FLDZ
RiverNorth Patriot ETF
Elevation Series Trust
ETF
Expense ratio1
0.70%
Net assets2
$3.76M
Holdings2
318
Category
US Equity
2024 return3
16.04%

Investment objective & strategy

As of June 10, 2025 · prospectus

Objective. The RiverNorth Patriot ETF (the Patriot ETF or the Fund) seeks capital growth.

Strategy. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in equity securities, including common stock of mid-cap and large-cap companies, tied to the economy of the U.S. RiverNorth Capital Management, LLC (the Sub-Adviser), the Funds sub-adviser, will consider a company to be tied to the U.S. economy if: 1) the company is organized under the laws of the U.S.; 2) the shares of the company are traded principally in the U.S.; and 3) the company generates at least 90% of its revenue from its activities in the U.S. In addition, to be eligible for inclusion in the Funds portfolio, a company must have, at the time of purchase, a market capitalization over … The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in equity securities, including common stock of mid-cap and large-cap companies, tied to the economy of the U.S. RiverNorth Capital Management, LLC (the Sub-Adviser), the Funds sub-adviser, will consider a company to be tied to the U.S. economy if: 1) the company is organized under the laws of the U.S.; 2) the shares of the company are traded principally in the U.S.; and 3) the company generates at least 90% of its revenue from its activities in the U.S. In addition, to be eligible for inclusion in the Funds portfolio, a company must have, at the time of purchase, a market capitalization over $5 billion. The portfolio will be constructed at the discretion of the Sub-Adviser. In constructing the Funds portfolio, the Sub-Adviser may consider a variety of factors, including its overall market sector and industry weighting, and no one factor is expected to be determinative of investment decisions. Weightings of positions and sectors and industries may be adjusted at any time at the discretion of the Sub-Adviser. Folds of Honor The Sub-Adviser will donate a majority of its sub-advisory fee or 100% of the profit derived from its management of the Fund, whichever is greater, to the Folds of Honor Foundation, a charity focused on providing scholarships to families of veterans. Folds of Honor is a 501(c)(3) non-profit organization, rated 4-star by Charity Navigator and platinum by GuideStar, that provides educational scholarships to the families of military men and women who have fallen or been disabled while on active duty in the United States armed forces. Since 2007, a cumulative average ratio of 91% of every dollar raised by Folds of Honor has been contributed to its scholarship program, which has awarded approximately 62,000 in educational scholarships. Impact Investing The Fund is designed to provide an alternative approach to charity and seeks to deliver true impact investing. While Impact Investing can mean many things, the application of the term here is about delivering real dollars to a charity that directly supports education for the children and families of U.S. service members who were disabled or killed in action. The Fund is designed to deliver real world benefits to those in need now.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
MADRIGAL PHARMACEUTICALS INC $20.94K 0.56%
HCA HEALTHCARE INC $19.40K 0.52%
CASEY'S GENERAL $18.92K 0.50%
EMCOR GROUP INC $18.46K 0.49%
LOWES COS INC $18.19K 0.48%
UNITEDHEALTH GRP $18.13K 0.48%
STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS SALXX $18.01K 0.48%
THE CIGNA GROUP $17.61K 0.47%
REPUBLIC SVCS $17.52K 0.47%
CSX CORP $17.45K 0.46%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
22
Exited
42
Increased
182
Decreased
112
Unchanged
2

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

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Advisers

As of December 31, 2025 · N-CEN
FirmRole
RiverNorth Capital Management, LLC Sub-adviser
TrueMark Investments, LLC Adviser

Footnotes

  1. Expense ratio as of June 10, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2024, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.

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