Fundstrat Granny Shots US Large Cap ETF · AMEX:GRNY
Fundstrat Granny Shots US Large Cap ETF — Fundstrat Capital — Investor Presentation (February 2026)
57 slides from Fundstrat Granny Shots US Large Cap ETF's investor presentation, Feb 18, 2026
Slide 1: Granny Shots ETFs Investor Deck
G R A N N Y S H OT S Fundstrat Capital Granny Shots ETFs Investor Deck Portfolio Managers GRNY GRNJ GRNI Thomas J. Lee, CFA Ken Xuan, CFA, FRM grannyshots.com inquiry@fundstratcapital.com 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 2: Fundstrat Capital – Who We Are
Fundstrat Capital – Who We Are G R A N N Y S H OT S Fundstrat Capital, led by Chief Investment Officer Thomas “Tom” Lee, is an independent asset manager applying data-driven, emotion-free analysis of multivariate thematic factors to manage the Fundstrat Granny Shots ETFs. Early Traction & Strategy A
Slide 3: Fundstrat Capital – Our Team
Fundstrat Capital – Our Team G R A N N Y S H OT S Thomas J. Lee, CFA CIO & Portfolio Manager With nearly 30 years of experience in macro strategy and equity research, Lee is widely recognized for his data-driven, contrarian market calls and was among the first Wall Street strategists to introduce in
Slide 4: Fundstrat Capital – Our History
Fundstrat Capital – Our History G R A N N Y S H OT S The Granny Shots strategy and ETF lineup are built on more than a decade of Fundstrat research, evolving from a proven, client-driven stock selection framework into a full family of thematic investment solutions. 2014 2015 2016 2017 2018 2019 2020
Slide 5: Fundstrat Capital - Investment Guiding Principles
Fundstrat Capital - Investment Guiding Principles G R A N N Y S H OT S 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 upon evidence and data to suppo
Slide 6: Fundstrat Capital - Why the term Granny Shots?
Fundstrat Capital - Why the term Granny Shots? Like the Granny Shot in basketball — not flashy, just effective — the Granny Shots G R A N N Y S H OT S stock selection strategy reflects Fundstrat’s disciplined, research-driven approach to identifying high-probability opportunities across market cycle
Slide 7: Granny Shots ETF Comparison
Granny Shots ETF Comparison G R A N N Y S H OT S All 3 funds apply the same disciplined Granny Shots investment strategy, expressed through different market segments and objectives. GRNY GRNJ GRNI Fundsrat Granny Shots Fundsrat Granny Shots Fundsrat Granny Shots Fund Name US Large Cap ETF US Small-
Slide 8: GRNY - Fundstrat Granny Shots US Large Cap ETF
GRNY GRNJ GRNI GRNY - Fundstrat Granny Shots US Large Cap ETF G R A N N Y S H OT S Investment Fundstrat Granny Shots US Large-Cap ETF is an actively managed fund that seeks long- Objective term capital appreciation by investing primarily in large-cap U.S. equity securities selected through the Grann
Slide 9: GRNY – Holdings by Theme
GRNY GRNJ GRNI GRNY – Holdings by Theme G R A N N Y S H OT S 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 C
Slide 10: GRNY – Holdings Summary
G R A N N Y S H OT S GRNY – Holdings Summary GRNY GRNJ GRNI Source: Fundstrat Capital, FactSet. Data as of 02/18/2026 * ETF holdings are subject to change without notice. for the latest, please visit grannyshots.com/holdings. 11 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 11: GRNJ - Fundstrat Granny Shots US Small- & Mid-Cap ETF
GRNY GRNJ GRNI GRNJ - Fundstrat Granny Shots US Small- & Mid-Cap ETF G R A N N Y S H OT S Investment Fundstrat Granny Shots US Small- & Mid-Cap ETF is an actively managed fund that seeks Objective long-term capital appreciation by investing primarily in small- and mid-cap U.S. equity securities sele
Slide 12: GRNJ – Holdings by Theme
GRNY GRNJ GRNI GRNJ – Holdings by Theme G R A N N Y S H OT S 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 C
Slide 13: GRNJ – Holdings Summary
G R A N N Y S H OT S GRNJ – Holdings Summary GRNY GRNJ GRNI Source: Fundstrat Capital, FactSet. Data as of 02/18/2026 * ETF holdings are subject to change without notice. for the latest, please visit grannyshots.com/holdings. 14 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 14: GRNI - Fundstrat Granny Shots US Large Cap & Income ETF
GRNY GRNJ GRNI GRNI - Fundstrat Granny Shots US Large Cap & Income ETF G R A N N Y S H OT S Investment Fundstrat Granny Shots US Large Cap & Income ETF is an actively managed fund that seeks to Objective provide income and long-term capital appreciation by combining an options-based income strategy
Slide 15: GRNI – Holdings Summary
G R A N N Y S H OT S GRNI – Holdings Summary GRNY GRNJ GRNI •The Fund will leverage the existing GRNY portfolio, utilizing its holdings as the foundation for income generation. Source: Fundstrat Capital * ETF holdings are subject to change without notice. for the latest, please visit grannyshots.com
Slide 16: Granny Shots Themes Overview
Granny Shots Themes Overview The Granny Shots stock selection strategy currently incorporates seven themes, both shorter- and G R A N N Y S H OT S longer-term, recognizing that not all themes may work simultaneously under varying market conditions. The themes are continually reviewed and may be adju
Slide 17: Granny Shots Themes - Style Tilt
Granny Shots Themes - Style Tilt Shorter-Term (6-12 Months) G R A N N Y S H OT S Style tilts, sometimes referred to as portfolio tilts, represent a portfolio’s exposure to various factors that may allow investors to achieve a higher expected return. Historically, various factors have engendered cycl
Slide 18: Granny Shots Themes - Style Tilt
Granny Shots Themes - Style Tilt G R A N N Y S H OT S 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 Nov 1 and Apr 30 (Next Year) Quality Growth On Annual basis since 1990 Cyclica
Slide 19: Granny Shots Themes - Style Tilt
Granny Shots Themes - Style Tilt G R A N N Y S H OT S 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 Se
Slide 20: Granny Shots Themes - Seasonality
Granny Shots Themes - Seasonality Shorter-Term (6-12 Months) G R A N N Y S H OT S Historically, certain industry groups or stocks may exhibit recurring patterns of performance during specific periods. By reviewing various arrays of returns over long time periods, the Granny Shots strategy seeks to d
Slide 21: Granny Shots Theme Introduction - Seasonality
Granny Shots Theme Introduction - Seasonality G R A N N Y S H OT S The following 8 industries have historically exhibited outperformance during next 6-month period and rank highly in our Quant, Technical and Fundamental models. Semis & Semis Equipment Interactive Media & Services Machinery Chemicals
Slide 22: Granny Shots Themes - PMI Recovery
Granny Shots Themes - PMI Recovery Shorter-Term (6-12 Months) G R A N N Y S H OT S The Purchasing Managers’ Index (PMI) is a monthly economic indicator based on survey responses by private-sector companies in the manufacturing and services sectors. The index typically includes factors such as new or
Slide 23: Granny Shots Theme Introduction - PMI Recovery
Granny Shots Theme Introduction - PMI Recovery G R A N N Y S H OT S PMI: Institute for Supply Management (ISM) and S&P Global Manufacturing PMIs (Since 2019, monthly) S&P Global US ISM Manufacturing Manufacturing PMI 53.0 48.7 Source: Fundstrat Capital, Bloomberg 24 02/18/2026 For Exclusive Use of F
Slide 24: Granny Shots Theme Introduction - PMI Recovery
Granny Shots Theme Introduction - PMI Recovery Since 1949, PMI > 50 Cyclicals & Value G R A N N Y S H OT S While cyclicals outperform, more interestingly, in the last 25 years, 3 groups consistently outperform—Technology, Energy and Value. Figure: Sector relative forward performance (%) when PMI rec
Slide 25: Granny Shots Themes - Energy & Cyber Security
Granny Shots Themes - Energy & Cyber Security G R A N N Y S H OT S Longer-Term (3-5 Years) As accelerated AI adoption drives unprecedented power demand and increases the need to secure the digital infrastructure supporting it, reliable energy systems and robust cybersecurity have become core enabler
Slide 26: GRNY Theme Introduction – Energy & Cyber Security
GRNY Theme Introduction – Energy & Cyber Security G R A N N Y S H OT S Cyber threats Moved to Focus shifted from preventative parabolic rise to actively managed cloud based Source: McKinsey & Company 27 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 27: GRNY Theme Introduction – Energy & Cyber Security
GRNY Theme Introduction – Energy & Cyber Security G R A N N Y S H OT S 28 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 28: ENERGY: The future of AI will reshape the entire energy industry
ENERGY: The future of AI will reshape the entire energy industry G R A N N Y S H OT S Data Center Power Demand Since 2010. Projected through 2030 by International Energy Agency Source: International Energy Agency 29 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 29: ENERGY: Nuclear is the key area along with other green energy
ENERGY: Nuclear is the key area along with other green energy… G R A N N Y S H OT S Electricity generation for data center by fuel type Since 2020. Projected through 2035 by International Energy Agency USA China Nuclear will become the key to fulfill the energy demand in 2030s Source: Fundstrat, Int
Slide 30: ENERGY: Nuclear draws growing interest from hyperscalers
ENERGY: Nuclear draws growing interest from hyperscalers. G R A N N Y S H OT S Electricity generation for data center by fuel type Since 2020. Projected through 2035 by International Energy Agency Source: Fundstrat, Constellation, Google, Amazon 31 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 31: ENERGY: Nuclear enjoys unique bipartisan backing in U.S. energy
ENERGY: Nuclear enjoys unique bipartisan backing in U.S. energy. G R A N N Y S H OT S Source: Fundstrat, NBC, the White House 32 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 32: CYBERSECURITY: Gen AI has boosted cyberattack activities
CYBERSECURITY: Gen AI has “boosted” cyberattack activities G R A N N Y S H OT S Annual number of phishing sites detected Unit: million Source: State of the Phish Report, cited from McKinsey & Company “The cybersecurity provider’s next opportunity: Making AI safer” 33 02/18/2026 For Exclusive Use of
Slide 33: Granny Shots Themes - Millennials
Granny Shots Themes - Millennials Longer-Term (3-5 Years) G R A N N Y S H OT S As the millennial cohort has transitioned into its prime earning and spending years, its influence on the U.S. and global economy has accelerated. Their preferences are reshaping demand across housing, technology, finance
Slide 34: Generational Bets paid off for Boomers and for GenX
“Generational” Bets paid off for Boomers and for GenX G R A N N Y S H OT S 20 years 20 years 35 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 35: GRNY Theme Introduction – Millennials
GRNY Theme Introduction – Millennials G R A N N Y S H OT S 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 Generati
Slide 36: Generations % share of Household Disposable Income
GRNY Theme Introduction – Millennials And by 2029, Millennials will control the largest share of disposable income… G R A N N Y S H OT S 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 Hou
Slide 37: Millennials average age is 32… still early in life cycle
Millennials average age is 32… still early in life cycle G R A N N Y S H OT S 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
Slide 38: HOUSING: Home values follow moves in adults age 30-48
HOUSING: Home values follow moves in adults age 30-48 G R A N N Y S H OT S 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
Slide 39: STOCK: Like housing, equity also follows moves in adults age 30-48
STOCK: Like housing, equity also follows moves in adults age 30-48 G R A N N Y S H OT S 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 S
Slide 40: INNOVATION: Primary Debt Leverage Age Population vs. US Patent Grants
INNOVATION: Primary Debt Leverage Age Population vs. US Patent Grants G R A N N Y S H OT S 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 Censu
Slide 41: WEALTH TRANSFER: Millennials set to inherit $68 trillion in next 20 years
WEALTH TRANSFER: Millennials set to inherit $68 trillion in next 20 years A study by Coldwell Banker (Coldwell Banker report here) shows Millennials are expected to inherit $68T over the next 20 years. G R A N N Y S H OT S • The latest Federal Reserve Survey of Consumer Finances shows that Boomers a
Slide 42: Granny Shots Themes - Global Labor Suppliers
Granny Shots Themes - Global Labor Suppliers G R A N N Y S H OT S Longer-Term (3-5 Years) As aging populations and persistently low birth rates create a long-term global labor shortage, companies are accelerating investment in AI, robotics, and automation to maintain productivity and support margin
Slide 43: LABOR: Global excess supply of labor is gone, first time since 1973
LABOR: Global excess supply of labor is gone, first time since 1973 G R A N N Y S H OT S 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)
Slide 44: Prior periods of labor shortage saw a surge in Technology spending
Prior periods of labor shortage saw a surge in Technology spending… Technology spend (as % GDP) is shown below and the shaded areas show the two prior periods of “labor shortage” (population G R A N N Y S H OT S outstripped worker growth). • As shown, during both periods, Technology spend rose sharp
Slide 45: GRNY Theme Introduction – Global Labor Shortage
GRNY Theme Introduction – Global Labor Shortage G R A N N Y S H OT S 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 Po
Slide 46: Granny Shots Themes – Easing Financial Conditions
Granny Shots Themes – Easing Financial Conditions G R A N N Y S H OT S Longer-Term (3-5 Years) As macro trends give the Federal Reserve room to adopt a more accommodative stance, lower rates and improved liquidity create a more supportive backdrop for risk-taking and business investment. The Granny
Slide 47: FED FUNDS: Why is US policy rate the highest in the DM world?
FED FUNDS: Why is US policy rate the highest in the DM world? G R A N N Y S H OT S Central Bank Policy Rate and Corresponding Government 10Y Yield Sorted by policy rate high to low Central Bank Policy Rate (%) 4.4 4.3 3.9 2.8 2.5 2.3 2.2 2.2 1.9 0.5 0.3 South Korea Australia Sweden Singapore Canada
Slide 48: FED FUNDS: Why is US policy rate the highest in the DM world?
FED FUNDS: Why is US policy rate the highest in the DM world? G R A N N Y S H OT S Central Bank Policy Rate and Corresponding Core Inflation Rate Major developed economies and central banks Central Bank Policy Rate (%) 5.00 US 4.50 UK 4.00 Australia 100 bps 3.50 room to cut? Central Bank Policy Rate
Slide 49: GRNY Theme Introduction – Easing Financial Conditions
GRNY Theme Introduction – Easing Financial Conditions Global Industry Classification Standard (GICS) 3 Industry Correlation to Various Financial Condition Indexes G R A N N Y S H OT S Correlation refers to how the performance or behavior of specific industries (classified under GICS 3) correlates or
Slide 50: Fundstrat Granny Shots – Portfolio Construction Process
Fundstrat Granny Shots – Portfolio Construction Process G R A N N Y S H OT S Portfolio Strategy Workflow Conduct comprehensive Macro Research: Market/Economics research and perform rigorous • Economic Indicators: GDP, Inflation, Labor analysis of market dynamics and Market, consumer spending. Analys
Slide 51: Fundstrat Granny Shots – Portfolio Construction Process
Fundstrat Granny Shots – Portfolio Construction Process G R A N N Y S H OT S 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 Dyn
Slide 52: Fundstrat Granny Shots – Portfolio Construction Process
Fundstrat Granny Shots – Portfolio Construction Process G R A N N Y S H OT S 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
Slide 53: How to Invest – Self Directed Brokerage
How to Invest – Self Directed Brokerage G R A N N Y S H OT S The Fundstrat Granny Shots ETFs are accessible to investors through most major self-directed brokerage platforms. Self Directed Brokerage Fidelity Charles Schwab Interactive Brokers E*TRADE Robinhood Vanguard TD Ameritrade Public Webull So
Slide 54: How to Invest – Financial Advisor Managed
How to Invest – Financial Advisor Managed G R A N N Y S H OT S The Fundstrat Granny Shots ETFs are available on a range of financial advisor–managed platforms, with access continuing to expand. Financial Advisor Managed Source: Fundstrat Capital 55 02/18/2026 For Exclusive Use of Fundstrat Capital
Slide 55: Fundstrat Capital – Fund Transparency
Fundstrat Capital – Fund Transparency G R A N N Y S H OT S Investors consistently cite our weekly updates as a valuable resource for clear client communication and transparent insight into both the Granny Shots ETFs and the broader macro environment. Weekly Macro Videos: Tom Lee’s short weekly video
Slide 56: Disclosures
Disclosures G R A N N Y S H OT S 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 212-293-7132 or visit our website at grannyshots.com. Read
Slide 57: Disclosures
Disclosures G R A N N Y S H OT S GRNJ Specific Risk: Mid-Capitalization Investing. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large -capitalization companies. The securities of mid-capitaliza
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