Risk factors

The Trust's risks are dominated by Dogecoin price volatility, unlimited token supply, security threats like spot market hacks, and regulatory uncertainty regarding securities classification.

Integration of Outbrain and Legacy Teads consumes management attention and resources.

Telos added specific risks around January 2025 tariffs on IT hardware and fourth quarter 2025 restructuring actions.

Trustco Bank added risks regarding digital deposit competition, fraud, privacy rules, and activist shareholder pressure. Tax and residential mortgage portfolio concentration risks were updated.

Townsquare Media updated political advertising revenue figures comparing 2025 and 2024 results, dropping redundant third-party tech and ratings risks.

Universal Logistics Holdings restated financial statements for September 27, 2025 due to a goodwill error. The company recorded $124.4 million in impairment charges, eliminating all goodwill in its intermodal reporting unit. Management identified a material weakness in internal controls over financial reporting.

Geographic mismatch between foreign net sales and U.S. expenses drives an elevated effective tax rate.

Oil and gas production activity drives water volumes and demand across WBI’s Delaware, Eagle Ford and Arkoma Basin operations.

New risks highlight threats from tariffs, government shutdowns, and surety bond shortages in the OCS.

WW International recently emerged from Chapter 11 bankruptcy, discharging debt and reconstituting its Board and leadership.

Zenas BioPharma faces a going concern doubt after reporting recurring operating losses through December 31, 2025., The company secured up to a $250.0 million term loan agreement with Pharmakon funds in March 2026, which requires significant cash servicing., A securities class action lawsuit was filed in April 2025 against the company, its directors, and IPO underwriters.

Abacus Global Management expanded its risk disclosures around negative industry perception, acquisition liabilities, key personnel, and macroeconomic volatility. Debt figures and third-party dependencies were updated alongside regulatory and litigation challenges.