Subversive Food Security ETF
KCAL
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 217 Centre Street, Suite 122 New York NY United States of America 10013
- IPO Date
- Dec 22, 2022
- Similar Companies
- Business
- Subversive Food Security ETF (KCAL) is an actively managed exchange-traded fund that invests primarily in equity securities of companies facilitating food production, distribution, delivery, and related technologies to support global food security, including innovative agri-tech, sustainable agriculture, biotechnologies in food processing, and advanced supply chain management; it concentrates more than 25% of its assets in the food and agriculture industries, with holdings spanning process industries, consumer non-durables, producer manufacturing, and consumer services across large, mid, small, and micro-cap companies. The ETF, issued by Subversive Capital Advisor LLC—a New York-based registered investment advisor headquartered at 217 Centre Street, Suite 122, New York, United States—launched in December 2022 alongside sibling thematic funds focused on decarbonization and mental health, targeting investors seeking thematic exposure to mission-driven sectors addressing macroeconomic events like supply chain disruptions, climate change impacts, and inflationary pressures on global food systems. Geographically, its portfolio emphasizes North America (approximately 80%), with allocations to Asia Pacific, Europe, and emerging markets including the United States (69%), Japan (14%), Uruguay, Argentina, and South Africa. In a major development, the ETF ceased operations in March 2024, with its last trading day on March 27, 2024, and final shareholder redemptions promptly thereafter, as announced by Subversive Capital due to insufficient investor appetite for these niche active strategies compared to index ETFs and established products; this closure affected KCAL alongside other Subversive thematic ETFs, marking a strategic retrenchment by the issuer amid challenges in domestic market traction for mission-driven emerging sectors. Prior to liquidation, the fund maintained an expense ratio of 0.75%, paid a dividend yield of about 1.37% (last distribution December 2023), and featured 29 holdings with 52% concentration in its top 10 positions, managed by Christian H. Cooper of Subversive Capital. No subsequent relaunches, acquisitions, partnerships, or reorganizations involving KCAL have been reported as of late 2025.