987f"},{"img":"evidence/AAWE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002841/a3aallworldequityetf485afi.htm","form":"485APOS","accession":"0001592900-26-002841","filed":"2026-06-03","sha256":"dc9e0d443b00987f"}]},{"ticker":"BWEM","fund_name":"Brickworks Extended Market ETF","adviser":"CapFinancial Partners, LLC dba CAPTRUST","filing_date":"2026-06-02","expected_launch":"2026-10-14","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS pre-effective, ticker TBD. Sub-adviser CAPTRUST. Standard EA 351 in-kind seed language. Sibling of Brickworks Core US Equity ETF (same filing). Ticker BWEM assigned: EA Series Trust ETF Distribution Agreement Exhibit A dated 2026-07-17 lists \"Brickworks Extended Market ETF BWEM July 17, 2026\" (485BPOS 0001592900-26-003620). Expected listing 2026-10-14 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/BWEM/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"},{"img":"evidence/BWEM/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"},{"img":"evidence/BWEM/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"}]},{"ticker":"SFSM","fund_name":"Sequoia Select SMID ETF","adviser":"Sequoia Financial Group, LLC","filing_date":"2026-05-29","expected_launch":"2026-10-22","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-05-29, five-fund Sequoia Select book. Not launched. Expected listing 2026-10-22 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/SFSM/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFSM/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFSM/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"}]},{"ticker":"SGIV","fund_name":"Significance Capital Enhanced Alpha ETF","adviser":"Significance Capital Management LLC","filing_date":null,"expected_launch":"2026-10-28","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002141/significancecapitalenhance.htm","notes":"NOT YET LAUNCHED. Not listed on any US exchange (absent from the NASDAQ and NYSE/Cboe symbol directories as of 2026-07-13), no trading history, no NPORT filed. A 485BPOS was filed but that only makes the registration effective; it does not list the fund. Previously recorded as launched on the 485BPOS/497K date. SGIV summary prospectus (2026-05-22): \"As of the date of this Prospectus, the Fund has not yet commenced operations.\" The website named in its prospectus does not resolve. Expected listing 2026-10-28 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/SGIV/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002141/significancecapitalenhance.htm","form":"497K","accession":"0001592900-26-002141","filed":"2026-05-22","sha256":"13272b0114ec8ff7"},{"img":"evidence/SGIV/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002141/significancecapitalenhance.htm","form":"497K","accession":"0001592900-26-002141","filed":"2026-05-22","sha256":"13272b0114ec8ff7"}]},{"ticker":"SFLG","fund_name":"Sequoia Select Large Growth ETF","adviser":"Sequoia Financial Group, LLC","filing_date":"2026-05-29","expected_launch":"2026-11-04","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-05-29, five-fund Sequoia Select book. Not launched. Expected listing 2026-11-04 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/SFLG/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFLG/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFLG/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"}]},{"ticker":"GEX","fund_name":"Cambria Global EW 3 ETF","adviser":"Cambria Investment Management, L.P.","filing_date":"2026-07-06","expected_launch":"2026-11-10","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003412/cambriaglobalew3etf.htm","notes":"NOT YET LAUNCHED. 497K dated 2026-07-06 states \"the Fund has not yet commenced operations\". No 485BPOS filed. Form 8-A filed 2026-05-11 (ticker assignment only), previously mistaken for a launch. Expected listing 2026-11-10 corroborated by the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":"https://www.cambriafunds.com/gex","marketing_note":"Cambria fund page: \"Anticipated Launch Date November 10, 2026\"; \"GEX is currently not available\"; Net Assets TBD; Fund Inception TBD.","prospectus_excerpt":"the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/GEX/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003412/cambriaglobalew3etf.htm","form":"497K","accession":"0001592900-26-003412","filed":"2026-07-06","sha256":"485f48646542fa28"},{"img":"evidence/GEX/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003412/cambriaglobalew3etf.htm","form":"497K","accession":"0001592900-26-003412","filed":"2026-07-06","sha256":"485f48646542fa28"}]},{"ticker":"AAUD","fund_name":"Alpha Architect US Equity 5 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Alpha Architect, LLC)","filing_date":"2026-06-09","expected_launch":"2026-11-19","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002858/ck0001592900-20260609.htm","notes":"EA Series Trust (CIK 1592900). 8-A12B 2026-06-09 filed but prospectus says not yet commenced. Do NOT confirm on filing date (GEX/DFAL rule). Sibling of AAEQ/AAUS/AAUA; seeding likely public/open. Expected listing 2026-11-19 per the EA Fund pipeline calendar (retrieved 2026-08-15). Issuer scheduling projection, not a filing-stated date.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/AAUD/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002858/ck0001592900-20260609.htm","form":"497","accession":"0001592900-26-002858","filed":"2026-06-09","sha256":"d3700eb346c74570"},{"img":"evidence/AAUD/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002858/ck0001592900-20260609.htm","form":"497","accession":"0001592900-26-002858","filed":"2026-06-09","sha256":"d3700eb346c74570"},{"img":"evidence/AAUD/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002858/ck0001592900-20260609.htm","form":"497","accession":"0001592900-26-002858","filed":"2026-06-09","sha256":"d3700eb346c74570"}]},{"ticker":"TBD-ASTORIA-CORE","fund_name":"Astoria US Enhanced Core Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Astoria Portfolio Advisors, LLC)","filing_date":"2025-02-21","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000446/astoriausenhancedcore.htm","notes":"NOT YET LAUNCHED. 485APOS filed 2025-02-21 (accession 0001592900-25-000446). To be listed on Nasdaq. Distinct from the Astoria funds already tracked (GQQQ, ROE, IROE, AGGA); this one is absent from the EA Series Trust distribution agreement Exhibit A dated 2026-07-17, which lists those four. Ticker still unassigned. Found by the weekly EDGAR scan for Section 351 in-kind contribution language.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"In-Kind Contribution Risk. At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue - 3 - Code. If one or more of th","evidence":[{"img":"evidence/TBD-ASTORIA-CORE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000446/astoriausenhancedcore.htm","form":"485APOS","accession":"0001592900-25-000446","filed":"2025-02-21","sha256":"6b225263e260051c"},{"img":"evidence/TBD-ASTORIA-CORE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000446/astoriausenhancedcore.htm","form":"485APOS","accession":"0001592900-25-000446","filed":"2025-02-21","sha256":"6b225263e260051c"},{"img":"evidence/TBD-ASTORIA-CORE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000446/astoriausenhancedcore.htm","form":"485APOS","accession":"0001592900-25-000446","filed":"2025-02-21","sha256":"6b225263e260051c"}]},{"ticker":"BESF","fund_name":"Bastion Energy ETF","adviser":"Bastion Fiduciary, LLC (EA Series Trust)","filing_date":"2025-11-30","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000353/bastionenergyetfbesf497ksu.htm","notes":"LAUNCHED 2025-06-03 (Cboe BZX), sub-adviser Bastion Fiduciary (245 SMAs). Only a semi-annual N-CSRS on file; no clean launch AUM or cost basis yet. Annual N-CSR (FYE 05/31) due ~Aug 2026. Move to confirmed when the N-CSR provides launch AUM.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions intended to qualify as tax-deferred transactions governed by Section 351. N-CSRS confirms in-kind creation activity.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/BESF/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025000353/bastionenergyetfbesf497ksu.htm","form":"497K","accession":"0001592900-25-000353","filed":"2025-02-18","sha256":"4f71baed892831ab"}]},{"ticker":"TOEE","fund_name":"Twin Oak Enhanced Equity ETF","adviser":"Twin Oak ETF Company (sub-adviser: Exchange Traded Concepts, LLC)","filing_date":"2025-12-12","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","notes":"The RBB Fund Trust (CIK 1618627). Not launched. Generic seed language (no accounts-managed-by-the-Adviser wording), flag.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Certain initial investors in a Fund may be permitted to contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a tax-deferred contribution under Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a ta","evidence":[{"img":"evidence/TOEE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOEE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOEE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"}]},{"ticker":"AGGZ","fund_name":"Twin Oak Enhanced Fixed Income ETF","adviser":"Twin Oak ETF Company (sub-adviser: Exchange Traded Concepts, LLC)","filing_date":"2025-12-12","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","notes":"The RBB Fund Trust (CIK 1618627). Not launched. Generic seed language, flag.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Certain initial investors in a Fund may be permitted to contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a tax-deferred contribution under Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a ta","evidence":[{"img":"evidence/AGGZ/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/AGGZ/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/AGGZ/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"}]},{"ticker":"TOGE","fund_name":"Twin Oak Global Equity ETF","adviser":"Twin Oak ETF Company (sub-adviser: Exchange Traded Concepts, LLC)","filing_date":"2025-12-12","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","notes":"The RBB Fund Trust (CIK 1618627). Not launched. Generic seed language, flag.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Certain initial investors in a Fund may be permitted to contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a tax-deferred contribution under Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a ta","evidence":[{"img":"evidence/TOGE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOGE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOGE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"}]},{"ticker":"TOHO","fund_name":"Twin Oak Hedged Opportunities ETF","adviser":"Twin Oak ETF Company (sub-adviser: Exchange Traded Concepts, LLC)","filing_date":"2025-12-12","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","notes":"The RBB Fund Trust (CIK 1618627). Not launched. Generic seed language, flag.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Certain initial investors in a Fund may be permitted to contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a tax-deferred contribution under Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares of the Fund, in a transaction that is expected to qualify as a ta","evidence":[{"img":"evidence/TOHO/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOHO/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"},{"img":"evidence/TOHO/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834425022420/fp0096494-1_485bposixbrl.htm","form":"485BPOS","accession":"0001398344-25-022420","filed":"2025-12-12","sha256":"1a81e884c0825d9b"}]},{"ticker":"TOAO","fund_name":"Twin Oak Active Opportunities III ETF","adviser":"Twin Oak ETF Company (RBB Fund Trust)","filing_date":"2026-04-23","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126012555/rbb-485bpos_061026.htm","notes":"LAUNCHED 2026-04-23 (Cboe BZX). Transferor likely single (TSPX / ICONIQ family-office analogy, low confidence). No launch AUM until the first N-CSR (FYE 08/31, ~Oct 2026). Move to confirmed then; confirm single-vs-multi from the N-CSR contribution note.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Certain initial investors may contribute a diversified portfolio of stocks and securities to the Fund in exchange for shares, in a transaction expected to qualify as a tax-deferred contribution under Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. The carryover tax basis in such securities","evidence":[{"img":"evidence/TOAO/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126012555/rbb-485bpos_061026.htm","form":"485BPOS","accession":"0001999371-26-012555","filed":"2026-06-10","sha256":"3076d046752db1ef"},{"img":"evidence/TOAO/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126012555/rbb-485bpos_061026.htm","form":"485BPOS","accession":"0001999371-26-012555","filed":"2026-06-10","sha256":"3076d046752db1ef"}]},{"ticker":"TBD-HCMVAL","fund_name":"HCM Large Cap Value ETF","adviser":"Highland Capital Management, LLC","filing_date":"2026-04-27","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","notes":"ETF Opportunities Trust (CIK 1771146, Series S000097380). No ticker assigned, no 8-A12B/CERT. Sibling AQLG (Growth) launched 2026-06-08. Highland has no predecessor MF, no 368.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"The Portfolio's initial investment portfolio will be acquired through one or more in-kind contributions intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended (the \u201cC","evidence":[{"img":"evidence/TBD-HCMVAL/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"},{"img":"evidence/TBD-HCMVAL/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"},{"img":"evidence/TBD-HCMVAL/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1771146/000177114626000831/ck0001771146-20260427.htm","form":"497","accession":"0001771146-26-000831","filed":"2026-04-27","sha256":"c824c88931304ebf"}]},{"ticker":"RJPI","fund_name":"RJ Chartwell Premium Income ETF","adviser":"Carillon Tower Advisers (sub-adviser: Chartwell Investment Partners)","filing_date":"2026-04-30","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/897111/000119312525202000/d57359d485bpos.htm","notes":"Carillon Series Trust (CIK 897111). 497K 2026-04-30 states had not commenced operations. Weak/boilerplate seed language; re-verify as a fresh 351 SMA candidate if an 8-A12B and first NPORT-P appear.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Generic Tidal in-kind contribution tax-risk paragraph (seeding may include a separately managed account or private fund managed by a subadviser); NOT a fund-specific 351 seed disclosure.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/RJPI/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/897111/000119312525202000/d57359d485bpos.htm","form":"485BPOS","accession":"0001193125-25-202000","filed":"2025-09-12","sha256":"989498544f20d005"},{"img":"evidence/RJPI/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/897111/000119312525202000/d57359d485bpos.htm","form":"485BPOS","accession":"0001193125-25-202000","filed":"2025-09-12","sha256":"989498544f20d005"},{"img":"evidence/RJPI/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/897111/000119312525202000/d57359d485bpos.htm","form":"485BPOS","accession":"0001193125-25-202000","filed":"2025-09-12","sha256":"989498544f20d005"}]},{"ticker":"AVUC","fund_name":"Avantis U.S. Core Equity ETF","adviser":"American Century (Avantis Investors)","filing_date":"2026-05-04","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","notes":"NYSE Arca. American Century ETF Trust (CIK 1710607). Not yet launched. ASEC launched instead (CERT 2026-05-27); AVNC/AVUC pending.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"Avantis 351 in-kind seed language; sibling of AVNC in the same 485B.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code and, if one or more of the","evidence":[{"img":"evidence/AVUC/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","form":"497","accession":"0001710607-26-000080","filed":"2026-05-04","sha256":"32096dc7d2be6cfc"},{"img":"evidence/AVUC/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","form":"497","accession":"0001710607-26-000080","filed":"2026-05-04","sha256":"32096dc7d2be6cfc"}]},{"ticker":"ENDQ","fund_name":"Cambria Endowment Style 2 ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, L.P.)","filing_date":"2026-05-21","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","notes":"EA Series Trust (CIK 1592900). 497 filed 2026-05-21. Distinct from ENDW (Cambria Endowment Style ETF, already confirmed). Has not commenced operations. Nasdaq.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/ENDQ/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"},{"img":"evidence/ENDQ/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"},{"img":"evidence/ENDQ/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"}]},{"ticker":"USLE","fund_name":"Cambria US Large Cap Equity ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, L.P.)","filing_date":"2026-05-21","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","notes":"EA Series Trust (CIK 1592900). 497 filed 2026-05-21 (same book as ENDQ). Has not commenced operations. Nasdaq.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/USLE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"},{"img":"evidence/USLE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"},{"img":"evidence/USLE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002114/ck0001592900-20260521.htm","form":"497","accession":"0001592900-26-002114","filed":"2026-05-21","sha256":"a0edc7fefd1d4fd1"}]},{"ticker":"TBD-MAINROT","fund_name":"Main Active Rotation ETF","adviser":"Main Management ETF Advisors, LLC","filing_date":"2026-05-22","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1644419/000158064226003276/mainactive_485a.htm","notes":"Northern Lights Fund Trust IV (CIK 1644419). 485APOS 2026-05-22, effectiveness ~2026-08-05 (regulatory). Adviser runs SMAs; seed sentence says only investors, SMA context elsewhere in prospectus. In scope, moderate confidence.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"The initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors in exchange for Shares. In-kind contributions may qualify for nonrecognition treatment to the contributing parties under Section 351 of the Tax Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors in exchange for Shares. In-kind cont","evidence":[{"img":"evidence/TBD-MAINROT/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064226003276/mainactive_485a.htm","form":"485APOS","accession":"0001580642-26-003276","filed":"2026-05-22","sha256":"f1d4114ded7d31ce"},{"img":"evidence/TBD-MAINROT/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064226003276/mainactive_485a.htm","form":"485APOS","accession":"0001580642-26-003276","filed":"2026-05-22","sha256":"f1d4114ded7d31ce"},{"img":"evidence/TBD-MAINROT/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1644419/000158064226003276/mainactive_485a.htm","form":"485APOS","accession":"0001580642-26-003276","filed":"2026-05-22","sha256":"f1d4114ded7d31ce"}]},{"ticker":"SFEI","fund_name":"Sequoia Select Equity Income ETF","adviser":"Sequoia Financial Group, LLC","filing_date":"2026-05-29","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-05-29, five-fund Sequoia Select book (SFEI, SFLC, SFLG, SFSM, SFGS). Distinct from confirmed SFGV. In-Kind Contribution Risk with 351 language. Not launched.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/SFEI/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFEI/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFEI/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"}]},{"ticker":"SFLC","fund_name":"Sequoia Select Large Core ETF","adviser":"Sequoia Financial Group, LLC","filing_date":"2026-05-29","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-05-29, five-fund Sequoia Select book. Not launched.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/SFLC/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFLC/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFLC/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"}]},{"ticker":"SFGS","fund_name":"Sequoia Select Global Equity ETF","adviser":"Sequoia Financial Group, LLC","filing_date":"2026-05-29","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS 2026-05-29, five-fund Sequoia Select book. Not launched.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/SFGS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFGS/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"},{"img":"evidence/SFGS/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002359/sequoia485a.htm","form":"485APOS","accession":"0001592900-26-002359","filed":"2026-05-29","sha256":"62907bc30263ad41"}]},{"ticker":"BWCE","fund_name":"Brickworks Core US Equity ETF","adviser":"CapFinancial Partners, LLC dba CAPTRUST","filing_date":"2026-06-02","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","notes":"EA Series Trust (CIK 1592900). 485APOS pre-effective, ticker TBD. Sub-adviser CAPTRUST. Standard EA 351 in-kind seed language. Sibling of Brickworks Extended Market ETF (same filing). Ticker BWCE assigned: EA Series Trust ETF Distribution Agreement Exhibit A dated 2026-07-17 lists \"Brickworks Core US Equity ETF BWCE July 17, 2026\" (485BPOS 0001592900-26-003620).","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/BWCE/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"},{"img":"evidence/BWCE/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"},{"img":"evidence/BWCE/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026002835/captrust485a.htm","form":"485APOS","accession":"0001592900-26-002835","filed":"2026-06-02","sha256":"3ee487db62760871"}]},{"ticker":"KPO","fund_name":"Kensington Premium Opportunities ETF","adviser":"Kensington Asset Management, LLC (sub-adviser: Liquid Strategies, LLC)","filing_date":"2026-06-10","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1511699/000089418926017728/kensingtonpremiumopportuni.htm","notes":"Managed Portfolio Series (CIK 1511699). 485APOS 2026-06-10 only; no 8-A12B/CERT. KPO is a cover-page proposed ticker. Generic 351 risk language, no SMA/transferor detail yet.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"In-Kind Seeding Risk. The Fund expects to acquire certain equity securities at its launch through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/KPO/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1511699/000089418926017728/kensingtonpremiumopportuni.htm","form":"485APOS","accession":"0000894189-26-017728","filed":"2026-06-10","sha256":"12d79692491b2e85"},{"img":"evidence/KPO/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1511699/000089418926017728/kensingtonpremiumopportuni.htm","form":"485APOS","accession":"0000894189-26-017728","filed":"2026-06-10","sha256":"12d79692491b2e85"},{"img":"evidence/KPO/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1511699/000089418926017728/kensingtonpremiumopportuni.htm","form":"485APOS","accession":"0000894189-26-017728","filed":"2026-06-10","sha256":"12d79692491b2e85"}]},{"ticker":"RMAI","fund_name":"Rareview Multi-Asset ETF","adviser":"Rareview Capital","filing_date":"2026-06-11","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1719812/000199937126012584/cist-485apos_061126.htm","notes":"Collaborative Investment Series Trust (CIK 1719812). 485APOS 2026-06-11, ticker still bracketed [RMAI]. Not launched. Same template as THOR (which proved cash-seeded); transferor unconfirmed, re-verify at N-CSR.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"The initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors in exchange for shares. In-kind contributions may qualify for nonrecognition treatment to the contributing parties under Section 351 of the Tax Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors in exchange for shares. In-kind cont","evidence":[{"img":"evidence/RMAI/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1719812/000199937126012584/cist-485apos_061126.htm","form":"485APOS","accession":"0001999371-26-012584","filed":"2026-06-11","sha256":"44445bd28bc78088"},{"img":"evidence/RMAI/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1719812/000199937126012584/cist-485apos_061126.htm","form":"485APOS","accession":"0001999371-26-012584","filed":"2026-06-11","sha256":"44445bd28bc78088"},{"img":"evidence/RMAI/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1719812/000199937126012584/cist-485apos_061126.htm","form":"485APOS","accession":"0001999371-26-012584","filed":"2026-06-11","sha256":"44445bd28bc78088"}]},{"ticker":"CANV","fund_name":"Cambria Global Shareholder Yield ETF","adviser":"Empowered Funds, LLC dba EA Advisers (sub-adviser: Cambria Investment Management, L.P.)","filing_date":"2026-06-30","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003381/cambria497.htm","notes":"EA Series Trust (CIK 1592900). 497 filed 2026-06-30 (4-fund book with TAX/ENDW/GEW). Has not commenced operations. Nasdaq.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended. If one","evidence":[{"img":"evidence/CANV/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003381/cambria497.htm","form":"497","accession":"0001592900-26-003381","filed":"2026-06-30","sha256":"bef44e3dbd1a90b0"},{"img":"evidence/CANV/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003381/cambria497.htm","form":"497","accession":"0001592900-26-003381","filed":"2026-06-30","sha256":"bef44e3dbd1a90b0"},{"img":"evidence/CANV/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290026003381/cambria497.htm","form":"497","accession":"0001592900-26-003381","filed":"2026-06-30","sha256":"bef44e3dbd1a90b0"}]},{"ticker":"KISS","fund_name":"Park Edge Adaptive Risk ETF","adviser":"Twin Oak ETF Company (sub-advisers: Park Edge Advisors, LLC and Exchange Traded Concepts, LLC)","filing_date":"2026-07-30","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426013148/fp0100223-1_485apos.htm","notes":"The RBB Fund Trust (CIK 1618627). 485APOS 2026-07-30, effective 75 days after filing (~2026-10-13). Proposed ticker KISS on NYSE Arca (bracketed on cover, no 8-A12B yet). Sixth Twin Oak ETF Company series after TOAO, TOEE, AGGZ, TOGE, TOHO. Sub-adviser Park Edge Advisors, LLC (CIO Richard Lowrie). Summary-section In-Kind Contribution Risk states the Fund expects a material 351 in-kind seed; the tax section says the initial portfolio will be so acquired. Fee table blank (pre-effective). Awaiting 8-A12B, launch, then N-CSR.","marketing_link":"","marketing_note":"","prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/KISS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426013148/fp0100223-1_485apos.htm","form":"485APOS","accession":"0001398344-26-013148","filed":"2026-07-30","sha256":"cffe126bfa7c7428"},{"img":"evidence/KISS/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426013148/fp0100223-1_485apos.htm","form":"485APOS","accession":"0001398344-26-013148","filed":"2026-07-30","sha256":"cffe126bfa7c7428"},{"img":"evidence/KISS/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000139834426013148/fp0100223-1_485apos.htm","form":"485APOS","accession":"0001398344-26-013148","filed":"2026-07-30","sha256":"cffe126bfa7c7428"}]},{"ticker":"LVUS","fund_name":"Longview Advantage US Equity ETF","adviser":"Hill Investment Group Partners, LLC d/b/a Longview Research Partners","filing_date":"2026-07-31","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","notes":"The RBB Fund Trust (CIK 1618627). 485APOS 2026-07-31, effective 75 days after filing (~2026-10-14). Proposed ticker LVUS on Nasdaq (bracketed on cover, no 8-A12B yet). Same adviser as confirmed fund EBI (The Longview Advantage ETF, launched 2025-02-26, $439.8M seed), so the 351 seeding track record is established. Summary-section In-Kind Contribution Risk states the Fund expects a material 351 in-kind seed; the tax section says the initial portfolio will be so acquired. Advisory fee 0.25%, contractually capped at 0.15%. Awaiting 8-A12B, launch, then N-CSR.","marketing_link":"","marketing_note":"","prospectus_excerpt":"At its launch, the Longview Advantage US Equity ETF expects to, and the Longview Advantage Expected Return ETF may, acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/LVUS/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"},{"img":"evidence/LVUS/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"},{"img":"evidence/LVUS/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"}]},{"ticker":"HEXX","fund_name":"Longview Advantage Expected Return ETF","adviser":"Hill Investment Group Partners, LLC d/b/a Longview Research Partners","filing_date":"2026-07-31","expected_launch":"TBD","filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","notes":"The RBB Fund Trust (CIK 1618627). 485APOS 2026-07-31, same two-fund book as LVUS. Proposed ticker HEXX on Nasdaq (bracketed on cover, no 8-A12B yet). CONDITIONAL: the filer distinguishes the siblings, LVUS \"expects to\" and HEXX \"may\" acquire a material 351 in-kind seed, so a 351 seed here is disclosed as possible, not planned. Advisory fee 0.25%, contractually capped at 0.05%. Do not treat as certain without an 8-A12B plus N-CSR.","marketing_link":"","marketing_note":"","prospectus_excerpt":"The Longview Advantage US Equity ETF's initial investment portfolio will, and the Longview Advantage Expected Return ETF's initial investment portfolio may, be acquired through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/HEXX/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"},{"img":"evidence/HEXX/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"},{"img":"evidence/HEXX/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126016640/longview-485apos_073126.htm","form":"485APOS","accession":"0001999371-26-016640","filed":"2026-07-31","sha256":"be157fdcf3685a96"}]},{"ticker":"CAUS","fund_name":"Cloverpoint Core Alpha US ETF","adviser":"EA Advisers (sub: Cloverpoint LLC)","filing_date":"2025-06-13","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/ck0001592900-20250613.htm","notes":"Registered effective June 2025 on NYSE Arca; not yet launched. Sub-adv Neimann has 75 SMAs ($351.4M), consistent with SMA seeding.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire assets through <b>one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/CAUS/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/0001592900-25-001547-index.htm","form":"485BPOS","accession":"0001592900-25-001547","filed":"2025-06-13","sha256":"665f83a684a25eeb"}]},{"ticker":"CAIN","fund_name":"Cloverpoint Core Alpha International ETF","adviser":"EA Advisers (sub: Cloverpoint LLC)","filing_date":"2025-06-13","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/ck0001592900-20250613.htm","notes":"Registered effective June 2025; not yet launched.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire assets through <b>one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/CAIN/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/0001592900-25-001547-index.htm","form":"485BPOS","accession":"0001592900-25-001547","filed":"2025-06-13","sha256":"665f83a684a25eeb"}]},{"ticker":"CAGB","fund_name":"Cloverpoint Core Alpha Global ETF","adviser":"EA Advisers (sub: Cloverpoint LLC)","filing_date":"2025-06-13","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/ck0001592900-20250613.htm","notes":"Registered effective June 2025; not yet launched.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire assets through <b>one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/CAGB/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/0001592900-25-001547-index.htm","form":"485BPOS","accession":"0001592900-25-001547","filed":"2025-06-13","sha256":"665f83a684a25eeb"}]},{"ticker":"CAPF","fund_name":"Cloverpoint Core Alpha Power Evolution ETF","adviser":"EA Advisers (sub: Cloverpoint LLC)","filing_date":"2025-06-13","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/ck0001592900-20250613.htm","notes":"Registered effective June 2025; not yet launched. Name changed from \"Energy Transition\" mid-2025.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire assets through <b>one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/CAPF/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025001547/0001592900-25-001547-index.htm","form":"485BPOS","accession":"0001592900-25-001547","filed":"2025-06-13","sha256":"665f83a684a25eeb"}]},{"ticker":"AAGW","fund_name":"Alpha Architect US Equity Growth ETF","adviser":"EA Advisers (sub: Alpha Architect, LLC)","filing_date":"2025-09-02","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002569/aagw.htm","notes":"Sub-advisory agreement amended 2026-05-04 but fund still NOT launched as of 2026-05-18. Ticker AAGW confirmed registered on Nasdaq; monitoring for launch.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At its launch, the Fund expects to acquire a material amount of assets through one or more <b>in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>. If one or more of the in-kind contributions were to fail to qualify for tax-deferred treatment, then the Fund would not take a carryover tax basis in the applicable contributed assets and would not benefit from a tacked holding period in those assets.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/AAGW/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002569/aagw.htm","form":"485APOS","accession":"0001592900-25-002569","filed":"2025-09-02","sha256":"2d09ff3835ac7895"},{"img":"evidence/AAGW/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1592900/000159290025002569/aagw.htm","form":"485APOS","accession":"0001592900-25-002569","filed":"2025-09-02","sha256":"2d09ff3835ac7895"}]},{"ticker":"GXPT","fund_name":"Global X PureCap MSCI Information Technology ETF","adviser":"Global X Management Company LLC","filing_date":"2026-03-31","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000143235326000253/globalxpurecapsmmsciinform.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPC","fund_name":"Global X PureCap MSCI Communication Services ETF","adviser":"Global X Management Company LLC","filing_date":"2026-03-31","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000093041326002359/c117217_ncsrs-ixbrl.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPD","fund_name":"Global X PureCap MSCI Consumer Discretionary ETF","adviser":"Global X Management Company LLC","filing_date":"2026-03-31","expected_launch":null,"filing_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432353&type=497K","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPS","fund_name":"Global X PureCap MSCI Consumer Staples ETF","adviser":"Global X Management Company LLC","filing_date":"2026-03-31","expected_launch":null,"filing_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432353&type=497K","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPE","fund_name":"Global X PureCap MSCI Energy ETF","adviser":"Global X Management Company LLC","filing_date":"2026-03-31","expected_launch":null,"filing_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432353&type=497K","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"THMR","fund_name":"THOR Financial Technologies ETF","adviser":"THOR Financial Technologies","filing_date":"2026-04-02","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1924447/000158064226002227/thor-ardynamicetf_485b.htm","notes":"LAUNCHED 2026-04-06 NYSE as THMR (8-A12B + 497K cluster). 351 language is HEDGED/weak: contributor is 'investors' not 'accounts managed by the Adviser', and fund 'makes no representations as to whether' contributions qualify under 351. Does NOT meet certain bar. Needs N-CSR to confirm 351 + transferor before moving to confirmed.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"The initial capital raise <b>from investors</b> is expected to be made through <b>in-kind contributions of securities from such investors in exchange for Shares</b>. <b>In-kind contributions may qualify for nonrecognition treatment to the contributing parties under Section 351 of the Tax Code</b>, assuming that the requirements of Section 351 are met, which would have corresponding consequences for the tax basis to the Fund in those contributed securities. The Fund makes no representations as to whether any of such in-kind contributions qualify for Section 351 treatment.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"initial capital raise from investors is expected to be made through in-kind contributions of securities from such investors in exchange for Shares. In-kind cont","evidence":[{"img":"evidence/THMR/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1924447/000158064226002227/thor-ardynamicetf_485b.htm","form":"485BPOS","accession":"0001580642-26-002227","filed":"2026-04-02","sha256":"da08f67611354285"},{"img":"evidence/THMR/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1924447/000158064226002227/thor-ardynamicetf_485b.htm","form":"485BPOS","accession":"0001580642-26-002227","filed":"2026-04-02","sha256":"da08f67611354285"},{"img":"evidence/THMR/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1924447/000158064226002227/thor-ardynamicetf_485b.htm","form":"485BPOS","accession":"0001580642-26-002227","filed":"2026-04-02","sha256":"da08f67611354285"}]},{"ticker":"TBD-POLEN-SMD","fund_name":"Polen 5Perspectives Small-Mid Growth ETF","adviser":"Polen Capital Management, LLC","filing_date":"2026-04-06","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626003230/fundvantage_485apos.htm","notes":"Sibling to PCGO and PCLC; 485APOS with 351 language. Ticker TBD. Renamed 2026-01-09 from \"Polen U.S. SMID Cap Growth ETF\"; previously tracked twice, once under each name. An N-14 filed 2026-01-20 (accession 0001829126-26-000408) reorganizes the Polen 5Perspectives Small Growth Fund, a mutual fund, into this ETF, so it will carry an IRC 368 conversion alongside any 351 contribution. The earlier 485APOS of 2025-10-14 registers the same series under its prior name, Polen U.S. SMID Cap Growth ETF.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"In-Kind Contribution Risk. At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by <b>Section 351 of the Internal Revenue Code</b>. If one or more of the in-kind contributions were to fail to qualify for tax-deferred treatment, then the Fund would not take a carryover tax basis in the applicable contributed assets and would not benefit from a tacked holding period in those assets. Initially, the Fund is expected to include in its portfolio some securities received as part of the <b>initial seeding of the Fund through in-kind contributions</b>, which the Fund intends to hold for a shorter time horizon. The Adviser estimates that the Fund will be operating with its target holdings within one month after launch assuming that market conditions remain stable.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/TBD-POLEN-SMD/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626003230/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-003230","filed":"2026-04-07","sha256":"5695ec97df5f28f5"},{"img":"evidence/TBD-POLEN-SMD/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626003230/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-003230","filed":"2026-04-07","sha256":"5695ec97df5f28f5"},{"img":"evidence/TBD-POLEN-SMD/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626003230/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-003230","filed":"2026-04-07","sha256":"5695ec97df5f28f5"}]},{"ticker":"AVNC","fund_name":"Avantis All International Core Equity ETF","adviser":"American Century (Avantis Investors)","filing_date":"2026-05-04","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","notes":"Ticker AVNC assigned (NYSE Arca). American Century ETF Trust (CIK 1710607). Series established 2026-03-12, not yet launched. 351 in-kind seed language.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"In-Kind Seeding Risk. The fund expects to acquire a significant amount of securities at its launch through one or more <b>in-kind contributions</b> that are intended to qualify as <b>tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>. If one or more of the in-kind contributions were to fail to qualify for tax-deferred treatment, then the fund would not take a carryover tax basis in the applicable contributed securities. Additionally, investments in the fund may be less tax-efficient than an investment in other ETFs because a significant portion of the fund\u2019s initial portfolio may consist of securities with a low tax basis.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code and, if one or more of the","evidence":[{"img":"evidence/AVNC/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","form":"497","accession":"0001710607-26-000080","filed":"2026-05-04","sha256":"32096dc7d2be6cfc"},{"img":"evidence/AVNC/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1710607/000171060726000080/acetft485b-avantisetfs.htm","form":"497","accession":"0001710607-26-000080","filed":"2026-05-04","sha256":"32096dc7d2be6cfc"}]},{"ticker":"OAKL","fund_name":"Oakmark U.S. Concentrated ETF","adviser":"Harris Associates","filing_date":"2026-06-29","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/2035827/000110465926078768/tm2618404d5_497k.htm","notes":"Ticker OAKL assigned (NYSE Arca). Harris Oakmark ETF Trust (CIK 2035827). 497K 2026-06-29 has named Section 351 Tax Recharacterization Risk. No 8-A12B/CERT yet, pre-launch. Other Oakmark ETFs lack the launch-seed language.","marketing_link":"https://oakmark.com/news-insights/harris-associates-l-p-announces-launch-of-oakmark-u-s-large-cap-etf/","marketing_note":"Launch announcement (no 351 mention)","prospectus_excerpt":"Tax Risk. To the extent the Fund acquires assets at its launch through one or more <b>in-kind contributions</b> that are intended to qualify as <b>tax-deferred transactions governed by Section 351 of the Internal Revenue Code</b>, and if one or more of the in-kind contributions were to fail to qualify for tax-deferred treatment, then the Fund would not take a carryover tax basis in the applicable contributed assets, which could negatively impact the Fund, the investors contributing the assets and other shareholders in the Fund.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code (the \u201cCode\u201d), and if one or","evidence":[{"img":"evidence/OAKL/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/2035827/000110465926078768/tm2618404d5_497k.htm","form":"497K","accession":"0001104659-26-078768","filed":"2026-06-29","sha256":"95fc3c8165880650"},{"img":"evidence/OAKL/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/2035827/000110465926078768/tm2618404d5_497k.htm","form":"497K","accession":"0001104659-26-078768","filed":"2026-06-29","sha256":"95fc3c8165880650"}]},{"ticker":"RJCA","fund_name":"RJ ClariVest Capital Appreciation ETF","adviser":"Carillon Tower Advisers (sub: ClariVest Asset Management LLC)","filing_date":"2026-07-30","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/897111/000089843226000567/cst-20251231.htm","notes":"HYBRID (in scope per decision 2026-06-08). LAUNCHED 2026-07-31 as RJCA on NYSE Arca (8-A12B 0000898432-26-000570, CERT, and 497K all 2026-07-31; 497J 2026-08-03). Ticker RJCA confirmed by the 485BPOS 2026-07-30 prospectus cover. Successor to the Carillon ClariVest Capital Appreciation Fund by 368 reorganization with a 2026-07-31 closing date; the fund had not commenced operations before that. Total ER 0.61% (0.50% advisory + 0.10% administration + 0.01% other). 351 language is hedged (\"may acquire\") and appears only in the 485BPOS tax section, not in the 497K, so this stays in pipeline rather than moving to confirmed-estimated. On N-CSR, add the 351 portion only with conversion_flag, like KAT/EQTY.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"At the start of operations, the fund may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code.","repeat_351":false,"conversion_type":"hybrid","conversion_type_quote":"successor to the Carillon ClariVest Capital Appreciation Fund","evidence":[{"img":"evidence/RJCA/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/897111/000089843226000567/cst-20251231.htm","form":"485BPOS","accession":"0000898432-26-000567","filed":"2026-07-30","sha256":"0904cbf00bbebd3d"},{"img":"evidence/RJCA/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/897111/000089843226000567/cst-20251231.htm","form":"485BPOS","accession":"0000898432-26-000567","filed":"2026-07-30","sha256":"0904cbf00bbebd3d"}]},{"ticker":"GXPF","fund_name":"Global X PureCap MSCI Financials ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432353&type=497K","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPH","fund_name":"Global X PureCap MSCI Health Care ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000143235326000661/a497k-gxph.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPI","fund_name":"Global X PureCap MSCI Industrials ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000143235326000661/a497k-gxpi.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPM","fund_name":"Global X PureCap MSCI Materials ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000143235326000661/a497k-gxpm.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPR","fund_name":"Global X PureCap MSCI Real Estate ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432353&type=497K","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"GXPU","fund_name":"Global X PureCap MSCI Utilities ETF","adviser":"Global X Management Company LLC","filing_date":"2026-08-20","expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1432353/000143235326000661/a497k-gxpu.htm","notes":"Added 2026-08-31 after an adversarial audit found that CIK 1432353, Global X Funds, a top-fifteen ETF issuer, appeared in NO table in this database. These eleven PureCap series carry the standard In-Kind Contribution Risk language naming Section 351 in effective 497Ks. They are NOT confirmed 351 funds and must not be counted as such: the Global X N-CSRS for the period ended 2026-05-31 contains zero occurrences of 'Section 351' and zero of 'in-kind contribution', so no contribution has occurred for any series covered by it. Several are already listed and trading, which makes them unusual for this table: a listed fund whose prospectus contemplates a contribution that has not happened. Recheck at each shareholder report and move to the confirmed universe only when a filing states a completed contribution.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","repeat_351":false,"conversion_type":"351","conversion_type_quote":"\"In-Kind Contribution Risk: The Trust, on behalf of the Fund, may acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code of 1986, as amended.\" PROSPECTIVE, not completed: the verb is 'may acquire'.","evidence":[]},{"ticker":"PCGO","fund_name":"Polen 5Perspectives Growth Opportunities","adviser":"Polen Capital","filing_date":null,"expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626001069/fundvantage_485apos.htm","notes":"NOT YET LAUNCHED. Target of 2026-06-30 passed. 8-A12B filed 2026-04-09 (ticker assignment only); no 485BPOS filed, so registration is not effective, and the fund is absent from EDGAR's listed-fund ticker map. No revised launch date published.","marketing_link":"https://www.businesswire.com/news/home/20260303735171/en/Polen-Capital-Files-to-Launch-Growth-Opportunities-ETF-and-Section-351-Exchange-for-Eligible-Investors","marketing_note":"BusinessWire press release + polencapital.com/351","prospectus_excerpt":"In-Kind Contribution Risk. At its launch, the Fund expects to acquire a material amount of assets through one or more in-kind contributions that are intended to qualify as tax-deferred transactions governed by <b>Section 351 of the Internal Revenue Code</b>. If one or more of the in-kind contributions were to fail to qualify for tax-deferred treatment, then the Fund would not take a carryover tax basis in the applicable contributed assets and would not benefit from a tacked holding period in those assets.","repeat_351":true,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Internal Revenue Code. If one or more of the in-k","evidence":[{"img":"evidence/PCGO/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626001069/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-001069","filed":"2026-02-06","sha256":"cd91a53785a80d73"},{"img":"evidence/PCGO/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626001069/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-001069","filed":"2026-02-06","sha256":"cd91a53785a80d73"},{"img":"evidence/PCGO/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1388485/000182912626001069/fundvantage_485apos.htm","form":"485APOS","accession":"0001829126-26-001069","filed":"2026-02-06","sha256":"cd91a53785a80d73"}]},{"ticker":"LTEQ","fund_name":"Equity Partners ETF","adviser":"Seven Post Investment Office LP","filing_date":null,"expected_launch":null,"filing_link":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126010491/lteq-485bpos_051226.htm","notes":"NOT YET LAUNCHED. Not listed on any US exchange (absent from the NASDAQ and NYSE/Cboe symbol directories as of 2026-07-13), no trading history, no NPORT filed. A 485BPOS was filed but that only makes the registration effective; it does not list the fund. Previously recorded as launched on the 485BPOS/497K date. LTEQ filed four 485BXT delay filings (2026-03-13, 03-30, 04-28, 05-05) before going effective 2026-05-11, and still never listed. The website named in its prospectus (www.EquityPartnerFunds.com) is an unregistered parking page that has never been archived.","marketing_link":null,"marketing_note":null,"prospectus_excerpt":"485BPOS confirms 351 in-kind contribution language. Seven Post Investment Office LP (~$9.6B AUM, multi-family RIA, ER: 0.71% gross / 0.61% net).","repeat_351":false,"conversion_type":"351","conversion_type_quote":"in-kind contributions that are intended to qualify as tax-deferred transactions governed by Section 351 of the Code. If one or more of the in-kind contributions","evidence":[{"img":"evidence/LTEQ/section_351.webp","caption":"The registration statement's Section 351 seeding disclosure","backs":"section_351_rating","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126010491/lteq-485bpos_051226.htm","form":"485BPOS","accession":"0001999371-26-010491","filed":"2026-05-11","sha256":"6d796ad9858a5c8b"},{"img":"evidence/LTEQ/trust.webp","caption":"The registrant filing on the fund's behalf","backs":"fund_trust","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126010491/lteq-485bpos_051226.htm","form":"485BPOS","accession":"0001999371-26-010491","filed":"2026-05-11","sha256":"6d796ad9858a5c8b"},{"img":"evidence/LTEQ/adviser.webp","caption":"The adviser named in the registration statement","backs":"adviser","url":"https://www.sec.gov/Archives/edgar/data/1618627/000199937126010491/lteq-485bpos_051226.htm","form":"485BPOS","accession":"0001999371-26-010491","filed":"2026-05-11","sha256":"6d796ad9858a5c8b"}]}],"generated":"2026-09-16"}