WHITEWOLF Publicly Listed Private Equity ETF
LBO
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Nov 30, 2023
- CIK
- 0001529390
- Website
- lbo.fund
- Similar Companies
- Business
- WHITEWOLF Publicly Listed Private Equity ETF (LBO) is an actively managed, income-oriented exchange-traded fund that provides investors with exposure to components of the leveraged buyout ecosystem, including publicly listed private equity buyout firms and sponsors, Business Development Companies (BDCs), leverage providers, and related asset managers; BDCs primarily invest in the debt and equity of small- to mid-size U.S. companies. The Fund seeks long-term capital appreciation and current income through a diversified portfolio of approximately 40 equity holdings, with top positions including Ares Capital Corp (10.95%), Blackstone Secured Lending Fund (8.86%), Hercules Capital Inc (8.47%), Golub Capital BDC Inc (5.74%), and Ares Management Corp (5.53%), representing about 39.55% of assets. Launched on November 30, 2023, and listed on the Cboe BZX Exchange, LBO is a series of the EA Series Trust, a Delaware statutory trust, with shares domiciled in the United States and available primarily to U.S. investors. Headquartered in Miami, Florida, at 501 Brickell Key Drive, the ETF is managed by White Wolf Capital Advisors, LLC, a division of White Wolf Capital Group, Inc., which began operations in late 2011 and maintains additional offices in Chicago, Montreal, and New York City; the Fund's portfolio managers are Elie P. Azar, Chief Executive Officer, and Rahul Hukeri, Managing Director. Geographically focused on U.S. publicly listed securities tied to North American private markets, LBO offers liquidity and transparency absent in traditional private equity while targeting institutional and individual investors seeking private market exposure without direct illiquid investments. The Fund does not employ leverage at its level, rebalances quarterly, and reports a net expense ratio of 6.71%, inclusive of acquired fund fees and expenses from underlying holdings. In recent developments, LBO marked a strategic expansion for White Wolf Capital Group into public markets through the launch of its inaugural ETF in November 2023, broadening access to its private capital expertise amid a resurgence in leveraged buyouts; assets under management reached approximately $9.82 million as of late 2025, with strong 2024 performance matching broad U.S. market returns and outperforming private capital peers. The Fund distributed dividends, including $0.62 per share ex December 30, 2024, underscoring its income focus, while recent portfolio adjustments reflect active management amid favorable debt markets and M&A activity. No major acquisitions, partnerships, or reorganizations have been announced for the ETF itself within the last two years, with operations emphasizing ongoing quarterly reconstitutions and performance tracking against miscellaneous sector benchmarks.