L2 Tear Sheet US Large Cap Value Strategy – Q1 2025

The Strategy is managed by Matthew Malgari and Sanjeev Bhojraj, PhD of L2 Asset Management, LLC (“L2”), who are coportfolio managers with investment discretion. The Strategy is managed in accordance with the following:

Investment Objective: To provide long-term growth of capital.

Principal Strategies: When buying securities, L2 normally invests at least 80% of net assets in the equity securities of midcapitalization companies, principally common stocks and American Depositary Receipts (“ADRs”) that are traded on major U.S. exchanges. Mid-capitalization companies are defined as those companies with market capitalizations within the range of companies in the S&P 400 Index at the time of investment.