Teucrium 2x Long Daily XRP ETF SEC Filings

Listed Funds Trust has a Schedule 13G/A disclosure showing MONEY CONCEPTS CAPITAL CORP beneficially owns 1,221,775 shares of the issuer's exchange traded product, representing 3.8% of the class. The filer reports sole dispositive power over the shares and no voting power, and certifies the holdings are held in the ordinary course of business and not to influence control of the issuer.

The Cboe BZX Exchange filed a Form 25 to remove from listing and registration ten TrueShares Structured Outcome ETFs managed by Listed Funds Trust: TrueShares Structured Outcome (January) ETF (JANZ), (February) (FEBZ), (March) (MARZ), (April) (APRZ), (May) (MAYZ), (June) (JUNZ), (September) (SEPZ), (October) (OCTZ), (November) (NOVZ) and (December) (DECZ). The filing states the Exchange and the Issuer have complied with the requirements of 17 CFR 240.12d2-2(b) and 17 CFR 240.12d2-2(c) governing withdrawal of the securities from listing and registration. The form is signed by Sarah Tadtman, Assistant General Counsel, and includes the issuer contact at Listed Funds Trust in Milwaukee with a telephone number.

This filing is an annual Form N-CEN submission template for registered investment companies identified as Teucrium 2x Long Daily XRP ETF (symbol XXRP) with most form fields left blank. The document contains limited populated numeric disclosures for brokerage and principal trading activity across multiple series: one series shows aggregate brokerage commissions of $20,328, another series reports aggregate brokerage commissions of $18,927, a third series reports aggregate brokerage commissions of $11,481, and one series reports aggregate principal transaction activity of $117,720. Several broker-level gross commission amounts are provided (for example, $4,314; $11,969; $2,644; $2,564; $8,917; $2,564) but counterparty names and many required registrant details (CIK, LEI, fund names, addresses, officers, advisers, custodians, asset amounts and other substantive data) are not present in the content supplied.

The available numbers indicate the funds incurred modest brokerage costs and one series engaged in principal trading totaling $117,720 during the reporting period, but the submission lacks the contextual and identifying information needed to assess operational, governance or financial implications.

Alexis Practical Tactical ETF (LEXI) – FY ended 31 May 2025

• Assets & flows: net assets rose 37% YoY to $113.2 m; creations of $30.5 m minus $7.3 m redemptions produced $23.2 m net inflow and 760k new shares.
• Performance: 1-yr total return +10.72% (NAV), trailing blended benchmark (+11.29%) and S&P 500 (+13.52%). Since inception (30 Jun 21) CAGR 7.02% vs S&P 500 10.13%.
• Cost profile: unitary advisory fee 0.85%; expense ratio unchanged at 0.85%; cost to hold $10k for the year was $90 (0.85%).
• Income & distribution: dividend income $1.23 m and interest $0.49 m drove net investment income of $0.89 m (0.92% of avg. assets). Distributions totalled $0.66/sh (0.31 NII, 0.35 cap-gain).
• Portfolio: 83.1% ETFs, 11.5% individual stocks, 2.7% T-Bills, 2.7% cash/MM; 37 holdings; turnover 43% (up from 36%). Top ETF weights include SPDR sector funds, QQQ, Vanguard factor ETFs; largest single equity exposure in mega-cap tech (AAPL, MSFT, NVDA).
• Risk & positioning: Manager describes stance as “neutral-leaning bullish” after trimming equities post-rebound; remains flexible for pullbacks.
• Governance & audit: Cohen & Company re-appointed; audit fee $15,050 (+4.9% YoY). Board confirms advisory contract; advisor pays most operating expenses.

Bottom line: LEXI delivered solid absolute gains and strong asset growth but continued to lag broad equity benchmarks, highlighting the challenge of its tactical, multi-asset mandate.

Listed Funds Trust filed its FY-2025 Form N-CSR for two Shariah-compliant ETFs: Wahed Dow Jones Islamic World ETF (UMMA) and Wahed FTSE USA Shariah ETF (HLAL), covering 1 Jun 2024 – 31 May 2025.

Assets & costs: UMMA net assets rose to $131.5 m (+43% YoY); HLAL reached $596.8 m (+32% YoY). Net advisory fees were $0.74 m (0.65% ER) and $2.72 m (0.50% ER), translating to yearly investor costs of $67 and $51 per $10k invested.

Performance: UMMA delivered a 1-yr NAV return of 6.14% (since inception 1.83%), trailing its MSCI ACWI ex-USA benchmark (13.75%). HLAL returned 5.91% (5-yr 15.45%), lagging the S&P 500 TR (13.52%) but roughly in line over 5 years. Both funds maintained low turnover (15% / 10%), supporting tax efficiency.

Portfolio snapshot: UMMA holds 96 stocks, tech-heavy (33%) with TSMC (11.4%) its largest position; non-US semiconductors and pharma dominate. HLAL owns 208 U.S. names; technology is 56% of assets with Microsoft (15.3%) and Apple (13.2%) topping the list. Concentration risk is notable, but both portfolios remain fully Shariah-screened.

Income & payout: Dividend income totaled $2.24 m (UMMA) and $6.36 m (HLAL). Distributions of $0.21 and $0.35 per share were paid from earnings.

Audit & governance: Cohen & Co billed $33.3k in audit fees; no non-audit services were provided. The board identified John Jacobs as an independent audit-committee financial expert and affirmed adherence to the existing Code of Ethics.

Key takeaways: AUM growth and disciplined expenses support the investment case, but recent returns lag broad benchmarks, largely due to heavy sector tilts and global trade uncertainty. Investors should weigh faith-based mandate benefits against benchmark underperformance and tech concentration.