FORH
Actively managed, liquid alternatives portfolio diversified among multiple distinct strategies, including tail hedging, inside of a single ETF.
Why FORH?
Active
Driven by our research process, not a passive index.
Alternative
Multi-strategy approach may complement fixed income or equities.
Adaptable
Hedging strategies seek to help mitigate against significant market declines.
FORH – Fund Details
| Inception Date | Management Style | CUSIP: | Total Gross Expense Ratio |
| 4/28/2021 | Active | 26923N306 | 1.19 |
| Asset Class | Exchange | Advisor |
| Multi Asset | Cboe BZX Exchange, Inc. | Formidable Asset Management |
| As of Date | NAV($) | Market Price($) | Premium/Discount |
| 8/6/2026 | 24.5379 | 24.5343 | -0.0147 |
| 30 Day Median Bid/Ask | Shares Outstanding | Total Net Assets |
| 0.023198 | 800,000 | 19,627,440.00 |
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Fund Performance
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| NAV % | Market % | |
|---|---|---|
| ROLLING | ||
| 1 Month | 0.77 | 0.86 |
| 3 Month | -3.58 | -3.53 |
| YTD | 1.73 | 1.87 |
| SINCE INCEPTION |
||
| Daily (as of 8/6/2026) | -1.85 | -1.86 |
| Monthly (as of 7/31/2026) | -3.54 | -4.26 |
| Quarterly (as of 6/30/2026) | -1.31 | -1.39 |
| HISTORIC | ||
| Last Month (as of 7/7/2026) | -2.15 | -2.84 |
| Last Quarter (as of 6/30/2026) | 0.55 | 0.44 |
| Last Year (as of 12/31/2025) | 12.46 | 12.6 |
* Inception dates used for calculations since ETF launched in 2021.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The gross expense ratio is [etfinfo etf=”FORH” aum=”NO” expratio=”YES”].
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. See the details section for gross expense ratio.
Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.
Fund Objectives
The Fund seeks capital appreciation by investing primarily in equity securities.
Fund Documents
- Fact Sheet
- Prospectus
- Summary Prospectus
- Premium Discount Chart
- CY 2025 Premium Discount Chart
- Semi-Annual Tailored Shareholder Report
- Annual Tailored Shareholder Report
- Form N-PX – June, 2025
- Q1 – Schedule of Investments
- Q3 – Schedule of Investments
- Statement of Additional Information dated July 31, 2026
- Semi-Annual Financial Statements & Other Information
- Annual Financial Statements and Other Information
Premium Discount
Premium – The number of trading days the ETF’s closing price exceeds its NAV.
Discount – The number of trading days the ETF’s closing price is below its NAV.
| Number of Days At | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Premium | 22 | 8 | 18 | 19 | 1 | 27 | 44 | 27 | 25 | 27 |
| Discount | 38 | 55 | 45 | 42 | 59 | 33 | 19 | 38 | 35 | 35 |
Fund Holdings
Fund holdings are subject to change without notice. Holdings are as of market close on 8/6/2026.
| ETF Ticker | Description | Ticker | Weight | Market Value | FIGI | Shares Held |
|---|---|---|---|---|---|---|
| FORH | ACACIA RESEARCH CORP | ACTG | 10.09% | 1,980,887.91 | BBG000KF9J02 | 424,173.00 |
| FORH | AEROVIRONMENT INC | AVAV | 3.13% | 613,978.56 | BBG000GX14P2 | 3,588.00 |
| FORH | Alliance Resource Partners L.P. | ARLP | 3.07% | 601,679.16 | BBG000C14X88 | 23,763.00 |
| FORH | Amentum Holdings Inc | AMTM-W | 1.59% | 311,469.60 | BBG01NY7B734 | 13,065.00 |
| FORH | AMTM US 08/21/26 C25 | -0.02% | -3,510.00 | -39.00 | ||
| FORH | APTIV HOLDINGS LTD COMMON STOCK USD 0.01 | APTV | 1.32% | 259,557.80 | BBG01R914LT5 | 5,606.00 |
| FORH | APTV US 08/21/26 C65 | 0.00% | -34.00 | -17.00 | ||
| FORH | ARCHROCK INC | AROC | 0.82% | 161,080.50 | BBG000RWH1V4 | 4,830.00 |
| FORH | ATI INC COMMON STOCK USD.1 | ALATI | 1.99% | 390,108.78 | BBG000LC1FS4 | 1,746.00 |
| FORH | ATI US 08/21/26 C210 | -0.06% | -11,250.00 | -5.00 | ||
| FORH | ATOUR LIFESTYLE HOLDINGS LTD ATAT | ATAT | 1.83% | 358,688.24 | BBG011C6KJG8 | 10,121.00 |
| FORH | AVAV US 08/21/26 C200 | -0.01% | -1,631.00 | -7.00 | ||
| FORH | BANCO LATINOAMERICANO COME E COMMON STOCK | BLX | 2.05% | 402,796.30 | BBG000CWSZN2 | 6,970.00 |
| FORH | BROOKFIELD INFRASTRUCTURE PARTNERS LP LTD PART USD | BIP | 4.35% | 854,655.12 | BBG000B9Y8D8 | 21,948.00 |
| FORH | CASH AND CASH EQUIVALENTS | 2.25% | 441,497.12 | 441,497.12 | ||
| FORH | CORCEPT THERAPEUTICS INC | CORT | 3.04% | 596,747.60 | BBG000BKJG33 | 5,528.00 |
| FORH | CORT US 08/21/26 C105 | -0.07% | -14,375.00 | -23.00 | ||
| FORH | CRDO US 09/18/26 C280 | -0.07% | -14,182.00 | -7.00 | ||
| FORH | CREDO TECHNOLOGY GROUP HO | CRDO | 2.63% | 516,163.20 | BBG00T68J2G0 | 2,240.00 |
| FORH | DOCU US 08/21/26 C49 | -0.04% | -7,380.00 | -9.00 | ||
| FORH | DOCU US 08/21/26 C50 | -0.09% | -18,562.50 | -25.00 | ||
| FORH | DocuSign Inc. | DOCU | 1.00% | 195,451.50 | BBG000N7KJX8 | 3,435.00 |
| FORH | FAIR ISAAC CORP | FICO | 1.24% | 243,526.04 | BBG000DW76Y6 | 236.00 |
| FORH | FIRST SOLAR INC | FSLR | 1.88% | 369,627.96 | BBG000BFL116 | 1,514.00 |
| FORH | Flux Power Holdings Inc. | FLUX | 1.30% | 255,155.08 | BBG000CKGHF0 | 480,066.00 |
| FORH | FSLR US 08/21/26 C300 | -0.01% | -1,580.00 | -4.00 | ||
| FORH | GENERAC HOLDINGS INC | GNRC | 2.62% | 514,856.84 | BBG000PQ4W72 | 2,438.00 |
| FORH | GLOBAL PAYMENTS INC | GPN | 1.15% | 225,450.99 | BBG000CX0P89 | 2,571.00 |
| FORH | GNRC US 08/21/26 C350 | 0.00% | -150.00 | -3.00 | ||
| FORH | GPN US 08/21/26 C90 | -0.01% | -1,280.00 | -8.00 | ||
| FORH | HEALTHSTREAM INC | HSTM | 2.79% | 547,749.48 | BBG000BVK1D9 | 19,479.00 |
| FORH | HYG US 08/07/26 P78 | 0.00% | 500.00 | 500.00 | ||
| FORH | HYG US 08/21/26 P77 | 0.02% | 4,000.00 | 500.00 | ||
| FORH | HYG US 08/21/26 P78 | 0.01% | 2,000.00 | 500.00 | ||
| FORH | INSULET CORP | PODD | 1.26% | 247,257.50 | BBG000R7XX87 | 1,775.00 |
| FORH | IWM US 08/07/26 P268 | 0.00% | -37.50 | -75.00 | ||
| FORH | IWM US 08/07/26 P278 | 0.00% | 37.50 | 75.00 | ||
| FORH | IWM US 08/21/26 P265 | 0.00% | -750.00 | -75.00 | ||
| FORH | IWM US 08/21/26 P272 | 0.00% | -800.00 | -50.00 | ||
| FORH | IWM US 08/21/26 P275 | 0.01% | 1,650.00 | 75.00 | ||
| FORH | IWM US 08/21/26 P285 | 0.02% | 3,600.00 | 50.00 | ||
| FORH | LAR US 08/21/26 C10 | 0.00% | -400.00 | -100.00 | ||
| FORH | Lithium Argentina AG | LAR | 2.35% | 461,398.85 | 70,015.00 | |
| FORH | MANH US 08/21/26 C190 | -0.02% | -2,980.00 | -4.00 | ||
| FORH | MANHATTAN ASSOCIATES INC | MANH | 1.78% | 348,471.64 | BBG000BFV758 | 1,828.00 |
| FORH | MUELLER INDUSTRIES INC COMMON STOCK USD.01 | MLI | 1.21% | 238,039.42 | BBG000C6W444 | 3,427.00 |
| FORH | NVENT ELECTRIC PLC | NVT | 1.51% | 296,716.10 | BBG00GNT7999 | 1,817.00 |
| FORH | NVT US 09/18/26 C200 | -0.01% | -2,130.00 | -5.00 | ||
| FORH | ONTO INNOVATION INC | ONTO | 1.33% | 260,907.70 | BBG000BPRN29 | 971.00 |
| FORH | ONTO US 09/18/26 C340 | -0.02% | -3,750.00 | -3.00 | ||
| FORH | PAAS US 09/18/26 C55 | -0.04% | -7,000.00 | -50.00 | ||
| FORH | PAN AMERICAN SILVER CORP | PAAS | 3.75% | 736,510.40 | BBG000C0RGY3 | 15,328.00 |
| FORH | PEGASYSTEMS INC | PEGA | 1.54% | 301,783.43 | BBG000H1RYG7 | 9,529.00 |
| FORH | PLAINS GP HOLDINGS LP-CL A | PAGP | 2.40% | 470,519.82 | BBG000TBYFR3 | 18,539.00 |
| FORH | RAMBUS INC | RMBS | 1.37% | 269,108.40 | BBG000BR32C6 | 2,755.00 |
| FORH | RGLD US 08/21/26 C220 | -0.02% | -4,770.00 | -9.00 | ||
| FORH | RMBS US 08/21/26 C140 | 0.00% | -50.00 | -5.00 | ||
| FORH | ROYAL GOLD INC | RGLD | 3.26% | 639,062.30 | BBG000BS5170 | 2,930.00 |
| FORH | SM ENERGY CO | SM | 2.13% | 417,872.00 | BBG000BFV115 | 14,560.00 |
| FORH | SM US 08/21/26 C40 | 0.00% | -225.00 | -45.00 | ||
| FORH | SPX Technologies Inc | SPXC | 1.94% | 380,562.32 | 1,777.00 | |
| FORH | SPXC US 08/21/26 C220 | -0.01% | -2,750.00 | -5.00 | ||
| FORH | TALEN ENERGY CORP | TLNE | 1.93% | 379,245.51 | BBG01GWQVVD3 | 1,121.00 |
| FORH | TLN US 08/21/26 C435 | 0.00% | -202.50 | -3.00 | ||
| FORH | TREASURY BILL | TBILL | 5.36% | 1,050,980.94 | BBG01Y0MGWD3 | 1,060,000.00 |
| FORH | TREASURY BILL 09/26 0.00000 | B 0 09/24/26 | 5.17% | 1,015,015.12 | BBG020ZG8QX1 | 1,020,000.00 |
| FORH | VEEV US 08/21/26 C230 | -0.01% | -2,480.00 | -8.00 | ||
| FORH | VEEVA SYSTEMS INC-CLASS A | VEEV | 3.21% | 629,006.40 | BBG001CGB489 | 2,888.00 |
| FORH | VIKING THERAPEUTICS INC | VKTX | 1.47% | 288,844.20 | BBG006LGV869 | 8,674.00 |
| FORH | Viper Energy, Inc. | VNOM | 2.07% | 405,818.00 | BBG01VXTFCN2 | 9,800.00 |
| FORH | VKTX US 08/21/26 C50 | 0.00% | -156.00 | -13.00 |