Longnook Uncommon Compounders ETF is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in equity securities of companies around the world that its sub-adviser identifies as “Misclassified Compounders.” The fund focuses on durable, high-quality businesses that the sub-adviser believes are priced by the market as though they do not have those characteristics. It may invest globally across developed and emerging markets and in companies of any market capitalization.