TPEX — Twin Oak Apex Opportunities ETF

TPEX Fund Overview

TPEX — Twin Oak Apex Opportunities ETF is a US ETF managed by RBB Fund Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: RBB Fund Trust
• Category: Money Market
• Ticker: TPEX
• SEC CIK: 0001618627
• SEC series ID: S000102354
• Share class ID: C000272823

TPEX Investment Objective and Strategy

Twin Oak Apex Opportunities ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by RBB Fund Trust.

Investment objective

The investment objective of the Twin Oak Apex Opportunities ETF (the Fund) is total return.

Principal investment strategy

The Fund is an actively managed exchange-traded fund (ETF) whose investment objective is total return. The Fund seeks to achieve its investment objective by investing in domestic equity securities (e.g. common and preferred stock) of all market capitalizations. The Fund may invest directly in equity securities or in other ETFs, which may include other ETFs managed by the Adviser, Twin Oak ETF Company (the Adviser or Twin Oak), that primarily invest in equity securities. The Fund may also invest in derivatives, including options, swaps, futures, forwards and structured notes, to achieve the desired equities exposure. The Fund uses both a bottom-up approach to selecting investments, focusing on the analysis of individual securities as well as a top-down approach to manage the overall portfolio characteristics and risks.

The bottom-up research approach for equity positions will be driven by the Advisers fundamental research on individual securities or asset classes, and comprises looking at individual investment opportunities to assess their risk-reward framework and contribution to the overall portfolio. The top-down approach focuses on overall macro conditions and market environments. Bottom-up exposures will then be assessed relative to top-down characteristics, resulting in the Funds overall portfolio positioning. In managing the Fund, the Adviser may also seek to implement a hedging strategy utilizing option contracts, swaps, structured notes, futures, and forwards. The hedging strategies will be deployed at the discretion of the portfolio manager and may be used to hedge specific portfolio exposures through the use of derivatives such as puts, calls, or collars on specific securities, or more macro exposures, such as, though not limited to, overall market risk or volatility.

Macro hedges may include, though are not limited to, hedges on indices or ETFs that track certain exposures to give the portfolio more defensive characteristics or the potential to reduce the overall market risk in the portfolio. Certain types of derivatives have a leverage-like effect on the portfolio, in that they require a relatively small premium or margin payment in relation to the size of the investment exposure the Fund acquires. The Funds total return may be reduced relative to a portfolio consisting solely of equity securities in rising markets and may be enhanced relative to the same portfolio in flat or declining markets. In addition to the hedging strategy, the Adviser may also invest its assets in cash and cash equivalents, or money market instruments for temporary defensive purposes in response to adverse market, economic or political conditions and to retain flexibility in paying expenses, which may result in the Fund not achieving its investment objective.

During such periods, the Fund may invest in an affiliated ETF, the Twin Oak Short Horizon Absolute Return ETF (Short Horizon ETF), for any purpose. The Short Horizon ETF is actively managed by Twin Oak and seeks to provide capital appreciation with low price volatility. The Adviser has engaged Exchange Traded Concepts, LLC (ETC or the Sub-Adviser) as sub-adviser to provide trading services as well as proxy voting and other non-portfolio management services to the Fund. The Fund is non-diversified for purposes of the Investment Company Act of 1940, as amended, (the 1940 Act), which means that the Fund may invest in fewer securities at any one time than a diversified fund. The Fund may not invest more than 15% of its net assets in illiquid investments. The Fund is required to comply with Rule 18f-4 under the 1940 Act and has adopted and implemented written policies and procedures reasonably designed to manage the Funds derivatives risk and ensure compliance with Rule 18f-4.

The Fund is not subject to the full requirements of Rule 18f-4 since it is a limited derivatives user as defined in Rule 18f-4, and the Fund maintains a maximum derivatives exposure of 10% of its net assets. The Fund intends to elect to be, and intends to qualify each year for treatment as, a regulated investment company (RIC) under Subchapter M of Subtitle A, Chapter 1, of the Internal Revenue Code of 1986, as amended (the Code).

TPEX Costs and Fees

TPEX costs about $76 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.76%
• Gross expense ratio: 0.76%

TPEX Debt Constituents

No individual debt constituents are reported in Twin Oak Apex Opportunities ETF's latest SEC N-PORT filing.

TPEX Prospectus and SEC Filings

Official Twin Oak Apex Opportunities ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-06-10

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.