| Investment Objective: |
The Leatherback Long/Short Alternative Yield ETF (LBAY) is an actively managed exchange-traded fund that seeks income generation and capital appreciation through shareholder yielding equities and income producing securities. Leatherback establishes long positions in securities it believes will provide sustainable shareholder yield and takes short positions in securities it believes will decline in price. The Fund s long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. The Fund s equity securities may include common stocks, preferred stocks, other ETFs, closed-end funds, business development companies ( BDCs ), master limited partnerships ( MLPs ), real estate investment trusts ( REITs ), and publicly traded companies that are formed to own operating assets that produce defined cash flows ( YieldCos ). Leatherback uses a quantitative and fundamental approach to identify companies it believes have the capacity to reward shareholders. The bias is towards dividend awards, which seeks to provide downside risk mitigation and are additive to total return. |
