CCFE ETF — Holdings & Analysis

The Concourse Capital Focused Equity ETF (CCFE) is an actively managed equity ETF with $0.04 billion in assets under management. With an expense ratio of 0.95%, CCFE focuses on identifying undervalued mid-cap companies primarily in the US and Canada. The fund employs a bottom-up fundamental analysis approach, selecting a concentrated portfolio of 20-30 stocks, distinguishing itself through a high-conviction, actively managed strategy.

CCFE is an actively managed ETF, investing in equity securities including common stock, preferred stock, REITs, and ADRs. The fund may hold stocks of any capitalization but targets mid-cap companies. The selection process begins with an equity universe from the US and Canada, employing qualitative and quantitative analysis to pinpoint undervalued companies due to temporary market misperceptions. The investment process involves bottom-up fundamental analysis, assessing intrinsic value through financial modeling focused on financial health, growth prospects, future earnings, cash flow, and dividends. High-quality companies with adept management and solid capital strategies are prioritized. Typically, a portfolio of 20-30 companies is selected using a proprietary ranking system evaluating quality, valuation, and timing. Position weights are adjustable, with top ten holdings potentially exceeding 50% of net assets.

CCFE is an actively managed ETF that invests in equity securities, including common stock, preferred stock, REITs, and ADRs, with a focus on mid-cap companies. The fund's investment process begins with a universe of US and Canadian equities, employing both qualitative and quantitative analysis to identify companies undervalued due to temporary market misperceptions. The fund utilizes a bottom-up fundamental analysis, assessing intrinsic value through financial modeling that emphasizes financial health, growth prospects, future earnings, cash flow, and dividends. CCFE prioritizes high-quality companies with strong management and solid capital strategies. The ETF typically holds a concentrated portfolio of 20-30 companies, selected using a proprietary ranking system that evaluates quality, valuation, and timing. As of March 15, 2026, the top holding is Cooper-Standard Holdings Inc (CPS) at 11.62%, followed by Premium Brands Holdings Corp Trust Units Stock Settlement (PBH.TO) at 7.98% and WESCO International Inc (WCC) at 6.58%. The fund's concentrated nature allows for potentially higher returns but also introduces concentration risk.

CCFE presents several risk considerations for investors. The fund's expense ratio of 0.95% is relatively high, which can create a drag on performance, especially when compared to passively managed ETFs. With only 10 holdings, the fund exhibits significant concentration risk, as the performance of a few key holdings can substantially impact the overall return. For example, Cooper-Standard Holdings Inc (CPS) represents 11.62% of the portfolio. The fund's 3-year beta is 0.00, indicating very low volatility relative to the market, but this may be due to its short history since inception in June 2025. Investors should be aware of the potential for higher volatility given the concentrated portfolio and active management style. Past performance does not guarantee future results.

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