Reckoner BBB-B CLO Reinvesting ETF (RCLR) is an actively managed exchange-traded fund that seeks to provide exposure to debt tranches of collateralized loan obligations (CLOs) rated between BBB+ and B- (or equivalent), with a focus on compounding value through distribution minimization and continuous reinvestment of dividends. The fund invests substantially all of its assets in shares of affiliated and unaffiliated underlying funds, primarily the Reckoner BBB-B CLO ETF (RCLO) and Reckoner BBB-B CLO Annual ETF (RCLY), which target BBB- and BB-rated CLO bonds; it operates as a nontraditional bond vehicle distributing dividends, with shares trading on NYSE Arca. Launched on February 10, 2026, RCLR forms part of Reckoner Capital Management LLC's expanding suite of CLO-focused ETFs, which the New York-based adviser—founded in October 2024 and backed by RedBird Capital Partners—has grown through recent launches including RCLO in October 2025 and a series of reinvesting and annual distribution options (RAAR, RAAY, RCLR, RCLY) in February 2026 to offer investors greater tax flexibility and exposure to alternative credit strategies across AAA- and BBB-BB-rated CLOs.