we back foundational companies led by exceptional teams.
METHODOLOGY
The Avory Foundational ETF is built differently: focused on the future, disciplined by design.
The ETF is an actively managed, high-conviction core equity strategy that pairs structural growth with fundamental rigor. We start with a simple question: Where is the world headed across consumer and enterprise? From there, we seek companies positioned to fulfill those opportunities and become foundational to the next era of economic progress.
Our research is centered on the structural forces reshaping economies: automation, evolving consumer habits, the future of mobility, digital identity, education disruption, and more…
The portfolio is anchored by Avory’s 6M’s framework,
- Evaluating Management
- Market Growth
- Market Share Growth,
- Margin Expansion,
- Multiple Expansion, and
- Margin of Safety.
This discipline allows us to identify businesses with durable economics and real value creation potential, shaping a forward-looking core equity foundation for long-term investors
WHY INVEST IN THIS ETF?
Designed as a core equity allocation, this ETF applies rigorous in-house research, data-driven discipline, and forward insight to identify businesses positioned to shape, not chase the future.
FUND OBJECTIVE
The Avory Foundational ETF (the “Fund”) seeks to achieve long-term capital appreciation.
FUND HOLDINGS
| TICKER | NAME | CUSIP | SHARES | PRICE | Market Value ($mm) | % of NET ASSETS | EFFECTIVE_DATE |
|---|---|---|---|---|---|---|---|
| PAYC | Paycom Software Inc | 70432V102 | 18.013 | 232,31 | 4,18 | 6.23 | 08/27/2026 |
| WIX | Wix.com Ltd | M98068105 | 15.881 | 82,29 | 1,31 | 1.95 | 08/27/2026 |
| MNDY | Monday.com Ltd | M7S64H106 | 16.361 | 92,55 | 1,51 | 2.25 | 08/27/2026 |
| Cash&Other | Cash & Other | -25.216 | 1,00 | -0,03 | -0.04 | 08/27/2026 | |
| ZM | Zoom Communications Inc | 98980L101 | 47.884 | 93,83 | 4,49 | 6.69 | 08/27/2026 |
| Z | Zillow Group Inc | 98954M200 | 78.579 | 34,95 | 2,75 | 4.09 | 08/27/2026 |
| XMTR | Xometry Inc | 98423F109 | 34.606 | 88,08 | 3,05 | 4.54 | 08/27/2026 |
| PATH | UiPath Inc | 90364P105 | 106.480 | 16,76 | 1,78 | 2.66 | 08/27/2026 |
| UBER | Uber Technologies Inc | 90353T100 | 15.532 | 78,49 | 1,22 | 1.82 | 08/27/2026 |
| SBUX | Starbucks Corp | 855244109 | 18.463 | 108,49 | 2,00 | 2.98 | 08/27/2026 |
| XYZ | Block Inc | 852234103 | 64.269 | 83,10 | 5,34 | 7.95 | 08/27/2026 |
| SITE | SiteOne Landscape Supply Inc | 82982L103 | 15.615 | 96,07 | 1,50 | 2.23 | 08/27/2026 |
| CRM | Salesforce Inc | 79466L302 | 7.459 | 205,62 | 1,53 | 2.28 | 08/27/2026 |
| RBLX | ROBLOX Corp | 771049103 | 31.012 | 37,56 | 1,16 | 1.73 | 08/27/2026 |
| ABNB | Airbnb Inc | 009066101 | 21.158 | 188,07 | 3,98 | 5.93 | 08/27/2026 |
| OMCL | Omnicell Inc | 68213N109 | 87.011 | 33,45 | 2,91 | 4.33 | 08/27/2026 |
| OKTA | Okta Inc | 679295105 | 32.483 | 134,42 | 4,37 | 6.5 | 08/27/2026 |
| NEE | NextEra Energy Inc | 65339F101 | 12.903 | 84,22 | 1,09 | 1.62 | 08/27/2026 |
| LZ | Legalzoom.com Inc | 52466B103 | 255.215 | 5,90 | 1,51 | 2.24 | 08/27/2026 |
| FWRG | First Watch Restaurant Group Inc | 33748L101 | 216.884 | 12,89 | 2,80 | 4.16 | 08/27/2026 |
| FGXXX | First American Government Obligations Fund 12/01/2031 | 31846V336 | 136.134 | 100,00 | 0,14 | 0.2 | 08/27/2026 |
| META | Meta Platforms Inc | 30303M102 | 5.368 | 576,14 | 3,09 | 4.61 | 08/27/2026 |
| BROS | Dutch Bros Inc | 26701L100 | 33.024 | 51,23 | 1,69 | 2.52 | 08/27/2026 |
| YOU | Clear Secure Inc | 18467V109 | 70.809 | 44,25 | 3,13 | 4.67 | 08/27/2026 |
| CSCO | Cisco Systems Inc | 17275R102 | 14.868 | 112,36 | 1,67 | 2.49 | 08/27/2026 |
| BX | Blackstone Inc | 09260D107 | 26.438 | 143,20 | 3,79 | 5.64 | 08/27/2026 |
| BMNR | BitMine Immersion Technologies Inc | 09175A206 | 59.494 | 24,91 | 1,48 | 2.21 | 08/27/2026 |
| AMZN | Amazon.com Inc | 023135106 | 14.222 | 260,28 | 3,70 | 5.51 | 08/27/2026 |
Fund holdings are subject to change and are not recommendations to buy or sell any security.
FUND DOCUMENTS
FUND DETAILS
Current Nav and market price
Month-end Performance
| Fund Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AVRY | MKT | 3.52 | 5.33 | 0.98 | -1.06 | 07/31/2026 | 01/21/2026 | |||||
| AVRY | NAV | 3.41 | 5.31 | 0.87 | -1.15 | 07/31/2026 | 01/21/2026 |
Quarter-End Performance
| Fund Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AVRY | MKT | -2.51 | 12.01 | -4.43 | 06/30/2026 | 01/21/2026 | ||||||
| AVRY | NAV | -2.49 | 12.21 | -4.4 | 06/30/2026 | 01/21/2026 |
The performance data quoted represents past performance and there is no guarantee of future results. Investment returns 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. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
Historical Premium/discount
The Premium/Discount shows the difference between the daily market price of the Fund ‘s shares and the Fund’s net asset value (“NAV”). The table shows the premium or discount of the midpoint price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range. The amount that the fund’s Market Price is above the reported NAV is called the premium. The amount that the fund’s Market Price is below the reported NAV is called the discount.
Completed calendar quarters of current year
| Year | Quarter | Days Traded at Premium | Days Traded at Discount |
|---|---|---|---|
| 2026 | 2 | 41 | 20 |
| 2026 | 1 | 22 | 21 |
Most Recent completed calendar year
| Days Traded at Premium | Days Traded at Discount |
|---|---|
Fund distributions
| Ex Date | Record Date | Payable Date | Income | Short Term Capital Gain | Long Term Capital Gain | Total Capital Gain | Total Distribution |
|---|---|---|---|---|---|---|---|
Avory & Co. makes no representations, warranties, endorsements, or recommendations regarding any brokerage firms mentioned here. Avory & Co. has not reviewed the brokerage firm’s websites and does not guarantee any claims or assumes any responsibility for the content, information, products or services found on the linked third-party websites. Brokerage firms and hyperlinks are provided herein as a convenience only. Avory & Co. is not affiliated with any of the third-party entities mentioned herein.
Further Assistance
If you have any inquiries or questions, please contact us by calling 305.306.9494 or emailing Team@avoryco.com.
Our team is ready to help and happy to connect.
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Suite 307, Miami, FL 33133
Phone: +1.563.320.1688