2026-06-24210021_ArcherGrowthETF_TF

Ordinary Income

Per Share Amount

Archer Growth ETF

Archer Investment Series Trust
(Exact name of registrant as specified in charter)


	Archer Growth ETF
	ARWG (Principal U.S. Listing Exchange: CBOE)
	Annual Shareholder Report \| August 31, 2026

This annual shareholder report contains important information about the Archer Growth ETF for the period of December 29, 2025, to August 31, 2026. You can find additional information about the Fund at https://www.thearcherfunds.com/. You can also request this information by contacting us at 1-317-581-5664.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)


Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^,*
Archer Growth ETF	$58	0.85%

*	Amount shown reflects the expenses of the Fund from inception date through August 31, 2026. Expenses would be higher if the Fund had been in operation for the entire period of this report.

**	Annualized

WHAT FACTORS INFLUENCED PERFORMANCE

During the period ended August 31, 2026, the Archer Growth ETF (ARWG) pursued its investment objective of long-term capital appreciation through a disciplined strategy emphasizing companies experiencing positive earnings estimate revisions and favorable price momentum. The Fund’s investment approach sought to identify companies with improving earnings expectations across various market capitalizations and industries. Market conditions during the period provided opportunities for the Fund to invest in companies demonstrating improving fundamentals and positive technical characteristics, while fluctuations in individual securities and sectors influenced overall performance. The Fund maintained its systematic investment discipline, adjusting portfolio holdings as earnings expectations and market trends evolved. Management believes that focusing on improving earnings expectations and positive price momentum remains a sound approach to identifying potential long-term growth opportunities.


Top Contributors
↑	US Duration Position, US IG Credit


Top Detractors
↓	Non-US Sovereign Debt, Agency Mortgages, Structured Products

HOW DID THE FUND PERFORM SINCE INCEPTION?*

The $10,000 chart reflects a hypothetical $10,000 investment in the class of shares noted and assumes the maximum sales charge. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted.

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

(a) As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

(b) For purposes of this item, “code of ethics” means written standards that are reasonably designed to deter wrongdoing and to promote:

(1) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

(2) Full, fair, accurate, timely, and understandable disclosure in reports and documents that a registrant files with, or submits to, the Commission and in other public communications made by the registrant;

(4) The prompt internal reporting of violations of the code to an appropriate person or persons identified in the code; and

(c) Amendments: During the period covered by the report, there have not been any amendments to the provisions of the code of ethics.

(d) Waivers: During the period covered by the report, the registrant has not granted any express or implicit waivers from the provisions of the code of ethics.

(a) The registrant’s Board of Trustees has determined that it does not have an audit committee financial expert serving on its audit committee. At this time, the registrant believes that the experience provided by each member of the audit committee together offer the registrant adequate oversight for the registrant’s level of financial complexity.

Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.

THE ARCHER FUNDS

ARCHER GROWTH ETF (ARWG)

Annual Financial Statements and

Additional Information

August 31, 2026

TABLE OF CONTENTS


			Page
Schedule of Investments			1
Statement of Assets and Liabilities			3
Statement of Operations			4
Statement of Changes in Net Assets			5
Financial Highlights			6
Notes to Financial Statements			7
Report of Independent Registered Public Accounting Firm			12
Board of Trustee’s Approval of Advisory Agreement			13
Additional Information			16

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ARCHER GROWTH ETF

SCHEDULE OF INVESTMENTS

August 31, 2026


	Shares	Value
COMMON STOCKS - 98.6%
Aerospace & Defense - 4.6%
HEICO Corp.	1,026	$339,760
Howmet Aerospace, Inc.	1,351	330,927
		670,687
Banking - 2.4%
Peoples Bancorp, Inc.	8,856	348,661
Biotech & Pharmaceutical - 2.4%
UroGen Pharma Ltd.^(a)	8,293	357,345
Electrical Equipment - 11.7%
Advanced Energy Industries, Inc.	1,084	300,116
Amphenol Corp. - Class A	2,085	330,577
Bloom Energy Corp. - Class A^(a)	1,605	331,112
Cognex Corp.	5,995	365,455
nVent Electric PLC	2,664	401,598
		1,728,858
Engineering & Construction - 4.6%
EMCOR Group, Inc.	487	357,721
Quanta Services, Inc.	526	319,329
		677,050
Entertainment Content - 2.6%
Roku, Inc.^(a)	2,460	386,048
Health Care Facilities & Services - 5.1%
Centene Corp.^(a)	5,839	375,681
Tenet Healthcare Corp.^(a)	1,417	376,795
		752,476
Industrial Support Services - 2.4%
MSC Industrial Direct Co., Inc. - Class A	3,005	357,234
Institutional Financial Services - 5.2%
Bank of New York Mellon Corp.	2,368	381,911
State Street Corp.	1,998	382,377
		764,288
Insurance - 2.3%
Travelers Cos., Inc.	943	345,072
Leisure Facilities & Services - 2.6%
Cheesecake Factory, Inc.	3,506	383,872
Leisure Products - 2.3%
Polaris, Inc.	5,210	336,253
Medical Equipment & Devices - 2.6%
Inspire Medical Systems, Inc.^(a)	6,092	383,735
Oil & Gas Producers - 2.7%
Phillips 66	1,628	401,432
Retail - Consumer Staples - 2.5%
Dollar Tree, Inc.^(a)	2,892	366,098


	Shares	Value
Retail - Discretionary - 4.8%
CarMax, Inc.^(a)	5,881	$360,682
Kohl’s Corp.	19,285	343,659
		704,341
Semiconductors - 11.1%
Coherent Corp.^(a)	1,278	355,067
FormFactor, Inc.^(a)	2,878	289,556
Lam Research Corp.	1,147	345,809
Monolithic Power Systems, Inc.	251	318,210
Teradyne, Inc.	921	322,193
		1,630,835
Software - 13.5%
Appian Corp. - Class A^(a)	9,119	391,661
Fastly, Inc. - Class A^(a)	12,628	287,792
Gitlab, Inc. - Class A^(a)	11,359	528,648
Paycom Software, Inc.	1,593	380,886
Samsara, Inc. - Class A^(a)	9,998	408,419
		1,997,406
Specialty Finance - 2.6%
Chime Financial, Inc. - Class A^(a)	11,780	390,036
Steel - 2.2%
Reliance, Inc.	855	328,363
Technology Hardware - 5.6%
Arista Networks, Inc.^(a)	2,215	433,453
Zebra Technologies Corp. - Class A^(a)	1,129	399,158
		832,611
Transportation & Logistics - 2.8%
Expeditors International of Washington, Inc.	2,181	413,627
TOTAL COMMON STOCKS (Cost $14,635,648)		14,556,328
SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 1.4%
First American Government Obligations Fund - Class X, 3.59%^(b)	200,474	200,474
TOTAL MONEY MARKET FUNDS (Cost $200,474)		200,474
TOTAL INVESTMENTS - 100.0% (Cost $14,836,122)		$14,756,802
Liabilities in Excess of Other Assets - (0.0)%^(c)		(2,324)
TOTAL NET ASSETS - 100.0%		$14,754,478

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

PLC - Public Limited Company

(a)	Non-income producing security.

(b)	The rate shown represents the 7-day annualized yield as of August 31, 2026.

(c)	Represents less than 0.05% of net assets.

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF

SCHEDULE OF INVESTMENTS

August 31, 2026(Continued)

Summary of Fair Value Disclosure as of August 31, 2026

Archer Growth ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 –

Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 –

Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 –

Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of August 31, 2026:


	Level 1	Level 2	Level 3	Total
Investments:
Common Stocks	$14,556,328	$—	$—	$14,556,328
Money Market Funds	200,474	—	—	200,474
Total Investments	$14,756,802	$—	$—	$14,756,802

Refer to the Schedule of Investments for further disaggregation of investment categories.

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF

Statement of Assets and Liabilities

August 31, 2026


ASSETS:
Investments, at value			$ 14,756,802
Dividends receivable			8,209
Total assets			14,765,011
LIABILITIES:
Payable to Adviser			10,533
Total liabilities			10,533
NET ASSETS			$ 14,754,478
Net Assets Consist of:
Paid-in capital			$15,443,410
Total accumulated deficit			(688,932)
Total net assets			$ 14,754,478
Net assets			$ 14,754,478
Shares issued and outstanding (unlimited shares authorized without par value)			570,000
Net asset value per share			$25.89
Cost:
Investments, at cost			$ 14,836,122

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF^(a)

Statement of Operations

For the Period Ended August 31, 2026


INVESTMENT INCOME:
Dividend income			$85,897
Less: Issuance fees			(238 )
Less: Dividend withholding taxes			(1,087 )
Total investment income			84,572
EXPENSES:
Investment advisory fee			64,833
Income tax expense			42
Total expenses			64,875
NET INVESTMENT INCOME			19,697
REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments			681,027
Net realized gain (loss)			681,027
Net change in unrealized appreciation (depreciation) on:
Investments			(79,320 )
Net change in unrealized appreciation (depreciation)			(79,320 )
Net realized and unrealized gain (loss)			601,707
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$ 621,404

(a)	Inception date of the Fund was December 29, 2025.

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF

STATEMENT OF CHANGES IN NET ASSETS

Period Ended August 31, 2026^(a)


OPERATIONS:
Net investment income (loss)			$19,697
Net realized gain (loss)			681,027
Net change in unrealized appreciation (depreciation)			(79,320)
Net increase (decrease) in net assets from operations			621,404
DISTRIBUTIONS TO SHAREHOLDERS:
From earnings			(16,200)
Total distributions to shareholders			(16,200)
CAPITAL TRANSACTIONS:
Shares sold			22,319,177
Shares redeemed			(8,169,903)
Net increase (decrease) in net assets from capital transactions			14,149,274
NET INCREASE (DECREASE) IN NET ASSETS			14,754,478
NET ASSETS:
Beginning of the period			—
End of the period			$ 14,754,478
SHARES TRANSACTIONS
Shares sold			900,000
Shares redeemed			(330,000)
Total increase (decrease) in shares outstanding			570,000

(a)	Inception date of the Fund was December 29, 2025.

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF

Financial Highlights

August 31, 2026


			Period Ended August 31, 2026^(a)
PER SHARE DATA:
Net asset value, beginning of period			$24.83
INVESTMENT OPERATIONS:
Net investment income^(b)			0.04
Net realized and unrealized gain (loss) on investments^(c)			1.05
Total from investment operations			1.09
LESS DISTRIBUTIONS FROM:
Net investment income			(0.03)
Total distributions			(0.03)
Net asset value, end of period			$25.89
TOTAL RETURN^(d)			4.40%
SUPPLEMENTAL DATA AND RATIOS:
Net assets, end of period (in thousands)			$14,754
Ratio of expenses to average net assets^(e)			0.85%
Ratio of tax expense to average net assets^(e)			0.00%^(f)
Ratio of expenses to average net assets excluding tax expense^(e)			0.85%
Ratio of net investment income (loss) to average net assets^(e)			0.26%
Portfolio turnover rate^(d)(g)			950%

(a)	Inception date of the Fund was December 29, 2025.

(b)	Net investment income per share has been calculated based on average shares outstanding during the period.

(c)	Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the period and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the period.

(d)	Not annualized for periods less than one year.

(e)	Annualized for periods less than one year.

(f)	Amount represents less than 0.005%.

(g)	Portfolio turnover rate excludes in-kind transactions.

The accompanying notes are an integral part of these financial statements.

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ARCHER GROWTH ETF

NOTES TO FINANCIAL STATEMENTS

August 31, 2026

NOTE 1 – ORGANIZATION

Archer Growth ETF (the “Fund”) is registered under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end non-diversified series of The Archer Investment Series Trust (the “Trust”). The Trust, an Ohio business trust, is an open-end investment management company established under the laws of Ohio by an Agreement and Declaration of Trust dated October 7, 2009 (the “Trust Agreement”). The Trust Agreement permits the Board of Trustees (the “Board”) to issue an unlimited number of shares of beneficial interest of separate series. The Fund is one of a series of funds authorized by the Board. The other six Funds in the Series are reported in a separate filing. The Fund commenced operations on December 29, 2025. The Fund is an exchange traded fund (“ETF”) which seeks long-term total returns while minimizing capital loss. The Fund’s investment adviser is Archer Investment Corporation, Inc. (the “Advisor”). See Note 4 for additional information regarding the Advisor.

The Fund lists and principally trades its shares on the Cboe BZX Exchange, Inc. (“Cboe”) (the “Exchange”). Shares of the Fund trade on the Exchange at market prices that may be below, at, or above the Fund’s net asset value (“NAV”). The Fund will issue and redeem shares on a continuous basis at NAV only in creation units.

Creation Units will be issued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally will trade in the secondary market at market prices that change throughout the day in quantities less than a Creation Unit. Except when aggregated in Creation Units, shares are not redeemable securities of a Fund. Shares of a Fund may only be purchased or redeemed by certain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a DTC participant and, in each case, must have executed an Authorized Participant Agreement with Arbor Court Capital, LLC (“the Distributor”). Most retail investors will not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units. Therefore, they will be unable to purchase or redeem the shares directly from the Funds. Rather, most retail investors will purchase shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees.

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements. The Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.

Securities Valuation – All investments in securities are recorded at their estimated fair value as described in Note 3.

Federal Income Taxes – Recently adopted accounting pronouncements - In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09 (“ASU2023-09”) Improvements to Income Tax Disclosures, which enhances income tax disclosures, including providing specific categories in the rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024; early adoption is permitted. The Fund makes no provision for federal income or excise tax. The Fund intends to qualify each year as “regulated investment company” (“RIC”) under subchapter M of the Internal Revenue Code of 1986, as amended, by complying with the requirements applicable to RICs and by distributing substantially all of their taxable income. The Fund also intends to distribute sufficient net investment income and net capital gains, if any, so that it will not be subject to excise tax on undistributed income and gains. If the required amount of net investment income or gains is not distributed, the Fund could incur a tax expense. Therefore, no federal income tax or excise provision is required. The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management of the Fund has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the last three tax year ends and the interim tax period since then, as applicable). Management believes that there is no tax liability resulting from unrecognized tax benefits related to uncertain tax positions taken. The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the period December 29, 2025 (inception date) through August 31, 2026 the Fund did not incur any interest or penalties.

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ARCHER GROWTH ETF

NOTES TO FINANCIAL STATEMENTS

August 31, 2026(Continued)

Security Transactions and Related Income – The Fund follows industry practice and records security transactions on the trade date. Realized gains and losses are computed using the specific cost of the security. Dividend income is recorded on the ex-dividend date and interest income is recorded on an accrual basis. Discounts and premiums on securities purchased are accreted or amortized using the amortization method. Withholding taxes on foreign dividends have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received from certain investments held by the Fund may be comprised of dividends, realized gains and returns of capital. The amounts may subsequently be reclassified upon receipt of information from the issuer.

Dividends and Distributions – The Fund typically will distribute substantially all of its net investment income in the form of dividends and capital gains to its shareholders. Quarterly distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. The treatment for financial reporting purposes of distributions made to shareholders during the year from net investment income or net realized capital gains may differ from their ultimate treatment for federal income tax purposes. These differences are caused primarily by differences in the timing of the recognition of certain components of income, expenses or realized capital gain for federal income tax purposes. Where such differences are permanent in nature, they are reclassified in the components of the net assets based on their ultimate characterization for federal income tax purposes. Any such reclassifications will have no effect on net assets, results of operations or net asset values per share of the Fund.

Use of Estimates – The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from these estimates.

Share Valuation – The net asset value (“NAV”) per share of the Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The offering and redemption price per share for the Fund is equal to the Fund’s NAV per share.

Reclassification of Capital Accounts – U.S. GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share.

These differences are primarily due to differing book and tax treatments for in-kind transactions. For the fiscal period ended August 31, 2026, the following table shows the reclassifications made:


Distributable Earnings (Accumulated Losses)			Paid-In Capital
$(1,294,136)			$ 1,294,136

NOTE 3 – SECURITIES VALUATION

The Fund’s Board of Trustees has adopted guidelines for valuing securities including in circumstances in which market quotes are not readily available and has delegated to the Adviser the responsibility for determining fair value prices, subject to review by the Board of Trustees.

In accordance with the Trust’s good faith pricing guidelines, the Advisor is required to consider all appropriate factors relevant to the value of securities for which it has determined other pricing sources are not available or reliable. No single standard exists for determining fair value, because fair value depends upon the circumstances of each individual case. As a general principle, the current fair value of an issue of securities being valued by the Advisor would appear to be the amount which the owner might reasonably expect to receive for them upon their current sale. Methods which are in accordance with this principle may, for example, be based on (i) a multiple of earnings; (ii) a discount from market of a similar freely traded security (including a derivative security or a basket of securities traded on other markets, exchanges or among dealers); or (iii) yield to maturity with respect to debt issues, or a combination of these and other methods. Good faith pricing is permitted if, in the Advisor’s opinion, the validity of market quotations appears to be questionable based on factors such as evidence of a thin market in the security based on a small number of quotations,

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ARCHER GROWTH ETF

NOTES TO FINANCIAL STATEMENTS

August 31, 2026(Continued)

a significant event occurs after the close of a market but before the Fund’s NAV calculation that may affect a security’s value, or the Advisor is aware of any other data that calls into question the reliability of market quotations. Good faith pricing may also be used in instances when the bonds the Fund invest in may default or otherwise cease to have market quotations readily available.

The Fund utilizes various methods to measure the fair value of most of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows:

Level 1 –

Unadjusted quoted prices in active markets for identical assets or liabilities that the company has the ability to access.

Level 2 –

Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3 –

Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the company’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

A description of the valuation techniques applied to each Fund’s major categories of assets and liabilities measured at fair value on a recurring basis follows:

Equity securities (common stocks). Securities traded on a national securities exchange (or reported on the NASDAQ national market) are stated at the last reported sales price on the day of valuation. To the extent these securities are actively traded, and valuation adjustments are not applied, they are categorized in level 1 of the fair value hierarchy. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, Exchange Traded Funds, and the movement of the certain indexes of securities based on a statistical analysis of the historical relationship and that are categorized in level 2. Preferred stock and other equities traded on inactive markets or valued by reference to similar instruments are also categorized in level 2.

Investments in open-end mutual funds including money market funds are valued at their closing net asset value each business day and are classified in Level 1 of the fair value hierarchy.

The following table summarizes the inputs used to value Archer Growth ETF’s assets measured at fair value as of August 31, 2026:


	Level 1	Level 2	Level 3	Total
Investments:
Common Stocks	$ 14,556,328	$—	$—	$ 14,556,328
Money Market Funds	200,474	—	—	200,474
Total Investments	$14,756,802	$—	$—	$ 14,756,802

Refer to the Schedule of Investments for further disaggregation of investment categories.

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ARCHER GROWTH ETF

NOTES TO FINANCIAL STATEMENTS

August 31, 2026(Continued)

The Fund did not hold any Level 3 assets during the period of December 29, 2025 through August 31, 2026; therefore, a reconciliation of assets in which significant unobservable inputs were used in determining fair value is not applicable. There were no significant transfers into or out of Level 1 or Level 2 during the period. It is the Fund’s policy to recognize transfers into and out of Level 1 and Level 2 at the end of the reporting period.

NOTE 4 – FEES AND OTHER TRANSACTIONS WITH AFFILIATES

The Adviser serves as the investment adviser to the Fund. The Board approved the investment advisory agreement between the Trust, on behalf of the Fund, and the Adviser, at a meeting held on November 21, 2025. Pursuant to an investment advisory agreement (“Investment Advisory Agreement”) between the Trust, on behalf of the Fund, and the Adviser, the Adviser provides investment management services to the Fund and oversees the day-to-day operations of the Fund, subject to the supervision of the Board and the officers of the Trust. Pursuant to the Investment Advisory Agreement, the Fund pays the Adviser a monthly unitary management fee at an annual rate of 0.85% based on the Fund’s average daily net assets for services provided to the Fund. The Fund incurred management fees under this agreement of $64,833 during the period ended August 31, 2026 which are recognized within the Statement of Operations. Of the fees incurred during the period, the Fund has a payable amount of $10,533 due to the Adviser as of August 31, 2026 which is included in the Statement of Assets and Liabilities. The Adviser bears the costs of all the operating expenses of the Fund, excluding interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1), if any, fees and expenses.

The Board approved a Sub-Advisory Agreement between the Adviser and Tidal Investment, LLC (“TI”) to serve as the Sub-Adviser to the Fund at a meeting held on November 21, 2025. The Sub-Adviser has responsibility for selecting and continuously monitoring the Fund’s investments. Sub-Advisory fees earned by TI are paid by the Adviser.

NOTE 5 – SEGMENT REPORTING

Archer Growth ETF is deemed to be an individual reporting segment and is not part of a consolidated reporting entity. The objective and strategy of the Fund is used by the investment manager to make investment decisions, and the results of the operations, as shown in the statement of operations and the financial highlights for the Fund is the information utilized for the day-to-day management of the Fund. Due to the significance of oversight and their role, the respective Adviser, Troy Patton, is deemed to be the Chief Operating Decision Maker.

NOTE 6 – INVESTMENT TRANSACTIONS

During the period ended August 31, 2026, purchases and sales of securities by the Fund, excluding short-term securities and in-kind transactions, were $106,854,691 and $106,227,460, respectively.

During the period ended August 31, 2026, in-kind transactions associated with creations and redemptions were $21,562,809 and $8,235,258, respectively.

During the period ended August 31, 2026, there were no purchases and sales of long-term U.S. government securities.

NOTE 7 – BENEFICIAL OWNERSHIP

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the Investment Company Act of 1940 as amended. As of August 31, 2026, no shareholder beneficially owned, either directly or indirectly, more than 25% of the outstanding voting securities of the Fund. Accordingly, no shareholder was deemed to control the Fund as of August 31, 2026.

NOTE 8 – TAX MATTERS

The tax character of distributions paid by the Fund during the period ended August 31, 2026 were as follows:


Ordinary Income			Long-Term Capital Gain
$16,200			$ —

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ARCHER GROWTH ETF

NOTES TO FINANCIAL STATEMENTS

August 31, 2026(Continued)

Under current tax law, net capital losses realized after October 31st and net ordinary losses incurred after December 31st may be deferred and treated as occurring on the first day of the following fiscal year. For the taxable period ended August 31, 2026, the Fund did not elect to defer any post-October 31 capital losses.

As of August 31, 2026, the Fund had the following capital loss carryforwards:


Short-Term	Long-Term	Total	Expiration
$492,873	$ —	$ 492,873	Indefinite

The components of tax basis cost of investments and net unrealized appreciation for federal income tax purposes as of August 31, 2026, were as follows:


Tax cost of investments			$14,956,358
Gross tax unrealized appreciation			487,299
Gross tax unrealized depreciation			(686,855)
Net tax unrealized appreciation (depreciation)			(199,556)
Undistributed ordinary income			3,497
Undistributed long-term capital gains			—
Distributable earnings			—
Other accumulated gain (loss)			(492,873)
Total distributable earnings (accumulated deficit)			$(688,932)

The difference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in and wash sales.

NOTE 9 – INDEMNIFICATIONS

In the normal course of business, the Fund enters into contracts that contain general indemnification to other parties. The Fund’s maximum exposure under these contracts is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. The Fund expects the risk of loss to be remote.

NOTE 10 – MARKET RISKS

Overall market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions and depressions, or other events could have a significant impact on the Fund and its investments and could result in increased premiums or discounts to the Fund’s net asset value, and may impair market liquidity, thereby increasing liquidity risk. The Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates can have the same impact on all types of securities and instruments.

NOTE 11 – SUBSEQUENT EVENTS

On September 22, 2026, the following Fund declared distributions from ordinary income to shareholders of record as of September 23, 2026:

Management has evaluated the impact of all subsequent events through the date the financial statements were available to be issued and has determined that there were no other subsequent events requiring disclosure in the financial statements for the Fund.

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ARCHER GROWTH ETF

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of

Archer Growth ETF, a Series of the Archer Investment Series Trust

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of the Archer Growth ETF (the “Fund”), a series of the Archer Investment Series Trust (the “Trust”), including the schedule of investments, as of August 31, 2026, the related statement of operations and statement of changes in net assets for the period December 29, 2025 (commencement of investment operations) through August 31, 2026, and the related notes (collectively referred to as the “financial statements”) and the financial highlights for the period December 29, 2025 (commencement of investment operations) through August 31, 2026 for the Fund.

In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of August 31, 2026, the results of its operations, the changes in its net assets, and the financial highlights for the period December 29, 2025 (commencement of investment operations) through August 31, 2026, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our procedures included confirmation of securities owned as of August 31, 2026, by correspondence with the custodian. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audit provides a reasonable basis for our opinion.

We have served as the auditor of one or more investment companies in the

Archer Investment Series Trust since 2011

Flower Mound, Texas

October 29, 2026

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ARCHER GROWTH ETF

BOARD OF TRUSTEE’S APPROVAL OF ADVISORY AGREEMENT

August 31, 2026

ARCHER INVESTMENT SERIES TRUST –BOARD CONSIDERATIONS IN APPROVING THE

INVESTMENT ADVISORY AGREEMENT FOR THE ARCHER GROWTH ETF

The approval of the investment advisory agreement pertains only to the Archer Growth ETF. The approval of the investment advisory agreement for the Archer Balanced Fund, the Archer Income Fund, the Archer Stock Fund, the Archer Growth Dividend Fund, the Archer Focus Fund and the Archer Multi-cap Fund.

The Board of Trustees (the “Board”) of the Archer Investment Series Trust (the “Trust”), including the Trustees thereof who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (the “Independent Trustees”), held a meeting on November 21, 2025 (the “Meeting”) for the purpose of, among other things, the consideration of, and voting on, the proposed approval of the investment advisory agreement (the “Investment Advisory Agreement”) between the Trust and Archer Investment Corporation (the “Adviser” or “AIC”), and the proposed approval of the sub-advisory agreement (the “Sub-advisory Agreement”) between the Archer Investment Corporation and Tidal Investment, LLC (“TI”) relating to the Archer Growth ETF (the “Fund”). The Board reflected on its discussions with the representatives from AIC and TI earlier in the Meeting regarding the manner in which the Archer Growth ETF is to be managed and the roles and responsibilities of AIC under the AIC Investment Advisory Agreement.

The Trustees reviewed a memorandum from Trust Counsel (“Trust Counsel”) that addressed the Trustees’ duties when considering the approval of the AIC Investment Advisory Agreement and the TI Sub-advisory Agreement, and the response of AIC and TI to requests for information from Trust Counsel on behalf of the Board. Trust Counsel noted that the responses included information on the personnel of and services to be provided by AIC and TI, an expense comparison analysis for the Archer Growth ETF and comparable ETFs, and the AIC Investment Advisory Agreement. He discussed the types of information and factors that should be considered by the Board in order to make an informed decision regarding the approval of the AIC Investment Advisory Agreement, including the following material factors: (i) the nature, extent, and quality of the services to be provided by AIC and TI; (ii) the investment performance of AIC; (iii) the costs of the services to be provided and profits to be realized by AIC from the relationship with the Archer Growth ETF; (iv) the extent to which economies of scale would be realized if the Archer Growth ETF grows and whether advisory fee levels reflect those economies of scale for the benefit of its investors; and (v) possible conflicts of interest and other benefits.

In assessing these factors and reaching its decisions, the Board took into consideration information specifically prepared or presented at this Meeting. The Board requested or was provided with information and reports relevant to the approval of the AIC Investment Advisory Agreement and the TI Sub-advisory Agreement, including: (i) information regarding the services and support to be provided by AIC and TI to the Archer Growth ETF and its shareholders; (ii) presentations by management of AIC addressing the investment philosophy, investment strategy, personnel and operations to be utilized in managing the Archer Growth ETF; (iii) information pertaining to the compliance structure of AIC and TI; (iv) disclosure information contained in the Archer Growth ETF’s registration statement and AIC’s Form ADV and/or the policies and procedures of AIC and TI; and (v) the memorandum from Trust Counsel that summarized the fiduciary duties and responsibilities of the Board in reviewing and approving the AIC Investment Advisory Agreement and TI Sub-advisory Agreement, including the material factors set forth above and the types of information included in each factor that should be considered by the Board in order to make an informed decision.

Trust Counsel reminded the Board that it also requested and received various informational materials including, without limitation: (i) documents containing information about AIC, including financial information, personnel and the services to be provided by AIC and TI to the Archer Growth ETF, the firm’s compliance program, current legal matters, and other general information; (ii) projected expenses of the Archer Growth ETF and comparative expense information for other ETFs with strategies similar to the Archer Growth ETF prepared by an independent third party; (iii) the anticipated effect of size on the Archer Growth ETF’s performance and expenses; and (iv) benefits anticipated to be realized by AIC from its relationship with the Archer Growth ETF.

The Board did not identify any particular information that was most relevant to its consideration to approve the

AIC Investment Advisory Agreement, and each Trustee may have afforded different weight to the various factors. In

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ARCHER GROWTH ETF

BOARD OF TRUSTEE’S APPROVAL OF ADVISORY AGREEMENT

August 31, 2026(Continued)

deciding whether to approve the AIC Investment Advisory Agreement, the Trustees considered numerous factors, including:

The nature, extent, and quality of the services to be provided by AIC and TI.

In this regard, the Board considered the responsibilities of AIC under the AIC Investment Advisory Agreement and TI under the TI Sub-advisory Agreement. The Board reviewed the services to be provided by AIC and TI to the Archer Growth ETF, including, without limitation, the processes of AIC and TI for assuring compliance with the Archer Growth ETF’s investment objectives and limitations; AIC’s processes for trade execution and broker-dealer selection for portfolio transactions; the coordination of services by AIC and TI for the Archer Growth ETF among the service providers; and the anticipated efforts of AIC to promote the Archer Growth ETF and grow its assets. The Board considered: the staffing, personnel, and methods of operating AIC; the education and experience of AIC’s personnel; and information provided regarding AIC’s and TI’s compliance program, and policies and procedures. After reviewing the foregoing and further information from AIC and TI, the Board concluded that the quality, extent, and nature of the services to be provided by AIC and TI, was satisfactory and adequate for the Archer Growth ETF.

The investment performance of AIC and Archer Growth ETF.

The Board noted that the Archer Growth ETF had not yet commenced operations and therefore the Archer Growth ETF does not have a performance record.

The costs of services to be provided and profits to be realized by AIC from the relationship with the Archer Growth ETF.

In this regard, the Board considered the financial condition of AIC and TI and the level of commitment to the Archer Growth ETF by AIC. The Board also considered the projected assets and proposed expenses of the Archer Growth ETF, including the nature and frequency of advisory payments. The Trustees noted the information on projected profitability provided by AIC. The Trustees considered the unitary fee structure proposed by AIC. The Board compared the proposed unitary fee of the Archer Growth ETF to the advisory fees and net expense ratios of ETFs from a peer group selected from its Category (“Peer Group”). The Trustees noted that the proposed unitary fee was similar to the median advisory fees of the Peer Group, and that the Fund’s projected net expense ratio was also somewhat higher than median of its Peer Group. The Trustees acknowledged AIC’s representation that the proposed advisory fees are appropriate for an actively managed fund with a unique strategy such as the Archer Growth ETF. The Trustee’s also noted that the Archer Growth ETF is the first opportunity for AIC to act as an investment advisor of any ETF. After further consideration, the Board concluded that the projected profitability and fees to be paid to AIC were within an acceptable range in light of the services to be rendered by AIC.

The extent to which economies of scale would be realized as the Archer Growth ETF grows and whether advisory fee levels reflect these economies of scale for the benefit of the Archer Growth ETF’s investors.

Since this Fund has not commenced operations and the eventual aggregate amount of the Fund’s assets, uncertain, the Adviser was not able to provide the Board with specific information concerning the extent to which economies of scale would be realized as the Fund grows and whether fee levels would reflect such economies of scale, if any. The Board did consider the fact that the Advisor has been the Advisor of the Trust and each of its separate series since the Trust’s inception and that the addition of this Fund would benefit the Advisor and shareholders by this increased economy of scale.

Possible conflicts of interest and other benefits.

In evaluating the possibility for conflicts of interest, the Board considered such matters as: the experience and ability of the AIC personnel assigned to the Archer Growth ETF; the basis of decisions to buy or sell securities for the Archer Growth ETF; and the substance and administration of the Code of Ethics and other relevant policies of AIC. The Board also considered potential benefits for AIC in managing the Archer Growth ETF. Following further consideration and discussion, the Board concluded that the standards and practices of AIC relating to the identification and mitigation of potential conflicts of interest, as well as the benefits to be derived by AIC from managing the Archer Growth ETF were satisfactory.

After additional consideration of the factors delineated in the memorandum provided by Trust Counsel and further discussion and careful review by the Trustees, the Board determined that the compensation payable under the AIC

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ARCHER GROWTH ETF

BOARD OF TRUSTEE’S APPROVAL OF ADVISORY AGREEMENT

August 31, 2026(Continued)

Investment Advisory Agreement and the TI Sub-advisory Agreement was fair, reasonable and within a range of what could have been negotiated at arms-length in light of all the surrounding circumstances, and they approved the AIC Investment Advisory Agreement and the TI Sub-advisory Agreement.

After due consideration of the above-enumerated factors, among others, the Board, including a majority of the Independent Trustees, approved the AIC Investment Advisory Agreement and the TI Sub-advisory Agreement for the Fund for an initial term of two (2) years.

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ARCHER GROWTH ETF

ADDITIONAL INFORMATION

August 31, 2026

Annual Renewal of the Management Services Agreement with Archer Investment Corporation with respect to Archer Growth ETF.

The Board of Trustees of the Archer Investment Series Trust, including the Independent Trustees voting separately, reviewed and approved the continuance of the Funds’ Investment Advisory Agreement (“Advisory Agreement”) with Archer Investment Corporation (the “Advisor”) at a meeting held on November 27, 2025 (the “Meeting”). All the Trustees, including all of the Independent Trustees, were present for the Board’s consideration and approval of these matters.

At the meeting, the Trustees requested and reviewed information provided by the Adviser related to the following: (i) the nature, extent, and quality of the services provided by the Adviser, (ii) the investment performance of the Fund; (iii) the costs of the services provided and the profits realized by the Adviser from its relationship with each individual Archer Fund; (iv) the financial condition of the Adviser; (v) the extent to which economies of scale would be realized as each Fund grows; and (vi) whether fee levels reflect these economies of scale for the benefit of the Fund’s shareholders.

The Independent Trustees received various materials from the Advisor prior to the meeting which they reviewed with their independent legal counsel who discussed their fiduciary duties and responsibilities applicable in reviewing and considering the renewal of each Archer Fund’s Management Services Agreement. The Independent Trustees met with their independent legal counsel in a private session at which no representatives of management were present. Throughout the process, the Trustees had the opportunity to ask questions to both the Advisor and legal counsel, and answers to their questions were considered along with the materials provided.

With respect to the consideration of the nature, extent, and quality of the services provided by the Adviser to the Funds, the Trustees reviewed the background, qualifications, and experience of the Adviser’s investment, operational, and compliance personnel. The Trustees considered the roles of each person as well as their relevant experience in the financial services industry, noting that Mr. Patton had managed the Adviser and the Funds’ assets since their inception and that Mr. Rosebrough had co-managed the Fund during that same period taking into consideration the obligations of the Adviser under the Management Services Agreement and with the Adviser’s compliance program and the Adviser’s role in coordinating such services and programs.

After reviewing the information in the materials provided by the Adviser and the discussion with the Advisor regarding the nature, extent, and quality of the services provided by the Advisor, the Board concluded that the services provided by the Adviser were of high quality, reasonable, and consistent with the Board's expectations and those set forth in the current and proposed Management Services Agreement.

With respect to each Fund’s performance, the Trustees reviewed each Fund’s performance over various time periods. The Trustees compared such performances of managed mutual funds of similar size in each Fund’s stated Morningstar category. The Trustees considered the consistency of the Adviser’s management of the Funds with their respective investment objectives and policies along with the overall performance of each Fund as presented to the Trustees in the materials at this meeting and those which the Trustees reviewed quarterly with the Board throughout the past fiscal year.

NOTE 1 – FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS

Information regarding how often shares of each other Fund traded on the Exchange at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund is available on the Funds’ website at www.thearcherfunds.com.

NOTE 2 – FEDERAL TAX INFORMATION

Qualified Dividend Income/Dividends Received Deduction/Short Term Capital Gains

For the fiscal year ended August 31, 2026, certain dividends paid by the Funds may be subject to a maximum tax rate of 23.5%, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003.

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ARCHER GROWTH ETF

ADDITIONAL INFORMATION

August 31, 2026(Continued)

The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:


Archer Growth ETF			100.00%

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal year ended August 31, 2026, was as follows:


Archer Growth ETF			100.00%

The percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under Internal Revenue Section 871(k)(2)(C) for each fund were as follows:


Archer Growth ETF			0.00%

Capital Loss Carryover


Archer Growth ETF			($492,873)

NOTE 3 – DISCLOSURE OF PORTFOLIO HOLDINGS

The fund files its complete schedule of portfolio holdings for their first and third quarters with the Securities and Exchange Commission (“SEC”) on Part F of Form N-PORT. The Fund’s Part F of Form N-PORT is available without charge, upon request, by calling toll-free at (800) 617-0004. Furthermore, you may obtain Part F of Form N-PORT on the SEC’s website at www.sec.gov.

NOTE 4 – PROXY VOTING POLICIES AND PROCEDURES

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and information regarding how the Fund voted proxies during the most recent 12-month period ended August 31, are available without charge upon request by (1) calling the Fund at (317) 581-5664 and (2) from Fund documents filed with the Securities and Exchange Commission (“SEC”) on the SEC’s website at www.sec.gov.

Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.

There were no changes in or disagreements with accountants during the period covered by this report.

There were no matters submitted to a vote of shareholders during the period covered by this report.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.

Archer Growth ETF’s fund expenses, including Trustee compensation, are paid by the Investment Advisor pursuant to the Investment Advisory Agreement. Additional information related to those fees is available in the Fund’s Statement of Additional Information.

Item 11. Statement Regarding Basis for Approval of Investment Advisory and Sub-Advisory Contracts.

The information is included as part of the material filed under Item 7 of this Form.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of Trustees.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant’s securities are listed. Not Applicable

(4) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not Applicable.

(5) Change in the registrant’s independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period. Not Applicable.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


	Since Inception (12/29/2025)
Archer Growth ETF NAV	4.40
S&P 500 (TR)	12.16


Top Sectors	(%)
Technology	30.2	%
Industrials	26.1	%
Financials	12.5	%
Health Care	10.1	%
Consumer Discretionary	9.7	%
Energy	2.7	%
Communications	2.6	%
Consumer Staples	2.5	%
Materials	2.2	%
Cash & Other	1.4	%


Net Assets	$14,754,478
Number of Holdings	41
Net Advisory Fee	$64,833
Portfolio Turnover	950%


Top 10 Issuers	(%)
Gitlab, Inc.	3.6	%
Arista Networks, Inc.	2.9	%
Expeditors International of Washington, Inc.	2.8	%
Samsara, Inc.	2.8	%
nVent Electric PLC	2.7	%
Phillips 66	2.7	%
Zebra Technologies Corp.	2.7	%
Appian Corp.	2.7	%
Chime Financial, Inc.	2.6	%
Roku, Inc.	2.6	%

	By (Signature and Title)	/s/ Troy Patton
		Troy Patton, President and Chief Executive Officer (Principal Executive Officer)

	By (Signature and Title)	/s/ Umberto Anastasi
		Umberto Anastasi, Treasurer and Chief Financial Officer (Principal Financial Officer)