The fund is an actively managed exchange-traded fund that seeks to achieve its investment objective, capital appreciation, by investing primarily in the equity securities of Neocloud Companies. The adviser defines Neocloud Companies as those with at least 50% of revenue, contracted backlog, or committed capital expenditure attributable to GPU-as-a-Service platforms, high-density AI data centers, power infrastructure supporting those facilities, and high-speed networking technologies for AI-scale data transfer.

Nebius Group N.V.

CoreWeave, Inc. Class A Common Stock

IREN Limited

Hut 8 Corp.

Applied Digital Corp.

TeraWulf Inc.

Galaxy Digital

Cipher Mining Inc.

Riot Platforms, Inc.

Core Scientific, Inc.

Financial Services

Technology

Communication Services

Roundhill Neocloud ETF

NCLD Holdings & Sector Breakdown