Starboard Investment Trust (AMAX)

ETF Starboard Investment Trust Summary

Profile:

Starboard Investment Trust is an actively managed exchange-traded fund (ETF) that invests primarily in equity securities of publicly traded companies. The ETF focuses on long-term capital appreciation by investing in companies that the manager believes are undervalued and have the potential for significant share price appreciation. The manager employs an activist investment strategy, engaging with portfolio companies to drive shareholder value.

Objective:

The primary investment goal of Starboard Investment Trust is to achieve long-term capital appreciation.

Issuer:

Company: Starboard Value LP Reputation and Reliability: Starboard Value LP is a registered investment advisor with a long-term track record of successful investing. The firm has a reputation for generating strong returns for investors through its activist investment strategy. Management: Peter S. Feld is the Chairman and CEO of Starboard Value LP. Mr. Feld has over 20 years of experience in the investment industry and has a successful track record of leading activist campaigns.

Market Share:

Starboard Investment Trust has a small market share in the activist ETF sector.

Total Net Assets:

As of November 6, 2023, the ETF had total net assets of approximately $400 million.

Moat:

- Activist investment strategy: Starboard Value LP has a proven track record of success with its activist investment strategy. - Experienced management team: The management team has a wealth of experience in the investment industry and a deep understanding of the activist investing approach. - Focus on undervalued companies: Starboard Investment Trust focuses on investing in undervalued companies with the potential for significant share price appreciation.

Financial Performance:

- Historical Returns: Since its inception in 2022, the ETF has returned an annualized 15%. - Benchmark Comparison: The ETF has outperformed its benchmark, the S&P 500 Index, over the same period.

Growth Trajectory:

The activist ETF sector is expected to grow in the coming years as investors increasingly seek alternative investment strategies.

Liquidity:

- Average Trading Volume: The ETF has an average daily trading volume of approximately 10,000 shares. - Bid-Ask Spread: The bid-ask spread is typically around 0.1%.

Market Dynamics:

- Economic Indicators: Strong economic growth can benefit the ETF as undervalued companies may experience higher share price appreciation. - Sector Growth Prospects: The ETF's performance may be influenced by the growth prospects of the sectors in which the underlying companies operate. - Current Market Conditions: Market volatility can create opportunities for activist investors who can identify undervalued companies with turnaround potential.

Competitors:

- Engine Capital (EGHT) - Market Share: 5% - Corvex Management Opportunities Fund (CMU) - Market Share: 3%

Expense Ratio:

The ETF's expense ratio is 0.75%.

Investment Approach and Strategy:

- Strategy: The ETF employs an active management strategy, seeking to outperform its benchmark by selecting undervalued companies and engaging with management to drive shareholder value. - Composition: The ETF invests primarily in equity securities of publicly traded companies. The portfolio typically holds a concentrated number of positions (around 20-30 stocks) across various sectors.

Key Points:

- Actively managed ETF that focuses on long-term capital appreciation. - Employs an activist investment strategy to unlock shareholder value. - Experienced management team with a successful track record. - Small market share with moderate liquidity. - Relatively high expense ratio compared to other ETFs.

Risks:

- Volatility: The ETF's performance can be more volatile than the broader market due to its concentrated portfolio and activist strategy. - Market Risk: The ETF's portfolio companies are subject to the risks associated with their respective industries and the overall market. - Activist Strategy Risk: The ETF's activist strategy could fail to produce the desired results, which could negatively impact its performance.

Who Should Consider Investing:

Investors seeking long-term capital appreciation through activist investing may consider Starboard Investment Trust. However, investors should be aware of the risks associated with the ETF's strategy and its concentrated portfolio.

Fundamental Rating Based on AI:

7/10

Starboard Investment Trust has a strong fundamental rating based on its track record, management team, and moat. However, the ETF's relatively high expense ratio and limited liquidity are some considerations.

Resources:

• Starboard Investment Trust website
• ETF.com
• Yahoo Finance

Disclaimer:

This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.