AFSC is an actively managed fund of US small-caps from any market sector and industry. The fund seeks to achieve its objective by evaluating individual companies against its quality criteria, which are 1) the durability of the business model, 2) the attractiveness of the industry, 3) financial strength, 4) management's capability, and 5) ESG factors impacting a company. Through fundamental research, the adviser aims to select those companies whose quality and future prospects are not yet fully recognized by the market. The fund will focus on holding a small number of stocks, approximately 35 to 45 issuers. The fund may also invest in non-US companies, including primarily Canadian companies. AFSC was previously a mutual fund with $77 million in AUM prior to converting.

American Healthcare REIT, Inc.

Brinker International, Inc.

Quaker Houghton

Merit Medical Systems, Inc.

Kiniksa Pharmaceuticals International, plc

Seacoast Banking Corporation of Florida

Impinj, Inc.

Ameris Bancorp

Boot Barn Holdings, Inc.

Wintrust Financial Corporation

abrdn Focused U.S. Small Cap Active ETF

AFSC Holdings & Sector Breakdown