Fieldstone Merlin Dynamic Lg Cp Gr ETF
FMDG
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ROIC.AI
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- Fieldstone Merlin Dynamic Large Cap Growth ETF (FMDG) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing principally in a portfolio of 25 U.S.-listed large cap growth equity securities selected by its sub-adviser, Merlin Asset Management, LLC (MAMMerlin); these securities typically feature market capitalizations above $5 billion, high profitability, sustainable earnings growth expected to outpace the broader market, and attractive valuations relative to projected growth. The fund employs a comprehensive multivariate investment process incorporating bottom-up stock selection, top-down analysis, quantitative evaluation, and macroeconomic overlays, with holdings generally equally weighted across sectors such as consumer discretionary, health care, financials, industrials, and information technology; under normal market conditions, the portfolio is periodically rebalanced to maintain equal allocations, resulting in an expected annual turnover of 30-50%. FMDG trades on NYSE Arca and is a series of the Spinnaker ETF Trust, with OBP Capital, LLC serving as investment adviser and MAMMerlin as sub-adviser led by portfolio manager Michael Obuchowski, Ph.D.; launched in August 2017, the fund is headquartered in the United States and targets institutional and retail investors seeking concentrated exposure to high-conviction large cap growth opportunities without benchmark constraints. The fund maintains a non-diversified portfolio focused exclusively on U.S. equities within the large cap growth segment akin to the Russell 1000 Growth Index parameters, prioritizing individual security analysis over sector or index replication to capitalize on firms demonstrating superior return on equity and long-term growth potential over a 3-5 year horizon. No major strategic changes, such as partnerships, acquisitions, funding rounds, new product launches, or reorganizations, have been announced for FMDG or its affiliates within the last 1-2 years; the fund continues to operate under its original 2017 strategy amid low trading volume and assets under management of approximately $4.71 million as of late 2025.