SEC Filings
Date Form Description XBRL Pages
12/19/24 40-APP Form 40-APP: Applications under the Investment Company Act other than those reviewed by Office of Insurance Products 23
11/22/24 NPORT-P Form NPORT-P: 233
11/22/24 NPORT-P Form NPORT-P: 75
09/18/24 497K Form 497K: Summary Prospectus for certain open-end management investment companies filed pursuant to Securities Act Rule 497(k) Cannot be used until March 31, 2009. 8
09/18/24 497K Form 497K: Summary Prospectus for certain open-end management investment companies filed pursuant to Securities Act Rule 497(k) Cannot be used until March 31, 2009. 7
09/11/24 CORRESP Form CORRESP: A correspondence can be sent as a document with another submission type or can be sent as a separate submission. 2
09/11/24 EFFECT Form EFFECT: Notice of Effectiveness 1
09/11/24 497 Form 497: Definitive materials filed under paragraph (a), (b), (c), (d), (e) or (f) of Securities Act Rule 497 111
09/11/24 N-1A/A Form N-1A/A: Initial registration statement filed on Form N1A for open-end management investment companies 153
09/10/24 CORRESP Form CORRESP: A correspondence can be sent as a document with another submission type or can be sent as a separate submission. 3
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Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (855) 513-9988 or visit our website at etf.palmersquarefunds.com. Read the prospectus or summary prospectus carefully before investing.

The Palmer Square CLO Senior Debt ETF and the Palmer Square Credit Opportunities ETF are distributed by Foreside Fund Services, LLC.

The Palmer Square Credit Opportunities ETF: The Fund is subject to liquidity risk and therefore may not be able to sell some or all of the investments that it holds due to a lack of demand in the marketplace or other factors. The Fund is subject to credit risk in that if an issuer or guarantor of a debt security held by the Fund or a counterparty to a financial contract with the Fund defaults or is downgraded or is perceived to be less creditworthy, or if the value of the assets underlying a security declines, the value of the Fund’s portfolio will typically decline. The Fund is classified as “nondiversified,” which means the Fund may invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. Investment in securities of a limited number of issuers exposes the Fund to greater market risk and potential losses than if its assets were diversified. High yield securities, commonly referred to as “junk bonds”, are rated below investment grade by at least one of Moody’s, S&P or Fitch (or if unrated, determined by the Fund’s advisor to be of comparable credit quality high yield securities). High yield funds are speculative, involve greater risks of default, downgrade, or price declines and are more volatile and tend to be less liquid than investment-grade securities. Generally fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, and longer-term and lower rated securities are more volatile than shorter-term and higher rated securities. Using derivatives exposes the Fund to additional or heightened risks, including leverage risk, liquidity risk, valuation risk, market risk, counterparty risk, and credit risk. Derivatives transactions can be highly illiquid and difficult to unwind or value and they can increase Fund volatility.

The Palmer Square CLO Senior Debt ETF:  The Fund is subject to liquidity risk and therefore may not be able to sell some or all of the investments that it holds due to a lack of demand in the marketplace or other factors. The Fund is subject to credit risk in that if an issuer or guarantor of a debt security held by the Fund or a counterparty to a financial contract with the Fund defaults or is downgraded or is perceived to be less creditworthy, or if the value of the assets underlying a security declines, the value of the Fund’s portfolio will typically decline. The Fund is classified as “nondiversified,” which means the Fund may invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. Investment in securities of a limited number of issuers exposes the Fund to greater market risk and potential losses than if its assets were diversified. High yield securities, commonly referred to as “junk bonds”, are rated below investment grade by at least one of Moody’s, S&P or Fitch (or if unrated, determined by the Fund’s advisor to be of comparable credit quality high yield securities). High yield funds are speculative, involve greater risks of default, downgrade, or price declines and are more volatile and tend to be less liquid than investment-grade securities. Generally fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, and longer-term and lower rated securities are more volatile than shorter-term and higher rated securities. Using derivatives exposes the Fund to additional or heightened risks, including leverage risk, liquidity risk, valuation risk, market risk, counterparty risk, and credit risk. Derivatives transactions can be highly illiquid and difficult to unwind or value and they can increase Fund volatility.