Fundstrat Granny Shots US Large Cap ETF · AMEX:GRNY
Fundstrat Granny Shots US Large Cap ETF — Investor Presentation (August 2025)
45 slides from Fundstrat Granny Shots US Large Cap ETF's investor presentation, Aug 22, 2025
Slide 1: Fundstrat Granny Shots US Large Cap ETF
G RN Y Fundstrat Granny Shots US Large Cap ETF GRNY Portfolio Managers Thomas J. Lee, CFA Ken Xuan, CFA, FRM 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 2: Fundstrat Capital – Meet the Team
Fundstrat Capital – Meet the Team G RN Y Thomas J. Lee, CFA CIO & Portfolio Manager Thomas J. Lee is the CIO & Portfolio Manager, Managing Director, and Head of Research at the Sub-Advisor. He co-founded Fundstrat Global Advisors in 2014, a research firm serving clients in over 26 countries. Previou
Slide 3: Fundstrat Capital – Who We Are
Fundstrat Capital – Who We Are G RN Y Fundstrat Capital is an independent asset manager employing insights rooted in emotion-free analysis of multivariate thematic factors to generate the Fundstrat Granny Shots US Large Cap ETF. • Affiliate of Fundstrat Global Advisors: Fundstrat Capital is an affil
Slide 4: Fundstrat Granny Shots US Large Cap ETF - GRNY
Fundstrat Granny Shots US Large Cap ETF - GRNY G RN Y Seeks to Aims to select the Leading to a Identify the best stocks concentrated most important benefitting from portfolio of large- themes driving the tailwinds cap equities, driven the economy created by those by significant and US market. themes
Slide 5: Fundstrat Granny Shots US Large Cap ETF - GRNY
Fundstrat Granny Shots US Large Cap ETF - GRNY G RN Y The GRNY investment process selects a portfolio of stocks that match certain themes identified by the Portfolio Managers. Investment The investment process combines a top-down fundamental research Philosophy process with a quantitative, bottom-up
Slide 6: Why Granny Shots?
GRNY – Why Granny Shots? G RN Y The term "granny shot" refers to an unconventional basketball free throw style. For the Fund, it represents Fundstrat Capital's unique research process. Shaquille: Rick Barry: (career success) (career success) 52% 90% Source: NBA, Not a prediction of investment outcom
Slide 7: Investment Guiding Principles
Why Fundstrat Granny Shots US Large Cap ETF G RN Y Fundstrat Capital - Investment Guiding Principles 1. Focus on the long term 2. Consensus is usually wrong1 3. Demographics are destiny2 (aka thematic investing key) 4. Markets have an “age bias” 3 5. Don’t fight the Fed4 1: Fundstrat Capital relies
Slide 8: GRNY – Holdings by Theme
GRNY – Holdings by Theme G RN Y Shorter-Term Themes (6 - 12 Months) Longer-Term Themes (3 - 5 Years) Energy/ Millennials Global Labor Style Tilt Seasonality PMI Energy/ Cyber Security Millennials Suppliers Global Labor Easing Recovery Cyber Suppliers Financial Security Conditions 32 32 37 50 38 41 4
Slide 9: GRNY Theme Introduction – Style Tilt
GRNY Theme Introduction – Style Tilt G RN Y Style tilts, sometimes referred to as portfolio tilts, represent a Style Tilt portfolio’s exposure to various factors that may allow investors to achieve a higher expected return. Historically, various factors have engendered cyclicality across market and
Slide 10: Style Tilt
GRNY Theme Introduction – Style Tilt G RN Y Figure: Comparative matrix between Risk appetite and interest rate/ inflation outlook Low Expected Risk Appetite High Flat/ falling Growth Growth Defensive Cyclicals Quality Growth Quality Quality Defensives Inflation/ interest Quality Quality Seasons new
Slide 11: Style Tilt – Comparative Styles Within Value / Growth
GRNY Theme Introduction – Style Tilt G RN Y Figure: Comparative Styles Within Value / Growth Tilt Growth vs Defensive vs Value Cyclical Style Factor Growth Pure Growth Style Win Ratio and Relative Return between May 1 and Oct 31 Quality Growth On Annual basis since 1990 Cyclical Growth Cyclicals Ran
Slide 12: GRNY Theme Introduction - Seasonality
GRNY Theme Introduction - Seasonality G RN Y Historically, certain industry groups or stocks may exhibit recurring patterns of performance during specific time Seasonality periods. By reviewing various arrays of returns over long time periods, the GRNY ETF seeks to determine which industries may exh
Slide 13: Seasonality – Industries Outperforming May–October
GRNY Theme Introduction - Seasonality G RN Y The following 8 industries have historically exhibited outperformance during the May – October period and rank highly in our Quant, Technical and Fundamental models. Technology Hardware Software Interactive Media & Services Beverages Next 6m Next 6m Next
Slide 14: GRNY Theme Introduction - Purchasing Managers' Index (PMI)
GRNY Theme Introduction - Purchasing Managers’ Index (PMI) G RN Y The Purchasing Managers’ Index (PMI) is a monthly economic indicator based on PMI survey responses by private-sector companies in the manufacturing and Recovery services sectors. The index typically includes factors such as new orders
Slide 15: PMI Recovery
GRNY Theme Introduction - PMI Recovery G RN Y PMI: Institute for Supply Management (ISM) and S&P Global Manufacturing PMIs (Since 2019, monthly) S&P Global US ISM Manufacturing Manufacturing PMI 50.2 48.7 Source: Fundstrat Capital, Bloomberg 15 08/22/2025 For Exclusive Use of Fundstrat Capital Clien
Slide 16: PMI Recovery - Since 1949, PMI > 50 = Cyclicals & Value
PMI Recovery - Since 1949, PMI > 50 = Cyclicals & Value G RN Y Since 1949, Cyclicals outperform, but more interestingly, in the last 25 years, 3 groups consistently outperform— Technology, Energy and Value. Figure: Sector relative forward performance (%) when PMI recovers above 50 Value Health Consu
Slide 17: GRNY Theme Introduction - Energy/Cyber Security
GRNY Theme Introduction - Energy/Cyber Security G RN Y Given the less-than-clear status of the energy transition, the increased incidence of Energy/Cyber climate-change-caused adverse-weather Security events and their impact on the power grid, stress on the electrical grid from data-center demand,
Slide 18: Energy/Cyber Security
GRNY Theme Introduction - Energy/Cyber Security G RN Y Cyber threats Moved to Focus shifted from preventative parabolic rise to actively managed cloud based Source: McKinsey & Company 18 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 19: GRNY Theme Introduction – Energy/Cyber Security
GRNY Theme Introduction – Energy/Cyber Security G RN Y 19 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 20: G RN Y
G RN Y Source: Zscaler 20 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 21: GRNY Theme Introduction - Millennials
GRNY Theme Introduction - Millennials G RN Y For most of the past decade, discussions about millennials (96 million, peak size) have focused on Millennials their youth and teenage tendencies. Meanwhile, their economic impact on the U.S. and global economy has been accelerating. Demographics explain
Slide 22: Millennials – Population by Age Group
GRNY Theme Introduction – Millennials G RN Y Demographics explain business cycles better than most market participants recognize. Figure: Total US Population divided by age groups 3,000 2,000 1,000 0 1,000 2,000 3,000 100+ Male Pop. (‘000) Female Pop. (‘000) Years of Avg 95 90 Generation… birth age
Slide 23: Generations % Share of Household Disposable Income
GRNY Theme Introduction – Millennials G RN Y And by 2029, Millennials will control the largest share of disposable income… Figure: Percentage Share of Disposable Income of each generation From 1990 to 2050 Today 50 Boomers 2029 is Millennials 45 cross-over 40 Generations % share of Household Disposa
Slide 24: Millennials Average Annual Earnings
Millennials average age is 32… still early in life cycle G RN Y Life cycle of Millennial spending and income Survey of Consumer Finance for 2017 “real income” levels (born between 1981-2000) Age 30-60 Prime Income years Millennials $55,000 Average Age As of 2023 $50,440 $51,324 $49,556 $48,932 $50,0
Slide 25: Housing: Home Values Follow Adults Age 30-48
HOUSING: Home values follow moves in adults age 30-48 G RN Y Prime Leverage years: # adults age 30-48 Since 1935 per the US Census Bureau '44 '49 '54 '59 '64 '69 '74 '79 '84 '89 '94 '99 '04 '09 '14 '19 '24 Generation… Birth years 225 Greatest Generation 1910 1927 Housing Value as % of GDP Silent Gen
Slide 26: Stock: Equity Also Follows Adults Age 30-48
STOCK: Like housing, equity also follows moves in adults age 30-48 G RN Y Prime Leverage years: # adults age 30-48 Since 1935 per the US Census Bureau Primary debt leverage (age 30-48) - 5-yr % chg historical Primary debt leverage (age 30-48) - 5-yr % chg US Census forecast 20% Today Stagflation Fin
Slide 27: Innovation: Primary Debt Leverage Age Population vs. US Patent Grants
INNOVATION: Primary Debt Leverage Age Population vs. US Patent Grants G RN Y 5-Yr Rolling % Change in Primary Debt Leverage Age Population and US Patent Grants Since 1935 Primary debt leverage (age 30-48) -- 5-yr % chg historical Primary debt leverage (age 30-48) -- 5-yr % chg US Census forecast 193
Slide 28: Wealth Transfer: Millennials Set to Inherit $68 Trillion
WEALTH TRANSFER: Millennials set to inherit $68 trillion in next 20 years G RN Y A study by Coldwell Banker (Coldwell Banker report here) shows Millennials are expected to inherit $68T over the next 20 years. • The latest Federal Reserve Survey of Consumer Finances shows that Boomers and Silent Gene
Slide 29: GRNY Theme Introduction – Global Labor Shortage
GRNY Theme Introduction – Global Labor Shortage G RN Y The outperformance of Technology during periods of labor shortage is substantial, and we believe the Global Labor forecasted 2015-2047 labor shortage will also benefit Technology stocks. Suppliers These stocks are identified as producers or supp
Slide 30: Labor: Global Excess Supply of Labor Is Gone
LABOR: Global excess supply of labor is gone, first time since 1973 G RN Y Spread between total population growth and workforce growth (age 16-64) Per UN DESA 2018 2028 Delta CAGR Workforce Workforce Workforce Workforce % current Total (16-64) Total (16-64) Total (16-64) Total (16-64) Shortage workf
Slide 31: Prior Periods of Labor Shortage Saw Surge in Technology Spending
Prior periods of labor shortage saw a surge in Technology spending… G RN Y Technology spend (as % GDP) is shown below and the shaded areas show the two prior periods of “labor shortage” (population outstripped worker growth). • As shown, during both periods, Technology spend rose sharply as % GDP (+
Slide 32: Technology Performance During Labor Shortage
GRNY Theme Introduction – Global Labor Shortage G RN Y Figure: Comparative relative performance of US Technology stocks during periods of US labor shortage Shortage of labor: Shortage of labor: Shortage of labor: 1948-1967 1991-1999 2015-2047 Total population CAGR less T.working-age Pop CAGR lesspop
Slide 33: GRNY Theme Introduction – Easing Financial Conditions
GRNY Theme Introduction – Easing Financial Conditions G RN Y As macroeconomic conditions allow the Fed to take a doveish stance, and financial conditions ease, certain Easing industries and companies are positioned to benefit. Financial Conditions Holdings Corresponding to the Theme: 40 AXON GOOGL W
Slide 34: Rates Too Restrictive in 2024
GRNY Theme Introduction – Easing Financial Conditions G RN Y Fed Funds Rate vs Core Consumer Price Index (CPI) YoY Since 2000 7.0 Fed Funds (Upper Bound) and Core CPI YoY Forecast* 6.0 5.50 (Sep ‘24) 5.0 4.0 3.0 Core CPI YoY 2.0 1.73 1.0 Fed Funds 0.0 6.0 DELTA: Fed Funds Less Core CPI YoY (Upper Bo
Slide 35: Industry Correlation to Financial Condition Indexes
GRNY Theme Introduction – Easing Financial Conditions G RN Y Global Industry Classification Standard (GICS) 3 Industry Correlation to Various Financial Condition Indexes Correlation refers to how the performance or behavior of specific industries (classified under GICS 3) correlates or moves in rela
Slide 36: GRNY – Portfolio Construction Process
GRNY – Portfolio Construction Process G RN Y Portfolio Strategy Workflow Conduct comprehensive Macro Research: Market/Economics research and perform rigorous • Economic Indicators: GDP, Inflation, analysis of market dynamics and Labor Market, consumer spending. Analyses macroeconomic factors to form
Slide 37: GRNY – Portfolio Construction Process
GRNY – Portfolio Construction Process G RN Y Portfolio Strategy Workflow Conduct comprehensive research and perform rigorous Market/Economics analysis of market dynamics and Analyses macroeconomic factors to form informed perspectives on equity • Market Short-term Dynamics market and other asset cla
Slide 38: GRNY – Portfolio Construction Process
GRNY – Portfolio Construction Process G RN Y Portfolio Strategy Workflow Conduct comprehensive research and perform rigorous Market/Economics analysis of market dynamics and Analyses macroeconomic factors to form informed perspectives on equity market and other asset classes Create a universe of inv
Slide 39: Why Fundstrat Granny Shots US Large Cap ETF?
Why Fundstrat Granny Shots US Large Cap ETF? G RN Y The Most Important Themes Implication for Our Partners: Better Long- A Disciplined Approach Term Outcomes An Experienced Team Source: Fundstrat Capital 39 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 40: GRNY – Holdings Summary Statistics
GRNY – Holdings Summary Statistics G RN Y Source: Fundstrat Capital, FactSet. Data as of 8/20/2025 * ETF holdings are subject to change without notice. for the latest, please visit grannyshots.com/holdings. 40 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 41: Fundstrat Capital Partners – Tidal Financial Group
Fundstrat Capital Partners – Tidal Financial Group G RN Y Our partner Tidal Financial Group is an award-winning ETF platform enabling financial institutions to launch,, manage and grow ETFs. Source: Tidal Financial Group 41 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 42: Tidal Financial Group – Operations & Compliance Deliverables
Fundstrat Capital Partners – Tidal Financial Group G RN Y Operations & Compliance Deliverables • Tidal’s Compliance team works closely with the Tidal Trading group to implement and maintain pre-and post-trade compliance controls in our Bloomberg trading process. These controls integrate customized r
Slide 43: Tidal Systems & Data Transfer
Fundstrat Capital Partners – Tidal Financial Group G RN Y Tidal Systems & Data Transfer Source: Tidal Financial Group 43 08/22/2025 For Exclusive Use of Fundstrat Capital Clients Only
Slide 44: Tidal's Intra-Day Spread Monitoring & LMM Engagement
Fundstrat Capital Partners – Tidal Financial Group G RN Y Tidal’s Intra-Day Spread Monitoring & LMM Engagement • Example: Bid/Ask spread (10.18/10.19) deviating from underlying NAV (10.16) • Result: Contacted Market Maker who adjusted spread ensuring better execution Source: Tidal Financial Group 44
Slide 45: Disclosures
G RN Y Disclosures Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 212-293-7140 (option 3), or visit our website at grannyshots.com. Read th
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