FNCL | Portfolio Exposure

Basket Holdings: 381AS OF 09/30/2025

Symbol	Company	Geography	Weight
JPM	JPMorgan Chase & Co	United States	9.94
BRK.B	Berkshire Hathaway Inc Class B	United States	7.67
V	Visa Inc Class A	United States	6.60
MA	Mastercard Inc Class A	United States	5.51
BAC	Bank of America Corp	United States	4.25
WFC	Wells Fargo & Co	United States	3.09
GS	The Goldman Sachs Group Inc	United States	2.80
MS	Morgan Stanley	United States	2.19
AXP	American Express Co	United States	2.17
C	Citigroup Inc	United States	2.15
BLK	BlackRock Inc	United States	1.96
SCHW	Charles Schwab Corp	United States	1.90
SPGI	S&P Global Inc	United States	1.75
COF	Capital One Financial Corp	United States	1.62
PGR	Progressive Corp	United States	1.62
BX	Blackstone Inc	United States	1.46
CB	Chubb Ltd	Switzerland	1.21
HOOD	Robinhood Markets Inc Class A	United States	1.13
MMC	Marsh & McLennan Companies Inc	United States	1.12
CME	CME Group Inc Class A	United States	1.11
ICE	Intercontinental Exchange Inc	United States	1.09
KKR	KKR & Co Inc Ordinary Shares	United States	0.95
PNC	PNC Financial Services Group Inc	United States	0.91
AJG	Arthur J. Gallagher & Co	United States	0.89
BK	Bank of New York Mellon Corp	United States	0.89
MCO	Moodys Corp	United States	0.88
USB	U.S. Bancorp	United States	0.87
AON	Aon PLC Class A	United States	0.83
FI	Fiserv Inc	United States	0.82
COIN	Coinbase Global Inc Ordinary Shares - Class A	United States	0.76
PYPL	PayPal Holdings Inc	United States	0.73
TRV	The Travelers Companies Inc	United States	0.71
APO	Apollo Asset Management, Inc. Ordinary Shares - Class A (New)	United States	0.69
TFC	Truist Financial Corp	United States	0.68
AFL	Aflac Inc	United States	0.66
ALL	Allstate Corp	United States	0.64
MET	MetLife Inc	United States	0.54
AMP	Ameriprise Financial Inc	United States	0.53
AIG	American International Group Inc	United States	0.52
MSCI	MSCI Inc	United States	0.50
XYZ	Block Inc Class A	United States	0.48
NDAQ	Nasdaq Inc	United States	0.43
HIG	The Hartford Insurance Group Inc	United States	0.43
PRU	Prudential Financial Inc	United States	0.42
ARES	Ares Management Corp Ordinary Shares - Class A	United States	0.40
FIS	Fidelity National Information Services Inc	United States	0.39
STT	State Street Corp	United States	0.38
ACGL	Arch Capital Group Ltd	United States	0.38
RJF	Raymond James Financial Inc	United States	0.38
WTW	Willis Towers Watson PLC	United States	0.38
MTB	M&T Bank Corp	United States	0.36
SOFI	SoFi Technologies Inc Ordinary Shares	United States	0.35
FITB	Fifth Third Bancorp	United States	0.35
IBKR	Interactive Brokers Group Inc Class A	United States	0.34
SYF	Synchrony Financial	United States	0.32
LPLA	LPL Financial Holdings Inc	United States	0.31
BRO	Brown & Brown Inc	United States	0.31
NTRS	Northern Trust Corp	United States	0.30
HBAN	Huntington Bancshares Inc	United States	0.29
CBOE	Cboe Global Markets Inc	United States	0.29
MKL	Markel Group Inc	United States	0.28
CINF	Cincinnati Financial Corp	United States	0.28
CFG	Citizens Financial Group Inc	United States	0.27
RF	Regions Financial Corp	United States	0.27
WRB	WR Berkley Corp	United States	0.26
TROW	T. Rowe Price Group Inc	United States	0.26
GPN	Global Payments Inc	United States	0.24
CPAY	Corpay Inc	United States	0.23
AFRM	Affirm Holdings Inc Ordinary Shares - Class A	United States	0.23
PFG	Principal Financial Group Inc	United States	0.22
L	Loews Corp	United States	0.20
KEY	KeyCorp	United States	0.20
	Xaf Financial Dec25 Xcme 20251219		0.20
	Ss Inst Treas Plus Mm Fund Tru Ss Inst Treas Plus Mm Fund Tru		0.20
FCNCA	First Citizens BancShares Inc Class A	United States	0.19
TOST	Toast Inc Class A	United States	0.19
FNF	Fidelity National Financial Inc	United States	0.18
EWBC	East West Bancorp Inc	United States	0.17
EG	Everest Group Ltd	United States	0.17
CG	The Carlyle Group Inc	United States	0.17
EQH	Equitable Holdings Inc	United States	0.17
COOP	Mr. Cooper Group Inc	United States	0.16
TW	Tradeweb Markets Inc	United States	0.15
EVR	Evercore Inc Class A	United States	0.15
UNM	Unum Group	United States	0.15
RNR	RenaissanceRe Holdings Ltd	United States	0.14
GL	Globe Life Inc	United States	0.14
SF	Stifel Financial Corp	United States	0.14
RGA	Reinsurance Group of America Inc	United States	0.14
NLY	Annaly Capital Management Inc	United States	0.14
FHN	First Horizon Corp	United States	0.13
AIZ	Assurant Inc	United States	0.13
JKHY	Jack Henry & Associates Inc	United States	0.12
FDS	FactSet Research Systems Inc	United States	0.12
ALLY	Ally Financial Inc	United States	0.12
HLI	Houlihan Lokey Inc Class A	United States	0.12
OWL	Blue Owl Capital Inc Ordinary Shares - Class A	United States	0.12
JEF	Jefferies Financial Group Inc	United States	0.12
WBS	Webster Financial Corp	United States	0.12
SSB	SouthState Bank Corp	United States	0.11
ORI	Old Republic International Corp	United States	0.11
PRI	Primerica Inc	United States	0.11
AFG	American Financial Group Inc	United States	0.11
AGNC	AGNC Investment Corp	United States	0.11
KNSL	Kinsale Capital Group Inc	United States	0.10
WAL	Western Alliance Bancorp	United States	0.10
CMA	Comerica Inc	United States	0.10
UMBF	UMB Financial Corp	United States	0.10
SEIC	SEI Investments Co	United States	0.10
WTFC	Wintrust Financial Corp	United States	0.10
BPOP	Popular Inc	Puerto Rico	0.10
ZION	Zions Bancorp NA	United States	0.10
ONB	Old National Bancorp	United States	0.09
COLB	Columbia Banking System Inc	United States	0.09
IVZ	Invesco Ltd	United States	0.09
AXS	Axis Capital Holdings Ltd	United States	0.09
ERIE	Erie Indemnity Co Class A	United States	0.09
CFR	Cullen/Frost Bankers Inc	United States	0.09
TPG	TPG Inc Ordinary Shares - Class A	United States	0.09
CBSH	Commerce Bancshares Inc	United States	0.08
PNFP	Pinnacle Financial Partners Inc	United States	0.08
VOYA	Voya Financial Inc	United States	0.08
OMF	OneMain Holdings Inc	United States	0.08
SNV	Synovus Financial Corp	United States	0.08
AMG	Affiliated Managers Group Inc	United States	0.08
BEN	Franklin Resources Inc	United States	0.08
MTG	MGIC Investment Corp	United States	0.08
MKTX	MarketAxess Holdings Inc	United States	0.07
FAF	First American Financial Corp	United States	0.07
ESNT	Essent Group Ltd	United States	0.07
MORN	Morningstar Inc	United States	0.07
THG	The Hanover Insurance Group Inc	United States	0.07
PB	Prosperity Bancshares Inc	United States	0.07
JXN	Jackson Financial Inc	United States	0.07
PIPR	Piper Sandler Cos	United States	0.07
FCFS	FirstCash Holdings Inc	United States	0.07
LNC	Lincoln National Corp	United States	0.07
CADE	Cadence Bank	United States	0.07
RYAN	Ryan Specialty Holdings Inc Class A	United States	0.07
FNB	F N B Corp	United States	0.07
GLXY	Galaxy Digital Inc Ordinary Shares - Class A	United States	0.07
JHG	Janus Henderson Group PLC	United States	0.07
GBCI	Glacier Bancorp Inc	United States	0.07
RITM	Rithm Capital Corp	United States	0.07
STWD	Starwood Property Trust Inc	United States	0.07
SIGI	Selective Insurance Group Inc	United States	0.06
ABCB	Ameris Bancorp	United States	0.06
RDN	Radian Group Inc	United States	0.06
AUB	Atlantic Union Bankshares Corp	United States	0.06
LAZ	Lazard Inc	United States	0.06
WEX	WEX Inc	United States	0.06
RLI	RLI Corp	United States	0.06
HOMB	Home BancShares Inc	United States	0.06
VLY	Valley National Bancorp	United States	0.06
SLM	SLM Corp	United States	0.06
HWC	Hancock Whitney Corp	United States	0.06
OZK	Bank OZK	United States	0.06
HLNE	Hamilton Lane Inc Class A	United States	0.06
UBSI	United Bankshares Inc	United States	0.06
FFIN	First Financial Bankshares Inc	United States	0.05
AGO	Assured Guaranty Ltd	United States	0.05
MC	Moelis & Co Class A	United States	0.05
SFBS	Servisfirst Bancshares Inc	United States	0.05
WTM	White Mountains Insurance Group Ltd	United States	0.05
PJT	PJT Partners Inc Class A	United States	0.05
ASB	Associated Banc-Corp	United States	0.05
SNEX	StoneX Group Inc	United States	0.05
UPST	Upstart Holdings Inc Ordinary Shares	United States	0.05
CNO	CNO Financial Group Inc	United States	0.05
AX	Axos Financial Inc	United States	0.05
STEP	StepStone Group Inc Ordinary Shares - Class A	United States	0.05
FOUR	Shift4 Payments Inc Class A	United States	0.05
RNST	Renasant Corp	United States	0.04
INDB	Independent Bank Corp	United States	0.04
BHF	Brighthouse Financial Inc Registered Shs When Issued	United States	0.04
FULT	Fulton Financial Corp	United States	0.04
FBP	First BanCorp	Puerto Rico	0.04
TBBK	The Bancorp Inc	United States	0.04
FHB	First Hawaiian Inc	United States	0.04
EBC	Eastern Bankshares Inc Ordinary Shares	United States	0.04
KMPR	Kemper Corp	United States	0.04
LMND	Lemonade Inc Ordinary Shares	United States	0.04
NMIH	NMI Holdings Inc	United States	0.04
APAM	Artisan Partners Asset Management Inc Class A	United States	0.04
FRHC	Freedom Holding Corp	United States	0.04
CATY	Cathay General Bancorp	United States	0.04
WSBC	Wesbanco Inc	United States	0.04
ENVA	Enova International Inc	United States	0.04
FLG	Flagstar Financial Inc	United States	0.04
BGC	BGC Group Inc Ordinary Shares Class A	United States	0.04
GNW	Genworth Financial Inc	United States	0.04
PFSI	PennyMac Financial Services Inc Class A	United States	0.04
UCB	United Community Banks Inc	United States	0.04
OSCR	Oscar Health Inc Class A	United States	0.04
HASI	HA Sustainable Infrastructure Capital Inc	United States	0.04
EEFT	Euronet Worldwide Inc	United States	0.04
IBOC	International Bancshares Corp	United States	0.04
FHI	Federated Hermes Inc Class B	United States	0.04
TCBI	Texas Capital Bancshares Inc	United States	0.04
TRMK	Trustmark Corp	United States	0.03
CBU	Community Financial System Inc	United States	0.03
PLMR	Palomar Holdings Inc	United States	0.03
WSFS	WSFS Financial Corp	United States	0.03
VIRT	Virtu Financial Inc Class A	United States	0.03
VCTR	Victory Capital Holdings Inc Class A	United States	0.03
RELY	Remitly Global Inc	United States	0.03
FIBK	First Interstate BancSystem Inc	United States	0.03
NATL	NCR Atleos Corp	United States	0.03
WD	Walker & Dunlop Inc	United States	0.03
BKU	BankUnited Inc	United States	0.03
SFNC	Simmons First National Corp Class A	United States	0.03
CVBF	CVB Financial Corp	United States	0.03
CACC	Credit Acceptance Corp	United States	0.03
BANF	BancFirst Corp	United States	0.03
BOKF	BOK Financial Corp	United States	0.03
BOH	Bank of Hawaii Corp	United States	0.03
SBCF	Seacoast Banking Corp of Florida	United States	0.03
BUR	Burford Capital Ltd	United States	0.03
FFBC	First Financial Bancorp	United States	0.03
TOWN	Towne Bank	United States	0.03
WAFD	WaFd Inc	United States	0.03
MCY	Mercury General Corp	United States	0.03
PRK	Park National Corp	United States	0.03
WU	The Western Union Co	United States	0.03
BANR	Banner Corp	United States	0.03
FRME	First Merchants Corp	United States	0.03
EVTC	Evertec Inc	Puerto Rico	0.03
	E-Mini Russ 2000 Dec25 Xcme 20251219		0.03
BXMT	Blackstone Mortgage Trust Inc A	United States	0.03
WT	WisdomTree Inc	United States	0.02
NNI	Nelnet Inc Class A	United States	0.02
CASH	Pathward Financial Inc	United States	0.02
CHCO	City Holding Co	United States	0.02
HTH	Hilltop Holdings Inc	United States	0.02
AGM	Federal Agricultural Mortgage Corp Class C	United States	0.02
CCB	Coastal Financial Corp	United States	0.02
LKFN	Lakeland Financial Corp	United States	0.02
SEZL	Sezzle Inc	United States	0.02
TRUP	Trupanion Inc	United States	0.02
STBA	S&T Bancorp Inc	United States	0.02
TCBK	TriCo Bancshares	United States	0.02
VRTS	Virtus Investment Partners Inc	United States	0.02
STEL	Stellar Bancorp Inc	United States	0.02
NBHC	National Bank Holdings Corp Class A	United States	0.02
FLYW	Flywire Corp	United States	0.02
HOPE	Hope Bancorp Inc	United States	0.02
PRG	PROG Holdings Inc Ordinary Shares	United States	0.02
DFIN	Donnelley Financial Solutions Inc	United States	0.02
ACT	Enact Holdings Inc	United States	0.02
WABC	Westamerica Bancorp	United States	0.02
LOB	Live Oak Bancshares Inc	United States	0.02
SPNT	SiriusPoint Ltd	United States	0.02
DCOM	Dime Community Bancshares Inc	United States	0.02
MQ	Marqeta Inc Class A	United States	0.02
FBK	FB Financial Corp	United States	0.02
FBNC	First Bancorp	United States	0.02
EFSC	Enterprise Financial Services Corp	United States	0.02
DBRG	DigitalBridge Group Inc Class A	United States	0.02
NBTB	NBT Bancorp Inc	United States	0.02
PFS	Provident Financial Services Inc	United States	0.02
BUSE	First Busey Corp	United States	0.02
STC	Stewart Information Services Corp	United States	0.02
BBT	Beacon Financial Corp	United States	0.02
DAVE	Dave Inc	United States	0.02
CUBI	Customers Bancorp Inc	United States	0.02
BWIN	The Baldwin Insurance Group Inc Class A	United States	0.02
OFG	OFG Bancorp	Puerto Rico	0.02
LC	LendingClub Corp	United States	0.02
BANC	Banc of California Inc	United States	0.02
NWBI	Northwest Bancshares Inc	United States	0.02
SYBT	Stock Yards Bancorp Inc	United States	0.02
PAYO	Payoneer Global Inc	United States	0.02
NIC	Nicolet Bankshares Inc	United States	0.02
GSHD	Goosehead Insurance Inc Class A	United States	0.02
CNS	Cohen & Steers Inc	United States	0.02
VBTX	Veritex Holdings Inc	United States	0.02
AVDX	AvidXchange Holdings Inc	United States	0.02
SKWD	Skyward Specialty Insurance Group Inc	United States	0.02
HMN	Horace Mann Educators Corp	United States	0.02
HCI	HCI Group Inc	United States	0.02
FCF	First Commonwealth Financial Corp	United States	0.02
ABR	Arbor Realty Trust Inc	United States	0.02
LADR	Ladder Capital Corp Class A	United States	0.02
ARR	ARMOUR Residential REIT Inc	United States	0.02
	Us Dollar		0.01
EGBN	Eagle Bancorp Inc	United States	0.01
WASH	Washington Trust Bancorp Inc	United States	0.01
BFH	Bread Financial Holdings Inc	United States	0.01
AMAL	Amalgamated Financial Corp Ordinary Shares Class A	United States	0.01
AMTB	Amerant Bancorp Inc Ordinary Shares - Class A	United States	0.01
FSBC	Five Star Bancorp	United States	0.01
MCBS	MetroCity Bankshares Inc	United States	0.01
BHB	Bar Harbor Bankshares Inc	United States	0.01
TRST	Trustco Bank Corp N Y	United States	0.01
FMNB	Farmers National Banc Corp	United States	0.01
SMBC	Southern Missouri Bancorp Inc	United States	0.01
GSBC	Great Southern Bancorp Inc	United States	0.01
WRLD	World Acceptance Corp	United States	0.01
NBBK	NB Bancorp Inc	United States	0.01
FCBC	First Community Bankshares Inc	United States	0.01
SPFI	South Plains Financial Inc	United States	0.01
NFBK	Northfield Bancorp Inc	United States	0.01
PX	P10 Inc Class A	United States	0.01
AAMI	Acadian Asset Management Inc	United States	0.01
PWP	Perella Weinberg Partners Ordinary Shares - Class A	United States	0.01
PEBO	Peoples Bancorp Inc (Marietta OH)	United States	0.01
GABC	German American Bancorp Inc	United States	0.01
CCBG	Capital City Bank Group Inc	United States	0.01
ORRF	Orrstown Financial Services Inc	United States	0.01
TFSL	TFS Financial Corp	United States	0.01
QCRH	QCR Holdings Inc	United States	0.01
CNOB	ConnectOne Bancorp Inc	United States	0.01
TFIN	Triumph Financial Inc	United States	0.01
FSUN	Firstsun Capital Bancorp	United States	0.01
TIPT	Tiptree Inc	United States	0.01
CODI	Compass Diversified Holdings	United States	0.01
HG	Hamilton Insurance Group Ltd Ordinary Shares Class B	United States	0.01
NAVI	Navient Corp	United States	0.01
BFC	Bank First Corp	United States	0.01
PRA	ProAssurance Corp	United States	0.01
OBK	Origin Bancorp Inc	United States	0.01
UWMC	UWM Holdings Corp Ordinary Shares - Class A	United States	0.01
ROOT	Root Inc Ordinary Shares - Class A	United States	0.01
ECPG	Encore Capital Group Inc	United States	0.01
EZPW	EZCORP Inc	United States	0.01
PAY	Paymentus Holdings Inc Class A	United States	0.01
SAFT	Safety Insurance Group Inc	United States	0.01
EIG	Employers Holdings Inc	United States	0.01
CNNE	Cannae Holdings Inc Ordinary Shares	United States	0.01
OSBC	Old Second Bancorp Inc	United States	0.01
HFWA	Heritage Financial Corp	United States	0.01
SBSI	Southside Bancshares Inc	United States	0.01
FMBH	First Mid Bancshares Inc	United States	0.01
MCB	Metropolitan Bank Holding Corp	United States	0.01
FG	F&G Annuities & Life Inc	United States	0.01
BHRB	Burke & Herbert Financial Services Corp	United States	0.01
TMP	Tompkins Financial Corp	United States	0.01
UVE	Universal Insurance Holdings Inc	United States	0.01
TREE	LendingTree Inc	United States	0.01
MBWM	Mercantile Bank Corp	United States	0.01
HAFC	Hanmi Financial Corp	United States	0.01
CAC	Camden National Corp	United States	0.01
NBN	Northeast Bank	United States	0.01
MBIN	Merchants Bancorp	United States	0.01
CFFN	Capitol Federal Financial Inc	United States	0.01
BFST	Business First Bancshares Inc	United States	0.01
THFF	First Financial Corp	United States	0.01
IBCP	Independent Bank Corp (Ionia MI)	United States	0.01
HTBK	Heritage Commerce Corp	United States	0.01
ESQ	Esquire Financial Holdings Inc Shs Registered Shs	United States	0.01
CTLP	Cantaloupe Inc	United States	0.01
CASS	Cass Information Systems Inc	United States	0.01
EQBK	Equity Bancshares Inc A	United States	0.01
PRAA	PRA Group Inc	United States	0.01
RBCAA	Republic Bancorp Inc Class A	United States	0.01
UFCS	United Fire Group Inc	United States	0.01
CPF	Central Pacific Financial Corp	United States	0.01
PFBC	Preferred Bank	United States	0.01
BY	Byline Bancorp Inc	United States	0.01
HBNC	Horizon Bancorp (IN)	United States	0.01
AMSF	AMERISAFE Inc	United States	0.01
CTBI	Community Trust Bancorp Inc	United States	0.01
UVSP	Univest Financial Corp	United States	0.01
OCFC	OceanFirst Financial Corp	United States	0.01
SRCE	1st Source Corp	United States	0.01
DX	Dynex Capital Inc	United States	0.01
	Franklin BSP Realty Trust Inc.	United States	0.01
PMT	PennyMac Mortgage Investment Trust	United States	0.01
RC	Ready Capital Corp	United States	0.01
BRSP	BrightSpire Capital Inc Class A	United States	0.01
IVR	Invesco Mortgage Capital Inc	United States	0.01
ORC	Orchid Island Capital Inc	United States	0.01
RWT	Redwood Trust Inc	United States	0.01
MFA	MFA Financial Inc	United States	0.01
CIM	Chimera Investment Corp	United States	0.01
EFC	Ellington Financial Inc	United States	0.01
TWO	Two Harbors Investment Corp	United States	0.01
ADAM	Adamas Trust Inc	United States	0.01
ARI	Apollo Commercial Real Estate Finance Inc	United States	0.01
KREF	KKR Real Estate Finance Trust Inc	United States	0.01
TRTX	TPG RE Finance Trust Inc	United States	0.01