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The Twin Oak Short Horizon Absolute Return ETF (the "Fund") seeks capital appreciation with low price volatility. The Adviser considers 'low price volatility' to mean stable returns. The Fund seeks to achieve its objective principally by utilizing defined risk options to generate an absolute return while maintaining a short duration between zero and one year. Defined risk options are options for which the maximum loss for any option during each expiry period is no more than the premium invested to enter the option position. The Fund will invest in long calls, long puts, and debit spread options. The allocation between various strategies will be based on an assessment by the portfolio managers of the attractiveness of either strategy given current economic and market conditions and the existing holdings of the Fund. In any scenario, long calls will always be paired with long puts and for the vertical debit spreads, long vertical debit call spreads will be paired with long vertical debit put spreads. The primary factors informing the Adviser's assessment will be price, duration, liquidity, and risk of a position and its impact on the Fund's overall portfolio.
Manager Directed Portfolios Twin Oak Short Horizon Absolute Return ETF trades on the ARCA stock market under the symbol TOAK.
As of February 27, 2026, TOAK stock price declined to $28.52 with 432 million shares trading.
TOAK has a beta of -0.01, meaning it tends to be less sensitive to market movements. TOAK has a correlation of 0.04 to the broad based SPY ETF.
TOAK has a market cap of $78.16 million. This is considered a Micro Cap stock.
TOAK has underperformed the market in the last year with a price return of +4.0% while the SPY ETF gained +18.5%. TOAK has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.9% and +0.2%, respectively, while the SPY returned +1.2% and +0.6%, respectively.
TOAK support price is $28.52 and resistance is $28.57 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TOAK shares will trade within this expected range on the day.
