LRNZ

TrueShares Technology, AI & Deep Learning ETF

AI & DEEP LEARNING CATEGORY KILLERS / CONVICTION THROUGH CONCENTRATION / INDUSTRY EXPERTISETrueShares Technology, AI & Deep Learning ETF (LRNZ) seeks to provide thematic exposure to a concentrated portfolio of technology companies that are significantly involved in the application of advanced levels of artificial intelligence within their businesses. LRNZ generally holds 20-30 positions representing companies we believe possess innovative AI and Deep Learning solutions that represent a distinct competitive advantage in a particular industry. A focus on secular growth companies helps lower correlation to broad market indices. LRNZ is led by a portfolio manager with a deep understanding of the technology sector and an ability to conduct extensive qualitative fundamental research.

Invest

As Of

Dec 18, 2025

MM/DD/YYYY

Inception Date

Feb 28, 2020

MM/DD/YYYY

NAV

47.05

XX.XX

(Change:

0.74

X.XX

1.6

X.XX

)

Market Price

47.04

XX.XX

(Change:

0.73

X.XX

1.58

X.XX

)

Net Assets

32935445.31

—

YTD Return

33.46

XX.XX

Expense Ratio

0.68

X.XX

Fund Details

Listing Information

Inception Date

Feb 28, 2020

Primary Exchange

NYSE

Ticker

LRNZ

CUSIP

210322756

IOPV

N/A

NAV Symbol

LRNZ.NV

Fund Documents

Prospectus

Fact Sheet

Annual Financial Statements & Additional Information

Annual Shareholder Report

Investment Case

Launch Press Release

Part F Schedule of Investments – 03/31/2023

Part F Schedule of Investments – 03/31/2024

Part F Schedule of Investments – 03/31/2025

Part F Schedule of Investments – 09/30/2022

Part F Schedule of Investments – 09/30/2023

Part F Schedule of Investments – 09/30/2024

Part F Schedule of Investments – 09/30/2025

Proxy Statement – April 14, 2025

SAI

Semi-annual Financial Statements & Additional Information

Semi-annual Shareholder Report

Summary Prospectus

Supplement 03/2025

Scroll for more documents. ⬇

Scroll for more documents. ⬆

Details

As Of

Dec 18, 2025

MM/DD/YYYY

Net Assets

32935445.31

—

Shares Outstanding

700000

XXX,XXX

30 Day Median Bid/Ask Spread

0.17

X.XX

Expense Ratio

0.68

X.XX

Number of Holdings

Reset Frequency

Annual

^*The unitary management fee for ERNZ is 0.75%, which represents the direct expenses charged by the Fund. The 3.25% expense ratio shown in the most recent prospectus includes Acquired Fund Fees and Expenses (AFFE), which were materially higher at that time. Based on the latest semi-annual report, AFFE have been reduced and are expected to be significantly lower going forward.

Performance

As of:

Dec 18, 2025

MM/DD/YYYY

As of:

Oct 31, 2025

MM/DD/YYYY

1 month

3 months

6 months

YTD

1 year

Since Inception

NAV

This is some text inside of a div block.

14.23

X.XX

17.05

X.XX

40.39

X.XX

33.46

X.XX

36.57

X.XX

108.40

X.XX

Market Price

This is some text inside of a div block.

14.22

X.XX

17.04

X.XX

40.29

X.XX

33.42

X.XX

36.35

X.XX

108.30

X.XX

NASDAQ Composite Total Return Index

[Index]

4.72

X.XX

12.49

X.XX

36.43

X.XX

23.50

X.XX

31.99

X.XX

189.10

X.XX

As of:

MM/DD/YYYY

1 month

3 months

6 months

YTD

1 year

Since Inception

NAV

X.XX

Market Price

X.XX

NASDAQ Composite Total Return Index

[Index]

X.XX

As of:

Oct 31, 2025

MM/DD/YYYY

1 Year

3 Years

5 Years

10 Years

15 Years

Since Inception

NAV

This is some text inside of a div block.

36.57

X.XX

26.05

X.XX

6.41

X.XX

13.82

X.XX

Market Price

This is some text inside of a div block.

36.35

X.XX

26.04

X.XX

6.47

X.XX

13.81

X.XX

NASDAQ Composite Total Return Index

[Index]

31.99

X.XX

30.24

X.XX

17.68

X.XX

20.57

X.XX

Performance Disclosure

Expense ratio: 0.68%

Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds ("ETFs") in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value ("NAV") and are not individually redeemable from the fund. Call 877.774.TRUE for more information. Click here to view or download the factsheet for quarter-end standardized performance.

Index performance does not represent TrueShares fund performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares.

The NASDAQ Composite is a stock market index of the common stocks and similar securities listed on the NASDAQ stock market. The index measures the performance of all domestic and international based common type stocks listed on the NASDAQ Stock Market. It includes common stocks, ordinary shares, ADRs, shares of beneficial interest or limited partnership interests and tracking stocks. The index is market capitalization-weighted. The composition of the NASDAQ Composite is heavily weighted towards information technology companies.

To view our proxy voting records, click here and here.

Fund Details

Outcome Period Values

As Of

MM/DD/YYYY

ETF Starting NAV/Period Return

XX.XX

X.XX

SPX Index Reference PRice

X,XXX.XX

Downside Buffer

Expected Upside Participation

–

Days Remaining

days

day

Current Outcome Period Values

As Of

Dec 18, 2025

MM/DD/YYYY

ETF Current NAV/Period Return

XX.XX

X.XX

SPX Period Return

XX.XX

Remaining Buffer

Downside Before Buffer

X.XX

Remaining Outcome Period

days

Top 10 Holdings

As of:

Dec 19, 2025

MM/DD/YYYY

Download Holdings CSV

Ticker

Security Description

CUSIP / ISIN

% of Funds

Shares / Contracts

Market Value

NVDA

NVIDIA Corp

67066G104

9.70

18355

3196340

CRWD

Crowdstrike Holdings Inc

22788C105

9.62

6642

3169961

MDB

MongoDB Inc

60937P106

7.85

6085

2587342

SNOW

Snowflake Inc

833445109

6.92

10302

2279936

GPCR

Structure Therapeutics Inc

86366E106

6.43

33893

2116618

IOT

Samsara Inc

79589L106

5.11

44094

1682186

AMZN

Amazon.com Inc

023135106

4.79

6965

1579383

LLY

Eli Lilly & Co

532457108

4.51

1405

1484916

NTRA

Natera Inc

632307104

4.34

6359

1429122

AMD

Advanced Micro Devices Inc

007903107

4.14

6790

1365197

Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

Distributions

Ex-Date

Record Date

Payable Date

Amount

Rate Type

Paid

Dec 22, 2020

Dec 23, 2020

Dec 24, 2020

X.XXX

Upcoming

XXXXX

Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

Premium/Discount

As of:

Dec 18, 2025

MM/DD/YYYY

The table and line graph above are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to the Fund’s daily net asset value (“NAV”). The table and line graph represent past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than NAV when those shares are sold because shares are bought and sold at current.

The performance data quoted represents past performance. Past performance does not guarantee future results.

Supplemental Discussion

TrueShares (“Advisor”) will provide a discussion in the event the ETF’s premium or discount has been greater than 2% for seven consecutive trading days.

subadvisor

Black Hill Capital Partners

Black Hill Capital Partners, LLC is a private investment company and general partner acting as investment manager for separately managed accounts and sub-advisor of Active ETF(s). Our objective is long term wealth creation for our clients, treating our clients' capital as we do our own.

We know and understand technology. We focus our investment efforts on the technology sector and users of technology companies that use technology as competitive advantage to gain market share. We always rely on our own rigorous fundamental research to identify new and disruptive technology trends and the companies benefiting from the trends. Once identified, we "buy and hold" these companies long term, with holding periods often lasting multiples of years or even longer.

Request a Meeting

Invest Through Your Brokerage

Send to your Financial Advisor

Discuss how

LRNZ

may fit into your portfolio and whether they align with your investment goals.

Email your advisor

Disclosures

The 30-Day Yield represents net investment income earned by the Fund over the 30-Day period ended 6/30/2022, expressed as an annual percentage rate based on the Fund's share price at the end of the 30-Day period.

Before investing, carefully consider the TrueShares ETFs investment objectives, risks, charges and expenses. Specific information about TrueShares is contained in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.www.true-shares.com. Read the prospectus carefully before you invest.

The fund is distributed by Paralel Distributors LLC, Member FINRA. Paralel is not affiliated with TrueMark Investments, LLC and BlackHill Capital Management.

An investment in TrueShares is subject to numerous risks, including possible loss of principal. The ETFs are subject to the following principal risks: Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk associated with ETFs; Equity Market Risk; Management Risk; Market Capitalization Risk (Large Cap; Mid Cap, Small Cap Stock); Market Risk; New Fund Risk: The Fund is a recently organized, non-diversified management investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision. Additionally, the Adviser has not previously managed a registered fund, which may increase the risks of investing in the Fund.

The TrueShares AI & Deep Learning ETF (AI ETF) is also subject to the following risks: Artificial Intelligence, Machine Learning and Deep Learning Investment Risk - the extent of such technologies' versatility has not yet been fully explored. There is no guarantee that these products or services will be successful and the securities of such companies, especially smaller, start-up companies, are typically more volatile than those of companies that do not rely heavily on technology. Foreign Securities Risk -The Fund invests in foreign securities which involves certain risks such as currency volatility, political and social instability and reduced market liquidity. Growth Investing Risk - The risk of investing in growth stocks that may be more volatile than other stocks because they are more sensitive to investor perceptions of the issuing company's growth potential. IPO Risk - The Fund may invest in companies that have recently completed an initial public offering that are unseasoned equities lacking a trading history, a track record of reporting to investors, and widely available research coverage. IPOs are thus often subject to extreme price volatility and speculative trading. New Issuer Risk - Investments in shares of new issuers involve greater risks than investments in shares of companies that have traded publicly on an exchange for extended periods of time. Non-Diversification Risk - The Fund is non-diversified which means it may be invested in a limited number of issuers and susceptible to any economic, political and regulatory events than a more diversified fund.

Individual investors should contact their financial advisor or broker dealer representative for more information on TrueShares ETFs.

Investment Products and Services are: NOT FDIC INSURED / MAY LOSE VALUE / NO BANK GUARANTEE.

All registered investment companies, including TrueShares, are obliged to distribute portfolio gains to shareholders at year-end regardless of performance. Trading in TrueShares ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer.

TrueShares ETFs are bought and sold through exchange trading at market price, not Net Asset Value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

ETF shares may be bought or sold throughout the day at their market price, not their NAV, on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's NAV. Brokerage commissions and ETF expenses will reduce returns.

TrueShares ETFs (the "Funds") are registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940.

TrueMark Investments, LLC is the investment advisor to the Funds and receives a fee from the Funds for its services.

TrueShares ETFs are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy nor an offer to sell shares of any fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

30-Day Median Bid-Ask Spread: Gives investors the midpoint within the spread between an ETF’s selling price and buying price. It is calculated over the last 30 days in 10 second intervals by dividing the difference between the bid (sell price) and offer (buy price) by the midpoint of the National Best Bid Offer (NBBO) and identifying the median of those values.