TWIN OAK ACTIVE OPPORTUNITIES ETF

The Twin Oak Active Opportunities ETF (“Active Opportunities” or ”TSPX”) seeks long-term capital appreciation. TSPX seeks to achieve its objective by investing in a mix of individual equity securities (e.g. common and preferred stock) of small, medium, and large companies and fixed-income securities such as government or corporate bonds issued by a variety of entities. These fixed-income securities may have varying maturities (e.g. short-term, intermediate or long-term) and credit qualities (e.g. investment grade or below investment grade). TSPX may invest directly in the fixed income securities or utilize other ETFs, which may include other ETFs managed by Twin Oak ETF Company, to achieve the desired exposure.